Accepting cash in exchange for silver bars

Guys and gals... When you buy/sell something from private people, and
go to place like a bank, just how do you do it, put the bullion on the
table and count the $$s? Would the bank possibly want to kick us out
in the middle of a trabsaction? The amount in question is almost $3k.

The buyer is overwhelmingly likely a good person, he has great ebay
feedback.

i

On Wed, 10 May 2006 01:30:57 GMT, Ignoramus19605 wrote:
Guys and gals... When you buy/sell something from private people, and
go to place like a bank, just how do you do it, put the bullion on the
table and count the $$s? Would the bank possibly want to kick us out
in the middle of a trabsaction? The amount in question is almost $3k.

If it's your bank, I can't see them having a problem with it.

The buyer is overwhelmingly likely a good person, he has great ebay
feedback.

As good of a measure as any.

On Wed, 10 May 2006 02:34:46 GMT, Ignoramus19605 wrote:
On 10 May 2006 02:26:10 GMT, Dave Hinz wrote:

If it's your bank, I can't see them having a problem with it.
As good of a measure as any.

Thanks Dave. Another question. The buyer does not like the idea of
bringing cash, he wants to bring a money order. I have two questions
(one of which I can answer tomorrow, but anyway), 1) can I cash a
$1,450 money order at a currency exchange, and 2) what are my risks
here.

Counterfeit money orders aren't unheard of. How about this: meet at
_his_ bank. He cashes a check, hands you presidents, you give him the
bar. That's how I handled the cash when I sold my backhoe about a year
ago.

I assume that there is no mandatory reporting of such small
transactions (under $3k).

I think it's more than that.

I don't know what country you're in, but in this day and age you can't
trust anybody. I won't accept payment unless it's cash or a cashiers
check that I watch the bank make out in person. Even with cash, if
they brought it to the transaction place I don't trust that it's real
until I've had a bank run it through their machines. Fake cashiers
checks are rampant these days and from what my last bank told me it
could be 2 weeks before they knew it was fake and that they would
immediately take the money back from ME. Banks are also famous for
putting holds as long as 5 business days on things so you can't move
the money. So, I only take what I SEE the bank produce in person,
whether that be a check or cash from the vault.

That being said that's just for large transactions. A couple of
hundred dollars I feel less leary about.

-beaumon

On Wed, 10 May 2006 02:34:46 GMT, Ignoramus19605
wrote:


Thanks Dave. Another question. The buyer does not like the idea of
bringing cash, he wants to bring a money order.

95% chance that it is forged. I would never take a money order from
someone I had no GOOD recourse against.


Reclining Buddha

The Original Couch Potato!

On Wed, 10 May 2006 09:35:08 -0400, Reclining Buddha wrote:
On Wed, 10 May 2006 02:34:46 GMT, Ignoramus19605
wrote:


Thanks Dave. Another question. The buyer does not like the idea of
bringing cash, he wants to bring a money order.

95% chance that it is forged. I would never take a money order from
someone I had no GOOD recourse against.

Yeah, seriously Iggy, meet at his bank. He can get the cash however he
wants, but let him handle the non-cash monies.

Hey - I've got a benchtop milling machine, interested in a partial
trade for a bar? Thing about the 100 ouncers, it's not one of those
impulse things, takes some planning to arrange at least for someone at
my level of PM investment.