What happens when you do lots of high volume searching?

[db23]

The eventual result of dumping 30+ boxes a week...

 

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[jack584]

Maybe I should think twice before doing over $10,000 in dimes a week.

 

[TimZim]

Did you do over $10.000 at a time

 

[SilverForBrains]

yep they think you're structuring, meaning they assume you're breaking up what would be large (over 10k) income deposits to avoid paying taxes. Fortunately what you're doing is legal, stand your ground and explain your situation. others on this forum have been sent these letters.

 

[kontrapunktus1750]

I've started keeping a paper trail for my coin orders by writing a check to myself drawn on my dump bank. In the memo line, I write, "For Half Dollar Order from (name of bank)."

The rejects are eventually deposited back into the account that the check was drawn on.

 

[baddbluff]

I would call the guy and be straight with him. SilverForBrains is right - it is legal what we do. You may end up having to report your silver finds as income (don't know the law on that), but you are better off being honest and upfront with him. Keep us all posted on how this all plays out - I think we all would like to know.

HH
BB

 

[Piledriver]

db !

Should of known you were doing some super-searching the whole time you were gone.

Long time, no see !

Keep on Rollin' !

 

[Gilmore Happy]

Cool, first thing you do is make a copy of this letter. What an accomplishment to know you have shown up on the governments radar and used tax dollars to fund the investigation, the letter, and any other man-hours that might have gone into this. Lastly, laminate the letter that you copied, put it on your fridge, and put a gold star on it. Well done sir. Oh, and sign it, send it, along with a typed letter with your explanation.

 

[BuffaloBoy]

at least it is prepaid to send back!

really, that's a tough one, thanks for sharing, i've heard people talk about this, but never saw somebody post a scan/picture of it for us to read. I hope I don't get one of those!
HH,
Buff

 

[Dok Holliday]

Yup, I'd get that framed and hang it in my office to cover up the safe I have full of cocaine.

 

[Diver_Down]

Remember the government mandated threshold is 10k, but other institutions might have lower thresholds dictated by corporate policy. BoA will trigger a SAR for amounts in excess of $8500.

Sure you aren't doing anything illegal, but no one wants to be on the governments radar. Stay safe and follow the rules.

 

[kontrapunktus1750]

CWhat an accomplishment to know you have shown up on the governments radar and used tax dollars to fund the investigation, the letter, and any other man-hours that might have gone into this.

They have better things to do.

 

[namster]

db were you depositing or exchanging coin for cash?

 

[Bigheed]

Hope it is resolved with no issues DB23, get that puppy framed, make a custom frame with a bunch of halves like that toilet seat they had linked on coinflation a while back that was like a clear resin seat full of all denominations of coins haha.

 

[red89]

Must be nice to CRH if you are swiss....no questions asked no matter how much you deposit or withdraw.

 

[gmrestoparts]

I do $4000 in halves every week. One day at my dump bank they gave me sequential $100 bills that were in the F 12345538 G range. Well, I took up about an hour of their time buying and selling back $100 bills trying to get serial number F 12345678 G. When we got to that point, we found that the sequential serial number bill I was looking for was not there...had already been hand picked out of the hundreds. long story short, they did the transactions wrong and had to do up one of those forms making it look like I had deposited about $14000 in cash in one day. I am still waiting for the Black SUVs to pull up.