Testing this out now as is and it seems to working very well! Have only been using a fresh lvl 1 so far and is working very good. I will update after a few more hours as opposed to 10 minutes!
***UPDATE*** - I have witnessed something strange happen, my player went to the GE and withdrew 100 logs, sold them at the GE and clicked collect button (collecting all my flips) and I have 5m in my inventory, and proceeded to by a steel axe, even though I have a Mithril axe equipped? Not sure what was going on here? I think you took MaxedTitans idea but it somehow got confused. If it works, it would be awesome!