Non-Disclosure Policy

  • Non-Disclosure Policy & IRS Reporting Guidelines

    – New York Gold Market

At New York Gold Market, we are committed to providing a secure, private, and legally compliant environment for purchasing and selling precious metals. Our Non-Disclosure Policy ensures that your transactions remain confidential, secure, and in full compliance with applicable regulations.

  • 🔒 Privacy & Confidentiality Assurance
We respect your right to privacy and operate with discretion when handling your personal and financial information.

🔹No Unnecessary Disclosure:

  • The vast majority of our transactions do not require any IRS reporting—ensuring your purchase or sale remains private.
  • Unlike some dealers who report transactions beyond legal obligations, New York Gold Market strictly follows federal laws without exceeding disclosure requirements.

🔸Strict Data Protection:

  • We never share, sell, or misuse customer information.
  • All personal data is protected with 256-bit SSL encryption and PCI DSS-compliant security protocols.
  • All payments processed through credit cards, bank wires, ACH transfers, or cryptocurrency are not subject to reporting obligations under cash transaction laws.

🔹Discreet Business Practices:

  • All orders are shipped in plain, unmarked packaging to maintain privacy.
  • Your purchase details are never shared with third parties unless required by law.
  • When is IRS Reporting Required?
While 99.998% of transactions do not require disclosure, there are very limited circumstances where New York Gold Market must report transactions in compliance with U.S. regulations:

🔹 Purchases Requiring IRS Form 8300:

We are required to report cash transactions exceeding $10,000 under anti-money laundering laws. This applies only when:
  1. A single transaction or related transactions total more than $10,000 in actual cash (Federal Reserve notes or U.S. coins).
  2. Payments involve multiple cash instruments, such as money orders, cashier’s checks, or traveler’s checks, each under $10,000 but totaling over $10,000.

🚫 Not Considered Cash:

Purchases made using personal checks, credit/debit cards, ACH transfers, bank wires, or cryptocurrency do not require reporting—regardless of the transaction amount.

📌 Reporting Form: In rare cases where the conditions above are met, we must file IRS Form 8300, which applies across the entire U.S. economy—not just precious metals.

🔹 Sales Requiring IRS Form 1099-B:

A 1099-B tax form is required only in specific scenarios where the sale of metals meets IRS-defined Regulated Futures Contract (RFC) criteria, which include:
  • Gold Sales: 100 oz. of gold in one 100 oz. bar or three 1-kilo bars (32.15 oz each).
  • Silver Sales: 5,000 oz. of silver in five 1,000 oz. bars.
  • Platinum Sales: 50 oz. of platinum in bars 10 oz. or larger.
  • Palladium Sales: 100 oz. of palladium in bars 10 oz. or larger.

🚫 Sales That Do NOT Trigger 1099-B Reporting:

  • Gold, silver, or platinum coins and rounds of any size.
  • Silver bars smaller than 1,000 oz. (including 1 oz., 5 oz., 10 oz., 100 oz., kilo bars).
  • Gold bars smaller than one kilo.
  • 📜 Individual Taxpayer Responsibility
While we do not report most transactions, the IRS considers precious metals as property, not currency. This means that individual investors are responsible for reporting capital gains or losses when selling metals for a profit or loss.
  • Investors should track the purchase price and selling price of their metals to accurately calculate taxable gains or losses.
  • While purchasing metals does not require personal tax reporting, any capital gains or losses should be reported on your federal and state tax returns when selling.

🛑 Disclaimer:

New York Gold Market does not provide tax advice. We recommend consulting a qualified tax professional for guidance on your reporting obligations.

  • Contact Us

📍 Contact Us for Privacy & Security Concerns

If you have any questions regarding our privacy policies, non-disclosure agreements, or IRS reporting obligations, please contact us:

📍 Store Location: 33 West 47 Street, Window #2, New York, NY, 10036
📧 Email: NewYorkGoldMarket@gmail.com
📞 Phone: (917) 204-0009

At New York Gold Market, we are dedicated to protecting your privacy and ensuring a secure, discreet, and compliant transaction process.

🚀 Shop with confidence, knowing your information is secure and your transactions are handled with integrity. 🚀