How Did He Smuggle That Gold?

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Don’t Smuggle Gold – Sell Your Gold

Sell your gold to Spring Hill’s Coin Shop & Gold Buyer Serving Dade City. Vermillion Enterprises!!

We are also buying – SILVER, PLATINUM, PALLADIUM, & RHODIUM Jewelry.

In addition to other Precious Metals Items. Think you have something off the wall? No worries. If it’s got a Precious Metal in it, we just may surprise you and buy it!

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The Gold Smuggle

A passenger arriving from Dubai at Kannur Airport in Kerala, India was stopped. He tried to avoid paying an 18% tax on his gold bars. How? He smuggled them on an airplane. In his rectum. Approximately, 2lbs worth of gold. Confiscated by airline officials.

 

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How Did He Get Caught You Ask?

Simple. He was spotted with an unusual walk. I’m guessing that’s one with his cheeks tucked in. Trying to stand very straight. And walk very carefully.

Apparently, another passenger on the same flight was stopped as well. He was trying to smuggle in 3.2lbs of gold into India. However, it is unknown how he was spotted to be transporting gold.

That may leave one to wonder – is it gold or is this fool’s gold!?

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Why All the Smuggling?

India is BIG into Gold. There are Historical backings. As well as Religious & Cultural Significance, etc. But, India has policies dating back to the 1960’s. Which have created a monster: Gold Smuggling.

In 1962, the Gold (Control) Act was introduced by Morarji Desai. Who was Union Finance Minister at the time. Desai recalled all gold loans extended by banks. Furthermore, banning all forward trading in this precious metal.  But another blow was about to happen. An amendment was filed the next year. Production of jewelry above 14 Karat fineness was now banned.

Gold Smuggling

Then, in 1968 came the biggest blow to the Indian gold consumer. Yet another amendment! This one banned everyone from owning gold bars and coins. Including licensed dealers. No one could own more than 2kg of gold.

Thus, a majority of gold trade in India was done on the Black Market. Hence also, why there is MORE gold under 14K displayed and jewelry created now.

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Don’t Smuggle Gold – Sell Your Gold

Sell your gold to Spring Hill’s Coin Shop & Gold Buyer Serving Dade City. Vermillion Enterprises!!

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If you are looking for THE Coin Shop, Bullion Dealer, Jewelry Buyer, & Gold Dealer near you. look no further.

Vermillion Enterprises is just that. We are the area’s largest Coin Shop and Gold Dealer.

Serving ALL OVER Florida. From Spring Hill to Zephyrhills to Tallahassee and Jacksonville. Even OUT OF STATE!

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But don’t be like “Bob”. Don’t smuggle your gold. Instead, buy or sell gold with Vermillion Enterprises.

Paying Top Dollar for Your Gold.

Scrap Gold. Gold Jewelry.

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Check out Vermillion Enterprises: How to Properly Store Your Gold & Silver Coins video on You Tube.

This includes NOT smuggling gold.

For more videos, blogs, and fun – check out our social media too!

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Vermillion Enterprises understands not everyone is a Numismatic (Coin) Collector or Safe Haven Precious Metal Holder. Some are looking for IRA investments. If you’re looking for IRA Eligible Gold, Vermillion Enterprises has a wide variety of Gold to choose from. First, let’s discuss how Gold falls into an IRA.

We are precious metal specialists. However, we are not IRA specialists. Therefore, we do request that you check with an IRA specialist PRIOR to making any purchases for IRA investments. Be all in on your investment.

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