Korean Job Discussion Forums

[Adventurer]

Does anyone make purchases of silver and gold? I know this was discussed earlier? I know you can buy 100, 300, and 500 gram bars of silver in the jongno 3-ga stores. If they don't have the weight you want, they can mail it to you. They don't sell gold coins. I'm not sure where one can buy gold coins such as Krugerrands or Maple Leafs or Pandas. I don't know about trying to order them and have them shipped here. That seems risky with customs. Do you take your stuff back home when you go home or try to just keep everything with you and sell before you go home?

[young_clinton]

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.

[Adventurer]

[Capo]

are you worried the world is going to end or korean war? why do u want bullion? unless ur buying loads its a bad investment. better to go for an ETF or better still actual gold stocks have been hammered in the the last 2 years despite gold rising. yes costs have risen too but not so much as the gold price and gold stocks a due a rebound. thats where my money would be. There are lots of ideal candidates i know on the TSX and AIM, unfortunately I don't know about other stock exchanges

[Enigma]

I'm just writing to offer an alternate view to the other 2 posters. There are pros and cons to each method (bullion/gold stocks/gold ETFs), but there are many reasons why owning bullion is better than owning shares in gold companies or gold ETFs. Anyone that actually reads the small print in the ETF prospectuses realizes that if there's any serious problem (look at Europe), there's a good chance they're not getting their money back. With bullion, you've already got your money and don't have to worry whether or not some ridiculously over-leveraged bank is going to go bankrupt or trade away your holdings. Anyone that's studied what some of these banks have been up to, understands why trusting them to properly protect your money is a bad play (try looking up how much paper gold there is in the world compared with how much actual gold there is).

And I'm not sure why Capo thinks buying bullion is a bad idea unless you buy a lot. Look at the price of gold over the last 10-15 years. Anyone that bought bullion then and held it is laughing. They're way up regardless of how much or how little they bought. I realize that doesn't guarantee it continues to out-perform, but as long as the central banks keep printing stupid amounts of money out of thin air, I think it's quite likely.

For the record, I'm not saying buying gold stocks is a bad idea, I'm just saying your plan to buy bullion is a good idea.

A good website to check out is ZeroHedge. Although there's a lot of bs on there, if you sift through the loons there are a lot of posters who explain what's really going on in the economy.

[Adventurer]

[harryh]

http://www.soongumnara.co.kr/

[Adventurer]

[harryh]

I buy the kilo bars from soongumnara. I also have physical gold from www.goldmoney.com

Stockwise I'm holding PAAS, TRX, NGD, MUX in America.
KYS on the AIM market.

$700 is to scare people imo. There is more debt than physical money in the world these days. With more money in circulation, we've seen higher energy costs, labor costs etc in recent years. If $700 was seen, it would mean there is little to no demand for it. Average production costs worldwide must be close or more than $700 an ounce. I agree with the view that Europe and America will be printing a whole lot more money in the coming years.

Personally, I see more upside in silver for the industrial and store of wealth angle. Time will tell, but miners do look cheap, especially if you can find the right ones. The grades have to be good imo for both gold and silver.

[Adventurer]

[harryh]

[/quote]Do the Soongumnra bars say that the bars come from Korea?[/quote]

From the Korea Gold Exchange.
http://www.koreagoldx.co.kr/

Comes with a guarantee certificate and serial number. My wife checked its authenticity afterwards, and all seems in order.

We researched many different silver sellers and amongst Koreans soongumnara seems the most popular.

[Adventurer]

[harryh]

I ordered the bars on the internet, and picked them up three days later in Busan after they had been made.

On the front of the bars it reads "KOREA GOLD EXCHANGE", and multiple times on the back of the bars.

500g and 1 kilo bars are what available.

www.goldmoney.com charges storage fees.

[TDC troll]

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

[goreality]

Get a small coin or two for decoration and nothing more in your house.
If you really think now is the right time, open up a 'gold' bank account until you can afford at least 10ounces to pay for a company with a bomb proof vault on a secured military base to and hold real, insured gold for you. For silver I would just recommend the bank account and maybe some forks.