<<I am wondering if you can still sell your gold coin to Po Sang (or if they'd want to buy it), in case gold price skyrockets to, say $1000>>
I have never tried to sell physical gold, but had asked Hang Seng Bank whether they would buy my physical platinum hoard which was originally sold to me by them at USD 400 and below. Hang Seng no longer deals in platinum, since there is no bullion coins available in quantity. They indicated they would buy the platinum coins back at USD 60 (5%) discount from spot, reasonable, given the volatility premium/discount of the metal, and the fact that they no longer deal in the stuff.
Gold is money in HK, and it, in paper form, shows up on monthly statement along side everything else in bank wrap accounts.
Physical and paper gold serves 2 different purposes, as far as I am concerned; one is for hoarding, to prepare for kingdom-come-day, and the latter is for fun.
The father of aa friend in Canada had wanted to take his gold (kilo) bar down to the dealer for sale when gold was at 800 a whole lot of years ago, and he says the bar's sale was instead consumated on the bus ride with fellow passenger looking to buy gold.
Chugs, J |
