Selling 1 oz gold bar in Bkk?

[wjmark]

I thought I might bring a 1 oz gold bar to sell in Bkk. Good idea? Any legal issues?

 

Where can I sell it to get the best price? Worth over 60,000bt

 

1oz Royal Canadian Mint .9999 fine gold, serial numbered, still wrapped in original packing ...

 

thanks for any advice

[timendres]

I would sell it before I came to Thailand. Many shops will not want to buy it, and those that will are going to offer less than it is worth. There is no advantage to selling it in Thailand.

[IvorBiggun2]

47 minutes ago, wjmark said:

I thought I might bring a 1 oz gold bar to sell in Bkk. Good idea? Any legal issues?

 

Quote

 

Airalee

• Platinum Member
• Advanced Member
•  5385
• 3154 posts

Posted September 15, 2018

Well...here you go.  Without an import license, the answer is No...you cannot bring gold bullion into Thailand.

 

https://www.iatatravelcentre.com/TH-Thailand-customs-currency-airport-tax-regulations-details.htm

 

 

[david555]

1 hour ago, timendres said:

I would sell it before I came to Thailand. Many shops will not want to buy it, and those that will are going to offer less than it is worth. There is no advantage to selling it in Thailand.

Normaly ....i say "normaly" it is even not allowed to bring gold bullion in to Thailand if no import permission for it, however  .....you can leave it at the airport costoms safe   untill you depart again from Thailand ...

 

Just letting you know in case  you got a lugage  search when entering ????

 

 

Read the pdf yellow marked lines 

THAI CUSTOMS PDF.pdf

Edited August 10, 2022 by david555

[wjmark]

Thank you all.

[desdeash]

18 hours ago, IvorBiggun2 said:

Thai gold shops seem to only deal in 1kg gold or silver bars. 

 

 

 

[RandolphGB]

Thai gold shops buy for a better rate than in the west, but still only a fraction below the spot price.
 

However, many are backwards and regimental about their rules so they’ll only pay the ‘Thai price’, which is for the country’s inferior 96% purity gold.

 

Chinatown is the best place, but don’t hand it over unless they meet the price you want. 

[Gottfrid]

@desdeash @IvorBiggun2

I do not know who wrote this: Thai gold shops seem to only deal in 1kg gold or silver bars.

However, I just want to share my experience. I know how bad it is. Last time I went into a gold shop, they told me that the smallest they would sell me was 750 gram.

 

[temporocco]

I will give you spot for it

[sometimewoodworker]

42 minutes ago, Gottfrid said:

@desdeash @IvorBiggun2

I do not know who wrote this: Thai gold shops seem to only deal in 1kg gold or silver bars.

However, I just want to share my experience. I know how bad it is. Last time I went into a gold shop, they told me that the smallest they would sell me was 750 gram.

 

There is no problem in buying gold in Thai standard bar form. 1 Baht weight are more difficult to find (15.244g) 5 Baht weight are easier as are 10 Baht bars. The actual purity is 96.5% 

 

 

 

If you want a non standard purity then it will be much more difficult to find and the weights are rather less standard

[lopburi3]

1 hour ago, RandolphGB said:

they’ll only pay the ‘Thai price’, which is for the country’s inferior 96% purity gold.

Thai gold is based on jewelry usage and at 96% (23k) far better than what we call jewelry gold in western countries (14k or less for most).

[George Aylesham]

1 hour ago, RandolphGB said:

Thai gold shops buy for a better rate than in the west, but still only a fraction below the spot price.
 

However, many are backwards and regimental about their rules so they’ll only pay the ‘Thai price’, which is for the country’s inferior 96% purity gold.

 

Chinatown is the best place, but don’t hand it over unless they meet the price you want. 

Actually four years back I got a fair price for some gold jewellery in a market gold shop in Chiang Mai - one piece of which wasn't even hall marked. (Fair price because I got a reliable jeweller to value the pieces for me first)

[klauskunkel]

Bangkok Assay Office Co.
Surawong Branch:
1230-32 New Road, Bangrak 10500 Thailand
TEL :0-2233-1295,0-2236-6575, 081 935 3022

 

Sold a PAMP Suisse 100gr bar there last year. Got paid spot price in cash, took 30min.

 

Another one for gold and silver:

Morris & Watson

Here you need appointment and bankbook for transfer

[misterphil]

Ive done this before. Bought an ounce investment bar in Dubai and sold it in a gold shop in Pattaya. Made very little from it and not really worth doing, unless you bought it when gold prices were low and you sell when higher. 
 

Also, they will melt a small part of it to test the purity so your nicely sealed package will be opened and your bar wont look the same. 

Edited August 11, 2022 by misterphil
.

[patman30]

2 hours ago, Gottfrid said:

@desdeash @IvorBiggun2

I do not know who wrote this: Thai gold shops seem to only deal in 1kg gold or silver bars.

However, I just want to share my experience. I know how bad it is. Last time I went into a gold shop, they told me that the smallest they would sell me was 750 gram.

 

this is just the wholesalers in china town
i was turned away from 3 shops once because i only had 1m to spend.....????‍♂️

[The Hammer2021]

12 minutes ago, klauskunkel said:

Bangkok Assay Office Co.
Surawong Branch:
1230-32 New Road, Bangrak 10500 Thailand
TEL :0-2233-1295,0-2236-6575, 081 935 3022

 

Sold a PAMP Suisse 100gr bar there last year. Got paid spot price in cash, took 30min.

