99.99% Gold In Thailand

[edgarfriendly]

later in the month, when ur in BKK, take urself to chinatown, as i stated.

then come n comment, child.

Advice from anyone else?

ef

[Naam]

I have purchased 5 Tael Hong Kong good delivery bars in Chiang Mai. These are about 6 troy oz. of 99.9 %. Paid the spot price.

So no taxes, no premium and no commissions ?

I will believe it when I see it. Take a pic of your receipt and post it, I am going to post mine later. My cam battery is dead.

Yeah sure there was a small commission. No tax or receipt though -

say Sokal have you ever actually been to LOS?

I don't even recall paying any tax on a hundred eagles I bought back in the States although that was 15 years ago.

he has been. stashing his gold bars here:

http://www.thaivisa.com/forum/Worst-Room-S...89#entry3200789

[edgarfriendly]

and now hes commenting on nigerian heroin dealers on soi 3 and up....

from where exactly??

Naam..? peak n trough advice?

ef

[Naam]

and now hes commenting on nigerian heroin dealers on soi 3 and up....

from where exactly??

Naam..? peak n trough advice?

ef

what advice are you seeking Edgar? i am not qualified to give any advice on gold. your questions should be directed at the resident gold experts who know each and everything especially the daily prayer "LORD... please let gold rise infinitely in price that this prick Naam keeps his mouth finally shut!"

[JaoPaw]

Ugh, more meaningless dribble from you, is there no end to it?

and now hes commenting on nigerian heroin dealers on soi 3 and up....

from where exactly??

Naam..? peak n trough advice?

ef

what advice are you seeking Edgar? i am not qualified to give any advice on gold. your questions should be directed at the resident gold experts who know each and everything especially the daily prayer "LORD... please let gold rise infinitely in price that this prick Naam keeps his mouth finally shut!"

[sokal]

later in the month, when ur in BKK, take urself to chinatown, as i stated.

then come n comment, child.

Advice from anyone else?

ef

That is exactly what I am going to do and if I pay a penny over spot you are going to hear about it.

[sokal]

I have purchased 5 Tael Hong Kong good delivery bars in Chiang Mai. These are about 6 troy oz. of 99.9 %. Paid the spot price.

So no taxes, no premium and no commissions ?

I will believe it when I see it. Take a pic of your receipt and post it, I am going to post mine later. My cam battery is dead.

Yeah sure there was a small commission. No tax or receipt though -

say Sokal have you ever actually been to LOS?

I don't even recall paying any tax on a hundred eagles I bought back in the States although that was 15 years ago.

he has been. stashing his gold bars here:

http://www.thaivisa.com/forum/Worst-Room-S...89#entry3200789

No actually, I store it in my garage.

[manarak]

I thought the purer the golds the softer it is, So in theory it would rub away over time if handled a lot.

precious metal investors keep their gold in a safe place without a lot of rubbing or handling.

Some precious things deserve rubbing and handling!

[Naam]

I thought the purer the golds the softer it is, So in theory it would rub away over time if handled a lot.

precious metal investors keep their gold in a safe place without a lot of rubbing or handling.

Some precious things deserve rubbing and handling!

[flying]

That is exactly what I am going to do and if I pay a penny over spot you are going to hear about it.

I think your confusion stems from sales being in Baht instead of ounces.

Also for the most part high premiums are usually attached to coins not bullion.

Even in the US you can buy gold bars much closer to spot .... $20 over spot

Compare that to $80 for a Buffalo & they were $150 over as crazy as that is...

Even a Eagle is $60 over & none of these prices I give are MC69 or MC70 type coins just standard coins.

As for no receipt or taxes....Same in the US. If you request a receipt in the US of course they will oblige you.Tax you would never pay & I have never paid any tax on buying coins I have bought...

Of course if you sell it your suppose to give the tax man his cut of any profits......

Sadly I lost all my metals in a boating accident

Here is a Thai site so as you can see prices for 99.9%....

Now if & when you sell it.. you sell it in Canada? or USA? perhaps you will get a little more but I think the fear of the products origins/stamps may hinder you..... I dont know. Just my thoughts....

Of course you can sell it anytime you like back to these folks & again you can see the prices n the site.

http://www.ausiris.co.th/en/index.php

[sokal]

That is exactly what I am going to do and if I pay a penny over spot you are going to hear about it.

