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Hands down, the cheapest place in the world to buy gold coins

panda-gold-coins

January 17, 2011
Santiago, Chile

For anyone looking to hold gold as a store of value or even medium of exchange, major gold coin mintages like the Eagle, Maple Leaf, and Krugerrand are advantageous because they’re recognizable worldwide.

You can do business in a coin shop anywhere in the world from Vancouver to Vanuatu with one of these coins; bulk bullion, on the other hand, needs to be specially weighed and assayed by experts before being traded.

For this reason, the premiums for which gold coins sell tend to rise substantially in crisis periods when demand for physical metal is high. In the initial days of the 2008 financial crisis, premiums shot up from 4% to well over 10%, even though the price of gold was simultaneously falling sharply.

Today, with gold routinely taking out its all-time highs, gold coin premiums around the world have remained fairly high– this is one of the things that we typically look at here at Sovereign Man as we constantly travel the globe… and why what I’m about to tell you might have you falling out of your chair:

Tim Staermose, one of our Asia partners, was in Hong Kong last week, and he conducted his normal rounds of the various banks in the Central business district that sell gold bullion coins over the counter to walk-in customers such as Hang Seng Bank, Bank of China, and Wing Lung Bank.

At Hang Seng Bank, Canadian 1 Oz Maple Leaf coins — in pure, 24 karat gold — were available for cash purchase in Hong Kong dollars at just 0.5% above the prevailing spot price of gold.

This is dirt-cheap… or as they say here in Chile, ‘precio de huevos’, and it certainly presents an interesting arbitrage opportunity. Depending on your objectives, however, there may be even better gold coin buys in Hong Kong at the moment.

Over at the Bank of China, for example, the Chinese Panda coins were quoted at 4.9% above spot gold.

Personally, I think the Panda is one of the most beautiful gold coins of all, and in North America they typically sell for much greater mark-ups above the spot price of gold than most other coins, often over 20%. In the UK it’s even more.

Many collectors value the Pandas simply for their aesthetic beauty; and it probably doesn’t hurt that the dealers authorized by the People’s Bank of China to sell Pandas in the US have a virtual monopoly on the market.

Still, this situation can be exploited to your advantage– the difference between the buy price in Hong Kong and the sell price in North America is roughly $275 per 1-ounce coin.

If I had nothing to do and were looking for some adventure, I’d raise some grubstake to fly to Hong Kong, buy coins, and sell them back home at a profit to pay for the trip… or better yet, offer a fee-based service to gold coin investors to buy cheap coins in Hong Kong on their behalf.

For other folks who haven’t yet built up a stash of gold bullion, I would urge you to consider taking a trip to Hong Kong to get started; I’m certain that the money you’ll save will more than pay for the flights, and a nice holiday for you and your loved ones as well.

About the author: Simon Black is an international investor, entrepreneur, permanent traveler, free man, and founder of Sovereign Man. His free daily e-letter and crash course is about using the experiences from his life and travels to help you achieve more freedom.

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Comments on this entry are closed.

  • Hedy1234

    Simon

    Please elaborate on the difficulties of bringing quantities of gold coins back into the US. For example:

    1. Can you readily get through customs? What are the Customs taxes?
    2. Can you readily get through TSA screenings?
    3. Is there an alternative way to ship them that you would be comfortable in using?

    • sa Guest

      have you had a reply yet?

      • Nat

        Do you know where in London/UK I could sell the panda(s)? I live in HK working as a teacher and this could help out alot when I go back to UK to visit family. I have checked online but so far none of the dealers have offered a price that makes it worthwhile?

  • Dcrain99

    Simon, I very much enjoy your articles, but you are way off on this one. Apmex has the 2011 gold Pandas for about $96 over spot (7% premium) and Gainesville Coins has the 2011 gold Pandas for $60 over spot (4.4% premium). I checked other sites and all had premiums under $100.

  • redpill

    Something tells me bringing back any noteworthy quantity of Gold Pandas through airport security and customs is going to cause you some difficulties.

  • Hedy

    My earlier comment seems to be missing so I am repeating it.
    xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

    Simon, Please expand on:

    1. Difficulty of getting through customs with significant amount of gold coins.
    2. Difficulty of getting through TSA with the same materials.
    3. Amount of customs taxes that will add to the cost.

