Goldshops

[Sunny337]

Hello, I'm new here, so sorry in case I posted this in the wrong section.. Couldn't find a Gold or Goldshops Topic.

I plan to sell some Gold (the Chinese Gold you get in all the red colored shops). I was wondering, if the goldshops always buy gold, even in times like now, where the gold price is in a record high. I'm just worried that with the current economy and the high goldprices (around a USD 1000 per ounce) they might rather only want to sell instead of buying.... Does anybody know that?

I was at one shop, where I was told that they are not interested in buying. Is that an exception?

Thank you in advance for any suggestions,

sincerely, Sunny

[webfact]

Never heard about that before - a Gold shop refused to buy. As long as it it the 24k "Thai Gold" there should be no problem.

At least not in Bangkoks Yawarat district. Alternatively can pawn your Gold. No need to sell.

[Sunny337]

Never heard about that before - a Gold shop refused to buy. As long as it it the 24k "Thai Gold" there should be no problem.

At least not in Bangkoks Yawarat district. Alternatively can pawn your Gold. No need to sell.

It's real gold... 96.5% = 23k Thai Gold. 24k is unusual I think. Maybe I was just unlucky as I only tried one (small) shop. If I pawn it I assume I would get much less than its real value?? Anyway, I will try again this week.

Thank you for your quick reply.

Edited October 5, 2009 by Sunny337

[hhgz]

"I plan to sell some Gold (the Chinese Gold you get in all the red colored shops)"

What color are the shops that sell "Thai Gold"?

"I'm just worried that with the current economy and the high goldprices (around a USD 1000 per ounce) they might rather only want to sell instead of buying.... Does anybody know that? I was at one shop, where I was told that they are not interested in buying."

It seems as though you managed to answer your own question. What is questionable is trying something only one time, and then giving up.

[trajan]

go to the reputable large (& high volume) shops in Chinatown (Yaowarat Road)...like Hua Seng Heng Goldsmiths (HuaHengSeng dot com)

(dont mess with the small mom & pop places)...

you should have no problems buying or selling Thai gold (96.5% gold)....

I have bought and sold 96.5% Thai gold biscuits (just a 100 Baht per baht weight difference in buy and sell price)...with no problems

(also 96.5% Thai gold chains, bracelets etc. but there is a wider margin between buy and sell prices)

Five Baht weight gold bar = 2.36 troy oz. of gold

[Sunny337]

"I plan to sell some Gold (the Chinese Gold you get in all the red colored shops)"

What color are the shops that sell "Thai Gold"?

"I'm just worried that with the current economy and the high goldprices (around a USD 1000 per ounce) they might rather only want to sell instead of buying.... Does anybody know that? I was at one shop, where I was told that they are not interested in buying."

It seems as though you managed to answer your own question. What is questionable is trying something only one time, and then giving up.

Yes I meant Thai gold shops... they are red But they are mostly owned by chinese. Or chinese Thais...

Well, I have quite a few baht to sell (40). Thats probably why the small shop didn't want to buy. Some solid bracelets and a few rings. Got robbed recently while drunk.. only a one baht ring, but I thought better sell that stuff, than being robbed more. It's anyways not smart to walk around in Pattaya wearing gold.

Edited October 5, 2009 by Sunny337

[WinnieTheKhwai]

> It's anyways not smart to walk around in Pattaya wearing gold.

A ring should be okay though..! Big chains and bracelets I would agree. Those look ridiculous anyway, and not just on Farangs.

[webfact]

Never heard about that before - a Gold shop refused to buy. As long as it it the 24k "Thai Gold" there should be no problem.

At least not in Bangkoks Yawarat district. Alternatively can pawn your Gold. No need to sell.

It's real gold... 96.5% = 23k Thai Gold. 24k is unusual I think. Maybe I was just unlucky as I only tried one (small) shop. If I pawn it I assume I would get much less than its real value?? Anyway, I will try again this week.

Thank you for your quick reply.

96.5% indicates 24k Gold in Thai terminology.

[Sunny337]

> It's anyways not smart to walk around in Pattaya wearing gold.

A ring should be okay though..! Big chains and bracelets I would agree. Those look ridiculous anyway, and not just on Farangs.

I know that rings should be hard to steal. Chains are the easiest, since they can pull it off from behind. But that day I had the ring and a bracelet in my pocket. I was drunk and took a girl, so I thought better not show off.... When I got home the ring was gone (one baht).. the bracelet was still there although it was 5 times the weight of the ring. The bracelet looked not that heavy, but the stupid girl stole only the ring.

[Neeranam]

"I plan to sell some Gold (the Chinese Gold you get in all the red colored shops)"

What color are the shops that sell "Thai Gold"?

