Gold

K

kg4jxt

New member
Mar 28, 2014
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A while back, a friend of mine was telling me I should invest in gold in case Western Civilization collapses. I do not think this is very likely, but sometimes I may harbor a slight fear for this little part of it. Just checking around, I found that there are quite a few guys on the streets of Santiago buying gold, but I did not find anyone who seemed to know where one might look for gold coins. Of course, there are gold coin vendors all over the USA. But this brings up the issue of the Aduana - what is the "value" of a $20 gold piece? Under what circumstances is it necessary to declare gold in one's luggage when entering the country? I know there is a $10,000 dollar declaration limit. Is a one-ounce $20 gold piece from the USA to be considered by its face value of $20 or its boullion value of around $1300? Since the price of gold fluctuates daily, what is the rate an Aduana agent would use for such a determination?




Also, a while back I wrote to Barrick Gold and asked; do they sell gold at the mine? no reply. Just curious - I mean, "asking for a friend"!
 
W

westcan

Member
Sep 10, 2008
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That type of mine produces what are called gold-silver dore bars, a type of gold-silver alloy. Those are shipped to a refinery or refineries and refined to pure gold and silver. (or as pure as you can get)
They do not sell gold at the mine.
 
K

kg4jxt

New member
Mar 28, 2014
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just a follow-up; three inquiries to the Aduana via their webpage (reply in 24 hours!) have all been ignored. The Dominican Neumismatic Society has no idea, and nobody here seems to ever have thought of bringing a gold coin through an airport. Weird methinks, but that is the situation: nobody knows if gold coins will pass airport inspection. I guess I will not try that experiment.
 
C

ctrob

Silver
Nov 9, 2006
5,591
781
113
You're forced to let it go thru on the belt because going thru the machine with you will set off their alarm of course. I've walked thru the machine holding a small pouch with a wad of cash. But not being metallic nobody flinched.

I wouldn't count on them considering it face value. That could lead to a problem if you're over the 10 grand limit when caught. I would just give a shot in your carry on. Maybe start out with some of those dime sized coins. Those will be easier to move anyways when the zombie apocalypse hits.

Another thing, I'd be careful about talking to anyone on the Dom end about what you want to do. Unless you're being super anonymous with your email, you're exposing yourself.
 
melphis

melphis

Living my Dream
Apr 18, 2013
3,496
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If you go with the coin size gold put it in you carry on bag with a bunch of other coins. Being Canadian we use 1 and 2 dollar coins so nobody even looks at whats in a change bin. I normally have 10 to 15 dollars worth of coins in my computer bag at any given time.
 
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