(Topic ID: 306191)

So games are now $10K - $20K, are people still paying with cash?

By kevmad

2 years ago


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  • 166 posts
  • 82 Pinsiders participating
  • Latest reply 1 year ago by dboeren
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    There are 166 posts in this topic. You are on page 1 of 4.
    #1 2 years ago

    Are people now going around with $10K - $20K in their pockets going to buy games? It would seem kind of weird walking into my bank asking to withdraw $20K in cash???? At what point does it become impractical to pay with cash?

    #2 2 years ago
    Quoted from kevmad:

    Are people now going around with $10K - $20K in their pockets going to buy games? It would seem kind of weird walking into my bank asking to withdraw $20K in cash???? At what point does it become impractical to pay with cash?

    Bank wires are fine. Just have to make sure it clears before the game exchanges hands. They usually clear same day if done during the week.

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    #3 2 years ago

    I'm still cash on glass. Paypal is not seller friendly and there are just too many scammers running around to trust checks or deposits

    #4 2 years ago

    Pretty much, yep. The last game I bought was $9k (almost 2 years ago mind you) and that was 100% cash.

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    #5 2 years ago

    Cash is KING......

    #6 2 years ago

    Yup, paying with cash. I will say there is more of a pucker factor walking into a situation with 10k in cash these days. But I've spoken with the sellers enough, through here, to feel comfortable showing up to their house. Well, as comfortable as I can.

    #7 2 years ago
    Quoted from dzmechanical:

    Cash is KING......

    I worked at MasterCard headquarters for many years as a freelance person. One day I walk up and a huge banner greeted me. "War on Cash"
    Soon after I bought a bagel and coffee at the commissary. I handed the cashier a 20. No go. I got my breakfast for free that day.

    #8 2 years ago

    Straight cash homie.

    17
    #9 2 years ago
    Quoted from kevmad:

    It would seem kind of weird walking into my bank asking to withdraw $20K in cash????

    When I walk in asking for cash they just look at me and say "new pinball machine?"

    12
    #10 2 years ago
    Quoted from kevmad:

    At what point does it become impractical to pay with cash?

    Precisely! With prices these days that's why I now pay with gold doubloons.

    #11 2 years ago
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    #12 2 years ago

    So glad I'm not buying games that expensive.

    #13 2 years ago
    Quoted from Seamlesswall:

    I worked at MasterCard headquarters for many years as a freelance person. One day I walk up and a huge banner greeted me. "War on Cash"
    Soon after I bought a bagel and coffee at the commissary. I handed the cashier a 20. No go. I got my breakfast for free that day.

    Just before the pandemic our cc processor offered us $10k to go card only. I asked if anyone else was stupid enough to fall for it.

    #14 2 years ago

    Although I never sell games in that price range, I've had buyers reluctant to carry $1500 in cash. Had others that 4K wasn't an issue. Either you bring cash or game isn't leaving.

    #15 2 years ago

    Unfortunately no layaway program in pinball.

    #16 2 years ago

    Cash. Most I ever carried to a pinball purchase was 13k when I bought Lord of the Rings and Twilight Zone together.

    But my bank is funny, if I ask for more than 12k they want me to sign a document that if I get mugged once I leave the bank that it’s not their problem.

    #17 2 years ago
    Quoted from EricHadley:

    Cash. Most I ever carried to a pinball purchase was 13k when I bought Lord of the Rings and Twilight Zone together. Ah, the golden years.
    But my bank is funny, if I ask for more than 12k then want me to sign a document that if I get mugged once I leave the bank that it’s not their problem.

    If you refuse to sign do they refuse to give you the cash?

    #18 2 years ago
    Quoted from ImNotNorm:

    If you refuse to sign do they refuse to give you the cash?

    Good question! It is my money. I should be able to get it regardless. Hmmmmmmmmm
    I’ll refuse next time and see what happens

    #19 2 years ago

    Picked this up with cash recently, in person, from an estate sale..

    Tipped off by a friend that it was for sale. Dang what a stack of bills, over 200 benjamins.

