A-Mark to Acquire LPM Group Limited

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A-Mark (AMRK) is one of the largest wholesale distribution companies in the precious metals space. In recent years, A-Mark has acquired a variety of dealers in the US, the largest being JM Bullion.

According to a recent press release, A-Mark is expanding their presence in the markets throughout Asia with the announced acquisition of Hong Kong based LPM Group Limited.

LPM Group Limited (LPM) is an established precious metals retailer and wholesaler that offers a variety of unique products and collectibles. Besides retail and wholesale trading of precious metals, LPM provides a range of services such as secure storage, buy-back options, and assistance with setting up precious metals IRAs for retirement savings. The company is recognized for its partnerships with major mints and its commitment to providing quality products and services to its customers.

An average from the most recent 3 year period prior shows that LPM has roughly 27,000 retail customers. Annual sales of precious metals include 108,000 ounces of gold and 6.3 million ounces of silver.

The acquisition price for all assets is reported to be $41.5 million, consisting of $37.5 million in cash and $4.0 million of A-Mark common stock. An additional $37.5 million in cash incentives for the company to reach specific EBITDA goals in the coming years.

In addition to JM Bullion, A-Mark has an ownership stake in a number of well-known bullion dealers such as BGASC, Silver.com, Pinehurst Coin Exchange, Provident Metals and BullionMax.

In the same announcement, A-Mark has announced that Pinehurst will acquire Modern Coin Mark (MCM) in a cash deal reportedly worth $5.5 million.

Pinehurst specialize in buying and selling gold and silver bullion, modern collectible coins, and numismatic rarities catering to both investors and collectors.

Established in 2004, MCM has grown to become one of the leading online retailers of modern coins, bullion products, and numismatic collectibles. MCM is known for its wide variety of gold, silver, platinum, and palladium coins from renowned mints around the world.

Apart from bullion, MCM deals in rare and collectible coins, primarily offering graded and certified coins by reputable third party grading services like NGC (Numismatic Guaranty Corporation) and PCGS (Professional Coin Grading Service).

Additionally, the announcement includes a joint venture consisting of A-Mark, Pinehurst and Stack’s Bowers Numismatics, LLC.

Stack’s Bowers Galleries is a prominent numismatic auction house in the United States, with a long and distinguished history specializing in rare coins, currency, and precious metals.

Stack’s Bowers has a reputation for handling some of the most significant numismatic rarities and collections in history, including the The D. Brent Pogue Collection. worth more than $200 million dollars. The $200 million collection included a number of notable coins from early American history during the period from 1792 through the 1830.

In 2021, the auction house made headlines when an ultra-rare 1933 Saint-Gaudens Double Eagle sold for $18.9 million, becoming the most expensive coin ever sold at auction. This coin is one of the last gold coins intended for circulation in the U.S. and was once owned by King Farouk of Egypt. It is the only 1933 Double Eagle that is legally permitted to be owned by a private individual, due to a unique legal circumstance.

Buying Guide: Vintage Fractional Gold Coins

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Fractional gold coins are one of the easiest and most affordable ways to buy gold coins. However, fractional gold coin premiums can seem extremely high relative to their full troy ounce counterparts.

When considering an investment in gold coins it is important to consider the premiums that you will pay over the gold spot price. For many investors it is more reasonable and affordable to purchase fractional gold coins more often rather than saving up to purchase larger gold coins.

The 1/10th oz American Gold Eagle coin is an excellent investment choice. However, dealer premiums on the 1/10 oz American Gold Eagle can often exceed 10-15%, sometimes even higher. Comparing premiums with the 1 oz Gold Eagle which you can often find with a much lower premium of 1% to 2% over gold spot price.

Fractional gold coins have been circulated as currency for hundreds of years. As a result there are many different vintage fractional gold coins available that carry a lower premium than their modern equivalents.

Latin Monetary Union Gold Coins

The Latin Monetary Union (LMU) was an early attempt at unifying Europe under a single currency standard during the early 19th century. LMU coins were developed around the French Franc standard under Napoleon I beginning around 1803. The most common gold coin of the time was the 20 Francs Gold Coin.

20 Francs Gold Coins

The 20 Francs Gold Coin is one of the most popular fractional gold bullion coins that you can buy at a low premium.

Each 20 Francs Gold Coin contains 6.45161 grams of .900 fine gold struck on a 21mm planchet. The 20 Francs Gold coin contains .1867 troy ounces of gold. The diameter of the coin is similar to that of a US Nickel coin.

