Selling for silver or gold

[ady]

If I were to sell for silver/gold would I be done for money laundering, both parties agreeable?

Say as an example £200k house, could I sell for 10,000 Britannia's (lets call £20 an oz silver) or like wise sovereigns 667 (lets call £300 a sov)

or my car for 2 sovs or 30 brits

How legal is tender of the coin?

[Bigmarc]

I wonder what the implications of the fact that the Brit has 2 pounds value stamped on it. Are you then selling your house for £20,000. 

[HawkHybrid]

gold/silver is treated as an asset?

would you not be bartering rather than selling if no currency is involved?

 

HH

Edited July 20, 2021 by HawkHybrid

[dangelo]

Sounds fine, you are asking for legal tender and you can choose to accept 20k in silver brits for example its up to you.  But i think on the land registry the sale will need to be recorded as 20k.  This has benefits for buyer and seller (SDLT avoided).  I'm no lawyer but it sounds like a legit loophole.  

Likewise for rent im exploring a similar topic... accepting gold as a deposit avoids the stupid months rent deposit limitation (giving over keys to your property to tennants and the fascist government says you can only take a tiny deposit).  Even worse, the deposit now must be held by compushare the company with a monopoly hold on stock broking and they get the combined interest!  Well you are allowed to accept property instead of cash as deposit and no limits apply.. so gold is ideal.  Gold also can appreciate which means if you get to keep the deposit it may have grown in value to your benefit and not compushares.  

Good luck to you selling for gold or silver.  Human 1, Fascists 0.  Hopefully...

[Paruwka]

On 20/07/2021 at 17:03, Bigmarc said:

I wonder what the implications of the fact that the Brit has 2 pounds value stamped on it. Are you then selling your house for £20,000. 

Coins must have a face value, else they are not legally coins. The face value of precious metal coins (silver, gold and platinum) is irrelevant as they are classed as Non Circulating Legal Tender (NCLT). No merchant is required by law to accept NCLT as payment. Thus the house is not considered as being sold for 20K but at the rate of exchange for the bullion. You can not lower stamp duties (or whatever the term is in the UK) by claiming the face value of the coin. 

Edited July 22, 2021 by Paruwka