Never sold at an exchange - what happens

Hey,
Never sold at a dealer such as Adelaide Exchange Jewellers before. What happens, say when you want to cash out a $10k worth silver?

1) Do they wanna see the purchase receipts?
2) Do they report the transaction to the ATO over a certain amount?
3) Do they tend to give a cheque or cash?

Some practical insights will be appreciated.

 

At very least they will want ID, probably want to bank transfer to you, wont need receipts

 

Anything over 10k is reported to the ATO. You will need to provide ID to the purchaser.

Ummm bad wording! Dealer I mean.

 

Thank you. Is that a cumilative amount on the same ID? Active for a week or a month or so? Or is it $10k per day sort of a calculation?

Also, didnt the SS forum have a sell/buy section before, can't seem to find it...

 

best to sell private mate unless desperate for quick exit

 

One hit

 

Sell here it will move fast no ID needed fresh cash at ya bank. But forum rules you may not like... Your trade history is 0 so the buyer may want you to post or F2F first. I can go escrow for you in Perth at no charge to you if you wish. Can get anyone on the forum to vouch my integrity if need be.