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<p>[QUOTE=&quot;thedabbler, post: 1347718, member: 32800&quot;]I suspect you are asking the wrong question.&nbsp; The real question is how is the sale reported for tax purposes.</p><p><br /></p><p>Let&#039;s say you bought the car for $20,000, sell it for $1000 face value of 90% silver, and then turn around and sell the bullion for $22,000.</p><p><br /></p><p>You have two ways to report the sale:</p><p>1) you bought the car for $20,000, and sold it for $1000 (possible tax loss of $19,000).&nbsp; &quot;I haven&#039;t sold the bullion yet, so I don&#039;t need to report the gain&quot;.</p><p>2) you bought the car for $20,000, and sold it for $1000 (possible tax loss of $19,000).&nbsp; You then report the sale of the bullion, showing a gain of $21,000 - a profit of $2,000 for tax purposes.</p><p>3) you bought the car for $20,000, and bartered it for $22,000 worth of stuff (I don&#039;t know what the forms are like) and show a gain of $2,000.</p><p><br /></p><p>The IRS tends to frown on the first method because the second part of the transaction tends to be unreported.&nbsp; Which means they may not appreciate the second method - if they allow it, how do they stop the first method?[/QUOTE]</p><p><br /></p>

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