Gold Purchase

[jeb]

I was wondering about sources here in Thailand for small amounts in coin or plain metal.

Or any source with reasonable values and shipping.

Are there regulations for possession? I remember reading something about regs when traveling into Thailand.

[whopper]

there are shops everwhere. I don't know any rules or regs regarding possession. Thai gold is 96.5% and can be bought in 5,10 baht bars and some larger. I hold mine at the bank. don't know about shipping. one of my dealers is 053-234-060, her name is "tik" and speaks english well, honest etc.

[JimmieBlonde]

I bought 3 baht on Monday, buy was 11300, sell I think 11000baht per baht.

I have read a few times and seen links that show exporting gold is illegal, even though most of it is imported.

One of the best valued deals you can get in thailand is buying gold because you loose such a small percent when selling back

[ronw]

One of the best valued deals you can get in thailand is buying gold because you loose such a small percent when selling back

Now you have totally confused me.......

How can it be a good deal, when you lose, when you sell it back?

That to me , sounds like a BAD deal!!

Now on your reasoning...let me sell to you,say, my old underpants, for 10,000 Baht....then later, I can buy them back from you for , say, 9,000 baht.....NOW THAT'S A GOOD DEAL!

Edited September 13, 2007 by ronw

[naka]

I was wondering about sources here in Thailand for small amounts in coin or plain metal.

Or any source with reasonable values and shipping.

Are there regulations for possession? I remember reading something about regs when traveling into Thailand.

Buy in Thailand or bring into Thailand ?

Naka.

[Heng]

One of the best valued deals you can get in thailand is buying gold because you loose such a small percent when selling back

Now you have totally confused me.......

How can it be a good deal, when you lose, when you sell it back?

That to me , sounds like a BAD deal!!

Now on your reasoning...let me sell to you,say, my old underpants, for 10,000 Baht....then later, I can buy them back from you for , say, 9,000 baht.....NOW THAT'S A GOOD DEAL!

Presumably he is allowing X years to elapse before selling and comparing to say other forms of metals or gems perhaps (the worst).

Myself I don't care much for gold as it's a bit too bulky to transport, although I do see how some folks are able to hold onto gold better than they do cash.

Edited September 13, 2007 by Heng

[Maigo6]

Wish I'd bought a few Million bahts worth of Gold 12 - 15 years ago, would have made a very nice profit selling it at todays price in Thailand.

[lazeeboy]

Wish I'd bought a few Million bahts worth of Gold 12 - 15 years ago, would have made a very nice profit selling it at todays price in Thailand.

bought a 10 baht gold chain in 1997 for 38000b ,sold it last year for 103500b last year ,bought gold in uk lost fortunes .

[Thaicoon]

Wish I'd bought a few Million bahts worth of Gold 12 - 15 years ago, would have made a very nice profit selling it at todays price in Thailand.

bought a 10 baht gold chain in 1997 for 38000b ,sold it last year for 103500b last year ,bought gold in uk lost fortunes .

Wife also bought that year, i think it was about 4000 baht a baht, i also wish i had bought more, damm good investment, most thais buy and sell in a few weeks and make nothing, to make money you have to keep as a nesteg. well done.

[phomsanuk]

Wish I'd bought a few Million bahts worth of Gold 12 - 15 years ago, would have made a very nice profit selling it at todays price in Thailand.

I bought gold as it rose 25 or so yrars age, sold it after 15 years and lost my ass...... ...

[DefaultName]

I bought a 10 baht chain 3 years back at the end of a trip that turned out a lot cheaper than expected. It's a bit of bling when I want it and will magically transform into a motorcycle in 10 years when I move out there.

[blizzard]

selling gold bck to dealer is not a good idea. they will offer you less than you think.

selling back to dealer is mostly beneficial when you received gold as gift. ie, farang buying gold jewelry for his favorite thai lady who wants to convert to cashable baht.

[ChiangMaiMike]

What about foreign gold bullion coins? Anyone know place to buy/sell for fair price? Candian Maple Leafs, American Eagles, for example?

[chonburi]

Unless you're expecting the international situation to get even worse than it is today I would think this is entirely the wrong time to buy gold. In my opinion gold is probably very close to as valuable as it's going to get, the increase in price has been steady since 9/11 but unless you really believe it must get worse, then look for some other investment.

In respect to it's resale value, Thai gold or gold bullion generally will certainly be better than any of the standard western alloys used in jewellery, such as 9-10k, 14-18k or even 22k. These are often called Torng k gold karat) in Thailand but the lower karats are regarded more as Torng kee (shit gold).

[Naam]

What about foreign gold bullion coins? Anyone know place to buy/sell for fair price? Candian Maple Leafs, American Eagles, for example?

american Eagles are collector's items and sell with a huge premium. you have to go for Maple Leaf or Krügerrand.

[bowthai]

american eagles are 22k and the new american buffalos are 24k.i have dozens of only 24k bullion coins mostly china pandas,canadian maple leafs,aussie kangaroos,and austrian philharmonics.pandas are my favorite as they change the designs every year and they gain the most numismatically compared to the other coins.

i stick with only internationally recognized 24k gold coins and avoid thai baht gold.uob bank in singapore buys and sells gold bullion coins.

https://online.kitco.com/bullion/

http://www.apmex.com/Category/502/Gold.aspx

[ChiangMaiMike]

What about foreign gold bullion coins? Anyone know place to buy/sell for fair price? Candian Maple Leafs, American Eagles, for example?

american Eagles are collector's items and sell with a huge premium. you have to go for Maple Leaf or Krügerrand.

