Yeah, if I found like a hundred thousand in cash, it wouldn’t get into a bank account, I’d just be buying groceries and retail purchases in cash for a long time, and saving the money I would have spent normally. Maybe asking places to make change so if the serial numbers get noted, things get spread about a bit.
contract work is 100% the ideal place to spend suspicious cash, it usually costs a ton but the work is done by tiny companies or straight up a single individual. They might not even feel a need to keep note of what work was done…
I’d keep working my day job and melt them into basic jewelry like rings and crosses and pawn them over time. Say I’m getting them at estate sales or something. Use the cash for day to day purchases, buy used cars, etc. Could probably start flipping other stuff to generate more income/muddy the waters in case anyone does look further into it. Gradually work lesser amounts of cash into my bank account. Wouldn’t need to buy anything crazy because I have simple tastes.
A single bar? Chip off a 50g piece, re-melt it, sell it to a jeweler or cash-for-gold place. Rinse & repeat with enough time inbetween and never in the same location twice, and always for cash.
Multiple bars will either require a multi year plan or more… professional means.
Time legitimizes things too. Leave some to your grandkids in the will. Tell them to wait at least a decade before cashing anything in and then to not do it all at once. A decade or two and they’ll try to sell it, show the will as proof they own the gold. Where did grandpa himself get it from? Who the fuck knows, not like he gave us documents and it’s been too long to ask anyone who might know.
Unless the tax authority directly investigates then, they should be good.
Same, but probably difficult to turn $10M in gold into spending money without someone noticing.
Yeah, if I found like a hundred thousand in cash, it wouldn’t get into a bank account, I’d just be buying groceries and retail purchases in cash for a long time, and saving the money I would have spent normally. Maybe asking places to make change so if the serial numbers get noted, things get spread about a bit.
In the U.S., that would get you enough food for weeks!
Seriously. Loaded up on groceries this weekend, and total cost for 1.75 carts was well over $600
What the actual fuck is going on over there. My condolences
Just some minor societal collapse. Don’t worry, we’ll totally get better…
Don’t forget any home improvement tasks. Need your yard leveled? Landscapers would love to give a slight cash discount.
Tree needs taking down? Cash.
Tuckpointing a chimney? Cash.
Annoyingly, you can’t actually use “cash” cash for a cash down payment on a house. Mortgage lenders like to know where the money is coming from.
contract work is 100% the ideal place to spend suspicious cash, it usually costs a ton but the work is done by tiny companies or straight up a single individual. They might not even feel a need to keep note of what work was done…
I’d keep working my day job and melt them into basic jewelry like rings and crosses and pawn them over time. Say I’m getting them at estate sales or something. Use the cash for day to day purchases, buy used cars, etc. Could probably start flipping other stuff to generate more income/muddy the waters in case anyone does look further into it. Gradually work lesser amounts of cash into my bank account. Wouldn’t need to buy anything crazy because I have simple tastes.
He could get it fenced for about 30-50% of its market value.
That’s why you bury it in the backyard and only use little bits at a time.
But then you risk some kid digging it up and turning it in to the authorities.
The cycle continues
10M spend bit by bit takes more than a life time
Should be plenty then.
Definately. More than one needs for survival :D
How would you even go about turning a huge bar of gold into cash anyways?
A single bar? Chip off a 50g piece, re-melt it, sell it to a jeweler or cash-for-gold place. Rinse & repeat with enough time inbetween and never in the same location twice, and always for cash.
Multiple bars will either require a multi year plan or more… professional means.
I think it’s a case of ‘who you know’ in that line of work.
Exactly, even if he kept 1 bar any place he could legally exchange it will have to give the appropriate tax documents since its such a high amount
I thought gold was soft enough to be easily cut by a lot of other more common metals
True, but you would have to do it so slowly to avoid detection. Small pieces over years maybe decades to avoid detection
Still comes out to a lifechanging amount of money for most people, I would think. Maybe some bars left over for your descendants
Time legitimizes things too. Leave some to your grandkids in the will. Tell them to wait at least a decade before cashing anything in and then to not do it all at once. A decade or two and they’ll try to sell it, show the will as proof they own the gold. Where did grandpa himself get it from? Who the fuck knows, not like he gave us documents and it’s been too long to ask anyone who might know.
Unless the tax authority directly investigates then, they should be good.