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Adventurer
Joined: 28 Jan 2006
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 Posted: Tue Jul 03, 2012 5:06 am Post subject: |
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| TDC troll wrote: |
You must be loaded .
It says that a 1000gram / 1kg bar would cost right around $53,000 !
And you have purchased bars .
I don't know actually how wise of an investment that is , but it sure is a hefty one .
I hope you kep those in a safe place .
Would you actually be able to take those with you out of the country?
I know for any foreigner , they would need some pay receipts to show how much they have earned .
I think the limit for a Korean national is 50,000,000 won .
And if you actually needed the money in a hurry , wouldn't you take a great loss selling them ?
~ curious |
I can speak for Harry. I'm sure he knows what he's doing. I don't have enough money for a kilo silver bar. He's referring to the silver bars. A kilo of silver may cost around 1.1 million won. I'm not clear on the rules when it comes to importing silver in the U.S.
I brought some with me on vacation, and US Customs hassled me a bit about it not being stamped with the country of origin. It reminds me of a socialist foreign country in the 1970s if that's the rule. They couldn't quote me a rule, and they looked it up. All I know is they let me go through, and I'm still trying to find a law that says clearly that bars have to be marked as to where they came from . Maybe such a law doesn't exist.
I sent them an e-mail. Many investment advisers do advise that you have some bullion investments, but not the majority of your portfolio. |
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harryh
Joined: 16 Jan 2003
Location: south of Seoul
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| Posted: Tue Jul 03, 2012 6:08 am Post subject: |
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I buy silver bars, usually bi-monthly. I also buy silver through www.goldmoney.com
I buy my gold via www.goldmoney.com
It's not something I'd like to hold in the house for sure!
The majority of my investments are in the stock market. Oil being the biggest, GKP in London (from 11.94p) and WZR in Canada (from 81c).
I have a selection of silver and gold stocks.
I have held FML in London at an average of 3.57p.
Gold and silver (physical) is about 20% of my portfolio currently.
Looking to hold them all for the longer term. My personal view is that the American debt ceiling will be raised as I don't see an economic recovery there. Europe is no better, they will print. UK the same. Japan will continue to debase their economy as they have done for many years.
Until I see govts changing policies to change the debt trend, and debasement of their currencies, I'll keep my PMs.
The silver bars I hope to pass onto my children. I hope I don't need to sell them. I just think that silver at $26 will seem cheap when the debt crisis has been solved, if ever. |
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Emark
Joined: 10 May 2007
Location: duh, Korea?
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| Posted: Wed Jul 04, 2012 5:41 am Post subject: |
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| young_clinton wrote: |
It's better to buy stock in a company that stockpiles gold than to buy the gold itself. You can get a TDAmeritrade account and do it online. It would be faster and you won't be paying money for making the coins and overhead etc.
Just go to "TheStreet.com" and look for one of those companies.
Another thing also if you're a European from a country that uses the Euro, You might want to buy US dollars, because some people are saying that the Euro is going to fall down to the same value as the dollar. Of course it will eventually go back up again. |
OMG. Are you serious bro!?? |
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Emark
Joined: 10 May 2007
Location: duh, Korea?
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| Posted: Wed Jul 04, 2012 5:59 am Post subject: |
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You're planning to return to where ever it is that you came from at some time in the future and then live there for an extended period of time and probably die there too.
That being the case, your best buy is the product that your going to use in the future where you're going to "cash" it in.
I have never and probably will never see Korean gold and silver in a top 10 precious metal producing countries list.
The fake metals are all over eBay. Check out some of the you tube videos about some of the fake silver that is rampantly running through the markets. I doubt many people reading this have more than 100 purchased ounces of any precious metal under their belt. So people should be careful! On the same note, don't be so careful that you think buying fiat silver / faux metals in the form of paper is going to be safe. The real deal is the best buy.
I buy silver from Northwest Territorial Mint. While I'm here in Korea, the product gets shipped to my Dad in Canada. I've shown him what to look for when he gets the stuff. He inspects everything and reports back to me. I haven't had garbage coins and bars sent to me yet.
I won't buy something that other people in the future won't recognize or accept in trade, barter, or sale.
Good Luck in your silver prepping. |
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Adventurer
Joined: 28 Jan 2006
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| Posted: Wed Jul 04, 2012 12:14 pm Post subject: |
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| Emark wrote: |
You're planning to return to where ever it is that you came from at some time in the future and then live there for an extended period of time and probably die there too.
That being the case, your best buy is the product that your going to use in the future where you're going to "cash" it in.
I have never and probably will never see Korean gold and silver in a top 10 precious metal producing countries list.
