Need advice and/or ideas (Gold)

[RedJohn]

You all may not know it, but I live in Western Europe at this time. I was wrongfully fired recently and the courts decided that it was the case. I am going to get, not a big but a nice chunk of cash my way from my former boss for that illegal firing. (For the one that want to know, I was complaining that people were smoking and taking drugs everywhere (both forbidden by law) and that I waited long enough with no software licence and it was time to finally buy them. 2 days after I made these demands, I was fired).

That being said, I am going to transfer most of the cash I have on hand to the US (the change rate is fantastic at this time) and I need for this cash to increase pending my return stateside.

I was thinking at the beginning that I would convert it to CDs, but the return is small and I have little faith in the banks. I then thought to change it in gold (constant increase for the past 10 years, 25% last year). This is the best option for me it seems. however, I cannot take them back with me, and I am having a hard time leaving them in my safe at the bank (if the bank ever closes ...) and I cannot hide it anywhere as I am too far if I need to get it back.

Any of you have another idea on how to keep gold safe but not at the bank?

[Stormfeather]

Simple, purchase it in small denominations, and keep it with you for safekeeping. Moneybelts work great for this. Use your imagination for stash spots, books, potatoe flakes boxes, ect ect.

[TroubleShooter]

Well.............Trust is the game here, either you pay someone / something to keep your stuff safe or you have someone you trust. If you are totally dependent upon yourself and don't trust anyone then you must find different ways. You can carry a lot gold around on your person, although check points could suck. Molding of gold into items you keep around, but that makes it hard to resale to the average Joe for quick cash......Leasing or buying property stateside, then storing or burying your gold there until your return.......

[TroubleShooter]

1 oz Credit Suisse Gold Bars | Buy Gold Online | APMEX.com (http://www.apmex.com/Product/11950/1_oz_Credit_Suisse_Gold_Bar_9999_Fine_In_Assay.asp x)

You can carry this in your wallet, in the picture sleeves.....

[bacpacker]

i was thinking maybe something along the lines of what is provided for use with IRA's. You purchase it and the company you buy from holds it until retirement or withdrawl. I'm not sure they do this for non IRA, but might be worth checking into.
I would not put it in a safe depoist box for more than very short term holding.

[RedJohn]

Simple, purchase it in small denominations, and keep it with you for safekeeping. Moneybelts work great for this. Use your imagination for stash spots, books, potatoe flakes boxes, ect ect.

I have 10k in bill already. Thinking about gold for them too.

[RedJohn]

1 oz Credit Suisse Gold Bars | Buy Gold Online | APMEX.com (http://www.apmex.com/Product/11950/1_oz_Credit_Suisse_Gold_Bar_9999_Fine_In_Assay.asp x)

You can carry this in your wallet, in the picture sleeves.....

Yeah, i have thought of that, but the gold is not in my hands, and if these companies go under I am out of it.

[RedJohn]

i was thinking maybe something along the lines of what is provided for use with IRA's. You purchase it and the company you buy from holds it until retirement or withdrawl. I'm not sure they do this for non IRA, but might be worth checking into.
I would not put it in a safe depoist box for more than very short term holding.

No confidence in these companies. If banks go down, they will too. Plus it is short term, 12 to 18 months.

[RedJohn]

Leasing or buying property stateside, then storing or burying your gold there until your return.......

I purchased a piece of land in Florida, but I did not do my homework (it was to help a friend) and there is 35k in back taxes on it and they can come take it anytime. Plus it is in the middle of a city, and burying may not be an option. Too many prying eyes.

[TroubleShooter]

Yeah, i have thought of that, but the gold is not in my hands, and if these companies go under I am out of it.

Those are phyiscal gold in your hand just they are IRA approved...............

[bacpacker]

Rj I don't really trust banks or buisiness's like that either. It was just an option I thought might be available.
I have no idea about laws/rules about metals transfer from Europe to here. I do know back in 1999 I brought a variety of coins, both old and new, from Austria when I came back after a couple months on a job. NO GOLD involved, silver only.

[ladyhk13]

Can you clarify for me? You are getting the money over there and exchanging it to US dollars while still there, right? Then you will be moving back to the US within what time frame?

[RedJohn]

Can you clarify for me? You are getting the money over there and exchanging it to US dollars while still there, right? Then you will be moving back to the US within what time frame?

I have 8.5 in the US right now. 6k in cash coming back with me (cannot go above 10k without hassle) then 40k wire transfer. I bring all in the US on vacation, do my purchase then go back for 12 to 18 month. I then move back definitely and use the money from the gold sale to start a business.

if gold increases another 20% in a year, this is a lot of dough. I guess, banks will not close within then, but you gotta be prudent a little.

[RedJohn]

Rj I don't really trust banks or buisiness's like that either. It was just an option I thought might be available.
I have no idea about laws/rules about metals transfer from Europe to here. I do know back in 1999 I brought a variety of coins, both old and new, from Austria when I came back after a couple months on a job. NO GOLD involved, silver only.

It is simple. You can bring anything as long as you declare it if it is above 10k. Under that anything under any form is OK.

But the thing is that gold would be a nice investment, but I need to keep it safe. I have no problems with IRS knowing as I declare my revenues anyway.

I just need to keep it safe for about a year somewhere.

Maybe a hole in the Everglades :)

[bacpacker]

I figured there was an upper limit. I only had about $1000 when I came back. Good luck in the search.

[izzyscout21]

I have a bunker.................

[bacpacker]

I have a chicken coop, well close to it.

[RedJohn]

I have a bunker.................


I have a chicken coop, well close to it.

Funny boys.

[izzyscout21]

Just sayin........

[LUNCHBOX]

It may depend on how soon you will be coming here. If you deposited the $$$ in an international bank until you got here. Then you could purchase all you want and the $$$ would only be banked a short period of time, that's assuming you don't want to travel with the $$$ or gold.

[ladyhk13]

RJ, don't you have any family that live in a place where you could maybe build one of those very small tornado shelters? We have them all over he place here. No one would think twice about it with the weather patterns we have been having and there must be some way to lock it and position it so it wouldn't be seen from the road and even bury the entrance once the contractors are gone. You could (should) just buy your gold here in the states since the price goes by the oz anyway if you are buying from a good company (or if you are going through Bahrain they sell it for the going rate only...nothing over spot and just ship it over here in the mail and insure it) and then you don't have to worry about carrying it on the plane or hiding it in your luggage.
If you have no family you can trust, are you able to buy a small piece of land out in the middle of nowhere or very small farm town? NOT in Fl but maybe in a less populated state where you have friends in the area? Just some thoughts.

[Sniper-T]

Buy easily sellable items, even if you have to take a bit of a hit on them. A family friend still has huge cash holdings in Eastern Europe, and he makes a trip there twice a year. he comes back with some HEAVY Jewelery for both him and his wife. $20,000 in rolexes each, gold, platinum and diamond rings, bracelets, Necklaces, etc. They just wear the stuff home. They both wear a lot of jewelery normally, and for these trips will wear cheap 'costume' stuff there, so if they are ever questioned (which they haven't been) there are records of them having it (Airport photos).

He sells much of it through jewelery stores back home, mostly on consignment, or just has it melted down.