| View previous topic :: View next topic |
| Author |
Message |
jdog2050
Joined: 17 Dec 2006
|
 Posted: Wed Feb 11, 2009 12:36 am Post subject: Shinhan Goldee Richee account |
 |
|
So this was brought up as a blurb in another thread--
Basically if you want gold without too much risk--shady dealers, buying lumps at once, etc, Shinhan has an account where you buy grams of gold instead of depositing money.
The grams are insured by the bank and the bank must always have them on hand. They're selling this to Koreans as an investment, but I'd say you should have one in this economic environment.
My plan is to buy maybe $500 worth and if the price of gold slips my account to, say, $480, I'll yank it.
I think this is a great deal because you can yank the account any time, and your main responsibility is to check gold prices at least once a day. |
|
| Back to top |
|
 |
D.D.
Joined: 29 May 2008
|
| Posted: Wed Feb 11, 2009 12:40 am Post subject: |
|
|
| So you want to lose 20 bucks? |
|
| Back to top |
|
|
jdog2050
Joined: 17 Dec 2006
|
|
| Back to top |
|
|
JungMin
Joined: 18 May 2005
|
| Posted: Wed Feb 11, 2009 2:33 am Post subject: |
|
|
What amounts of gold are you able to buy (1 ounce, 1/2 ounce, 1/4 ounce, etc)? Any idea how much tax you have to pay on gold purchases? Can you sell it at any time?
Sorry for the questions jdog, but i'm curious as last year I bought a bunch of gold and silver abroad. But this sounds like a much better idea. |
|
| Back to top |
|
|
jdog2050
Joined: 17 Dec 2006
|
| Posted: Wed Feb 11, 2009 8:04 pm Post subject: |
|
|
| JungMin wrote: |
What amounts of gold are you able to buy (1 ounce, 1/2 ounce, 1/4 ounce, etc)? Any idea how much tax you have to pay on gold purchases? Can you sell it at any time?
Sorry for the questions jdog, but i'm curious as last year I bought a bunch of gold and silver abroad. But this sounds like a much better idea. |
I PM'ed you Jungmin.
Also: for those interested, I'm researching a gold price widget right now. I'll test it out for a couple days and get back. |
|
| Back to top |
|
|
Dodgy Al
Joined: 15 May 2004
Location: Seoul
|
| Posted: Wed Feb 11, 2009 8:38 pm Post subject: |
|
|
| What are the charges / commision rates like? |
|
| Back to top |
|
|
jdog2050
Joined: 17 Dec 2006
|
| Posted: Wed Feb 11, 2009 8:45 pm Post subject: |
|
|
| Dodgy Al wrote: |
| What are the charges / commision rates like? |
I'll have to get back to you, but I don't think there are any--it's just a bank account, except it's all in gold. I did notice that the rates are a little lower on selling, so that's probably how they're making their money. |
|
| Back to top |
|
|
JungMin
Joined: 18 May 2005
|
| Posted: Wed Feb 11, 2009 9:19 pm Post subject: |
|
|
| I just went and opened the account and as far as I can tell, they charge 4.5% commission. It was 1.5%, but as of February they now charge 4.5%. I could be wrong....but thats what it looks like when I go into my account. |
|
| Back to top |
|
|
Jeff's Cigarettes
Joined: 27 Mar 2007
|
| Posted: Wed Feb 11, 2009 9:24 pm Post subject: |
|
|
Think I'll wait until the gold sale the Fed is planning and get in at a low price.
4.5 is a pretty hefty wack if u ask me.  |
|
| Back to top |
|
|
Dodgy Al
Joined: 15 May 2004
Location: Seoul
|
| Posted: Wed Feb 11, 2009 9:28 pm Post subject: |
|
|
| JungMin wrote: |
| I just went and opened the account and as far as I can tell, they charge 4.5% commission. It was 1.5%, but as of February they now charge 4.5%. I could be wrong....but thats what it looks like when I go into my account. |
4.5%??!?!?! Man... Is that just when you sell, or when you buy as well?
Either way, that's pricey.
The website I use charges 0.08% for transactions, plus $4 a month if you have any gold. |
|
| Back to top |
|
|
JungMin
Joined: 18 May 2005
|
|
FAQ
Search
Memberlist
Usergroups
Register
Profile
Log in to check your private messages
Log in
