There is no tax if you inherit coins or receive coins as a gift from blood relatives, but when you sell it, you are liable to pay capital gains tax in case of profits. Most silver is either a bullion coin, rare coin or collectible, scrap silver (which includes rounds and bars), sterling or flatware, or junk silver. As of the date of this post, ICTA guidelines for reportable transactions were as follows: //
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how much silver can i sell without reporting