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Originally Posted by dragondweller
Greetings:
George Green mentioned having some gold coins ready to hop on a plane and go overseas. Is it even legal to do this? Don't you have to declare any amount over $10,000?
I have recently purchased a bunch of gold and silver coins, but I don't see myself being able to transport 80 1 oz gold coins overseas or 100 pounds worth of silver coins.
I'm trying to plan for the future. How do I go about tansporting my wealth overseas if I need to leave the country? I cashed out my IRA account, but have 60 days to resell 1/2 or more of the gold and silver I bought and put cash back into my IRA.
I'm trying to figure out the best plan for safeguarding my wealth and I think putting it all into gold and silver coins isn't practical and could be a very bad move if the value goes down and the economy/stock market stays stable and eventually starts moving back up.
Anyone have any ideas on the best plan of action for safeguarding wealth and being able to transfer it overseas? Can you trust a bank in Ecuador? How do you move gold and silver coins around? Thank you.
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Be creative. Find out what regulations are for Equador and have someone ship smaller seperate heavily insurred cash/valuables envelopes to you personally by Fedex whenever you are in Equador.
Whenever I buy silver in the US, to avoid taxes in Netherlands, a relative sends me seperate letters by USPS. But I would not do this with Equador.
You could bury the gold in Equador once you settled. Better keep it close to you.