My wife wants to buy a couple of 5 baht gold bars in Chinatown. Does anybody know the best shop to go to and how do they accept payment ? Can you just walk in and buy off the street ?

Dont know the best shop, but "Yes" you can just walk in and buy.

According to Google its Hua Hen Seng a log established Chinse gold dealer.

 

https://www.huasengheng.com/

If you were in Chiang Mai i could recommend a dealer that does not charge a commission on buying or selling gold bars 5 baht and above. Commission for below 5 baht has been 200baht/baht, although I have sold a 1 bar bar on 2 separate occasions lately and not charged a commission. I walk in and buy or sell with cash and need to show nothing. I sold a 1 baht bar at a dealer in a Big C complex the other day and I had to show ID, they tried to melt the bar and filed it and I had to sign for the cash.

 

Sorry I can t help for Bangkok just giving my experience to maybe help with yours. If you show you don't know much, like the first time I sold, you can be hit up for big commissions. Shop around for commissions if charged. You cant bargain the price of the gold itself only the commission if charged.

 

 

30 minutes ago, Dazinoz said:

If you were in Chiang Mai i could recommend a dealer that does not charge a commission on buying or selling gold bars 5 baht and above. Commission for below 5 baht has been 200baht/baht, although I have sold a 1 bar bar on 2 separate occasions lately and not charged a commission. I walk in and buy or sell with cash and need to show nothing. I sold a 1 baht bar at a dealer in a Big C complex the other day and I had to show ID, they tried to melt the bar and filed it and I had to sign for the cash.

 

Sorry I can t help for Bangkok just giving my experience to maybe help with yours. If you show you don't know much, like the first time I sold, you can be hit up for big commissions. Shop around for commissions if charged. You cant bargain the price of the gold itself only the commission if charged.

 

 

Thanks for that they maybe helpful to anyone considering buying in Chiang Mai. Not really a fan of gold as a personal 'investment' as it only really comes into it's own when things are getting really broken when it my be fortuitous to have a gun !

38 minutes ago, najomtiensun said:

Thanks for that they maybe helpful to anyone considering buying in Chiang Mai.

As I said the experience from others can also help. A guy from Chiang Rai posted a similar post to yours. I told my experience and he ended up saving a lot of money on commissions in Chiang Rai. He was buying 40 baht gold bars.

 

But if you don't see people experiences don't help then don't ask on these forums.

8 minutes ago, Dazinoz said:

As I said the experience from others can also help. A guy from Chiang Rai posted a similar post to yours. I told my experience and he ended up saving a lot of money on commissions in Chiang Rai. He was buying 40 baht gold bars.

 

But if you don't see people experiences don't help then don't ask on these forums.

Apologies if my comment appeared off hand it certainly  wasn't my intention. Your comment was very helpful and informative and thankyou for making the effort.

21 hours ago, najomtiensun said:

According to Google its Hua Hen Seng a log established Chinse gold dealer.

 

https://www.huasengheng.com/

One at Seacon Sq as well

Edited March 29, 20215 yr by clivebaxter

Easy to do nothing required happy to accept anyone's money. I normally by 1 or 2 baht ingots . Your biggest concern will be someone that trades in 5 and 10 baht ingots. There will be a few but not a lot so your wiggle room on commissions may close. Have you considered buying in smaller baht weight amounts or are you set on 5s and 10s.?

Plenty of choice in Yaowarat road in China Town. Personally I prefer Chin Hua Heng

 

 

 

 

 

Because their bars are of a more appealing design and finish (I prefer their 10 baht dragons)

 

Never bought a 5 baht but 10 baht ones are always devoid of commission 

 

Yes, its a walk in and buy (cash) with the caveat that they won't sell bars anywhere in Chinatown on a Sunday etc (when the official Thai Gold Market is closed) had that disappointment some years back when I had to add the cost of an overnight onto the couple of bars I was intent on buying on a Sunday ????

 

As to the comment above re supposed difficulties in trading 5's and 10's for cash, never in my experience (in fact I realised instant cash for quite a number of them in Pattaya to enable a purchase of 'fire sale' property in South Pattaya)

Edited March 29, 20215 yr by Regyai

Job done painless as well. at Hua Heng Seng. Your comments about the beauty of their ingots is spot on ! The place was very busy and the value of cash and gold on the premises was phenomenal.