Buying Thai Gold bullion: USD or Thai baht?

[cmjc]

29 minutes ago, Dazinoz said:

I don't make it obvious when I get my cash to buy or sell and, as mentioned, there is a lot people around and I feel safe enough.

 

I am still not sure of the gold shop chain but they are everywhere. The one I deal with has 1s, 2s, 5s, 10s and 20 baht bars all the time.

 

Once the app or the person who updated the app made a mistake and the price of gold went up 2000baht/baht. I took screen shot and went looking to see what had happened. US gold prices hadn't changed so I guessed an error. On going back to the app it had been corrected. Later that day I went to local Big C that has a smaller gold shop of the chain. More of a joke i went in and asked and showed them the screen cap. "Oh thats Bangkok price". I just said seriously. They said yes so I just walked out. The app show Thailand prices not just Bangkok.

 

Personally I feel you are being ripped off paying 900 to 1000 baht commission on a 5 baht bar. I pay nothing. And yes, commission if charged, is on buying and selling.

 

I don't know how much gold you intend to buy but maybe worth a 2 day holiday to Chiang Mai, obviously after restrictions lifted which should be very soon, and buy your bars here. I can send you scan of shop I use in Worarot Market in China Town in Chiang Mai. At present my gf with me and card is with the hidden gold. For obvious reasons she doesn't know where hidden or how much.

Thank you Sir, your replies have assisted me greatly in my quest.

 

No need to post on the forum where you purchase your gold, it's too risky to do so.

 

Plenty of very greasy farangs in CM, as I'm sure you're aware :)

 

There are still lots of "red shops" for me to ask at before I decide to buy, so I'm sure I'll find the chain you use in my locality too. Then I will make it clear I don't wish to pay any commission buying or selling on 5 baht or more bars.

 

 

[Dazinoz]

2 minutes ago, cmjc said:

Thank you Sir, your replies have assisted me greatly in my quest.

 

No need to post on the forum where you purchase your gold, it's too risky to do so.

 

Plenty of very greasy farangs in CM, as I'm sure you're aware ????

 

There are still lots of "red shops" for me to ask at before I decide to buy, so I'm sure I'll find the chain you use in my locality too. Then I will make it clear I don't wish to pay any commission buying or selling on 5 baht or more bars.

 

 

Yep, I would not publish on here, would send via PM.

 

Make sure you tell them you have a "friend" who does not pay commission on 5 baht and above bars on buying or selling. I was actually amazed that I wasn't charged a commission on selling back to them.

[cmjc]

3 hours ago, Dazinoz said:

Yep, I would not publish on here, would send via PM.

 

Make sure you tell them you have a "friend" who does not pay commission on 5 baht and above bars on buying or selling. I was actually amazed that I wasn't charged a commission on selling back to them.

Okay, today I had another look around the red shops in my locale, this time I was better prepared with questions typed out in Thai and in English, and made progress.

 

I think we have misunderstood the "extras", because today I found a shop that does not charge commission on 5 baht bars, and they have plenty of 5 baht bars in stock. It may be the same one you use, but the nice lady wrote down the "extra" fee, and it was "Shipping charge 200 baht a baht", so 1000 baht cash extra for a 5 baht bar.

 

This applies on buying and on selling.

 

My understanding is the customer has to pay for the delivery from Bkk, (presumably in an armoured van) so not really a commission. What do you think?

 

Another poster in this thread said he sold a 5 baht bar and the cost to sell was 1000baht, so that'd fit with this "Shipping Charge".

 

Mind you, if I buy a new car from my local Honda dealer, I don't expect to have to pay the cost of delivery from the Honda factory. 

 

Yes, I'll PM you the name of the shop I found.

[Dazinoz]

33 minutes ago, cmjc said:

I think we have misunderstood the "extras", because today I found a shop that does not charge commission on 5 baht bars, and they have plenty of 5 baht bars in stock. It may be the same one you use, but the nice lady wrote down the "extra" fee, and it was "Shipping charge 200 baht a baht", so 1000 baht cash extra for a 5 baht bar.

 

This applies on buying and on selling.

 

My understanding is the customer has to pay for the delivery from Bkk, (presumably in an armoured van) so not really a commission. What do you think?

 

Another poster in this thread said he sold a 5 baht bar and the cost to sell was 1000baht, so that'd fit with this "Shipping Charge".

I think they are just using different names to rip you off. I have NEVER paid shipping charges as I pick up in person. If the shop doesn't have it in stock don't buy.

 

Why pay 1000 baht extra for a bar when you can get it for 0 Baht? Maybe the Chiang Rai gold shops work differently to here. 

 

I have no objections to shop owners making a profit, after all that is why they are in business. But I don't see how one shop can sell and buy a 5 baht bar for 0 commission and another wants to charge you 2000.

[Barnabe]

Most shops in BKK's Chinatown charge between 100 and 150 baht commission, even for 5+ baht bars.

 

[Dazinoz]

41 minutes ago, Barnabe said:

Most shops in BKK's Chinatown charge between 100 and 150 baht commission, even for 5+ baht bars.

 

Maybe I am just lucky to have found a good one in Chiang Mai.