Face to face, your largest cash amount exchanging hands?

[Guest ph4tb0i]

Awesome.  If it was me I would 'foolishly' try to make $200 more than get to that $10,000 mark...but I guess that's the limit before the casino has to issue you a tax form I believe.  I know as Canadians gambling in US, if you get lucky with that big of score...probably smart to collect $9999.99 hehe.  Which game was this big score from if you don't mind me asking?  I bet $500 bucks on a single hand of bj once (from winnings) but I didn't win   Fun reaction seeing the pit bosses come over thinking I was a high roller haha.   

 

Nice scores indeed.

 

I thought winnings in Canada aren't taxable? I.e. multi millionaire lottery winners don't need to pay tax compared to the states with their ridiculous jackpots that get taxed to death. 

[weakside]

I thought winnings in Canada aren't taxable? I.e. multi millionaire lottery winners don't need to pay tax compared to the states with their ridiculous jackpots that get taxed to death. 

Yes, if you win money at lottery/casino in CAN (domestic) it's fine no matter the amount...but if you win abroad like in the US, Canada wants some of that money.  It's kinda a good dilemma to have actually winning 'big' and paying extra taxes.  Of course no or less tax would be better.  I think if you win big in the a US/international casino it's best to 'break up' the winning if you can but I think the casino has rule/policy they must give you a form...going through customs at Pearson with $10k+ cash is asking for questions or you just pay the appropriate taxes.     

[Sauromosis]

I sold my complete nintendo power magazine lot issue 1st to the last.  Only one ever sold complete on ebay for 850 or so.

 

That hurts...I had them and my mom's cat "excused herself" on them while I was at college.  I remember the claymation cover on one of them.  Those were the days, holding paper-based maps to help solve a game.

 

I guess my biggest is a used car for 1600 a few years back.  I hate taking a test drive with a total stranger.

[Coneil21]

Awesome.  If it was me I would 'foolishly' try to make $200 more than get to that $10,000 mark...but I guess that's the limit before the casino has to issue you a tax form I believe.  I know as Canadians gambling in US, if you get lucky with that big of score...probably smart to collect $9999.99 hehe.  Which game was this big score from if you don't mind me asking?  I bet $500 bucks on a single hand of bj once (from winnings) but I didn't win   Fun reaction seeing the pit bosses come over thinking I was a high roller haha.

Aha! Thats the exact reason I remember the amount. At the time I wasn't aware of the 10k tax, so I just got lucky that thats when I stopped. But everyone then assumed I stopped at $9800 on purpose. And the game I was playing was blackjack. I was trying my hand at a little amateur card counting and I guess I got lucky. Its a great system when it works!

[LegoFink]

I shelled out $6700 for about 150 carded vintage star wars figures earlier this year.  I've sold all but about 15 of them and will come close to doubling that before fees of course.  I was a little worried about recouping it even though all my research told me it was a good deal.  Still, research doesn't pay the bills :-).

[weakside]

I shelled out $6700 for about 150 carded vintage star wars figures earlier this year.  I've sold all but about 15 of them and will come close to doubling that before fees of course.  I was a little worried about recouping it even though all my research told me it was a good deal.  Still, research doesn't pay the bills :-).

Research, stats and projections are one thing...but when you paid hard cash (especially that amount) for something there's might be some 'buyers remorse' thinking if you can really re-sell it for profit.  Nice job on recouping the investment and than some. 

 

Aha! Thats the exact reason I remember the amount. At the time I wasn't aware of the 10k tax, so I just got lucky that thats when I stopped. But everyone then assumed I stopped at $9800 on purpose. And the game I was playing was blackjack. I was trying my hand at a little amateur card counting and I guess I got lucky. Its a great system when it works!

If you're on a good roll, bj is the game to play if you stick with a system.  Must of been nice to upgrading those colour chips and walk to the gate  

[Hansolo55]

I shelled out $6700 for about 150 carded vintage star wars figures earlier this year.  I've sold all but about 15 of them and will come close to doubling that before fees of course.  I was a little worried about recouping it even though all my research told me it was a good deal.  Still, research doesn't pay the bills :-).

I had a similar situation where I purchased from a guy on Kijiji EVERY STAR WARS LEGO SET EVER MADE up to 2009 (excluding 10179) for $4500.  Every set was said to be used but in Mint condition 100% complete with all figures and instructions.  I had to take his word as all lego was loose in large tubs to be sorted manually.  there were 4 large storage tubs that filled the back of my SUV plus 2 boxes with all the instructions.  The figures were all mixed inside the loose lego as well!  Handing over $4500 was tough, and it took me 6 months to sort and build all the sets, about 150 hours by my count.  But it paid off, and I netted about $7K on the deal selling the sets on ebay.  Had to sell some killer sets like cloud City and UCS Star Destroyer etc.  I only kept a few of them for my collection like the UCS Snowspeeder, UCS Death Star II, sandcrawler and a few others.  In retrospect i wish I had kept more of the UCS stuff.  But this score bankrolled my current lego investing.

[El Guapo]

I sold a car for $30,000 and the guy wanted to pay cash. 

 

Just a tip...when dealing with large amounts of cash ALWAYS meet the person at a bank.  Get a money order if possilbe, OR make them meet you at your bank so you can deposit it right then and there.

