Paying by cash? Do I need to be suspicious?

[arphethean]

I had an unusual dealing today. 

Someone on Facebook messaged me asking what I had available. Told him all the details and he said he'd take the whole lot, no bargaining,and would post cash to me SD. 

I was happy to get the sales but it's very unusual. I couldn't help wondering if I should be wary but as long as the cash comes before I post and it's genuine, what's the problem? 

[supernova]

12 minutes ago, arphethean said:

I had an unusual dealing today. 

Someone on Facebook messaged me asking what I had available. Told him all the details and he said he'd take the whole lot, no bargaining,and would post cash to me SD. 

I was happy to get the sales but it's very unusual. I couldn't help wondering if I should be wary but as long as the cash comes before I post and it's genuine, what's the problem? 

The problem I now see is that he has your home address and knows that you have silver stashed there? 😬

[watchesandwhisky]

7 minutes ago, supernova said:

The problem I now see is that he has your home address and knows that you have silver stashed there? 😬

This. Sorry but not a good idea.

[Darr3nG]

Sounds really suspect, even the suggestion of posting cash is worrying... who does this?

If he can go to the PO and post cash, he could go to a bank and lodge it (directly to your account, if you feel like trusting him with this info, or to his own and make a transfer).

[Milkyo]

Some people just like simplicity. Post cash get silver. Not everybody has a PayPal account or uses bank transfers. 

[Robb]

Cash leaves no breadcrumbs that can be followed later  😉

[AuricGoldfinger]

It may be that they don’t want to declare cash but want to stick it into PMs. All dealers need to see ID for cash purchases

[Xander]

There is a good chance the "cash" is forgery. 

[Milkyo]

7 minutes ago, Xander said:

There is a good chance the "cash" is forgery. 

Good point

[Robda1986]

Cash = no trails banks won't let you pay cash into someone else's account without the card because they want to see a chain. I hate giving out my bank details and having all my transactions recorded and if I can pay cash I will and I refuse to give I'd yea I'm paranoid but in the UK your watched more than you know 

[Airhead]

On first reading this my initial thought was proceeds of crime, but I am rather cynical these days.

[sixgun]

If you accept the deal i would video everything and i would not give your own address - if you can give a secure location but not your home this is better.

My view is this is undeclared cash - it might be from crime or simply undeclared - the buyer wants to launder it into precious metal. Don't ask questions - it is cash - 

The second possibility would be the cash is counterfeit - Can you test notes? If you can't don't do the deal.

[silenceissilver]

5 hours ago, arphethean said:

what's the problem? 

He is probably a libertarian like myself and hates the government and banks keeping records of his purchases. If he asks for silver and agrees on the purchase on Facebook they have it anyway but at least you can try and make it more difficult and not have it on your bank account,as well. Of course he could try and send you counterfeits but the chances are low (because you'd have his address - ready to be passed on to the police) and so could you - sending him fake silver (of course I don't suggest you would). So just as he needs to check the silver, you need to check the bank notes.

[silenceissilver]

Just now, sixgun said:

If you accept the deal i would video everything and i would not give your own address - if you can give a secure location but not your home this is better.

My view is this is undeclared cash - it might be from crime or it simply undeclared - the buyer wants to launder it into precious metal. Well don't ask questions - it is cash - 

The second possibility would be the cash is counterfeit - Can you test notes? If you can't don't do the deal.

CErtainly agree witht he first paragraph. But laundering it - no, I don't think so, that's what the propaganda against cash wants to make us believe but money laundering doesn't require cash at all.

[HillWalkerDundee]

On 27/07/2020 at 21:16, Robda1986 said:

 I hate giving out my bank details and having all my transactions recorded and if I can pay cash I will and I refuse to give I'd yea I'm paranoid but in the UK your watched more than you know 

I will say, and this applies to whatever you do, that you should have a minimum of three current accounts. One for money going out, one for money coming in, one to contain balances. No one gets to know the third account.

[Booky586]

11 minutes ago, HillWalkerDundee said:

I will say, and this applies to whatever you do, that you should have a minimum of three current accounts. One for money going out, one for money coming in, one to contain balances. No one gets to know the third account.

Excellent advice!