I blame all that free money we got on the furlong, some people were sat on tens of thousands of pounds now they are over the freshold on benefits working tax credits and are hiding money into gold because it can be easier sold for cash with little loss. Biggest example was the Bank of England said 150 billion pounds of cash was missing out of the system. This was down to people withdrawing cash out of ATMs and hiding it in the house etc.
Thing is though Smoggy is a regular customer, I'm a regular customer of a company and bought £thousands of gold in the past 12 months and not a murmer from my bank or the dealer. I did have one transaction which wouldn't go through so I switched to a credit card instead of a debit and it went through. I think they are getting concerned with how much money is leaving the Banking system as a whole. Less confidence in FIAT currencies.
I never have this issue with bullion by post, although I know there is a limit per year, I reckon it’s to get absolute certainty where the gold is going so they know where to come to seize it should it be in short supply, as you know China Russia etc are buying it up 10 fold 🤷🏼♂️
If a bullion dealer can't find a way around this draconian law, then the dealer is useless
I blame all that free money we got on the furlong, some people were sat on tens of thousands of pounds now they are over the freshold on benefits working tax credits and are hiding money into gold because it can be easier sold for cash with little loss. Biggest example was the Bank of England said 150 billion pounds of cash was missing out of the system. This was down to people withdrawing cash out of ATMs and hiding it in the house etc.
Thing is though Smoggy is a regular customer, I'm a regular customer of a company and bought £thousands of gold in the past 12 months and not a murmer from my bank or the dealer. I did have one transaction which wouldn't go through so I switched to a credit card instead of a debit and it went through. I think they are getting concerned with how much money is leaving the Banking system as a whole. Less confidence in FIAT currencies.
I never have this issue with bullion by post, although I know there is a limit per year, I reckon it’s to get absolute certainty where the gold is going so they know where to come to seize it should it be in short supply, as you know China Russia etc are buying it up 10 fold 🤷🏼♂️
I was shocked to see that last year Chian was the biggest gold mining country.
Never happened to me. Mind you, I'm not as rich as you buying 14 sovs 😅
It's a nuisance, but i wouldn't get heated up about it pal 🤝
I normally wouldn’t but I needed a couple as bought as a gift for someone.