Gold Shop.

[NoshowJones]

There is a gold shop in Soi Post Office in Pattaya which I was wanting to use, I spoke with a lady and was quite impressed, until she said cash only. Can she be serious? I don't want to walk around with all that cash in my pocket or body bag.

It seems I cannot use my debit card or bank transfer from my Bangkok Bank App. What would you do?

[champers]

Go somewhere else.

[JensenZ]

36 minutes ago, NoshowJones said:

There is a gold shop in Soi Post Office in Pattaya which I was wanting to use, I spoke with a lady and was quite impressed, until she said cash only. Can she be serious? I don't want to walk around with all that cash in my pocket or body bag.

It seems I cannot use my debit card or bank transfer from my Bangkok Bank App. What would you do?

I don't think any gold shops will allow payment by plastic. it's a cash business. You hand over cash, they hand you gold, which is equal to cash and both are anonymous, unrecorded transactions. If you go to sell your gold, they pay you with cash. No ID is required to buy or sell gold.

 

If you're very concerned about carrying wads of cash, then choose a gold shop in a major shopping mall. Make your withdrawal at the ATM or over the counter at a mall bank, and minutes later, buy your gold. All malls have gold shops and banks. The price of gold is fixed at all shops and updated frequently so you'll get the same deal.

Edited February 18, 2023 by JensenZ

[EVENKEEL]

If you're uneasy carrying cash, what will you do when you're carrying the gold.

[JensenZ]

23 minutes ago, EVENKEEL said:

If you're uneasy carrying cash, what will you do when you're carrying the gold.

Yes, the risk of losing it is about equal.

[Emeraldisle]

I went to a gold shop in Pattaya to buy gold (obviously). I asked if I could pay with credit card.  The lady in shop said "yes" but that I would be charged a commission.  I forget what % commission.  I know, from my financial services experience, that all merchants , in this case the gold shop, are charged a commission by the credit card company.

I did as previously suggested by another poster.  Went to a nearby atm and withdrew cash. Kept the gold in hotel safe.

[bkk6060]

Go from the Bank to the shop.  You will get robbed or lose it in 5 minutes?

[FritsSikkink]

6 hours ago, JensenZ said:

Yes, the risk of losing it is about equal.

Probs bigger when you wear it on P. beach road.

[riclag]

6 hours ago, Emeraldisle said:

I went to a gold shop in Pattaya to buy gold (obviously). I asked if I could pay with credit card.  The lady in shop said "yes" but that I would be charged a commission.  I forget what % commission.  I know, from my financial services experience, that all merchants , in this case the gold shop, are charged a commission by the credit card company.

I did as previously suggested by another poster.  Went to a nearby atm and withdrew cash. Kept the gold in hotel safe.

1-3%   ! 

[JensenZ]

1 hour ago, FritsSikkink said:

Probs bigger when you wear it on P. beach road.

Yes, good point. If you buy Thai gold (96.5%) jewelry and wear it around your neck or wrist, it's like having cash on open display, and even easier to steal.

 

Your point brings up an interesting question. If the OP is so afraid to take cash to a gold shop, what does he intend to do with the gold? Surely he or his partner don't intend to wear it... and if you're buying it as an investment, you should be buying the gold bars all gold shops sell. Same 96.5%, but no jewelry manufacture cost and lower commission.

Edited February 18, 2023 by JensenZ

[still kicking]

I don't know or understand why anybody wants to wear any gold neckless or bracelet all I wear is a cheap omega watch 

[Ralf001]

2 hours ago, still kicking said:

 all I wear is a cheap omega watch 

Good for you Bro.

[2baht]

Talk to a ladyboy on Beach Road, they know all about people flaunting gold in Pattaya!

[BananaStrong]

4 hours ago, still kicking said:

I don't know or understand why anybody wants to wear any gold neckless or bracelet all I wear is a cheap omega watch 

I don't understand why ANYBODY wants a nice house, can't they just live in a 3000 baht room??!?!!  Do they need 9 bathrooms!!

 

Why have a nice car, my 1975 pinto can go 60 kph!!!!

 

Why a nice watch, just get a $10 disposable.

 

why nice pants...why a nice shirt.....why real diamonds....why gold, why silver, why anything expensive!!!

 

yea, cheap is the way!!!!!  You are living the Thailand dream!!!!   Cheap Charlie for life!!!!!!

 

Why get in a private jet, I ride a bus.......

