IRS 1099 Reporting – Are Bullion Sales Private?

The government requires bullion dealers to file reports when certain thresholds are met. The report is in the form of the 1099B. The following link details the list of reportable bullion by Bullion Type, Minimum Fineness and Minimum Reportable Amount.

According to this source, American Gold Eagles, American Gold Buffalos, Austrian Gold Philharmonics, American Silver Eagles, Canadian Silver Maple Leafs and Austrian Silver Philharmonics do not require any 1099 IRS Reporting and that can sell as many as you want and no 1099B will be reported to the IRS.

I am not a financial advisor and am not qualified to give tax advise. I do not represent that the information put forth by this source is accurate. I strongly advise that you do your own research and consult with a qualified financial consultant and/or CPA that is familiar with the IRS reporting requirements before making any investment or tax related decisions regarding the purchase and/or sale of bullion, coins and precious metals.  Please consult your tax advisor to find out your reporting responsibilities on other precious metal, bullion, or numismatic transactions. The information here is provided to educate and assist you and is not intended to give you tax advice in any shape or form.