One way to avoid paying sales taxes on precious metals is to store them in an IRA physical Gold account. This type of account allows you to purchase gold and other precious metals without incurring sales taxes, as long as the receipt or consideration does not exceed 115 percent of the daily closing cash price of the metal in question on the open market. If there is no such closing price for such metal, the closing price should be replaced by the average of the offered and requested cash prices for the business day immediately preceding the day of retail sale or purchase. The sale is tax-free, since the selling price of the coins did not exceed 140 percent of the daily closing cash price of silver bars and the other requirements in this section are met. The selling price of the currency exceeds 115 percent of both the value of the currency's metallic content and the nominal value of the currency at the current exchange rate.