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****Check our Notices**** OPEN most Fridays 9:30-2:00 call before driving from a distance to verify! WE ARE WELL STOCKED FOR BULLION! *NOW IS THE TIME TO BUY*
PREMIUMS WILL BE RISING AS DEMAND INCREASES. BUY SOON!
ALL SALES ARE AT OUR PHYSICAL STORE IN CHARLESTON, SC USA - There are Scammers using our name in South Africa and Malaysia, and on WHATNOT App.
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 Scenario 1: 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. Reportable? 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. Scenario 2: 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. Reportable? 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. Scenario 3: You buy gold bars for $33,000 and pay using a personal check for $25,000 and $8,000 in US currency. Reportable? No. Any payment, regardless of the amount drawn from your personal account is NOT considered cash. The cash
payment is less than $10,000 Scenario 4: 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. Reportable? 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
Reporting Requirements : Buying
What we are required to tell the government
When you buy from us