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Buying/Selling Gold and Silver in Colombia (Barranquilla and Medellin)

OK, I know this might seem like a wierd post to many, but bear with me.

I am looking to find out if there are places in Colombia, particularly in Barranquilla and Medellin, that someone could buy and sell gold and silver. Now, I am not talking about jewelry. I mean coins and bullion primarily.

In the US this is simple, there are coin stores and even pawn shops. But so far, I have not really seen anything like this here in Colombia. Part of my financial strategy for the next few years involves buying a fair amount of precious metals and am in need of a new source, now that I am married to a Colombiana and living down here.

I recently read about a 'Gold to Go' ATM in Medellin, set up by a place called the Banoro Value Store Compania. But I know nothing about this.

Does anyone have additional knowledge regarding these topics?

Thanks,
Joe

Hi JRC
I have investigated to see if it is possible too buy gold locally to resell in Europe.
Probably i don't have the good contacts.
It is difficult to the production place as it is considered dangerous.
If you try to buy with companies located in safe place the price is higher than Europe.

So for me this is blocked for now.

Also, I have big quantity of gold to sell in USA.
If you know buyers we can share the %

regards

Hi JRC.  Did you ever figure out where to buy gold/silver bullion in Medellin?  I live near Medellin and am also looking for a good source.  Married a Colombiana about 7 years ago and haven't looked back since.

Nope.

Part of my problem is that I am in Barranquilla, so haven't been able to track that lead down yet. It's not worth going on a trip just for itself, although I love Medellin.

So, still looking.

I'll be actively searching for the best dealers (or direct).  I'll update you in the weeks and months ahead on what I find.  I've been a member of Freedom Force International for several years and they swear by GoldMoney.  They do have good prices, storage facilities in several countries, or if you like, they will ship it (fully insured) directly to you here in Colombia.  If I can't find a good source, I will buy it from them.

Merrill

Hi

Great to see others interested in this as well.

Joe, thanks for initiating this conversation. I haven't found any other posts like this yet. Did you find anything more on you search?

Paal, I would be happy to hear what you have left for sale in the US if you are still looking for a buyer there.

And last but not least, Merrill, I didn't know about Freedom Force International, but I looked them up and will want to read more. Thanks for the mention.

Ok, on with what I can offer about finding gold and silver from my base here in Medellin.  I have searched and found some avenues. On the open market, the only one I found was set up with a professional store-front and a sufficient display of gold ingots. I can't remember but I think they had coins in half-ounce. But maybe it was just the one.  I thought their mark-ups were very expensive with at least three/four hundred dollars over spot price for an ounce and the commission rate was worse for smaller amounts. I didn't recognize the mint and I just didn't bother to investigate further with those prices.  There are taxes associated with importing stamped ingots and coins, 16% for business class imports and perhaps this is a factor for them. They were new when I found them and I should go check in on them.  If anyone is still interested in checking in on them then I can look up where I have the name of the store, address (close to city center in Medellin). I think I have a foto of the price list I got back then, about a year ago.  I am not certain about import duties and taxes for importing for private use/holdings. I would be happy to know if anyone has taken the risk to ship gold to Colombia, there are so many factors concerning this--including security after clearing the shipment locally.

I have found a few 1 oz. ingots for sale through a colleague of mine but he usually sells raw silver and gold. I bought these.  I have found a few coins (no more than 2.) none of them are what I would purchase-I am not collecting numismatics and these weren't common like Panda, Maple Leaf, Eagles, Roos, Francs, etc...

Raw materials can be found from the mines in dust, beads, or ingots. Purity can be very high (22-24) karats. Obviously you need to know what you are doing here, with the dealers, prices, purity checks, etc. 

I don't "buy/sell" commodities, I simply exchange monies, this is not taxable. Available here is silver and gold bullion bars & coins, the mined silver and gold as I explained earlier, and on occasion; rings, necklaces and other jewelry that has weight, these have proper stamps like 18k-Italy, these marks/stamps seem to be recognized and regarded as surety here. Feel free to email me at jeffreyclark[at]trescoronas.co and join the circle.

Kindest Regards
Jeff

AM quite interested in buying your gold? can we chat?

From visits to Colombia over a decade ago I remember a vibrant numismatic scene in Cali, Medellin and Bogota. Not as much going on in Cartagena at the time but still...

Trade was much more person-to-person in PM and this because of general financial conditions and security considerations meant that transactions of less of less than US$1000 are the norm.

Eventually, through contacts you will establish, you will find out where you can both buy and sell larger volumes of Gold and Silver at better spreads.

Good Luck!

I have gold 1 oz Krugerrand for sale Can any one help me out or point to a buyer?

Try inputting "Medellin numismatico" in google search. Your first hit should reveal one of the larger and more ethical Numismatists - coin and paper money dealers - in Colombia.

Due to ubiquitous forgery of gold coins it may be necessary to have the gold coin assayed, at your expense, to ascertain the value.

Please don't forget to recommend my posting if this has been of value to you.

I'm Oscar and I can tell youhow and  where do you find gold.
My number is xxx
Best regards

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