I think your confusion stems from sales being in Baht instead of ounces.

Also for the most part high premiums are usually attached to coins not bullion.

Even in the US you can buy gold bars much closer to spot .... $20 over spot

Compare that to $80 for a Buffalo & they were $150 over as crazy as that is...

Even a Eagle is $60 over & none of these prices I give are MC69 or MC70 type coins just standard coins.

As for no receipt or taxes....Same in the US. If you request a receipt in the US of course they will oblige you.Tax you would never pay & I have never paid any tax on buying coins I have bought...

Of course if you sell it your suppose to give the tax man his cut of any profits......

Sadly I lost all my metals in a boating accident

Here is a Thai site so as you can see prices for 99.9%....

Now if & when you sell it.. you sell it in Canada? or USA? perhaps you will get a little more but I think the fear of the products origins/stamps may hinder you..... I dont know. Just my thoughts....

Of course you can sell it anytime you like back to these folks & again you can see the prices n the site.

http://www.ausiris.co.th/en/index.php

$20 over spot on every ounce you buy still adds up especially when other people on this thread are claiming they pay nothing over spot.

[flying]

$20 over spot on every ounce you buy still adds up especially when other people on this thread are claiming they pay nothing over spot.

I think you have that wrong....They have said they pay a commission. same/same

Also the $20 I mentioned was in the USA

If you look at the site I gave you will see it is less in LOS

But again for *their* bars

Edited April 7, 2010 by flying

[Naam]

$20 over spot on every ounce you buy still adds up especially when other people on this thread are claiming they pay nothing over spot.

maths or simple arithmetic is not your strong side. 100 Baht on a one Baht weight presently works out to a difference ~$12.50 per ounce between bid and ask, id est bid as well as ask differ $6.25 from the academic spot price (NOT $20!). besides, nowhere in the world can anybody buy any asset at published spot price. bid and ask prices always exist. besides, those who claim that they bought at spot price are quite correct because it is normal to refer to an ask price as spot price if you are a buyer. the same applies to the bid price if you are a seller.

note to myself: again you wasted time to explain that "two plus two equals four"

[sokal]

$20 over spot on every ounce you buy still adds up especially when other people on this thread are claiming they pay nothing over spot.

maths or simple arithmetic is not your strong side. 100 Baht on a one Baht weight presently works out to a difference ~$12.50 per ounce between bid and ask, id est bid as well as ask differ $6.25 from the academic spot price (NOT $20!). besides, nowhere in the world can anybody buy any asset at published spot price. bid and ask prices always exist. besides, those who claim that they bought at spot price are quite correct because it is normal to refer to an ask price as spot price if you are a buyer. the same applies to the bid price if you are a seller.

note to myself: again you wasted time to explain that "two plus two equals four"

This is a receipt from one of the 5 LBMA bullion dealer banks. Notice the commission ? Its $25 per oz, not $50, it only says 50 because 2 oz where purchased.

Edited April 7, 2010 by sokal

[manarak]

$20 over spot on every ounce you buy still adds up especially when other people on this thread are claiming they pay nothing over spot.

maths or simple arithmetic is not your strong side. 100 Baht on a one Baht weight presently works out to a difference ~$12.50 per ounce between bid and ask, id est bid as well as ask differ $6.25 from the academic spot price (NOT $20!). besides, nowhere in the world can anybody buy any asset at published spot price. bid and ask prices always exist. besides, those who claim that they bought at spot price are quite correct because it is normal to refer to an ask price as spot price if you are a buyer. the same applies to the bid price if you are a seller.

note to myself: again you wasted time to explain that "two plus two equals four"

should read: again you wasted my time to explain that "two plus two equals four"

[TheItaliann]

happy to see this thread going strong. hopefully more people will buy gold so we wont have so many "bad luck" stories down the road as the Western currencies become inflated.

Has Thai gold been appreciating at the same rate as 99.99% gold? I am a bit confused why the Thais use 96.5 ?

