In 2026 you can give each child up to $19,000 of gold or silver without filing a gift tax return, and a married couple who split their gifts can give $38,000 to each child (IRS gift tax FAQ). Larger gifts need a gift tax return, Form 709, but rarely any tax, because they count against a lifetime exclusion of $15 million per person in 2026.
Does giving bullion avoid tax?
It avoids tax at the moment of the gift, not on the gain. A gift is not a sale, so you owe no capital gains tax when you hand over coins or bars. Your child takes over your cost basis, though, and when they sell, the gain is taxed as a collectible, at up to 28% for metal held more than a year (IRS Topic 409). If the metal is worth less than you paid when you give it, the rules for a loss use that lower value instead.
Metal left in an estate works differently: an heir’s basis is generally its value on the date of death, so gains made during your lifetime are not taxed when the heir sells (IRS Publication 551). Bullion you still own at death does count toward your estate, which owes federal tax only above the same $15 million exclusion. For large holdings, a tax adviser can compare a gift with an inheritance for your situation.
Keep the paperwork with the metal
Give the purchase invoice along with the coins or bars. It is the record of the cost basis your child will need when they sell, and for bars it ties the serial number to the purchase. Keep bars in their sealed assay cards and coins in their capsules or tubes.
Which pieces make practical gifts?
Small pieces are easy to give one at a time, but they cost more per ounce over the metal price. A 1 oz silver coin, a fractional gold coin or a gram gold bar fits a birthday; a 1 oz gold coin or bar suits a larger gift and costs much less over spot. Our guides compare the options: the best silver coins to buy, the best gold coins and gold bars by size. For a spouse who is not a U.S. citizen, the 2026 annual limit is $194,000.
Some families mark these moments with metal by tradition: five silver coins for a Pidyon HaBen, or a gold sovereign for a 21st birthday. See all our gold and silver traditions.
Sources
- IRS, frequently asked questions on gift taxes: 2026 annual exclusion and gift splitting.
- IRS, Topic 409, capital gains and losses: collectibles taxed at up to 28%.
- IRS, Publication 551, basis of assets: basis of gifted and inherited property.