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Buying gold, and shipping through airport ?

  • 09-01-2012 2:30pm
    #1
    stackerman
    Registered Users, Registered Users 2 Posts: 1,241 ✭✭✭


    I've a buddy who has bought physical gold a while back, and currently has it stored in Switzerland (goldcore). We were chatting and trying to figure out if he could fly over and pick it up, then just come home with same. There is a cash limit of 10k, which he would be over, in terms of what it cost him. But the printed worth, at $50 each (1oz Maples) would be much less.
    What do you all think ? I think there would be no problem, but easy for me to say ;)


Comments

  • #2
    stackerman
    Registered Users, Registered Users 2 Posts: 1,241 ✭✭✭stackerman


    Well, just to let those of you who are interested in the answer to the above.

    He picked up his physical and brought it home on the plane. Got stopped in Zurich airport, at the scanners, and was let on his way once they saw what it was. Coin, Coin ? Is what the kept asking, and they were happy when that is what it was. No problem other then the questions, and a stiff drink saw him right ;)

    Funny thing is, that a no. of phone calls were made before his trip, to customs and a straight answer was hard to come by. Although it is clear that there is no VAT on gold coins (if for investment), but there is on silver. The problem seems to be the fact that the coins ARE currency, so there seems to be little they can do. Bars, I would think, may be a different story as not stamped as currency.

    Please, no smart comments about the pros and cons of gold. I'm just posting, because I know that a lot of people would like to know the answer to the question. Please also note the bold above, it seems to be a bit of a grey area, but this guy sailed through without a problem.


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