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Bringing gold bullion into Mexico?

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Bringing gold bullion into Mexico? Empty Bringing gold bullion into Mexico?

Post by Mainecoons on Thu Jan 13, 2011 2:24 pm

Interestingly, you are not required to declare gold bullion you're carrying on you upon exit from the U.S., even if it exceeds the $10K limit. But what about when you arrive at the airport in Mexico? Are you required to declare it here and is it taxed under the $300 limit for bringing "goods" back?

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Post by 57Chevy on Thu Jan 13, 2011 6:05 pm

You could check with the mexican consulate on what they allow. Or the customs office...there is a website, but don't have it.
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Post by 57Chevy on Thu Jan 13, 2011 6:07 pm

Even your air carrier may know, they pass out customs info before you land in Guad, so they may be able to point you in the right direction to get info. I wouldn't know squat about gold bullion!! Not in that income bracket! Beer
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Post by 57Chevy on Thu Jan 13, 2011 6:10 pm

Are you sure you WANT to bring something that valuable with you??? To MEXICO for god's sake? Why not leave it in a bank in the U.S. Didn't you just hear about the robbery last week of $30,000 worth of stuff from a house lakeside? Hmmmmmmmmmmmmmmm. Maybe better to change the bullion into cash and purchase LAND in Mejico....that is the best bank there is in Mexico, LAND.
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Post by CanuckBob on Thu Jan 13, 2011 6:17 pm

Just have the gold bullion transformed into large, gaudy bracelets and then it is jewelery.....no problemo.
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Post by johninajijic on Thu Jan 13, 2011 6:41 pm

Mainecoons wrote:Interestingly, you are not required to declare gold bullion you're carrying on you upon exit from the U.S., even if it exceeds the $10K limit. But what about when you arrive at the airport in Mexico? Are you required to declare it here and is it taxed under the $300 limit for bringing "goods" back?


MC - And why would you even cosider bringing it to Mexico or for that matter even owning gold bullion in the first place seems dumb. Why not buy Gold Stocks or ETF'S. I decided to buy GLD ETF last year at $82.00 and it's now $133.50. Wished I bought it 5 years ago.

I bought a Silver SLW ETF on July 15 and made 50% more in two months. Everyone on here should buy Silver as the price will increase 25% or more this year. It went up 69% last year.
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Post by CanuckBob on Thu Jan 13, 2011 7:04 pm

I bought some "Precious Metal" funds and some "Oil based energy funds" two years ago. I am up 70% on the metal and 90% on the oil. That 2008 crash was the best thing that happened for me. I invested heavily in March of 09'. Now I just need it all to hold tight so I can cash in my chips next year and get the heck out of here.
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Post by Mainecoons on Thu Jan 13, 2011 7:33 pm

Question is, if the U.S. financial system collapses, will you be able to get at your stock or money?

Gold bullion BTW comes in sizes as small as one ounce.





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Post by hockables on Thu Jan 13, 2011 7:43 pm

If you wanted to do that... and I can't fathom why you would... you might go for gold certificates... much lighter... registered and insurable...
and you can still benefit from the expected rise in prices.... personally.. I think the projections for gold hitting 2K an ounce is a gross exageration...
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Post by 57Chevy on Thu Jan 13, 2011 8:35 pm

We ALL have a right to our perspectives. I still say LAND in Mexico is the way to go. If you buy in the right area. That's where Mexicanos "bury" their money. I am also afraid of the possible collapse of the American system....maybe this guys got an idea...real gold you can hold onto...just put it into small enough pieces you can use it to trade if you need to, and get a place to HIDE it that is safe and secure. WWII....gold was one of the only things that had market value - remember the Nazis plucking it from the mouths of the doomed? Sorry, I'm tired and had too much wine with dinner.
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Post by Intercasa on Thu Jan 13, 2011 8:47 pm

There may be a declaration necessary as I did read an article about people having their gold seized. Mexico is kind of quirky on declaring entry of valuable, for example people had sent checks for purchases of real estate and they were seized as Mexico felt that they violated the rule of not disclosing entry of more than $10,000 in an instrument which is copied from US law while in the US only a bearer instrument would be a violation.

http://www.informador.com.mx/jalisco/2010/177792/6/detienen-en-aeropuerto-a-sujeto-con-15-mdp-en-oro-y-plata.htm

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Post by ajijic10 on Thu Jan 13, 2011 9:25 pm

Mainecoons wrote:Question is, if the U.S. financial system collapses, will you be able to get at your stock or money?

Gold bullion BTW comes in sizes as small as one ounce.

Solovino, get a life.

Dan, Dan, Dan. If the US system collapses, Mexico (and the rest of the world) will collapse sure as hell and all the gold bullion in the world ain't gonna save your sorry ass from a hideous and painful demise. If you really think that gold bullion is the answer to a worldwide economic collapse.

Edited - Personal attack

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Post by Solovino on Thu Jan 13, 2011 9:36 pm

I'm picturing a Fred Dobbs-esque ending to this little adventure.

"Well sure! You're old...I'm young. I need dough and plenty of it."

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Post by CanuckBob on Thu Jan 13, 2011 9:41 pm

The best bet for "the financial apocolypse" is to have a nice little place in sunny, warm Mexico all paid for. Get off the grid as much as possible (solar power, generators, etc.). Then you can raise your chickens and grow your own food in your back garden and not have to rely on anyone........Can't do that in Canada. You'll freeze and starve to death.

