We are not required to report most precious metals purchases to the government. However, we are mandated to file Form 8300 in the instance of cash payments over $10,000. The $10,000 minimum also applies to related cash transactions within 24 hours of each other that together total more than $10,000. Please note, cash includes cashier’s checks and money orders with a face value of $10,000 or less.
Certain products that Jefferson Gold could purchase from customers are reportable to the IRS. These reportable items require the filing of a Form 1099-B. In order for the Form 1099-B to be filed with the IRS, the customer will need to complete a Form W-9. The Form W-9 should be sent to the customer during the sale negotiation and must be completed and received by Jefferson Gold prior to payment for the sale. Forms 1099-B will be mailed to customers by February 15 in the year following the Liquidation.
| Reportable Item | Minimum Fineness | Minimum Reportable Amount |
| Gold Bars | 0.995 | Any size bars totaling 1 Kilo (32.15 troy oz) or more |
| Silver Bars | 0.999 | Any size bars totaling 1000 troy oz or more |
| Platinum Bars | 0.995 | Any size bars totaling 25 troy oz or more |
| Palladium Bars | 0.9995 | Any size bars totaling 100 troy oz or more |
| Gold 1 oz Krugerrand | as minted | Twenty-five (25) 1 oz coins |
| Gold 1 oz Maple Leaf | as minted | Twenty-five (25) 1 oz coins |
| Gold 1 oz Mexican Onza | as minted | Twenty-five (25) 1 oz coins |
| U.S. 90% Silver Coins | as minted | Any combination of dimes, quarters, or half-dollars totaling $1,000 face value or more |
