Gold customs duty?

[2 is 1]

I have half kilogram gold what i was thinking to bring whit me when come back Thailand. Question is: do i have to declare it same way like if have much cash money whit me? Mean can i sell it whitout problem if i havent declere it in custom?

Edited October 1, 2021 by 2 is 1

[david555]

I can only confirm that Gold bullion is equal to monetary gold so sure a half a kilo need declaring  ,

no tax on it if not in jewel or any commercial form , and on condition you are not an exchange business or jewel maker (this for E.U.  do not know same for Thailand ) 

 

Mod Blackcab can give you the correct info , a financial expert .

  

[300sd]

The safest way to do that is to sell your half kilogram before you fly and then buy thai gold in Thailand. Otherwise you risk forfeiture. They do what they want at customs!

[ozfarang]

According to this IATA list of customs regulations you need and import licence to import gold bullion

 

 

Prohibited without licence, #2

Edited October 1, 2021 by ozfarang

[Liverpool Lou]

4 minutes ago, 300sd said:

The safest way to do that is to sell your half kilogram before you fly and then buy thai gold in Thailand. Otherwise you risk forfeiture. They do what they want at customs!

Why would declared bullion be confiscated?  If an import licence permitting its import isn't held, bullion will be returned on departure.

[Regyai]

OP never stated what form the gold was in

 

The assumption is that he is referring to a half kilo in bullion

 

There're are few dealers in 24ct gold in Thailand (from memory only two in Yaowarat) - if the requirement is for an import licence and somehow you succeed in having gotten this into Thailand without one, you may just find yourself between a rock and a hard place with it.

[digbeth]

The shops that buys gold don't need to see any import certificate, it is melted down fast enough with the rest of the jewelry they buy in everyday that it's not a problem, at most they will ask for some ID, it won't even trigger an investigation unlike deposit into bank account

 

Half a kilo in bullions might be a bit much, but the odd troy oz minted coins thrown in your purse with the rest of your coins aren't gonna raise any suspicion

 

most luggage is x-rayed coming in now, so the customs might notice if you have multiple bars stashed in your luggage, but a single half kg bars carried on your person like a phone is feasible

[2 is 1]

26 minutes ago, Regyai said:

OP never stated what form the gold was in

 

The assumption is that he is referring to a half kilo in bullion

 

There're are few dealers in 24ct gold in Thailand (from memory only two in Yaowarat) - if the requirement is for an import licence and somehow you succeed in having gotten this into Thailand without one, you may just find yourself between a rock and a hard place with it.

 

Bullions yes.

[2 is 1]

11 minutes ago, digbeth said:

The shops that buys gold don't need to see any import certificate, it is melted down fast enough with the rest of the jewelry they buy in everyday that it's not a problem, at most they will ask for some ID, it won't even trigger an investigation unlike deposit into bank account

 

Half a kilo in bullions might be a bit much, but the odd troy oz minted coins thrown in your purse with the rest of your coins aren't gonna raise any suspicion

 

most luggage is x-rayed coming in now, so the customs might notice if you have multiple bars stashed in your luggage, but a single half kg bars carried on your person like a phone is feasible

Only want to know if some have some facts about sell gold. Only know price wife sold my ring when was bist lol. Few days later buy new one (bigger) coz we go her work party! She have nice half carat diamont, but she dont understand that! Coz not "big" gold! You cant take ISAAN out of woman even high education !

[2 is 1]

Nice to know if some have some knowlelge!? I get drunk and go bar.... all open now here. Day drunk and continue whit friends till cant continue.... Drunk,bar,sauna and jail... normal Finnish weekend.... Maybe in different oder... Peace!

[John435]

Definitely hide that in a sock

[Neeranam]

Of of the reasons I sold all my gold 10 years ago. There are better stores of value that weigh nothing. 

[Airalee]

Sell it at home and rebuy Thai gold here.  Most shops, with the exception of Huasengheng, which has a 1kg minimum, will either flat out not buy non-Thai gold or will offer you 20% under spot price.  That has been my experience.

