Bullion Dealer Bham?

[AuricGoldfinger]

Can anyone recommend a bullion dealer i can actually walk into and pay cash in Birmingham? I know atkinsons and bullion by post are based in the jewellery quarter but im only aware of their online presence and not aware of an actual shop. Also do you need ID or is there an amount you can pay cash upto without ID?

[mr-dead]

You should only need i.d if spending over £5k.

You can walk into Atkinson's although you may have to give them some notice of what you want to buy so they have it on hand.

Atkinson's shop is in Sutton Coldfield, I was staying in a hotel just up the road when I was working there and called in to sell some gold.

[Tingles]

I think it’s £5k - agreed.

Its on Atkinson’s website for full details.

Ive only purchased from them and got deliveries so didn’t have to deal with KYC / AML regs.

also well under £5k

 

[AuricGoldfinger]

Is that the Atkinson Jewellery store and they will just get stuff in?

Does the same apply if it litterally CASH though and not a card? These days hard to spend actual cash on anything without having to give a dna and dental records!

 

[Tingles]

1 minute ago, AuricGoldfinger said:

Is that the Atkinson Jewellery store and they will just get stuff in?

Does the same apply if it litterally CASH though and not a card? These days hard to spend actual cash on anything without having to give a dna and dental records!

 

My understanding is... you can ring up Atkinson’s order and you can pick up at their shop.  They will advise you directly.  Regulations change AND if it’s anything like banks they can ask for proof of ID if they think things aren’t on the up and up!

yes, it’s a long since you can just turn up with £50k and no one cares!!

[Tingles]

Regulatory Requirements

Why do I need to give my ID?
We may require your ID due to two sets of regulations which govern our industry for retail clients. They are Money Laundering Regulations and the HMRC 'Gold Rules' for investing in Gold. They require for orders over £5,000 or for a total spend over £10,000 in one year (irrespective of payment method). It may be necessary on occasion to have a copy of your photographic ID and a recent Utility bill 'Certified' before sending to us.

What does Certified mean?
This means the copy has to be signed by a person of responsibility who has seen your original ID and utility bill and can certify that it is a true likeness of the original seen. This can be done normally at your bank branch or at the local Post Office. The Post Office may make a small charge but you can also ask a professional colleague, doctor, solicitor, accountant etc.

What happens to this information?
We are obliged under the regulations to gather this information to prove who you are. We do not send or give this information to anyone. We simply gather and keep the information on file. Our only obligation is to report suspicious transactions of possible money laundering.

[Tingles]

Atkinson’s, apologies they say it has to be via bank transfer.  So, anonymous transaction are out.

[AuricGoldfinger]

Ok thanks guys - so rocking up with paper money is a no then? It would only be for around a 2k purchase. Is Atkinsons the only place you can walk in in brum?

[caloundracats]

I'd give Atkinson's a ring. They are very helpful. Normal process is to order at least 24 hours in advance to allow them to ship the goods to their jeweller's shop in Sutton Coldfield. Check out the location on Google maps.

You can discuss payment with them on the phone. 

Likewise, I would phone Bullion by Post and ask them too. They also do not hold stock at their location in Hill Street I think it is, but ship it in when people want to collect it in person.

[sixgun]

These people have a counter -

https://www.bullionstore.co.uk/buy/

You can visit our bullion counter which is based in the heart of Birmingham's Jewellery Quarter. Customers are welcome to visit us, we are open Monday to Friday 9am to 6pm and on Saturday 10am to 4pm, excluding Bank Holidays and National Holidays. We would advise customers to ensure you check availability of stock prior to making your journey to us. We must receive all funds prior to collection of goods.

The Bullion Store Limited
43 Frederick Road,
Birmingham B1 3HN

Please note there will be a 2% surcharge on all cash payments over £3000.00, Photographic ID will also be required for all cash purchases of £5000.00 and over. 

[Tingles]

Bullion Store...

Please Note we are required to take identification and proof of funds when orders exceed £5000.00. This is also applicable when multiple orders exceed this amount in a 12 month period.

 

SO... If they don't take ID up to £5k for a single transaction - how will they know or report if I buy £30k in a year?

I could walk in and buy £2.5k per month every month.

Seems like one of those governmental processes that no one has actually walked through...

[Xander]

2% surcharge on cash payments over £3K, I would be looking for a discount for cash.

[morezone]

1 hour ago, Tingles said:

Bullion Store...

Please Note we are required to take identification and proof of funds when orders exceed £5000.00. This is also applicable when multiple orders exceed this amount in a 12 month period.

 

SO... If they don't take ID up to £5k for a single transaction - how will they know or report if I buy £30k in a year?

