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LURKER
Joined: 26 Mar 2009
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 Posted: Tue Sep 27, 2011 9:19 am Post subject: How to buy precious metals in South Korea? |
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I want to move my money out of the won by buying precious metals, including gold and silver. What is the best way of doing that in this country?
Thanks for any advice you can give. |
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harryh
Joined: 16 Jan 2003
Location: south of Seoul
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| Posted: Tue Sep 27, 2011 2:26 pm Post subject: |
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I don't buy in Korea but rather use
http://www.goldmoney.com/
I transfer money from my British bank account and the physical is stored in both London and Switzerland. I usually buy bi-monthly. I buy gold or oil stocks during the other month. |
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lowpo
Joined: 01 Mar 2007
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| Posted: Tue Sep 27, 2011 3:48 pm Post subject: |
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| harryh wrote: |
I don't buy in Korea but rather use
http://www.goldmoney.com/
I transfer money from my British bank account and the physical is stored in both London and Switzerland. I usually buy bi-monthly. I buy gold or oil stocks during the other month. |
I buy in America and have it shipped to my sisters house. Then she will store it in a safety deposit box. When go I go China I will buy some more. |
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GoldMember
Joined: 24 Oct 2006
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| Posted: Tue Sep 27, 2011 3:52 pm Post subject: |
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This being Korea, guess who has the Gold Business all tied up. Starts with an S. Yep Samsung. They'll rape you on price PLUS the government charges an extra 10% sales tax.
Don't buy in Korea! |
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alwaysgood
Joined: 15 Aug 2011
Location: Changwon
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| Posted: Tue Sep 27, 2011 4:04 pm Post subject: |
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| Besides the fact that gold does not produce interest, it appears to be in a bubble right now. You should really consider other investment options. |
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nw25th
Joined: 15 Feb 2009
Location: Daejeon
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| Posted: Tue Sep 27, 2011 4:22 pm Post subject: |
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| alwaysgood wrote: |
| Besides the fact that gold does not produce interest, it appears to be in a bubble right now. You should really consider other investment options. |
^^^^^^^^^^^^^^
you missed the timing for gold |
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GoldMember
Joined: 24 Oct 2006
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| Posted: Tue Sep 27, 2011 5:22 pm Post subject: |
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| Here we go again. Teachers that know more about the gold market than professional gold traders. The pros can't tell you what gold will do next month, but these people can! |
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Modernist
Joined: 23 Mar 2011
Location: The 90s
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| Posted: Tue Sep 27, 2011 7:58 pm Post subject: |
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| Quote: |
| I buy in America and have it shipped to my sisters house. Then she will store it in a safety deposit box. |
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| d the physical is stored in both London and Switzerland. |
So I guess when the apocalypse comes you guys will be ALL set. Not for you that FAKE gold or some piece of paper saying you have gold. Oh no. Nope, you've got the real thing, ingots in a box someplace that are YOURS, YES ALL YOURS. When the currency collapses and the riots begin and society is falling, you will have the security of knowing that you, unlike those other fools with their fiat money, have some big blocks of heavy yellow metal that will NEVER EVER EVER lose their value. You will be safe and protected, yes you will. 
You goldbugs should read the Power of Gold by Peter Bernstein. Try taking the long view and maybe you'd see how ridiculous it is to put your faith in a 'precious metal' that isn't particularly rare, particularly useful or particularly stable in value. |
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