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    #20 2 years ago
    Quoted from jake35:

    Picked this up with cash recently, in person, from an estate sale..
    Tipped off by a friend that it was for sale. Dang what a stack of bills, over 200 benjamins.
    [quoted image]

    $20K at an estate sale?

    Ug...

    #21 2 years ago
    Quoted from Jazman:

    $20K at an estate sale?
    Ug...

    Over 20 machines were already sold the week before. I bought one of the last ones left. It was posted on Facebook marketplace. This was earlier this spring before the prices went even higher, but still was a decent deal. They had no keys and I took a chance it even worked since there was no balls in it.

    #22 2 years ago

    Everything I’ve sold over $10k has been a wire transfer.

    #23 2 years ago

    Wire transfer seems to work well forvshipped games, not sure how it works for games picked up .. I guess you just wait for it to clear and hope the seller doesn’t run .. same as getting it shipped I suppose.

    #24 2 years ago
    Quoted from Mbecker:

    Wire transfer seems to work well forvshipped games, not sure how it works for games picked up .. I guess you just wait for it to clear and hope the seller doesn’t run .. same as getting it shipped I suppose.

    Just did it for a game picked up from my home. I had the funds before they got here and the transfer was initiated the day before they arrived. It actually cleared the same day it was initiated.

    #25 2 years ago

    Cash if picked up in person.

    Wire Transfer if shipping.

    #26 2 years ago

    In Sweden we have Swish, immediate digital transfer between bank accounts, non-reversible so zero risk as long as you see the money arrived in your account. Very convenient, used it for buying pins, cars and other expensive things.

    21
    #27 2 years ago
    Quoted from jake35:

    but still was a decent deal. They had no keys and I took a chance it even worked since there was no balls in it.

    20K and you got a decent deal. No keys. Maybe it works, maybe not since there's no balls in it. I don't know why I even read this forum anymore. If anyone wants to know the problem with current pin prices here is a prime example.

    #28 2 years ago
    Quoted from chuckwurt:

    Just did it for a game picked up from my home. I had the funds before they got here and the transfer was initiated the day before they arrived. It actually cleared the same day it was initiated.

    ** Sadly waves goodbye to the best playing STH on the planet...

    #29 2 years ago

    Took $7k out of the bank today for pinball deals and the bank just wanted to know if I was under duress and was I aware that scammers were prevalent. Maybe feeling the need to show some due diligence. Still cash deals for me outside of the regular circle.

    #30 2 years ago

    I pay up to 25k cash , cash is king.

    Funny stuff…. Teeth on the curb

    #31 2 years ago
    Quoted from metallik:

    ** Sadly waves goodbye to the best playing STH on the planet...

    This game plays flawless, have played it in New location.

    #32 2 years ago
    Quoted from Jumpydoctor:

    Took $7k out of the bank today for pinball deals and the bank just wanted to know if I was under duress and was I aware that scammers were prevalent.

    this is a good thing !

    #33 2 years ago
    Quoted from chad:

    This game plays flawless, have played it in New location.

    Yay! Glad it got there safe and it’s playing well. It was a pleasure meeting Rillo and Neo.

    #34 2 years ago
    Quoted from Photogmkr:

    When I walk in asking for cash they just look at me and say "new pinball machine?"

    Why would you even tell them? None of the banks business why you need to withdraw your own funds. Just tell them you want to burn a pile of cash for fun.

    #35 2 years ago

    Cash is still king, just show up like this.

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    #36 2 years ago

    Cash, cash cash!!!

    #37 2 years ago
    Quoted from jgreene:

    Why would you even tell them? None of the banks business why you need to withdraw your own funds. Just tell them you want to burn a pile of cash for fun.

    Destroying money is actually illegal. Tell em that and you might not actually get it ha ha

    #38 2 years ago

    I was told by my bank that any cash transaction that exceeds $10,000 in a single day is reported to the feds. Part of an anti-organized crime law. Doesn’t mean anything is wrong with it, but it puts you on the radar. They said if you don’t want that to happen just take out smaller amounts over multiple days before you know a big purchase is needed.