  • Diogenes

    Please move this post to the confidential area for obvious reasons.

  • Chuck B.

    Timely post Simon, as I am planning a trip to HK in the spring.
    My question: What are the rules for bringing gold coins back into Canada? It’s been my experience that travelers returning from HK are heavily scrutinized by customs. They seem very focused on finding things they can confiscate for their seizure auctions or charge extra duties.

    • Bryan

      AFAIK Maple leafs are official Canadian currency, therefore one is $50 CAD. Canadians are allowed to import $10,000 of Canadian currency without declaration.

      • Chuck B.

        Thank you for the info.

  • Intrepid

    Simon: I started packing my bag, then reality set in. How does one SAFELY get the coins into the US? Please elaborate on the mechanics of actually doing this.

  • Hlatin

    How much do you have to pay for custom duty to bring into US?

    • stairmaster

      Zero. According to the “Harmonized Tariff Schedule of the United States,” which is accessible here http://hts.usitc.gov/, the importation of “Monetary” gold bullion is free of any tariffs or duties.

  • Jma1787

    Simon:

    What could an American expect from US Customs upon arrival carrying a dozen or so one ounce gold Pandas?

  • http://justen.us Justen Robertson

    I was a little worried that you wouldn’t share tidbits like this anymore once you got your premium service started. Kudos and keep up the good work, even though I usually don’t act on these I take a great deal of pleasure in knowing that others will benefit from them. Esteem is as valuable a currency as gold, and you continue to rake it in, sir :)

    • A Fleury

      Could not have said it better :))

    • Dcrain99

      the information is not valid. you can buy cheaper in the US.

      • stairmaster

        Well, do please tell us how…or don’t you want to share….

      • Dcrain99

        See my other post below.

      • Markqss

        where is it cheaper?

  • LDK

    How do a person move gold coins after purchasing them in Hong Kong? I don’t think I’d want to ship them except a few at a time, and I don’t know the reporting requirements if they are in carry-on luggage and pass thru the screening process. Anyone have any info?

  • http://www.plinky.com/people/five23 j.j.

    central hong kong is awesome

    0.5% above spot, eh? nga m-sik tang!

    but i like your idea

    • stairmaster

      Prices for the bullion coins fluctuate all the time…both the spot price, and the premium. Even if you’ll rarely get 0.5%, you will still find that Hong Kong is hands down the cheapest place to buy these coins. And also a great place to sell them…the bid/ask spread being only HK$50 (US$6.41 approx)

  • Hedy4321

    It is very disappointing that you have not posted my comments

  • Mic Irish

    Good information but what about dealing with customs both in Hong Kong and the US. Carrying large sums of cash or dealing with multiple rolls of gold coins might cause some problems.

    • stairmaster

      Hong Kong customs won’t bat an eyelid. You won’t even notice they exist. There are no customs forms. Hong Kong is a free port. Very few things are restricted from importation or export…neither physical goods, nor financial instruments. The US is a different story, of course. I don’t have any personal experience dealing with this. But an associate I know has regularly carried gold bullion into the USA from Hong Kong in his hand luggage, declared it, and has had no issues with getting it through.

  • Skip777

    What a great nugget of information. Aren’t there limits on the amount of coins I can bring thru customs upon my return?

  • ralph

    how would you get back through customs with 100k of gold coins in hand?

    • http://twitter.com/Cisco_X1Concept Cisco

      You coukd store at BRINKS they have an branch in Hong Konh of course monthly charges apply but hey for the cash you safe :)

    • Bryan

      Often gold coins have official currency value. For example, Canadian gold coins are officially $50. If you enter Canada with them you can carry up to $10,000 face value worth.

  • $4329150

    Simon, I have to ask what takes you to Chile, the sleeper country of the entire Western hemisphere? I visited a year ago and as a educated student in economics and finance it was blindingly obvious Chile was not even in the same boat as the U.S. and the rest of the world despite their close relations in terms of trade with the international community. I would leave the U.S. in a heart beat to go work in finance in Chile. Just don’t really even know where to start.

