Car Trader starting to invest in Gold

[GoldDiggerDave]

7 minutes ago, Beanyman said:

Not illegal to take cash just having to drive to the bank queue up and get the 3rd degree is not worth the hassle.

That's exactly what they want to make us go CBDC the we are all stuffed. Unless we vote for Donald Trump to be our PM

I detest the idea of CBDC’s but I’m acutely aware of cash has second hand status as a medium of exchange, nothing about feelings it’s the real world reality.   If you got paid in cash at the end of every month, how would you pay 95% of your bills? You would have to take that cash and deposit it back into the bank to for your monthly costs of living. 
 

 

[Beanyman]

45 minutes ago, GoldDiggerDave said:

I detest the idea of CBDC’s but I’m acutely aware of cash has second hand status as a medium of exchange, nothing about feelings it’s the real world reality.   If you got paid in cash at the end of every month, how would you pay 95% of your bills? You would have to take that cash and deposit it back into the bank to for your monthly costs of living. 
 

 

Simples don't pay them, use your government Trust fund.....

[johniom]

I don't see why most ordinary sellers on here wouldn't accept cash for coins, I guess it's a matter of personal circumstances. For professional dealers it may pose more of a problem. Cash can be sent fully insured by Royal Mail Special Delivery. I'm happy to accept cash or bank transfer.

[Earthmetal]

15 minutes ago, johniom said:

I don't see why most ordinary sellers on here wouldn't accept cash for coins... ...Cash can be sent fully insured by Royal Mail Special Delivery. I'm happy to accept cash...

⬆️ This.

I can fully understand why a buyer wouldn't want to, as it will cost them seven or eight quid extra, but a seller? If they refuse it they're just not worth buying from ever again.

This whole current "money laundering" narrative is 99.999% 🐂💩 (Our government launders your tax through arms companies though) don't fall for it, cash is not 'a bad thing'.

[LemmyMcGregor]

On 01/02/2024 at 19:01, GoldDiggerDave said:

Also the same issue you can’t take more than 10k off someone in cash…..and why would you want to?  Cash in amounts over a few hundred quid is an inconvenience verging on a liability. 

I like privacy. What I do with my money is nobody's business.

With a very few exception, I don't trust anyone, and the State is the entity I trust the least. Historically the worse atrocities have not been committed by individuals, but by governments, and the fact that the government would want to track everything I do is a scare proposition.

Polish extermination? Government.
Cossaks extermination? Government.
Jew extermination? Government.
Holodomor? Government.
Armenian genocide? Government.

Ah! But those are things of the past!

Uyghur genocide. Ongoing, government.
Rohingya genocide. Ongoing, government.
Darfur genocide. Ongoing, government.

Governments that want to abuse their population first remove their ability to defend themselves, queue gun control and removal, then remove their ability to store wealth, so they take the gold.

Now, I am confident that you have absolute trust in the British government, all parties have solid proven records of trustworthyness and we should give them all our details knowing that are in safe hands, who would not trust our Tory government or a possible Labour government with all of out private information? You know, the guys that keep repeating that we need a wealth tax.

But bare with me for a minute, say that by chance someone not trustworthy takes over, or maybe we are invaded by a foreign entity or, without going to excesses, the government gets hacked, or someone steals and sell that data, and now you have a bad actor that knows exactly what and where you have it, would you not have wanted to keep that data private? And what better way to keep that data private than to use cash?

[theman73]

13 minutes ago, Earthmetal said:

I can fully understand why a buyer wouldn't want to, as it will cost them seven or eight quid extra, but a seller? If they refuse it they're just not worth buying from ever again.

Mmmm, I met quite a few forum members in person to seal our deals, some of them were cash deals, for private sellers will be a problem going over and over with thousands to the bank, endless questions, endless calls to explain them for what that money was. No bank will believe you that you sold your car weekly.

Plus the security risk, fake notes and the risk of meeting strangers carrying high-value items. Is not for everyone. 

[GoldDiggerDave]

12 minutes ago, LemmyMcGregor said:

I like privacy. What I do with my money is nobody's business.

With a very few exception, I don't trust anyone, and the State is the entity I trust the least. Historically the worse atrocities have not been committed by individuals, but by governments, and the fact that the government would want to track everything I do is a scare proposition.

Polish extermination? Government.
Cossaks extermination? Government.
Jew extermination? Government.
Holodomor? Government.
Armenian genocide? Government.

Ah! But those are things of the past!

Uyghur genocide. Ongoing, government.
Rohingya genocide. Ongoing, government.
Darfur genocide. Ongoing, government.

Governments that want to abuse their population first remove their ability to defend themselves, queue gun control and removal, then remove their ability to store wealth, so they take the gold.

