What you should know about Gold Coins – State of Florida Guidelines
The State of Florida and the Federal Government have some guidelines on buying and selling gold coins. We’ll walk you through the process, worry none.
If you are looking to purchase gold coins – you should know:
Buying Gold Coins:
** This applies to Foreign Gold Coins, and 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.
Selling Gold Coins:
** This applies to U.S. and Foreign Gold Coins **
- 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:
- 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 coins 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 are interested in buying and selling gold coins. Bring yours in today or add more to your collection – with Vermillion Enterprises!