Hi I'm new here! Questions - selling and transporting silver overseas

C

Chelsea

New Member
Hi everyone

So glad I've found this forum. I'm very impressed with people's knowledge here and have been reading posts here for a few weeks.

I started to believe in silver since a few years ago and there is no return. Since I've never sold my silver before (and never will at a price below $100 or even $200 ha), I want to know if one day if I bring the silver to a dealer to sell it, what will happen - I can imagine they will give me a cheque with my name - if so i wonder if the cheque can be banked overseas?

Also, how many kilos of silver can be transported with me by plane if I go overseas? I'm aware that we need to declare if we bring over $10,000 AUD overseas. Does it mean that we can bring silver overseas without declaring if it is worth less than $10,000?

I don't trust banks in general but if I have to choose I prefer putting money in Asian banks. My general concern with silver is not how low it can get at this point, but rather how I should deposit the cash when I sell the silver at $600 per oz so to say? Something nice for us all to 'worry' about!:)

Well PMs are like a religion we either believe it or not!:)
 
There are more qualified members on here who will probably answer your questions, but for my pennyworth a friend of mine purchased silver here in Oz then got whacked for VAT when he returned to the UK recently ( no tax breaks in the UK on Silver evidently)

The lesson here is to understand the local tax laws and what taxes apply to bullion when entering a country
 
No need for you to worry about this - ever - if you are waiting for $600/oz to sell.
 
On a more productive note, dealers would most likely do a local bank transfer. You could call a few and ask about I tear atonal transfers but my guess is the answer will be no, due to bank fees. Nothing prevents you from transferring to your aussie account and then to your overseas one. If you are concerned about it leaving a mark for the gov to see, it is not relevant and selling back to a dealer will require you to provide ID.
 
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