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If it were a legal requirement they would have a legal requirement to tell you before the money is transfered. But this isn't the case.. Also checking out this topic which has some good info in relation to the subject:

According to google: Are you allowed to own gold in China? All gold and silver held by domestic units, with the exception of raw materials, equipment, household utensils and mementos which the People's Bank of China has permitted to be kept, must be sold to the People's Bank of China. No gold and silver may be personally disposed of or kept without authorization. That reads to me like Chinese citizens cannot own gold or silver without permission from the authorities. So in other words the government keep tabs on every bit of gold bought and sold so certain citizens do not start creating wealth outside of the system. Probably lower class citizens who according to opinions of government entities do not meet the finacial requirements to store gold. So people think this could not happen to us?? Well yes, in this usa, from 1933 to 1974 it was illegal for U.S. citizens to own gold in the form of gold bullion, without a special license. Would they confiscate gold again? Yes. Absolutely they would to fund whatever psychopathic plans they have next and those dealers have a nice list with all the details of every poor sod storing gold in the uk. Seriously, even if you move your physical metal immediately after a crisis shtf situation, they are coming for you to ask where it is and what are you going to say? Iv sold it? When? Who did you sell it to? And then your in a whole world of trouble, better to just hand it over.

For me it boils down to trust. In this day n age with all the cyber security risks and all. Governement today may be very different in a few years and all those records are pointing right at your address and name. If Nixon did it, well it could happen again but with more force if you see what I mean? I am lowest level collecter so its not something i'd worry about but if I had invested larger amounts, I would be very concerned with who knows I have it, or where those records are held. Thinking into the future that is, even if it is the bigger trusted dealers.

Yea right on there, I will have to get on it here.. Its just I was told that further purchases they may ask for ID and that whenever someone buys precious metals they have to do checks. So I said thats not true because gold dealers dont have access to that information and even if they did, they have no way of confirming the person they are talking to over the phone is that person. So whats the point in the phone call? Whats the point in checking? So they are telling us one thing but really thats just not the case. So trust is now lost really because the first thing they have done is lie. There is no security value in the check for either of us. Thats why we have insured, signed for delivery right? As outstanding as some of the dealers are, for me trust really is lost in those dealers for these reasons. I just wanted to express that, I really think its wrong. If 10000 in a year is the number, why are we being asked for id for such small amounts? Im sorry but they are not being straight with people when asking for extra details like this.

Even when buying small amounts of gold and silver more details are being asked for after purchase. Does anyone else feel insulted by this? As if you are trying to scam them or you must be up to something dodgy? Imagine how unacceptable this would be a in a shop for example, you hand the money over or pay by card and he turns around and says, 'now show me some ID'. I would turn into a angry gorilla if someone did that to me in a shop. So how can silver gold dealers get away with it? I understand how larger amounts would require ID for tax purposes. Anyone know the laws on smaller amounts? Because the dealers are trying to say its 'to confirm the address is correct'. But to me that just looks like they are hiding the truth behind 'for your own security' kinda thing. So in other words they are being told to keep records against people really, if they get into money trouble etc.. Really disapointed in this kind of thing from what should be a safe haven for people, something they can trust.. It just doesn't seem that way if someone is keeping tabs on every bit of metal you own. It doesn't really feel like its mine if people know where it is! which is in effect what happening really by them keeping records on your purchases. No bloody wonder people bury their treasure.

Nice color, however artificial.

I came from backyardbullion's youtube channel Dawnbreaker. Happy new year Agaumac and all.

Hey great forum, it's good to see this happening. Glad to become a member.

Hello Silverforum 😁 First post of this 5p I recently found round the back of my old washing machine!