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Open Tuesday 10/4 BY APPOINTMENT ONLY! Call for an appointment Tuesday.
We have had to rip out our flooring Monday We are drying out from Hurricane Ian's water.
Thank you for understanding.We will post when we are able to resume regular walk-in hours.
********Prices are always changing.Please Call for Prices to verify.*******
The reporting requirements have evolved from Anti-Money Laundering laws over the last few decades. Basically, it helps the government find and prosecute individuals or organizations that are committing crimes and/or trying to make dirty money clean.
What is reportable?
If it is a cash transaction (defined below) that is:
What is considered CASH?
What is NOT considered CASH
You buy $12,800 worth of gold coins and silver bars and pay using $8000 in US currency and a cashier’s check of $4,800.
Yes. Since the cashiers check is less than $10,000 it is considered cash. As such, the total cash you have given is $12,800.
You buy $12,800 worth of gold coins and silver bars and pay using $1,800 in US currency and a cashier’s check of $11,000.
No. Since the cashier’s check is more than $10,000 it is not considered cash. As such your total cash payment is only $1,800.
You buy gold bars for $33,000 and pay using a personal check for $25,000 and $8,000 in US currency.
No. Any payment, regardless of the amount drawn from your personal account is NOT considered cash. The cash payment is less than $10,000
You buy gold Canadian Maple Leaf coins for $12,000 and make a payment in US currency for $8,000 on April 2. You make another US currency payment on April 15 of $4,000 and receive your gold coins.
Yes. These are considered installment payments and are combined to total more than $10,000.
A more detailed explanation and definitions can be found on the IRS’s website here