 

Another one for gold and silver:

Morris & Watson

Here you need appointment and bankbook for transfer

Great real info

[Gottfrid]

39 minutes ago, patman30 said:

this is just the wholesalers in china town
i was turned away from 3 shops once because i only had 1m to spend.....????‍♂️

Yeah, I know how bad it is. I had 2m in a plastic bag with me.

[Gottfrid]

2 hours ago, sometimewoodworker said:

There is no problem in buying gold in Thai standard bar form. 1 Baht weight are more difficult to find (15.244g) 5 Baht weight are easier as are 10 Baht bars. The actual purity is 96.5% 

 

 

 

If you want a non standard purity then it will be much more difficult to find and the weights are rather less standard

That´s just too bad! I need it the be exactly the same weight as I pay for.

[sometimewoodworker]

34 minutes ago, Gottfrid said:

That´s just too bad! I need it the be exactly the same weight as I pay for.

It looks as if you do not understand the way Thai gold is bought and sold.

 

You get exactly the weight you pay for. 
For a bar of standard Thai gold, you pay for a bar that is 96.5% pure.

 

If you do not want a standard Thai 96.5% pure bar but want 99.99% (999.9) you will pay a higher price per gram and will have very few choices of places to buy.

 

If you want to buy and sell gold bars easily in Thailand you have only 1 choice, 96.5% purity 

There are a very few shops that sell 999.9 gold bars, virtually all are in Bangkok.

There are thousands (probably hundreds of thousands) of shops that will buy and sell 96.5% pure bars, every town has them, every city has quite a few.

 

The current difference between the buying price and selling price is 0.3344481605% or 100฿ Per 15.244 grams.

 

The chances of getting scammed by a gold shop in Thailand is vanishingly small.

as you can see these are the buying prices

for selling prices only 96.5% is quoted I have no idea of the markup for other purities.

Edited August 11, 2022 by sometimewoodworker

[ftpjtm]

5 hours ago, lopburi3 said:

Thai gold is based on jewelry usage and at 96% (23k) far better than what we call jewelry gold in western countries (14k or less for most).

In Asian centers of US cities there are "Thai style" gold jewelry shops which sell 24k gold jewelry. They'll buy Thai made 23k but obviously at a discount. 

 

But yes, typical western 14k gold jewelry is horrifically over priced junk in comparison what's sold at the thousands of Thai gold shops.

[OneMoreFarang]

50 minutes ago, ftpjtm said:

But yes, typical western 14k gold jewelry is horrifically over priced junk in comparison what's sold at the thousands of Thai gold shops.

50% margin for the shops in farang land

[sometimewoodworker]

The point for western jewellery is that it’s sold as an item, the actual weight of the gold is incidental. It is also the case that the value of used items is a fraction not only of the new price but it’s also a small percentage of the gold weight.
 

The point for many Asian shops is that they are selling gold by weight and they also are decorative.

 

the cost differential is tiny between a fraction of 1% to not much more than 10%.

the western differential is likely to be anything between 30% to 90%

[Gottfrid]

14 hours ago, sometimewoodworker said:

It looks as if you do not understand the way Thai gold is bought and sold.

 

You get exactly the weight you pay for. 
For a bar of standard Thai gold, you pay for a bar that is 96.5% pure.

 

If you do not want a standard Thai 96.5% pure bar but want 99.99% (999.9) you will pay a higher price per gram and will have very few choices of places to buy.

 

If you want to buy and sell gold bars easily in Thailand you have only 1 choice, 96.5% purity 

There are a very few shops that sell 999.9 gold bars, virtually all are in Bangkok.

There are thousands (probably hundreds of thousands) of shops that will buy and sell 96.5% pure bars, every town has them, every city has quite a few.

 

The current difference between the buying price and selling price is 0.3344481605% or 100฿ Per 15.244 grams.

 

The chances of getting scammed by a gold shop in Thailand is vanishingly small.

as you can see these are the buying prices

for selling prices only 96.5% is quoted I have no idea of the markup for other purities.

Looks to me like you do not get that I was making a joke out of it. Please look at my posts below in this thread.

 

18 hours ago, Gottfrid said:

@desdeash @IvorBiggun2

I do not know who wrote this: Thai gold shops seem to only deal in 1kg gold or silver bars.

However, I just want to share my experience. I know how bad it is. Last time I went into a gold shop, they told me that the smallest they would sell me was 750 gram.

 

 

15 hours ago, Gottfrid said:

Yeah, I know how bad it is. I had 2m in a plastic bag with me.

 

15 hours ago, Gottfrid said:

That´s just too bad! I need it the be exactly the same weight as I pay for.

What do you say? Do you see any of the above comments to be taken seriously? ????????

If we do take is seriously. The thing with this thread is very simple. You just don´t sell foreign standard gold in Thailand, as you will not get the right price for it.
 

Edited August 12, 2022 by Gottfrid

[RandolphGB]

19 hours ago, lopburi3 said:

Thai gold is based on jewelry usage and at 96% (23k) far better than what we call jewelry gold in western countries (14k or less for most).

Jewellery prices are based on the craftsmanship and shop costs. That markup is lost immediately after its bought. 

 

 

 

[Jenkins9039]

If you want to sell, I'd be interested.