[Shop mak]

17 hours ago, NoshowJones said:

There is a gold shop in Soi Post Office in Pattaya

 

There is 2 ATM in soi Post Office,

 

One outside 7eleven, the other near second road.

 

[NoshowJones]

7 hours ago, JensenZ said:

Yes, good point. If you buy Thai gold (96.5%) jewelry and wear it around your neck or wrist, it's like having cash on open display, and even easier to steal.

 

Your point brings up an interesting question. If the OP is so afraid to take cash to a gold shop, what does he intend to do with the gold? Surely he or his partner don't intend to wear it... and if you're buying it as an investment, you should be buying the gold bars all gold shops sell. Same 96.5%, but no jewelry manufacture cost and lower commission.

Buying gold bars. So you are saying all gold shops sell them? I asked in a gold shop in Soi Buckawo, they don't sell them.

[NoshowJones]

48 minutes ago, Shop mak said:

 

There is 2 ATM in soi Post Office,

 

One outside 7eleven, the other near second road.

 

I only ever draw cash from an ATM at a branch of my bank.

[NoshowJones]

Another poster who get's confused with English. Not too worry,  English Native Speakers are always welcome in this forum.

[EVENKEEL]

8 minutes ago, NoshowJones said:

Buying gold bars. So you are saying all gold shops sell them? I asked in a gold shop in Soi Buckawo, they don't sell them.

We recently bought some gold at the Big C on Klang and they had 1,5 and 10 baht bars.

[Dante99]

18 hours ago, NoshowJones said:

It seems I cannot use my debit card or bank transfer from my Bangkok Bank App. What would you do?

Bank transfer works at many gold shops, I would even venture to say most shops.  I think you may have a communications problem.

 

 

[Dante99]

13 minutes ago, NoshowJones said:

Buying gold bars. So you are saying all gold shops sell them? I asked in a gold shop in Soi Buckawo, they don't sell them.

Most of the large shops sell them.  Really no problem to find them.

[NoshowJones]

8 minutes ago, Dante99 said:

Bank transfer works at many gold shops, I would even venture to say most shops.  I think you may have a communications problem.

 

 

No, the lady said "cash only" in English.

[NoshowJones]

9 minutes ago, Dante99 said:

Most of the large shops sell them.  Really no problem to find them.

Yes, I think your right.

[NoshowJones]

2 hours ago, NoshowJones said:

Buying gold bars. So you are saying all gold shops sell them? I asked in a gold shop in Soi Buckawo, they don't sell them.

Another confused poster. Native English Speakers are also welcomed on this forum.

[connda]

19 hours ago, JensenZ said:

No ID is required to buy or sell gold.

Depending on the shop.  Some shops will require ID which makes me think that their is now a Thai law in place, which from a government position makes sense as gold prices go up as fiat is debased.  Then the government wants their share of the capital gains even though all you did was purchase an asset that maintained its nominal value.

Anyway, just saying.  Some shops require ID.  Why?  I'm not really sure.

[JensenZ]

On 2/19/2023 at 2:17 AM, still kicking said:

I don't know or understand why anybody wants to wear any gold neckless or bracelet all I wear is a cheap omega watch 

Surely you understand that a lot of people like to wear jewelry. Gold has been used as jewelry for at least 6000 years. The Thai gold jewelry industry revolves around people who like to wear their gold instead of keeping it locked up in a safe. That's the whole point of gold shops stocked full of finely crafted 96.5% gold jewelry.

 

The problem is that it is so easy to convert to cash, making it a great target for thieves. It's the next best thing to cash.

 

There are still plenty of safe places to wear it. Pattaya Beach at night time is not one.

 

 

 

[rankric]

20 hours ago, BananaStrong said:

I don't understand why ANYBODY wants a nice house, can't they just live in a 3000 baht room??!?!!  Do they need 9 bathrooms!!

 

Why have a nice car, my 1975 pinto can go 60 kph!!!!

 

Why a nice watch, just get a $10 disposable.

 

why nice pants...why a nice shirt.....why real diamonds....why gold, why silver, why anything expensive!!!

 

yea, cheap is the way!!!!!  You are living the Thailand dream!!!!   Cheap Charlie for life!!!!!!

 

Why get in a private jet, I ride a bus.......

I bet if you posted a photo of your fridge now. Showing the contents, focussing in on the expiration date of an item  You would be exposed as a cheap charlie yourself. Obviously you would never do it.