closed Experiment to settle £1020 bank debt costing only £850 - Sealed £20 and £100 silver legal tender coins bundle, plus bonus

[stefffana]

Edit: Risk free trial!

"I totally understand the reluctance in buying a £850 bunch of coins without knowing if it will work or not to settle bank debts. If I would have a credit card or a bank overdraft, I would tried to use myself.

If an established member with good trading history would like to give a try to pay his debts to a bank, I can send the coins and wait up to 14 days for payment or return, depending if the experiment will have positive or negative result. 

This will be beneficial for all of us, to know for future and to understand better the concept of legal tender coins.

Don't be shy, have a try!🤗"

Good afternoon, dear friends!

I have today for sale or exchange a bundle of £1000 face value british silver coins, CGT free and legal tender, untouched by human hand and sealed in original Royal Mint packages. There are two denominations: 3 x £100 (2oz .999 silver) and 35 x £20 (1/2oz .999 silver), various years and reverses types. Some of these coins started developing around rims a lovely natural toning/patina, this is an inevitable process, so nothing to blame.

These commemorative coins can be used to settle debts. It means that if you offer to fully pay off a debt to someone in legal tender, they can’t sue you for failing to repay. The Court will accept these coins. Probably Councils as well, but I don't know exactly how. See https://www.bankofengland.co.uk/explainers/what-is-legal-tender.

Also, there are some nice true stories about people who successfully paid for fuel using this type of coins, of course after challenging moments with cashiers, police and court. I do not recommend, but definitely it is a nice entertainment for bored good citizens who know their rights.😊

See https://www.chards.co.uk/guides/can-i-spend-commemorative-coins-in-shops/476#:~:text=Because Tesco allowed a debt to be incurred,to settle the debt using legal tender currency..

My asking price is 85% from their face value, so £850, posted SD fully insured.

The buyer will receive all the described and pictured £1000 coins plus another one £20 silver coin, opened from the original package, as a nice bonus. 

Alternatively, I will accept an exchange for 45g of hallmarked 9ct gold. If a swap will be agreed, both sides will pay for special delivery fully insured.

The parcel will be shipped in maximum 3 working , after payment, depending of my rota.

Thank you for reading!🤗

Kindest regards,

Stefan.

Edited October 3, 2023 by stefffana

[Blacksmith876]

Sorry if this is a stupid question but can't you cash these in at the Bank for either cash or to add to your balance?

[stefffana]

24 minutes ago, Blacksmith876 said:

Sorry if this is a stupid question but can't you cash these in at the Bank for either cash or to add to your balance?

Unfortunately not. Bank will not accept them. 

[stefffana]

1 hour ago, Blacksmith876 said:

Sorry if this is a stupid question but can't you cash these in at the Bank for either cash or to add to your balance?

 

57 minutes ago, stefffana said:

Unfortunately not. Bank will not accept them. 

Wait a minute!

I think can be settled any debts according the law, so a 1000 pounds debt at bank can be probably settled using them and the bank can not sue you for failing to repay!

I am not 100% sure, but any thoughts are welcomed.

Edited September 22, 2023 by stefffana

[gji25]

56 minutes ago, stefffana said:

Unfortunately not. Bank will not accept them. 

Thats why you should remove the bulk of your cash out of the banking system 😃

[9x883]

These sealed coins💖👌

[Fenlander1]

Lovely unusual bundle.

[ArgentSmith]

6 hours ago, stefffana said:

Wait a minute!

I think can be settled any debts according the law, so a 1000 pounds debt at bank can be probably settled using them and the bank can not sue you for failing to repay!

I am not 100% sure, but any thoughts are welcomed.

I have a story I am inclined to believe from someone I work with, for the purpose of this story my colleagues friend will be called MR X (disclaimer this story is a few years old)

So. Once upon a time there was a man called MR X who spent his time scooping up legal tender coins on eBay and the like at below face value, by all accounts over a period of some time MR X had amassed quite a hoard of these coins. MR X banked with Barclays and had a Barclay Card. Every month MR X would go into his local branch of Barclays and attempt to settle his credit card account with legal tender coins such as listed here. Every month the Bank teller resisted MR Xs attempt to settle his debt with said legal tender coins. Every month X insisted on seeing the "Manager" and every month MR Xs account was settled.

The End

[stefffana]

25 minutes ago, ArgentSmith said:

I have a story I am inclined to believe from someone I work with, for the purpose of this story my colleagues friend will be called MR X (disclaimer this story is a few years old)

So. Once upon a time there was a man called MR X who spent his time scooping up legal tender coins on eBay and the like at below face value, by all accounts over a period of some time MR X had amassed quite a hoard of these coins. MR X banked with Barclays and had a Barclay Card. Every month MR X would go into his local branch of Barclays and attempt to settle his credit card account with legal tender coins such as listed here. Every month the Bank teller resisted MR Xs attempt to settle his debt with said legal tender coins. Every month X insisted on seeing the "Manager" and every month MR Xs account was settled.