[JensenZ]

On 10/1/2021 at 4:50 PM, Regyai said:

OP never stated what form the gold was in

 

The assumption is that he is referring to a half kilo in bullion

 

There're are few dealers in 24ct gold in Thailand (from memory only two in Yaowarat) - if the requirement is for an import licence and somehow you succeed in having gotten this into Thailand without one, you may just find yourself between a rock and a hard place with it.

Of course there are 99.99% gold traders in Thailand. Gcap Gold is one. https://www.gcap.co.th/gcapgold/productgold9999.php

They sell 1kg imported bars of 99.99% gold and their own bars produced in Thailand. A translation from their website:

 

 

Gold Bar (Bullion)
99.99% pure gold
There are both imported from leading producing countries such as Switzerland. Australia's LBMA (London Bullion Market Association, global benchmark) and GCAP 99.99% pure gold are produced from the region's largest refinery that is ISO 9001 certified and recognized for Keep It is the country's reserve fund in the Bank of Thailand's treasury.

 

 

 

 

 

[JensenZ]

1 hour ago, Neeranam said:

Of of the reasons I sold all my gold 10 years ago. There are better stores of value that weigh nothing. 

I bet you didn't think that last year in August when the price hit $2070 or so.

[Neeranam]

6 minutes ago, JensenZ said:

I bet you didn't think that last year in August when the price hit $2070 or so.

I bought gold for 6,000 baht in 2001 when I got married. I sold in 2012 or so for 26/27,000 baht. 

I bought stocks and Bitcoin, which has gone up a lot more than gold has. 

Here are the figures from 2 years before I sold me gold: - NO REGRETS

 

Edited October 2, 2021 by Neeranam

[JensenZ]

22 minutes ago, Neeranam said:

I bought gold for 6,000 baht in 2001 when I got married. I sold in 2012 or so for 26/27,000 baht. 

I bought stocks and Bitcoin, which has gone up a lot more than gold has. 

 

That doesn't make gold a bad method of storing wealth just because you did well on bitcoin and stocks. Your bitcoin was risky speculation. It's a different ball game. Holding gold is not an investment as it doesn't return interest, but it's a safe haven asset and most balanced portfolios would have a percentage tied up in gold and silver. I still regret selling over 2kg of gold in late 2003 when it was super cheap. With national debts skyrocketing, the value of cash could crash at any time (as inflation picks up, it's already starting to), along with the stock market. It might be a good time to buy some again.

 

Edit: thanks, but I didn't really need to see a chart. I'm very aware of what has happened with crypo. It might also become worthless overnight as goverments seek to regulate it. They already have in China. It also dropped nearly 50% in May this year - nearly $30,000. It's highly speculative trading and I'm glad you did well.

Edited October 2, 2021 by JensenZ

[Neeranam]

16 minutes ago, JensenZ said:

That doesn't make gold a bad method of storing wealth just because you did well on bitcoin and stocks. Your bitcoin was risky speculation. It's a different ball game. Holding gold is not an investment as it doesn't return interest, but it's a safe haven asset and most balanced portfolios would have a percentage tied up in gold and silver. I still regret selling over 2kg of gold in late 2003 when it was super cheap. With national debts skyrocketing, the value of cash could crash at any time (as inflation picks up, it's already starting to), along with the stock market. It might be a good time to buy some again.

True, I am thinking of buying gold in a couple of months.

Btc was risky, and fine when I was younger. Now, I'm looking for some less stressful investments! 

 

 

Edited October 2, 2021 by Neeranam

[chicowoodduck]

I never declare anything when making my run through Thailand customs....just put my head down and  make a break for the Green Nothing to Declare lane, so far so good! ????????????????????????????????????????????????????????????

[fabruer]

19 hours ago, Neeranam said:

Of of the reasons I sold all my gold 10 years ago. There are better stores of value that weigh nothing. 

Out of curiosity. What would be examples of such weighless stores of value?

[Neeranam]

14 minutes ago, fabruer said:

Out of curiosity. What would be examples of such weighless stores of value?

Bonds, diamonds, cryptos.