Now, I am confident that you have absolute trust in the British government, all parties have solid proven records of trustworthyness and we should give them all our details knowing that are in safe hands, who would not trust our Tory government or a possible Labour government with all of out private information? You know, the guys that keep repeating that we need a wealth tax.

But bare with me for a minute, say that by chance someone not trustworthy takes over, or maybe we are invaded by a foreign entity or, without going to excesses, the government gets hacked, or someone steals and sell that data, and now you have a bad actor that knows exactly what and where you have it, would you not have wanted to keep that data private? And what better way to keep that data private than to use cash?

You know me and I am not pro cashless, the system is system up now to be anti cash to the point bars, restaurants, bakeries etc won’t take it, and the more automation we get, car parks,    vending machines the more these are also converted to cashless.

Cash is not king anymore, it’s a very sad reality but it’s a fact.  

The reality of people exchanging large amount in the case of the OP, 52k ish in cash for 1kg without ID is verging on the ridiculous, as the seller is left with the same problem how to get shut of it, and it’s a total inconvenience of trying to bank it and be nailed for the charges and no doubt the 3rd degree from the bank or HMRC turning up at your door. 
 

I can’t stress enough I hate the idea of cashless but the system doesn’t care about my feelings, and as I said above trying paying your bills in cash, it’s impossible in some cases, I’ll have a go at ordering something on Amazon and I’ll see if Jeff will accept £50 in the post for payment. 
 

 

 

[Earthmetal]

51 minutes ago, theman73 said:

Mmmm, I met quite a few forum members in person to seal our deals, some of them were cash deals, for private sellers will be a problem going over and over with thousands to the bank, endless questions, endless calls to explain them for what that money was. No bank will believe you that you sold your car weekly.

Plus the security risk, fake notes and the risk of meeting strangers carrying high-value items. Is not for everyone. 

Yes, but not all cash has to be deposited in, kept in, and withdrawn from, a bank.

[Earthmetal]

42 minutes ago, GoldDiggerDave said:

I’ll have a go at ordering something on Amazon and I’ll see if Jeff will accept £50 in the post for payment.

Use Ebay instead. I sell my old tat valuable collectibles on there and would happily accept cash posted SD.

[MrStacker]

More recently dealers are now requesting ID and additional information even when making 1k purchases of gold. Regardless if you’ve purchased before or not. 

[stackerp5]

4 hours ago, Earthmetal said:

⬆️ This whole current "money laundering" narrative is 99.999% 🐂💩 (Our government launders your tax through arms companies though) don't fall for it, cash is not 'a bad thing'.

☝️ This. 100%.

Also, I've never had to pay to deposit cash. I am wondering which bank charges to deposit cash?

If users choose to bank with banks that charge for cash deposits, i.e., make cash an inconvenience, it's natural these users become averse to cash.

I can easily go into any post office and deposit free of charge without travelling far. I don't mind sitting on large amounts of cash from sales, depositing it every now and then, or asking mates to transfer it to me in exchange for physical cash if I need the money in the bank.

I prefer cash and many places around the south west take cash. Some businesses prefer it, but it doesn't mean they're being sneaky or laundring money or evading tax if they prefer cash. To assume that out of the get-go is pure ignorance. A few well-established local businesses are cash only. I guess it depends where you live in the country though.

[SiCole]

1 minute ago, stackerp5 said:

☝️ This. 100%.

Also, I've never had to pay to deposit cash. I am wondering which bank charges to deposit cash?

 

Most business accounts now charge to deposit cash.

[Bars]

I believe @StackSellRepeat might be able to help.

[Paul]

3 hours ago, Earthmetal said:

I sell my old tat valuable collectibles on there and would happily accept cash posted SD.

In the days before PayPal and internet banking around 1997-1999  when i was wheeling and dealing with rock and pop memorabilia in my uni years, using uni super fast internet to arbitrage USA promo CDs & US vinyl in bulk from eBay.com (USA) to UK record shops and record fair dealers before eBay (UK) wasn't even a think and UK folk at home were mostly using dial up

Cash £££ via special delivery was "the norm" back then over cheques/postal orders.  and like we have here on the forum everything was based on trust.  I would risk/trust sending off £250-£500 of stuff away to dealers with rep and who i had met at fairs.  Because i trusted them, they began to trust me

It always made me chuckle folk buying from likes of Germany and Italy spending a few hundred quid, you would always get it arrive in £50 notes 

I would never see a £50 note here in the north east, yet it was easier to get them from a few thousand miles away abroad than from your local bank/ATM  

 

[theman73]

33 minutes ago, SiCole said:

Most business accounts now charge to deposit cash.

But not 4%...

