[aldrichdb]

I plan on selling my 10 grams gold bar when i returned this august, can anyone help me where can i sell it? Is it illegal to bring 1-10grams gold bar ? Wanna try it so when i go back to KSA would only buy gold bars

[Sheridzma]

I plan on selling my 10 grams gold bar when i returned this august, can anyone help me where can i sell it? Is it illegal to bring 1-10grams gold bar ? Wanna try it so when i go back to KSA would only buy gold bars

Bangko Sentral ng Pilipinas po buys gold naman..just contact their office for details.  yung 10 grams ho ninyo, gold bar na ho ba to? try the BSP nalang para atleast sigurado ho kayo.  if you wanna sell it online naman ho you can try that one too. MIBD can buy naman ur gold.

[aldrichdb]

Can I know what's MIBD? Gold bar na may naka engrave tayer 10 grams swiss gold product 999.9

[Sheridzma]

Can I know what's MIBD? Gold bar na may naka engrave tayer 10 grams swiss gold product 999.9

MIBD stands for Marigold Bullion International Dealers Limited.  It is a hongkong-based  bullion company that is an accredited refiner, and a recognized member of the bullion group of the CGSE (Chinese Gold and Silver Exchanges Society), the oldest precious metals exchange and one of the most recognized exchanges in the world.

if you are willing to sell them,  check out this webstite - www.mibd-gold.com/en-us/.

the website will give you its daily buying price for gold coz it changes according to am and pm price fixing.

You can set up an appointment with the MIBD.  However, you would have to bring your gold to the company in Hong Kong in order to sell it.  So, if you are in abroad right now and plans to come back to the Philippines, you can drop by Hong Kong and see the company for yourself.  Then if you will go back to your work country, you can simply buy gold at the website of MIBD itself.

If you had bought your gold online with the MIBD, you wouldn't have a problem selling it coz you can sell it instantly in the website according to the price you want.


I sent you a pm for more information in gold selling sir.  Kindly check your inbox. 

[hedgehog]

I plan on selling my 10 grams gold bar when i returned this august, can anyone help me where can i sell it? Is it illegal to bring 1-10grams gold bar ? Wanna try it so when i go back to KSA would only buy gold bars

My perception with these online traders is that they buy your gold below spot price so just make sure di ka lugi sa 10gm gold bar mo when you sell it. Also take into account the premium you paid when you bought that gold bar in KSA. I don't know if there are traders interested in buying your gold at spot price though. Kung August ka pa uuwi, please note that gold prices are going down! Why not just sell back your bar to where you got it in KSA para wala kang hassle sa customs dito?

[Sheridzma]

My perception with these online traders is that they buy your gold below spot price so just make sure di ka lugi sa 10gm gold bar mo when you sell it. Also take into account the premium you paid when you bought that gold bar in KSA. I don't know if there are traders interested in buying your gold at spot price though. Kung August ka pa uuwi, please note that gold prices are going down! Why not just sell back your bar to where you got it in KSA para wala kang hassle sa customs dito?

true. that could be done coz taking gold bars in and out of country usually subjects to custom duties and other fees.  plus, there is also a matter of security that you have to consider.  And sir hedgehog is correct in stating that now is not the best time to sell your gold coz currently the gold price is descending.

[hedgehog]

true. that could be done coz taking gold bars in and out of country usually subjects to custom duties and other fees.  plus, there is also a matter of security that you have to consider.  And sir hedgehog is correct in stating that now is not the best time to sell your gold coz currently the gold price is descending.

Not only that, if you are a very consenscious tax-paying Filipino citizen like we all are 
There are hefty taxes you have to pay should you decide to sell to BSP or to a trader.
35% if I'm not mistaken. You may want to wait for the gold price to go up again.

[Sheridzma]

Not only that, if you are a very consenscious tax-paying Filipino citizen like we all are 
There are hefty taxes you have to pay should you decide to sell to BSP or to a trader.
35% if I'm not mistaken. You may want to wait for the gold price to go up again.

that statement must be qualified. You see if you plan to sell your gold to BSP there are indeed taxes that you have to consider so again, if added to your expenses, that ought to be deducted to your gross profit.  If you plan to sell it to a bullion dealear, like for example, the MIBD, there are no taxes that would be charged to you.  Hong Kong is tax-free country when it comes to buying of gold so atleast you are assured that malaki-laki ang magiging kita mo.  However, you may have to pay some fees in the custom if you bring that gold out of KSA.  There are expenses that would have to be considered.

and since the market offers a hazy trend for the gold price, you might want to keep you gold for a while.  you may never know when it will go up again and you may miss the opportunity for a lump sum profit.