The fake metals are all over eBay. Check out some of the you tube videos about some of the fake silver that is rampantly running through the markets. I doubt many people reading this have more than 100 purchased ounces of any precious metal under their belt. So people should be careful! On the same note, don't be so careful that you think buying fiat silver / faux metals in the form of paper is going to be safe. The real deal is the best buy.
I buy silver from Northwest Territorial Mint. While I'm here in Korea, the product gets shipped to my Dad in Canada. I've shown him what to look for when he gets the stuff. He inspects everything and reports back to me. I haven't had garbage coins and bars sent to me yet.
I won't buy something that other people in the future won't recognize or accept in trade, barter, or sale.
Good Luck in your silver prepping. |
I understand there's a risk of getting fake bullion if you're buying items from auction sites. The silver I purchased was from a jewelry store, not e-bay. I would think the jewelers know what's real, and what is not. I have heard of the mint you described. I would buy from certain dealers if I could get them shipped to Korea, but I would have problems with customs. That's why I buy things locally. |
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Reggie
Joined: 21 Sep 2009
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| Posted: Wed Jul 11, 2012 6:16 pm Post subject: |
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I like the 37.5 g Samsung gold ingots. Any of the 37.5 and 18.75 gram ingots can be bought at Jongno for around spot. I saw a Mitsubishi 37.5 g ingot at a jeweler in the southern Seoul metropolitan area, but there was a dent in it caused by the manufacturer. I never sell, but I believe these would bring a 10% premium on Ebay. A lot of people are very willing to pay well above spot for seldom seen loaf style ingots like those. And I'm meaning seldom seen as in on Ebay, North America, or Europe. In Jongno and jewelry stores throughout Korea, they're very common!
I didn't say anything to customs. I've read where silver is opaque on x-ray scanners, but gold is transleuscent. |
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Udo
Joined: 22 May 2011
Location: Seoul
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| Posted: Sat Jul 14, 2012 11:46 am Post subject: |
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| If you are interested in physical gold/silver, its best to buy in the U.S. or Canada from a reputable dealer. The reason is that you only pay 1 or 2 percent over spot as opposed to Bulliondirect.com and others that add 10-15 percent because of insurance and shipping. I have heard that you can buy physical gold in Korea at a reasonable price near spot but I have not done it. |
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Emark
Joined: 10 May 2007
Location: duh, Korea?
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| Posted: Mon Jul 16, 2012 3:36 am Post subject: |
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When I was in Calgary, I dealt with this outfit:
http://www.diverseequities.com/index.php
It is always preferable to deal face to face with the seller. Better pricing too. As a current client, I can still purchase from him while I'm in Korea. My dad does the p/u.
I have inquired with this company and arrangements can be made to have online purchases sent to somebody who will sign for the package on your behalf back home in the USA or Canada.
http://www.nwtmint.com/
Again, i highly discourage buying unknown quantities and values of precious metals here in Korea expecting to be able to sell or trade them back home. |
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Reggie
Joined: 21 Sep 2009
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| Posted: Fri Jul 20, 2012 9:18 pm Post subject: |
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| Udo wrote: |
| If you are interested in physical gold/silver, its best to buy in the U.S. or Canada from a reputable dealer. The reason is that you only pay 1 or 2 percent over spot as opposed to Bulliondirect.com and others that add 10-15 percent because of insurance and shipping. I have heard that you can buy physical gold in Korea at a reasonable price near spot but I have not done it. |
When there's a sudden substantial drop on Kitco.com or whatever up to the minute website you prefer, you can hurry to Jongno and get it under spot if you have time. |
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Adventurer
Joined: 28 Jan 2006
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| Posted: Tue Jul 24, 2012 8:39 pm Post subject: |
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| Emark wrote: |
When I was in Calgary, I dealt with this outfit:
http://www.diverseequities.com/index.php
It is always preferable to deal face to face with the seller. Better pricing too. As a current client, I can still purchase from him while I'm in Korea. My dad does the p/u.
I have inquired with this company and arrangements can be made to have online purchases sent to somebody who will sign for the package on your behalf back home in the USA or Canada.
http://www.nwtmint.com/
Again, i highly discourage buying unknown quantities and values of precious metals here in Korea expecting to be able to sell or trade them back home. |
And why can't one say sell the silver one buys in Korea in North America? I don't see why not? I left some of my silver back in the U.S., and I plan on selling it later at some point. Some of the silver I bought recently, though, was silver coins (1 oz), and they're American coins. I hope there won't be any problem selling the silver bars that I purchased from Korea. They're not major value items. I don't think I'd buy anymore unless they're from the Korea Gold Exchange. As far as I know, jewelers can tell if silver is genuine or not. I would assume that the jongno dealers are reputable. |
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