Actually, millions of American Eagles have been minted by the U.S. since 1986 as bullion... But the original question remains... Is there any place in Thailand that trades them and other gold bullion coins?

[realmadrid25]

sin sot subject not allowed thank you

[CTM]

"American Eagles use the durable 22 karat standard established for gold circulating coinage over 350 years ago. They contain their stated amount of pure gold, plus small amounts of alloy. This creates harder coins that resist scratching and marring, which can diminish resale value."

American Eagles are one of the most recognized and easily traded gold bullion coins in the world. ###### there are some ignorant comments on this thread.

[bowthai]

unfortunately the international gold buyers and jewelry makers were passing up the 22k eagles for 99.99% pure maple leafs,etc., by a huge margin thus the mint brought out the 24k buffalos to compete for the world market and not just the american market.a 22k coin weighing 1.2 ounces still has filler and the world and jewelers avoid it.

[ChiangMaiMike]

unfortunately the international gold buyers and jewelry makers were passing up the 22k eagles for 99.99% pure maple leafs,etc., by a huge margin thus the mint brought out the 24k buffalos to compete for the world market and not just the american market.a 22k coin weighing 1.2 ounces still has filler and the world and jewelers avoid it.

According to Certified Gold Exchange, Inc... "American Gold Eagles -- 1 oz., ½ oz., ¼ oz. and 1/10 oz. -- have become the most widely traded gold bullion coins in the world."

Also, Mining Interactive states, "The most popular gold bullion coin is the U.S. Gold Eagle."

I don't know where you get your information, but it would seem to me that the Buffaloes were introduced for the numismatic market and not for "international gold buyers and jewelry makers"...jewelers wanting to buy gold to make jewelry would not be so stupid to buy coins when gold bars are cheaper. And those international buyers who buy in volume haven't flocked to the Buffaloes because the packaging required to keep them in mint condition make them a pain to store and handle... But maybe you're an expert about "international markets and jewelers" and have more information than I was able to glean off a few web sites.

[A_Traveller]

Not to be too difficult here, but given the relative brevity of the US Mint's Bullion coin programme, I would find it hard to believe that the US coin is the 'most traded' especially when compared to the British Sovereign, 1887 to 1932 and then from 1957 to date {just UK} often with the numismatist premium.

Regards

[bowthai]

The U.S. Mint has sold 22-karat gold coins known as American Eagles since 1985, but Deputy Director David A. Lebryk said the new offering is aimed at investors who want coins that are pure gold. He estimates that the world market in gold coins is divided between sales of 24-karat coins such as the Canadian Maple Leaf, which account for 60 percent of the market, and more durable 22-karat coins, a category dominated by the American Eagle. Last year the mint sold 420,000 American Eagle coins, which also have a face value of $50 and contain 1 ounce of gold plus some alloy metal for durability.

http://www.washingtonpost.com/wp-dyn/conte...6061901187.html

"The United States Mint intends to match and exceed world class business practices with this new 24-karat gold bullion coin," said Henrietta Holsman Fore, director of the U.S. Mint, in a statement.

"There is a demand, both here and abroad, for 24-karat gold coins," she said. "We want to meet this demand by providing the highest quality and most beautiful coins in the world."

According to the Mint, the global market for 24-karat bullion coins is $2.4 billion.

It's clear that the government is responding to competitive pressure. As much as 60 percent of investor-grade gold coins sold internationally last year were 24-karat, with Canada's Maple Leaf piece one of the most popular.

Until now, the highest grade U.S. coins have been the 22-karat American Eagle series, first introduced in the 1980s after Congress banned the sale of South African Krugerrands to protest apartheid.

The Mint claims that the American Eagle accounts for 95 percent of all gold coin sales in the United States. But on the much larger international market, 24-karat pieces are more popular. Washington found itself without an entry in the field.

http://money.cnn.com/2005/04/19/pf/gold_coin/index.htm

[Lucifer]

Wish I'd bought a few Million bahts worth of Gold 12 - 15 years ago, would have made a very nice profit selling it at todays price in Thailand.

Or, you could buy a few million bahts worth now, and sell it in 12-15 years time.

[Scott]

So, as a previous poster asked, WHERE can you buy internationally recognized gold coins?

[whopper]

my dealer in chiang mai is khun"tik", she speaks english and can answer most of your questions I believe, her phone number is 053-234-060

[h5n1]

Yeah, I would not buy gold. It's just futures and spec that are driving the rates. When the dollar settles so will gold. Remember the 70s OUCH.

[ChiangMaiMike]

my dealer in chiang mai is khun"tik", she speaks english and can answer most of your questions I believe, her phone number is 053-234-060

Whopper has also revealed to me that he has seen gold coins in her shop in Chiang Mai...

[CTM]

Anyone making a large purchase might consider the Perth Mint Certificate Program. No storage fees on unallocated. Low transaction fees. Gold, Silver and Platinum available.

The boxes at my local bank don't look too secure and are not insured. I wonder about the wisdom of tempting the locals by dropping a million baht in gold in one of them.

If any of you are having trouble selling your Eagles, I will be more than happy to give you the legal tender value.

I saw some coins at the Morning Market in Vientiane. He wanted something like $100 - 150 over spot price. I just laughed and muttered something about his mother while walking away.

Edited September 17, 2007 by CTM

[ChiangMaiMike]

BowThai... thanks for informative articles. Guess I was taken in by some ethnocentric American Companies...

I also find it interesting that they chose to reproduce the buffalo nickle in gold... I guess it's the American way of preserving two of the things they have nearly exterminated... And also find it interesting it's referred to as the 'Buffalo' when the American Indian is on the obverse...