# Who knows about buying/selling gold or platinum coins in the Philippines?



## Zone199 (Oct 21, 2013)

I’ve tried to get information about buying and selling of precious metals coins in the Philippines by emailing coin dealers found on the Sulit site, but none of them ever reply.

I would like to get an idea of what kinds of gold or platinum coins are available and if they are easy to buy and sell. Any information you might have on this would be greatly appreciated.

Thanks
Maxx


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## Glen48 (Jul 6, 2012)

Whats your opinion on pM's i reckon gold will go down to 750 and we will have deflation..after being a strong gold bug for 6 yrs i can't see any one paying 7500k for 1 oz.


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## JimnNila143 (Jul 23, 2013)

Zone199 said:


> I’ve tried to get information about buying and selling of precious metals coins in the Philippines by emailing coin dealers found on the Sulit site, but none of them ever reply.
> 
> I would like to get an idea of what kinds of gold or platinum coins are available and if they are easy to buy and sell. Any information you might have on this would be greatly appreciated.
> 
> ...


This may not be an easy thing to accomplish, especially in the Philippines because there may be laws that prevent one from possessing precious metals, coins, etc. I know for a fact that this kind of item cannot be imported into this country. There is also a fact that during WW II, the Japanese stole millions of dollars worth of gold, silver, gemstones, and US currency and buried it in places and booby-trapped all of these places. I would suggest that you speak face to face with a coin dealer if you know where their address is.


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## HondaGuy (Aug 6, 2012)

Maxx,

I honestly wouldnt do any buying or selling of precious metals in the Philippines. If youre interested in buying,holding or selling PMs, take a quick flight over to Hong Kong or Singapore and do it there. If you want to make absolutely sure youre getting real and not fake coins, you can buy a kit called the Fisch that lets you test the more popular coins based on diameter, thickness and weight.


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## Glen48 (Jul 6, 2012)

Would try a coin dealer with a shop some in manila and get him to use Nitric acid on any gold to make sure
think pawn broker would be ok as well they will test before they buy also wait for the price to crash


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## Zone199 (Oct 21, 2013)

JimnNila143 said:


> This may not be an easy thing to accomplish, especially in the Philippines because there may be laws that prevent one from possessing precious metals, coins, etc. I know for a fact that this kind of item cannot be imported into this country. There is also a fact that during WW II, the Japanese stole millions of dollars worth of gold, silver, gemstones, and US currency and buried it in places and booby-trapped all of these places. I would suggest that you speak face to face with a coin dealer if you know where their address is.



I think that is good advice you just gave me. I've been trying to find out what the law is in the Philippines regarding precious metal coins and nobody seems to know. Yet, I've seen ads on Philippine websites where Philippine coin dealers seems to be buying and selling precious metal coins. Thanks for the heads-up, I'll look into it more.


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## Zone199 (Oct 21, 2013)

HondaGuy said:


> Maxx,
> 
> I honestly wouldnt do any buying or selling of precious metals in the Philippines. If youre interested in buying,holding or selling PMs, take a quick flight over to Hong Kong or Singapore and do it there. If you want to make absolutely sure youre getting real and not fake coins, you can buy a kit called the Fisch that lets you test the more popular coins based on diameter, thickness and weight.


Thanks HondaGuy, but I already own some precious metal coins and I hope to be retiring to the Philippines sometime next year. So I'm more concerned with knowing that it's legal to bring the coins into the country and knowing that I can sell them if need be. 

The coins are all rated by PCGS or NGC (coin grading services) and encased, so I'm pretty sure coin dealers will recognizance them as legitimate. But I just want to make sure there is no problem with holding or selling these types of coins in the Philippines before I take them over there.

They are Platinum Eagle coins.

Thanks
Maxx


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## Zone199 (Oct 21, 2013)

Glen48 said:


> Whats your opinion on pM's i reckon gold will go down to 750 and we will have deflation..after being a strong gold bug for 6 yrs i can't see any one paying 7500k for 1 oz.


Sorry Glen, I really don't know.

Maxx


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## Asian Spirit (Mar 1, 2010)

Zone199 said:


> Thanks HondaGuy, but I already own some precious metal coins and I hope to be retiring to the Philippines sometime next year. So I'm more concerned with knowing that it's legal to bring the coins into the country and knowing that I can sell them if need be.
> 
> The coins are all rated by PCGS or NGC (coin grading services) and encased, so I'm pretty sure coin dealers will recognizance them as legitimate. But I just want to make sure there is no problem with holding or selling these types of coins in the Philippines before I take them over there.
> 
> ...