20 Francs Napoleon III

The most common 20 Francs Gold coins were minted in France during the 19th century. They come with a variety of designs that feature portraits of various rulers of France. Popular designs of French 20 Francs Coins include Napoleon I, Louis XVIII, Napoleon III, “Lucky Angel” and the Rooster.

Throughout the time of the Latin Monetary Union (LMU), 20 Francs gold coins were minted and circulated in a number of different countries throughout Europe and other parts of the world. Other common variations of the 20 Francs Gold Coin include the Swiss Helvetia/Vreneli 20 Francs from Switzerland, 20 Lire Gold Coins from Italy, Belgian 20 Francs and many others.

10 Francs Coins

The 10 Francs Gold Coin contains half the amount of gold as the 20 Franc, 3.2258 grams of .900 fine gold. The 10 Francs Gold Coin contains .0933 troy ounces of gold, which is slightly less than 1/10th troy ounce.

When looking for vintage counterparts to modern American gold bullion, the 10 Francs Gold coin is comparable to the 1/10th oz American Gold Eagle.

The premiums on 10 Francs Gold Coins are typically around 12% over the melt value.

5 Francs Gold Coins

The smallest of the LMU Franc Gold Standard coins is the 5 Francs Gold coin. Each 5 Francs Gold coin contains 0.04714 troy ounce or 1.6290 grams of gold produced on a  16.7 mm planchet.

Less Common Gold Francs Coins

There are larger denominations of the gold Franc standard available, including both the 40 Francs Gold Coin and the 100 Francs Gold Coin. However, those larger denomination gold coins have become less common and can demand a higher premium due to their collectability and numismatic value.

European Fractional Gold Coins

1 Ducat Coins

The Gold Ducat was used as a trade coin in various parts of Europe during the late middle ages into the early 20th Century. Gold Ducat coins were minted using .986 fine gold, which is particularly high for a circulating gold coin.

Austria 1 Ducat Gold coin

Popular versions of the Gold Ducat were produced in Austria, Hungary and the Netherlands. Each 1 Ducat Gold Coin contains .1106 troy ounce of gold, slightly more than 1/10th oz.

Premiums on 1 Ducat Gold Coins are generally around 5% over their melt value. Their high gold purity and low premium makes them one of the most affordable fractional gold coins for investors.

4 Ducat Gold Coin

Based on the Ducat Gold Standard, the 4 Ducat Gold Coins contains four times the amount of gold as the 1 Ducat. Like the 1 Ducat, the 4 Ducat Gold coin is also minted from .985 fine gold and contains 0.4430 troy ounce of gold.

Great Britain Gold Sovereign

Great Britain has a history of minting many beautiful gold coins. One of the most popular British Gold Coins from England is the Gold Sovereign. The Royal Mint began minting the Gold Sovereign in 1817. Each gold sovereign coin contains .2354 troy ounces of gold. The Gold Sovereign is one of the most popular vintage gold bullion coins for investors and stackers.

Gold Sovereign with a Perth Mint Mark

Millions of Gold Sovereign coins have been minted since the inception of the series. You can often buy Gold Sovereigns for as little as 3% to 4% over the melt value.

Great Britain Half Sovereign and Quarter Sovereign

Other variations of the Sovereign standard include the half sovereign and quarter sovereign. These denominations are less popular among investors and can carry premiums much higher than the Full Gold Sovereign.

Gold Peso Coins from Mexico

Mexican Gold Peso coins are some of the most beautiful vintage gold coins in the world. While Gold prices fluctuate, the popularity of the Mexican Gold Peso coins only increases with investors due to the gold peso’s outstanding gold bullion value.

Gold Peso coins from Mexico appeal to investors and collectors alike for their high Gold bullion content and rich Mexican history.

Minted at the Mexican Mint in Mexico City, the Mexican Gold Peso is minted with 90% fine Gold and 10% copper. The addition of copper during the minting process gives the Gold Peso coins a hardness that pure gold alone cannot provide. With the presence of copper, the Mexican Gold Peso coins have been able to withstand the wear of circulation.

Six different denominations of the Gold Peso were minted to commemorate the centennial of Mexico’s hard won independence from Spanish colonial rule.

2 Peso Gold Coin

The 2 Peso Gold coin (dos Pesos) is the smallest denomination of the gold peso. Each Dos Pesos contain .0482 troy ounces or roughly 1.50 grams of gold.