[husky]

I agree with the folks saying to sell in your home country and buy it back here.  Had some gem dealer friends who used to have some African contacts bring some gold in for them, they would make these like 2 1/2 ounce (5 baht) or heavier simple bracelets because that is jewelry but with 1/2 kilo it just isn't worth the hassle, especially since it is fairly inexpensive to sell and then rebuy here.  Gold shops are really good place to buy, price is posted and you can order larger size bars, like 5 or 10 baht, or they often stock the 1 baht size.   

[kiwikeith]

On 10/1/2021 at 10:50 PM, Regyai said:

OP never stated what form the gold was in

 

The assumption is that he is referring to a half kilo in bullion

 

There're are few dealers in 24ct gold in Thailand (from memory only two in Yaowarat) - if the requirement is for an import licence and somehow you succeed in having gotten this into Thailand without one, you may just find yourself between a rock and a hard place with it.

My wife just said, if you Thai people, they know Thai people love gold no problem for Thai.

If your a Falang wearing foreign gold jewelry ,then they might take it .

If it was in the form of jewelry, which originated in LOS I guess a Thai would have no problem but half a KG of bullion might set off the metal detectors, if they have them.

I would change it to Bit Coin if your good with using that, they can not touch that.

[Neeranam]

3 minutes ago, kiwikeith said:

I would change it to Bit Coin if your good with using that, they can not touch that.

Yes, there really is no comparison between gold and BTC these days. 

[fabruer]

2 hours ago, Neeranam said:

Bonds, diamonds, cryptos.

Cryptos are no storage of value. They are highly volatile and thus speculative.

Diamonds are also a worse storage of value compared as there is a much bigger market for gold than there is for diamonds. Also, the value of gold is easier to determine at any given point in time.

Bonds are the only good example that you give. Yet, there is an inherit advantage in gold as a storage of value: historically it's a good hedge against inflation. Bonds are not (except TIPS). Also, in the unlikely case of a total market crash physical gold will be worth something.

[Peterphuket]

It depends from where you like to bring it in.

I owns some gold in HK, 250 gr is possible to keep in a wallet, I did that before between some coins.

Bigger pieces are possible to sell it local there for the actual gold price, also there are ATM for crypto currency where you can exchange the money.

Unfortunately at the moment it is still not possible to visit HK

[George masaoka]

Would very much appreciate info; I have Mexican 50 peso gold coins here in Thailand,  I think purity is marked 900/1000.  I don't think there is a premium for coins so I would sell for best price close to spot of gold content.  Any suggestions and especially specific names of places in Bangkok or phuket where I can sell is appreciated. 

[Airalee]

5 minutes ago, George masaoka said:

Would very much appreciate info; I have Mexican 50 peso gold coins here in Thailand,  I think purity is marked 900/1000.  I don't think there is a premium for coins so I would sell for best price close to spot of gold content.  Any suggestions and especially specific names of places in Bangkok or phuket where I can sell is appreciated. 

You won’t get close to spot if it’s not Thai gold at any smaller shop.  I tried selling a couple pieces of 999 bullion (Valcambi bar and British Sovereign) and out of half a dozen different shops, only one would make an offer which was 20% below spot and they didn’t want the coin….only the Valcambi bar in sealed assay which they insisted on breaking open in order to test it. 
 

The only place I could find that would buy non Thai gold (now I see there is another that a different poster listed above) was Huasengheng which had a minimum of 1kg…nothing less.  It appears that the other shop listed above only deals in 1kg 999 bars also.  Best of luck to you.  If you find somewhere (in Bangkok) that buys smaller quantities close to spot, please come back and let us know.

[RocketDog]

On 10/1/2021 at 4:31 PM, 300sd said:

The safest way to do that is to sell your half kilogram before you fly and then buy thai gold in Thailand. Otherwise you risk forfeiture. They do what they want at customs!

true, especially if he's coming from America. he will lose 1-2% on each side of the pond, but there will be no record of transactions when he buys here and he will have much more liquid and negotiable goods in the end.

[Jenkins9039]

On 10/1/2021 at 4:36 PM, ozfarang said:

ccording to this IATA list of customs regulations you need and import licence to import gold bullion

Reminds me of the 'Bentley bank loan story'. - free storage for your bullion! collect on departure.