Chris.B Posted November 9, 2021 Share Posted November 9, 2021 (edited) My wife says when buying gold a tax must be paid. This is in addition to the gold price displayed? I also understand, if paying by credit card a 3.5% charge is levied? Is there a website that displays the daily gold prices per baht weight for buying and selling? Also are there historic graphs of prices in baht weight available? The prices for gold displayed in the shops are for 23 carat gold only? Edited November 9, 2021 by Chris.B Link to comment Share on other sites More sharing options...
Popular Post NE1 Posted November 9, 2021 Popular Post Share Posted November 9, 2021 (edited) The extra money you pay above the price of gold for that day is for the workmanship and labour that went in to making the ring/bracelet/necklace. Edited November 9, 2021 by NE1 3 Link to comment Share on other sites More sharing options...
moogradod Posted November 9, 2021 Share Posted November 9, 2021 11 minutes ago, NE1 said: The extra money you pay above the price of gold for that day is for the workmanship and labour that went in to making the ring/bracelet/necklace. You can as well buy "non ornament" gold - some sort of bullion - then no workmanship and labour. The 3.5% surcharge for credit cards is new to me. Where did you hear that ? Link to comment Share on other sites More sharing options...
jojothai Posted November 9, 2021 Share Posted November 9, 2021 For price you go to the thailand gold traders association website. If i remember correctly it has historical data. There are plenty of other sites for gold price history, but you need to look for one that gives you in thai baht accurately. Check a few dates over the last few years to be confident. I do not recall having to pay any tax ontop of the price when buying or selling in one of the big and reliable companies in bangkok chinatown. 1 1 Link to comment Share on other sites More sharing options...
jojothai Posted November 9, 2021 Share Posted November 9, 2021 Just now, jojothai said: For price you go to the thailand gold traders association website. If i remember correctly it has historical data. There are plenty of other sites for gold price history, but you need to look for one that gives you in thai baht accurately. Check a few dates over the last few years to be confident. I do not recall having to pay any tax ontop of the price when buying or selling in one of the big and reliable companies in bangkok chinatown. I paid cash. Not used credit card. There is likely to be a surcharge. Ring a few places to check. Link to comment Share on other sites More sharing options...
Popular Post starky Posted November 9, 2021 Popular Post Share Posted November 9, 2021 Everyone single gold shop has the "spot" price displayed per baht of gold. Some will be exactly on the gold price some will shave a few baht in thier favour. And yes of course paying by credit card will attract some additional fee depending on the card 7 Link to comment Share on other sites More sharing options...
Popular Post Liverpool Lou Posted November 9, 2021 Popular Post Share Posted November 9, 2021 (edited) 1 hour ago, Chris.B said: Is there a website that displays the daily gold prices per baht weight for buying and selling? Also are there historic graphs of prices in baht weight available? Gold Prices in Thailand for the last 10 years http://udon-news.com/en/gold/gold-prices-in-thailand-for-the-last-10-years Isn't the internet wonderful! Edited November 9, 2021 by Liverpool Lou 3 Link to comment Share on other sites More sharing options...
Popular Post Liverpool Lou Posted November 9, 2021 Popular Post Share Posted November 9, 2021 1 hour ago, moogradod said: The 3.5% surcharge for credit cards is new to me. Where did you hear that ? Not at all unusual, many merchants charge for using credit cards as they have to pay their bank a charge for accepting them. 6 Link to comment Share on other sites More sharing options...
hotandsticky Posted November 9, 2021 Share Posted November 9, 2021 No tax on sales except for jewelry. http://goldpricez.com/th/baht https://thailand505.com/ultimate-guide-to-buying-gold-in-thailand/ 1 Link to comment Share on other sites More sharing options...
digbeth Posted November 9, 2021 Share Posted November 9, 2021 Even if you don't buy the jewelry gold, which attracts the 'workmanship' charge over the 'spot' price of gold that day, essentially the shop's commission this is usually 500-1000 baht per baht weight of gold, depending on the intricacy of design and the shop's prestige, hard to calculate into percentage as the commission is charged per weight and the spot price vary daily but this works out to around 2-3% at the current price there's still the 'block charge' if you buy bullions, this is a bit less than the % charged for the jewelry (instead of 500-1000 per baht it's now 500 or less) and can be waived or negotiated if you buy over 5-10baht weight of gold Link to comment Share on other sites More sharing options...
talahtnut Posted November 9, 2021 Share Posted November 9, 2021 She will love you too mutt big.. Priceless. Link to comment Share on other sites More sharing options...
vandeventer Posted November 10, 2021 Share Posted November 10, 2021 16 hours ago, NE1 said: The extra money you pay above the price of gold for that day is for the workmanship and labour that went in to making the ring/bracelet/necklace. But if you buy gold bars there should not be a price for workmanship. Link to comment Share on other sites More sharing options...
