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'Bart'

Not Leaving A Paper Trail

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Purely academic in my case, my own situation is much like that scene in Scary Movie 3.

4800_3.jpg

Is it still possible to avoid leaving a paper trail buy buying with cash from a bullion dealer. Was it ever?

What about places like pawn shops or alternative sources of gold?

As I say, purely academic for me but up to date info may be of interest to others.

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Purely academic in my case, my own situation is much like that scene in Scary Movie 3.

4800_3.jpg

Is it still possible to avoid leaving a paper trail buy buying with cash from a bullion dealer. Was it ever?

What about places like pawn shops or alternative sources of gold?

As I say, purely academic for me but up to date info may be of interest to others.

Yes and I did this recently.

Walked into "Bullion by Post" which is in the jewellery quarter in Birmingham, gave them my filthy fiat and walked out with a Sov.

No questions asked, address given or anything. The same has been true when i've sold too.

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wrong question. question should be "how do you make YOUR trail less interesting than the next guy". Any investigation into gold holders by the authorities (or an inside job in a dealer looking for robbery targets) will have limited resources (time/people/systems). Of all the thousands of buyers, all you have to be is the less interesting one than the guy who makes regular sizeable purchases from the same dealer using the same address.

so -

i) use different dealers (although this might flag as unusual in itself to a really good analyst)

ii) small amounts

iii) different addresses (if you rent, bonus as you can move about over time). short term serviced apartment could be handy.

iv) different bank accounts to pay for it (got a mate you can trust? get him to make the payment. married? wifes account in maiden name. set up a family trust or small company, get a bank account in those names)

v) use different countries if you can (see other threads about cross border requirements)

vi) use cash if you want, but be aware that if you are using lots of cash, you are suspicious (and rightly so....)

I think the danger for anyone buying gold is not from the authorities, but as I say above someone on the inside at a dealer having a nice list of people who have gold at home........

Edited by wherebee

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I think the danger for anyone buying gold is not from the authorities, but as I say above someone on the inside at a dealer having a nice list of people who have gold at home........

They don't have a list of people who have gold at home, they have a list of people who have bought gold. The bought gold may be at the address of the purchaser, it may in a vault 200 miles away or it may be at a trusted friend/relatives house 2 miles away.

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Hello Bart, you got me on the virtuous slope in the first place.

In York and Manchester there are bullion shops you just walk in and pay cash for their gold.

Spinks on the Shambles in York you pay 10% over spot. Unfortunately the shopkeeper won't be persuaded that second-hand silver should be VAT-free. So I won't pay her 20% + (10% x 1.2) = 32% markup.

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They don't have a list of people who have gold at home, they have a list of people who have bought gold. The bought gold may be at the address of the purchaser, it may in a vault 200 miles away or it may be at a trusted friend/relatives house 2 miles away.

still worth sending the heavies round to someone who has bought 100k of gold being sent to a residential address. if it's there, you have an easy win. if it is not, odds are the person has other items of worth......

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  • 277 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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