closed 1/4 oz South Korean Tiger Gold Medals

[morezone]

I'm thinking of ordering some Korean Tigers.  These are from South Korean Mint - Korean Minting, Security Printing & ID Card Operating Corporation (KOMSCO)

Some spiel:

The obverse of the new Korean Tiger Bullion Series Medal features a tiger, symbol of courage, power and good luck. A geographical representation of the Korean peninsula in Hangul, or Korean script, is on the reverse. KOMSCO plans to offer these bullion medals on an annual basis.

The medals will be minted on state-of-the-art machines and will incorporate anti-counterfeiting features. One example of such a feature is the changing appearance of the Hangul lettering as the medal is tilted and rotated. The Korean Tiger Bullion Series Medal will be struck in 0.999-fine gold, but other specifications have yet to be released to the public.

 

2016 Has been out for almost a year now and the 2017 is new.  2016 had a mintage around 4000.  2017 will most likely be more.  Although from the Korean Mint, these are classed as medals since they are not legal tender and are just investment gold.  The coins seem to have a proof like finish but they are classed as bullion.

I know there is a current trend to have "flashy" coins/medals graded these days.  These are sold as bullion in capsules and in a box.  As such, there is no guarantee on the quality but being from Korea, I'd imagine they will be top notch quality.

 

I am going to have along think about this over the weekend.  Full disclosure. I am only doing a group buy to bring my own coin costs down and I will be making ~£15 on each coin.  Please bear in mind that an international bank wire will cost you around £9 alone and I will be handling all aspects of ordering and customs etc.  To make it worth while there needs to be around 8 buyers. I might still go ahead if there is slightly less.  I aim to order on Sunday night.  Currently there is only 12 of the 2017 in stock so it's not a guaranteed order even if 8 people join.  If there isn't enough coins when it comes to ordering then it will be a first come first served basis but I won't order if there is less than 6 coins.

2017 will be £305 + £7.50 Special Delivery

2016 will be £320 + £7.50 Special Delivery

 

[shawy2510]

Pm'd

[SilverStan]

pmd

 

[mongo28]

Selling here for around £280
 
http://www.gainesvillecoins.com/products/176282/2017-south-korea-1-4-oz-gold-tiger-bullion-medallion.aspx

That's a nice price too!

[Chewy636]

I'm thinking of ordering some Korean Tigers.  These are from South Korean Mint - Korean Minting, Security Printing & ID Card Operating Corporation (KOMSCO)
Some spiel:
The obverse of the new Korean Tiger Bullion Series Medal features a tiger, symbol of courage, power and good luck. A geographical representation of the Korean peninsula in Hangul, or Korean script, is on the reverse. KOMSCO plans to offer these bullion medals on an annual basis.
The medals will be minted on state-of-the-art machines and will incorporate anti-counterfeiting features. One example of such a feature is the changing appearance of the Hangul lettering as the medal is tilted and rotated. The Korean Tiger Bullion Series Medal will be struck in 0.999-fine gold, but other specifications have yet to be released to the public.
 
2016 Has been out for almost a year now and the 2017 is new.  2016 had a mintage around 4000.  2017 will most likely be more.  Although from the Korean Mint, these are classed as medals since they are not legal tender and are just investment gold.  The coins seem to have a proof like finish but they are classed as bullion.
I know there is a current trend to have "flashy" coins/medals graded these days.  These are sold as bullion in capsules and in a box.  As such, there is no guarantee on the quality but being from Korea, I'd imagine they will be top notch quality.
 
I am going to have along think about this over the weekend.  Full disclosure. I am only doing a group buy to bring my own coin costs down and I will be making ~£15 on each coin.  Please bear in mind that an international bank wire will cost you around £9 alone and I will be handling all aspects of ordering and customs etc.  To make it worth while there needs to be around 8 buyers. I might still go ahead if there is slightly less.  I aim to order on Sunday night.  Currently there is only 12 of the 2017 in stock so it's not a guaranteed order even if 8 people join.  If there isn't enough coins when it comes to ordering then it will be a first come first served basis but I won't order if there is less than 6 coins.
2017 will be £305 + £7.50 Special Delivery
2016 will be £320 + £7.50 Special Delivery
 

You have sold me. Now I want one?

