Buying gold bars (or not)

[Lacessit]

I have never had a problem buying and selling Thai gold in ten years. While it is not 4 or 5 9's pure, reputable gold shops are in every shopping mall.

The OP might want to try ABC Bullion in Australia. Pool allocated, so one does not have to hold the gold physically. However, their buy/sell spreads are substantially more than any Thai gold shop.

[natway09]

A licenced gold shop who is a member of the Thai Gold Dealers Ass has 1, 5 & normally 10 Bht 

bars in stock. They will stamp it & give you a receipt with their registration number on it

Good as gold.

When comes time to sell be careful.

I know of one shop that will start the spiel that you did not buy from us & it is inferior.

Just walk away like I did & I never darkened their door again 

[wolf81]

18 hours ago, moogradod said:

You are right if it were for investment purposes. But this exercise is purely to have a secure (as much as can be) "amount" just in case everything else is loosing value (be it a bancruptcy of a bank or even a state or something similarly nasty). So this value being in physical shape is part of the plan. The gold is kept in a secure environment.

Probably obvious, but just make sure no of your extended Thai family and friends knows where you keep the gold. Perhaps not even your Thai girlfriend or wife (she might post it on Facebook to impress other people … back when we bought our car with cash my GF wanted to show the 1.300.000 Baht in cash on Facebook, Thai people are like that). 

[toolpush]

6 hours ago, Oxx said:

 

They appear to be very alternative.  Apparently for them 1 oz = 31.1034768 grams.  (It's actually ~28.35 g.)

1 troy ounce of gold is 31.1034768 grams. Google it

[roquefort]

If you want internationally accepted quality, security and liquidity you should buy and store in Singapore.

 

PM me for the details of a reputable dealer and storage facility.

[how241]

6 hours ago, Oxx said:

They appear to be very alternative.  Apparently for them 1 oz = 31.1034768 grams.  (It's actually ~28.35 g.)

Try google, it will help you understand.  They are not wrong.  troy weight.

[Oxx]

5 minutes ago, how241 said:

Try google, it will help you understand.  They are not wrong.  troy weight.

 

They do not state "troy ounce"  or "oz t" in their advertisement.  Ergo I am correct and have no need of Google.

[how241]

4 minutes ago, Oxx said:

 

They do not state "troy ounce"  or "oz t" in their advertisement.  Ergo I am correct and have no need of Google.

It is standard and universally known so that they don't need to mention it...

[moogradod]

10 hours ago, Oxx said:

 

If the world goes to hell in a handcart a tin of baked beans or a handgun is going to be worth more than your bar of gold.  If you're feeling apocalyptic, better to stock up on Heinz and Hecklers.

I did. At least on Heinz and Corned Beef. Hecklers are illegal and therefore a no go at least for me. Finally the aim is actually to buy a farm. Seriously.

[moogradod]

I thank everybody for all this interesting input. Did not think my question would raise such interest. At least very much more than my previous post where to find order made wooden planks or someone that manufactures a simple wooden structure for me (=Zero feedback) ????

[Henricus]

7 hours ago, Oxx said:

 

They appear to be very alternative.  Apparently for them 1 oz = 31.1034768 grams.  (It's actually ~28.35 g.)

https://www.convertunits.com/from/ounce/to/grams

 

1 ounce to grams = 31.10348 grams

2 ounce to grams = 62.20695 grams

3 ounce to grams = 93.31043 grams

4 ounce to grams = 124.41391 grams

5 ounce to grams = 155.51738 grams

6 ounce to grams = 186.62086 grams

7 ounce to grams = 217.72434 grams

8 ounce to grams = 248.82781 grams

9 ounce to grams = 279.93129 grams

10 ounce to grams = 311.03477 grams

 

[twix38]

Do not buy a gold ETF.

 

When economy and markets eventually blow hold the physical asset rather than the paper form.

 

ETF backed by physical gold is best one but I wouldn't hold any asset in paper form as too risky when push comes to shove. 

 

[Number 6]

4 hours ago, Dazinoz said:

I did this with some silver. Bought 4 x 100 ounce bars. Problem was I couldn't sell them in Chiang Mai had to go back to Singapore.

