Korean Job Discussion Forums

[mistermasan]

where in korea can i buy gold coins?

[Beeyee]

Good question. I would like to know this too.

[spliff]

Me three....

[princess]

You'll be dead before they are worth anything.

[numazawa]

[mistermasan]

i bought gold coins about 3 years back and sold not too long ago. it was nice. it ain't going down anytime soon.

[Intrepid]

I'm interested, too.

[Beeyee]

[alpope23]

I used the search!

Daum's search, that is. Maybe these terms will be helpful.
Numismatics
화폐학

gold
금

and

coin collecting
동전 모으기

I found http://www.hwadong.com/index.jsp Search it using 금 and about 280 hits come up. Collector grade coins, most of them and pricier than home. (for instance a 2006 $50 buffalo on ebay has buy it now for abouk a grand and this place says 1,400,000)

Oh yeah, silver is 은 !

I believe it is in Seoul: 서울시 서초구 서초동 1466-14 ㈜화동양행
(우)137-070 Phone 02-3471-4586

Hope this helps

[HapKi]

If you are just interested in the bullion value, most mom and pop jewelry stores have a tray in their case of pure gold items. Pigs, keys, turtles, and rings are the common shapes. The measurement is the don 돈, and it is 3.75 grams. They refer to the daily spot for their prices, and plus their 5% or so profit, its a pretty good deal. Also, paying cash instead of credit card saves a couple won.

[mike in brasil]

I've been using kitco.com to buy my coins & bullion. I have all of it delivered to relatives in the US cause it's cheaper that way.

I've also bought the 37.5gram (10 teel) bars in Korea. You can find them in many places, but you must be careful of the shop owners who will charge you way above spot price, plus they don't take into account the the currency difference. If you're not careful you'll pay 15% above spot. On the two occasions I bought this way, I successfully bargained them down on the price by 2-3%. They are not your friends, remember that!

Kitco is good because they usually charge about 5% above spot price.

My recommendation is to diversify. Platinum is by far the strongest, but silver has the most potential for percentage gains.

Metals have seasonality too. Around May is the best time to buy, now is not the best time. Buy in the US$730-650 (or better) range if possible.

Educate yourself before you get in AND plan an exit strategy!!!! Think about how/when/howmuch you'll sell for.

Last I checked 1gr was 26.79 (selling price). So, if you buy in Korea, make sure you aren't paying too much above that.

[cunning_stunt]

Invest in a hedged mining and mineral fund with one of the big asset managment companies . Invest monthly over a middle to long term basis so that you are buying shares through highs and lows in turn benefitting from the asset class , compound interest and the natural "wave motion" of the fund .

You can buy and trade gold coins via many websites . Kruger rands are very popular and have a good reputation for their purity .