[hedgehog]

that statement must be qualified. You see if you plan to sell your gold to BSP there are indeed taxes that you have to consider so again, if added to your expenses, that ought to be deducted to your gross profit.  If you plan to sell it to a bullion dealear, like for example, the MIBD, there are no taxes that would be charged to you.  Hong Kong is tax-free country when it comes to buying of gold so atleast you are assured that malaki-laki ang magiging kita mo.  However, you may have to pay some fees in the custom if you bring that gold out of KSA.  There are expenses that would have to be considered.

and since the market offers a hazy trend for the gold price, you might want to keep you gold for a while.  you may never know when it will go up again and you may miss the opportunity for a lump sum profit.

Sir Sheridzma,
With HK being a tax-free port wala po bang babayaran na customs ang mg OFW coming from the Middle East or any country? If not, kailangan pa rin po ba i-declare ang gold mo pagpasok mo sa HK with the intent of selling gold to MIBD? Does the seller have to present the certificate or receipt he got from the gold souk or wherever he got his gold? Or pwede na po yung assay card that comes with it?

[jtdc]

so this means if i have some gold like 20 or 50 grams madedetect sa airport yun inside my bag and i will be charged for it?

then pag ibebenta sa BSP tax, or kelangan pa pumunta sa HK (magbabayad pako ng airfare at accommodation)... whatever option, is lossy?

what is the point if so???

[aldrichdb]

i thought a 10 gram gold bar would be much of a problem in customs,  it's not even  worth 1,000 US dollars. But i appreciate for sir hegdehog and sir Sheridzma for their advice although i feel bad bout buying gold and the prices is going down should have bought jewelries instead  =)

[hedgehog]

so this means if i have some gold like 20 or 50 grams madedetect sa airport yun inside my bag and i will be charged for it?

then pag ibebenta sa BSP tax, or kelangan pa pumunta sa HK (magbabayad pako ng airfare at accommodation)... whatever option, is lossy?

what is the point if so???

Depends on how you do the math. Actually if you bought your gold 5 years ago before the big rally you would have a 150% return even at today's prices. If you invested say 1 kg (whew!) you would reap a handsome profit even with all the taxes and duties (or airfare). There's the blackmarket too but it's a both buyer and seller beware thing too. I do have some qualms about bringing gold bars across borders maybe Sir Sheridzma or some pinoy goldbug can shed light on international laws or customs regarding this.

i thought a 10 gram gold bar would be much of a problem in customs,  it's not even  worth 1,000 US dollars. But i appreciate for sir hegdehog and sir Sheridzma for their advice although i feel bad bout buying gold and the prices is going down should have bought jewelries instead  =)

Personally I don't treat jewelries as investment. Dito sa pnas, the pawnshops don't weigh your gold jewelry kung isasangla mo. They quote around 60% of it's value so they can make a profit. Sa mga gold souks sa Dubai they weigh your gold jewelry when you buy or sell. So what you get from your jewelry is it's weight in gold mor or less. 10gms is not bad if you hold on to it until the gold prices come about.

[happzz]

For me, its okey but i find it risky rather than having the stock certificate of the holdings....

[saggi]

A Germany based company launched Gold to Go, making it way easier for gold investors to shop for gold - as easy as buying a candy bar from a vending machine. Here's how it works http://worldsluxurious.blogspot.com/2012/07/gold-to-go-easiest-way-to-buy-gold.html

For those working n UAE here, you might have seen this sparkling piece of machine. Any insight?

[bizmen]

for investment don't buy in bending machine Gold to go, their prices are to high dika pwd mag bargain ng prices. better sa Gold Souq ka mag canvass i prepare sa Dubai po mas accurate and real time prices nila. but if u want better craftsmanship buy from Gold to go tiis ka lng sa mataas ng prices.

for best investment buy bar type, coins, TT (ten tola) , taga AUh i'm buying TT in Al Jazeera Hamdan St. mas okay prices nila at kakulitan kona din sila compare sa Madinat Zayed.

decided not to bring some TT sa pinas baka maharang pa sa custom iwan kona lng hehehe

gold luck sa mga physical buyers.

A Germany based company launched Gold to Go, making it way easier for gold investors to shop for gold - as easy as buying a candy bar from a vending machine. Here's how it works http://worldsluxurious.blogspot.com/2012/07/gold-to-go-easiest-way-to-buy-gold.html

For those working n UAE here, you might have seen this sparkling piece of machine. Any insight?