Buying And Storing Gold In Thailand

[CrossBones]

Hi

Time to turn my baht into gold.... im worried about the current political situation and feel its not good to hold baht at the moment

Where is the best place to buy gold blocks in thailand with no risk of getting ripped off.. even if i pay a bit more for them

Where is the best place to get a security box? I dont want to get one in a small bank branch.. what happens if the bank moves or closes could be a problem finding out where my box went... just planning ahead

Thanks

[patong]

The gold bar price of course changes daily with the price of gold. Large gold bars are a useful safe haven for storing assets for the long term in economic uncertainty, while the smaller gold bars can be easily bought, stored, transported and sold for the short term.

Types of Gold Bars

There are basically two types of gold bars. Cast and minted.

Cast gold bars are produced by pouring molten gold into molds. These are usually called ingots. They are rough and the markings, such as the foundry or manufacturing mark, gold purity and registration number are pressed into the gold. Although gold is quite dense it is nevertheless quite soft and easy to manage.

Cast gold bars are manufactured by around twenty-seven accredited manufacturers around the world. They produce small cast bars in many gold bar weights including in kilos, grammes (usually 500g or less) and in twenty ounces or less sizes. The smallest cast gold bar known weighs 10 grams and is made in Brazil. More popular cast gold bars are manufactured in Brazil, Europe and Japan, The ounce bars are made in Australia, Europe, UK and the USA.

Minted bars are manufactured from gold that has already been poured into a mound and then drawn out into strips. The gold bullion bars are then stamped out to the required sizes and shapes and the markings, in this case, are applied during the minting process.

Gold coins are produced in the same way incidentally, although more care is applied during the stamping process to produce the finer finish of the coins.

There are four accredited manufacturers of the standard minted bars. These are:

Argor-Heraeus. A subsidiary of Union Bank of Switzerland

Metalor. A subsidiary of Swiss Bank Corporation

Valcambi. A subsidiary of Credit Suisse

Pamp SA

They produce around 35 percent of the worlds minted gold bars. The bank subsidiaries also issue their bars with the bank brand name so are easily recognisable.

Gold Bar Purities

All gold bars have a purity expressed in units per 100, 1000 or 10000. There is a universal trend now for bars to be 99.99%, however, there is still some variation in some countries. For example:

Dubai - 99.9%

Iran - 99.5%

Hong Kong - 99%

Thailand - 96.5%

A new product, called ChipGold, has also entered the market. This is a relatively new form of gold bar, consisting of a small ingot of one to twenty grams presented in a sealed and certified package, about the size of a credit card. Chip Gold is designed to be used as a liquid investment in gold and can be easily stored and transported. The typical weights available include, one through to twenty grams with a purity of .9999 fine gold.

The granddaddy of all gold bars is the larger 400 oz (12.5 kg) ‘London Good Delivery’ bars. These are held by central banks and used by banks, governments and large institutions to store value and to transfer value between banks, They almost always have a purity of 99.5 percent.

Gold Bar Weights

All gold bars are denominated in different units of weight to accommodate the various cultural preferences of different geographical regions:

Grammes. International

Ounces. Mostly English-speaking countries: USA, UK and Australia

Tolas. Mainly India, Pakistan, Middle East, Singapore

Taels. In the main, Chinese-speaking countries: Hong Kong, Taiwan, China

Bahts. Thailand

Chi. Vietnam

Dons. Korea

One troy ounce is equal to 31.1034768 grams. So if gold was 900 dollars an ounce then one gram would be worth about 28.935673 dollars.

Gold is measured in troy ounces as distinct to the more common avoirdupois ounce which is used for food and slightly lighter than a troy ounce. One avoirdupois ounce is equal to 28.349523125 grams.

One tonne = 1000 kilograms = 32,150.746 troy ounces.

One kilogram = 1000 grams = 32.15074656 troy ounces.

One tael = 50 grams. (the official rate of taels in mainland China since the country went metric. In Taiwan and Hong Kong today a tael is equivalent to 37.429g

Gold Bar Prices

Gold bar prices depend of course on the gold price at any given time. As the value of gold increases so the value of the gold bar increases. The premium, how much you pay over spot gold is made up of, the manufacturing costs, the gold bar dealers costs and profit. You also have to take into consideration the shipping and insurance costs. Their may, in some countries or US states, be a tax to take into account also.

