Jim wrote:

> Eric Takabayashi wrote:
> >
> > Do you know ways to send more money, or more cheaply? I'm thinking emergency
> > medical bills, living expenses, legal bills, or down payment or cash payment
> > on a house.
>
> Take a look at https://www.foreign-currency.com/home.asp

Hi Jim. Thank you.

> These guys will send unlimited amounts of Japanese yen from the US to Japan
> for $35 per wire.  They also charge about a 7.1% currency spread.  Don't know if
> you can do better from wherever you have your money stashed away.

I am pretty sure my bank at home could beat that exchange rate, and I have a joint account
with my mother to facilitate transactions.

> I think that for large currency movements, the currency spread costs the most.

There was the time around '95 when the yen lost about five yen against the dollar during
the week it took me to get to Hiroshima Bank and for them to execute the order to transfer
some funds. That hurt.

> You could also buy a huge number of traveler's checks, and have them converted
> to yen in Japan if you can find a spread less than 7%.  The site above will sell
> you Japanese yen denominated traveler's checks as well, for a slightly lower
> spread.  But still a bit over 7%.

Banks' rates for converting US traveler's checks to yen are better than cash.

> But if you're wiring say $30,000 a 7% spread is $2100.  Buying a house outright
> will require you to seek out a cheaper method of moving the money, or else
> you'll be subjecting yourself to depression and hatred for the banks and
> their huge fees!
>
> You might want to check your bank and see if they'll buy gold bullion bars...
> there are places that will mail the goods to your US address for
> free:  http://www.golddealer.com/index.asp

I have considered bullion and collectible coins. I favor how this site sounds.

http://certifiedmint.com/introduction.htm

I'm afraid I don't believe optimism in silver futures (may surpass gold, right), or the
long term performance of gold.

There may be something to buying newly issued US .999 pure silver dollars for say, $9.95
each, and watching them appreciate to $14.95 or more in a few years. The problem there is
how much people would actually buy my collection for.

> Buy a ticket home, visit the relatives, collect your gold and lie to
> the customs folks about your baggage!  If necessary... I don't know Japan's
> laws concerning gold bullion imports.

1 oz. gold coins are compact at about $400 each, but a handful of metal through the
scanner would probably attract attention.

> The guys above buy/sell gold with only a 3% spread.  But you are exposing yourself
> to price fluctuations between your purchase in the US and the sale in Japan.
>
> Or you could open an account with an investment bank like Merrill Lynch
> that has offices in the US as well as Japan.  Maybe there is a financial
> instrument you can fund with your dollars from the US, and liquidate in
> Yen in Japan to bypass the forex spread (Yen futures?).

I will never get over not buying Yahoo! or Yahoo! Japan shares.

> If you want to move
> enough money to buy a house outright in Japan, this may be the way as there seems to be
> ways for the rich to move their money about at low cost.
>
> -Jim