Edited April 7, 2010 by TheItaliann

[Naam]

1. Has Thai gold been appreciating at the same rate as 99.99% gold?

2. I am a bit confused why the Thais use 96.5 ?

1. yes

2. why shouldn't they use 96.5 for "thai gold"? Americans call 58.5 "gold"

[Naam]

$20 over spot on every ounce you buy still adds up especially when other people on this thread are claiming they pay nothing over spot.

maths or simple arithmetic is not your strong side. 100 Baht on a one Baht weight presently works out to a difference ~$12.50 per ounce between bid and ask, id est bid as well as ask differ $6.25 from the academic spot price (NOT $20!). besides, nowhere in the world can anybody buy any asset at published spot price. bid and ask prices always exist. besides, those who claim that they bought at spot price are quite correct because it is normal to refer to an ask price as spot price if you are a buyer. the same applies to the bid price if you are a seller.

note to myself: again you wasted time to explain that "two plus two equals four"

This is a receipt from one of the 5 LBMA bullion dealer banks. Notice the commission ? Its $25 per oz, not $50, it only says 50 because 2 oz where purchased.

who in his/her right mind buys gold in Canada and pays commission as well as sales tax?

[sokal]

$20 over spot on every ounce you buy still adds up especially when other people on this thread are claiming they pay nothing over spot.

maths or simple arithmetic is not your strong side. 100 Baht on a one Baht weight presently works out to a difference ~$12.50 per ounce between bid and ask, id est bid as well as ask differ $6.25 from the academic spot price (NOT $20!). besides, nowhere in the world can anybody buy any asset at published spot price. bid and ask prices always exist. besides, those who claim that they bought at spot price are quite correct because it is normal to refer to an ask price as spot price if you are a buyer. the same applies to the bid price if you are a seller.

note to myself: again you wasted time to explain that "two plus two equals four"

This is a receipt from one of the 5 LBMA bullion dealer banks. Notice the commission ? Its $25 per oz, not $50, it only says 50 because 2 oz where purchased.

who in his/her right mind buys gold in Canada and pays commission as well as sales tax?

thats why I am so pissed. Flying still says that there is a $20 premium at other places and nobody has shown their receipt apparently because they don't exist which I also find hard to believe. I also had to disclose my social security number at this bank or else they would not sell to me. Funny how you can't buy a bottle of pepsi these days without getting a receipt but these guys are saying they buy gold without one. It would make a good laundering front if you could just anonymously dump cash at these banks, there is a reason why they like to keep record of purchases.

[flying]

thats why I am so pissed. Flying still says that there is a $20 premium at other places and nobody has shown their receipt apparently because they don't exist which I also find hard to believe. I also had to disclose my social security number at this bank or else they would not sell to me. Funny how you can't buy a bottle of pepsi these days without getting a receipt but these guys are saying they buy gold without one. It would make a good laundering front if you could just anonymously dump cash at these banks, there is a reason why they like to keep record of purchases.

Dude I mentioned twice my examples were from the USA

I also mentioned we get no receipts in the USA unless we ask for one & pay no tax on buying metals either.

Why are you having such a hard time with the buy & sell prices in LOS? Buying & selling gold is very very common & in many ways a form of banking/savings in Thailand.

I have even bought a few baht myself for the wife there. It is a very simple & effective system.

As for money laundering there are rules in the USA

You can buy pretty much any amount with check bank wire etc.......but if you buy with cash it can be no more than 10k worth or the sale will be reported.

Edited April 7, 2010 by flying

[makescents]

Do you want to take delivery of it?

If not www.bullionvault.com is pretty good.

[Naam]

Do you want to take delivery of it? If not www.bullionvault.com is pretty good.

will "bullionvault" deliver during a crisis the gold i stored with them to Thailand on my demand because i need it?

[makescents]

Do you want to take delivery of it? If not www.bullionvault.com is pretty good.

will "bullionvault" deliver during a crisis the gold i stored with them to Thailand on my demand because i need it?

Expecting the end of the world soon mate?

[Naam]

Do you want to take delivery of it? If not www.bullionvault.com is pretty good.

will "bullionvault" deliver during a crisis the gold i stored with them to Thailand on my demand because i need it?

Expecting the end of the world soon mate?

i don't expect anything but try to have a rational discussion. instead of facts there are people who add irrelevant bullshit to that discussion.

