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Thu Feb 21, 2013, 07:22 PM

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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Arrow 10 replies Author Time Post
Reply Regarding American laws: (Original 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

1. Probably similar

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

2. Yes. The IRS requires it. Consequently, you find many goldbug operations

 

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

3. What about small transactions, less than a thousand dollars?

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Response to PM Martin (Reply #3)

Thu Feb 21, 2013, 08:03 PM

4. Nope, no reporting requirement, unless it has been changed since 2006. n/t

 

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Response to Egalitarian Thug (Reply #4)

Fri Feb 22, 2013, 10:11 PM

7. What about showing an ID?

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Response to PM Martin (Reply #7)

Sun Feb 24, 2013, 12:17 AM

10. You can buy it through the mail. Information is taken, but there's no check.

 

Again, the last time I had any dealing in this area was 2006, so things may have changed.

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Response to PM Martin (Original post)

Fri Feb 22, 2013, 04:07 PM

5. kick

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Response to PM Martin (Original post)

Fri Feb 22, 2013, 10:01 PM

6. kick

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Response to PM Martin (Original post)

Sat Feb 23, 2013, 09:13 PM

8. kick

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Response to PM Martin (Original post)

Sat Feb 23, 2013, 09:27 PM

9. kick

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