Buying with 100% cold hard cash

[Tonyfsu21]

Originally Posted by Jcy90

First of all congrats!! Second of all cash is King! As long as you're not paying $10,000 in 1 shot they do not have the right to ask any questions and should be greatful! Third of all where is this pizza I would love a slice!

Suppose the watch costs $14,000? Could you pay $9999 cash and $4001 on a debit or credit card without questions? I had this issue in the islands @ a Cartier Botique purchasing a bracelet for my wife. They certainly give you strange looks and they clearly don’t like having to count cash. PS: if your a cruiser in the carribean, the reason they ask what ship your on is not for “marketing purposes”.... Your purchased is logged and documented and forwarded to US customs.

[faz]

Originally Posted by Tonyfsu21

Suppose the watch costs $14,000? Could you pay $9999 cash and $4001 on a debit or credit card without questions? I had this issue in the islands @ a Cartier Botique purchasing a bracelet for my wife. They certainly give you strange looks and they clearly don’t like having to count cash. PS: if your a cruiser in the carribean, the reason they ask what ship your on is not for “marketing purposes”.... Your purchased is logged and documented and forwarded to US customs.

Here is the IRS requirements:

https://www.irs.gov/businesses/small...-of-over-10000

You can buy any item in cash, as long as the store accepts that amount of cash, for any amount of cash. The only requirement is that the store needs to file a form to report cash purchases of over 10k. This I was told long time ago was to stop money laundering activities.

Now of course if I had a store and someone walked in with a suitcase full of cash, I would not accept it as I wouldn't have the means to walk it to the bank myself and not get robbed. I imagine any store can set its own policies on the amount of cash they want to handle, or if they want to be bothered by reporting and forms and all the legalities or not.

[HK Islandboy]

Originally Posted by stylinleems

This is exactly how I paid for my BLNR (but in CDN currency) & got a great discount last year

Nice!

Alas all I got was a cup of tea...but that was also the price of getting one of the early SD43s to arrive at an AD here!

[HK Islandboy]

Originally Posted by tng11

I tried the "cash discount" angle with my AD. No dice - they wouldn't give a penny off for using cash. With that considered, I used my AMEX and got enough points, in addition to unlocking a sign-up bonus enough for a round trip business class ticket to Europe.

[HK Islandboy]

Originally Posted by Overwound

At first I though you circled the watch you were buying...then I realized it's a rubber band. :)

LOL! I'd missed that

[pickettt]

Originally Posted by faz

I imagine any store can set its own policies on the amount of cash they want to handle, or if they want to be bothered by reporting and forms and all the legalities or not.

This part is not so. If a person is paying in legal tender of the given country where it's being spent, it must be accepted.

[Jake B]

Originally Posted by pickettt

The question to ask is, "Why would you?"

Huh?

[WhiskeyKoffee]

True story .. about 12 years or so ago, I dated a girl that worked as a dancer. Her income was all cash, and she made a ton of it. She had no bank account, no credit cards, only safety deposit boxes full of cash. She and I went to a Jaguar dealership where she bought a $35,000 vehicle with cash. The sales manager and three salesman counted it about five times before they finally signed off on the transaction! They were happy to have the cash, but they kept counting it over and over to make sure it was right.

[Jake B]

Originally Posted by justdate

Unfortunately it is the governments very business to know where that money came from and how much of it they can take from you!!!

Well, you know, it might be so in your country that your government and banks need to have their nose in every single aspect of your life right down to every red cent you spend and what brand of undershorts you wear... but that doesn't mean that everywhere is the same.

You know, not every government taxes inheritance, lottery winnings, or even capital gains. Most countries do not collect income tax on the income of their citizens which has been earned abroad while they are residents of other nations and paying income tax where they reside, and most countries do not force foreign banks and governments to report the every action of their citizens who are residents abroad like the USA does with FATCA and the IRS.

It very common in some places to conduct business with cash and many people prefer to enjoy a sense of privacy and feel that it's nobody else's business, especially not the bank's, credit card company's and government's business what watch they wear and how much they paid for it. Paying with cash not only maintains a level of privacy and dignity but it also instills a sense of pride in knowing that you're spending your own hard earned money and not putting yourself in debt while inflating the currency as you do when you use a credit card. I'll also add that in some places cash is in fact preferred (as they say here, "CA$H is KING!"), and paying in cash will get you a discount while a small fee will be added if you want to use a credit card.

[pickettt]

Originally Posted by Jake B

Huh?

Why would you pay with cash? Rather, why do you WANT to pay with cash?

[tng11]

Originally Posted by faz

Here is the IRS requirements:

https://www.irs.gov/businesses/small...-of-over-10000

You can buy any item in cash, as long as the store accepts that amount of cash, for any amount of cash. The only requirement is that the store needs to file a form to report cash purchases of over 10k. This I was told long time ago was to stop money laundering activities.

Now of course if I had a store and someone walked in with a suitcase full of cash, I would not accept it as I wouldn't have the means to walk it to the bank myself and not get robbed. I imagine any store can set its own policies on the amount of cash they want to handle, or if they want to be bothered by reporting and forms and all the legalities or not.

Indeed, it's not illegal to use over $10,000 in cash (or e.g. bring in/out of US borders $10,000 or more). That's a very common misconception. It just has to have the correct paperwork and declaration.

In fact, intentionally skirting the reporting requirements is illegal - it's called "structuring".

[tng11]

Originally Posted by HK Islandboy

No problem...




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I raise you this pile that I took to the AP boutique to buy my 15202 as my no-FX fee credit card didn't have a high enough limit:



It made it over fine... But in retrospect, I would have felt safer escorted by two guys carrying violin cases.