 

Wanted to sell 1 bar but visited heaps silver shops around Walai Road. They didn't want anything that big. I contacted the company I bought them off and they would buy them back no problem. Problem came when I tried to insure them to ship back. Most would not do and the one transport company that would wanted a fortune. End the end it was cheaper for me to fly there, sell, stay one night and fly back next day.

 

I like to do with Thai gold as it is as easy as going to the bank to get cash.

Your big problem was the silver.

 

Singapore has many vaults and boxes you can store or buy virtual gold, they hold it for minor storage fee and yes you can claim it. Half dozen online.

[emptypockets]

1 hour ago, moogradod said:

I did. At least on Heinz and Corned Beef. Hecklers are illegal and therefore a no go at least for me. Finally the aim is actually to buy a farm. Seriously.

Why not simply buy a seven figure farm now instead of buying gold? 

Seems to be a lot of effort for something that, ultimately, in Thailand anyway, you cannot own.

[Ireland32]

22 hours ago, DaRoadrunner said:

And just where are you going to keep all this physical gold? (Not that we want to know so we can break in to your place one night). Why not buy a gold ETF online?

Siam Secure has Safe Deposit Boxes on Klang rd Pattaya 

[Susco]

1 hour ago, Henricus said:

https://www.convertunits.com/from/ounce/to/grams

 

1 ounce to grams = 31.10348 grams

2 ounce to grams = 62.20695 grams

3 ounce to grams = 93.31043 grams

4 ounce to grams = 124.41391 grams

5 ounce to grams = 155.51738 grams

6 ounce to grams = 186.62086 grams

7 ounce to grams = 217.72434 grams

8 ounce to grams = 248.82781 grams

9 ounce to grams = 279.93129 grams

10 ounce to grams = 311.03477 grams

 

https://www.metric-conversions.org/weight/ounces-to-grams.htm

 

[moogradod]

16 minutes ago, emptypockets said:

Why not simply buy a seven figure farm now instead of buying gold? 

Seems to be a lot of effort for something that, ultimately, in Thailand anyway, you cannot own.

Absolutely, but no wasted effort involved. The farm is not for me but for my wife. If you have a suggestion for a real bargain (lets say 2 Rai up) and house - preferably in the region of Korat she will buy a farm right away. If it is a real big bargain and only then. There is no need to rush. Besides I do not care at all if something is "mine". I do not need to own anything. This might confuse some. I apologize for that but it is sometimes a bit difficult to convey the whole picture so I leave out something and stick to the main question - here: "Where to buy gold bars" - to not complicate things unnecessarily.

[englishoak]

Seems some here do not know the difference between A Troy Oz and Metric Oz... luckily the precious metals trade does. 

[Curt1591]

On 3/3/2020 at 9:52 PM, moogradod said:

What you see in the pictures following your link is exactly what I am looking for. The only thing is that a 1kg bar cannot be split if you want to sell part of its value and this is therefore not a practical size. I understand that bars come in all kind of sizes, from a few grams up to around 12kg I think.

At least at Hua Seng Heng's shop, you can buy 5 baht bars at spot. They will also buy back anything with their mark. Smaller bars add 150 baht.

[RocketDog]

On 3/3/2020 at 8:46 PM, DaRoadrunner said:

And just where are you going to keep all this physical gold? (Not that we want to know so we can break in to your place one night). Why not buy a gold ETF online?

Ha! Paper is not gold. Gold pools are a better bet. 

 

Also, there are multiple places for most people to hide metals, even in a condo. I can suggest several if somebody wants to PM me. For lots of people a PVC pipe in the ground will serve quite well. 

 

If you search for Silver Bullion vault in Singapore you will find that you can buy/sell/store gold there using bank transfers. You can even loan money guaranteed by the debtors precious metal holdings at that vault and get single digit interest rates on short term loans. 

They test all incoming metals three different ways guaranteeing only certified metals are traded. 

Finally, you can hold cash there using it somewhat as a bank, albeit you won't get the tremendous 0.1% interest rates that banks offer! 

This vault will under no circumstances ever transfer money or metals to a third party either. Singapore has very robust protection laws for your assets. Again, PM me if you want details. 

[EricTh]

Is there a popular place in Thailand where I can sell gold that is not bought in Thailand? 

 

It seems difficult because my gold is purer than 96% Thai gold. I don't know why it is difficult when you can exchange money quite easily.

