GUIDE TOTAX-FREEGOLD & SILVERBUYINGPresented by

TAXATION AND REPORTING REQUIREMENTS FOR PHYSICAL PRECIOUS METALS

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Guide toTAX-FREEGold & SilverBuying

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Our Specialists value long-term relationships and want you to feel comfortable turning to them for years to

come. They are available to guide you through your f irst purchase, help you set up a gold IRA, or simply discuss the latest news about the Federal Reserve.

If at any time you are unsatisf ied with our service, please contact management directly here. We will respond promptly and work to resolve the issue. Your respect and business is my highest priority.

Thank you for choosing SchiffGold.

Sincerely,

ChairmanSchiffGold

THANK YOU...

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GUIDE TO TAX-FREEGOLD & SILVER BUYING

And the 10k Reporting Myth

At SchiffGold, we respect the privacy of our clients and recognize that many investors want to maintain confidentiality when buying and selling gold and silver bullion products. IRS regulations mandate that we report certain sales transactions using Form 8300 and certain buyback transactions by issuing a 1099-B.

But it is possible to buy and sell precious metals without triggering these reporting requirements. Knowing and understanding the rules will enable you to plan your buying and selling in a way that allows you to maintain your privacy.

This report outlines our understanding of IRS reporting requirements. Remember, IRS rules are subject to interpretation and change. You should always consult with your accountant or tax attorney.

The Bank Secrecy Act requires reporting of cash transactions over $10,000 by filing IRS Form 8300. For this reason, SchiffGold does not accept cash payments.

These IRS reporting requirements kick in when an individual submits a single order, or a series of related orders, totaling over $10,000 in cash within a 24-hour period. Cash includes currency as well as cashier’s checks, bank drafts, traveler’s checks, and money orders. Cash purchases by separate members of the same household exceeding the $10,000 threshold within 24 hours could also be construed as a single transaction.

The IRS also requires reporting for any transaction deemed “suspicious” by the buyer or seller, regardless of the amount. Unfortunately, the IRS does not provide any guidelines as to what constitutes “suspicious.”

While these reporting requirements seem extensive, practically speaking, virtually all purchases of bullion are not reportable to the IRS unless you pay with cash.

IRS Reporting Requirements for Physical Precious Metals

When Buying Bullion

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Chart created by SchiffGold, Peter Schiff’s Gold Company. Learn more at www.schiffgold.com.Data source: www.irs.gov

* Note: The IRS considers cashier’s checks, bank drafts, traveler’s checks, or money orders with a face value of less than $10,000 to be equivalent to cash.

PURCHASE REPORTING REQUIREMENTS

TRANSACTION TYPE

Any purchase under $10,000

Purchases in any amount using credit cards, bitcoin, personal checks, or bank wire transfers

One or more cash* purchases within 24 hours that total more than $10K

Single purchase over $10,000 using a cashier’s check, bank draft, traveler’s check, or money order

REPORTABLE NON-REPORTABLE

The IRS requires dealers to issue a 1099 tax form for specified sales transactions. Failure to report these transactions on income tax returns may result in a notice of omission from the IRS. Failure to pay applicable capital gains taxes can lead to IRS penalties. The IRS requires SchiffGold to file a 1099-B form whenever a customer sells us certain quantities of specific bullion products listed on the IRS’s Reportable Items List on page 5. In many cases, we are not required to report the transaction. Reporting requirements generally depend on the size and purity of the bullion you sell.

When Selling Bullion

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1099-B EXEMPT BULLION PRODUCTSClick the arrow button for more information about each product

Chart created by SchiffGold, Peter Schiff’s Gold Company. Learn more at www.schiffgold.comData source: www.irs.gov

FRACTIONALGOLD COINS

AMERICAN GOLDAND SILVER EAGLES

AMERICANGOLD BUFFALOES

ROYAL CANADIANSILVER MAPLE LEAFS

AUSTRIAN GOLD ANDSILVER PHILHARMONICS

AUSTRALIANPERTH MINT COINS

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1099-B REPORTABLE BULLION PRODUCTSRemember, these are the minimum reporting requirements. Selling bullion of lower purity

or lighter weight than the products listed below is not necessarily reportable.

MINIMUM REPORTABLE PURITY:

99.5%Gold bars or rounds totaling 1 kilo

(32.15 troy ounces) or more

MINIMUM REPORTABLE WEIGHT:

MINIMUM REPORTABLE PURITY:

99.9%Silver bars or rounds totaling

1,000 troy ounces or more

MINIMUM REPORTABLE WEIGHT:

MINIMUM REPORTABLE PURITY:

99.95%Platinum bars or rounds totaling

25 troy ounces or more

MINIMUM REPORTABLE WEIGHT:

MINIMUM REPORTABLE PURITY:

99.95%Palladium bars or rounds

totaling 100 troy ounces or more

MINIMUM REPORTABLE WEIGHT:

MINIMUM REPORTABLE PURITY:

as minted

25 or more 1-ounce coins

MINIMUM REPORTABLE WEIGHT:

MINIMUM REPORTABLE PURITY:

as minted

25 or more 1-ounce coins

MINIMUM REPORTABLE WEIGHT:

MINIMUM REPORTABLE PURITY:

as minted

25 or more 1-ounce coins

MINIMUM REPORTABLE WEIGHT:

MINIMUM REPORTABLE PURITY:

as minted

25 or more 1-ounce coins

MINIMUM REPORTABLE WEIGHT:

GOLD BARS/ROUNDS SILVER BARS/ROUNDS

PLATINUM BARS/ROUNDS PALLADIUM BARS/ROUNDS

GOLD 1oz MAPLE LEAF GOLD 1oz KRUGERRAND

GOLD 1oz MEXICAN ONZA US 90% PRE-1965 SILVER COINS

GUIDE TO TAX-FREEGOLD & SILVER BUYING

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