Gold Coins??

[USslugga]

Hey y'all.

 

I'm having trouble finding if this is even possible here in Thailand.  Hopefully some of you can help me:

 

Can I buy some gold coins (99.99 % purity) here? 

 

I know Thailand has their own gold which is 96.5% pure or whatever, but I'm not interested in that.

 

If I end up leaving Thailand I don't want a headache selling Thai gold so I'd rather get something that is accepted worldwide like Kruggerands, Canadian Maples, American Eagles or any other 1 ounce gold coins. 

 

Are there any gold shops that you know of that will sell me some standard 1 oz coins (99% purity)?  Thanks

[KhunBENQ]

24 minutes ago, USslugga said:

so I'd rather get something that is accepted worldwide like Kruggerands, Canadian Maples, American Eagles or any other 1 ounce gold coins. 

Of the three you mention here the Australian Maple Leaf is the only 999.9 pure.

American Eagle and Krugerrand are 916⅔ (22 Carat). So both are less pure than Thai gold.

In the past when I dealt with such, the Krugerrand was by far the most popular and easy buy/sell. NOT in Thailand. They sit calm in the safe for even worse times than now.

Edited April 9, 2020 by KhunBENQ

[RichCor]

I'd suggest doing a google search of the ThaiVisa website an see what previous threads mention. Precious metal sellers usually stick around in the same location if there's profit to be made.

 

Google:  site:thaivisa.com gold coins in Thailand

[USslugga]

25 minutes ago, KhunBENQ said:

Of the three you mention here the Australian Maple Leaf is the only 999.9 pure.

American Eagle and Krugerrand are 916⅔ (22 Carat). So both are less pure than Thai gold.

In the past when I dealt with such, the Krugerrand was by far the most popular and easy buy/sell. NOT in Thailand. They sit calm in the safe for even worse times than now.

Thanks for the info. I don't know why I thought all the standard one ounce coins were all 999.9 pure.  Thanks for the clarification. 

 

What are my best options here in Thailand then? I'm not looking to make a quick buck flipping the gold. 

 

I'm looking to buy and hold for at least a few years (probably).

 

And I was hoping for coins because I could easily fit a couple in a wallet and not draw too much suspicion if I was travelling, but I haven't seen any Thai gold coins on the websites I've seen.  Just bars and jewelry. 

[meechai]

12 hours ago, USslugga said:

 I don't know why I thought all the standard one ounce coins were all 999.9 pure. 

You know many are confused about gold coins vs purity

It does not really matter

 

While it’s widely believed that a 22k gold coin doesn’t contain the same gold content as a 24k gold coin, that’s not the case.   In fact, the amount of pure gold in a one ounce 22k gold coin is exactly the same as a 24k gold coin.

 

It is why the overall weight between say a Eagle & a Maple will be different but at the end of the day both have 1troy oz of gold but the 1oz eagle weighs 33.93 grams, while a one ounce gold maple leaf weighs 31.1 grams. That is how the equalize the purity

 

You may read if you wish

https://atlantagoldandcoin.com/does-the-purity-of-a-gold-coin-affect-its-value/

 

As to buying in Thailand world coins such as Maples/Krugs/eagles etc it is possible because some shops have some folks sold to them

But do not look on websites you need to go to the larger shops in Thailand located in every province

 

But if not don't worry Thai 5-10 baht bars are just as good & actually carry less of a premium than if you were buying coins/rounds in the world today

BTW: Good luck finding any at this time in the world

Both Silver & Gold 1 ounce coins or generic rounds are in very short supply due to many mines temporarily closing due to Covid

Edited April 10, 2020 by meechai

[USslugga]

Thanks for the reply Meechai. And thanks for the info about the purity of one ounce coins vs purity.  Makes sense. 

 

Are the regular gold shops in Yaowarat open during this time?  I don't live in Bangkok (about 2 hours away), but I've heard the Hua Seng Heng gold shop is one of the best in Thailand. 

 

I might try to make my way to that shop and see what they have to offer (assuming they're still open...)

 

[meechai]

Your Welcome

As to Yaowarat I'm not sure as I am not in Thailand right now

[USslugga]

Does anyone else happen to know if the Yaowarat shops are still open these days?  I don't want to go all the way there just to find it closed because of covid...