Which specific gold and silver products are on the IRS Reportable Items List and what are their reportable quantity thresholds?
Executive summary
The IRS Reportable Items List requires dealers to file Form 1099‑B for certain sales of gold and silver when specific purity and quantity thresholds are met; for gold bars/rounds the fineness threshold is .995 and the common quantity trigger is 1 kilogram (32.15 troy ounces) or more, and for silver bars/rounds the fineness threshold is .999 with a widely cited reporting trigger of 1,000 troy ounces [1] [2] [3]. Specific 1‑oz gold coins — notably the Gold Maple Leaf, Gold Krugerrand and Mexican Onza — become reportable when sold in quantities greater than 25 pieces, while 90% U.S. silver coins are reportable when sales exceed $1,000 face value [4] [5] [6] [3].
1. Gold bars and rounds — the purity and weight line that triggers reporting
Dealers and industry guides consistently report that only gold bars and rounds with a fineness of at least .995 are subject to the Reportable Items rules, and that dealers must file a 1099‑B when the sale meets the minimum quantity standard commonly expressed as 1 kilogram (32.15 troy ounces) or more in a single sale [1] [2] [3]. The IRS instructions emphasize that a sale is reportable only if it is of a form and quantity approved by CFTC‑regulated futures contracts, and that quantities must meet the minimum RFC delivery size — a rule dealers use to determine whether a given bullion bar sale triggers reporting [7].
2. Gold coins — which named coins and the “25‑coin” threshold
Industry reporting and dealer tax guides identify specific 1‑ounce gold coins that the IRS considers reportable when sold above a numerical threshold: the 1‑oz Gold Maple Leaf, 1‑oz Gold Krugerrand and 1‑oz Mexican Onza are repeatedly listed as reportable when more than 25 coins are sold to a dealer in the aggregation period [4] [5] [8]. These coin rules are derived from the IRS/CFTC framework and have become the practical trigger dealers use to decide on 1099‑B filing [9] [7].
3. Silver bars and coins — the 1,000 troy ounce and $1,000 face‑value triggers
Silver bars and rounds that are at least .999 fine are treated as reportable when sold in the large quantity commonly stated as 1,000 troy ounces or more, according to multiple dealer guides and bullion firms [1] [2] [8] [3]. For circulating silver coinage, the long‑standing rule is that U.S. 90% silver coins (pre‑1965 dimes, quarters, halves) are reportable when the sale exceeds $1,000 face value (equivalent to 1,000 face dollars in that coinage), and dealers reiterate this threshold as a reporting trigger [6] [3] [5].
4. Exemptions, aggregation rules and the IRS’s own ambiguity
Several well‑known exemptions temper the list: fractional gold coins, American Gold and Silver Eagles and many foreign coins not specifically named on the IRS chart are treated by dealers as non‑reportable regardless of quantity, per multiple dealer guides [1] [6] [3]. The IRS instructions require dealers to aggregate sales to a single customer within a 24‑hour period when determining whether thresholds are met and also state that only forms and quantities approved for CFTC regulated futures contracts are reportable — language that industry sources and commentators say leaves room for interpretation and conservative dealer reporting [7] [9].
5. Why confusion persists and how dealers behave in practice
The practical landscape is shaped less by a single clear statute and more by a 1992 revenue procedure and subsequent dealer interpretations negotiated with industry groups, so many bullion dealers publish identical threshold tables to avoid noncompliance risk; critics argue that ambiguity has driven over‑reporting while dealers argue they are following IRS/CFTC‑based criteria [9] [10]. The result is predictable: dealers rely on published purity/quantity triggers — .995 gold at 1 kg, .999 silver at 1,000 oz, 25 x 1‑oz named gold coins, $1,000 face of 90% silver — and aggregate transactions over 24 hours when making 1099‑B filing decisions [1] [2] [8] [7].
Bottom line
The clearest, repeatedly cited thresholds for gold and silver on the Reportable Items List are: gold bars/rounds ≥ .995 fineness at roughly 1 kilogram (32.15 troy oz) or more; silver bars/rounds ≥ .999 fineness at roughly 1,000 troy ounces or more; named 1‑oz gold coins (Maple Leaf, Krugerrand, Mexican Onza) when sold in quantities >25; and U.S. 90% silver coins when sales exceed $1,000 face value — all subject to 24‑hour aggregation rules and dealer judgment based on IRS/CFTC guidance [1] [2] [4] [5] [6] [7]. The IRS’s own guidance is sparse and tied to CFTC delivery sizes, so dealer publications remain the most accessible practical guide but reflect interpretive choices [9] [7].