Where To Buy Silver In Chiang Mai?

[LivinLOS]

Just to go back to the 'you must take delivery' / survivalist mindset thats was being discussed.

If you look at Egypt rapidly descending into chaos.. You now have looters, criminals escaping prisons, vigilante groups, etc. Sure you might want some assets in hand for short term transactional needs. But would you be happy with a large part of your net worth, or investment amounts of bullion, simply 'at home' in an environment like that ?? Even buried under a floor or in high a quality safe, theft, fires, destruction of the property itself are all risks that might be under appreciated.

[flying]

Just to go back to the 'you must take delivery' / survivalist mindset thats was being discussed.

Even buried under a floor or in high a quality safe, theft, fires, destruction of the property itself are all risks that might be under appreciated.

I do not know that I would call it a survivalist mindset.

Do you realize how many folks are unbanked in the USA?

( this in regards to Fiat currency)

That aside the risks you mention for PM's are there for all to decide even the so called protectors of large quantities for others.

But yes if one is not creative enough to provide safe & sound storage for their own wealth then perhaps they should pay? someone to do it for them. I am not one that lacks such creativity/security.

Edited January 30, 2011 by flying

[LivinLOS]

Exactly, if you prefer the risks of self storage to gain the benefit of control and access thats a totally valid choice. We of course also operate retail sales and delivery in major markets. My point is I talk to many investors, who have been made aware of risks of counter party issues, who have not thought as deeply on the very real alternative risks of securing investment amounts of bullion themselves. Or investors who use the wrong solution for their needs (eg no point trying to take delivery if your looking for a 1 month short term trade, the physical premium, the bid offer, the lack of leverage, etc) the solution must be tailored to the situation.

There are a wide spread suppliers and solutions out there with different levels of counter party, from highly suspect paper gold, to non allocated pool accounts and other promises, to allocated bullion, to privately administered bullion deposits, to taking delivery. I would advise anyone investing more than say 20 oz's or so, to really think deeply about which of these solutions best meets their needs, and if perhaps combination of different solutions is wise.

I think that considering this goes double if you start talking about a farang doing this within Thailand, as baht bars, security, being a non national on unknown visa status, maybe in a rented home or without the tools to really secure an investment or move or liquidate it later are all possibly under appreciated risks.

[flying]

I think that considering this goes double if you start talking about a farang doing this within Thailand, as baht bars, security, being a non national on unknown visa status, maybe in a rented home or without the tools to really secure an investment or move or liquidate it later are all possibly under appreciated risks.

I have to agree with you on this point. As I still live most of the year in the US so my choice is different than those guests of LOS as you pointed out.

Edited February 1, 2011 by flying

[elbicho]

I have 2 10 oz. Johnson and Mathey bars I would like to get rid of. I am in Chiang Mai. Let me know if interested.

[opac]

Don't think there'll be shops who do bars, coins or assayed bars here except from individuals. Although there are shops in Wua Lai road south of Koo Muang where I believe they're selling shots and probably can make a generic bar for you. Imma go scout and see if anyone selling/buying close to spot price. Waiting on next dip and the hunt shall be on. I'll keep you guys posted on the result.

[opac]

Late update. After asking around and being dumb for awhile, I've finally found my favorite place to buy pure 999 silver. As for silver shops in Chiang Mai or I would say in the whole country, they don't regard silver as an investment even though I'm pretty sure they know the potential and the up coming boom in silver market. Their profits mainly come from "art" and "craft" rather than just from day to day trading.

A necklace can cost 3-5 times above the spot price if it has a complex design. I bought a 925 silver necklace for 600 bahts and found out that it only weighs 4.5 grams, yet it's undoubtedly beautiful or else I wouldn't pay for it

I went to many shops in Wua Lai for 999 silver shots and made a fool out of myself a few times. I've finally learned that every seller in Wua Lai will ask what I was planning to do with those shots. Telling them the truth won't help. They won't sell pure shots if you are going to invest or to keep or to pass it around. So I made up a story that I was going to melt it down and mix with copper into coins for an anniversary event or something. The bottom line is, tell them you're gonna use it.