I could walk in and buy £2.5k per month every month.

Seems like one of those governmental processes that no one has actually walked through...

On your 3rd purchase you would be required to produce ID.

 

36 minutes ago, Xander said:

2% surcharge on cash payments over £3K, I would be looking for a discount for cash.

For bullion dealers the preferred payment used to be debit card which cost them pence to process or cash.   These days with the changes in fees for card payments then credit card is now a good option.  Banking cash costs money and is less secure.  In the old days when my business was primarily cash, my bank used to charge 0.5% for paying in cash.  Businesses will have to bank the cash so either a staff member would have to go to the bank with thousands in a bag (risk is involved) or use a security company to pickup the cash at an extra cost.  These days it really doesn't make sense to take cash when card payments costs are just as cheap and more convenient and secure.

 

 

[Tingles]

17 minutes ago, morezone said:

On your 3rd purchase you would be required to produce ID.

 

For bullion dealers the preferred payment used to be debit card which cost them pence to process or cash.   These days with the changes in fees for card payments then credit card is now a good option.  Banking cash costs money and is less secure.  In the old days when my business was primarily cash, my bank used to charge 0.5% for paying in cash.  Businesses will have to bank the cash so either a staff member would have to go to the bank with thousands in a bag (risk is involved) or use a security company to pickup the cash at an extra cost.  These days it really doesn't make sense to take cash when card payments costs are just as cheap and more convenient and secure.

 

 

How would they know it’s your 3rd or 30th visit?

[sixgun]

1 hour ago, Tingles said:

How would they know it’s your 3rd or 30th visit?

Grow a beard, shave it off, grow it back...... have a pair of glasses, don't have glasses.. what fun it could be. Unless you provide ID and this is recorded there is no way the shop can prove how many times you have been or more importantly the shop can be proved not to be applying the tribute extortion of the pirates.

[Tingles]

7 minutes ago, sixgun said:

Grow a beard, shave it off, grow it back...... have and pair of glasses, don't have glasses.. what fun it could be. Unless you provide ID and this is recorded there is no way the shop can prove how many times you have been or more importantly the shop can be proved not be applying the tribute extortion of the pirates.

More likely Danegeld.

 

[KDave]

If they want repeat custom they won't ask for ID.

[Pete]

Why not walk into your nearest Metro bank and open an account in 15 minutes, get handed over a debit card which they produce on site and use this card to buy your gold ? All future transaction smooth as a baby's bottom. The big obstacle nowadays with all major financial transactions are the rigorous rules on money laundering and being able to produce on demand a paper trail of where you obtained this money, have you paid your council tax, do you fill in a tax return, have you paid your TV licence etc etc//.
I think the only place that is more forgiving and handles large sums of cash is Las Vegas.

[morezone]

1 hour ago, Tingles said:

How would they know it’s your 3rd or 30th visit?

They would take down your details for the invoice.  I’d imagine they’d have a decent computer system where all your details and orders are all linked.

Obviously that’s dependant on you giving genuine details each time.

[Tingles]

27 minutes ago, Pete said:

Why not walk into your nearest Metro bank and open an account in 15 minutes, get handed over a debit card which they produce on site and use this card to buy your gold ? All future transaction smooth as a baby's bottom. The big obstacle nowadays with all major financial transactions are the rigorous rules on money laundering and being able to produce on demand a paper trail of where you obtained this money, have you paid your council tax, do you fill in a tax return, have you paid your TV licence etc etc//.
I think the only place that is more forgiving and handles large sums of cash is Las Vegas.

He doesn’t want a trail or anyone knowing his business.  

[Tingles]

1 minute ago, morezone said:

They would take down your details for the invoice.  I’d imagine they’d have a decent computer system where all your details and orders are all linked.

Understood but if he doesn’t have to produce an ID he can say any name, any address.

[morezone]

2 minutes ago, Tingles said:

Understood but if he doesn’t have to produce an ID he can say any name, any address.

You could do.  Do it often enough and I'd imagine one would be recognised if there's a limited number of staff serving.  If caught they could inform the authorities (obligated to?) of suspicious activity but luckily the details given with all previous purchases would have been false.

[Pete]

1 minute ago, Tingles said:

Understood but if he doesn’t have to produce an ID he can say any name, any address.

Not forgetting CCTV at the counter

[Groundup]

Bullion by post do a walk in with cash at the counter. AML laws apply. As recently as 1st July 2018 they withdraw there pay cash at the Barclays service, or should I say Barclays withdrew that service from bullion by post.

 

[Tingles]

Just now, Pete said:

Not forgetting CCTV at the counter

True.  I wonder if they’d bother for such a small amount of money?