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Post by oncesubtle on Thu Jan 13, 2011 10:14 pm

Aijic10, Ajijic10, Ajijic10 I think Dan's strategy was to have some gold in reserve here and I agree with him (there is a first time for everything). But I think Bob's thought is the best one.
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Post by ajijic10 on Thu Jan 13, 2011 11:04 pm

oncesubtle wrote:Aijic10, Ajijic10, Ajijic10 I think Dan's strategy was to have some gold in reserve here and I agree with him (there is a first time for everything). But I think Bob's thought is the best one.

Oncesubtle, Dan mentioned "financial collapse", not I. And if you think that Bob's idea is the "best one", well, that's your opinion and so be it. But let me ask you this: Do you really think that if there is a financial collapse in the US and here in Mexico, that you'll just be able to raise chickens and live happily ever after in the Mexican sunshine. After the way the US and many of the ex-pats here have treated Mexico and Mexicans for many centuries, I'm afraid we're all going to end up hanging from the telephone poles (and I'm afraid our Canadian friends are going to be tarred with the same brush).

You're living in a fantasy world my friend.

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Post by oncesubtle on Thu Jan 13, 2011 11:12 pm

Good points and well considered ajijic10. In a perfect world I would like to be sitting on a couple of pounds of gold right now. But I'm just sitting here with some Jack and a few joints. mariachi
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Post by ajijic10 on Thu Jan 13, 2011 11:18 pm

oncesubtle wrote:Good points and well considered ajijic10. In a perfect world I would like to be sitting on a couple of pounds of gold right now. But I'm just sitting here with some Jack and a few joints. mariachi

Well, enjoy the smoke and "salúdame a tío Jack, por favor". Buenas noches.

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Post by Mainecoons on Fri Jan 14, 2011 6:56 am

The world is no longer dependent on the U.S. to keep operating. There have been innumerable currency collapses in history brought on by exactly what is going on in the U.S. now, unrestrained printing of unbacked currency. While this is going on, the Chinese are quietly backing their currency in gold and positioning to replace the U.S. dollar as the reserve currency. When this happens, you are looking at the dollar price of the obscene amounts of oil the U.S. imports doubling or more. Only a fool would not understand that this would cause collapse.

People who are a lot smarter than any of us are accumulating gold quietly and rapidly. You know, like that dummy George Soros. The topic of this thread was bringing gold to Mexico. They do have safe deposit boxes and banks here and you can bet that Mexico's wealthy, numerous examples of whom live around us in Ajijic, have some. The negative comments by some of you about this country are also pretty interesting, I can't imagiine why any of you would live in a place in which you have such a low opinion of.

Edited -Personal attack outside of Octagon
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Post by Intercasa on Fri Jan 14, 2011 9:37 am

Gold? I'd stock up on guns as if I have a gun and you have gold, guess who will end up with both in the end?
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Post by CanuckBob on Fri Jan 14, 2011 9:47 am

Hahaha.......yeah I left that part out of my "living off the grid" reply above. Yes, you need some hardware..........kind of like the old Mad Max movies.
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Post by bimini6 on Fri Jan 14, 2011 10:03 am

Interesting topic, I pray none of this happens but if it does, watch out Bob I may be moving over to your place.

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Post by hound dog on Fri Jan 14, 2011 11:53 am

Does one have to pass a test to belong here? Gold, like all substances whether rendered on paper or mined from the earth, is only valuable as a medium of exchange and then only if there is another commodity owned by others engaged in commerce and producing something of value who wish to exchange those commodities for gold or something else they conceive of as valuable as all things are basically worthless in the first place except as valued by others who have value to give in exchange. If the world´s economy collapses your gold certificates will be worth the same thing as those Confederate bills my great great great grandaddy left my grandaddy meaning you can use them to light your cheap Tampa cigar and if you own gold in amounts worthy of generating commerce there will be a thousand reprobates out to steal that commodity who will cut your throat in ten seconds for all that worthless mineral and then they, themselves will be killed and pretty soon we have a reprise of Walter Huston´s Treasure of the Sierra Madre where eventually the gold dust, as yourself, blows off in the wind and there you are, recycled to support life to come and personally dead as a doornail.

Get serious.
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Post by Mainecoons on Fri Jan 14, 2011 1:09 pm

When paper is worthless, gold is not. When a government starts wholesale printing of money as this one is, the end result is always inflation and collapse and wholesale devaluation and much suffering and political/social upheaval. Think "Weimar Republic."

Here's an interesting analysis of why democracies all go broke. I like it because it fits with what is really going on here, that regardless the party label, it all moves in the same direction and to the same end.

Anyone who thinks that BO is the only reason the country is going broke, or that GWB caused all this, needs to read and understand. I particularly like how he explains the idea of economic incoherence. This is not about political parties, it is about the inborn tendency of democracy to economically self-destruct.

Enjoy.

http://gonzalolira.blogspot.com/2011/01/why-democracies-will-always-go-bankrupt.html
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Post by Solovino on Fri Jan 14, 2011 1:21 pm

I seem to recall MC giving all of us the definitive lecture on the housing bubble back in 2006 or 2007. Said there was going to be a brief adjustment and the housing market would rebound within 6 to 8 months. It would affect only certain areas of the country etc.

He'll be citing Lyndon LaRouche before you know it.

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