Thu Feb 21, 2013, 07:22 PM
PM Martin (2,350 posts)
Regarding American laws:
Do you have to show an ID to sell precious metals? Does an individual have to show a state issued ID to sell old coins, jewelry, etc?
Canadian law required identification for "large" transactions, $10,000(CA) or more.
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10 replies, 442 views
Always highlight: 10 newest replies | Replies posted after I mark a forum
Replies to this discussion thread
| Author | Time | Post | |
| PM Martin | Feb 2013 | OP | |
| pipoman | Feb 2013 | #1 | |
| Egalitarian Thug | Feb 2013 | #2 | |
| PM Martin | Feb 2013 | #3 | |
| Egalitarian Thug | Feb 2013 | #4 | |
| PM Martin | Feb 2013 | #7 | |
| Egalitarian Thug | Feb 2013 | #10 | |
| PM Martin | Feb 2013 | #5 | |
| PM Martin | Feb 2013 | #6 | |
| PM Martin | Feb 2013 | #8 | |
| PM Martin | Feb 2013 | #9 |
Response to PM Martin (Original post)
Thu Feb 21, 2013, 07:52 PM
pipoman (10,566 posts)
1. Probably similar
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I think the buyer has to keep records over 5k but doesn't have to submit them unless requested or they suspect a crime...any cash transactions over 10k require irs forms, irrc.
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Response to PM Martin (Original post)
Thu Feb 21, 2013, 07:59 PM
Egalitarian Thug (7,926 posts)
2. Yes. The IRS requires it. Consequently, you find many goldbug operations
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making millions $9,500 at a time with impressive repeat business.
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Response to Egalitarian Thug (Reply #2)
Thu Feb 21, 2013, 08:00 PM
PM Martin (2,350 posts)
3. What about small transactions, less than a thousand dollars?
Response to PM Martin (Reply #3)
Thu Feb 21, 2013, 08:03 PM
Egalitarian Thug (7,926 posts)
4. Nope, no reporting requirement, unless it has been changed since 2006. n/t
Response to Egalitarian Thug (Reply #4)
Fri Feb 22, 2013, 10:11 PM
PM Martin (2,350 posts)
7. What about showing an ID?
Response to PM Martin (Reply #7)
Sun Feb 24, 2013, 12:17 AM
Egalitarian Thug (7,926 posts)
10. You can buy it through the mail. Information is taken, but there's no check.
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Again, the last time I had any dealing in this area was 2006, so things may have changed.
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