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In this video I talk about selling silver and gold and why you don’t want to sell large amounts at once. If you sell too much gold or silver at once then you will have to fill out a 1099-B form. Many silver stackers and gold buyers want to remain anonymous so it would be better to not have to provide so much information to the IRS. If you are selling large amounts of silver and gold in a 24 hour period then you will need to only sell the types that do not apply to the minimum silver and gold thresholds. Here are the thresholds that will trigger the 1099-B form:
Gold bars/rounds 32.15 troy oz or more
Silver bars/rounds 1,000 troy oz or more
Platinum bars / rounds 25 troy oz or more
Palladium bars / rounds 100 troy oz more
Gold Maple Leaf Coins 1 oz 25 troy oz or more
Gold Krugerrand Coins 1 oz 25 troy oz or more
Gold Mexican Onza Coins 1 oz 25 troy oz or more
US 90% Silver Coin Bags $1,000 face value or more
Note that these types and amounts CAN CHANGE IN THE FUTURE so I recommend stacking in 1 oz sizes or smaller sizes only. All other bullion types are currently not required to fill out a IRS 1099-B from when selling. Please subscribe for more gold and silver related videos. Below is my video on buying silver and gold and when a IRS from will required for that transaction:
Warning to All Silver and Gold Buyers (Part 1) – Don’t Make Large Purchases!
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Topics I cover in this video: silver, gold, silver warning, gold warning, silver and gold warning, gold and silver warning, selling silver, selling gold, selling gold and silver, selling silver and gold, silver stacking, buy silver, buy gold, purchase silver, purchase gold, silver stacker, silver stack, precious metals, buying bullion, irs form 1099-b, when to fill out irs form 1099-b, tax on silver, tax on gold, silver irs reporting, gold irs reporting, how to sell silver, how to sell gold, gold selling requirements
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