BUYING GOLD IN JAPAN

[Silversurfer]

THERE’S GOLD IN THEM THAR HILLS

Bought some gold in 2022 in Kobe on a whim. Sold one year and one day later. Four ounces. Made a profit of just over 40,000 yen. Bought from a legitimate dealer in Kobe and then sold to DAIKOKUYA in Tokyo, the YAESU branch. Daikokuya seems to be some sort of junk shop/pawn shop/used goods/Gucci bags/Rolex watches kind of place. My first time in one. Went again a few months later.

Bullion is savings, more than investment. If you buy a gold or silver bar you’re buying something that will have value later on, which would not be the case if you were to blow your cash on champagne, hotel restaurants and gambling.

I also bought silver as a SPECULATIVE MOVE. I think the price will go up in five years and then I’ll sell at a profit. All 350 ounces. It’s not a GET RICH QUICK SCHEME. I have the silver in my possession. No middleman. No fees. I sell when I want to instantly. I get no dividends. So what? Big deal?

I don’t recommend precious metals to anyone who is not in it for the long term. I also don’t care for the “YEAH, MAN, BUT THE S&P 500 IS A WAY BETTER OPTION, MAN!” Yes, I have stocks, too.

Diversify, me hearties! Aargh!

[Tsumitate Wrestler]

THERE’S GOLD IN THEM THAR HILLS

Bought some gold in 2022 in Kobe on a whim. Sold one year and one day later. Four ounces. Made a profit of just over 40,000 yen. Bought from a legitimate dealer in Kobe and then sold to DAIKOKUYA in Tokyo, the YAESU branch. Daikokuya seems to be some sort of junk shop/pawn shop/used goods/Gucci bags/Rolex watches kind of place. My first and only time in one.

Bullion is savings, more than investment. If you buy a gold or silver bar you’re buying something that will have value later on, which would not be the case if you were to blow your cash on champagne, hotel restaurants and gambling.

I also bought silver as a SPECULATIVE MOVE. I think the price will go up in five years and then I’ll sell at a profit. All 350 ounces. It’s not a GET RICH QUICK SCHEME. I have the silver in my possession. No middleman. No fees. I sell when I want to instantly. I get no dividends. So what? Big deal?

I don’t recommend precious metals to anyone who is not in it for the long term. I also don’t care for the “YEAH, MAN, BUT THE S&P 500 IS A WAY BETTER OPTION, MAN!” Yes, I have stocks, too.

Diversify, me hearties! Aargh!

Physical PM is a pretty damn inconvenient way to diversify. Some Euro notes or USD would offer you the same diversification, and would be much lighter and more "fungible".

If real trouble strikes,.cash will be king for quite some time. Then resources.

I cannot see any reason to hold physical PM. Unless you really like the physicality. Then your making an emotional decision, which is fine.

[Silversurfer]

A lot of people agree with you, and that’s fine. I like to have many options, and I like knowing that the value of the gold in my pocket can increase during my 10-minute commute into the city.

I have cash, and stocks, and boring old bonds, and rental property - and cans of Spam and tuna in my getaway bag. And gold in one-gram increments. I’m ready.

Most foreigners in Japan are Chinese, Korean, Brazilian and Filipino. They have nothing to do with privileged Westerners.

I applaud your timely response.

[RetireJapan]

Most foreigners in Japan are Chinese, Korean, Brazilian and Filipino. They have nothing to do with privileged Westerners.

I applaud your timely response.

Welcome to the forum. You've been posting a lot since you joined. Please read this: https://www.retirejapan.com/forum/viewtopic.php?t=1175

[captainspoke]

...and cans of Spam ...

That'd be pretty far down my list of what to put in a getaway bag.

Tho maybe I'm a privileged westerner?

https://www.amazon.com/Ultimate-SPAM-Co ... 1497100720

[Tsumitate Wrestler]

Most foreigners in Japan are Chinese, Korean, Brazilian and Filipino. They have nothing to do with privileged Westerners.

I applaud your timely response.

Brazilians are westerns fyi.

I'm not American or European, I'm simply offering an example of diversification. And currencies do indeed rise and fall in value just as PMs do.

The question was why physical PM in light of all it's issues? You haven't really given a reason.

My Japanese mother-in-law who doesn't invest holds USD in Japan, some in cash, as an old-fashioned way of diversification. So I would be cautious about jumping to conclusions.

[Silversurfer]

Hi! I didn’t mean to offend you! Brazilians are not part of the First World. Diversification includes a lot of stuff. Currency, specie, precious stones, an extra credit card, doubloons, etc. I am prepared. If I end up in Laos or Cambodia my grams of gold will speak louder than paper money. I may be wrong about that but I’ll take the chance.

My getaway bag contains food that will last and requires no heating or refrigerator. I don’t like Spam or any of the other tinned meats in my bag but it’s practical. I also have tinned fruits and energy bars and chocolate. Photocopies of my passport and stuff.

Your mother-in-law sounds like a great lady!

[Silversurfer]

From a well-known Internet source:

“… Since the fall of the iron curtain the following countries are generally accepted as the Western world: the United States, Canada; the countries of the European Union plus the UK, Norway, Iceland and Switzerland; Australia and New Zealand. In addition, the microstates of Andorra, Liechtenstein, Monaco, San Marino, and Vatican City are considered Western…”

Have a nice day! I’m stacking silver bars! Aargh! Swab the decks!

[Chizakura]

In Japan I would probably recommand to get something like a gold ETF - preferrably one that does pure physical replication (i.e. buys and stores the gold itself in the amount of its funds). This will be much easier to handle and you don't lose the 10% tax. It's also gonna be comparibly safe unless shit really hits the fan. As a way to diversify your portfolie and reduce risk, I think this is a good idea. To do speculation... maybe not so much.

[Tsumitate Wrestler]

Hi! I didn’t mean to offend you! Brazilians are not part of the First World. Diversification includes a lot of stuff. Currency, specie, precious stones, an extra credit card, doubloons, etc. I am prepared. If I end up in Laos or Cambodia my grams of gold will speak louder than paper money. I may be wrong about that but I’ll take the chance.

My getaway bag contains food that will last and requires no heating or refrigerator. I don’t like Spam or any of the other tinned meats in my bag but it’s practical. I also have tinned fruits and energy bars and chocolate. Photocopies of my passport and stuff.

Your mother-in-law sounds like a great lady!

I think your conflating a few concepts here. Brazil was a first world country, under the classical definition. Brazil is also a western nation.

Brazil however is an advanced "developing economy" not a developed one, along with many other BRICS members.

....

USD still speaks louder. There is too much fake bullion and coins from China and elsewhere floating around.