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- - Bullion and privacy (http://goldismoney.info/forums/showthread.php?t=19080)

rerichards | 03-09-2005 11:59 AM
Bullion and privacy I am new to the precious metals market. Is it true that when you purchase gold bullion that you are required to provide your SSN?

Mr. Shiny | 03-09-2005 12:23 PM
Re: Bullion and privacy rerichards, listen to Skyvike, but, there are plenty of dealers who after 9/11, who tell you that in the interest of homeland security you are required to provide all sorts of personal info. this of course is untrue, only CASH purchases over 10k are reportable, cash does include certified checks, (but not personal chks.), as well as two or more smaller (<10k) cash purchases that may be related. (dealer discretion)

hoarder | 03-09-2005 12:51 PM
Re: Bullion and privacy As long as you walk into the coin shop with no more than $9999, there is no reason to give any information. Here in Texas, if you buy less than $1000 at a time it is subject to state tax. Also if you sell any amount to a dealer, at least in the city of Austin, they are required to get your driver's license number and name for the police burglary division (so sell to individuals instead). Hopefully others will post their state's idiosyncracies when silver really takes off. Many of us may be selling in several states. Demanding privacy is perfectly legitimate, anyone who has bullion wants to keep that information secret....give out your address and the info might fall into the hands of burglars. Any demands from the public sector that bullion ownership be made public knowledge should be quickly opposed for security reasons.

Sequoia | 03-09-2005 01:53 PM
Re: Bullion and privacy There will come a time when TPTB will want you to prove your identity in any transaction. This is the whole idea of a national ID. With the new "voluntary" National Standards for State Drivers Licenses, we, for all practicle purposes, have a national ID. It is just a matter of time to when they incrementally impose more and more info on it, and require it for more and more functions. It is past time for generating other identities.

lonestarsilver | 03-10-2005 11:00 PM
Re: Bullion and privacy Quote:
Originally Posted by hoarder As long as you walk into the coin shop with no more than $9999, there is no reason to give any information. Here in Texas, if you buy less than $1000 at a time it is subject to state tax. Also if you sell any amount to a dealer, at least in the city of Austin, they are required to get your driver's license number and name for the police burglary division (so sell to individuals instead).
Interesting, there's no police reporting law like that in the DFW area to my knowledge. I have a few customers that I don't know their name or gender, just a mailing address. Jennifer www.discountsilverclub.com

The Argent Dragon | 03-11-2005 12:02 AM
Re: Bullion and privacy Quote:
Originally Posted by lonestarsilver Interesting, there's no police reporting law like that in the DFW area to my knowledge. I have a few customers that I don't know their name or gender, just a mailing address.
Yep, no such thing here in D/FW and I've never been asked for such info. regardless of buying or selling for any amount.

hoarder | 03-11-2005 07:02 AM
Re: Bullion and privacy Quote:
Originally Posted by lonestarsilver Interesting, there's no police reporting law like that in the DFW area to my knowledge. I have a few customers that I don't know their name or gender, just a mailing address. Jennifer www.discountsilverclub.com
It must be Austin Police Department. Thanks for the feedback, now I know to sell in DFW, Houston or San Antonio instead when the time comes. I may even approach my local dealer with this issue and offer to buy names (or phone numbers) of buyers from him.

Pyrite | 04-11-2005 02:12 PM
Re: Bullion and privacy "offer to buy names (or phone numbers) of buyers from him." Good luck. If a dealer DOES provide customer names he should be publicized a LOT. One of the biggest bullion sales I ever made was through REFUSING to provide names to a customer. He was just checking to see if I would tell him who bought gold from me. He selected our shop because I would.....NOT. :clap2:

hoarder | 04-11-2005 02:24 PM
Re: Bullion and privacy Quote:
Originally Posted by Pyrite "offer to buy names (or phone numbers) of buyers from him." Good luck. If a dealer DOES provide customer names he should be publicized a LOT. One of the biggest bullion sales I ever made was through REFUSING to provide names to a customer. He was just checking to see if I would tell him who bought gold from me. He selected our shop because I would.....NOT. :clap2:
I wouldn't expect him to give out a name of a buyer without that buyers consent, of course. All I would want is a john doe and a pre-paid cell phone number, which is all I would be willing to give out myself. In Austin dealers are required to get drivers licence numbers from sellers which of course sends a lot of business to other cities. It would serve local dealers well to charge a fee for putting buyers in contact with sellers rather than lose the business altogether.

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