Farang Gold bullion stacking

[WhereIsMyRyeBread]

Gold bullion stacking: 

 

I'm curious if there are any gold stackers that argue it's worth paying the 7% duty for importing gold bullion from overseas versus buying the local Thai stuff?

I'm well aware of the 99.9% versus 96.5% differences and such. I think many would agree it feels more secure having an 1 oz gold maple, american gold eagle, krugerand in hand versus a Thai brand/no brand produced in Thailand.

E.g you can buy online at APMEX which is a very trusted old online dealer. 

 

I'm kinda weary that given how plain Thai bullions look like it would be so easy to fake and while it may not be common it would be so easy for the dealers to slip a few fake in there on a slow month.

Any thoughts?  

 

 

 

 

 

 

 

[JimmyTheMook]

AMPEX , gold shops are the ones making $ on the transactions.

 

That said JM Bullion is all sold out of 1 kilo bars - first time I've ever seen this.

[Cashboy]

 

 

The Thai Gold Price is based on the US Dollar price and US Dollar to Thai Bt and the purity of gold (96.5%) of Thai bt gold.

 

The spread was only 100bt between buy and sell price when 20,000 bt that represents only 0.5% cost.

Unfortunately the spread is now 200 bt.

 

Thai bt gold can be bought and sold in most places in Thailand.

 

I therefore cannot see the point in importing bullion from abroad if keeping gold in Thailand.

Edited April 1, 2020 by Cashboy

[Cashboy]

Regarding buying fake Thai bt.

 

There is some about.

 

My advice is buy from reputable gold shops in Thailand (big ones in Bangkok).

But more importantly ask for a receipt and ask them to stamp the gold with their trade stamp so you have evidence it came from them.