Hey all, I’m after some first hand advice, I live in Australia and I’m planning a holiday to Switzerland and France next year. I was thinking of picking up some Credit Suisse/PAMP bars and some 5,10 or 100 Franc gold coins. I thought it could ba a good excursion to get to the mints or walk to the dearlers in the capital cities. Is it cheaper to pick up gold in the their source country or is that fantasy in a globalised market? Cheers.
On the way home you are liable for the 10% gst on coins plus the cost of converting for the local currency, and also dealers margin.
There would be hardly any financial advantage in it, if anything. Dealers the world over are all spot + margin. Margin varies between dealers and product in any country, as it always does. Not including currency conversion whcih might kill any savings.
I was travelling Europe last year and really enjoyed the experience of buying coins while there. I have no language skills apart from English but researched before I bought so I had an idea on what to pay. Most of the shops expected me to haggle on the price.....I just really enjoyed it... As for GST, "There is no Australian tax or duty on the import or export of so-called investment grade gold and silver items as per Australian Taxation Office (ATO) definitions." Source : https://preciousmetaltax.com › Australia I may be wrong but I reckon you will be ok with Ducat, Corona, Franc, Kronor etc Plus when do you ever get your money back on holiday souvenirs if you have to?
PS...snail mail your receipts back to Australia before you leave...don't take photos of them on your phone.
Only on anything deemed "non bullion" .999 bars are fine and 100% tax excempt. You still need to declare if entering the country with over 10K cash or equivalent though 22K (thing AGE's, Sovs,Krugers,ets) WILL attract GST as they are not classed as 'bullion'