    • Gene

       Just go. Sell your crap and go. You’ll meet people. Stuff will happen. It will eventually work out. It’s the people who spend their whole lives lining their ducks up in a row that end up never actually doing what they want to do. I wonder though if by “work in finance” you mean “get a job in finance”..why? If you are good then you can make money by creating a job for yourself in finance. If you’re not that good, then why would someone want to hire you? Get my meaning? Get good!

  • Diogo_world

    Where can we sell the gold coins for about 20% the spot price of gold? Because I looked in the web and I saw websites where we could by the same gold coins for the same price at Honk Kong without actually going there, this doesn´t seem to me a very good advice.

  • Atigunpass

    How would you get the gold pandas from HK to the US or UK?

    • Johnconnor42010

      According to one UK’s dealer’s website: “There is no custom/import duties or taxes on gold or gold investments in the UK. So you need to know if the UK has a BOC branch. NYC/BOC branch, open up branch. Carry $10k, plus the reminibi in BOC account. Buy gold in HK at BOC. Fly to UK dump at dealers then deposit cash into brannch at BOC/London.

  • Ted Herman

    Simon, how dangerous would it be to open an acct with BOC and buy bullion in an allocated, or other type acct, in HK. I can almost see/feel dancing red dots (lasers) on my forehead now. Just dreaming, I imagine.

  • Jeannegonzales

    Iam fairly new to reading all this financial information, Iam an average working class American and Iam wondering how does a person like me who hardly knows anything about buying gold or silver let alone stocks will be able to help save my family from this comming money crisis and the devaluation of the dollar.

    • stairmaster

      Sites like this are here doing their best to try and educate and help people just like you. Read all you can on the subject. This site is a good place to start. But there is a TON of information out there.

      • Ace428

        what other sites are available with the same mindset as Simons? any recommendations?

      • AR

        Peter MacFarlane @ The Q Wealth Report has some of the best info around. He and Simon run in the same circles.

    • Diogenes

      google for junk silver

  • ol’ crotchety

    what do we do with any gold coins when the idiots in DC decide to invoke section 9006 of the obama “care” act?

    • stairmaster

      Buy them overseas, AND store them there (or the bulk of your stash anyhow).

  • http://goldchat.blogspot.com/ Bron Suchecki

    I find this a little too good to be true considering production cost and freight etc. What was the “prevailing spot price of gold” based on?

    Many dealers play games with “cheap” premiums but then just load up the spot price. One way to clarify if games are being played is to ask what the dealers buyback price is if you were to immediately sell back.

  • http://twitter.com/Cisco_X1Concept Cisco

    I been calling Hang Seng bank china and they tell me they don’t sell the Panda coin in Hong Kong only the Maple Coin – the price for that is 11062 HK dollars or about 1422 US$
    Living in Malaysia I found your info on the gold prices in HK vry intersting and will consider flying there to buy some IF I can find a bank that sels it :)

    • Teik

      I read Kalantan, Malaysia has Muslim Dinars gold coin and sold over the counter.

      I am currently in Canada. But will be in Asia March April. I am also considering buying some gold coin myself. If there is any information you can share, Will be appreciated.

  • http://twitter.com/Cisco_X1Concept Cisco

    I been calling Hang Seng bank china and they tell me they don’t sell the Panda coin in Hong Kong only the Maple Coin – the price for that is 11062 HK dollars or about 1422 US$
    Living in Malaysia I found your info on the gold prices in HK vry intersting and will consider flying there to buy some IF I can find a bank that sels it :)

  • Ted

    Sorry, Hang Seng Bank no longer has gold Maples. You can get Australian Nuggets, though, at 6% over spot if you have an account. I wonder if Tim Staermose either bought the last Maples or perhaps miscalculated the premium.

  • EL

    I WENT ON THE WEB AND YOUR ARTICLE IS CLEARLY WRONG. AT A WEBSITE I FOUND THE PANDA GOLD 1 OZ COIN AND IT WAS SELLING 5% OVER SPOT. IN THE UK THEY WOULD SAY THAT YOUR ARTICLE IS RUBBISH…WHAT GIVES?

