HEARD A RUMOR THAT...

I'm still at a complete loss as to how money laundering depends on selling coins and paper money on eBay.

I mean, sure, if I wanted to launder money I could list it as money on eBay, but isn't that kind of... indiscreet? I mean, instead, you'd list a pair of ratty old sneakers in Athletic Shoes for $9900 (zero listing fee and FVF if the price is over $100), and tell your partner about the $9900 stuffed into them. Your partner can use eBay gift cards, collect eBay Bucks, and so on.

Heck, the next time eBay runs a nice seller promotion, I might have to tuck a double eagle into an old pair of shoes and list it myself. Keep an eye on the For Sale - Auctions forum.

 

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Throw in a pair of socks and you've got a deal!

 

It doesn't at all. You'd have to shut down eBay entirely if that was the fear, then shut down PayPal to make sure other venues can't do the same etc. I seriously doubt they've even looked at it much at all. It'd literally be one of the dumbest ways to launder money given the multiple electronic trails that would be left and you'd have to convert the cash into a bank account or something first to even make payment.

 

That’s not how money laundering works. What you described was moving money. You can do that in an envelope. To launder it the thing you buy needs to produce money (like you buy a car wash if you are Walter White and in a TV show and nobody looks for where the money came from) so if you are buying a biz it better be in small amounts over time or you buy actual money from like a bank, but that is a problem cause of the Feds and it’s still just money for money. You can gamble and then the winnings are clean but you have to win and it’s not a good way for many of the same reasons. You could buy car and sell it but that’s too big an item and you get caught. So you can but little stuff and sell it but what can you buy that is close to money but not really money and is small and pretty liquid? And there you go. It’s not the dumbest way at all.

Here is how it works. You buy the silver from the LCS who takes cash and provides little if any receipt with your illegal drug profits. You sell the coins and if anyone asks you say nothing and your attorney says you collected them or whatnot. Believe me people do this all the time and since it’s hard to buy other stuff that is price stable and easy to sell and small and well all the reasons people like coins. The electric transfers are features not bugs.

Buying works too if you do it in small amounts, but at some point it has to be sold to have clean money.

The big drug dealers use the same methods (but not eBay probably but who knows what they are up to) but add shell corps.

Why would anyone buy a hundred dollar bill for 115+?
https://www.ebay.com/itm/100-CASH-1...832599?hash=item2ae8f27e57:g:760AAOSwl7pem2R0

 

One word - Bitcoin

 

I don’t know enough about Bitcoin to know how to use it to launder money, but I can’t imagine it’s too difficult.

 

I've got a couple dryer dimes.

 

"Heard it from a friend, whoooo . . .
Heard it from a friend, whoooo . . .
Heard it from another that the cent will be gooooooone."

 

Haven't sold for a bit, but pretty sure that deadline is end of this year. They want to switch away from Paypal, and toward ppl using more "diverse" payment options. Like Apple Pay and other phone things that I don't know much about.

 

I see ebay slowly dying.....I haven sold on there in years.
They have made it so hard to do business .,fees, rules, etc...that just isn't worth the trouble.
At one time an ebay power seller I've watch ebay slowly self destroy.
Plus there are other venues that offer the same type of market place without all the BS rules.
Coinzip is one of them....

 

I will be checking that out...got any others by name ? I also know that only stores who either exclusively, or very close to exclusively sell Numismatics will be continuing to do so after end of year because apple doesn't like ppl using their payment system to buy anything coin/currency.

 

they are now allowing us " managed-payout" dealers to sell coins again, after the 25th of january, see below:::
Dear ctmerchandiseliquidators,

Starting January 20, 2021, sellers who have listings in the Coins & Paper Money category will be required to update item specifics in the Year and Denomination fields. If the required item specifics are not updated, the ability to create new listings, or relist or revise current listings, will be interrupted, and listings will not successfully publish.

Year and Denomination item specifics fields are already part of the listing process and are currently “recommended,” but will now be “required” effective January 20. The new item specifics requirements improve searchability for buyers and improve listing organization within the category. Learn more about item specifics.

 

i agree with you 110%, but with coin shows non existant due to this hoax of a pandemic, and flea market is too cold (they are open yr round outdoors, too cold for me old bones, lol) so?? i do ok on their with my closeout merchandise, will be nice to list some coiins...