Buy — A Pound Of Gold

A pound of gold currently exceeds the $10,000 threshold for reporting. Depending on how you pay, the dealer may have to file a specific form:

: These are contracts or shares representing gold, such as Gold ETFs (Exchange Traded Funds), mining stocks, or futures contracts. buy a pound of gold

Are you looking to buy bars/coins from a dealer, or are you interested in paper investments like an ETF? Form 8300 and reporting cash payments of over $10,000 - IRS A pound of gold currently exceeds the $10,000

: You may need to provide a recent bank statement or utility bill (no older than six months) to establish your address. Form 8300 and reporting cash payments of over

: Dealers will require a government-issued photo ID, such as a passport or driver's license , to verify your identity.

: You do not own the physical bars; you own a claim, which involves counterparty risk .