The government has certain requirements about reporting the bullion products that you buy and sell. The next time you go to California Numismatic Investments, remember the following reporting rules:
If you sell private silver bullion to the dealer, you are 1099 exempt for the IRS. This includes U.S. silver eagle coins, Canadian maple leaf silver coins, and Austrian Philharmonic Silver Coins. American gold eagle coins, American gold buffalo coins, and Gold Austrian Philharmonic coins are also exempt. You are required to fill out an IRS 1099 form if you sell 1000 ounces or more of silver bullion, which includes silver bullion bars and fine silver bullion rounds. You must also fill out a 1099 form if you sell gold bullion bars that weight at least 32.15 ounces.
Come to California Numismatic Investments for help in all aspects of precious metal buying and selling. For thirty years, we have been experts in the field. To learn more, call (800) 225-7531.