Is your Gold really Gold?

[swissie]

Crime is everywhere. Fake Gold on the increase. As I gather, with the help of Bismut/Wismut the specific weight of Gold can nowadays be imitated. Therefore only the surface must contain Gold, what's inside is not Gold. Final proof can only be detected, when a Gold-Bar is sawed in 2 to see "what's inside" (for example). True/False?

Some true "Gold-Bugs" here (having worked in the jewellery/gold business) may be able to shed some light on this.

[Captain Monday]

"Purchase from Reputed Dealers Only"

[OneMoreFarang]

I saw that in a Thai jewelry shop they used a torch to (I think) melt a little of the gold to check if it was real.

I guess if someone is experienced then they should have a good idea what to expect.

 

 

[Captain Monday]

Where can I purchase Gold like this.

 

"Reputed dealers Only"

[david555]

https://www.gold-analytix.com/

 

Professional authenticity test of gold and silver devices

[Lee65]

Is your Gold really Gold?

 

What matters is that the guy buying it off you thinks it is.

[Digitalbanana]

Investing in gold ETFs or futures and there's no need to worry about fake stuff or storage and security costs.

[swissie]

On 5/22/2024 at 7:59 PM, OneMoreFarang said:

I saw that in a Thai jewelry shop they used a torch to (I think) melt a little of the gold to check if it was real.

I guess if someone is experienced then they should have a good idea what to expect.

 

 

That's just the problem: Just to scratch the surface won't disclose what's inside. Tungsten/Molybdenum?

I know, this hasn't made the headlines yet, but there are Mafia-Structures emerging, specialising on this scam. The profit margin is phantastic.

- Above, "david555" has provided a link. A must read for all that are involved in buying/selling physical Gold on a regular basis.

[swissie]

On 5/24/2024 at 1:48 PM, david555 said:

https://www.gold-analytix.com/

 

Professional authenticity test of gold and silver devices

Thanks for the link. Very helpful.

[swissie]

DELIVERANCE AT LAST !

I must no more earn my living in Pattaya as an Elvis impersonator. I'l just buy a Gold testing device (see post from david555 above).

Equipped with this device, I will hop from bar to bar, adressing the ladies with: "Hey sugar babe, for 100 BHT I will test your Gold". I will get rich, get a lot of free drinks and get a lot of  admiring looks from the ladies. Maybe more.

Eureka!

[swissie]

4 hours ago, Digitalbanana said:

Investing in gold ETFs or futures and there's no need to worry about fake stuff or storage and security costs.

In case the ETF is backed by physical Gold/Silver a "carrying-charge" is incorporated in the price of the ETF. Currently the carrying charge for Gold and Silver is near 8% per year. Few people realise this.

In the case of futures, this carrying charge is reflected in form of a "Contago-Situation". (Every time you "roll" a future to a more distant contract, you pay a little more for the new contract).

The opposite is a "backwardation-situation". Very rare! At the moment only happening in crude oil futures.

= There is no free lunch!

[Will B Good]

No, definitely not.....'pukka' gold shop in BKK swindle my wife out of 40,000B.......

[swissie]

On 5/22/2024 at 7:35 PM, Captain Monday said:

."Purchase from Reputed Dealers Only"

In Pattaya, every 300 meters there is a Gold shop. How do you tell a "reputed" dealer from a "non reputed dealer"? The Thai community in my home country prefer to buy Gold here and not in Pattaya. Among other considerations, a Kruegerrand coin is marketable globally as opposed to some mysterious "Thai-Gold".

[Captain Monday]

3 hours ago, swissie said:

In Pattaya, every 300 meters there is a Gold shop. How do you tell a "reputed" dealer from a "non reputed dealer"? The Thai community in my home country prefer to buy Gold here and not in Pattaya. Among other considerations, a Kruegerrand coin is marketable globally as opposed to some mysterious "Thai-Gold".

Yeah I wouln’t usually buy in Thailand either but I would like to hoard one of those lumps

 

I offered a Maple Leaf in Chiang Mai in a main shop near warrorot market just to see what would come back with. They said not interested as if “farang”  gold is not wanted. 

[swissie]

On 5/26/2024 at 9:25 PM, Captain Monday said:

Yeah I wouln’t usually buy in Thailand either but I would like to hoard one of those lumps

 

I offered a Maple Leaf in Chiang Mai in a main shop near warrorot market just to see what would come back with. They said not interested as if “farang”  gold is not wanted. 

On the other hand, I tryed to sell some Thai Gold in Switzerland a couple of years ago. (Jewellery). Banks woulden't touch it. Gold deales wanted to send it to an "assayer" first. Best offer finally was 30% below Gold price per Oz. Sold it eventually in Thailand for a fair price.

Apart of this: In a time of "crisis", how much would one get for Gold on the black market? 1 loaf of bread for 1 Oz of Gold?

Seems that shortly after WW2 the Germans that had US $ fared better than "Gold-Owners".
But that's another story.

[Yellowtail]

On 5/24/2024 at 6:21 PM, Captain Monday said:

Where can I purchase Gold like this.

 

"Reputed dealers Only"

 

Hua Seng Heng, the have a number of locations, I only ever traded with the one at Seacon Square. 

 

Hua Seng Heng - Hua Seng Heng