You should buy the highest gold bar weight you can afford as you will pay less premium per ounce or kilo that way. As the gold bar price goes up, the premium per ounce decreases also. However, you may want to buy smaller one ounce gold bars if you think you may need to sell some of your gold bars from time to time to cover unexpected expenses. Often the premium for ounce gold bars is not that much higher than for the larger gold bars.

Unless you absolutely have to, I recommend you do not sell gold bars for national fiat currency as the value of fiat currency (paper money) is deteriorating rapidly and, although you might get more fiat currency than you paid for your gold, its value will dwindle from the moment you get it.

Why Buy Gold Bars

Gold bars are a safe haven for asset protection as well as a good future investment. Basically the value of gold does not change with regard to the goods and services you can get with its value. And ounce of gold still purchases the same value of goods and services as it did many years ago. But the amount of fiat currency which the gold value is assessed by does change and, as the economy goes through recessions and inflation, the apparency is that gold is worth more when actually it is the currency which is worth less.

A good reason to buy gold bars and not sell them.

But if you do have to sell some gold, bars are good as they are accepted anywhere in the world.

Where to Buy Gold Bars

You can buy gold bars from gold dealers, mints, foundries even, as well as from private individuals, auctions and the like.

The same basic principles for buying gold apply regardless of whether you buy gold bars in New York, Washington or anywhere on the planet.

Here are some basic principles you can use to ensure you get the best deal and the best gold for your buck.

1. Buy the biggest gold bar or bars you can afford. The bigger the bar the smaller the premium you will pay per ounce. This will reduce the gold bar price per ounce.

2. Pick established or accredited gold dealers and mints.

3. If you are going to take delivery, ensure you understand the cost of shipping and, importantly, insurance. Check with the gold bar dealer to find out the shipping costs and ensure that they provide insurance (which you will be expected to pay) this should be figured in the gold bar price.

4. Do due diligence on the gold bar dealer or person or company you are buying gold from. Who are they? Are they easily contacted? Are they accredited? Do you know friends or associates that have dealt with them before?

5. Lastly it is prudent to have a good understanding of gold and gold bars. How they are produced and in what form. The weights, fineness and all other aspects of gold bars. How much premium will you pay?

Taking some time to understand your gold bar investment will pay off in that you can ensure you get as much gold for you money as possible and that you do not pay a heavy gold bar price while doing it!

[verygoodgirl]

nice thing is it wont rust

so why not bury it in the ground?

[heykki]

You are better off investing in Chinese Yuan to be honest.

[p_brownstone]

Go to Yaowarrat, Chinatown, many Gold Shops there but the most popular and trusted is Hua Seng Heng - they have at least 5 Shops there (there is also a branch in Seacon Square). Thais much prefer to buy and sell Gold from this Company and you will get a slightly better price when you want to re-sell.

Gold is sold by Baht weight and in Bars from Baht 1 up to at least Baht 50 (that is the largest I have bought personally but there may be larger ones available.)

Patrick

[NADTATIDA1]

The gold bar price of course changes daily with the price of gold. Large gold bars are a useful safe haven for storing assets for the long term in economic uncertainty, while the smaller gold bars can be easily bought, stored, transported and sold for the short term.

Types of Gold Bars

There are basically two types of gold bars. Cast and minted.

Cast gold bars are produced by pouring molten gold into molds. These are usually called ingots. They are rough and the markings, such as the foundry or manufacturing mark, gold purity and registration number are pressed into the gold. Although gold is quite dense it is nevertheless quite soft and easy to manage.

Cast gold bars are manufactured by around twenty-seven accredited manufacturers around the world. They produce small cast bars in many gold bar weights including in kilos, grammes (usually 500g or less) and in twenty ounces or less sizes. The smallest cast gold bar known weighs 10 grams and is made in Brazil. More popular cast gold bars are manufactured in Brazil, Europe and Japan, The ounce bars are made in Australia, Europe, UK and the USA.

Minted bars are manufactured from gold that has already been poured into a mound and then drawn out into strips. The gold bullion bars are then stamped out to the required sizes and shapes and the markings, in this case, are applied during the minting process.

Gold coins are produced in the same way incidentally, although more care is applied during the stamping process to produce the finer finish of the coins.

There are four accredited manufacturers of the standard minted bars. These are:

Argor-Heraeus. A subsidiary of Union Bank of Switzerland

Metalor. A subsidiary of Swiss Bank Corporation

Valcambi. A subsidiary of Credit Suisse

Pamp SA

They produce around 35 percent of the worlds minted gold bars. The bank subsidiaries also issue their bars with the bank brand name so are easily recognisable.

