buying gold and PGMs outside of Cambodia

Whether you're a working stiff or a business owner yourself, this is the place to discuss all aspects of financing your drinking habit ;-)

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Georgina
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buying gold and PGMs outside of Cambodia

Post by Georgina »

Stackers of PNH!

This is a separate tgread to my post on buying gold IN Southeast Asia. Please keep content separate. Also, my purpose is not to start a debate on the prudence of hard assets. Nor timing or precious metals technical analysis etc. This thread is about HOW and WHERE not *why and when*.

How do you arrange purchases of bullion while you are here?

I havevbeen havingboroblems for months trying to set up an account in order to purchase bullion bars and coins. I have contacted multiple companies and the rules are so strict (or they think I am a scammer). I tell them straight - my citizenship, my location, when I will be back in their jurisdiction, my various bank cards in Asia and the west (both debit and credit), who could accept delivery for me and where. I haven't even bothered with comparing prices between the various companies in Australia, Canada, Singapoe, USA etc. I mean, first *can we do business?*

Singaporean company insisted on setting up a prepayment system with my bank there. In person. Many US companies only ship to USA and require both a US bank card and a US address. Of course I have trusted friends in the USA, but then my billing address won't match. Canadian bullion companies require bank wires or cheques.

Why is buying a product so slow and comp.icated? I speculate it is because...

1. Government interference
2. Fraud prevention
3. Low markup on bullion
4. Constantly changing prices

I asked an aquaintance who is in the metals business and he said part of the readon is there is sooo much paperwork involved. For exampke, if he exports from Canada to the USA some powdered metal X, his company has to fill out multiple declarations. Is it sourced from conflict zones? What safery regulations must be followed in transport? I am all for coomon sense rules. But this is ridiculous amount of red tape - reminds me of the EPA inspector scene from Ghostbusters or trying to open a foreign bank account by mailn(easy in 1981 - send photocopy of passport and opening amount of $50).

How to simplify?

I just want to buy some gold, not change the world.
"I am a lesbian trapped inside a man's body. Girls, help me escape!"
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