Can you get fair price in BKK for Gold Krugerrands?

[Elkski]

Just wondering if you can get close to market price  for krugerrsnds in bkk?  If you can sell directly  to baht for a good price it may make sense to travel with some.   As a side question would this apply to the 20,000 baht airport requirement?  I have never in 7 trios been asked to show 20,000 baht. 

[Pravda]

You will get fair market price for 96.5% gold.

 

I sold some.

[NCC1701A]

21 minutes ago, Elkski said:

Just wondering if you can get close to market price  for krugerrsnds in bkk?  If you can sell directly  to baht for a good price it may make sense to travel with some.   As a side question would this apply to the 20,000 baht airport requirement?  I have never in 7 trios been asked to show 20,000 baht. 

i see you are from the USA like me. is the gold already here?

 

[Kinnock]

19 minutes ago, NCC1701A said:

i see you are from the USA like me. is the gold already here?

 

And where do you keep it, and can I have the combination to your safe?

[Elkski]

I may bring 1.   I was quoted 1250$ usd here. 

[Elkski]

Actually  I may have  been quoted 1350 but that was 2 weeks ago.  Now market  is 1550. 52 weeks high

[swissie]

1 hour ago, Elkski said:

Actually  I may have  been quoted 1350 but that was 2 weeks ago.  Now market  is 1550. 52 weeks high

I don't kow where you get your quotes from. But they are certainly massively "outdated".

I assume you are talking a 1 Oz Kruegerrand (there are lesser weights).
1 Oz of Gold is currently traded at 1464 $.
-The Bid/Ask spead for Gold-Coins is high. But even with a 10% spread (pay 5% more while buying, get 5% less when selling). = 1464 $ minus 5% should bring you 1391 $ for your 1 Oz Kruegerrand.
The 1250 $ offered to you is a "lousy deal".
------------------
Only major Thai Banks deal in Foreighn-Gold-Coins (if at all). Do as I did a couple of years ago:
Approach Bank-Teller with your request. Make sure your "Wall Street Journal" that you carry is clearly visible to the Bank-Teller. After having recived the "lousy-offer" by the Bank-Teller, fake a state of shock, look at the Wall Street Journal once more and tell the Teller that you would like to discuss this matter again with the Bank Manager tomorrow. Got a price resembling "european-trading" at this time. Must add, that I had a substantional account with this particular Thai-Bank at the time. That may have helped.

[Monomial]

Thais don't buy coins. They trade in 96.5% gold bars weighed in baht 1 baht is 15.244 grams. If you want to sell krugerrands, try Singapore. That is about the closest place regionally you can buy and sell coins. Hong Kong is also good.

 

Gold coins in Thailand will need to be sold to a refinery.  You can find places that will take them. Bangkok Assay for one. But you won't get international market prices for them. You'll get scrap value minus a processing fee.

 

If you want something that travels well across international borders, try 999 1kg gold bars. Those seem to be accepted everywhere.

 

[kingofthemountain]

5 hours ago, Elkski said:

Just wondering if you can get close to market price  for krugerrsnds in bkk?  If you can sell directly  to baht for a good price it may make sense to travel with some.   As a side question would this apply to the 20,000 baht airport requirement?  I have never in 7 trios been asked to show 20,000 baht. 

You can try to ask to Ausiris group if they buy them and at what price.

I have done some business with them and the price was good and the 

transaction process secure. They are serious. (Office in Sattahip, Pattaya and Rayong

the adress and contact are on the site in the link)

For the 20 000 bhts airport requirment better to have yours US $

don't take the risk to exhib your gold to an immigration officer

particularly if you don't have declared it at the customs

anyway they have no clue about the valor of it and you can't never

eliminate the greedy one who is going to confiscate it under a false pretext

good luck to you for trying to recuperate your gold after that.

From my experience the banks are not intersted at all in trading gold

with individuals, they just don't know how it works.

And in Thailand, as Monomial said in his post, most of the gold is

not the same (Only 96,5 here) on the market.

But Ausiris is used to trade our 999.99 gold

 

http://www.ausiris-sattahipgroup.com/index_eng.html

Edited November 30, 2019 by kingofthemountain

[swissie]

1 hour ago, Monomial said:

Thais don't buy coins. They trade in 96.5% gold bars weighed in baht 1 baht is 15.244 grams. If you want to sell krugerrands, try Singapore. That is about the closest place regionally you can buy and sell coins. Hong Kong is also good.

 

Gold coins in Thailand will need to be sold to a refinery.  You can find places that will take them. Bangkok Assay for one. But you won't get international market prices for them. You'll get scrap value minus a processing fee.

 

If you want something that travels well across international borders, try 999 1kg gold bars. Those seem to be accepted everywhere.

 

Yes traveles well, especially if the stamp says 999/Credit-Suisse. It's just that alert Customs Officers will start to ask silly questions upon entry to Europe. Wanting to know why (in the age of "plastic-money") an individual carries a few Kilo's of Gold in his luggage.

But that's not the question that the OP poses. He wants to sell an internationally accepted "hard-currency", trying to avoid to get "ripped-off".