4/24/2011

Buying Silver and Gold in South Korea

Gold and Silver are exploding and all indications are that it is going to keep going on into the future. So I hear you say "Where can I get some gold or silver in South Korea?"

What a fantastic question!

Here is what I found while searching google for the answer to this question...

ej105 asked:

I really am frustrated when it comes to investing in South Korea. I want to buy some gold coins or gold bullions but here in Korea, there are no gold coin shops. Banks don’t sell gold. The Korean mint does not make gold coins. Of course this is just the top of the iceberg compared to the problems I am having with investing my money while I am working in South Korea. Did you know that Korean brokers do not give you a prospectus on each stock before you buy it? Also, some dealers just give you a handful of stocks and you don’t know the companies. Yeah, that’s South Korea for you.

Anyway, does anyone know how I can buy or invest in gold in South Korea? Or how about Asia, I am willing to travel anywhere in Asia for great deals in gold, Hong Kong, Singapore, India, anywhere in Asia.
(search for pharmacy technician colleges)

Sorry for being long winded but Korea’s investments strategies are a$$-backwards

Well I agree somewhat. It is not an easy thing to do finding where to buy bullion or coins. And if you are not into buying keys, turtles and pigs you will be hard pressed to find gold in coin or bar form. However after a bit of footwork and internet research I may have a few answers for you.

Jongno 3 (sam) ga - station. This is where "everyone" goes for "wholesale" jewellery. Personally I would rather look elsewhere for fine jewellery as I saw nothing of interesting or unique quality but I digress...

I did find 2 places selling 1000g or 1kg silver bars and another store selling 3.75 - 1oz bars of gold.

This is the store selling silver bars - I was given a price of 2,530,000 W as of 24-04-2011. $US1,518.16 is the spot price today which is roughly 1,639,000 won so that price is a little bit more than I expected over the spot price but considering I was not buying I did not attempt any negotiation.

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The gold store gave me a price on 3.75g of gold 245,000 w spot is $US 48.45 = 196,243 w so again more expensive than it should be over spot but I was not intersted in the least.

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Outside Namdaemun market next to Namdamunro (?) underground shopping centre. Now this is where Korea becomes interesting because this store has many gold coins in the window from all over the world and yet when I enquired (the store attendant didn't speak much English but a long story short the store manager (who was not there) is not selling the coins......... ?....... what is the purpose of displaying something you are not selling?

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If you are into collecting or getting some 90% US silver coins (Liberty ect...) or .999 troy oz Korean coins e.g. APEC or G20 then you may... find some deals here:

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By Shinsegae Mall just up from Namdaemun market is this underground shopping centre with perhaps a dozen coin dealers, some with australian gold coins or US coins. My pick is this guy:

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There are also guys that deal in coins like this:

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1 Troy ounce .999 Made in USA stamped on it with the queens head....... hmmmmm that's interesting : /

Here is that store might be worth a laugh or keep well away from?

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There is also the Seoul Flea Market in Sinseol-dong with a couple of coin dealers with an occasional rarity e.g. a mercury dime.

However.... this week I am going to see if I can get some silver ounces from Komsco (the Korean Mint). The Korean mint site however is bordering on impossible to use as a foreigner and if you think clicking on "English" will help, as with many Korean websites you are sorely mistaken as it takes you somewhere that you dont want to be.

So to make things easier for you I have this link which will take you to the Korean Mint coin collection where you can buy silver or gold. You may have to play around a little and it would definitely help to have a Korean buddy help you!

http://www.koreamint.com/index.jsp

I will see how things go this week, see if I can buy and get something delivered and report back on how easy the process was next week so stay tuned.

If you are not into gold and silver, sorry I do apologise for boring you... have a sandrich :)

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I almost forgot this one... taken from www.trademe.co.nz (New Zealand's equivalent of eBay)... for a 1978 "silver dollar:...

Hi, I think these are copper/nickle and do not contain any silver, cheers xxxx 3:43 pm, Sun 24 Apr


I have a $2 reserve/start price on this "Silver Dollar" I have NOT said it is made of silver but I do know that

it is known as a silver dollar and that is the colour of the coin which is what I have said in the auction. If

someone buys it for $2 what does it matter what it is made of? I may sound a bit terse but this is the 5th time

someone has told me that the coin is not silver. Frankly I think after this I will withdraw the auction and throw

the coin away. 5:47 pm, Sun 24 Apr

Got to love that "kiwi" spirit! :D

22 comments:

  1. Replies
    1. I am writing to you this time to advertise the availability of our
      main products, alluvial gold and diamonds in bulk quantities. As
      we represent a large number of local surface mining, we are prepared to
      provide quantities up to 400 kilograms of 24.karat alluvial
      gold monthly

      DIAMONDS

      D-E VVS1
      D-E VVS1/VS1
      F-G VVS1
      F-G VVS1 G-H-I SI1H-I VVS1/SI1F-H-I VVS1/VVS 2F-G-H SI1G-H VS1G-H-I
      VS1 G-I VVS1/VVS 2F-G-H VS1F-G SI1G SI1G-H VS1H SI1--------------
      VS1-VS2; DVVS2- VS2; EVS1-VS2; H VVS1- VVS2; IFVS1-VS2; DVVS1 – VS2;
      IF VVS1 – VVS1; G--------------
      G-H-I SI
      H-I VVSI/SI
      F-H-I VVS/VVSI

      we have more... we only deal with real buyer not fake buyer.. Buyer
      need to come and inspect what he is buying Following is information
      concerning our product

      GOLD
      Quantity: 400 kilograms available monthly

      Price $25,000 per kilo

      Quality: 22. karat alluvial Au COMMODITY ... ... AU DUST
      PURITY .......... 97.87 QUANTITY ... . 200 KILOS (1st DELIVERY ORIGIN
      ... .. GHANA
      DELIVERY ... WITHING 5 WORKING DAY UPON RECEIPT OF SHIPPING FUND

      Assay reports provided by SGS Laboratories, Accra, Our firm is in possession
      of the Gold Export Certificate issued by the Government of the Republic
      of Ghana necessary to export gold from Ghana, thus we can provide
      service to any part of the world.We are prepared to offer the quantity
      of gold required to the Buyer[ or their representative] We are waiting
      to serve you better

      Best Regards
      Roger
      Email, gabinetgoldmining@gmail.com

      Delete
  2. I sold a bag of kennedy 50 cent american to a shop in the Hoehyeon Underground Shopping Ctr around 2 to 3 months ago. That's over 500 coins and a beautiful 1986 50 dollar gold eagle, also. Some shops do sell gold and silver american coins.
    Paul

    ReplyDelete
  3. KB Gold is now open in S.Korea. KB is a 17 year old financial services company HQ'd in Germany with vaults in Switzerland. They will now ship to S. Korea or store your gold for free in Switzerland. KB sells small denomination kinebars (999.9% 24K gold ingots certified by Swiss Govt.) through referral marketing. KB needs distributors in S. Korea right now. No investment required. If interested email Tim at SwissGoldGroup@gmail.com

    ReplyDelete
  4. I apologize. KB is not yet open in S. Korea but soon will be. You may still register as a distributor (no investment required) and establish yourself for when the S. Korean market does open later this year. Email Tim at SwissGoldGroup@gmail.com

    ReplyDelete
    Replies
    1. I am writing to you this time to advertise the availability of our
      main products, alluvial gold and diamonds in bulk quantities. As
      we represent a large number of local surface mining, we are prepared to
      provide quantities up to 400 kilograms of 24.karat alluvial
      gold monthly

      DIAMONDS

      D-E VVS1
      D-E VVS1/VS1
      F-G VVS1
      F-G VVS1 G-H-I SI1H-I VVS1/SI1F-H-I VVS1/VVS 2F-G-H SI1G-H VS1G-H-I
      VS1 G-I VVS1/VVS 2F-G-H VS1F-G SI1G SI1G-H VS1H SI1--------------
      VS1-VS2; DVVS2- VS2; EVS1-VS2; H VVS1- VVS2; IFVS1-VS2; DVVS1 – VS2;
      IF VVS1 – VVS1; G--------------
      G-H-I SI
      H-I VVSI/SI
      F-H-I VVS/VVSI

      we have more... we only deal with real buyer not fake buyer.. Buyer
      need to come and inspect what he is buying Following is information
      concerning our product

      GOLD
      Quantity: 400 kilograms available monthly

      Price $25,000 per kilo

      Quality: 22. karat alluvial Au COMMODITY ... ... AU DUST
      PURITY .......... 97.87 QUANTITY ... . 200 KILOS (1st DELIVERY ORIGIN
      ... .. GHANA
      DELIVERY ... WITHING 5 WORKING DAY UPON RECEIPT OF SHIPPING FUND

      Assay reports provided by SGS Laboratories, Accra, Our firm is in possession
      of the Gold Export Certificate issued by the Government of the Republic
      of Ghana necessary to export gold from Ghana, thus we can provide
      service to any part of the world.We are prepared to offer the quantity
      of gold required to the Buyer[ or their representative] We are waiting
      to serve you better

      Best Regards
      Roger
      Email, gabinetgoldmining@gmail.com

      Delete
  5. I am an American that collects South Korea coins and currency. I have a very hard time purchasing South Korea Gold and Silver Coins. KOSMO wants to be paid by a Bank Transfer, a very expensive payment method. If you could purchase South Korea Coins or Currency for me, it would be very helpful. Please email me at kaydees@embarqmail.com. I have also been to the Underground coins shop in Seoul and sold to them but never purchased. I found I got a better deal on Ebay.
    Dwight Brown

    ReplyDelete
    Replies

    1. --
      Good day Sir

      i am coordinating to secured and open business relationship with potential
      buyers of our product, Gold dust/bar and uncut Diamonds

      We have 85 kilos of Gold dust/bars and 4678 carat of Diamonds in stock in
      our communal warehouse now,and capacity for additional supplies, and we can
      easily guarantee an increased supply with time. We offer an asking price of
      28,600 USD per Kg for our 22 carat, 94 percent gold.
      Kindly advice and give me counsel on the possible steps to make this a
      reality and success.
      Looking forward to your positive response
      Warm Regards
      Kourouma Augustine
      Email: augustinepeterfirm@gmail.com
      Tell: +220 28584163

      Delete
  6. Any of these businesses accept credit card?

    ReplyDelete
    Replies
    1. The Korean Mint will and I guess these guys will as well:
      http://www.sujipbank.com/shop/main/index.php
      However I dont think the underground markets will do credit card transactions but I cant be sure as I have never tried. I would expect the jewelry stores would accept credit cards too. Sorry I cant be more help :/

      Delete
  7. We are gold mining company based in Ghana, West Africa , we deal on Alluvial Gold Dust and Gold Bars
    we currently have stockpile of gold for supply.

    Commodity........Gold Dore Bars (AURUM UTALIUM)
    Origin.....Ghana
    Form ......Dust and Bars
    Purity.......96%
    Quantity......850kg
    Quality......23 carats
    Price ...... Negotiable


    Interested buyer should contact us on the email below.

    Email: agpius@ymail.com
    Tel: +233271789480

    ReplyDelete
  8. http://www.hkgold.co.kr/

    They only sell silver and gold bars.

    ReplyDelete
  9. Hello
    I am the direct seller and am working with Kourousa Community Development,
    Which is a very large local Mining Company here in Guinea Conakry. We
    mine and sell Gold and we have a very large quantity which will are
    seeking for a partner or Buyer who will go into
    long time business relationship with us.

    We can deliver FOB and CIF to you anywhere you are through our agent,
    the Gold we have is 22.40carat / 94% purity,quantity available is very
    large with good price ,we also have rough Diamonds,

    Confirm this mail and get back to me and let me
    know your interest
    for more details. Best regard and Allah bless you.
    Abdoul Mohamed
    Kourousa Community Development
    BP 20011 C/Riya Siguiri Gold & Diamond Mines
    Republique De Guinee
    Skpye:abdulmohamed88
    investmentpureminerals@gmail.com
    Tel :+224-662487932

    ReplyDelete
  10. We are a group of local small scale miners registered by the government of
    Ghana. We have both gold dust and gold bars for sale to a serious buyer.
    Following is information concerning our product:
    Quantity: 250 kilos
    Origin: Ghana ,
    Quality: 22. Karat plus

    Assay reports provided by any refinery laboratories, in Accra, and we are
    prepared to offer the quantity of gold required to your company [or your
    representative] upon their arrival in Ghana.
    Shipment terms shall be based on the quantity of the gold the buyer need..
    Further, we currently seek outside-based serious investors on a partnership
    basis in order to increase our production capacity. If you are interested
    to buy this gold or have any further questions, kindly contact me:

    Mr. Kwaku Djimah

    Email: kwakudjimah@yahoo.com

    Looking forward to doing business with you. We can provide you any
    quantities of gold you need
    get back to me.

    ReplyDelete
  11. Dear Sir/Madam,

    We represent some group of villages local miners in CONGO to assist, source and negotiate the sales of our locally mined Diamond and Gold Dust Au with Potential buyers,With full legal and corporate responsibility and under the penalty of perjury, with full knowledge of the act of fraud and as seller, are ready, willing and able to deliver Au metal Gold and rough/uncut diamond.

    Hence, we are sourcing for prospective diamond and gold buyers, partners and individuals for the sales of our diamond and gold dust AU,investors that can invest in providing modern mining equipment or buy mining fields,as well as establishing more business relationship that will be durable and viable.

    We are ready to start with any amount of quantity to build trust and a better relationship for the business to grow higher.

    Any amount of quantity can be sold depending on the capability of the buyer i.e. (small or higher quantity) and the price is negotiable to be favorable to the buyer and the villagers. FOB trial order can also be transacted between the buyer and the villagers.

    Find bellow the specification of our products
    COMMODITY GOLD DUST AU/Bars
    PURITY............92+% or more
    QUALITY..........22 Karats or plus.
    Price.........................$25,500usd [Gold Dust]FOB
    Price................$28,500usd[Gold Bars] FOB
    ORIGIN............... Republic of CONGO

    The door is open for your visitation to CONGO or KENYA, to inspect the products and to hold meeting with the villagers/communities heads,samples can be send to buyers based on genuine agreements for the interest of future transactions and so many communities projects.

    Kindly revert back to us.
    REGARDS
    PATRICK
    TEL no:+254717967323
    skype id:kisimaminerals

    ReplyDelete
    Replies
    1. I am writing to you this time to advertise the availability of our
      main products, alluvial gold and diamonds in bulk quantities. As
      we represent a large number of local surface mining, we are prepared to
      provide quantities up to 400 kilograms of 24.karat alluvial
      gold monthly

      DIAMONDS

      D-E VVS1
      D-E VVS1/VS1
      F-G VVS1
      F-G VVS1 G-H-I SI1H-I VVS1/SI1F-H-I VVS1/VVS 2F-G-H SI1G-H VS1G-H-I
      VS1 G-I VVS1/VVS 2F-G-H VS1F-G SI1G SI1G-H VS1H SI1--------------
      VS1-VS2; DVVS2- VS2; EVS1-VS2; H VVS1- VVS2; IFVS1-VS2; DVVS1 – VS2;
      IF VVS1 – VVS1; G--------------
      G-H-I SI
      H-I VVSI/SI
      F-H-I VVS/VVSI

      we have more... we only deal with real buyer not fake buyer.. Buyer
      need to come and inspect what he is buying Following is information
      concerning our product

      GOLD
      Quantity: 400 kilograms available monthly

      Price $25,000 per kilo

      Quality: 22. karat alluvial Au COMMODITY ... ... AU DUST
      PURITY .......... 97.87 QUANTITY ... . 200 KILOS (1st DELIVERY ORIGIN
      ... .. GHANA
      DELIVERY ... WITHING 5 WORKING DAY UPON RECEIPT OF SHIPPING FUND

      Assay reports provided by SGS Laboratories, Accra, Our firm is in possession
      of the Gold Export Certificate issued by the Government of the Republic
      of Ghana necessary to export gold from Ghana, thus we can provide
      service to any part of the world.We are prepared to offer the quantity
      of gold required to the Buyer[ or their representative] We are waiting
      to serve you better

      Best Regards
      Roger
      Email, gabinetgoldmining@gmail.com

      Delete
  12. Dear Madam and Mr,

    We are looking for partner in building a local mining company or
    serious cash buyers of AU Gold and rough and uncut Diamond, my father
    and others are local sellers and miners of Gold and Diamond here in
    Guinea, they want to get money to help our families as you know here
    in Africa we have many people in our families, they are counting on
    some people who went to school to help them but these people just want
    to steal their products even the government promised to help our
    community but since my father gave them produts they've been just
    telling story every day, every time. This is the reason why our
    community decided to contact the good people.

    Due to the way they are mining their products many people are trying
    to teach them because they don't know the world market even some
    mandates and buyers rep have come and carried their products on
    credits and they have never come back to pay their money. Right now i
    want to get them serious people who can help them to sell their
    products following the market. At the moment they have GOLD DUST /
    BARS and ROUGH/UNCUT DIAMOND in large quantities for sale at cheap
    price.

    They need people like you, people over there to help them develop
    their goal, so that they can help our community, because people sicks
    and dies because no money. They have the products but they are very
    poor here because of the way the government and some people are
    treating them, they want serious buyers to be their eyes and mouths,
    they are ready to give you goods if you are serious and ready to open
    a local mining company with them to work together and help them and
    you in mutual benefit or help them buy their products so that they
    can at least buy mining equipments such as, bulldozers, tractors,
    excavators, wheel loaders, backhoe loaders, motor graders, dump
    trucks, crushing equipment, and etc as we need to enhance our mining
    productivity. We will give you good price far below the word market
    price.

    Hope to hearing from you soon.

    Thank you,
    Mr Mamady Konaté
    Community representative

    Siguiri Gold and Diamond local
    mining community company,
    BP:3005, Siguiri,
    Republue de Guinea
    E-mail: k.mamady82@yahoo.fr / kmamady82@gmail.com
    Tel: +224657629251

    ReplyDelete
  13. I am writing to you this time to advertise the availability of our
    main products, alluvial gold and diamonds in bulk quantities. As
    we represent a large number of local surface mining, we are prepared to
    provide quantities up to 400 kilograms of 24.karat alluvial
    gold monthly

    DIAMONDS

    D-E VVS1
    D-E VVS1/VS1
    F-G VVS1
    F-G VVS1 G-H-I SI1H-I VVS1/SI1F-H-I VVS1/VVS 2F-G-H SI1G-H VS1G-H-I
    VS1 G-I VVS1/VVS 2F-G-H VS1F-G SI1G SI1G-H VS1H SI1--------------
    VS1-VS2; DVVS2- VS2; EVS1-VS2; H VVS1- VVS2; IFVS1-VS2; DVVS1 – VS2;
    IF VVS1 – VVS1; G--------------
    G-H-I SI
    H-I VVSI/SI
    F-H-I VVS/VVSI

    we have more... we only deal with real buyer not fake buyer.. Buyer
    need to come and inspect what he is buying Following is information
    concerning our product

    :GOLD
    Quantity: 400 kilograms available monthly
    Price $30,000 per kilo
    Quality: 22. karat alluvial Au COMMODITY ... ... AU DUST
    PURITY .......... 97.87 QUANTITY ... . 200 KILOS (1st DELIVERY ORIGIN
    ... .. GHANA
    DELIVERY ... WITHING 5 WORKING DAY UPON RECEIPT OF SHIPPING FUND

    Assay reports provided by SGS Laboratories, Accra, Our firm is in possession
    of the Gold Export Certificate issued by the Government of the Republic
    of Ghana necessary to export gold from Ghana, thus we can provide
    service to any part of the world.We are prepared to offer the quantity
    of gold required to the Buyer[ or their representative] We are waiting
    to serve you better

    Best Regards
    Roger
    Email. gabinetgoldmining@gmail.com

    ReplyDelete
  14. I am writing to you this time to advertise the availability of our
    main products, alluvial gold and diamonds in bulk quantities. As
    we represent a large number of local surface mining, we are prepared to
    provide quantities up to 400 kilograms of 24.karat alluvial
    gold monthly

    DIAMONDS

    D-E VVS1
    D-E VVS1/VS1
    F-G VVS1
    F-G VVS1 G-H-I SI1H-I VVS1/SI1F-H-I VVS1/VVS 2F-G-H SI1G-H VS1G-H-I
    VS1 G-I VVS1/VVS 2F-G-H VS1F-G SI1G SI1G-H VS1H SI1--------------
    VS1-VS2; DVVS2- VS2; EVS1-VS2; H VVS1- VVS2; IFVS1-VS2; DVVS1 – VS2;
    IF VVS1 – VVS1; G--------------
    G-H-I SI
    H-I VVSI/SI
    F-H-I VVS/VVSI

    we have more... we only deal with real buyer not fake buyer.. Buyer
    need to come and inspect what he is buying Following is information
    concerning our product

    :GOLD
    Quantity: 400 kilograms available monthly
    Price $30,000 per kilo
    Quality: 22. karat alluvial Au COMMODITY ... ... AU DUST
    PURITY .......... 97.87 QUANTITY ... . 200 KILOS (1st DELIVERY ORIGIN
    ... .. GHANA
    DELIVERY ... WITHING 5 WORKING DAY UPON RECEIPT OF SHIPPING FUND

    Assay reports provided by SGS Laboratories, Accra, Our firm is in possession
    of the Gold Export Certificate issued by the Government of the Republic
    of Ghana necessary to export gold from Ghana, thus we can provide
    service to any part of the world.We are prepared to offer the quantity
    of gold required to the Buyer[ or their representative] We are waiting
    to serve you better

    Best Regards
    Roger
    Email. gabinetgoldmining@gmail.com

    ReplyDelete
  15. HELLO EVERYONE

    let me take this golden opportunity to introduce myself, am Maryanne a mandate seller of gold and diamonds located in Nairobi Kenya

    I am contacting you because i am looking for buyers of gold worldwide and i would like to take this opportunity to introduce my self to you




    In case you don't deal in Gold please connect me to any buyer you may know because you will earn yourself a commission of 2000$ PER KG. i look forward to develop a good business relation ship between us.

    Waiting to hear from you.




    Gold nuggets/bars

    Purity: 97.17% 23.1 carats

    price: 30,000$ per kg


    Skype Maryanne.njoki

    telephone number;+254707649639

    ReplyDelete
  16. Dear Gold or Diamond buyer
    I am Abdulaziz Mohamed, from (Cotonou) Benin, we get gold and diamond for sale, we need interesting buyer, we also have smallest miners for additional supply, if it’s requisite by buyer, we are able to sign long time contract, me via Skype: mabdumo E-mail: (mabdulazizmohamed@yahoo.com)

    ReplyDelete