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New guy in a strange situation with 1kg of plat


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I'm not exactly an investor in precious metals however I've found myself in a situation where I'm attempting to legally mail 1kg of unmarked platinum refined from industrial waste into the United States. I also want to figure out how to sell it without an agency knocking on my door asking where I found a 1kg lump of precious metal or where the new money in my account came from.

Edited by plattyguy
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1 hour ago, plattyguy said:

I'm not exactly an investor in precious metals however I've found myself in a situation where I'm attempting to legally mail 1kg of unmarked platinum refined from industrial waste into the United States. I also want to figure out how to sell it without an agency knocking on my door asking where I found a 1kg lump of precious metal or where the new money in my account came from.

If it was all legitimately accumulated then I don’t see an issue.

Why into the US?

I guess they will think it’s come from stolen CAT convs in the UK.

A bank transfer of that size would raise a few eyebrows. 😬 

Decus et tutamen (an ornament and a safeguard)

YouTube - https://www.youtube.com/channel/UC5OjxoCIsDbMgx7MM_l4CmA

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5 minutes ago, MancunianStacker said:

If it was all legitimately accumulated then I don’t see an issue.

Why into the US?

I guess they will think it’s come from stolen CAT convs in the UK.

A bank transfer of that size would raise a few eyebrows. 😬 

Because I live in the US, I don't even know what  CAT conv is. My friend works at an industrial facility and he collected scrap then melted it down. I think it can be mailed legally, but yes that money transfer will raise eyebrows. I suppose if i actually manage to find a buyer getting a receipt might help that situation.

Edited by plattyguy
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8 minutes ago, plattyguy said:

Because I live in the US, I don't even know what  CAT conv is. My friend works at an industrial facility and he collected scrap then melted it down. I think it can be mailed legally, but yes that money transfer will raise eyebrows. I suppose if i actually manage to find a buyer getting a receipt might help that situation.

Catalytic converters

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1 minute ago, stackspot said:

Catalytic converters

Ah ok. Obviously I have no idea what I'm doing so I'm trying to figure out how to get this into the states legally and sell it legally.... What sort of questions should I be concerned about being asked or what kind of issues will I run into?

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21 minutes ago, plattyguy said:

Because I live in the US, I don't even know what  CAT conv is. My friend works at an industrial facility and he collected scrap then melted it down. I think it can be mailed legally, but yes that money transfer will raise eyebrows. I suppose if i actually manage to find a buyer getting a receipt might help that situation.

Ah ok, so are you in Nebraska now? Some of the US members might be able to help with this.

Which state are you trying to get it to? That might make a difference?? 

 

Decus et tutamen (an ornament and a safeguard)

YouTube - https://www.youtube.com/channel/UC5OjxoCIsDbMgx7MM_l4CmA

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15 minutes ago, MancunianStacker said:

Ah ok, so are you in Nebraska now? Some of the US members might be able to help with this.

Which state are you trying to get it to? That might make a difference?? 

 

It's being shipped to Kansas USA. As far as I can tell the only concern I've read in the USPS information is that uncut diamonds prohibited. Precious metals don't seem to need any kind of documentation they merely need to be mailed as first class international registered mail. What I'll do with it once I get it is a pretty big question too.

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spacer.png

 

 

Photo of the platinum. Not sure how much of a problem it's current state would be to a potential buyer as it's not in bars or coins. It's a straight up over 95% lump of platinum that weighs over 30 ounces.

Edited by plattyguy
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I would hold on to it, or somehow get it graded, for the long term. Or maybe if it spikes like it did in 2009. Platinum I believe is very undervalued & a great long term investment. I intend to buy a few a year, or more if the price dips back under £650. 

You can always sell it to a dealer of some sort for really platinum coins. You won't get much gold, so maybe a lot of decent silver coins as that is supposed to have the biggest price hike. Or get a nice set of collectable coins to hold for your older age? 

Perhaps sell it on a huge spike (possibly due in the next 3 years) & then invest in gold when that's on  a bear run again (ie prices are cheaper). You need to be VERY patient for that though. 10-20 years possibly?? I'm no expert. 

Edited by Stacktastic
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10 hours ago, plattyguy said:

I'm not exactly an investor in precious metals however I've found myself in a situation where I'm attempting to legally mail 1kg of unmarked platinum refined from industrial waste into the United States. I also want to figure out how to sell it without an agency knocking on my door asking where I found a 1kg lump of precious metal or where the new money in my account came from.

Honestly, I would break it down in potential chunks sell it here. Then if you live in US Western Union yourself a chunk of the money where allowed to that address and pic it up etc. Might be able to swap it out aswell for some gold and quickly turn your legitimate dealings more legitimate to any authority. 

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