Where Is The Best Place To Sell Gold Coins In Thailand?

[ding]

Where is the safest place to sell gold coins such as Canadian Maples or American Eagle coins in Thailand? Who gives the best price. I don't let my stuff go into any backroom to get nicked so I might be considered a tricky seller.

Edited March 20, 2009 by ding

[Boater]

gold shop?

[yogi]

china town,bangkok

[Jake1]

Why not offer them up on this site? They shouldn't be hard to move if you're selling at or near spot

[Naam]

Why not offer them up on this site? They shouldn't be hard to move if you're selling at or near spot

the problem is that investors in coins have paid a hefty (in my view unjustified) premium over spot which naturally they want to recover but potential buyers in Thailand are not willing to pay.

[luvU2much500THB]

Why not offer them up on this site? They shouldn't be hard to move if you're selling at or near spot

the problem is that investors in coins have paid a hefty (in my view unjustified) premium over spot which naturally they want to recover but potential buyers in Thailand are not willing to pay.

Sell them back in your home country for a better prize.

[ding]

Thanks for the replies. I'm thinking the Maple is not of rare coin type numismatic value, just spot plus some small % for mint value.

Canadian Maple $1,029 when spot is $953 now. It's legal tender in Canada but I wonder if any banks will give you the exchange rate rate of the spot value?

I figure anywhere in Yaowarat would be happy to see me walk in with an ounce of gold!

I have an idea that things could get uncontrolled as my fellow countrymen discover what it's like to have to live hand to mouth, so I want to be able to get a plane ticket fast here in the US. Then I want to be able to exchange gold for legal tender in Thailand.

Don't have much, just enough for upheaval avoidance.

[Jake1]

Why not offer them up on this site? They shouldn't be hard to move if you're selling at or near spot

the problem is that investors in coins have paid a hefty (in my view unjustified) premium over spot which naturally they want to recover but potential buyers in Thailand are not willing to pay.

People are buying coins faster than the mints are spitting them out. Many dealers are paying $20 over spot for coins. AE's might even be higher now. I think the premium on Silver coins is rediculous but paying an extra $15 - 20 to get an ounce of gold in coin form instead of a bar isn't too bad.

[Jake1]

Thanks for the replies. I'm thinking the Maple is not of rare coin type numismatic value, just spot plus some small % for mint value.

Canadian Maple $1,029 when spot is $953 now. It's legal tender in Canada but I wonder if any banks will give you the exchange rate rate of the spot value?

Most reputable dealers sell Maples for $45-50 over spot. I wouldn't expect to get more then $20-30 over especially with Thai gold being so close to spot. But best of luck.

[OriginalPoster]

Thanks for the replies. I'm thinking the Maple is not of rare coin type numismatic value, just spot plus some small % for mint value.

Canadian Maple $1,029 when spot is $953 now. It's legal tender in Canada but I wonder if any banks will give you the exchange rate rate of the spot value?

Most reputable dealers sell Maples for $45-50 over spot. I wouldn't expect to get more then $20-30 over especially with Thai gold being so close to spot. But best of luck.

Just for reference, this is what Kitco is paying their customers for Gold Maple Leaf Coins:

1 oz Maple .999 : $948.10

1 oz Maple .9999 : $950.10

1 oz Maple .99999 : $973.65

At the time the above prices were quoted, the spot price of gold was 952.60.

If you can get a Thai dealer to pay you more than the above, I'd say that you are doing well. To get the big premiums over spot mentioned in previous posts for them, you might need to sell them directly to another investor instead of to a dealer.

Edited March 21, 2009 by OriginalPoster

[flying]

Why not offer them up on this site? They shouldn't be hard to move if you're selling at or near spot

the problem is that investors in coins have paid a hefty (in my view unjustified) premium over spot which naturally they want to recover but potential buyers in Thailand are not willing to pay.

The average still seems to be about 50 bucks an ounce in the US for most coins. More for Eagles...( God knows why ) But other than that it is funny how that spot has pretty much stayed about the same since the 700/ounce range days.

Some places do charge a flat % of 5-7 over but they have a 10 oz min. Again surprising considering places like Ampex is always 5% or less on ounce & even less on bulk. Yet others like Tulving with 20 oz min has equal or more above spot prem

Buyer beware as always I guess.

Edited March 21, 2009 by flying

[loong]

As far as I know, The Thai gold shops are not too keen on foreign gold. Some will not be at all interested I'm sure.

Maybe there are some coin dealers, but I've never seen one.

[eljeque]

A friend of mine has been selling his 1913? Austrian coins at a gold shop in Paragon, and receiving 2,000 baht / coin mor than the gold shops have offered him in Pattaya. PM me and that will remind me to find out the name of the shop for you.

And, in the future, if you are able, try to stick to gold bars, as trying to get back the premium you pay for coins is difficult.

[JimsKnight]

Where is the safest place to sell gold coins such as Canadian Maples or American Eagle coins in Thailand? Who gives the best price. I don't let my stuff go into any backroom to get nicked so I might be considered a tricky seller.

I can tell you exactly where. The same place I go to if I'm in Bangkok.

It's a place in Silom / Patpong.

Before you all say 'Oh No not Patpong' the guy is chinese and his gear and stuff is A1.

He's used to dealing with farang and speaks good english.

I took my 1 oz Kuggerand to him and he knew the score straight away. No fawning bs or 'Not Thai Gold, cannot accept'

He valued it at market rate. Abated the 4% copper and quoted me 22k baht at October 08 rates.

Here's the place:

The Gold Guru himself...

If you look closely you can see my gold coin dinked on the scales

[ding]

Great advice folks, many TY's!

I like that there is a scale in the clear glass case in the pic. I don't imagine there's a calibration certification sticker on it, however. TIT -Maybe I could print one out here and send it to him! lol

The info here is very helpful and I've saved it for reference should the merde meet the fan.

American Eagle having more of a margin is a display of uninformed preference I bet, the Maple is a tad bit more pure.

I'm having more trouble finding a sure way to sell it here in the states, quickly and at a good rate. But there's no Thaivisa in the states...

[ThaiJamesBond]

if anyone interested. I have more than a few australian kangaroo, krugerand, Austrian, canadian maple 1 oz coin. I am willing to share them to this group as I am a Thai collector and find that when I buy them I pay 100usd premium when I sell them i have to give in some discount over spot. 

I also have a lot of silver coins: maple

 

The coin shop at Ausiris Silom, is selling one oz for 600000 Baht (1922USD and buy back at 56000 thats 1800 usd. given USD/THB today at 31.21- 

[digbeth]

Shops that makes their own gold Jewellery will happily take them 

 

https://www.goldtraders.or.th/DailyPrices.aspx

this is the daily spot price from the Thai gold trader's shops would based their buy/sell price off this, 

for 99.99% 24Kgold, look at the last row, first column is price per gram, the middle is price per baht weight (15.244) grams, 

 

if the shops would only give you price for their usual thai gold (96.5%) you're getting ripped off at around 100 baht per gram