    The 2011 Panda gold coin from China is here. This is the 29th different design in this always-popular series of .999 gold coins, a series which in 1982 initiated the concept of a limited-edition gold bullion coin. Pandas are struck at the Shenzhen Guobao Mint in sizes of 1-ounce, half-ounce, quarter-ounce, tenth-ounce, and the tiny twentieth-ounce. Each coin is sealed at the mint individually in a flexible plastic holder. and we offer them still sealed as issued.

    Our minimum order is ten ounces. Prices are per coin, with quantity discounts shown.
    You can mix any type and size of bullion products. We pay the shipping.

    These prices are based upon the spot gold price of: $1,360.00

    Quantity prices > 10 50 100
    Chinese Panda One Ounce $ 1436.20 $ 1431.90 $ 1430.40
    Chinese Panda Half $ 741.20 $ 733.80 $ 726.40
    Chinese Panda Quarter $ 374.70 $ 371.70 $ 370.20
    Chinese Panda Tenth $ 156.40 $ 154.80 $ 153.30
    Chinese Panda Twentieth $ 91.80 $ 90.80 $ 90.10

    • simonblack

      Hello, this is Simon’s assistant. The report is accurate; Simon (or Tim, in this case) vets and gets information first-hand, not from third-party sites. Check your sources carefully; the web contains myriad inaccuracies.

      • R.

        I usually buy at VBCE (http://www.vbce.ca in Vancouver, BC). Their prices are 2.5% to 5% over spot. They don’t make any difference between the various typse of coins. Maple Leaf or Panda – the price is the same. Once, I wanted to buy a 1oz gold bar and since they only had coins, they gave me the Panda coin for the price of a bar.

  • http://isncoinsreviews.com David

    Excellent report on gold. I value your reasons for preferring the major gold coin mintages, instead of bulk bullion.

  • Snakehead

    Why did nobody ask what that gold had been made from?

    • Ggconoly

      Em…. Gold maybe.

  • Joshua

    I’m just gonna dig along the creek bed as the people of Zim. are doing for their gold – it’s finders keepers that way and good exercise as well 8-)

  • Bryan

    Will probably head to HK for the Chinese New Year festivities. Will pick up some iPads and maybe gold.

    Anyone know if banks sell silver Canadian coins there too?

  • Donna2558

    from: http://www.cbp.gov/xp/cgov/travel/vacation/kbyg/prohibited_restricted.xml#Gold

    Gold coins, medals and bullion, formerly prohibited, may be brought into the United States. However, under regulations administered by the Office of Foreign Assets Control, such items originating in or brought from Cuba, Iran, Burma (Myanmar) and most of Sudan are prohibited entry. Copies of gold coins are prohibited if not properly marked by country of issuance

  • Donna2558

    The declaration of the value of the coins is the question – numismatic value or gold content value? I guess if you stay under $10,000 threshhold, there’s no question about the latter peg. Would love to hear from someone who has done this.

  • At44

    The problem is that in international flights they limit the money you can carry to 10.000 dollars and even if government does not consider gold money the probability is they will ask for the value of the coins and treat them as money and limit you.
    The coins do appear visibly in the scanner. In your pockets they may not sound the alarm

    • Helpingseniors

      Customs is only concerned with face value of coins not intrinsic value. $25 gold eagle is declared as $25 not the value of the coin. That is the law!

  • RCS

    I’d like to see the contact information for at least two HK gold dealers or banks that will sell Maple Leafs for 0.5% over spot. The name of a bank contact, instead of just the bank’s name.

  • Hedy

    First the claims of how much you can save are overstated in this article but if you can get coins for only 1% over the price of bullion then that is a great price.

    I also raised some specific questions about getting through both TSA and Customs and about custom duties. I am happy to report that my questions were answered in a forum on the Sovereign Confidental website.

  • John Spiers

    Folks,

    The rule is you must declare OVER $10,000 worth of liquid assets, cash, gold coins, bearer bonds, etc. You may bring in any amount you like, no restrictions, above 10K, if you declare it. So bring in on trillion of anything, just declare it.

    There are no taxes on any of that, so no problem there.

    TSA is concerned with security,and they may not question you regarding money. Don’t worry about them

    Above $10k, you may very well be asked by Customs, to whom you are obliged to report, to explain yourself, a reply is optional, but to refuse, although within you rights, is to ask for scrutiny.