Gold Bar Purities

All gold bars have a purity expressed in units per 100, 1000 or 10000. There is a universal trend now for bars to be 99.99%, however, there is still some variation in some countries. For example:

Dubai - 99.9%

Iran - 99.5%

Hong Kong - 99%

Thailand - 96.5%

A new product, called ChipGold, has also entered the market. This is a relatively new form of gold bar, consisting of a small ingot of one to twenty grams presented in a sealed and certified package, about the size of a credit card. Chip Gold is designed to be used as a liquid investment in gold and can be easily stored and transported. The typical weights available include, one through to twenty grams with a purity of .9999 fine gold.

The granddaddy of all gold bars is the larger 400 oz (12.5 kg) 'London Good Delivery' bars. These are held by central banks and used by banks, governments and large institutions to store value and to transfer value between banks, They almost always have a purity of 99.5 percent.

Gold Bar Weights

All gold bars are denominated in different units of weight to accommodate the various cultural preferences of different geographical regions:

Grammes. International

Ounces. Mostly English-speaking countries: USA, UK and Australia

Tolas. Mainly India, Pakistan, Middle East, Singapore

Taels. In the main, Chinese-speaking countries: Hong Kong, Taiwan, China

Bahts. Thailand

Chi. Vietnam

Dons. Korea

One troy ounce is equal to 31.1034768 grams. So if gold was 900 dollars an ounce then one gram would be worth about 28.935673 dollars.

Gold is measured in troy ounces as distinct to the more common avoirdupois ounce which is used for food and slightly lighter than a troy ounce. One avoirdupois ounce is equal to 28.349523125 grams.

One tonne = 1000 kilograms = 32,150.746 troy ounces.

One kilogram = 1000 grams = 32.15074656 troy ounces.

One tael = 50 grams. (the official rate of taels in mainland China since the country went metric. In Taiwan and Hong Kong today a tael is equivalent to 37.429g

Gold Bar Prices

Gold bar prices depend of course on the gold price at any given time. As the value of gold increases so the value of the gold bar increases. The premium, how much you pay over spot gold is made up of, the manufacturing costs, the gold bar dealers costs and profit. You also have to take into consideration the shipping and insurance costs. Their may, in some countries or US states, be a tax to take into account also.

You should buy the highest gold bar weight you can afford as you will pay less premium per ounce or kilo that way. As the gold bar price goes up, the premium per ounce decreases also. However, you may want to buy smaller one ounce gold bars if you think you may need to sell some of your gold bars from time to time to cover unexpected expenses. Often the premium for ounce gold bars is not that much higher than for the larger gold bars.

Unless you absolutely have to, I recommend you do not sell gold bars for national fiat currency as the value of fiat currency (paper money) is deteriorating rapidly and, although you might get more fiat currency than you paid for your gold, its value will dwindle from the moment you get it.

Why Buy Gold Bars

Gold bars are a safe haven for asset protection as well as a good future investment. Basically the value of gold does not change with regard to the goods and services you can get with its value. And ounce of gold still purchases the same value of goods and services as it did many years ago. But the amount of fiat currency which the gold value is assessed by does change and, as the economy goes through recessions and inflation, the apparency is that gold is worth more when actually it is the currency which is worth less.

A good reason to buy gold bars and not sell them.

But if you do have to sell some gold, bars are good as they are accepted anywhere in the world.

Where to Buy Gold Bars

You can buy gold bars from gold dealers, mints, foundries even, as well as from private individuals, auctions and the like.

The same basic principles for buying gold apply regardless of whether you buy gold bars in New York, Washington or anywhere on the planet.

Here are some basic principles you can use to ensure you get the best deal and the best gold for your buck.

1. Buy the biggest gold bar or bars you can afford. The bigger the bar the smaller the premium you will pay per ounce. This will reduce the gold bar price per ounce.

2. Pick established or accredited gold dealers and mints.

3. If you are going to take delivery, ensure you understand the cost of shipping and, importantly, insurance. Check with the gold bar dealer to find out the shipping costs and ensure that they provide insurance (which you will be expected to pay) this should be figured in the gold bar price.

4. Do due diligence on the gold bar dealer or person or company you are buying gold from. Who are they? Are they easily contacted? Are they accredited? Do you know friends or associates that have dealt with them before?

5. Lastly it is prudent to have a good understanding of gold and gold bars. How they are produced and in what form. The weights, fineness and all other aspects of gold bars. How much premium will you pay?

