It’s possible, but highly unlikely. Money Metals is only required to report the purchase of American eagles, gold bars, and other commodities to the government when the purchase in question meets two specific criteria.
First, the total purchase price needs to exceed $10,000. Second, the transaction must be paid for with cash (bills or coins) or “cash instruments” (cashier’s checks, traveler’s checks, or money orders). Even if the purchase is split up between multiple payment methods, it must be reported if the total purchase price exceeds $10,000. However—despite the large volume of transactions on the platform—less than 1% of the transactions are legally required to be reported.
Out of the nearly one million sales Money Metals has had so far, only 8,300 of these have needed to be reported using Form 8300. The IRS also has reporting requirements for specific commodities that are based on the commodity type, rather than the total purchase price (1099B reporting). You can learn more about these requirements on the Money Metals website.