Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

Are there any tax reporting requirements for a gold coin purchase?

April 26, 2017coin gold purchase requirements tax

0

Posted

Are there any tax reporting requirements for a gold coin purchase?

1 Answer

0

Posted

• You can purchase any quantity of our gold bullion coin products without any government reporting requirements. • There is no sales tax charged on gold coin orders shipped outside the state of New Mexico. • All PCGS and NGC certified gold and silver coins are bought, sold, or traded without any dealer government reporting requirements. Are there any tax reporting requirements for gold coin liquidations? • Your sale of 25 or more (in a 24 hour period) of the South African Gold Krugerrand, Mexico Gold Onza, or Canadian Gold Maple Leafs coins will require a 1099 submission. All other gold coins transactions are private. • After liquidation of your gold coins, please see your accountant about any possible capital gains tax. The above gold coin tax information is for general purposes only and should not be relied on as definitive and final. Please consult your accountant for any tax advice relating to your specific situation.