Gold bullion bars and rounds when sold in kilo or 32.15 ounce or more allotments to dealers are not private.
Some gold coins (Canadian Maple Leaf coins, South African Krugerrand coins, Mexican Liberated coins) when sold in 25 ounce or more allotments are not private.
Pre-1964 U.S.A. 90% Silver coins sold in $1,000 face value bag sizes or larger are not private.
Other gold and silver coins not listed here are fully exempt from IRS dealer reporting requirements… at least they are exempt at the moment.
Remember though that the powers that be can, and seemingly almost always do, change the rules.
The next article in our Beginners’ Guide to Buying Physical Bullion will discuss the liquidity of gold and silver bullion.