| Absolutely, you must report the value of gold or silver received as income received from trade or service. All this income is subject to self-employment tax. I am not sure why you are accepting payment in gold or silver.
The IRS generally speaking does not take too kindly to barter trade. All barter trade must be reported to the IRS. You would be hit very hard with taxes and would be forced to liquidate your gold or silver at a perhaps a lower price as well during Tax time
Remember, what happens when the individual wants a deduction for the advice you have provided, he would be forced to report you to the IRS or in the event of an audit, the transaction would be revealed to the IRS! This could possibly cause you considerable problems in the future!!!! | 
