Gold Buyers NEED TO KNOW These IRS Rules BEFORE Buying Gold

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In this video I talk to a bullion dealer about purchasing gold in the USA and the IRS reporting requirements for purchasing gold. Many stackers like to buy gold using cash to avoid any credit or debit card fees, but there is a problem with this. Because of the price of gold and premiums on American gold Eagles the dealer will have to fill out an IRS form 8300 if you purchase as little as 3 GOLD EAGLES! This is crazy compared to the 25+ Ounces of gold you could have purchased in 1984 when the IRS form 8300 came out. If someone purchases more than $10,000 worth of precious metals and they use cash then they will need to fill out this IRS form. The purpose of the IRS form is to prevent money laundering. Will the IRS ever raise the limit on this form? It is getting out of hand that the IRS form 8300 needs to be filled out now with such a small purchase of gold. It would currently take about 300 ounces of silver to trigger the IRS form 8300. All silver stackers and gold buyers need to be aware of this before they buy gold.