Author Topic: gold coins  (Read 3274 times)

Offline oldmacd2

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gold coins
« on: June 25, 2008, 05:45:13 AM »
I plan on moving to mindanao and with the dollar the way it is lately I would like to use or exchange gold coins that I have for pesos. Does anyone have experience in doing this. Thanks in advance for your advice. Kevin
 

Offline Gray Wolf

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Re: gold coins
« Reply #1 on: June 25, 2008, 06:35:35 AM »
Kevin,

I\'ll give you a dollar apiece for them.† It\'s a better deal than you\'ll get in Mindanao and I won\'t rob you, I promise.†  ;D
Louisville, KY USA

Offline Gray Wolf

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Re: gold coins
« Reply #2 on: June 25, 2008, 08:29:12 AM »
Sorry Kevin, I just had to say that.†  ;D

 Seriously, I think a better question is can you legally bring gold into the RP?† I\'m not absolutely certain you can legally take gold from the US into the RP.† And if so, what will RP customs have to say about it?† What about US Customs?† I would research those questions first.†

Let us know what you find out.

Louisville, KY USA

Offline oldmacd2

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Re: gold coins
« Reply #3 on: June 25, 2008, 08:31:57 AM »
Graywolf, while I\'m sure there are plenty of people willing to take advantage of me, it\'s hard to believe that there are no reputable dealers in gold coins, even in mindanao.
But, seeing how you like jokes. Why, when a doctor writes a presciption you can\'t read what it says but the pharmacist can? Answer, the note actually says, I\'ve got my money now you get yours.
Talk to ya later. Kevin

Offline oldmacd2

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Re: gold coins
« Reply #4 on: June 25, 2008, 08:44:35 AM »
Graywolf, your right I didn\'t think about customs, but the coins are of the type that aren\'t required to be reported, unlike bullion. So it comes down to how to get in country. Thanks for the input. Kevin

Offline Gray Wolf

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Re: gold coins
« Reply #5 on: June 25, 2008, 09:46:03 AM »
Graywolf, your right I didn\'t think about customs, but the coins are of the type that aren\'t required to be reported, unlike bullion. So it comes down to how to get in country. Thanks for the input. Kevin

Kevin,

One other consideration is that the RP is a third world country, and while there may be a coin dealer or two, I\'m not sure you would get the true value of the coins.† Not to say that they would rip you off, but perhaps they might not be as astute as a US coin dealer.† You should have them assessed by a reputable coin dealer in the US before even considering transporting them around the planet to see what they would fetch.†

You didn\'t say where in Mindanao you were going to relocate.† Mindanao is a very large island with a diverse population.† Perhaps you could narrow our search down to a large city or two.

Of course, the biggest concern is how to get them into the RP without being separated from them in the airport or the streets of the Philippines.†

Good luck, buddy!†
Louisville, KY USA

Offline oldmacd2

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Re: gold coins
« Reply #6 on: June 25, 2008, 11:05:25 PM »
Jack, thanks again for your input. I\'m just concerned about how stable the dollar is these days ans want something that is inflation proof.
I still have plenty of time to think this through, as we haven\'t sold the house here in Las Vegas yet. Once that happens Jane and I will be moving to Iponan, a small barrio just west of Cagayan de Oro [the place of her family].
I look forward to your future help, as I\'m sure I\'ll have lots more questions about other topics.
Thanks again, Kevin.

Online Steve & Myrlita

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Re: gold coins
« Reply #7 on: June 25, 2008, 11:13:04 PM »
Graywolf, while I\'m sure there are plenty of people willing to take advantage of me, it\'s hard to believe that there are no reputable dealers in gold coins, even in mindanao.
But, seeing how you like jokes. Why, when a doctor writes a presciption you can\'t read what it says but the pharmacist can? Answer, the note actually says, I\'ve got my money now you get yours.
Talk to ya later. Kevin
Hehehe. How true. However, just for an FYI, the scripts are written in Latin.
Thank you...God Bless...
Bro Steve & Sis Myrlita
Bacolod City, PH
*** RIP MY FRIEND LEE ***
*** RIP DON H. ***

Offline Manila Cockney

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Re: gold coins
« Reply #8 on: June 26, 2008, 11:11:44 AM »
Jack, thanks again for your input. I\'m just concerned about how stable the dollar is these days ans want something that is inflation proof.
I still have plenty of time to think this through, as we haven\'t sold the house here in Las Vegas yet. Once that happens Jane and I will be moving to Iponan, a small barrio just west of Cagayan de Oro [the place of her family].
I look forward to your future help, as I\'m sure I\'ll have lots more questions about other topics.
Thanks again, Kevin.


If you want to invest in gold as a hedge against inflation or falling dollar just by a gold etf such as the Comex Gold Tust (IAU) on the stock market  http://www.ishares.com/product_info/fund/overview/IAU.htm

This way it saves having to worry about the physical custody of it, customs in Philippoines etc and you always get the market price when buying or selling.  If you are moving to Philippines the falling US dollar on global markets is not the major concern. The main concern is the peso to dollar rate and inflation rate of Philippines.

 


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