The End

Beautiful story, thank you for sharing!😘

[bobski]

Free bump. Let me know if you ever decide to sell off as singles

[9x883]

Pristine and sealed 💖👌

[stefffana]

I totally understand the reluctance in buying a £850 bunch of coins without knowing if it will work or not to settle bank debts. If I would have a credit card or a bank overdraft, I would tried to use myself.

If an established member with good trading history would like to give a try to pay his debts to a bank, I can send the coins and wait up to 14 days for payment or return, depending if the experiment will have positive or negative result. 

This will be beneficial for all of us, to know for future and to understand better the concept of legal tender coins.

Please, comment your interest on the thread.

Don't be shy, have a try!🤗

[James32]

11 minutes ago, stefffana said:

I totally understand the reluctance in buying a £850 bunch of coins without knowing if it will work or not to settle bank debts. If I would have a credit card or a bank overdraft, I would tried to use myself.

If an established member with good trading history would like to give a try to pay his debts to a bank, I can send the coins and wait up to 14 days for payment or return, depending if the experiment will have positive or negative result. 

This will be beneficial for all of us, to know for future and to understand better the concept of legal tender coins.

Please, comment your interest on the thread.

Don't be shy, have a try!🤗

Excellent idea, great opportunity for someone and I'm very curious as to the outcome. 

[ArgentSmith]

11 minutes ago, James32 said:

Excellent idea, great opportunity for someone and I'm very curious as to the outcome. 

Someone with big balls and a YT channel?  would make good viewing. 🍿

[HerefordBullyun]

1 minute ago, ArgentSmith said:

Someone with big balls 

That Is certainly not @stefffana judging by his antics this weekend!

[James32]

13 minutes ago, ArgentSmith said:

Someone with big balls and a YT channel?  would make good viewing. 🍿

@AddictedtoPreciousMetals @365DaysofSilver @BackyardBullion @GoldDiggerDave @COBRASTACKER

[johniom]

Unfortunately this probably won't work. I remember a story in the papers about a guy doing this at HSBC for a while some years ago. Buying from the mint using his HSBC card, getting cashback then paying them in at his local branch.  Eventually they worked out what he was doing and refused him further service and he was left with a huge amount of coins. 

There is also a guy on youtube who goes around petrol stations, supermarkets etc using these coins. It has worked a couple of times but mostly not. That might be your best chance lol.

[stefffana]

9 minutes ago, johniom said:

I remember a story in the papers about a guy doing this at HSBC for a while some years ago. Buying from the mint using his HSBC card, getting cashback then paying them in at his local branch.  Eventually they worked out what he was doing and refused him further service and he was left with a huge amount of coins. 

So, from this story, the bank accepted at beginning these coins to settle the debts. They refused him only after they realised that it was a fraud scheme to repeatedly get cash back from them.😊

 

Edited September 25, 2023 by stefffana

[Leonmarsh]

32 minutes ago, James32 said:

@AddictedtoPreciousMetals @365DaysofSilver @BackyardBullion @GoldDiggerDave @COBRASTACKER

I have Got massive balls but no you tube so don't qualify 

[flyingveepixie]

It might work if presented to the right person in the bank, ie someone who has a personal interest in coinage and/or silver and who might accept them on the basis that he/she keeps them himself and pays the agreed amount into the debted account.  Long shot however, and I suspect it's more likely that the experiment will not work as people with an interest in such things are very much a minority group, and we all know the reputation of banks and bankers don't we...

Edited September 25, 2023 by flyingveepixie

[AddictedtoPreciousMetals]

52 minutes ago, James32 said:

@AddictedtoPreciousMetals @365DaysofSilver @BackyardBullion @GoldDiggerDave @COBRASTACKER

I’d love to but my b@lls shrivelled to the size of garden peas when I looked at my bank balance 😂

[stefffana]

4 minutes ago, AddictedtoPreciousMetals said:

I’d love to but my b@lls shrivelled to the size of garden peas when I looked at my bank balance 😂

It is free trial, so risk free for you!

You can win a free £170 (1/10th of gold equivalent) if your bank will accept the payment or to lose £8 the returning costs.😊

 

 

Edited September 25, 2023 by stefffana

[stefffana]

10 minutes ago, AddictedtoPreciousMetals said:

I’d love to but my b@lls shrivelled to the size of garden peas when I looked at my bank balance 😂

Garden peas!😘

[AddictedtoPreciousMetals]

12 minutes ago, stefffana said:

It is free trial, so risk free for you!

You can win a free £170 (1/10th of gold equivalent) if your bank will accept the payment or to lose £8 the returning costs.😊

 

 

If they accept them at gun point does that still count as a win? Asking for a friend 👀😂

[Spyder]

The problem you have with this experiment is that who ever presents these coins to pay any debt would have to remove from packaging. If it fails, you will be returned coins un packaged which will be harder to resell.  These could be good to pay a parking fine