Emigrating with large precious metal savings

Suppose one were to sell their house and leave the UK. Due to loss in confidence in the pound and the banking system, and a feeling of an imminent run on one or both, he converts the money from the sale of his house and his savings, into bullion.
Is there anything he needs to be aware of, walking past UK customs, with half a million pounds worth of precious metals?
How can he make sure there are no problems?
The money of course is 100% legit.
Reply to
ab220813
You don't actually pass through UK customs when leaving the country, although you would still be subject to any relevant laws.
It sounds like you are just asking for trouble by doing things in such an unusual way. At the very least you should be fully prepared to explain how you came to be in possession of the bullion, and what the source your wealth was. Those questions may be asked not just in the UK but also when you arrive in whatever country you are going to.
The question is, why would you want to do it that way? If you are emigrating to live somewhere else then you will need money to set up your new life overseas. Why not just transfer the money legally through the banking system as most other people would do? If you do thinks in such a suspicious way then you are only going to attract attention to yourself.
How about telling us what you're really up to? You're not actually emigrating with the legitimate proceeds of the sale of your own home, are you?
Chris
Reply to
Chris Blunt
In gold it is about 28Kg in weight (a bag of cement). Ryan Air will charge half the value in excess baggage charges. You probably would have lost lose 20% of the value of the house with VAT charges with the purchase of the precious metal. You probably would have too much trouble getting it out of the country but it may mysteriously disappear in transit in other countries.
Reply to
alan

BeanSmart website is not affiliated with any of the manufacturers or service providers discussed here. All logos and trade names are the property of their respective owners.