Hi People, I'm going to be moving (long term 4 years+) from Melbourne to Germany in 2 months time, I've been looking into the regulations/options around getting my stack from one safe deposit box here, to another there, and as some of you will know it's rather convoluted. To make matters trickier I'm planning on going through S.E Asia, as I need about $3000AUS (Aus prices) cosmetic dental surgery done, and the quality/cost analysis is good. My Stack is not exactly immense, it's about $14,000 (current market value) in a mix of bullion and coins that I've collected over the last few years I've been studying. The way that I see it, I have three main options: A) Arrange specific insurance to cover the risk and then personally carry the metal with me and prepare in advance to encounter all manner of potential pitfalls with corrupt border guards and who knows what along the way. B) Arrange for professionally/insured shipping of the metal, preferably direct to the next deposit box location. C) Sell my current stack, accept the small loss that would entail ($1000) and then rebuild the stack when I arrive. Does anyone have any thoughts, opinions or stories they want to share relevant to my situation? I'm hoping that your collective knowledge will either help me to assess this choice, or discover new ones I haven't considered yet. Cheers, CI
I'd go C for the least amount of risk and headache, may not even lose the $1k. Bringing it all with you would be quite risky given the stopover and insurance/postage to send it over could be quite costly. Maybe look into unallocated for ease of sale next time?
Would be worthwhile just selling and rebuilding your stack entirely. Or you could always bring some for keepsakes.
I'd go for C unless you have got anything very rare. On the plus point you can get everything coin wise in Germany that you could wish for, they are big into coins so you won't have any problems re starting stacking/collecting.
If wishing to continue holding metals, sell it and buy back into unallocated at goldstackers, keep any special pieces that are dear to you, but basically sell it. If planning on coming back in 4 years no point accumulating a stack where your in the same boat heading back to Australia. Unallocated will enable you to hold your position and add to it.
As mentioned, sell up, hold position with unallocated. Also imo 4 years is not long term with metals. What's up forum. I'm black.
D) Keep in your current SDB Otherwise, I concur, sell it and go unallocated/allocated. If you took the lot into a deal that has such an unallocated service then I"m sure they'd be happy to do it all for you on the spot.
I looked into this briefly. I couldn't even find a security logistics company that was willing to ship metals that wasn't for a company rather than a private client. They are probably out there but for $14000, it would probably cost you most of your stack.
Thanks for all your replies. I'm definitely going to do some research into shipping options myself, I guess I'm going to have a good think of all the pro's and con's involved. Personally I'm not inclined towards unallocated, I prefer to have direct physical control over my PM. I have a well diversified portfolio of mutual funds so my silver is very much my 'doomsday insurance'. I also don't want to place any strain on a familial or friendship by asking them to look after it for me, especially as no one in my immediate close circles in involved in PM trading/investing. I might just have to sell up and rebuild, that might well just be the way it has to go. It might even work out better for me, I might accept a paper loss and rebuy into either the same amount of ounces or even more. Decisions, decisions.. Thanks again for your thoughts.
Either C or D - leave in SDB and just pay the fees (if you fully intend to return that is) - why carry it with you when you can leave it here to wait for your return?
C would make the most logical sense but make sure you check first if Germany has any additional taxes on purchasing bullion, I thought I read somewhere once there may have been a small tax ontop of the bullion price to buy in Germany and not sure then if you sell in Germany if you get that back on the price or not. Hopefully is tax exempt like here, i.e. no GST.
Have you ever heard of the - KISS - principle ?? Keep - It - Simple - Stupid - no offence intended. So applying the - KISS - principle I would - SELL - cash travels pretty well. I hope this helps. CGS
Trade ur silvers into gold, and take it to Germany with you (much smaller quantity) . If you get them in krugerrands u can claim 10% back at the airport (if u have a tax invoice).
Ive been flicking through the bullion websites. I did see one company say they could organise your stack to be released to you in another country .... I WANT to say Goldstackers, but I cant be sure, you may have to investigate a little. If I see it again i'll update.