The 2 Peso Gold Coin is a popular choice with investors looking to start to buy gold coins because the coins are one of the most affordable.

2.5 Peso Gold Coin

The Mexican 2.5 Peso Gold Coins were produced from from 1918-1948. Most of the coins on the market that are sold as 1945 2.5 Peso Gold Coins are restrikes that were produced between 1951-1972 and again in 1996.

Each 2.5 Peso Gold Coin contains .0603 troy ounces, roughly 2.0833 grams of gold bullion.

5 Peso Gold Coin

The Mexican 5 Peso Gold Coin contains .1205 troy ounces, roughly 3.75 grams of gold bullion. The premiums on fractional gold like the Gold 5 Peso Coin are often much lower than similar coins. Having a lower premium makes them an attractive investment for bullion investors.

10 Peso Gold Coin

The Mexican 10 Peso Gold Coin contains .2411 troy ounces, roughly 7.49 grams of gold bullion. The premiums on fractional gold like the Gold 10 peso Coin are comparable to other similar weight gold fractional coins..

20 Peso Gold Coin

The Mexican 20 Peso Gold Coin contain  .4823 troy ounces, roughly 15 grams of gold.

Many investors consider thedesign of the Gold Mexican 20 Pesos, or “Veinte Pesos”,  to be one of the most beautiful fractional gold bullion coins available. Their popularity with investors and stackers is due to their outstanding beauty and bullion value. As a fractional gold coin, 20 Pesos are an affordable way to enter into the gold market.

50 Peso Gold Coin

The 50 Peso Gold Coin was minted by the Banco de Mexico between 1921 and 1947. It is also commonly referred to as the Centenario Peso.  Each 50 Pesos Gold Coin contains approximately 1.2 troy ounces of pure gold. It was first minted in 1921 to commemorate the 100th anniversary of Mexico’s independence from Spain.

Zimbabwe Takes Steps to Move Towards a Gold Standard

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Amid an economic crisis with record high inflation over the last year, the country of Zimbabwe announced its plans to issue a gold-backed Central Bank Digital Currency (CBDC) as a way to facilitate easy payments and push for the adoption of local currencies over the US Dollar.

This week, finance minister Mthuli Ncube announced intentions to link the Zimbabwe dollar to the country’s growing gold reserves as the country attempts to stabilize the exchange rates and the economy by reintroducing the gold-standard.

In 2022, Zimbabwe enacted a law that required mining companies to pay a royalty on precious minerals and minerals to the country’s central bank. The royalty rates range between 5% for gold and platinum group metals and 10% for diamonds. Since then, the country’s central bank currently holds roughly 793kgs of gold in reserves valued at roughly $49 million at the current price with plans to grow reserves to around $100m.

Currently, the Zimbabwe gold-backed digital currency that was introduced in 2023, is in use as legal tender and a store of value alongside the Zimbabwean dollar and bond notes.

Zimbabwe has also expressed interest in joining the BRICS alliance, which has a strong preference for asset backed local currency transactions for international trade.

The land-locked Sub-Saharan country is home to a plethora of natural resources, such as large deposits of coal, chromium ore, asbestos, gold, nickel, copper, iron ore, vanadium, lithium, tin, and platinum group metals. Zimbabwe is a major exporter of platinum, cotton, tobacco, gold, ferroalloys, and textiles or clothing.

The country contains the second-largest platinum deposit and high-grade chromium ores in the world, with approximately 2.8 billion tons of PGM and 10 billion tons of chromium ore.

Leaders in Zimbabwe began the process of returning to the gold-standard in 2023 with the hopes of stabilizing its economy and establishing its local currency in global markets.

Costco Adds Canadian Maple Leaf Coins to their Lineup

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The large, big-box, members only retailer best known for bulk household goods has added silver and gold coins from the Royal Canadian Mint to their product lines as more investors stock up on precious metals.

Recently, Costco began offering Mint Tubes of Canadian Silver Maple Leaf coins, not long after the retailer began limited offerings of the 1 oz Gold Maple Leaf coin.

Enthusiasm by investors on social media shows a positive response to this trend, with many only posts expressing excitement over the convenience of bringing home investment-grade silver and gold to their, alongside oversized packs of toilet paper, laundry detergent and other household items.

Purchasing precious metals from Costco is only to their members and more than 32 million people can enjoy earning an automatic 2% cash back on club purchases. Additionally, credit cards rewards can offset any premiums further, with many credit card offers available that include an additional 1 to 2%.

