Buying silver in Anchorage, AK
Alaska has no statewide sales tax, so silver bullion, coins and jewelry are bought without state sales tax. Anchorage has no general sales tax.
Silver has one national spot price in US dollars: the prices on this page are the same as on the silver price in the United States page. What differs in Anchorage is tax, explained below and on the Alaska page.
Sales tax on silver in Anchorage
No state sales tax applies. No statewide sales tax. Some boroughs and cities levy local sales tax, but HB 1 (law May 29, 2026; effective Aug 28, 2026) bars local sales/use tax on the precious-metal content of gold and silver specie. Jewelry and other goods can still face local tax.
Full state rules: silver price and tax in Alaska.
Tax when you sell silver in Alaska
No state personal income tax, so no state tax on bullion gains. At the federal level, the IRS treats bullion and most silver coins as collectibles: long-term gains (assets held more than a year) are taxed at your ordinary rate, capped at 28%, and short-term gains as ordinary income.
Gold and silver as money in Alaska
HB 1 (2026) recognizes gold and silver specie as legal tender and orders a study of accepting it for state taxes and debts.
Selling silver or silver jewelry to a dealer in Alaska
- License: No state license for gold or precious metal buyers as such. Pawnbrokers (people who lend money on pledged property) need a two-year state license from the Department of Commerce, Community, and Economic Development, issued through the Division of Corporations, Business and Professional Licensing (AS 08.76.110,.140). Buying gold alone does not make someone a pawnbroker. Businesses that buy and sell secondhand articles need no license but must keep a record book (AS 08.76.010).
- Hold period: No general hold before resale or melting for items a pawnbroker or secondhand dealer buys. Police may order a pawnbroker to hold property for up to 30 days, extendable twice to 90 days in total (AS 08.76.350); evidentiary holds last until the case ends (AS 08.76.330); after an ownership claim, property may not be disposed of for 30 days (AS 08.76.370-.380). Pledged items get a 30-day grace period after maturity.
- What the dealer records: Secondhand dealers: a permanent record book, written in ink in date order, with the date, the employee's name, the customer's name, age and address, an item description, price paid and the customer's signature, open to police inspection (AS 08.76.010-.020). Pawnbrokers: a transaction register with the same details plus ID details, kept electronically (except in towns of 6,000 or fewer) for one year (AS 08.76.180-.190), and weekly paper or electronic reports to police. Items containing precious metals or gemstones always need a full description in police reports (AS 08.76.410-.420).
- What sellers need: Pawnbrokers: customer shows a government-issued photo ID, whose issuer and number are recorded. No transactions with anyone under 18, anyone visibly intoxicated or anyone using another person's name (AS 08.76.170,.180). Pawnbrokers may not trade between midnight and 6 a.m. or use drive-throughs (AS 08.76.290).
- Who is exempt: Banks and persons regulated as pawnbrokers are outside the secondhand dealer article (AS 08.76.010). Financial institutions regulated under AS 06 and federal financial institutions are exempt from the pawnbroker article (AS 08.76.500). Cities may add pawnbroker rules that meet at least the state minimum, but may not tax pawn transactions or limit hours beyond the midnight-6 a.m. ban (AS 08.76.460).
- The law: Alaska Statutes Title 8, Chapter 76 (Pawnbrokers and Secondhand Dealers): Article 1, AS 08.76.010-.030 (secondhand dealers); Article 2, AS 08.76.100-.590 (pawnbrokers); regulations 12 AAC 76. No separate precious metals dealer law found.
Dealers report a customer's sale to the IRS on Form 1099-B only for certain forms and quantities, such as 1-kilo gold bars, 1,000 ounces of silver bars or 25 or more Krugerrands or Maple Leafs; American Eagles and smaller lots are generally not reported. Any business that receives more than $10,000 in cash in one transaction or related transactions files IRS Form 8300. Bring a photo ID when you sell.
Tax and duty information last reviewed October 2026. Rules change — confirm with your dealer or tax authority before a large purchase.