Swapping PM's to smaller fractions

A

Ag bullet

Well-Known Member
Is it possible to go to a bullion dealer with your stack and trade it like for like but in smaller fractions?

Random example- trading 10x 1oz gold cast bars for 20x ½oz gold cast bars? Paying the difference in premium and buy/ sell price off course.

Would this attract a report to Austrac etc?

Really the only amount changing hands is difference in the premium and buy/sell amount.

It's just a swap of the same amount of gold after all.
 
you probably paying premium for those transaction.
and don't tell anyone......... you are carrying it.
You probably will lose 1/2 oz for that transaction.
 
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I tried swapping some gold for silver in a straight GSR swap with a dealer but the government decided that I was selling gold and buying silver so I needed to pay GST on the gold I was selling.

Easier to do it via a private sale if it is just a straight swap. Just got to find someone who wants to make the trade.
 
Buy and sell Premiums each way will apply with a dealer.
Good luck though trying to get smaller amounts in larger quantities, dealers across the country were flat out for a week selling.
Word is getting out.
Having said that, dealers buy back premiums are great now, everyone wants gold and dealers need stock. Won’t be long till it gets to Covid levels…..no stock……then it’s time to sell, 7% plus on cast 1oz
 
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I've seen it done, and I believe there was no official record when swapping like for like. So you should be able to do something like, swap five one once bars of a PM for one five ounce bar of the same PM.
 
GoldenEye said:
I've seen it done, and I believe there was no official record when swapping like for like. So you should be able to do something like, swap five one once bars of a PM for one five ounce bar of the same PM.
Click to expand...

So I could swap 400x 1oz blobs for 1x 400oz blob?

That would make it easier to count. :p
 
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