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Gold and Silver bullion in the Philippines?


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dowhatuwill

Hi,

newcomer to living in Cebu here but something of a vetran to the Philiipnes ( been coming for 26 years) I was wondering if anyone knew if there was any such thing as a place in the Philippines where you can buy/sell gold and silver bullion in any form?

I have looked hard and come up empty.

For a country that produces a lot of gold and silver. the pure form of precious metals seems nigh on impossible to find! What's going on? Maaybe I'm just looking in the wrong places.

Appreciate anyone who can offer a clue.

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smokey

unless your store is like fort knox and you pay all the PROPER taxes and fees.. all you would do is invite trouble

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Davolives

I used to have a silver jewelry store in Mexico. There the govt regulates the sale of silver very strongly- so buyers are always guaranteed that what they get is 100% sterling silver- complete with .925 stamp. I only sold silver from Taxco - which has a world wide reputation.

I closed the store and had about 75 pieces left over-which i brought with me here to the Phi. I decided to sell it- and advertised it here for just the price of the silver content- and got zero replies to my ad. I put 15 pieces in a boutique owned by my atty for several months- and he sold just one piece. It seems that buying- or selling- precious metals here is a bit of a problem.

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dowhatuwill

I used to have a silver jewelry store in Mexico. There the govt regulates the sale of silver very strongly- so buyers are always guaranteed that what they get is 100% sterling silver- complete with .925 stamp. I only sold silver from Taxco - which has a world wide reputation.

I closed the store and had about 75 pieces left over-which i brought with me here to the Phi. I decided to sell it- and advertised it here for just the price of the silver content- and got zero replies to my ad. I put 15 pieces in a boutique owned by my atty for several months- and he sold just one piece. It seems that buying- or selling- precious metals here is a bit of a problem.

 

Thanks for the info.Pretty tough experience you had It certainly does seem to be a problem. I was thinking of 999+ silver rather than 925 sterling. very few countries charge any tax on the pure stuff but many do on sterling.

Cheers.

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Davolives

Thanks for the info.Pretty tough experience you had It certainly does seem to be a problem. I was thinking of 999+ silver rather than 925 sterling. very few countries charge any tax on the pure stuff but many do on sterling.

Cheers.

 

i actually had thought of taking it to a refinery and getting it melted down and purified to .999 - but couldnt find any place here to ask about it

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dowhatuwill

unless your store is like fort knox and you pay all the PROPER taxes and fees.. all you would do is invite trouble

I 'm not thinking of a store. I'm just a private dealer/invesotor. Silver is my thing rather than gold. Which is just as well since it's 40 times cheaper than gold.

cheers

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dowhatuwill

i actually had thought of taking it to a refinery and getting it melted down and purified to .999 - but couldnt find any place here to ask about it

 

Yes, there must be smeleters or fabricators...Seems a shame you had to sell jewelery just for the silver value.I see there are silver sterling jewelery shops springing up in cities here now. Might be due to the high price of gold putting it out of the reach of the average pinoy.

cheers

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Alan S

The Chinese area in Manila is the place to start looking.

There are numerous jewellery shops that buy/sell gold, and will surely have the contacts you require.

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smokey

i actually had thought of taking it to a refinery and getting it melted down and purified to .999 - but couldnt find any place here to ask about it

 

 

 

why dont you barter it for something you do need...... to buy silver is not as easy as to trade something you already have in exchange .....

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dowhatuwill

why dont you barter it for something you do need...... to buy silver is not as easy as to trade something you already have in exchange .....

I'll see if that works. Thanks for the suggestion.

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Davolives

why dont you barter it for something you do need...... to buy silver is not as easy as to trade something you already have in exchange .....

 

 

Thats my next step actually ! The problem I find is that the jewelry I have is so heavy that even selling it at metal cost a single piece is 1500 pesos or more, and they sell the little light pieces in the malls for 100-150 pesos [ not sure it is even sterling silver]. People here are often more interested in price than in quality .

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smokey

I'll see if that works. Thanks for the suggestion.

 

 

 

maybe that is a forum... topic I have this to trade ??? etc..

 

well i have a brand new 19 gallon electric water heater i dont need.... make me an offer in silver

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Davolives

maybe that is a forum... topic I have this to trade ??? etc..

 

well i have a brand new 19 gallon electric water heater i dont need.... make me an offer in silver

 

 

 

 

if i had a silver mine i would trade for a house with an elevator so i would have somewhere to stay when i go to cebu ! lol i always wanted to - ahem-kiss my gf in an elevator !! lol We all have our own particular fantasies !

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dowhatuwill

if i had a silver mine i would trade for a house with an elevator so i would have somewhere to stay when i go to cebu ! lol i always wanted to - ahem-kiss my gf in an elevator !! lol We all have our own particular fantasies !

[/quote

 

SOUNDS LIKE FUN.

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smokey

[]

if i had a silver mine i would trade for a house with an elevator so i would have somewhere to stay when i go to cebu ! lol i always wanted to - ahem-kiss my gf in an elevator !! lol We all have our own particular fantasies !

[/quote

 

SOUNDS LIKE FUN.

 

 

 

 

with only 3 floors you have to be quick ... well i guess you could hit the emergency button

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