    The simplest thing to do is simply explain when you leave USA “I am taking $50,000 to hong kong to get gold coins cheap” on your outbound declaration. Keep a copy in your wallet. And then on your return, explain on the inbound report “I bought $50,000 worth of gold coins cheap.” Where did you get the money for the gold coins? You can say to customs “get a #^&$!*g warrant…” or you can say “Savings, from my job as a carpenter.” Legally, it is none of USCustoms business, but what do you care if they have a report you have $50K in gold coins? That they will seize it some day? Risible!

    As someone working import export for 35 years, I am always perplexed at how people work so hard to circumvent the rules, when the rules are really not onerous. Just give them their form, tell them the truth, they get bored and go onto something more interesting.

    While you are all shaking in your boots, trembling at how powerful the leviathan is, countless others are hauling gold coins across the border legally and with no real hassle.

    O! And by the way, according the the gold seizure act of 1933, we international traders are exempt from gold being seized, since we need it for settling int’l accounts. Read my book on how to become and importer…
    http://www.amazon.com/exec/obidos/ASIN/0979551501/johnspiers-20
    John Spiers
    http://www.johnspiers.com

    • Pearls

      Mr. Spiers, You book was last published in 2001. @ $25 for an outdated information source, it is NOT a buy. Laws and technology have come a long way since the publication of this rag. Sorry, update it and it may be worth a shot otherwise folks, look elsewhere.

      • John Spiers

        2001 is the copyright year. It is reprinted every year. It has sold consistently since then, by buyers who in turn usually give it 5 star ratings on Amazon. Neither laws nor technology have made much difference in how to build a business, the topic of the book. Laws and technology are are farmed out, the book is for people who want to develop a business.

    • Dwmontini

      How about we just slap it on our American Express GOLD Card ?????

    • farang

      Sanity.

  • Peter Leg

    In HK i think you can only buy gold at the head office of the banks on HK island I don’t think all banks hold gold. At one stage when gold was hard to come by you could only buy one gold coin at a time i don’t think that still applies but there might be restrictions. also you might need to be a customer of the bank.

  • Peter Leg

    If the new pandas are here next week i’m going to buy one at the hang seng bank as i still have an account with them so i’ll let you know what happens. If you are buying gold in HK stick to the Bank of China in the long run it will be cheaper. Also be very wary of dealing with Hang Seng bank i was a customer of theirs for 15 years and they screwed me for $60000 in one of their insurance saving scams.

  • Tim

    Is the U.S. government going to let me back in with gold coins?

    • Dwmontini

      Can’t we just mail them ???

    • farang

      YES TIM. Gold Coins are LEGAL TENDER.

  • Jerky

    with the ravenous TSA breathing down your neck and navel and..i hope you have arse luck getting in a stash of gold coins.

    Dont risk it my friend. These are faustian times.

  • nekko13

    If you were in thailand, just buy some gold jewelery, thai jewelery is almost pure gold, they sell it by the weight, wear it back,

    remember the tsa comming back and the cavity searches,

    • Nootriam

      I like your idea about buying gold in thailand, but if you resale them in the U.S you lose about 40% of the value. I’ve been buying baht ingots and there treated like gold coins in the resale market. you get almost 100% of the spot price.

      • http://www.facebook.com/john.cox.7798 John Cox

        Where is the best place in Bangkok to buy gold coins or small ingots?

    • farang

      Thai Baht, which is what you are talking about, is same as a US gold coin: 22K.

      TSA can look up your backside: if they find less than US $10,000 they are out of luck…so just store it in your carry-on: it’s more comfortable. And no one is going to say a thing.

  • Todd Thurston

    this is crazy. why would someone fly to China to buy gold coins. I thought the article was going to be a practical option to buy gold coins. this was a waste of time.

    • farang

      Some people are actually *tourists* in Hong Kong Todd. You may have heard.

      If you could pick up $9999 worth of Pandas and resell them after they appreciate and pay for your holiday trip, why wouldn’t anyone sane want to do that???

  • Bigiinsc

    Why don’t you go fetch us some coins?