"I'm just worried that with the current economy and the high goldprices (around a USD 1000 per ounce) they might rather only want to sell instead of buying.... Does anybody know that? I was at one shop, where I was told that they are not interested in buying."

It seems as though you managed to answer your own question. What is questionable is trying something only one time, and then giving up.

Yes I meant Thai gold shops... they are red But they are mostly owned by chinese. Or chinese Thais...

Well, I have quite a few baht to sell (40). Thats probably why the small shop didn't want to buy. Some solid bracelets and a few rings. Got robbed recently while drunk.. only a one baht ring, but I thought better sell that stuff, than being robbed more. It's anyways not smart to walk around in Pattaya wearing gold.

If I remember correctly, they are all owned by the same family.

I thought guys walked around Pattaya wearing gold because they couldn't get a girl otherwise.

[surangw]

what garentee is there that is real gold?

with all the fake and/or low quality gems being sold in thailand, whats to say the gold is not diluted also?

[britmaveric]

> It's anyways not smart to walk around in Pattaya wearing gold.

Only for those who are careless!!!

[webfact]

what garentee is there that is real gold?

with all the fake and/or low quality gems being sold in thailand, whats to say the gold is not diluted also?

not if you buy it from a Chinese Gold shop or a reputable shop! NEVER buy Gold from a market vendor or a friendly Tuk Tuk driver.

Most likely you will get a Gold plated peace of cra_p...

Edited October 5, 2009 by webfact

[clinique]

The way the price (trend) is moving why dont you but it in a bank and hang onto it for a bit !

[ilyushin]

Gold shops will buy gold jewelry from you at the spot price of gold ie the price of the piece you bought less the design fee although some shops try to give you less. You generally get the best price by selling it to the shop you bought it from. If you exchange you will be charged the design fee for the piece you bought. If you exchange it only a few days after you bought it, you will probably not be charged anything.

[Sunny337]

"I plan to sell some Gold (the Chinese Gold you get in all the red colored shops)"

What color are the shops that sell "Thai Gold"?

"I'm just worried that with the current economy and the high goldprices (around a USD 1000 per ounce) they might rather only want to sell instead of buying.... Does anybody know that? I was at one shop, where I was told that they are not interested in buying."

It seems as though you managed to answer your own question. What is questionable is trying something only one time, and then giving up.

Yes I meant Thai gold shops... they are red But they are mostly owned by chinese. Or chinese Thais...

Well, I have quite a few baht to sell (40). Thats probably why the small shop didn't want to buy. Some solid bracelets and a few rings. Got robbed recently while drunk.. only a one baht ring, but I thought better sell that stuff, than being robbed more. It's anyways not smart to walk around in Pattaya wearing gold.

If I remember correctly, they are all owned by the same family.

I thought guys walked around Pattaya wearing gold because they couldn't get a girl otherwise.

I don't need this bullsh?t Farangs are the worst enemies here... everybody who lives here a few years knows that. The Thais are better friends. They are not always honest, but at least they don't try to hurt you for no reason...

Edited October 5, 2009 by Sunny337

[mizzi39]

Never heard about that before - a Gold shop refused to buy. As long as it it the 24k "Thai Gold" there should be no problem.

At least not in Bangkoks Yawarat district. Alternatively can pawn your Gold. No need to sell.

It's real gold... 96.5% = 23k Thai Gold. 24k is unusual I think. Maybe I was just unlucky as I only tried one (small) shop. If I pawn it I assume I would get much less than its real value?? Anyway, I will try again this week.

Thank you for your quick reply.

96.5% indicates 24k Gold in Thai terminology.

96.5 indicates 23k gold even in Thai terms. The Chinese Thais know the difference between 96.5 and 99.99 which is 24k. You can get 24k in the form of pendents, coins and bullion.

[misspooN]

im sure any gold shop will buy a legit piece of gold, problem is if you not a preferred customer, you will mostly be saddened by the price they offer you. they take out from price a lot more than design fee.

[mizzi39]

im sure any gold shop will buy a legit piece of gold, problem is if you not a preferred customer, you will mostly be saddened by the price they offer you. they take out from price a lot more than design fee.

The selling price and buying price are clearly marked outside of 99 percent of the gold shops. As long as you know the weight and percentage of gold you want to sell, then there will be very little room for getting ripped off.

[bangon04]

96.5 indicates 23k gold even in Thai terms. The Chinese Thais know the difference between 96.5 and 99.99 which is 24k. You can get 24k in the form of pendents, coins and bullion.

Is there a good economic reason why Thailand uses 96.5% instead of the gold standard of 99.9%? Or is it just a case of - you farang you not understand Thais...