South America / Ecuador Gold & Silver

[Dlb]

Hi there looking for feedback on gold and silver in Ecuador , where to get , what is available , mint wise , getting precious metals in and out , would appreciate insight , experiences and information 

thank you 

[James32]

I think @stackerp5 may have a bit of knowledge on this type of subject. 

[stackerp5]

I don't have much experience in Ecuador per se, but to my knowledge they produce commemorative coins and sterling silver coins. I wouldn't know where to buy them as I've only heard of them. In other countries in South America, you can buy gold from the stock market which means you need a bank account in the country you're located in (usually involves becoming a citizen), and you have to buy a minimum of 250g of gold to withdraw a 250g bar.

Some countries still produce commemorative coins but they celebrate specific contemporary or historical events/coins. I would say the best place is to look on the Central Bank's (or National Bank's) website for the country you're looking to get bullion from. Sometimes checking their Ministry of Tourism website could be of help. Google Chrome or Brave Browser have a function that translates websites. You might be able to find coin collecting stores and they might have the occasional historical coin, which would be a nice pickup.

Thing is you don't really know unless you live there and every S. American country is different. There is a high probability many locals don't even know you can buy gold and silver bullion/coinage. 

If you are travelling there and expect to bring something back, I recommend not spending large amounts and trying to fly it back over. I've never been to Ecuador myself so I can be wrong, but shiny attracts attention even from airport security in a couple South American countries. I know in Brazil they didn't care, surprisingly, but Argentina did, for example. However it might just be the day, or terminal, as I've heard of people who haven't had problems in Argentina. Just make sure you have paperwork. Ask for receipts, etc.

I hope this rant is of any help. I'm just able to give general information unfortunately.

Edited January 14, 2023 by stackerp5