With recent spot prices, the average price of a Tube of Maple Leaf coins is around $650, getting 4% in cash back rewards helps to offset the premiums that come along with buying precious metals online.

The 1 oz Silver Maple Leaf coin, introduced in 1988, embodies the Mint’s dedication to quality and innovation. Each coin contains .9999 fine silver, making it one of the purest silver coins available on the market. This commitment to purity, coupled with the coin’s iconic design, has cemented the Silver Maple Leaf’s status as one of the world’s most sought-after silver bullion coins.

The Royal Canadian Mint’s 1 oz Silver Maple Leaf coins stand as a testament to Canada’s rich tradition in silver craftsmanship and minting excellence. These coins are sought after for their purity, intricate design, and historical lineage.

Costco’s decision to sell precious metals is being viewed as a strategic way to tap into niche markets while exposing precious metals as store of value and wealth to their diverse customer base.

Costco’s venture into precious metals is also helping to set a new retail trend that blurs the lines between everyday shopping and investing. Shopping at Costco for Maple Leaf coins helps to bring awareness to a whole new class of investors who are poised to learn more and gain a better understanding of investment-grade silver.

While reactions on social media are mixed, with many traditional investors balking at the trend, this move undoubtedly positions Costco as a pioneer in integrating investment options into a traditional retail environment. After experimenting with selling American Silver Eagles, it seems clear that the decision to expand the available products is something that resonates with the majority of its membership base.

The coins are available for sale online only at random times. When they are available, they are limited to 2 tubes per member and they sell out typically within an hour.

References:

Costco Product Page

Gold bars for every budget

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Gold is the one thing that is universally recognized worldwide as a store of value. Virtually anywhere in the world where you can find a local coin shop or precious metals broker, you can exchange a gold bar for local currency.

Gold bars have become increasingly popular among investors for their affordability, flexibility, and convenience. Investment grade gold bars are manufactured by both private mints as well as government minting operations all over the world. Most are minted with 24k pure gold that refined to a purity of 99.99%.

They are available in a variety of sizes, from as small as a half of a gram, up to as large as a 1 kilogram. While the most common size is the 1 oz gold bar, it’s not always practical or budget friendly to purchase those on a regular basis.

Investing in fractional gold bars allows for more precision in investment size and it makes it easier to sell only a portion at a time compared to larger bars. They are an ideal choice for those looking to start small.

Many investors find that it is more affordable to buy fractional gold bars on a recurring basis as a convenient way to stack gold. Buying a few grams of gold every week or two quickly adds up to a full ounce.

PAMP Suisse is one of the most trusted names in precious metals. In addition to their Lady Fortuna gold bars, some new designs are available. Those include the Arabian Horse 5 Gram Gold Bar, which shows an Arabian stallion galloping across the desert dunes. The background is etched with a circle and triangle motif on a proof like surface. The reverse contains the same etched background along with the pertinent details related to weight and purity.

Stepping up in budget is the Rosa 10 gram gold bar, which features a simple, yet elegant, etch rose design on a smooth, polished background. These limited mintage bars have the PAMP Suisse hallmark stamped on the back with the purity, weight and individual serial number.

As much of the world uses the metric system, dozens of private refineries from all parts of world manufacture gram denominated gold bars. FindBullionPrices.com tracks the prices of products that are available for sale in the United States. While other weights may be available in other markets, in addition to the 1 gram bar, the most common fractional gold bar sizes found here are 20 gram, 10 gram, 5 gram, 2.5 gram and 2 gram.

We track prices of the manufacturers that are most commonly sold throughout the country, both through online dealers and also available in some local coin shops and other bullion retailers. In addition to PAMP, the list private mints that issue gram denominated bars include Valcambi, Emirates, IGR and Argor-Heraeus.

The variety of private and sovereign mints is greater for investors looking for larger gold bars.

How to Verify a PAMP Suisse Gold Bar? 

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PAMP Suisse has made it easy to verify the authenticity of their products with the Veriscan app that is available for the App Store for iPhones and iPads.

PAMP Suisse Veriscan Instant Authentication Mobile App

The surface of all precious metals have microscopic topographic features that are as unique as human fingerprints. Using the app, you can scan the front surface of the bar, allowing the app to interpret the surface topography of the bar, which is then compared against the data stored in the PAMP VERISCAN database. The app will display an affirmative result for authentic products and issue a failing result for products that it suspects may be counterfeit. 