Taking some time to understand your gold bar investment will pay off in that you can ensure you get as much gold for you money as possible and that you do not pay a heavy gold bar price while doing it!

Good informative post patong.

[a2396]

Give it to your GF or wife. They will see it is taken good care of.

[Tagaa]

Crossbones,

Patong cut & pasted in a nice article about gold in general, however, he neglected to address your questions about buying gold in Thailand.

Every town has gold shops & almost all of them belong to the Gold Traders Association. Go to thaigold.info to access their web page. On it you will see the current Association price in the upper left corner (it changes throughout the day based on the NY Spot price). You will see 2 prices. The "BUY" price is what they will pay for your gold if you want to sell. The "SELL" price is what you will have to pay if you wish to buy. DO NOT TRUST THE POSTED PRICE on the wall or a white board of a gold shop, unless they have a PC at the counter that can verify the current price. There is a gold shop in a Tesco I frequent & their posted price is almost always 200 Bt higher than the association price, PLUS they add commission on top of that. Reputable gold shops will show you the posted price on the web page if you ask & they may actually have a monitor on the counter so you can see for yourself.

ALL SHOPS will charge a premium above the price as their commission to complete the transaction. Some shops will sell it for as little as 60 Bt per Baht weight, some as high as 500. Usually it's 80 to 100 Bt. One time I had a fat shirtless man tell me his commission was 2000 Bt per Baht weight. I said thank you & walked out.

SHOP AROUND before you buy & see what shop charges the smallest commission. Also note that not all shops carry bars. You will have to ask at each shop. In locales like BKK & Pattaya, they may all carry bars, but in the smaller towns, most do not.

For investment/safe haven purchases buy bars (pekang). They come in 1, 2, 5 10, 20 & 50 Baht weights. Most shops that have bars will have 5 & 10 Baht bars in stock. I even saw a 1 Kilo bar of 99.9% in a shop in Issan one time. Stay away from jewelry as they add production charges based on the workmanship involved. In Thailand the normal purity is 96.5. You can find 99.9 in some shops, but most will not have it.

All shops have a gram scale. Make sure to zero the scale before you weigh the bar, for your own piece of mind. I prefer a shop that has a scale that goes to 2 decimal points, not one. One Baht weight of 96.5 weighs 15.244 grams

Again, if the shop will not show you the Association price on their PC, run, don't walk.

For more information than you'll ever want to know about Thai gold, go to goldbarsworldwide dot com/PDF/NB_1_barsfromthailand dot pdf

As far as places to store your gold, safe deposit boxes in banks are the usual choice, but I don't trust banks. Put your thinking cap on & you will come up with something. The main thing to remember is don't tell ANYONE you have it or are thinking about buying gold (especially the wife) and don't divulge to ANYONE where it is stored/hidden. If you want the wife to have it in the event of your untimely demise, tell a friend that lives outside the country where it is, with instructions to tell the wife ONLY AFTER they burn your remains.

Edited March 9, 2010 by Tagaa

[Naam]

As far as places to store your gold, safe deposit boxes in banks are the usual choice, but I don't trust banks. Put your thinking cap on & you will come up with something. The main thing to remember is don't tell ANYONE you have it or are thinking about buying gold (especially the wife) and don't divulge to ANYONE where it is stored/hidden. If you want the wife to have it in the event of your untimely demise, tell a friend that lives outside the country where it is, with instructions to tell the wife ONLY AFTER they burn your remains.

makes me wonder what kind of wife you have

[CrossBones]

So OK..

I appreciate your help with all this... but actually i dont have a wife. So what are the dangers of storing gold in a bank safety deposit box? To collect the gold i need my passport or ID plus the key for my box, is that right?

Why is a bank vault a problem for storing gold? I want to store around 100 baht of gold only.

Thanks

[billythefish]

So OK..

I appreciate your help with all this... but actually i dont have a wife. So what are the dangers of storing gold in a bank safety deposit box? To collect the gold i need my passport or ID plus the key for my box, is that right?

Why is a bank vault a problem for storing gold? I want to store around 100 baht of gold only.

Thanks

If I was buying gold in Thailand as an Asset, the last thing I would do would be to put it in a Thai Bank...you think if there was a run on the bank you would get it back???? What on earth is the point of buying gold only to deposit it in a BANK? The UK Banks have a limit of liability, something like 30 or 50K (The law has changed recently) I would suspect if the bank went tits up..Northern Rock RBOS, LLOYDS, then if you dropped off a million in gold, you may only get 30-50 K back....not sure on that but I would err on the side of caution.