[sokal]

thats why I am so pissed. Flying still says that there is a $20 premium at other places and nobody has shown their receipt apparently because they don't exist which I also find hard to believe. I also had to disclose my social security number at this bank or else they would not sell to me. Funny how you can't buy a bottle of pepsi these days without getting a receipt but these guys are saying they buy gold without one. It would make a good laundering front if you could just anonymously dump cash at these banks, there is a reason why they like to keep record of purchases.

Dude I mentioned twice my examples were from the USA

I also mentioned we get no receipts in the USA unless we ask for one & pay no tax on buying metals either.

Why are you having such a hard time with the buy & sell prices in LOS? Buying & selling gold is very very common & in many ways a form of banking/savings in Thailand.

I have even bought a few baht myself for the wife there. It is a very simple & effective system.

As for money laundering there are rules in the USA

You can buy pretty much any amount with check bank wire etc.......but if you buy with cash it can be no more than 10k worth or the sale will be reported.

Are you talking about any of the LBMA banks or just private gold shops in the US ? ScotiaMocatta is Canadian but I didn't think their procedures would be much different then JPMorgan considering they are all connected. No different then Royal Bank of Canada being a Federal reserve primary dealer just like Goldman Sachs.

The six LBMA clearing banks are:

Barclays Bank PLC, ScotiaMocatta, Deutsche Bank AG, HSBC Bank, JPMorgan Chase Bank & UBS AG

[sokal]

Looks like its a good thing I took physical from Scotia

<h1 class="title">The Latest Gold Fraud Bombshell: Canada's Only Bullion Bank Gold Vault Is Practically Empty</h1>

Continuing on the trail of exposing what is rapidly becoming one of the largest frauds in commodity markets history is the most recent interview by Eric King with GATA's Adrian Douglas, Harvey Orgen (who recently testified before the CFTC hearing) and his son, Lenny, in which the two discuss their visit to the only bullion bank vault in Canada, that of ScotiaMocatta, located at 40 King Street West in Toronto, and find the vault is practically empty. This is a relevant segue to a class action lawsuit filed against Morgan Stanley, which was settled out of court, in which it was alleged that Morgan Stanley told clients it was selling them precious metals that they would own in full and that the company would store, yet even despite charging storage fees was not in actual possession of the bullion. It appears that this kind of lack of physical holdings by all who claim to have gold in storage, is pervasive as the actual gold globally is held primarily in paper or electronic form. Lenny Organ who was the person to enter the vault of ScotiaMocatta, says "What shocked me was how little gold and silver they actually had." Lenny describes exactly how much (or little as the case may be) silver was available - roughly 60,000 ounces. As for gold - 210 400 oz bars, 4,000 maples, 500 eagles, 10 kilo bars, 10 one kilogram pieces of gold nugget form, which Adrian Douglas calculates as being $100 million worth, which is just one tenth of what the Royal Mint of Canada sold in 2008, or over $1 billion worth of gold. As Orgen concludes: "The game ends when the people who own all these paper obligations say enough and take physical delivery, and that's when the mess will occur."

Also note the interesting detour into what Stephan Spicer of the Central Fund Of Canada, said regarding his friend at a major bank, who wanted access to his 15,000 oz of silver, and had to wait 6-8 weeks for its to be flown in from Hong Kong.

It is funny that central bankers thought they could take the ponzi mentality of infinite dilution of all assets coupled with infinite debt issuance, as they have done to fiat money, and apply it to gold, in essence piling leverage upon leverage. They underestimated gold holders' willingness to be diluted into perpetuity - when the realization that gold owned is just 1% of what is physically deliverable, you will see the biggest bank run in history.

[flying]

Are you talking about any of the LBMA banks or just private gold shops in the US ? ScotiaMocatta is Canadian but I didn't think their procedures would be much different then JPMorgan considering they are all connected. No different then Royal Bank of Canada being a Federal reserve primary dealer just like Goldman Sachs.

The six LBMA clearing banks are:

Barclays Bank PLC, ScotiaMocatta, Deutsche Bank AG, HSBC Bank, JPMorgan Chase Bank & UBS AG

Folks dont buy gold at banks in the US. I have heard it is done in Europe & Canada

Americans use places like these....

http://www.apmex.com/

http://www.tulving.com/

Edited April 8, 2010 by flying