Chris Olson

repurchase price.

So it's often in your interest to do it that way.

But you could also practically every major city in this country has multiple dealers who would be more than happy to buy your gold coins from you.

in practically any major city.

You could walk in with two gold eagles and walk out with $6,000 cash.

Usually if they're honest, yeah.

And you can check the price, you can call around and people do that all the time, see what people are paying and just make sure to keep them honest.

But, you know, there are dishonest dealers out there for sure.

Oh, certainly.

Yep.

Okay.

And for some coins, you might get more than spot.

Some of them command a premium, depending on market conditions and the type of coin.

It's a very private transaction, so there's no specific reporting requirement that says the dealers have to report every purchase that they make from the public.

Once you get to large volumes of certain types of gold or silver, they technically require a 1099.

uh report um which really just discloses the amount of gold and silver that they purchased from you and the price they paid it doesn't disclose the profit or loss that you made in that because they have no way of knowing that um so so but if i want it totally private what's the threshold at which it has to be reported do you know

Well, that threshold is subject to debate amongst people within the industry.

There's some obscure regulations.

Okay, but roughly.

But typically, it's 25 ounces of gold or, say, 1,000 ounces of silver.