The PAMP Suisse Veriscan Mobile Application can be used to authenticate gold, silver and platinum bars that are issued by PAMP Suisse, along with bullion coins and bars that are issued by a handful of other established mints that include the Royal Australian Mint, Bank of China, Lombard Bank Malta and UBS.

Larger silver bars and gold bars can be scanned from any of the six sides of the bar.

All PAMP Suisse Veriscan enabled products are issued with a unique QR code, when scanned with the app, allows the lookup of the specific bar’s topographic features that were scanned during the manufacturing process.

After scanning, the Veriscan app will open a corresponding page that contains all of the details of the bar, including its weight, purity, mint mark, and serial number. 

This allows you to compare this information from the mint with the information from the packaging of your PAMP Suisse product. If they match, you have a genuine PAMP Suisse product. Having the application verify PAMP Suisse products allows greater confidence in the authenticity of your gold bar. If they do not match, verify that the you’ve followed the provided instruction to determine if your product is counterfeit.

Instruction for scanning larger size PAMP Suisse Silver Bars and Gold Bars are available in the application’s menu. When scanning larger size bars, the Veriscan application provides options to choose which sides of the product will be scanned. Authenticating larger PAMP gold and silver bars is easy with the enhanced authentication option, which can scan any of the six sides of a gold, silver, or platinum bar. 

The PAMP Suisse Veriscan App can be downloaded from the Apple App Store directly to your iPhone or iPad for easy verification and authentication at home.

Silver Gold Bull 10 oz Bar at Spot Price Deal Returns

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One of the most popular silver at spot price deals is the 10 oz Silver Bar at Spot Price from Silver Gold Bull. This particular silver bar is minted by Sunshine Minting and contains a custom design that features the Silver Gold Bull charging bull logo. Click here to visit the Silver Gold Bull product page to learn more about this offer.

  • Minted with 10 troy ounces of .999 fine silver.
  • Obverse: Silver Gold Bull logo with a charging bull and the words “999 Fine Silver 10 Ounces”
  • Reverse: Silver Gold Bull logo and the words “Build your wealth in ounces” with the bull logo ghosted in the background

The silver at spot price deals that are offered by various online bullion dealers are a way for new customers to explore the ownership of precious metals with very low risk.

For many investors, 10 oz silver bars are the most popular choice as a store of value due to their compact size, low price point, wide availability and stackability. These bars are one of the most liquid silver investments and easy to sell when the time comes to liquidate your portfolio.

Silver Gold Bull is a well-regarded player in the precious metals market, known for its wide range of products, competitive pricing, and reliable service. They catering to both investors and collectors, each looking for quality and value in precious metals products.

Silver Gold Bull is known for offering competitive pricing on their products and provide market-driven prices for bullion that are aligned with the current spot prices of gold and silver.

Their website includes transparent pricing, price charts and market analysis, which can be beneficial for customers in making informed purchasing decisions.

This 10 oz silver bar at spot price offer is one of several available similar offers from reputable dealers. Currently, the available silver at spot price offers include:

Check out our silver at spot price deals page for more offers from other dealers.

Stacking Copper Pennies

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In mid-1982, the U.S. Mint changed the composition of the penny due to the rising cost of copper. Post-1982 pennies contain only 2.5% copper with the remainder being primarily zinc.

Collecting pre-1982 pennies can be a hobby that also serves as an investment in copper. The higher copper content in these pennies makes them more valuable as a commodity than their face value and post-1982 counterparts.

Melting down pre-1982 US pennies for their copper value is considered a form of defacing currency and is illegal in the United States.

The intrinsic value of the metal does not change the fact that thee coins are legal tender. Just like Pre-1965 junk silver, there are many advantages to having an easily recognizable coin compared to some melted scrap copper ingot.

Copper prices continue to rise resulting from the disruptions of several significant mining operations in recent months, such as the closing of the Cobre Panama mine in Central America. According to a report from the Economic Commission for Latin America and the Caribbean (ECLAC), copper exports from Panama account for 5% of the country’s GDP and more than 75% of the country’s exports. market supply of copper.

Collecting copper mon the practicality and profitability of copper penny collecting depend on copper prices and the feasibility of sorting and storing large numbers of pennies.

Each pre-1982 penny weighs 3.11 grams. Since there are 453.592 grams in a pound, it takes about 146 pre-1982 pennies to make a pound of copper. A typical 5-gallon bucket will hold around 200 pounds of copper pennies, around 30,000 coins with a $300 face value.