The whole point of buying gold is that it is a fluid form of CASH, in timws of hardship...or uncertainty...putting it in the bank is like putting it in a lions cage at the zoo when the shit hits the fan...you will never see it again.

Better off buy a safe and bury it!!

They could even do what the USA did back in the 30's, require everyone to hand in there gold...mandatatory, and given less than market value!

If you have gold...hide it, it doesn't need to be in a bank...banks are for worthless pieces of paper called "currencies" that everyone traded their gold for in the first place.

You sound like a smart bloke, buying 100 baht in gold, you can always leave it with me for safe keeping...I'll even write you a receipt..."I Promise To Pay The Bearer........"

Edited March 9, 2010 by billythefish

[CrossBones]

So OK..

I appreciate your help with all this... but actually i dont have a wife. So what are the dangers of storing gold in a bank safety deposit box? To collect the gold i need my passport or ID plus the key for my box, is that right?

Why is a bank vault a problem for storing gold? I want to store around 100 baht of gold only.

Thanks

If I was buying gold in Thailand as an Asset, the last thing I would do would be to put it in a Thai Bank...you think if there was a run on the bank you would get it back???? What on earth is the point of buying gold only to deposit it in a BANK? The UK Banks have a limit of liability, something like 30 or 50K (The law has changed recently) I would suspect if the bank went tits up..Northern Rock RBOS, LLOYDS, then if you dropped off a million in gold, you may only get 30-50 K back....not sure on that but I would err on the side of caution.

The whole point of buying gold is that it is a fluid form of CASH, in timws of hardship...or uncertainty...putting it in the bank is like putting it in a lions cage at the zoo when the shit hits the fan...you will never see it again.

Better off buy a safe and bury it!!

They could even do what the USA did back in the 30's, require everyone to hand in there gold...mandatatory, and given less than market value!

If you have gold...hide it, it doesn't need to be in a bank...banks are for worthless pieces of paper called "currencies" that everyone traded their gold for in the first place.

You sound like a smart bloke, buying 100 baht in gold, you can always leave it with me for safe keeping...I'll even write you a receipt..."I Promise To Pay The Bearer........"

No not really... the point of buying gold is for LONG term investment. It is not a liquid asset. If you want liquid assets the stocks and shares and cash. Gold is not a liquid asset, little more liquid than a house but basically people buy gold as a long term investment. There is a good argument to have at least 10% of your net worth in gold. At the moment, I would say a lot more than that... gold is due another rally soon.. china is going to buy a lot of gold soon. There is still a lot of fear over hyperinflation. If there is another crash which many insiders are talking about, and the mass media is not talking about, then an investment in gold could be very kind to you indeed.

[billythefish]

So OK..

I appreciate your help with all this... but actually i dont have a wife. So what are the dangers of storing gold in a bank safety deposit box? To collect the gold i need my passport or ID plus the key for my box, is that right?

Why is a bank vault a problem for storing gold? I want to store around 100 baht of gold only.

Thanks

If I was buying gold in Thailand as an Asset, the last thing I would do would be to put it in a Thai Bank...you think if there was a run on the bank you would get it back???? What on earth is the point of buying gold only to deposit it in a BANK? The UK Banks have a limit of liability, something like 30 or 50K (The law has changed recently) I would suspect if the bank went tits up..Northern Rock RBOS, LLOYDS, then if you dropped off a million in gold, you may only get 30-50 K back....not sure on that but I would err on the side of caution.

The whole point of buying gold is that it is a fluid form of CASH, in timws of hardship...or uncertainty...putting it in the bank is like putting it in a lions cage at the zoo when the shit hits the fan...you will never see it again.

Better off buy a safe and bury it!!

They could even do what the USA did back in the 30's, require everyone to hand in there gold...mandatatory, and given less than market value!

If you have gold...hide it, it doesn't need to be in a bank...banks are for worthless pieces of paper called "currencies" that everyone traded their gold for in the first place.

You sound like a smart bloke, buying 100 baht in gold, you can always leave it with me for safe keeping...I'll even write you a receipt..."I Promise To Pay The Bearer........"

No not really... the point of buying gold is for LONG term investment. It is not a liquid asset. If you want liquid assets the stocks and shares and cash. Gold is not a liquid asset, little more liquid than a house but basically people buy gold as a long term investment. There is a good argument to have at least 10% of your net worth in gold. At the moment, I would say a lot more than that... gold is due another rally soon.. china is going to buy a lot of gold soon. There is still a lot of fear over hyperinflation. If there is another crash which many insiders are talking about, and the mass media is not talking about, then an investment in gold could be very kind to you indeed.

