Buying Silver in Singapore and bringing back to Australia.

Discussion in 'General Precious Metals Discussion' started by Buffaloknight, Jun 18, 2022.

  1. Buffaloknight

    Buffaloknight Active Member

    Joined:
    Oct 19, 2016
    Messages:
    121
    Likes Received:
    70
    Trophy Points:
    28
    Location:
    Melbourne VIC
    I am having a bit of a holiday in Singapore soon and would like to buy some 999 silver bars while I am there and bring them back to Australia with me. Maybe some 10oz and kilo bars. I am interested in adding a bit of variety to my stack with the different maker marks.

    Does anyone have any advice on what the best way to do this is? I have read some horror stories on this forum involving incompetent customs and complicated paperwork, and hope to avoid this. Theoretically, it is GST free, but the reality is sometimes different.

    Should I put in my checked baggage? Carry on baggage? Should I "declare" or not "declare"?
    I would like to keep things easy and simple if possible.

    I appreciate anyones advice/experience with this. Has anyone travelled back from overseas with bullion bars?
     
  2. aussiesilver

    aussiesilver Well-Known Member Silver Stacker

    Joined:
    Aug 4, 2009
    Messages:
    1,780
    Likes Received:
    736
    Trophy Points:
    113
    Location:
    Victoria
    Allways carry your bullion into the country via your Carry on Baggage, can be heavy so dont look as though your struggling with it
    You need to declare that you are carrying goods back into the country via the Airport arrivals car with goods valued over $900
    Then print this for Border Forse after they nab you
    https://www.ato.gov.au/law/view/document?docid=GST/GSTR200310/NAT/ATO/00001

    I would highly suggest you dont bring in coins, they will get you on those.
    It may be possible to send the odd ten oz bar back via Singapore post,,dont send kilo bars and only send one 10oz bar per package
    Try China town and Little India, stay away from the big dealers like Bullionstar unless they have something exceedingly rare at about spot
     
    Buffaloknight likes this.
  3. Golden ChipMunk

    Golden ChipMunk Well-Known Member

    Joined:
    Dec 12, 2012
    Messages:
    7,899
    Likes Received:
    1,320
    Trophy Points:
    113
    Location:
    Perth, Jupiter, Venus, Mars
    Beware of Fake stuffs , plenty around.
     

Share This Page