Where To Buy Gold Bars

[whatsoever]

Does anyone know were to buy gold bullion (bars eg.) in Pattaya or BKK?

thanks

[whopper]

;I buy and sell alot in chiang mai. It seems the larger gold shops deal in the 5,10and 20 baht bars

[coventry]

Any gold shop. They charge you the rate it is at time of purchase, that doesn't alter once you've bought. The bars will be delivered from BKK a few days later.

Edited May 29, 2008 by coventry

[Tod Daniels]

The largest gold shop in China Town whose name eludes me at the moment, but is the one with the 30+ Foot long counter where you hafta push yourself to the front or lose your place is the one I mean. They was able to get me gold bars in almost any weight I requested.

I am sure the other poster who said any gold shop can meet your needs is also correct but I always go to the one in China Town.

[chiangmaibruce]

hi. I haven't dealt with them but I saw the ceo quoted in an article in the bkk post last week and checked out their web site

www.ausiris.co.th

[jingjingna]

Just one major problem with the Canadian Company: For Sale in Canada and U.S ...So, not relevant to us living in Thailand, don't you think?

[stevehaigh]

if you simply want to invest in gold, you could buy gold ETFs. look up symbol, GLD, it tracks the price of gold during NY stock trading hours and is much easier to buy and sell with a smaller spread than the real thing and no security issues.

[whopper]

make sure you understand the irs considers gold a collectable after one year and is taxed at a 28% tax rate.

[Naam]

make sure you understand the irs considers gold a collectable after one year and is taxed at a 28% tax rate.

since when does the IRS tax any collectibles and how would the IRS know that one possesses collectibles?

Edited June 1, 2008 by Naam

[whopper]

If you buy the ETF, Gld via the NYSE and report a capital gain.

[Naam]

If you buy the ETF, Gld via the NYSE and report a capital gain.

that's correct but ETFs are not collectibles

[whopper]

the ETF , Gld is considered a collectable by the IRS.

[Naam]

the ETF , Gld is considered a collectable by the IRS.

says who?

[A_Traveller]

I may be in error {not a US citizen} but my understanding was that the US IRS view was that since the ETFs own gold, they would be subject to taxation based on that, under the collectables provision. //bad connexion so late edit/ I believe they use this provision to ensure they capture physical gold holdings, even if in coinage form. //

Regards

/edit the mad typist strikes again...

Edited June 1, 2008 by A_Traveller

[whopper]

the ETF , Gld is considered a collectable by the IRS.

says who?

the IRS.

[Naam]

anything you buy in the financial markets is subject to capital gains (if you are a U.S. taxpayer and sell with a gain). ETFs are derivatives and therefore no collectibles (or if you prefer collectables). of any collectibles bought and sold in open markets (auctions, private, etc.) the IRS has no knowledge and cannot tax them. however, estate tax and/or capital gains might apply in case of death. i was a U.S. taxpayer for a considerable number of years. the value of the collectibles in my home was greater than the value of the home itself. nobody ever taxed them

[Naam]

the ETF , Gld is considered a collectable by the IRS.

says who?

the IRS.

prove it.

[A_Traveller]

^^ I agree that an ETF should be treated as a derivative {so does Barclays and State Street} but my understanding and this is reflected within the market is that gold ETF's are subject to tax treatment as a collectible.

Regards

^ Re prove it:- one could be tempted to say disprove it. However, in a recent private ruling the IRS have stated that shares in trusts that solely hold gold shall not be treated as 'collectibles' [noun] for IRA purposes only. It would be reasonable to assume the corollary of that is that outside this narrow definition the ruling stands.

Edited June 1, 2008 by A_Traveller

[whopper]

anything you buy in the financial markets is subject to capital gains (if you are a U.S. taxpayer and sell with a gain). ETFs are derivatives and therefore no collectibles (or if you prefer collectables). of any collectibles bought and sold in open markets (auctions, private, etc.) the IRS has no knowledge and cannot tax them. however, estate tax and/or capital gains might apply in case of death. i was a U.S. taxpayer for a considerable number of years. the value of the collectibles in my home was greater than the value of the home itself. nobody ever taxed them

Investors should be aware that the tax treatment on gains from physical metal isn’t the same as with stocks.

The IRS treats physical gold as a “collectible,” subject to a maximum tax rate of 28% if held for more than one year, compared with 15% for long-term gains on stocks. If a gold ETF is sold in less than a year, any gains are taxed as ordinary income. As always, investors are best served by consulting a tax adviser

http://msnmoney.brand.edgar-online.com/EFX...jD3hWZnjVRJFbg9

[whopper]

the ETF , Gld is considered a collectable by the IRS.

says who?

the IRS.

prove it.

Investors should be aware that the tax treatment on gains from physical metal isn’t the same as with stocks.

The IRS treats physical gold as a “collectible,” subject to a maximum tax rate of 28% if held for more than one year, compared with 15% for long-term gains on stocks. If a gold ETF is sold in less than a year, any gains are taxed as ordinary income. As always, investors are best served by consulting a tax adviser

[Naam]

The IRS treats physical gold as a “collectible,” subject to a maximum tax rate of 28% if held for more than one year

thanks Whopper, a clear answer.