I think you need to have a bit of a rethink mate! WHY DO PEOPLE BUY GOLD!!!! Because it is a liquid asset..anytime!

Gold is one of THE MOST LIQUID ASSETS ON EARTH, hence it's popularity as a hedge against inflation! It is tradeable virtually in every country on earth, it's value is recognized worldwide...how much more liquid do you want? Why not buy a pig? (or if you want real liquidity - a bottle of water) surely you can take that anywhere in the world and get the same price???

Edited March 9, 2010 by billythefish

[Montego]

Hi there

Be aware of tungsten gold coated bars which exist, recently 500 gramm bars appeared also in Europe.

Even central banks may have 12 kg tungsten bars in the faults.

50 times as much as actually exists of Gold is being sold forward in the paper gold market.

Good question, leave it in a safe at the bank or hide it at home.

If the bank is closed for days which can happen there is no access.

I personally do not trust any of those banksters anymore, the financial and economical collapse will come soon for many countries.

Fiat money, created out of thin air will turn into inflation eventually, 2011 it may start after the short deflation this year.

The entire paper market is a Madoff Ponzi Game only few currencies will survive.

A gold coin its not so easy to fake, the dimensions and weight is unique.

My question is can somebody trade, sell or buy his gold coins, like Kruger Rands etc easy in Thailand.

Does any banks or gold shops except gold coins for cash ?

I am aware that the price is quoted in Baht which is about half an once of gold.

They may melt the coin or leave it for further trading.

Does anybody know if coins are excepted in Phuket.

Thanks for your answers and my best regards to you all.

XGX

[CrossBones]

So OK..

I appreciate your help with all this... but actually i dont have a wife. So what are the dangers of storing gold in a bank safety deposit box? To collect the gold i need my passport or ID plus the key for my box, is that right?

Why is a bank vault a problem for storing gold? I want to store around 100 baht of gold only.

Thanks

If I was buying gold in Thailand as an Asset, the last thing I would do would be to put it in a Thai Bank...you think if there was a run on the bank you would get it back???? What on earth is the point of buying gold only to deposit it in a BANK? The UK Banks have a limit of liability, something like 30 or 50K (The law has changed recently) I would suspect if the bank went tits up..Northern Rock RBOS, LLOYDS, then if you dropped off a million in gold, you may only get 30-50 K back....not sure on that but I would err on the side of caution.

The whole point of buying gold is that it is a fluid form of CASH, in timws of hardship...or uncertainty...putting it in the bank is like putting it in a lions cage at the zoo when the shit hits the fan...you will never see it again.

Better off buy a safe and bury it!!

They could even do what the USA did back in the 30's, require everyone to hand in there gold...mandatatory, and given less than market value!

If you have gold...hide it, it doesn't need to be in a bank...banks are for worthless pieces of paper called "currencies" that everyone traded their gold for in the first place.

You sound like a smart bloke, buying 100 baht in gold, you can always leave it with me for safe keeping...I'll even write you a receipt..."I Promise To Pay The Bearer........"

No not really... the point of buying gold is for LONG term investment. It is not a liquid asset. If you want liquid assets the stocks and shares and cash. Gold is not a liquid asset, little more liquid than a house but basically people buy gold as a long term investment. There is a good argument to have at least 10% of your net worth in gold. At the moment, I would say a lot more than that... gold is due another rally soon.. china is going to buy a lot of gold soon. There is still a lot of fear over hyperinflation. If there is another crash which many insiders are talking about, and the mass media is not talking about, then an investment in gold could be very kind to you indeed.

I think you need to have a bit of a rethink mate! WHY DO PEOPLE BUY GOLD!!!! Because it is a liquid asset..anytime!

Gold is one of THE MOST LIQUID ASSETS ON EARTH, hence it's popularity as a hedge against inflation! It is tradeable virtually in every country on earth, it's value is recognized worldwide...how much more liquid do you want? Why not buy a pig? (or if you want real liquidity - a bottle of water) surely you can take that anywhere in the world and get the same price???

I think you are taking what i am saying a little too literally.

If you buy a 10kg gold bar for $350,000... you cant take that to the shop to buy a loaf of bread. And you cant sell half of it, or even 10% of it. You have to sell the whole lot. You cant move it from vault to vault because it incurs a tax.

