How to Buy Vietnamese Gold SJC Bars
The Saigon Jewelry Company (SJC) is a government owned company based in Ho Chi Minh City. The company enjoys a monopoly on gold bars manufactured within Vietnam. The gold used in these bars is pure Swiss gold, measuring 999.9 parts gold per thousand. This is the purest gold available on the market, and is used for bank to bank transfers, real estate transactions and by private collectors. Although SJC gold bars are in high demand, they are available to anyone with the money to pay for them. Follow this simple guide to learn how to buy SJC gold bars in Vietnam.
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Instructions
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Obtain a passport and a visa to enter Vietnam. Additional information on passports and visas can be obtained on the US State Department website.
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Make travel plans to go to Vietnam. Whether you use the services of a travel agent, or make the reservations yourself, you will need a round trip flight and hotel accommodations for the duration of your stay. There is a SJC location in every major city, such as Hanoi, Da Nang and Nha Trang, but your best option is to travel to Ho Chi Minh City.
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Visit the SJC retail outlet. If you intend to buy smaller gold bars, known as ingots, these can be purchased directly at the SJC retail store. This is primarily a jewelry store, but small gold bars can be purchased here directly. These gold bars weigh 1 gram, 5 grams, 10 grams and 25 grams.
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Go to one of the gold trading floors in Vietnam. In Ho Chi Minh City, SJC has partnered with four different banks to operate as many gold trading floors in the city. Asia Commercial Bank, Viet A Bank, Phuong Nam Bank and Eximbank all operate gold trading floors in partnership with SJC. These gold markets are open Monday through Friday from 8:00am to 5:00pm, with a two hour break from lunch. Gold bars as large as 1kg (2.2 lbs.) are traded in these markets.
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Tips & Warnings
Depending on how much gold you buy, you may be required to obtain an import/export certificate on the commodity. Check with the U.S. State Department and with the Vietnamese Customs Office before you attempt to leave the country with a large quantity of gold.
Resources
- Photo Credit Saigon Jewelry Company, Public Domain