[Peterphuket]

10 minutes ago, EricTh said:

Is there a popular place in Thailand where I can sell gold that is not bought in Thailand? 

 

It seems difficult because my gold is purer than 96% Thai gold. I don't know why it is difficult when you can exchange money quite easily.

I have the same experience with pure (99,9%) gold.

I have some physical gold in HK, there it is easy to sale, if you know the way, but I like it also to keep it, and don't know it is allowed to take with me to Thailand.

[tjo o tjim]

So are Canadian Maple Leafs (.9999) sellable here at spot price?

[Kalasin Jo]

On 3/3/2020 at 7:07 PM, Surelynot said:

I'd be thinking of selling not buying. 

Yup. Price is sky high. Don't think it's been this high since 2012.  Some say the rise hasn't finished. Fears of global economic standstill due to coronavirus? 

[fiddlehead]

1 hour ago, EricTh said:

Is there a popular place in Thailand where I can sell gold that is not bought in Thailand? 

 

It seems difficult because my gold is purer than 96% Thai gold. I don't know why it is difficult when you can exchange money quite easily.

There was a gold buying shop at Chalong circle in Phuket a few years ago. 
All of those buildings have since been torn down to finish the tunnel and new circle. 
When they were still in business, I went in and asked for the price of Krugerrands.

She said, any gold we buy would have to be melted down so we know it is pure.  
I said, but Krugerrands are known to be 99.9% pure.    She said, nothing is pure, and repeated that they would have to melt it down.  

[Antonymous]

1 hour ago, Peterphuket said:

I have the same experience with pure (99,9%) gold.

I have some physical gold in HK, there it is easy to sale, if you know the way, but I like it also to keep it, and don't know it is allowed to take with me to Thailand.

 

So, you want to have physical gold near at hand. Very sensible.

 

You are talking about bullion as in gold bars rather than the family jewels right? So why the attachment to it - why do you want to keep this particular stash? It is just money.

 

Instead of going through a world of hurt (security, duties, taxes, questions) trying to bring your physical gold with you from HK to Thailand, where you may have difficulty selling it anyway, the solution is simple:

 

Sell your gold in HK. Transfer the proceeds to Thailand. Buy Thai gold and keep it here.

[Peterphuket]

7 hours ago, Antonymous said:

 

So, you want to have physical gold near at hand. Very sensible.

 

You are talking about bullion as in gold bars rather than the family jewels right? So why the attachment to it - why do you want to keep this particular stash? It is just money.

 

Instead of going through a world of hurt (security, duties, taxes, questions) trying to bring your physical gold with you from HK to Thailand, where you may have difficulty selling it anyway, the solution is simple:

 

Sell your gold in HK. Transfer the proceeds to Thailand. Buy Thai gold and keep it here.

I'm sorry I not agree with you, the gold bought in HK is nearly 100% pure 24K, in contrast to the Thai gold plus the loss with exchange rates, you'll lose a lot of money.

[timendres]

On 3/4/2020 at 10:19 AM, mark5335 said:

Alternatively, take a look at YLG Bullion, one of the largest bullion dealers in Thailand. They have alternative size gold bars:

https://www.ylgbullion.co.th/en/gold-99-99

 

From their website:

 

Quote

 

Account opening document

• Copy of household registration
• Copy of national ID card

 

 

I think this makes it a non-starter for most foreigners.

[Farangwithaplan]

On 3/3/2020 at 6:38 PM, moogradod said:

Or even better give some advice where I can buy some 100g gold bars from a trusted source with international standard purity, certificate etc. ? This is possible in Thailand - or is it not ?

International options in 1kg. http://www.mtsgold.co.th/en/products/detail.php?ID=92&SCODE=ProGoldBullion

 

MTS also have their own brand 99.99% in 50gm, 100gm, 250, and 500 gram. http://www.mtsgold.co.th/en/products/detail.php?ID=93&SCODE=ProGoldBullion

 

I have used this company in the past for jewelry and bars for both buying and selling and found them very professional. If you want bars, better to book at a local store or head directly to Yaowarat store where they will have stock on hand generally. Give them a call.

[Foexie]

You better buy goldbars then Jewels because when you wanna sell you never have to pay 1000bt costs .

 

I will get married in august and even i am thinking to give my wife little goldbars instead of jewelry. Hehe even she is happy with that ????.