  • Fritz5000

    don’t get too excited though it may well occur that you will only be able to get a few pieces of coins at a particular moment u arrive at the counter of the bank as it had happened to me on several occasions ….like only 5 pcs. Krueger available maple leaf sold out etc. ….

  • Tak961

    i have a question. if one were to visit hong kong and do this, what are the legal implications? what does for instance hong kong customs allow in personally exporting coins to for instance the u.s., and what would u.s. customs allow in importing said coins. it is unclear to me what countries will allow. most countries make one declare money being brought in to the country. recently i visited russia and they state one cannot import more than $1500 currency into the country. how wouild one find this out? is there any special paperwork required by for instance the u.s. to carry in precious metals? tk

    • farang

      Tak961: They are LEGAL TENDER. There are no “legal implications” unless you try to sneak through over US $10,000 face value undeclared.

      You are not “importing said coins”…you are carrying money. Same as your paper dollar…do you declare that to Customs????

  • Drscorpio74

    Do not buy Pandas if you have the choice. I live in Hong Kong and buy gold coins primarily from Hang Seng whom i also bank with. At the BOC they will not buy back coins not of the current year due to counterfeiting problems. They tell you when you buy them, hard to believe this info was not passed on. I always hold out for Canuck mapleleafs or Aussie “Kangaroos” .9999 and not widely duplicated. Never thought about posting coins but i would consider it.

    • http://www.animalsdinosaursandbugs.com/The-Future.htm Peter Legrove

      hi I’m also in HK/GZ Do you know where to buy silver pandas in HK I usually buy them on the mainland but the premium is very high.
      I heard about the fake coins too, no use buying them if you can’t sell them.

    • farang

      Real Pandas are in sealed plastic, in a red box, and I would strongly suspect it is very difficult to counterfeit the quality of a real Panda.

      Pandas are also “.9999″ same as a Kangaroo: why would they be less likely to be counterfeited than a Panda?

      Buy from a reputable dealer, or bank, and have no worries.

      Maple Leafs, Kangaroos, Pandas, The “Austrian Phils” all same same.

      “At the BOC they will not buy back coins not of the current year due to counterfeiting problems.”

      You are stating the BOC will sell you a coin this year, but won’t buy it back next year???

      Nonsense.

  • Texasjim37

    This is a very interesting article … You mentioned “This is dirt-cheap… or as they say here in Chile, ‘precio de huevos’, and it certainly presents an interesting arbitrage opportunity.” my question in this situation what do you mean “an interesting arbitrage opportunity”? Thank you

    • jdm

      arbitrage means risk free profit. He is implying you can buy in another location for less than the sell price in American market. It seems this may not be credible.

  • Ccarlson45

    panda’s may be great but going to china just for them would put a cost on them that would take a long time to recover. I’ll stick with kueranns

  • Nootriam

    I like this idea. I frequently travel to Thailand, and while there buy several gold ingots.. You pay almost nothing in premium. Then sell them in the U.S. The only caveat though is the dollar baht exchange rate.

  • MIKE

    I look around the web and found nothing anywhere near the buy price this claims. Makes no sense to do this to buy then resell.

  • http://FreedomYetRings.blogspot.com uvbogden

    If the Bank of China is selling gold coins cheaply in Hong Kong, wouldn’t they sell for the same price and similar premium at their U.S. branches? Especially if you had an account with them? Even if the premium were slightly higher here, it might still be cost effective to purchase gold coins through the Bank of China in the U.S. and avoid travel expenses and inconvenience, and any complications transporting the coins into your country of origin.

  • Goulter

    This is a foolish idea,it is just travel promotion,I suggest you save that fare for your kids.

  • Smith

    Baloney! I can obtain gold and sell it and make much more money. Besides, if the economy fails, a can of tuna will be worth more to anyone than a ton of gold. You can’t eat gold, but a can of tuna will help you live a few more days.

    • :)coins

      Good point!!

      • Mynumberonecasino

        Food is the answer

  • John Fowler

    I don’t think anyone can do that. When you fly overseas you have to declare things, like money gold valuables like that, and usually there is a limit. I went to Japan and Vietnam just 2 years ago and there is a limit on cash and gold. cash was 10,000 usd. But I forgot how much gold was, since I didn’t have too much.