Maxx,

The Philippines is a "funny" place when it comes to what is legal or not. Often time legal just like the truth about anything is often very fluid and can even depend on what (who) government official you speak to. 
Point is, even if you have to make an advance trip here to get solid info, it will be well worth it in the end. 
These are items that you MUST declare when entering the country. If they prove to be an illegal item to bring in, they will be permanently confiscated at the airport and you would likely be deported within hours of your arrival and NEVER be allowed to return.
Make 100% sure before the move!


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## Glen48 (Jul 6, 2012)

The price of gold is coming down i would wait for it to bottom first


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## Gary D (Oct 28, 2013)

Zone199 said:


> Thanks HondaGuy, but I already own some precious metal coins and I hope to be retiring to the Philippines sometime next year. So I'm more concerned with knowing that it's legal to bring the coins into the country and knowing that I can sell them if need be.
> 
> The coins are all rated by PCGS or NGC (coin grading services) and encased, so I'm pretty sure coin dealers will recognizance them as legitimate. But I just want to make sure there is no problem with holding or selling these types of coins in the Philippines before I take them over there.
> 
> ...


My hobby is coin collecting. If your coins are slabbed you must sell them in the US. In general collectors outside the US don't do slabs. Any I have bought I have only paid the raw value for and then remove them from their plastic tombs. To sell in the Philippines your only option is likely to be the pawnshops. You will get less than bullion after they have removed the coin from the slab to weight and ascertain the finesse. They might not even be interested as they won't understand what they are.


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## Zone199 (Oct 21, 2013)

Jet Lag said:


> Maxx,
> 
> The Philippines is a "funny" place when it comes to what is legal or not. Often time legal just like the truth about anything is often very fluid and can even depend on what (who) government official you speak to.
> Point is, even if you have to make an advance trip here to get solid info, it will be well worth it in the end.
> ...


I don't really have that many. I think I'll just sell them before I come. Thanks for the advice!

Maxx


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## Glen48 (Jul 6, 2012)

Get in quick if selling gold etc is on the way down.


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## oldfatfella (Apr 11, 2014)

I'm happy to see that, as with you, Mr Murphy was an optimist. $750 is possible but only if the US $ goes to absolute 0. Not out of the range of possibility. If the market stays at least 30 Pesos /US $1.00, it won't happen. Sorry. <Snip>


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## dirkmert60 (Nov 19, 2013)

Zone199 said:


> I’ve tried to get information about buying and selling of precious metals coins in the Philippines by emailing coin dealers found on the Sulit site, but none of them ever reply.
> 
> I would like to get an idea of what kinds of gold or platinum coins are available and if they are easy to buy and sell. Any information you might have on this would be greatly appreciated.
> 
> ...


Hi. Just read yourpost. I am an Australian living in the Philippines and have the ssme problem. Have a few hundred ounces of silver coins stored in Australua and about 30 ounces with me. Cant find a reliable dealer here and when you do find one they never reply to emails.


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## JimnNila143 (Jul 23, 2013)

As many of you know, during World War II, there were a number of Japanese occupiers who stole and confiscated Philippine Art Treasures, gold, silver, precious metals, precious stones, high value paper money printed by the US, to be used for interbank commerce, and much of it was buried and, for that matter, booby trapped in a number of different places in the Philippines. The Japanese even went so far as to force Filipinos to bury these treasures, then killed them before booby trapping and closing up the place. There are a few treasure hunters that have done research and are trying to locate these places and sometimes the booby trap goes off, either an explosion or with deadly gas, resulting in the death of the one or ones who set it off. If the treasure is successfully captured, the Philippine government will want a big bite out of the value of the treasure. This is something one has to think about. Legally, you cannot import precious metals, coins, precious stones into the Philippines.


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## Asian Spirit (Mar 1, 2010)

JimnNila143 said:


> Legally, you cannot import precious metals, coins, precious stones into the Philippines.


*This is the point I was about to make. As such continued discussion on the subject would be against Forum Rules. As much as I hate doing it, this thread is :closed_2: *


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