Silver coins are a liquid asset, in the great depression you could buy a farm for a handul of silver coins.

[CrossBones]

Now now boys...

I was just asking for a few pointers in the right direction for secure gold storage in Thailand.

Keep it at home... someone suggested my wife might take it, i dont have a wife so but anyway thats not a great idea

Keep at a bank... the bank could go bust..

Keep at a private vault... dont know much about this. Could use bullionvault.com

Maybe ill wear it around my neck and employ bodguards.

One thing i will say is when MONEYAGEDDON does finally come, and it will, Thailand will be the a rich country in the world since everyone has gold!! And all the Thais will sit around laughing at us come to the US and poke our women and tell us how stupid we are for wasting all our money on bits of "paper"

[OZEMADE]

I purchased gold through a gold broker overseas in Australia, I bought it for $900 an ounce and sold it not long ago for $1200 an ounce. You store nothing but the Certificate of which you have a copy, your bank has a copy and the Gold broker has a copy.

Safer than storing it and transporting it yourself.

[lopburi3]

A number of flame/troll posts have been removed.

[Tanaka]

I purchased gold through a gold broker overseas in Australia, I bought it for $900 an ounce and sold it not long ago for $1200 an ounce. You store nothing but the Certificate of which you have a copy, your bank has a copy and the Gold broker has a copy.

Safer than storing it and transporting it yourself.

Safer, yes. But during the 2008 crash, there was a 6 month wait to take physical delivery of bullion from one of the famous mints in Perth. They issued the certs, yet could not provide the physical when the people wanted it.

There is another side of the private vaults. They claim that they put more goldbars into their vault when you have purchased yours and take out if you sell. Put from where? There is one claiming to have vaults in Jersey and in London. What they do not tell you is that they do not keep the gold, not all of it, in the vaults. If there are any vaults, you are noit allowed to see them. They use your gold for speculation. And if/when the crash comes and you present your piece of paper claiming your gold, sorry sir, we are unable to accomodate your request at the moment.

[OZEMADE]

I purchased gold through a gold broker overseas in Australia, I bought it for $900 an ounce and sold it not long ago for $1200 an ounce. You store nothing but the Certificate of which you have a copy, your bank has a copy and the Gold broker has a copy.

Safer than storing it and transporting it yourself.

Safer, yes. But during the 2008 crash, there was a 6 month wait to take physical delivery of bullion from one of the famous mints in Perth. They issued the certs, yet could not provide the physical when the people wanted it.

I don't understand your answer as they don't have to produce the gold physically, if you wish to cash it in they give you the cash, they are a Gold Broker House, not a Gold storage house.

[123ace]

As far as places to store your gold, safe deposit boxes in banks are the usual choice, but I don't trust banks. Put your thinking cap on & you will come up with something. The main thing to remember is don't tell ANYONE you have it or are thinking about buying gold (especially the wife) and don't divulge to ANYONE where it is stored/hidden. If you want the wife to have it in the event of your untimely demise, tell a friend that lives outside the country where it is, with instructions to tell the wife ONLY AFTER they burn your remains.

makes me wonder what kind of wife you have

This is sound advice - If in doubt or blindly in love and with no doubt - heed this advice anyway!

[chantorn]

What is the color of gold in Thailand. YELLOW or RED?

[saintofsilence]

I used bullion vault online before i had no problems they store it for you .

[Tanaka]

I used bullion vault online before i had no problems they store it for you .

You are told that. There is no way you can control it.

[Montego]

Del

Edited March 9, 2010 by Montego

[Montego]

Interesting opinions here, yes Gold is money, honest money.

Even the pirates were not 100% sure where to hide it.

Can't understand why they accept only Marple Leaf in Thailand.

I am in the gold and silver market since 1995 and ride the PM bull since.

I stay away from ETF's and so called trusts, only a few have the gold they state, some lend it to the enemy of gold and they sell it forward.

Besides have been a top poster in a large forum for gold and silver bugs in Europe and now running my own with all the rebels and cracks from public forums I know a bit about the gold and silver story already.

IMO silver will most likely outperform gold and my prediction is 21 USD POS and 1400 USD POG by the end of the year.

I even go as far to say as Jim Sinclair in 2011 at 1685 USD per once, depending on inflation up to 5000 USD in 2012 ??

The plunge protection team is fighting a lost battle in the long run and gold and silver can not further being manipulated and controlled by the gold cartel.

Prepare for the worst and hope for the best... Got Gold ?? The second financial tsunami is on its way, some say from August and heavy smoke in November 2010.

