What Is Reported When I Buy or Sell Gold or Silver?

Everything is exempt from reporting when you buy gold or silver, unless you pay more than $10,000 in cash.
Even then it’s not your gold or silver purchase that must be reported, only the cash transaction. Contrary to the scare stories, very few things are reportable when you sell. Under 26 CFR 1.6045-1 and Rev.Proc. 92-103, dealers need only report customer sales of 25 or more (but not fewer) Krugerrands, Maple Leaves, or Mexican Onzas, five bag lots ($5,000 face value} of US 90% silver coin, kilo gold bars, 100 oz. gold bars, 1,000 oz. silver bars, or 50 oz. or 100 oz. of platinum. If you sell lots smaller than these, the dealer reports nothing.