 

My concern with this amount of money is that the other party follows you (or has someone else follow you) and steals it back.  May not happen alot, but if it happens once to you it's too many times.  Any cash transaction over $500 I would do at a bank...have them buy a money order (with you there, as these can be faked too) or have him meet you at your bank and buy one yourself. 

 

Cash and strangers is not a good combination...and usually you are meeting in a public place anyways, so choose your bank.  Just my 2 cents.

[El Guapo]

Yes, if you win money at lottery/casino in CAN (domestic) it's fine no matter the amount...but if you win abroad like in the US, Canada wants some of that money.  It's kinda a good dilemma to have actually winning 'big' and paying extra taxes.  Of course no or less tax would be better.  I think if you win big in the a US/international casino it's best to 'break up' the winning if you can but I think the casino has rule/policy they must give you a form...going through customs at Pearson with $10k+ cash is asking for questions or you just pay the appropriate taxes.     

Ha ha..you should buy something with that 10k.  I have some ideas...   Of course you'll still probably have to pay GST on the 85 Helm's Deeps in your trunk right?

[kerrmando]

Bought a BMW for my mom once with cash off of Craigslist... 33k.. That was a scary amount to have in Cash. Guy wouldn't even take a Cashiers check. Needless to say I had two cop friends in the parking lot hah. 

[El Guapo]

Bought a BMW for my mom once with cash off of Craigslist... 33k.. That was a scary amount to have in Cash. Guy wouldn't even take a Cashiers check. Needless to say I had two cop friends in the parking lot hah. 

Sounds like my story...except I was selling an M3..electric blue!

 

I was in CA so doubt it was you...and I would have liked a cashiers check...though those are being forged now too, so would have made you buy it with me there and hand it straight over.    But yeah...there is definitely something unsettling about having that amount of cash on you.  You feel like you have a bullseye on you and everyone knows it. 

[weakside]

geez, carrying $30k in bills would be 'unsettling' unless you're use to this kind of thing.  Some people are the opposite and think $100 is too much for a wallet. 

 

Good tip on meeting at the bank and quick deposit if the sum is really high.  No more meeting at 1am outside a closed coffee shop in a plaza for me  

[LegoFink]

I had a similar situation where I purchased from a guy on Kijiji EVERY STAR WARS LEGO SET EVER MADE up to 2009 (excluding 10179) for $4500.  Every set was said to be used but in Mint condition 100% complete with all figures and instructions.  I had to take his word as all lego was loose in large tubs to be sorted manually.  there were 4 large storage tubs that filled the back of my SUV plus 2 boxes with all the instructions.  The figures were all mixed inside the loose lego as well!  Handing over $4500 was tough, and it took me 6 months to sort and build all the sets, about 150 hours by my count.  But it paid off, and I netted about $7K on the deal selling the sets on ebay.  Had to sell some killer sets like cloud City and UCS Star Destroyer etc.  I only kept a few of them for my collection like the UCS Snowspeeder, UCS Death Star II, sandcrawler and a few others.  In retrospect i wish I had kept more of the UCS stuff.  But this score bankrolled my current lego investing.

That's pretty awesome and time consuming I know.  I bet you thought you would never get to a point to start building them.  I bought a large Star Wars Lego lot a couple of years ago from an adult collector, but they were all built and all the minifigures were together on a huge plate.  All I had to do was match up the minifigures, instructions, and boxes and make sure everything was there and that still took a good week to do that.  There were about 60 sets in all ranging from large to battle packs but only a few retired ones.  I've learned about the only real way to make decent money is buy in bulk for the lowest price possible and sell everything individually.  It was so tempting to start combining sets, but I wanted to make the most I could off of it :-).

[Coneil21]

Bought a BMW for my mom once with cash off of Craigslist... 33k.. That was a scary amount to have in Cash. Guy wouldn't even take a Cashiers check. Needless to say I had two cop friends in the parking lot hah.

My son made me a macaroni picture frame

[weakside]

My son made me a macaroni picture frame

[Hansolo55]

That's pretty awesome and time consuming I know.  I bet you thought you would never get to a point to start building them.  I bought a large Star Wars Lego lot a couple of years ago from an adult collector, but they were all built and all the minifigures were together on a huge plate.  All I had to do was match up the minifigures, instructions, and boxes and make sure everything was there and that still took a good week to do that.  There were about 60 sets in all ranging from large to battle packs but only a few retired ones.  I've learned about the only real way to make decent money is buy in bulk for the lowest price possible and sell everything individually.  It was so tempting to start combining sets, but I wanted to make the most I could off of it :-).

Ya it was pretty intense!  lol  And everything was there as promised which made for a great score.  it was interesting sorting the pieces, but mostly just a nightmare.  Separating old/new grey and dark grey was frustrating at times, especially on the 1x1 pieces as its hard to tell which is which!  The sorting was a long process,  but what a great experience building all those older UCS sets once all the sorting was done!  The profit was almost like a bonus lol

 

I did combine some of the smaller sets at times for sale.

[TheOrcKing]

how many issues were there?

The last issue of Nintendo Power was #285 for December 2012.

[El Guapo]

geez, carrying $30k in bills would be 'unsettling' unless you're use to this kind of thing.  Some people are the opposite and think $100 is too much for a wallet. 

 

Good tip on meeting at the bank and quick deposit if the sum is really high.  No more meeting at 1am outside a closed coffee shop in a plaza for me

Yeah...sometimes I feel like I am in the opening scene for an episode of Law and Order.