What is the best way to buy gold here in Taiwan, from the jewelry stores or Costco or banks?
if I want to buy 100-200 g of 24K gold, from where should I buy, I see many online deals on PC home, momo and shopee are they trusted or it’s always better to buy from stores?
You can check out Truney.
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Just be aware of gold limits when exiting Taiwan. You can bring in as much as you like, but there are limits when leaving. If you exit with more than US $20,000 you need an export permit.
Costco seemed like the best choice when I looked into it a few years ago.
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no plans to take it abroad but good to know
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This is what I’m wondering about
I haven’t actually seen gold in the stores tho for a couple of months. Maybe they stopped selling it
I mean buying from jewelry store vs Costco or Truney
and any jewelry store is trusted or no
What does the export permit involve? Is it just so they know where it came from and no money laundering is involved?
Personally I would trust Costco over a jewelry store, will also be cheaper.
The other option is Bank of Taiwan, I remember their rates are quite good.
You can check their offerings here:
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Thank you, yes this also a good option, not too much different from Costco.
Personally though, I wouldn’t want the government knowing how much gold I have, and I would imagine Bank of Taiwan requires a form of ID when purchasing gold from them.
Good point 
I think even from Costco they know!
I don’t know. I just made sure that my wife and I had less than the 20K.
Yea I share your opinion on this, but money laundering is a thing which is why it’s kinda their business if you’re moving a lot of money across borders.
And since you’re never really entitled entry into a country except for ones you’re a citizen of (well except Australia during covid), it’s their business to know if you’re moving millions of dollars of gold around.
A lot of organized criminals do this after all.
Then you got tax implications.
The government doesn’t care about you moving money around, but they want to know about it and where the money comes from.
Or you can move to the land of the free where some cop can just rob you blind under civil asset forfeiture.
This is the best gold shop I’ve found in Taiwan:
Best prices, even if you have to make a trip to K-town. Honest boss. He uses an XRF (X-ray fluorescence) machine to quickly verify the purity of gold he buys and sells so in and out is quick and risk-free.
He pays by wire transfer while you wait in his office. Takes about ten minutes. As far as I know he leaves any declarations up to you.
Also important, when reselling physical gold…prove it is authentic and above board. This requires seals and paperwork. Some people like coins, from certain countries, for things like this. But obviously you pay a premium. If you are in the market for bricks, not grams, theyvhave similar level “branding”. But coins seem easier in small quantities.
Good luck cashing a Taiwan coin when China runs the rails. The Fiji coins? No idea. Canada tends to have a pretty good reputation on mint.
I am just running my mouth, but resale should be your main point of concern. Not simply whatever value the market says its worth.
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Kitco is another bullion dealer
Hence assaying fees, as there’s all kinds of people selling gold plated tungsten to try to scam people. I’m not sure what the rules for most companies that buys them. I guess this is why gold account is a thing. Gold is kept at a secure location and so their purity is never in question. Downside is you never touch the gold.