Many shops in Wua Lai don't keep pure shots in stock, they only order it when they need it. So I ran into this jai dee guy who runs a huge silver shop there. He said the supplier is usually a gold dealer in Kad Luang. These gold dealers need silver shots to work with gold. And then he gave me his regular supplier's name which is now my favorite. There are many gold shops that sell silver shots there. To name a few are In-Sri-Tong (golden eagle), Ma-Mung-Kon (horsie dragon), Chang-Dow (elephant star) etc.

What shocked me the most is that they all sell at spot price (or close to) with no vat or no other b.s., no license needed, no nada. Just walk in and buy. They will weigh them and put them in a plastic bag just as they would when you buy a fried chicken. I really feel bad for those who concern too much about the regulations. It is easier done than said in this case Although if you're a foreigner you might need a Thai to do the talking and it will make the transaction smoother.

To confirm this, I've just picked up a kilo yesterday for 29,800 bahts. Silver was hoovering around $29ish an oz and Thai baht is hoovering around 31ish per dollar thus I would say it was at the spot price. It is really important to stick with certain dealers to form a good relationship with them when you're investing in PM.

Happy holidays and happy stacking folks.

ps, If there's a chemistry prof or a scientist who knows it for a fact or has an access to. I really need information of where to get concentrated nitric acid around here. I would really appreciate it.

sample of my previous purchases

[udonguy]

thanks - I was lucky and bought 50 kilo at 38 and managed to sell it at 43. It is tempting at 29 but it is so volatile!!! and heavy

[udonguy]

PM sent as I dont want to go against and forum rules.

We are the highest google ranked gold retailer currently.

tried to PM you but it was rejected

[bjohn34]

Late update. After asking around and being dumb for awhile, I've finally found my favorite place to buy pure 999 silver. As for silver shops in Chiang Mai or I would say in the whole country, they don't regard silver as an investment even though I'm pretty sure they know the potential and the up coming boom in silver market. Their profits mainly come from "art" and "craft" rather than just from day to day trading.

A necklace can cost 3-5 times above the spot price if it has a complex design. I bought a 925 silver necklace for 600 bahts and found out that it only weighs 4.5 grams, yet it's undoubtedly beautiful or else I wouldn't pay for it

I went to many shops in Wua Lai for 999 silver shots and made a fool out of myself a few times. I've finally learned that every seller in Wua Lai will ask what I was planning to do with those shots. Telling them the truth won't help. They won't sell pure shots if you are going to invest or to keep or to pass it around. So I made up a story that I was going to melt it down and mix with copper into coins for an anniversary event or something. The bottom line is, tell them you're gonna use it.

Many shops in Wua Lai don't keep pure shots in stock, they only order it when they need it. So I ran into this jai dee guy who runs a huge silver shop there. He said the supplier is usually a gold dealer in Kad Luang. These gold dealers need silver shots to work with gold. And then he gave me his regular supplier's name which is now my favorite. There are many gold shops that sell silver shots there. To name a few are In-Sri-Tong (golden eagle), Ma-Mung-Kon (horsie dragon), Chang-Dow (elephant star) etc.

What shocked me the most is that they all sell at spot price (or close to) with no vat or no other b.s., no license needed, no nada. Just walk in and buy. They will weigh them and put them in a plastic bag just as they would when you buy a fried chicken. I really feel bad for those who concern too much about the regulations. It is easier done than said in this case Although if you're a foreigner you might need a Thai to do the talking and it will make the transaction smoother.

To confirm this, I've just picked up a kilo yesterday for 29,800 bahts. Silver was hoovering around $29ish an oz and Thai baht is hoovering around 31ish per dollar thus I would say it was at the spot price. It is really important to stick with certain dealers to form a good relationship with them when you're investing in PM.

Happy holidays and happy stacking folks.

ps, If there's a chemistry prof or a scientist who knows it for a fact or has an access to. I really need information of where to get concentrated nitric acid around here. I would really appreciate it.

sample of my previous purchases

Is this .999 purity or the standard .925?? thanks

There is a chemical and lab supply store on Suthep Rd which should have the nitric acid. Going west on Suthep, is on left side before Niemenhamen Rd. Sorry, don't remember the name.

Edited January 5, 2012 by bjohn34