... to destroy gold and gold investors.

" Starting Jan. 1, 2012, Form 1099s will become a means of reporting to the Internal Revenue Servicethe purchases of all goods and services by small businesses and self-employed people that exceed $600 during a calendar year. Precious metals such as coins and bullion fall into this category and coin dealers have been among those most rankled by the change.

This provision, intended to mine what the IRS deems a vast reservoir of uncollected income tax, was included in the health care legislation ostensibly as a way to pay for it. The tax code tweak is expected to raise $17 billion over the next 10 years, according to the Joint Committee on Taxation."

http://abcnews.go.com/Business/gold-coin-dealers-decry-tax-law/story?id=11211611

My comment: This 1099 business is in addition to the onerous IRS reporting for income. This means if YOU sell a coin to a dealer you are going to have to give a taxpayer ID/SSN to the dealer and receive a 1099 for tax purposes at the end of the year.

Seems that the coins currently held by private parties may get more valuable than the coins trading where dealers are part of the transaction!