Section 1. Short title
This Act may be cited as the Monetary Metals Tax Neutrality Act of 2024.
(a) In general
Subchapter O of chapter 1 of the Internal Revenue Code of 1986 is amended by inserting after part IV the following new part:
Section 1071. Sale of certain coins or bullion
No gain or loss shall be recognized on the sale or exchange of—
(1) gold, silver, platinum, or palladium coins minted and issued by the Secretary at any time, or
(2) refined gold or silver bullion, coins, bars, rounds, or ingots which are valued primarily based on their metal content and not their form.
(b) Clerical amendment
The table of parts for subchapter O of chapter 1 of such Code is amended by inserting after the item relating to part IV the following new item:
(c) Effective date
The amendments made by this section shall apply to sales or exchanges after December 31, 2024.