Guys, i am not Chinese, i am foreign working in China, these event happened in Europe. I just buy 30 oz from these guy and he have pawnshop, and i make transaction before police start working in his case. And i didnt make transaction personally but if police really want to follow every clue they can eventually come to me and ask me to hand it over(these coins can just be used like evidence until process is over). Will u hand it over? If i say i dont have it ,they can start dinging more and find out more oz which i buy from other person, and of course i dont have invoice for junk coins. Not to mention that have VAT on AG/AU. Since i dont want to waste me time and money on court i will sell it. Money they cant take , first is not there, second they need to have valid judgment on this guy, and our court r most inefficient in Europe ,so will pass years before this case is over. Almost always u can buy junk silver below spot in my country . Why ? nobody is buying every one is bankrupt, and is illegal to take it out from the country, and it is not gold u can put in ur pockets and move across border, and sell it in other country. Third i am not there to handle situation so better get rid of it even on small loss. But main reason i am selling all is that i expect price go down. When/if price goes down enough in sub 30/20 then i will buy builions, pandas.. Now, average chinese dont buy gold and silver,they r still more occupied with real estate. Maybe just small portion of chinese buy it but i dont think this % is bigger than in other countries , so probably less than 5%. Do i afraid of confiscation? No, why i should? Why chinese government will confiscate ur gold and silver? To pay foreign debt? They always can offer u to redeem it for CNY who is not backed with anything, so at least u will get fiat. I am not dragon so i really dont need to sleep on pile of gold, anyway destiny of AG/AU savings is to bee changed for fiat one day. And if if situation here really became that bad, how bad it will be in other parts of the world? I need fiat CNY in every day life since i am exporting goods from China to pay Chines suppliers, so in 10 minutes i can get same value in other currencies in my home country. After this experience i will buy only in official shops with invoice, i keep all invoices for bulions coins i by in China.It is more expensive , but u dont buy gold and silver for day trading .U buy it and forgot that u buy it for couple years, it is long term for most of us, so few hundred bucks dont means so much. I just write this in hope that my experience will help some one to avoid unnecessary headache.
