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Poker
Joined: 16 Jan 2010
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 Posted: Sat Dec 18, 2010 6:44 am Post subject: Carrying silver bullion bars into Korea |
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Hi
I have been trying to search info on carrying silver bullion across national borders and on international flights.
1) Maybe someone here can help me. What are the rules and regulations for bring physical silver into Korea?
2) It will be +-30kg of bullion bars (ten 100oz bars). this sounds stupid, but can I put it in my luggage or carry-on with me onto the flight? lol, sounds stupid. Anyways, so is it legal? Do I have to declare it? What costs do I have to pay immi?
3) If not, can I get it DHL'ed to me, is that legal? lol, sorry this is starting to sound ridiculous.
Basically, how do I carry physical silver from Taiwan into Korea?
Thanks for your time. |
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bbud656
Joined: 15 Jun 2010
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| Posted: Sat Dec 18, 2010 7:49 am Post subject: |
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| You can bet you are going to get asked a lot of questions. I know you can have around 10k worth of USD on you at once without filling out paperwork. I would try to get a hold of someone at your embassy. |
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Troglodyte
Joined: 06 Dec 2009
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| Posted: Sat Dec 18, 2010 8:46 am Post subject: |
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I don't know. You could have some big problems carrying it with you. If you want, you can FedEx it to me and I'll hold onto it until you arrive.
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jvalmer
Joined: 06 Jun 2003
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| Posted: Sat Dec 18, 2010 11:35 am Post subject: |
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You'll have to declare it, that is way over 10k.
If you carrying under 10k in monetary instruments you're fine. Make sure your additional cash and t/c's don't add up to over 10k. |
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superNET
Joined: 08 Dec 2010
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| Posted: Sat Dec 18, 2010 1:14 pm Post subject: |
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| Quote: |
| It will be +-30kg of bullion bars |
Why would you want to? Where would you trade it in for cash? it makes no sense whatsoever if you are coming as an English teacher. |
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tatu
Joined: 23 Jun 2006
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| Posted: Sat Dec 18, 2010 5:16 pm Post subject: |
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| Why would you want to? Where would you trade it in for cash? it makes no sense whatsoever if you are coming as an English teacher. |
That comment makes no sense. There are loads of places to buy and sell silver in Seoul. We buy near Jongno. And buying and selling silver is restricted to your job?
Sorry OP I don't have and answer for you but I would contact customs?! |
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Epik_Teacher
Joined: 28 Apr 2010
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| Posted: Sat Dec 18, 2010 5:30 pm Post subject: |
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| I've carried gold, silver and platinium in and out of Korea. Never had a problem, providing it's less than $10k. If it's above, just declare it. They probably won't even bat an eye as long as you're not trying to hide it. |
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GoldMember
Joined: 24 Oct 2006
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| Posted: Sat Dec 18, 2010 6:09 pm Post subject: |
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Easiest may to transport precious metals is via coins. Buy a 1 ounce gold coin for $1400. It has a face value of $1. What are you transporting $1.
Same with Silver coins. Don't buy bars in Korea. Samsung sells them (of course-who else) but there is a big premium PLUS 10% government tax. |
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Junior
Joined: 18 Nov 2005
Location: the eye
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| Posted: Sat Dec 18, 2010 8:42 pm Post subject: Re: Carrying silver bullion bars into Korea |
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| Poker wrote: |
| It will be +-30kg of bullion bars (ten 100oz bars). this sounds stupid, but can I put it in my luggage or carry-on with me onto the flight? . |
Why are you carrying silver bars?
These guys crack me up.
If it all goes down, the last thing anyone will want is gold and silver. You can't eat either of them. |
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superNET
Joined: 08 Dec 2010
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| Posted: Sat Dec 18, 2010 8:55 pm Post subject: |
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| Quote: |
| That comment makes no sense |
Sure it does because why would anyone want to transport silver bars especially with a weight restriction on one's luggage.
Oh and I am not an investor in precious metals so the comment caught me by surprise. To me investing in such things are just too risky and makes you more vulnerable to theft. |
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comm
Joined: 22 Jun 2010
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| Posted: Sat Dec 18, 2010 9:28 pm Post subject: Re: Carrying silver bullion bars into Korea |
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| Junior wrote: |
Why are you carrying silver bars?
These guys crack me up.
If it all goes down, the last thing anyone will want is gold and silver. You can't eat either of them. |
I dunno, diversifying your apocalypse portfolio into bars of both silver and ramen might be a good plan. The first things to have value to the masses after food are generally shiny. |
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Lazio
Joined: 15 Dec 2010
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| Posted: Sat Dec 18, 2010 9:36 pm Post subject: Re: Carrying silver bullion bars into Korea |
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"If it all goes down, the last thing anyone will want is gold and silver. You can't eat either of them"
Yeah sure, paper just tastes so much better. You can also make fire with bills and stay warm... |
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jvalmer
Joined: 06 Jun 2003
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| Posted: Sun Dec 19, 2010 12:17 am Post subject: Re: Carrying silver bullion bars into Korea |
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| Junior wrote: |
| Poker wrote: |
| It will be +-30kg of bullion bars (ten 100oz bars). this sounds stupid, but can I put it in my luggage or carry-on with me onto the flight? . |
Why are you carrying silver bars?
These guys crack me up.
If it all goes down, the last thing anyone will want is gold and silver. You can't eat either of them. |
Silver and gold have been traded for goods for thousands of years, it will have value for a long... long... long... time. The paper money value is highly volatile, but at least won't end up like the Zimbabwean dollar any time soon. |
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blue.sky
Joined: 31 Aug 2009
Location: a box on the 15th floor
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| Posted: Sun Dec 19, 2010 3:40 am Post subject: |
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This all seems a bit silly. If you're hell-bent on keeping physical then why not sell your silver in Taiwan and buy a silver EFT, come to Korea, sell your ETF and buy physical?
You could even skip the EFT part.
Lugging 30kg of silver to and from airports doesn't make any sense. You'd haven to find a reputable dealer here first though... |
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bobbybigfoot
Joined: 05 May 2007
Location: Seoul
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| Posted: Sun Dec 19, 2010 5:47 am Post subject: |
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| Guys, you are being trolled. |
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