[Jake B]

Originally Posted by pickettt

Why would you pay with cash? Rather, why do you WANT to pay with cash?

You can see my reply above. No disrespect, my friend, but I find the fact that you'd even ask that a little bit sad. It seems that privacy, trust and actual hard earned money are soon to be all but forgotten, only to be replaced with a system of total control, fear, surveillance and debt.

[pickettt]

Originally Posted by Jake B

You can see my reply above. No disrespect, my friend, but I find the fact that you'd even ask that a little bit sad. It seems that privacy, trust and actual hard earned money are soon to be all but forgotten, only to be replaced with a system of total control, fear, surveillance and debt.

I agree with you. That's why I don't think bitcoin will last, governments will never relinquish control of the money supply. Money is their means of control. I just assume this case is not about privacy, otherwise the OP wouldn't be airing what he's got, where he got it, and what he's going to do with it.

[Seanken]

Originally Posted by Jake B

You can see my reply above. No disrespect, my friend, but I find the fact that you'd even ask that a little bit sad. It seems that privacy, trust and actual hard earned money are soon to be all but forgotten, only to be replaced with a system of total control, fear, surveillance and debt.

Oh yeah. Truth. Most of the world's govt' s have so inflated their currencies. Real money will eventually be metals. Nobody can predict when a massive, first world currency collapse will occur. It may not be this year or in twenty years. It will happen. Keep 5 to 10% of liquid net worth in silver or gold and you WILL be the cash king if the event occurs in your lifetime.

Bitcoin and their ilk will go to zero.

[pickettt]

Originally Posted by Jake B

Well, you know, it might be so in your country that your government and banks need to have their nose in every single aspect of your life right down to every red cent you spend and what brand of undershorts you wear... but that doesn't mean that everywhere is the same.

You know, not every government taxes inheritance, lottery winnings, or even capital gains. Most countries do not collect income tax on the income of their citizens which has been earned abroad while they are residents of other nations and paying income tax where they reside, and most countries do not force foreign banks and governments to report the every action of their citizens who are residents abroad like the USA does with FATCA and the IRS.

Check out the currencies and policies of India, Greece, and Cyprus over the last few years. It's my belief that these are beta tests for what they've got planned for the U.S. I don't know the time frame, but I'd position myself appropriately.

[Onikage]

Cash is convenient for smaller transactions and easier to keep track of (Stuff contactless plastic card waving!) but I hate to say it, for large it's a massive pain in the behind for all concerned. Much as I'd like to see the sales person's face when their hair blows as they feel the wind when I empty a carryall on the counter.

[RaymondAZ]

Here in Arizona they are required to report any cash purchase over $5,000 to the State Department of Revenue and anything over $10,000 to the State Department of Revenue and the IRS.

I'm sure that's the case in most states.

But as long as it's legitimate income you shouldn't have anything to worry about.

[HK Islandboy]

Originally Posted by tng11

I raise you this pile that I took to the AP boutique to buy my 15202 as my no-FX fee credit card didn't have a high enough limit:



It made it over fine... But in retrospect, I would have felt safer escorted by two guys carrying violin cases.

Nice!

While it is a very safe city, I do find that my heart rate does pick up a bit when I'm carrying a brick of cash around!

[ericmli825]

In the US, stores have to file report for cash above 10k but it’s just a report so it’s no big deal


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[cm10005]

I took $9100.00 in 100 dollar bills to the AD the other day in hopes of being able to do a cash transaction. I was hoping that they would give me a deal and avoid about $800 in tax. No budging on the $9050.00 sticker price for a Hulk so I just used the credit card. Now gotta go back to the bank with those hundreds

[gwalker]

Ouch. My AD has been out of business for a while but I always got a nice discount even on SS watches. I was very sad to see the store close. I got a SubC for $6800 no tax in 2012 and was offered similar but not quite as good deals on a hulk. Just never pulled the trigger. I know times changed but when I paid $7950 for a DSSD in 08 was another great deal but I did buy many items from them. Now I mostly just use trusted sellers. I’d really try to shop around. An AD in Huntsville had a few Hulks in stock and there might be a discount there.


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[Dumas1012]

My first Daytona 116520 was paid in cash. Either you're too paranoid or your money is dirty. I kid, I kid LOL. Just go there, buy it and enjoy it.

[HogwldFLTR]

Originally Posted by Etschell

Seems impractical to me!!!

[JerseyGMT]

Originally Posted by pickettt

This part is not so. If a person is paying in legal tender of the given country where it's being spent, it must be accepted.

Actually, that is not true in the US. There is no requirement that cash must be accepted. That is why a gas station or convenience store can refuse to accept bills larger than $20, or why they can refuse to take $500 in pennies.

(I have a US Treasury link, but am unable to post it as I have less than 10 posts to my credit.)

[pickettt]

Originally Posted by JerseyGMT

Actually, that is not true in the US. There is no requirement that cash must be accepted. That is why a gas station or convenience store can refuse to accept bills larger than $20, or why they can refuse to take $500 in pennies.

(I have a US Treasury link, but am unable to post it as I have less than 10 posts to my credit.)

Well please post something else, for I'm interested in said link.

[JerseyGMT]

Originally Posted by pickettt

Well please post something else, for I'm interested in said link.

LOL! Good suggestion. Now I'll probably have to wait for a mod to approve.

[cdmorenot]

Originally Posted by pickettt

Well please post something else, for I'm interested in said link.

A little off topic ...but.

When I was in retail sales someone always tried to pull the "you just accept cash it's legal tender crap" I countered with, I reserve the right to refuse service to anyone for any reason. Good bye ..

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[JerseyGMT]

Ok, let's see if this works...

https://www.treasury.gov/resource-ce...al-tender.aspx

[samson66]

Just make sure you walk in like this: