I am told that the person buys gold coins from US website with the delivery to Kazahstan and sell them there for profit.

Can it be for real? I am wondering since the import from US should be taxed, and especially the import of gold. And additionally, I really wonder about who can buy coins for a good price when it is so difficult to sell them for the price higher than metal costs.

Does anybody have such experience? What kind of coins is worth buying to sell abroad / for the profit?

Is it safe to invest money in buying+selling of precious metals coins? Is there a profitable model to do it?

  • Apparently, this is not a product/services suggestion, but asking advice on the scheme. IMHO, this scheme sounds like a scam. Perhaps you should tell us more about the scheme, i.e. the complete story of how that person can smuggle gold into a known rogue region like Kazahstan without getting robbed or even killed by the cartel. – mootmoot Aug 23 '19 at 8:36
  • "I am told that the person buys gold coins from US website with the delivery to Kazahstan and sell them there for profit." - They might be acting on behalf of someone who wants to transfer money from an US bank account to a Kazachstan bank account. Why would someone pay for a plane ticket to do that instead of just paying the fee for an electronic wire transfer? Likely because they don't want that transaction to be traceable. Why wouldn't they want that? I will leave that to your imagination. – Philipp Aug 23 '19 at 10:51
  • The spot price is only available to major traders on exchanges like London. Anyone else can choose to trade at less or more than spot if they want. Typically, retailers buy low and sell high to make a profit, their customers will accept the expense because they have less leverage. But if it was possible to profit with such a simple trade, why do you think the major US exporters or Kazakh gold importers are not already doing it? Because they were too dumb to check prices on the internet? Or maybe because shipping and importing the gold is so expensive it's not worth it? – Money Ann Aug 24 '19 at 19:23
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    Also, generally yes it is a sound business to trade coins. There are many large companies that do it. What is your competitive edge over those companies? How will you take their market share? – Money Ann Aug 24 '19 at 19:25

I am sure that it is true that the cost of a 1oz gold coin (or whatever the size is) is different in different countries.

However the difference is going to be tiny (apart from differences in duty) - less than the cost of transportation.

If you are being invited to invest money in a scheme which involves buying coins from the US and selling them in Kazakhstan, then run away. This is a scam.

  • Not necessarily a scam. (Though being asked to invest almost certainly is.) The person might have access to US dollars, which for political reasons can't be exchanged for the local currency. – jamesqf Aug 22 '19 at 16:22
  • I was invited to buy a video course teaching how to invest in buying/selling coins. – Eugene Kaurov Aug 23 '19 at 7:39
  • @EugeneKaurov OK, that isn't a scam (fraud), in that if you pay the money you will receive the video. However the video won't teach you how to make a fortune. – Martin Bonner supports Monica Aug 23 '19 at 8:06
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    @EugeneKaurov Now, that is a scam. – mootmoot Aug 23 '19 at 8:37
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    @EugeneKaurov if this scheme works so well, why is the company bothering to sell videos instead of exploiting this fantastic opportunity? – JohnFx Aug 23 '19 at 21:01

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