AlBrough Posted April 3, 2013 Report Share Posted April 3, 2013 Does anyone have information on taking gold coins and bars overseas? I have a few Kruger Rands and some small gold bars that I have bought as investments over the years which I am wanting to take over and may exchange for cash as I need them. I know there is a AU$10'000 limit on cash (from the link below) but nothing is said about high value coins.I have found this info:http://www.customs.gov.au/site/page4351.aspCurrencyThere is no limit to the amount of currency you can bring in or out of Australia. However, you must declare amounts of A$10,000 or more in Australian currency or foreign equivalent. You must disclose any promissory notes, travellers’ cheques, personal cheques, money orders, postal orders or other bearer negotiable instruments, regardless of value, if requested by a Customs and Border Protection officer or police officer. Quote Link to comment Share on other sites More sharing options...
GideonVD Posted April 3, 2013 Report Share Posted April 3, 2013 It's just gonna be murder on your luggage weight 1 Quote Link to comment Share on other sites More sharing options...
HadEnoughofJuju Posted April 3, 2013 Report Share Posted April 3, 2013 If I was you I would contact a forex dealer and find out about that kind of thing. The krugerrands you wouldn't have much of a problem with but the gold bars are quite a different story. You may be accused of smuggling if they're found in your luggage even if you did declared them. Australia may not care about it too much but you will most definitely have problems on the South African side of customs when leaving. I hope you have got some kind of certification or proof of purchase from a reputable dealer here in SA. I was in the goldsmith industry for a couple of years and it was illegal to trade in uncut stones and unprocessed gold without the appropriate license and they have since added silver to that list as well. Gold bars, even if they are stamped correctly are still considered as unprocessed. What you may want to consider if you are not too attached to the gold bars is selling them here and transferring the money to your Australian bank account. Quote Link to comment Share on other sites More sharing options...
AlBrough Posted April 3, 2013 Author Report Share Posted April 3, 2013 I have only recently started with the gold bars since they have lifted the ban on owning minted bars, they are fully papered and above board. They worked out cheaper the Kruger Rands at the time so it seemed like the best idea. I have done some research and I will be able to sell the bars in Aus.I may exchange them with a family member for some more Kruger Rands to avoid complications later. Thanks for that idea Quote Link to comment Share on other sites More sharing options...
HadEnoughofJuju Posted April 4, 2013 Report Share Posted April 4, 2013 That's interesting that they have lifted the ban. Apparently all you will need this side is a secondhand dealers license to trade in gold and silver. I wouldn't take the chance with the customs officials in South Africa even if you have the papers, we all know how bright they are. Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.