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<p>[QUOTE=&quot;justafarmer, post: 3231332, member: 3926&quot;]If you sell your coins to a coin shop - that is a purchase by the shop of inventory. Business is not required to file a 1099 on inventory purchases. You sell your coins to an individual - (private sale) - filing a 1099 is not required. Consign to sell through an Auction House or some other agent type relationship - a 1099 is required if the aggregate sales for the year is greater than $699.00. But whether a 1099 is filed or not - you are still required to report the sale and recognize any gains on your tax return.[/QUOTE]</p><p><br /></p>

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