AML Guidelines

Atlanta Gold & Coin Buyers follows all required AML guidelines as noted below:

• We require ID’s on all purchases that we make from the public

• We require ID’s on larger sales transactions

• The state of Georgia doesn’t assess sales tax on coin or currency sales. However, this only applies to Georgia residents. 

• We can only accept cash as a form of payment on individual transactions of $10,000 or less.

• We do not enter into purchases paid in currency by more than one family member or related parties, which exceed $10,000.

• Money orders and cashier checks are considered cash if in amounts of $10,000 or less. Therefore, we’re required to issue Form 8300 for any purchases in excess of $10,000 made with multiple Money orders and/or Cashier’s checks for $10,000 or less.

• Payment in the form of a check, ACH, wire or payment apps is not subject to the $10,000 limit applicable to cash transactions.

• We’re required to issue a 1099-B when purchasing the following products in specific quantities:

• The following information is obtained from customers when 1099-B and 8300 forms are required to be filed: Customer’s name, address, phone number, email address and social security number.  Form 8300 will be filed within 15 days of the transaction. 1099-B forms are filed by Jan 31^st of the following year.