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<p>[QUOTE=&quot;Rono, post: 1366196, member: 6492&quot;]Howdy,</p><p><br /></p><p>Actually, this is a good idea for whatever amount you can convert without having to have the transaction reported.&nbsp;&nbsp; If you can convert $50K to cash, that&#039;s almost a 20% down payment AND you only have to deal with the Blue Meanies on&nbsp; $250.&nbsp; </p><p><br /></p><p>Post 9/11, banks are having to keep track of more transactions and $10K seems to be one of the trigger points.&nbsp; Others around here know where coin dealers have to start reporting.&nbsp; Indeed, every state is different in how they treat their coin and bullion sales.&nbsp; Ours is tough on crime and fencing so you&#039;re name and drivers license goes on everything.</p><p><br /></p><p>You ARE going to have to pay some taxes if you&#039;ve realized a gain.&nbsp; The IRS is very clear that the sale of ANY asset that results in a gain IS a taxable event.&nbsp; Period.&nbsp; The easiest way to deal with it is to spend a few bucks and hire a CPA/tax attorney that knows bullion/coin sales.&nbsp;&nbsp; </p><p><br /></p><p>I would not recommend that you attempt to take this transaction completely &#039;off grid&#039;.&nbsp; You might get away with it but if you don&#039;t, they can be very unpleasant to deal with . . . and they never forget.&nbsp; </p><p><br /></p><p>In my 63 years I have found they appreciate and it your solemn duty as an American that you do your best to creatively minimize your taxes.&nbsp; The tax code is a great game and it rewards those who play it well.&nbsp; However, you do not ever lie to the IRS.&nbsp; It&#039;s like peeing into the wind.&nbsp; You simply do not do it.&nbsp; </p><p><br /></p><p>good luck,</p><p><br /></p><p>peace,</p><p><br /></p><p>rono[/QUOTE]</p><p><br /></p>

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