If it were to become legal to melt old pennies like Pre-1965 silver coins, based the copper spot price being around $3.80 per pound, the melt value of a full 5-gallon bucket is around $740.

In many areas, coin roll hunting for silver coins has become more difficult due to bank service cuts and closures and overall lack of availability of coinage. There are millions of Pre-1982 pennies still in circulation with a higher copper content. Take a look through your change cup and check the dates.

A bank box of pennies contains $25 face value, or 50 standard bank rolls of coins. For any practical amount of penny stacking, you might want to consider some type of automatic penny sorting system.

For those considering stacking copper pennies as an alternative investment, there are some DIY penny sorting setups available through both eBay and Amazon. These devices operate by comparing the weight of a sample coin to those passing through the mechanism.

If you’re still skeptical about the intrinsic value of pre-1982 copper pennies, have a search through some auctions and past sales on eBay to get a sense of the growing market.

World’s First Commercial Deep-Sea Mining Project Advances in Norway

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Interest in deep sea mining increases during precious metals bull markets. With increased demand for precious metals and minerals for electronics manufacturing and other purposes, investments in deep sea mining projects has resumed.

Gold, silver and other precious metals exist in ore deposits within the earth’s surface. This includes the surface underneath the oceans, covering over 70% of the surface. Deep-sea mining is considered the next frontier in the quest for gold.

The focus is primarily on polymetallic nodules, polymetallic sulphides, and cobalt-rich ferromanganese crusts which contain metals like nickel, copper, cobalt, manganese, and rare earth elements.

The extreme conditions of the deep sea lead to increases in cost, which is a reason why interest in serious exploration of these resources has been limited. In the ocean, miners and mining equipment are subject to extreme pressure, freezing temperatures, and corrosive elements. pose significant technical and operational challenges.

The significant technical and operational challenges impact the bottom line. While new technologies including Remotely Operated Vehicles, seismic and sonar imaging technologies and innovations in drilling and extraction. These advancements come at a high cost of technology and uncertainty in recovering sufficient mineral quantities can make deep sea mining a risky financial venture.

Despite these risks, there are some Arctic countries leading the way. Last month, Norway’s parliament passed an agreement that allows for opening up the countries waters to deep sea mining exploration, despite pushback from environmentalists and the fishing industry.

Aerial view of a strip mine

Despite years of improvements, there are still environmental issues effecting the industry. Mining operations can lead to the destruction of habitats and loss of biodiversity.

Already the largest oil producer in Europe, Norway’s politicians see this as a promising emerging industry that will create jobs.

Many see the advancement as a potentially lucrative opportunity. However, it is an industry in its infancy, fraught with environmental, operational, and financial risks. The potential environmental impacts, particularly on the largely unexplored and fragile deep-sea ecosystems, are a major concern and subject to ongoing international debate and regulation.

The nascent stage of the industry, combined with environmental concerns and regulatory uncertainties, makes it difficult to accurately predict profit margins.

The profit margins for deep sea mining are uncertain and highly speculative. While the potential value of deep-sea minerals is significant, the costs of extraction and processing are also substantial.

Customs agents arrest travellers trying to smuggle $240,000 of gold

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The problems from illegal mining in some parts of the world don’t stop at the local level. Illegally mined gold often needs to be smuggled long distances before it can be sold.

The Middle East and Asia are some areas where smuggling encounters are frequent.

In December, Customs agents in Mumbai recently arrested two travelers attempting to smuggle 24k gold powder encased in wax concealed in their rectum. The total seizure was roughly 2,048 grams, slightly more than 2 kilograms of gold.

The men claimed to have been paid to carry the gold and were in the process of transporting it from Saudi Arabia.

In separate incidents, authorities in India arrest two other passengers attempting to smuggle 3.497 kg of gold Lucknow airport.

In one incident, customs officials discovered the gold hidden inside a small coffee machine. On the same flight from Dubai, officials arrested a second man who had gold paste hidden in his rectum.

24k Gold Bracelet

Since 2018, officials at Lucknow airport have arrested over 100 passengers and seized around 255 kg of gold worth from smugglers.

It’s important to remember that precious metals are consider monetary instruments in many countries. Silver and gold are easily exchangeable for local currencies anywhere in the world. However, when traveling internationally with gold and silver bullion, any value above $10,000 must be declared to customs officials upon arrival or you can face arrest and seizure of assets.

In most cases, jewelry is considered an exception to these rules. There are a variety of 24k gold jewelry items that are popular with investors who travel internationally.