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IRS form 8300

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mike466
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United States
19 Posts
 Posted 03/05/2012  4:47 pm Show Profile Bookmark this topic Add mike466 to your friends list Get a Link to this Message

http://www.irs.gov/pub/irs-pdf/f8300.pdf

If you go to a dealer and buy a monster box (500 coins 1oz each)of US silver eagles which is worth over 10K, are dealers required to file this form for silver coins? Do they ask for your personal info like SSN? If you pay by money order, cashiers check, or cash

Edited by mike466
03/05/2012 4:47 pm
Pillar Of The Community
United States
2120 Posts
 Posted 03/05/2012  5:06 pm  Show Profile Bookmark this reply Add Namachieli to your friends list Get a Link to this Reply
I wish I had the troubles of needing to know the answer to this.
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344 Posts
 Posted 03/05/2012  5:15 pm  Show Profile Bookmark this reply Add chris beatie to your friends list Get a Link to this Reply
buy from private sector imo.

Better deals and they wont report you to uncle sam.
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United States
1024 Posts
 Posted 03/05/2012  5:37 pm  Show Profile Check specksynder's eBay Listings Bookmark this reply Add specksynder to your friends list Get a Link to this Reply
A dealer will (should) fill out paperwork if you give him $10K+ in cash. Now, bank wire or check, I think the paperwork is unnecessary because the bank now has a paper trail.
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United States
19 Posts
 Posted 03/05/2012  6:14 pm  Show Profile Bookmark this reply Add mike466 to your friends list Get a Link to this Reply
US Silver American eagle 1 oz. coins
I want to get about 200
do you guys know any dealers in Los Angeles/Orange county area?
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United States
714 Posts
 Posted 03/05/2012  6:37 pm  Show Profile Bookmark this reply Add OneBowl to your friends list Get a Link to this Reply
Yes. And your taxpayer ID, which is part of the form that must be completed, is your SSN. If you can somehow pay by personal check, no.

As objectionable as this form may seem, it's fairly benign. I would worry more about who follows you after the purchase than this form.
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United States
4008 Posts
 Posted 03/05/2012  8:33 pm  Show Profile Bookmark this reply Add Ed_B to your friends list Get a Link to this Reply

Quote:
do you guys know any dealers in Los Angeles/Orange county area?

No, not specifically. Check the phone book for that area or do a Google search for "Los Angeles county" and "coin dealers". Both of these should turn up several shops that deal in coins and bullion.

If you can't find one that looks good to you, do consider the on-line vendors with good reps, such as APMEX, Provident Metals, and Silvertowne. Many of us on this site have used these dealers multiple times and have done well with them for the most part.
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