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Collecting Payment as a Private Seller
jw5150 Member Posts: 1 ✭
edited April 19 in Ask the Experts
I've never sold a gun on gun broker before. I'm not a business nor do I have an account with credit card a processor. I want to sell my Sig P226 Stainless Elite. With that said, after reading the 'how to' articles on GB it seems my only real option is cash, check or money order. Did I miss something or is that pretty much it if I'm not considered a merchant?
PS. I have shipping figured out. My local FFL will ship to another FFL for me for $25 plus cost.
This discussion has been closed.
Hopefully this Forum topic will be of interest to you - there is some good information regarding personal and cashier's checks:
Best Regards - AQH
You are lucky to have a dealer nearby who has such a reasonable fee.
I prefer a cashier's check from a major bank, but but I have had no problems with personal checks. I check the feedback when considering how long I should wait to ship.
Do not accept money orders issued by MoneyGram.
USPS Money Order is my favorite form of payment.
First off it is NOT necessary for you to pay an FFL dealer to ship, it is perfectly legal for you to ship a gun to a FFL dealer. You need a copy of his FFL prior to shipping. US Postal Money orders are the Best, obviously cash is really the best but harder to deal with. Make sure to say in ad that you are an individual, so your buyer can make sure his dealer is aware of the law allowing you to send the gun. Many dealers don't know the law and are unaware you can do that.
"My local FFL will ship to another FFL for me for $25 plus cost."........THIS IS BY FAR, THE CHEAPEST WAY TO SHIP A HANDGUN FOR YOU. AS THE ABOVE POSTERS HAVE SAID CHECK OR USPO MONEY ORDER IS BEST.
If you ship it...No handguns via USPS!!!!
FFL HAS to ship a handgun via USPS, legally. Yes, some people do not follow that law but if it is lost you are out of luck as you broke the law to start with and USPS will not pay any claim if something happened.
USPS insurance is a waste of money and a cash cow for the USPS. I learned my lesson and will never buy it again.
Ohh yes, I know. They didn't pay me twice and I appealed to no avail. Maybe someone else got a claim paid but not me
As that is a handgun, the best method is to ship by USPS Priority Mail which requires an FFL to FFL shipment using Form 1058. If no credit card processing, USPS money orders are my favorite as those can first be verified online as to the "status" plus those are difficult to fake. Bank cashier's checks or bank certified checks can either be verified by you calling the issuing bank or by your bank calling them when you go to make the deposit. Some issuing banks will not verify their certified checks unless you are another financial institution. If you accept any other type of paper payment including a more common money order or personal check, I would advise placing a minimum of 10 business-days hold on the payment.
If it is shipped FFL to FFL (verified on both ends thru the ATF), how/what does the USPS Form 1058 benefit?