IDC Coin and Bullion
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1 oz Gold Round: frequently asked questions
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The cheapest 1 oz gold round from IDC Coin and Bullion is currently $4,218.09, around 1.2% over $4,181.20 gold spot. Generic rounds are privately minted with no legal tender status, which typically keeps premiums lower than government-issued coins.
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Precious metals use the troy ounce, a unit inherited from medieval European trade, equal to 31.1035 grams. The avoirdupois ounce used in everyday US and UK commerce is 28.35 grams. Gold weights, prices, and purities are always quoted in troy ounces internationally, so a 1 oz gold round contains a full 31.1035 grams of metal.
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Reporting rules vary by country. In the UK, gains above the annual CGT allowance of £3,000 must be declared to HMRC. In the US, capital gains on gold are taxed at up to 28%. In Canada, 50% of any gain is included in taxable income. Check the rules in your jurisdiction, as purchase-reporting requirements also differ.