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Keep the receipts: cost basis when you sell metal
The shop bid does not care what you paid. The IRS might. We are not your CPA. The envelope of invoices is still your friend.
Two different piles of paper:
- What we need to buy from you (ID, sometimes a form)
- What you need later for taxes and memory
We will buy your eagles without a Costco receipt. Your accountant may still want a story about what you paid. I am not your accountant. I am telling you the envelope matters to you.
What to keep
Invoices. Dates. Quantities. Product names. Wire confirmations. Photos of the lot before an estate gets split. Estates.
What the shop will write
A buy ticket: what we paid, what it was, the date. Take it. That is your sale record.
Form 8300 is their cash report, not your whole tax life.
Lost paperwork
You can still sell. Basis gets messier. That is a CPA problem, not a reason for us to pay you more.
Part of the coin shop counter wiki · visitors & collectors · NumisQ Learn