IRS to begin tracking gold and silver coin purchases 1-2012Submitted by sunny on Tue, 07/20/2010 - 12:24
The good folks over at numismaster.com report that, starting on January 1st in 2012, U.S. federal law will require coin and bullion dealers to report to the Internal Revenue Service all gold and silver coin purchases and sales greater than $600. The report is written by David L. Ganz and is headlined "$600 Sale? Get Ready for Tax Form." Apparently this little jewel was an add-on to the national health care legislation.
and the bill to repeal it: