This is how it was explained to me by a gold salesman: Bullion should not be your entire IRA holdings. First you use non-IRA funds to buy, then you must take possession of bullion. Not coins. It’s purchase and sale are not reported by the seller to the IRS. When you sell, it is up to you to declare as ordinary income. They said that in transactions under $10k ‘no one’ reports, just cash out and done.
They don’t talk about what the bank reports when you deposit a $10k check.
Like I was saying, it makes you think. I’m with everyone else, just trying to figure out the best way to preserve my capital and bank for retirement.
