What you should know about Gold Bullion – State of Florida Guidelines
The State of Florida and the Federal Government have some guidelines on buy -ing and sell -ing gold bullion. We’ll walk you through the process, worry none.
If you are looking to purchase gold bullion – whether it be bars or coins – you should know:
Buy Gold Bullion:
** This applies to Foreign Gold Bullion / Coins, non-denominational rounds and bars **
- There is NO sales tax in the State of Florida on US Gold coins, or any U.S. coins.
- Purchases UNDER $500 = State Sales Tax.
- including fractional Maple Leafs, Krugerrands, and ingots.
- Purchases OVER $500 = NO State Sales Tax.
- Buying Over $10,000 & paying in Cash/cash equivalents = Need Form 8300
- Cash Split Payments. If the transaction total is $10,000 or more, and you pay with cash (any portion): Need Form 8300.
- We accept payment in the form of cash, wire transfer, or check. Please note, checks will be held for 10 business days before product delivery.
Sell Gold Bullion:
** This applies to U.S. and Foreign Gold Bullion **
- Dealers are required to report the sale on Form 1099B ONLY IF you sell 25 coins or more of: the Krugerrand, Maple Leaf, or Mexican Gold Onza.
- Applies to total sales within a 24-hour period.
- ***The Federal Government does not require reporting a sale, at any quantity of the following coins:
- American Gold Eagle
- Australian Kangaroo
- Austrian Philharmonic
- Chinese Panda
- British Britannia Series
- Australian Lunar Series
- Selling Over $10,000 and receiving cash/cash equivalents = Need Form 8300.
- Payment via check or wire transfer does NOT require Form 8300
Why buy or sell gold bullion at Vermillion Enterprises?
Simply put, Vermillion Enterprises has, for over 6 years, built a reputation on fair prices, honest trade practices, and great customer service.
So if you live in or near Spring Hill FL, Lutz FL, New Port Richey FL, Hudson FL, Crystal River FL, Inverness FL, Brooksville FL or surrounding counties – Pinellas, Hillsborough, Citrus, stop in and say hi! Come on in or check out our online SHOP! We want to buy gold bullion from you AND we have plenty of gold bullion to sell to you!