    • farang

      John. Think. ANYONE CAN DO THAT. Yes, you have to declare OVER US $10,000.

      Gold Pandas, or Canadian Maple Leafs, or US Eagles, are MONEY. Legal Tender. They’re not gold jewelry, or gold bars.

      So, like YOU SAID, you only have to declare them (legal tender coins) if they EXCEED US $10,000.

      C’mon, use your noodle, please. Legal tender gold coins don’t have to be declared, same as your US Federal Reserve note in your wallet…unless it exceeds US $10,000.

  • Den

    OK, so I fly to HK and buy my coins, which I’d love to do and then what do I do in terms of transportation, security and storage? I’m ready to go and just would like some ideas on next step… Thks

  • http://www.animalsdinosaursandbugs.com/The-Future.htm Peter Legrove

    I was in the Hang Seng Bank in HK yesterday and they do not sell Pandas. They were selling Australian Nuggets for HK$11000 which is pretty good the spot price was around $HK10400. They sell lots of gold coins from around the world but they don’t sell Pandas, I don’t know why. I didn’t go to the Bank of China. Right now in HK it is Spring Festival time so if you love crowds this is the place to be.

    • Mary Halsey

      how do you get coins puchased in HK back to he U.S.?

      • Wayne

        ship it back to the US then get on the plane.

      • farang

        Unless you have more than US $10,000 face value (then you’d have to declare them, but still could carry them, but face a hassle answering questions), I’d suggest carrying them yourself. Why would you ship them, when there are no restrictions to carrying them?

        Look on your Custom’s form: you only have to declare over US $10,000 carried on your person.

      • farang

        I bought some at a coin shop in Wan Chai, maybe Wan Chai Rd, in 2008, and put them in my carry-on and carried them back: no one said a word: they are currency, legal tender, and unless you have more than US $10,000 face value, you don’t have to declare a thing.

        It is not rocket science…it’s “money” and btw, I paid a premium for my Pandas…and they came in a nice red box with coins sealed in plastic.

        Now up @ 30% over the purchase price, with premium, even with the drop since September of @ $350/oz.

  • Mary Halsey

    Go to Hong Kong –buy gold coins –how do you get the coins
    back to the U.S.?

    • http://www.animalsdinosaursandbugs.com/The-Future.htm Peter Legrove

      Put the coins in the coin pocket in your wallet and just put your wallet in the basket so it goes through the x ray machine.
      Anyone reading your wallet will just see a bunch of coins. I hope. If you do buy coins in HK keep them on your person not in a bag. I always keep the coins in my pocket in my shirt or the inside pocket of my jacket. I never keep them in my wallet. I was in KFC the other day and a bunch of theives ran off with someone’s bag. Don’t buy Chinese Pandas as there is a problem with fakes.

      • wolfusvi

        Now three years later, is there an update to Peter’s recommendation? What’s Plan B if your ” I hope ” doesn’t pan out ? What happens in the real world if they do detect gold coins ?

  • Richard Gorka

    You may be correct in assessing the panda coins as a good buy. However, by recommending their purchase, you are helping the Red Chinese communist government. I strongly disagree with any of your recommendations for making a profit investing with or in any commodity produced by a government that hates America and is dedicated to our destruction. Communism is diametrically opposed to the American way of life and is an enemy of mankind. What are you thinking?

    • lovestupidamerican

      The more stupid american the better, they have no clue what is happening in the world what so ever , hahahahaha. America going down you dumb ass

    • Jamie

      i do believe  the time for communist  bashing is over two economies that are dependent upon each other  and of course you have no idea what Communism is or you would not say such a stupid out dated remark

    • openYourEyes

      richard,

      do you have any idea how much USA economically relies on the ‘red communist enemy’ called china? last i remembered, the chinese love wasteful americans buying and rebuying their cheap products, so i’m not sure why the ‘enemy’ would want your destruction if your destruction impacted them negatively.

    • farang

      “What are you thinking?”

      I’m thinking you’re an idiot. Did China invade Iraq under false pretenses, occupy it for 9 years and murder over 1 million Iraqi civilians, then say “oops” a few weeks ago and say “bye-bye”? Did China invade and occupy Afghanistan? Are they threatening Iran that isn’t threatening anyone?