I hope I can live in Thailand from 2011 and rather take cover behind gold than paper money which burns quickly when the shit hits the fan.

It keeps at least its buying power and outperforms any interest rates in the world.

What more do you want ?

Here some good websites for gold and silver bugs.

http://news.goldseek.com/GoldSeek/1268168890.php

http://www.321gold.com/

http://www.kitco.com/

http://www.kitco.com/ind/GoldReport/mar092010.html

http://www.gold-eagle.com/editorials.htmlCheers

XGX

Edited March 9, 2010 by Montego

[Montego]

Transcript: Nine Shocking New Predictions for 2010-2012

by Martin D. Weiss, Ph.D. 03-01-10

Prediction #1

Starting this year, most U.S. stocks are

likely to fall in a zigzag pattern for

nearly three long years!

Prediction #2

Gold will skyrocket far higher than

$2,000 per ounce by the end of 2011.

Prediction #3

The U.S. Dollar Index will begin to sink in 2010

and will not hit bottom until early 2012.

Prediction #4

Most commodities will not

make new, all-time highs!

Prediction #5

The U.S. economy will suffer a severe

double-dip recession in 2011!

Prediction #6

The U.S. budget deficit will

surpass $2 trillion in 2012!

Prediction #7

Bond prices will plunge because of

out-of-control deficits and a sinking dollar!

Prediction #8

2012 will be the year of maximum

turmoil in markets and

peak tension in society!

Prediction #9

2012 will bring a massive wealth shift

from old fortunes that are destroyed

to new ones that are created ! :-)

Edited March 9, 2010 by Montego

[flying]

So OK..

I appreciate your help with all this... but actually i dont have a wife. So what are the dangers of storing gold in a bank safety deposit box? To collect the gold i need my passport or ID plus the key for my box, is that right?

Why is a bank vault a problem for storing gold? I want to store around 100 baht of gold only.

Thanks

Congrats on going for the gold

100 baht/50 oz is not too much too deal with. I suggest you just get creative & keep it close at hand.

You can easily find a spot to stash it. Just get creative.

Remember when dealing with gold/silver etc you dont own it if you dont hold it.

You say you have no wife so I assume you live alone.

If so you will want to make a note or let a family member ( back home?)

know or have a way to know should something happen to you. Just as insurance

of course it is your choice......

Lastly I stick with coins ( Maples, Eagles,Krugerrands, Phils )...yes many will say the premiums are a waste but

in the long run you will have something which is accepted world wide.

Edited March 9, 2010 by flying

[simcity]

I purchased gold through a gold broker overseas in Australia, I bought it for $900 an ounce and sold it not long ago for $1200 an ounce. You store nothing but the Certificate of which you have a copy, your bank has a copy and the Gold broker has a copy.

Safer than storing it and transporting it yourself.

perhaps was Jaggards, was it perth mint certificats ? what was the commission buying and selling ?

Jaggards use to charge 2% buying and 1 % selling

if you want to buy gold, one way to do it is from the stocks market / GOLD

[flying]

if you want to buy gold, one way to do it is from the stocks market / GOLD

Actually that is buying a piece of paper based on the price of gold.

ticker symbol GOLD on the stock market is...........( there are others too like GLD , IAG etc. )

Randgold Resources Ltd. is engaged in gold mining, exploration and related activities. Its activities are focused on West and East Africa. In Mali, it has an 80% controlling interest in the Loulo mine through Societe des Mines de Loulo S.A. The Loulo mine is mining from two open pits and one underground mine, and is developing a further underground mine. The Company also owns 50% of Morila Limited, which in turn owns 80% of Morila SA, the owner of the Morila mine in Mali. In addition, it owns an effective 84% controlling interest in the development-stage Tongon project located in Cote d’Ivoire. It owns an effective 83% controlling interest in the Massawa project in Senegal. It also has exploration permits and licenses covering substantial areas in Mali, Cote d’Ivoire, Burkina Faso, Ghana, Senegal and Tanzania. In October 2009, Randgold Resources Limited and AngloGold Ashanti Limited, through their indirect jointly owned subsidiary, 0858065 BC Ltd., acquired Moto Goldmines Limited.

These papers ( shares in miners etc. ) should not be considered the same as holding physical metals....You are not given the option of taking physical delivery like on the COMEX contracts.

As all you did in reality is swap one type of paper for another.

Paper gold is good for traders who like to go in & our on a regular basis

Edited March 10, 2010 by flying