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  #11  
Old 04-08-2012, 08:40 AM
TheAccumulator TheAccumulator is offline
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Quote:
Originally Posted by matadordesevilla View Post
I was in Shanghai all of Feb 2011 and I could only find 2 dealers, one on Nanjing Lu [a small place], and another out on a subway line. Both prices were higher than US, I thought.
Anything on Huaihai Lu yet?
I was walking down Huaihai Lu today but only for a few blocks, so I can't really say for sure. The location on Nanjing Lu is part of a chain and they gave me a brochure with a half dozen other locations on it, but they were all in Chinese so I've got no clue where they are located. This particular location is just a few buildings west from the fake market and probably 6 blocks from the Ritz and JC Mandarin, heading east.
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  #12  
Old 04-08-2012, 04:49 PM
kidthief kidthief is offline
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Sorry guys, I intended to say gold plated over tungsten. Since they only have fractional gold I would be less worried, it could easily be test. If it was bigger like 5oz to kilo bar, I would be more worry.

From a scam point of view, opening a shop at the location would be "prefect" in my mind. Potential buyers would be less suspicious at such a location. I don't know about the rent, but I think a few 5oz fill with tungsten would be more than enough to cover overheads. Seldom do people open the assay and physically touch the gold bars, and weight it. The possibility of someone discovering the bars before profit/scam is rather low? After all, no one in their right mind would be in this business for the long term, but the profit is usually addictive. Once it is discovered, simply set it up somewhere else (another city), or after a cooling period different location in the same city.

I've heard from friends that it is hard to get sealed 1oz GML, I guess you are a lucky person TheAccumulator, it is easy to get sealed fractional, just not the 1oz coin.

Hello apoch, I always thought of importing silver into China, but it seems there is a lot of paper work, plus there is a restriction on how much money one could wire from China, difficult to free up cash flow etc.

Just curious, does anyone actually buy from kitco in shanghai? Their price is by far the highest I have ever seen.
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  #13  
Old 04-08-2012, 06:17 PM
yellowsnow yellowsnow is offline
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Quote:
Originally Posted by kidthief View Post
Sorry guys, I intended to say gold plated over tungsten. Since they only have fractional gold I would be less worried, it could easily be test. If it was bigger like 5oz to kilo bar, I would be more worry.

From a scam point of view, opening a shop at the location would be "prefect" in my mind. Potential buyers would be less suspicious at such a location. I don't know about the rent, but I think a few 5oz fill with tungsten would be more than enough to cover overheads. Seldom do people open the assay and physically touch the gold bars, and weight it. The possibility of someone discovering the bars before profit/scam is rather low? After all, no one in their right mind would be in this business for the long term, but the profit is usually addictive. Once it is discovered, simply set it up somewhere else (another city), or after a cooling period different location in the same city.

I've heard from friends that it is hard to get sealed 1oz GML, I guess you are a lucky person TheAccumulator, it is easy to get sealed fractional, just not the 1oz coin.

Hello apoch, I always thought of importing silver into China, but it seems there is a lot of paper work, plus there is a restriction on how much money one could wire from China, difficult to free up cash flow etc.

Just curious, does anyone actually buy from kitco in shanghai? Their price is by far the highest I have ever seen.
again, i think u r a worry worm

this is just my opinion as i've never been to china or hong kong before. Seeing how the chinese gov't want their people to own pm, i'll be damn if the commie gov't would go easy on crooks scamming their people on gold and silver especially in broad daylight of nanjing lu. Of course tho, flushing out scammers selling americans of fake toothpaste and fake morgans takes a different priority

if u want to be certain of getting honest gold with low prem, i would buy from hong kong.
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