Buying and selling Gold instead of exchanging currency....
#1
Buying and selling Gold instead of exchanging currency....
Hi,
As all of you know, the exchange is horrible at the moment and many like us will loose lots of money when exchanging currency.
So I was thinking....what if we buy gold, take it to OZ, and then resell it again?
Has anyone done it? Is it feasible and legal? Would you get a better deal then exchanging money? Would you be able to sell it in OZ at a good price?
Your ideas, feedback and experience is appreciated!
Cheers
B!K3R
As all of you know, the exchange is horrible at the moment and many like us will loose lots of money when exchanging currency.
So I was thinking....what if we buy gold, take it to OZ, and then resell it again?
Has anyone done it? Is it feasible and legal? Would you get a better deal then exchanging money? Would you be able to sell it in OZ at a good price?
Your ideas, feedback and experience is appreciated!
Cheers
B!K3R
#2
Banned
Joined: May 2008
Location: Lagrange 2
Posts: 1,507
Re: Buying and selling Gold instead of exchanging currency....
Well if you have £100 and get (Idon't know) 30 Dollars in Aus.
Buy gold - £100 plus VAT = £117.5 and sell in oz and get 30 dollars. Bad idea
Buy gold - £100 plus VAT = £117.5 and sell in oz and get 30 dollars. Bad idea
#4
BE Enthusiast
Joined: Jul 2008
Posts: 823
Re: Buying and selling Gold instead of exchanging currency....
I think you'd find you'd be attracting the attention of the police on both sides of the border if you are converting money into gold and selling it again. Not a good idea.
#5
Re: Buying and selling Gold instead of exchanging currency....
Also you'd risk having your gold stolen in transit.
#6
Account Closed
Joined: Jun 2005
Posts: 9,316
Re: Buying and selling Gold instead of exchanging currency....
Lettuce is the answer.
Buy lettuce in the UK. Bring it with you and sell at a premium here.
Buy lettuce in the UK. Bring it with you and sell at a premium here.