[Beanyman]

5 hours ago, GoldDiggerDave said:

You know me and I am not pro cashless, the system is system up now to be anti cash to the point bars, restaurants, bakeries etc won’t take it, and the more automation we get, car parks,    vending machines the more these are also converted to cashless.

Cash is not king anymore, it’s a very sad reality but it’s a fact.  

The reality of people exchanging large amount in the case of the OP, 52k ish in cash for 1kg without ID is verging on the ridiculous, as the seller is left with the same problem how to get shut of it, and it’s a total inconvenience of trying to bank it and be nailed for the charges and no doubt the 3rd degree from the bank or HMRC turning up at your door. 
 

I can’t stress enough I hate the idea of cashless but the system doesn’t care about my feelings, and as I said above trying paying your bills in cash, it’s impossible in some cases, I’ll have a go at ordering something on Amazon and I’ll see if Jeff will accept £50 in the post for payment. 
 

 

 

We will ALL have to take what they give us unless we ALL say Bloody NO......

[Spyder]

We are in the mess we are in today because too many people are happy to give up their freedom for a what they perceive to be an easier life.  One day your easier life will be your nightmare. 

I use cash as much possible.  If I sell something on FB it will be cash and the cash gets used in local shops, petrol stations etc. I only use a card when there is no other option. 

Using cash, gives you more control on what you spend.   If the OP was local, I would have no problem selling them gold for cash.   

By the way, there are still places in Hatton Garden where you can purchase with cash and sell for cash.

Edited February 3 by Spyder

[Earthmetal]

57 minutes ago, Spyder said:

We are in the mess we are in today because too many people are happy to give up their freedom for a what they perceive to be an easier life.  One day your easier life will be your nightmare. 

I use cash as much possible.  If I sell something on FB it will be cash and the cash gets used in local shops, petrol stations etc. I only use a card when there is no other option. 

Using cash, gives you more control on what you spend.   If the OP was local, I would have no problem selling them gold for cash.   

By the way, there are still places in Hatton Garden where you can purchase with cash and sell for cash.

Simply clicking 'like' wasn't sufficient for this post, so here's some extra love: ❤️💛🧡💟💚💕💙💞💜💖💓💝💗

[davejones]

Used vehicles are tax free so a good trade to be in for cash

[Coverte]

5 minutes ago, davejones said:

Used vehicles are tax free so a good trade to be in for cash

Not entirely, unless a part timer or a dealer so small they somehow keep t/over below the £85,000 VAT threshold, car dealers have to pay 20% VAT on the difference between the buying and selling cost - Gross, not net, ie: no service/refurb costs allowance.

Obviously VAT can be reclaimed on the VAT element of any parts/labour, but it's basically similar to the margin scheme used silver dealers utilise.

Since the VAT section have more powers than any other part of HMRC, not people to be the wrong side of.

Keep good records regardless is always a good idea and for self discipline IMHO.

[HonestMoneyGoldSilver]

2 hours ago, Spyder said:

We are in the mess we are in today because too many people are happy to give up their freedom for a what they perceive to be an easier life.  One day your easier life will be your nightmare. 

I use cash as much possible.  If I sell something on FB it will be cash and the cash gets used in local shops, petrol stations etc. I only use a card when there is no other option. 

Using cash, gives you more control on what you spend.   If the OP was local, I would have no problem selling them gold for cash.   

By the way, there are still places in Hatton Garden where you can purchase with cash and sell for cash.

[Sovhead]

ALWAYS USE CASH fcuk all the tyrants, grifters and shady globalists in EVERY POLITICAL PARTY.

Don’t feed their dream.

scumbags 😡😡😡😡

[Sovhead]

3 hours ago, Spyder said:

We are in the mess we are in today because too many people are happy to give up their freedom for a what they perceive to be an easier life.  One day your easier life will be your nightmare. 

I use cash as much possible.  If I sell something on FB it will be cash and the cash gets used in local shops, petrol stations etc. I only use a card when there is no other option. 

Using cash, gives you more control on what you spend.   If the OP was local, I would have no problem selling them gold for cash.   

By the way, there are still places in Hatton Garden where you can purchase with cash and sell for cash.

I flew to London recently from Spain hotel booked with a card, 6 of us went to the Hotel bar ordered 6 pints of lager my round he pours them I produce cash and it’s not accepted card only.

No worries mate pub across the road it is.

His face was tripping him.

[Petra]

1 minute ago, Sovhead said:

I flew to London recently from Spain hotel booked with a card, 6 of us went to the Hotel bar ordered 6 pints of lager my round he pours them I produce cash and it’s not accepted card only.

No worries mate pub across the road it is.

His face was tripping him.

👍👍

[Sovhead]

A proper knocking shop was that hotel btw stunning girls obviously I kept away from that..but a cracking pub 👍🏻

Edited February 3 by Sovhead