    I use a local bank, so if I go in and ask for large sums of cash they ask if I’m buying a pinball machine.

    #39 2 years ago
    Quoted from ktuhde:

    I was told by my bank that any cash transaction that exceeds $10,000 in a single day is reported to the feds. Part of an anti-organized crime law. Doesn’t mean anything is wrong with it, but it puts you on the radar. They said if you don’t want that to happen just take out smaller amounts over multiple days before you know a big purchase is needed.
    I use a local bank, so if I go in and ask for large sums of cash they ask if I’m buying a pinball machine.

    FYI. They watch that too. They know if you are gaming the system by breaking it up into smaller deposits or withdrawals. Really no concern at all reporting the larger than 10k amount. It’s a money laundering thing to stop terrorism.

    #40 2 years ago
    Quoted from ktuhde:

    I use a local bank, so if I go in and ask for large sums of cash they ask if I’m buying a pinball machine.

    LOL! I really miss the small banks that actually know you... Even my credit union that I've used for decades has grown to the point where you're not "known"...

    Jaz

    #41 2 years ago
    Quoted from PanzerFreak:

    Cash is still king, just show up like this.
    [quoted image]

    Years ago at the Pheasant Run Lodge that held the Chicagoland Jukebox Show , the over seas juke buyers would literally have a group of people walk around with brief cases of money paying for and loading up jukes in containers on site...

    #42 2 years ago
    Quoted from EricHadley:

    FYI. They watch that too. They know if you are gaming the system by breaking it up into smaller deposits or withdrawals. Really no concern at all reporting the larger than 10k amount. It’s a money laundering thing to stop terrorism.

    This is mostly true . I've been in baking risk basically my whole career. They are required to report cash deposits of $10K or greater. They can (and are obligated to) file a SAR for any activity they deem suspicious, including withdrawals and withdrawal patterns.

    I always tell people if you don't want these questions or reporting on your financial activity, don't keep your money in the bank.

    #43 2 years ago
    Quoted from grantopia:

    baking risk basically my whole career.

    cakes pies cupcakes?

    #44 2 years ago

    I use wire transfers for games sold/bought via shipping. Has worked well.

    #45 2 years ago

    I bought mine in cash. It was a little weird taking it out at the bank but surprisingly they let me have it all at once. The guy was really confused when I told him what I was buying with it though lol.

    And it's absolutely hilarious that someone's bank told them to obfuscate deposits via structuring. That's gotten a lot of people in trouble even if the money is legally yours and not related to a crime.

    #46 2 years ago
    Quoted from grantopia:

    I always tell people if you don't want these questions or reporting on your financial activity, don't keep your money in the bank.

    Exactly. Doesn't anybody keep some money around for a last minute pinball buy? If you typically buy and sell pinball machines as a hobby, just hang onto the cash from your last sale and use it for your next purchase.
    This question comes up over and over again, with each side having their adherents. As for me, I pay in cash and I only take cash, unless you are personally known to me. Then I will take anything including a handshake promise if I know and have dealt with you before. Although I now use a counterfeit pen detector based on a friend's recent experience.

    #47 2 years ago
    Quoted from sbmania:

    Exactly. Doesn't anybody keep some money around for a last minute pinball buy?

    Yes. I keep a sizable cash slush fund in the safe so I can grab a good deal if it comes up.

    #48 2 years ago

    That works for used games, but new ones are more difficult to buy with cash, especially if it's being shipped.

    #49 2 years ago

    First of all, I would never pay $20k for a pinball machine, but if I did, there is no way in hell I'd be walking around with that much cash on me. A wire transfer is definitely the way to go when you are talking that kind of money.

    #50 2 years ago
    Quoted from metallik:

    That works for used games, but new ones are more difficult to buy with cash, especially if it's being shipped.

    wire transfer?

    There are 166 posts in this topic. You are on page 1 of 4.

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