Will dealers pay cash?

I am wanting to sell this specific coin, although the value is up near the 15,000 mark. Do you think any coin dealer will give me cold hard cash instead of a check? Has anyone heard of dealers that pay out in large sums?

 

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A dealer is going to have to have some sort of record for the sale.
For tax purposes when they sell your coin they have to prove how much they paid for it.

 

Most that I've seen will go to the bank and get a cashiers check for anything over 10K. You sure have me curious as to what this coin is that it's worth 15K.
Guy~

 

Yeah. Over 10K it will probably be hard to get cash. I have seen prices lowered to $9,999 just for that reason.

 

Two words for you.

Form 8300

Look it up. Any form of cash payment above $10,000 form 8300 must be filled out. It is also illegal to coach somebody on how to get around it. IE You cannot tell somebody to get a cashier check for 9000 and then pay the other 6000 in cash. That is a bad example because the person taking the funds would still have to file an 8300, but you get the picture, I hope.

 

What coin r u selling?

 

No legitimate dealer would give you $15,000 in cash without filling out the necessary government paperwork.

 

Please post a photo of the coin

Please post a photo of the coin.

If you want cash, then I believe that the dealer may write you a check & then cash it for you. There are filing requirements.

I have no personal experience selling a coin for more than 10k.

 

......was i looking at a typo?

 

Can I ask a silly question?

Why do you want cash?

 

Why is everyone assuming the OP is trying to avoid legal paper work? Can't you still do things legally and get cash?

Now for my answer, most dealers don't keep that much cash on them and would normally prefer to write a check. If they have funds for a check that means they probably have the funds available to get the cash if that's what you prefer. If the coin is something special I would assume they would find a way to get it.

 

Absolutely!! I agree with the above. With that said, you may have a better chance of getting cash through a private party other than a coin dealer. Most coin dealers who have store fronts, at least in my area are very law abiding ppl and may want to keep a paper trail of all their transactions.

 

The coin is a 1893-s AU 50 certified PCGS. Sorry I dont have any pics, no camera.

 

Gold, Silver, Copper/Bronze?

 

I saw a man sell a stack 500 dollar bils (not sure how many) but the man paid him ih Hundreds and there were alot of them

 

I'm guessing it's a Morgan NumisMedia price for an AU50 is around $19,000.

 

Gang, it happens all the time. I could not begin to tell you how many times I have watched transactions take place with ALOT more cash involved than 15k. Ever see somebody pay cash for 100 Krugerrands? Or walk into a show and watch a dealer purchase complete sets of Morgans for cash? Look around but try not to stare, it makes dealers nervous and most dealers and good majority of collectors carry more than money with them.

 

As soon as I saw this answer, I realized that is what I'd say so I just copied it here.
Of course there are those dealers that would want to keep things under the table, but then too, I'd worry about the source of the cash too.
However, completely contrary to this is the massive amount of all kinds of sales being done every day with little to know paper work. Around me guns are sold every day with not a piece of paper work.

 

you still did not say what coin it is you have. Or are you just pulling our 3rd leg of the buffalo?

 

The only coin that would match that price is the 1893 S Morgan, so I'm guessing he is referring to that.