How To Buy Gold Or Silver In Los?

[awakened]

Anyone advise how to buy gold in Thailand? I don't need jewellery Just want to be able to park my cash in Gold for a while then move it back into cash as and when. Have only ever bought jewellery before and found it's worth less than I paid for it. Gold coins would seem favourite. Do I get the market rate for gold when I redeem it?

How does the system work and how do I guarantee quality?

[Kerryd]

Anyone advise how

to buy gold in Thailand? I don't need jewellery Just want to be able to park my

cash in Gold for a while then move it back into cash as and when. Have only ever

bought jewellery before and found it's worth less than I paid for it. Gold coins

would seem favourite. Do I get the market rate for gold when I redeem it?

How does the system work and how do I guarantee quality?

Well, where to begin. I haven't seen coins for sale that I can remember, it's usually

chains, bracelets, rings.

Thai gold is "24" carat (or "23" carat, 96.50% pure or something like that.) Many

Thais will buy gold (or have it bought for them), and save it for a rainy day,

having more faith in the gold than in the banks (with good reason ?).

Gold is sold by the "baht" weight at the current market rate, with a small mark-up for the workmanship. A "baht" is a little under half an ounce:

1 baht 15.1 grams .482 troy ounces

2 baht 30.2 grams .965 troy ounces

5 baht 75.6 grams 2.411 troy ounces

Reselling the gold later is usually pretty easy, but of course they are never going to give you full market value for it, so you'd have to make sure the price of gold has gone up enough to make reselling it worthwhile.

This site seems to give a pretty good description (and also sells jewellery):

e-Thai Gold

So does this one:

Thai Baht Gold

I'm sure if you search this forum, you'll find a lot more information on the subject.

Good luck

Edited June 27, 2008 by Kerryd

[astral]

The daily market price of gold is quoted in papers like the Bangkok Post.

Gold is at a pretty high price already.................

Gold chains are easy to buy and sell. The buy/sell prices are very close and will be stable across all gold shops.

The workmanship charge is small.

Gold coins are not readily available and seem to have an unrealistic premium for the minting.

[whopper]

find a larger gold shop. Usually I buy bars in the 5,10 &20 baht weights. The two prices you see in the window are the bid and ask price. Gold shops will usually charge 50 baht for each baht bought or sold.

Ive been doing it for years now and I have never had a problem.

or you can call Kun Tik in chiang mai at 053-234060, she is my broker and speaks excellent english.

[gregb]

Anyone advise how to buy gold in Thailand? I don't need jewellery Just want to be able to park my cash in Gold for a while then move it back into cash as and when. Have only ever bought jewellery before and found it's worth less than I paid for it. Gold coins would seem favourite. Do I get the market rate for gold when I redeem it?

How does the system work and how do I guarantee quality?

Silver is taxed at 7% here, so unless you're prepared to take the hit, you are better off with gold, which is much easier to do in Thailand.

Coins for investment (as opposed to numismatics) are a Western concept. You won't find those here. Go to Singapore, Mustafa Centre if that is what you want.

Bullion is available everywhere. I recommend Ausiris Gold Investments. They sell 96.5% and 99.9% investment bars. Weights are in baht, starting at 5. Their website is entirely in Thai, so you'll have to go talk with them for more information.

Basically, you call them up, pledge an order. Put 10% down within a few hours and the balance within 48. All handled by bank transfer. NO MARKUP OVER SPOT PRICE. Very easy firm to use, but you have to speak Thai on the phone, or have someone do it for you. Generally can pick up your gold the day after you place the order as long as you clear the bill. When you sell, you have to call and fix a price, and they do a bank transfer immediately when you deliver them the gold. Buy/Sell spread is 100 baht.

They tell me their refiner is LBMA listed, but I don't know if that means anything or not, considering I have no plans on buying a 400 oz good delivery bar...

[LivinLOS]

Get a gold savings account... Something like bullionVault.com is fully accredits and your gold is secured, its not a pool account..

Or kitco pool accounts..

Or Perth Certs..

Why deal with all the 'is it pure' issues.. the selling it elsewhere in baht weights, the non standard problems, the risk of theft, etc etc etc..

[Shokdee]

I've read about those Canadian Maple leaf coins - 99.9% pure silver. I've been looking for high purity silver but haven't had any luck. Usually when I mention silver at 99.9% purity to Thai jewelers they shake their heads and say it doesn't exist. Stirling, which most jewelery is made from, is only 92.5% pure. Anyone have ideas where one could find Maple leaf silver coins in Thailand? Or high purity bars/rods?

[bkkjames]

I've read about those Canadian Maple leaf coins - 99.9% pure silver. I've been looking for high purity silver but haven't had any luck. Usually when I mention silver at 99.9% purity to Thai jewelers they shake their heads and say it doesn't exist. Stirling, which most jewelery is made from, is only 92.5% pure. Anyone have ideas where one could find Maple leaf silver coins in Thailand? Or high purity bars/rods?

I think you may be referring to the Canadian Maple Leaf 'Gold" Coins that are 99.9% pure gold? Check on the Royal Canadian Mint Website.

[Shokdee]

I think you may be referring to the Canadian Maple Leaf 'Gold" Coins that are 99.9% pure gold? Check on the Royal Canadian Mint Website.

No, I'm referring to the Silver. If you follow the link to Bordergold from previous post:

"Canadian Silver Maple Leaf Coins are one of the world's most recognized silver bullion coin. After the success of the Canadian gold maple leaf coin, the Royal Canadian Mint began producing the silver maple leaf in 1988."

Made some progress today as I've just discovered that "Karen silver" is 99% pure.

"Thai Hill tribe Karen Silver accessories contain 99% silver, made by skill hilltribe people who live in northern part of Thailand" (sic) from Amitysilver (www.amitysilver.com). Or do a google search for "Karen silver" for more info.

The reason I'm looking for high purity silver is make my own colloidal silver. This has many AMAZING health benefits and can also keep water bacteria free. (Colloidal silver kills viruses/bacteria and can also be used for wound healing). Instead of buying colloidal silver from companies such as Colloidal Silver Asia at inflated prices, it is easy to make using a small amount of high purity silver (coins, rods, rings), a couple of 9V batteries and distilled/rain water.

Edited July 2, 2008 by Shokdee

[Shokdee]

Update my previous post: Got back from Bangkok and was successful in finding 99.99% pure silver. Walking down New Road from Robinson, past the Silom Rd intersection, towards the Post Office, there is a shop that sells pure metals of all descriptions. I bought 100g of 99.99% pure silver for 20 baht a gram. It comes in the form of tiny pellets that look like droplets. They also sell pure gold, copper, zinc, etc. Also in the same area are some shops selling old coins. At one I managed to pick up a 1 oz Canadian maple leaf silver coin 99.99% purity for 2,000 baht. Now to make colloidal silver!