Sorry I could not send a link that filled several more pages.
Laws already in effect are actually unclear. I have no experience in selling gold or silver, or anything else other than stocks or mutual funds.
In my 30 years in public accounting I, or my employees, filed thousands of 1099’s, but never filed one for a sale of gold or silver. Also never had a client tell me he had sold any.
If you can get obamacare repealed, we probably will not have to deal with IRS reporting of G & S sales over $600, but under the laws as they stand today, beginning in 2012, it will be required.
The filing for very large sales of certain gold and silver items is a 1099B, which I believe is what brokerages file with the IRS at year end so they can be informed of potential gains realized.