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Subject: Anyone have any Euros for sale? rss

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Yours Truly,
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I saw that title in my neighborhood online discussion forum.
I got excited that another gamer was in town, and was about to direct them to BGG Market... when I looked at the thread and saw that they were referring to the currency blush

(Is that even legal? To trade currency like that off-market?)
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Exit 191
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Sell them some Power Grid money.
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David Jones
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JohnnyDollar wrote:
(Is that even legal? To trade currency like that off-market?)


Why would it be illegal? Currency is not ownership in a company, a debt instrument, or a derivative. I'm not aware of an SEC regulation that would apply.
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Yours Truly,
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davypi wrote:
JohnnyDollar wrote:
(Is that even legal? To trade currency like that off-market?)


Why would it be illegal? Currency is not ownership in a company, a debt instrument, or a derivative. I'm not aware of an SEC regulation that would apply.


Because I often hear about the "currency black market" (usually in other countries, like in travel guide books) and somehow that gave me the impression that it's not legal.

I always thought "black market" implied illegal or at least shady/sketchy.
 
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Scott O'Brien
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Currency black markets are usually ones which pay more for certain currencies than others...

for example:

Lets say you were going from Europe to visit somewhere in central America that routinely ships drugs into the US.
When you arrive there, you can give them an equal value amount of Euro's or Dollars for an amount of local spednable currecny.

Legal Cash exchanges will give you the same amount of currency, no matter what currency you pay in (USD or EURO)... as long as you pay them equal value.

In this case, Your American cash dollars may fetch a 30% premium since they can use them as part of their drug/money laundering operation, while the euro's just give you a base rate.

That is a black market cash exchange, and yes, it is illegal.


Private selling of currency is not the same.
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Rick Thomas
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I assumed that it was about coin collecting and someone was just trying to get new Euros.
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Yours Truly,
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b5dorsai wrote:
I assumed that it was about coin collecting and someone was just trying to get new Euros.


There was actually a post about a month ago from a guy looking for D&D groups, so gaming isn't unheard of on the neighborhood boards - I assumed it was something like that...
 
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Pieter
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Currency black market is not necessarily crime related. There are countries where the government decides what their currency is worth in US dollars or euros, and when you want to travel in such a country you HAVE to exchange some money for the given exchange rate. However, in actuality dollars and euros are worth far more, and you can exchange money with citizens for far better rates. Before the fall of the Berlin wall I traveled through Eastern Europe, and the exchange rate offered by citizens was over ten times as high as the "official" one.
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