[morezone]

7 hours ago, shortstack68 said:

Selling here for around £280

 

http://www.gainesvillecoins.com/products/176282/2017-south-korea-1-4-oz-gold-tiger-bullion-medallion.aspx

Yes, that's where I will be buying from.  Anyone is free to buy from there themselves but unless they live in the USA, there is no chance you will be able to land it for £312.50.

As mentioned, I am going to be making around £15 which will be £305 - £15 = £290.  From that £290 will be shipping and banking/currency costs which will then take it to around the buy cost.

Not sure what the point of you post was since I was open about making money on it and yes, everything is cheaper in the USA but once add on shipping and any possible charges, it's no longer cheaper.

[richo]

Those look really nice. Very tempting.

Lets hope it's not a short series for geo-political reasons.

[morezone]

2 minutes ago, shortstack68 said:

The point of my post was to help find it cheaper, I didn't realise you were actually buying from there, I now know in future not to help. My apologies

By all means help but it would be helpful if you ran the numbers too to see if it would work out significantly cheaper or not since you already know my landed price is around £290.  But thanks anyway.

[morezone]

Just a quick bump to remind people that I will need confirmed decisions today.

 

[shawy2510]

Im in if it goes ahead

[morezone]

For anyone interested in a cheaper price, this dealer has some on pre-order: http://www.golden-coins.de/

[morezone]

I withdrew the purchase last night as there wasn't enough interest to make it viable.  For those interested in buying any of the other sizes or organizing your own buy among friends, here is some into/tips:

Gainnsville only accepts International Bank Wire payments for international customers with a minimum value of $2000 and shipping starts at $90.  They will also authorise a 10% charge to your credit card.  This does mean you cannot cancel an order or fail to make payment as they will most likely charge your card.  Not sure if you would win should you dispute it with your credit card company.  Just like Apmex, they will only take an actual Wire Transfer so you cannot use Transferwise/Currency Fair as they use ACH method for USA deposits.  You will need to use one of the more expensive currency brokers or your own bank.  Expect to pay charges in the region of £9-£15 as well as a currency exchange rate ranging 2-4%.

International shipping should be via UPS and hopefully the declaration is done correctly.  Ideally you should monitor the shipment on a regular basis.  Customs clearance is electronic so starts even before the package arrives in the UK.  You really need to look out for an "Exception" status where the item requires additional info before it can be finally cleared.  This will be a signed declaration to confirm that the package contains investment gold so will be exempt from VAT & Duty.  If the package is not flagged by the time it leaves the US then you really need to contact UPS ASAP and have them go over the customs clearance and amend it before it's finialised.  If the package clears and arrives in the UK without any issues and you have not made contact there will be 2 likely scenarios.  First possibility is that they will deliver the package and will invoice you at a later date (1-2 weeks).  You will need to dispute it but not sure how successful it will be.  Never tried UPS but Fedex was a waste of time.  If unsuccessful you could refuse to pay the bill but they could pursue you and all future deliveries will need to be pre-paid before delivery.  The other possibility is COD (cash on delivery).  Personally I would not pay them at the door since you shouldn't have been charged VAT in the first place.  Have them take the parcel back for redelivery and contact UPS to have them amend the clearance/invoice.  If they can't amend then you would have to either pay the bill and take delivery or have the package returned.  Either way it's not a good outcome.  

If the shipment is sent by USPS then any charges will be raised by Royal Mail/Parcel Force.  It should be a simple procedure to contact UK Border Force and dispute and claim back.  People have done it with numismatics charged at 20% instead of the 5% so I'd imagine it will be just as simple to correct for investment gold at 0%.

NEVER mix gold and silver in the same order.  It complicates things and creates hassle.

If you can, buy from the EU.