NE1 Posted November 10, 2021 Share Posted November 10, 2021 3 minutes ago, vandeventer said: But if you buy gold bars there should not be a price for workmanship. There is nowhere in the original post about buying gold bars , he just mentioned gold. So being the ever helpful person I am commented on any extras in a gold shop you might incur. You are welcome.....???? 1 1 Link to comment Share on other sites More sharing options...
wwest5829 Posted November 10, 2021 Share Posted November 10, 2021 15 hours ago, Liverpool Lou said: Not at all unusual, many merchants charge for using credit cards as they have to pay their bank a charge for accepting them. Even higher if using American Express. Up to the individual business, some do not penalize credit card usage. 1 Link to comment Share on other sites More sharing options...
Colabamumbai Posted November 10, 2021 Share Posted November 10, 2021 3% on your credit card. No additional taxes. Link to comment Share on other sites More sharing options...
Chris.B Posted November 10, 2021 Author Share Posted November 10, 2021 7 hours ago, talahtnut said: She will love you too mutt big.. Priceless. Guaranteed deposits at banks are limited to 1 million baht now. So, looking for other safe ways to save money in these unsettled times. Gold and land seem safe to me. 1 Link to comment Share on other sites More sharing options...
Raphael Hythlodaeus Posted November 10, 2021 Share Posted November 10, 2021 (edited) For 96.5% Thai gold bars there is only 100 baht difference between the buy and sell price per 1 baht weight. No tax. Some dealers like Ausiris also sell 99.99% gold from PAMP (Switzerland). Personally, I have always paid cash and would not pay a credit/debit card commission. I prefer 96.5% 10 baht weight bars and 99.99% 100 gram or 1 Kg bars. http://www.ausiris.co.th/content/index/goldprice.html Edited November 10, 2021 by Raphael Hythlodaeus 1 Link to comment Share on other sites More sharing options...
timendres Posted November 10, 2021 Share Posted November 10, 2021 The 96.5% gold "bars" sold in Thailand are referred to as "baht gold", because they are sold in units of "baht", which is a weight (15.244 grams). The dealers have a "spread" - in other words, you pay more (when buying) than the spot price, and receive less (when selling) than the spot price. This is typically 100 to 300 baht. I would not pay more than that, and would expect 100 or 200 baht from a reputable shop. Personally, in Thailand, I will only buy "baht gold", as these are the most easily sold. Also note that you always want to sell back to the shop you bought from. Selling to a different shop will often mean a bigger hit on the spread. I have never fully understood why this is, and it is not always the case, but I believe it is simply because the shop "knows" their own bars and can trust the assay, whereas another shop may feel the need to assay the bar to confirm its purity and weight. Of course, major "chains" will accept from any of their branches. 1 Link to comment Share on other sites More sharing options...
Albert Zweistein Posted November 10, 2021 Share Posted November 10, 2021 13 hours ago, Chris.B said: Guaranteed deposits at banks are limited to 1 million baht now. So, looking for other safe ways to save money in these unsettled times. Gold and land seem safe to me. Gold at present rate and land in Thailand ? 1 Link to comment Share on other sites More sharing options...
digbeth Posted November 11, 2021 Share Posted November 11, 2021 On 11/10/2021 at 7:52 AM, vandeventer said: But if you buy gold bars there should not be a price for workmanship. for weight under 5 baht bars, there might be a 'block charge' Link to comment Share on other sites More sharing options...
zzaa09 Posted November 11, 2021 Share Posted November 11, 2021 On 11/9/2021 at 1:07 AM, jojothai said: For price you go to the thailand gold traders association website. If i remember correctly it has historical data. There are plenty of other sites for gold price history, but you need to look for one that gives you in thai baht accurately. Check a few dates over the last few years to be confident. I do not recall having to pay any tax ontop of the price when buying or selling in one of the big and reliable companies in bangkok chinatown. This is true as it applies to many small town or rural situations as well. Link to comment Share on other sites More sharing options...
Chris.B Posted November 11, 2021 Author Share Posted November 11, 2021 (edited) 22 hours ago, Albert Zweistein said: Gold at present rate and land in Thailand ? Correct. Is there a problem with that? The land would be farm land. Edited November 11, 2021 by Chris.B Link to comment Share on other sites More sharing options...
Albert Zweistein Posted November 11, 2021 Share Posted November 11, 2021 2 hours ago, Chris.B said: Correct. Is there a problem with that? The land would be farm land. No problem with that, the real problem is that a foreigner can't buy or own land in Thailand. Not in a legal way. Link to comment Share on other sites More sharing options...
Chris.B Posted November 12, 2021 Author Share Posted November 12, 2021 (edited) You are correct! I forgot when I mention buying land. Edited November 12, 2021 by Chris.B Link to comment Share on other sites More sharing options...
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