      “The American way of life” went bye-bye 40 years ago…where were you? Be careful, now they can arrest, detain and imprison you in the USofA without charges or trial or access to an attorney: American way of life that, Gorka. 

      “However, by recommending their purchase, you are helping the Red Chinese communist government. I strongly disagree with any of your recommendations for making a profit investing with or in any commodity produced by a government that hates America and is dedicated to our destruction.”
      So Walmart shoppers: Unamerican in your view, nitwit? Where do you think all those cheap goods are made, New York City?

    • Stonewall Ray

      the u s government is our worst enemy

  • Batman876

    when you leave HK ane enter the USA the TSA will call you a threat beat you up charge you with many crimes and the goverment will keep your gold thats america

    • Aperson0101

      Could you possibly resend your comment. The first one made no sense at all and this time take your time and watch your spelling if you can.

  • Hgmj

    just got back- made 20 grand one trip bought 140 gold eagles

    • jdm

      where did you sell them in the united states? It seems you need to be a reputable dealer to unload gold coins and have people not believe you are scamming.

  • $$$

    First of all most of you have no idea. The “face value” is only $50 so no worries. I travel all over asia at least 5 times a year and customs will not do anything about them look at all the “face values”. And to the guy saying that’s our “enimies” I BET YOU I can walk in your house and see half of everything you buy is made in china. The price of gold is the price of gold it does’nt matter where you buy them gold is a world market so if you can save a few hundred $ then get your money

  • http://www.physicalgold.co.uk/krugerrand krugerrand coins

    Gold bar is the cheapest way to buy gold.But when we sell bar then  dealer only buy them in less.So folks can not get enough return on this.So either gold coin is better option to invest in gold or not?

  • Wenvancouwen

    OK, it’s July 2, 2011. I’m in Hong Kong. Hang Seng bank sells only Kangaroos at present.  Price is HK$12120. Spot price on Kitco is $HK11567.20.  So the mark up over spot is 4.8%.

    Checked Vancouver Currency and Bullion Exchange online.  Their cheapest 1 oz bullion coin is the Maple Leaf, of course.  It costs CAD$1478.00.  Kitco spot in loonies is $1432.69.  Mark up at VCBE for the 1 oz Maple Leaf is 3.2%.

    The Canadian figures would have to be confirmed in person, but I think the indication is that that the cheapest gold bullion coins are no longer found in Hong Kong.

    Please add more info or any corrections to my observations.
    Cheers. Wen

  • Saqib

    I want only to know that where is available the cheapest gold of the world?

  • PBD

    Today is Feb 20, 2012. Just came back from Bank of China branch in the BoC buildign in HK. Canadian Maple Leaf – 1oz sells for HKD 14,069. Kitco for HKD 14,316. Using Bloomberg’s spot rate, that results in 4.5% premium over spot. They also sell Pandas, but apparently only commemorative 2012 coins. Not interested in those, since the only value I care about is the gold.

  • Da Buda Masta

     A $50 Canadian Maple Leave coin is a one troy ounce 0.999 pure gold. $10,000 face value would be 200 coins.  Assuming the spot price of gold is 1650 an ounce, You are carrying 200 ounces of gold coins with $50 face value, is worth $330,000U.S.  200 troy ounces translate to 16.666 troy pounds or 6.220 kilogram in total weight. Imagine somewhat heavier than a a 5 kg barbell weight. You will need a strong attache case or a good strong heavy backpack.

  • http://www.PeteSisco.com/ Pete Sisco

    Just wanted to say thanks for this post. It pays for my SMC subscription. 

  • Alexmills76

    Thanks for this post. I went to the BOC Tower in Central district today and got a 1 oz maple leaf, and the teller more or less said it depends on what is in stock.

    Does anyone know if hang seng still has kruggerrands?

  • sarahjane23

    Hi, I’m in the UK and want to buy Gold Sovereigns. Is the Royal Mint http://www.royalmint.com a good place to buy direct from? Any experience buying gold coins from them? Was thinking of one of there collector coins.

  • http://www.facebook.com/john.cox.7798 John Cox

    I am going to Singapore in 2 weeks. Can I buy the Pandas at the banks there? Where is the best place to buy gold in Singapore?

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