Cash vs. Check for PM Purchases

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#1 Thu, Apr 19, 2012 - 1:30pm
Joined: Dec 13, 2011

Cash vs. Check for PM Purchases

Hi Everyone;

I usually pay cash when I buy my gold or silver coins(Gold or Silver 1 Oz. Eagles) from my local dealer. I want to increase the number I purchase each time, especially gold, but this would mean walking around with $20,000-$30,000 in cash on my way to the coin shop. I'm not even sure if my bank would give me that much cash at once.

I value the anonimity of paying in cash which I would obvously lose if I pay by check. Is there anything else that I need to be aware of if I pay by check ? Is the dealer obligated to report large sales like this or any other implications for a purchase this way?

Thanks in advance for your help.


Edited by: wje3 on Nov 8, 2014 - 5:13am