Vietnam to ban 'Gold in and Gold out'

B

Black_Sun

New Member
http://www.bullionstreet.com/news/vietnam-to-ban-gold-in-and-gold-out/2457

Vietnamese and foreign individuals may be banned from taking gold bullion out of the country when they leave

HANOI(BullionStreet): In yet another attempt to 'strengthen' it's gold sector, Vietnam central bank is considering to impose a ban on travelers from bringing gold into and out of the country.

According to a draft circular from the State Bank of Vietnam, Vietnamese and foreign individuals may be banned from taking gold bullion out of the country when they leave. The ban may also extend to raw gold, such as nuggets and gold dust.

However, the circular said it will allow a small amount of jewelry to pass through customs. But if the amount exceeds 300 grams they will be required to inform customs officials and pay tax.

Travelers are currently allowed to carry the precious metal as long as they declare their gold holdings to customs.

However, people who go abroad for legal permanent residency would be allowed to carry one kilogram of gold if they possess a permit issued by SBV branches in the provinces and cities where they reside.

The draft rule states that requests for permits would take 15 days to process.

Immigrants from Vietnam who want to take their gold assets to another country will need approval from provincial authorities.

The draft circular comes after the State Bank of Vietnam tightened regulations over gold trading earlier this year and took over the production of gold bars.
 
These smuggler bars should fetch a pretty premium over there :)
Anyone know how many of these you can swallow in one go :P

6_half_oz_perth_mint_rounds_001.jpg
 
I can see a whole new industry casting gold into everyday items, plated with some other metal. Walking canes, belt buckles to name a couple.
And the smuggler bars will go down well :)
 
Aurora et luna said:
These smuggler bars should fetch a pretty premium over there :)
Anyone know how many of these you can swallow in one go :P

http://forums.silverstackers.com/uploads/6_half_oz_perth_mint_rounds_001.jpg
Click to expand...

Aurora et luna,

These bars look well worn. I'm curious... are they "well worn" through handling, or did they actually come out of the mint like this? If the answer is "they're well worn through handling", then I'm surprised... I knew 24K gold was "soft", but didn't think that finger handling could have an effect such as this.
 
willrocks said:
I can see a whole new industry casting gold into everyday items, plated with some other metal. Walking canes, belt buckles to name a couple.
And the smuggler bars will go down well :)
Click to expand...


You can bring gold coins right in under their noses.
Scuff up a few $200 Koalas and mix them with your $1, $2, 20c, 10c, 5c coins in your coin purse.
No one will check it!
Even if they did, what crime have you committed carrying $A200 in legal tender coinage on your person?
 
Black_Sun said:
Aurora et luna said:
These smuggler bars should fetch a pretty premium over there :)
Anyone know how many of these you can swallow in one go :P

http://forums.silverstackers.com/uploads/6_half_oz_perth_mint_rounds_001.jpg
Click to expand...

Aurora et luna,

These bars look well worn. I'm curious... are they "well worn" through handling, or did they actually come out of the mint like this? If the answer is "they're well worn through handling", then I'm surprised... I knew 24K gold was "soft", but didn't think that finger handling could have an effect such as this.
Click to expand...

Not sure Black Sun
I bought them from a bullion dealer who piles them all up inside a box.
These bars can and should be fondled and handled unlike the sterile Perth Mint minted bars.
 
Aurora et luna said:
These bars can and should be fondled and handled unlike the sterile Perth Mint minted bars.
Click to expand...

I love the bars and junk coins the most as I can fondle them. Proof ones are pretty but not as much fun. Similarly, I hate the supertight capsules because it's nearly impossible to get the coins out.
 
Aurora et luna said:
willrocks said:
I can see a whole new industry casting gold into everyday items, plated with some other metal. Walking canes, belt buckles to name a couple.
And the smuggler bars will go down well :)
Click to expand...


You can bring gold coins right in under their noses.
Scuff up a few $200 Koalas and mix them with your $1, $2, 20c, 10c, 5c coins in your coin purse.
No one will check it!
Even if they did, what crime have you committed carrying $A200 in legal tender coinage on your person?
Click to expand...

However some people moving overseas have a lot more than a few coins. Imagine having live savings in Gold. You'd need to become very inventive.
 
Black_Sun said:
Aurora et luna said:
These smuggler bars should fetch a pretty premium over there :)
Anyone know how many of these you can swallow in one go :P

http://forums.silverstackers.com/uploads/6_half_oz_perth_mint_rounds_001.jpg
Click to expand...

Aurora et luna,

These bars look well worn. I'm curious... are they "well worn" through handling, or did they actually come out of the mint like this? If the answer is "they're well worn through handling", then I'm surprised... I knew 24K gold was "soft", but didn't think that finger handling could have an effect such as this.
Click to expand...

I thought they're smooth so you can swallow them for transportation? Then have a few laxatives and go gold digging when you arrive.
 
bordsilver said:
willrocks said:
have a few laxatives and go gold digging
Click to expand...

:lol: :lol: :lol:
Click to expand...

Maybe they look so worn because he didn't take the laxatives.
:rolleyes:

Speaking of gold being disguised, I saw a film with Ben Stiller (might have been called 'The Tower' about a dastardly banker (Alan Alda) who had his gold well hidden.

In the end the clever Ben figured out where it was and closing shots of the move showed improbable scenes of people receiving FedEx packages (product placement really works), with their share of the loot perfectly fabricated into a commonplace object - but of course glistening gold. Hollywood. Hollywood. lol
 
ShadowPeo said:
if you use the condom trick, it does bring new meaning to sitting on your assets
Click to expand...

Also brings new meaning to laying a golden egg.
 
Good. Vietnam is already struggling. Why should they allow you bastrds to take their gold?

I would of banned you all years ago.
 
Turn those gold rounds into buttons and stitch them to a nice overcoat

Turn your 10oz bars into belt buckles

and your 1/20 ounce rounds into necklaces

I rekon if someone manufactured jewlery in troy ounce weights they would be a millionaire
 
This is obviously such a ridiculous policy and I don't know what benefit they're thinking this would do to coerce their citizens like this. I don't even see it as protectionism. It is outright prohibition that has no basis at all. I mean, I get VAT or tariff since Keynesians and protectionists love that but to completely ban it seems so ridiculous to me.
 
SilverSanchez said:
Turn those gold rounds into buttons and stitch them to a nice overcoat

Turn your 10oz bars into belt buckles

and your 1/20 ounce rounds into necklaces

I rekon if someone manufactured jewlery in troy ounce weights they would be a millionaire
Click to expand...
Necklace with 1/20 oz linked parts with purity and weight stamped on each section and i'd be in
 
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