Where To Buy Pure Gold And Silver In Bkk?

[buzzer]

Hi,

I talked with an American/Thai that works with one of Thailand's larger gold merchants. Most of his clients are in the million dollars and over bracket. He, personally couldn't sell me pure gold in smaller amounts, and didn't really know where to direct me. When I asked him about silver, he said that it wasn't usually done due to the spread difference.

Does anyone know where to buy smaller amounts of pure gold and silver in BKK? Any places to avoid?

If a future emergency ocurred, I can't imagine taking a gold bar to a fresh market to buy food. Silver sounds much more practical. Is there any such thing as a Thai Silver coin?

Thanks,

Buzzer

[KoreaElte]

Interesting topic. I recently thought about physical Gold, too.

All the Thai people I know who keep a few hundred k to a a few million Baht worth of gold at home buy it from accredited gold sellers, mostly around Chinatown.

The gold price is published daily in the local newspapers and they have small bars available. Don't need to buy kilos Not sure about coins or silver.

I personally don't understand why someone would keep a few hundred k / millions of Baht worth of phsyical gold at home... Just sets you up for a home invastion IMHO. But I see the appeal in having gold at hand in times of crisis and looming inflation.

To safely have physical gold in Thailand you would need to have an insured bank vault. Just putting it into a safety deposit box at your bank will mean it's not insured. Want to have it insured and the cost will sky-rocket.

www.perthmint.com.au let you buy gold and silver and store it for you. It's not paper gold, it's physical gold. But that's not local so wouldn't really address your need.

[thrilled]

I've never seen 24k in thailand.I buy the 23k stuff at chinatown yaraphat road.Like your one friend said,probably have to buy quantity to get the 24k stuff.

[crazygreg44]

There is a mint in the Charoen Khrung Road where the jewelry manufacturers buy gold and silver granules or bars. I bet you can obtain 24 K granule gold there, just any weights you order. It is the official Bangkok mint. I don t know the exact address, but it is not far from Yoo Lim Gold & Silver , about 25 -50 meters

[buzzer]

Thanks for responding, Thrilled, and KoreaElite, however the above responses didn't really answer my questions, which are:

"Does anyone know where to buy smaller amounts of pure gold and silver in BKK? Any places to avoid?"

That's the essence of it - if you wish, read my OP (above).

I agree, but keeping even a small amount of cash in the home can set you up for a home invasion.

For certain reasons, I need pure (not Thai) gold and pure silver. I can't afford to buy a Kilo of gold, or even close.

I've decided against keeping it in foreign countries. Turmoil in Thailand could separate me from that pretty quickly.

I already have a safe deposit box for years - not insured, but has not been tampered with.

You can not get the price of pure gold in the newspapers, only Thai gold. But you can get that info at this link at Bangkok Post (along with current currency exchange rates, Pump station prices, national weather and stocks - a pretty good link.

Bangkok Post Financial Link. I doubt the moderators will block it - good info. Maybe the Nation has a similar link, I don't know.

Thanks,

Buzzer

[buzzer]

My previous notice didn't address this post by crazygreg44 - My email notification for it arrived seconds after I posted.

Greg - Is that the one with the large ornamental clock in the first room?

There is a mint in the Charoen Khrung Road where the jewelry manufacturers buy gold and silver granules or bars. I bet you can obtain 24 K granule gold there, just any weights you order. It is the official Bangkok mint. I don t know the exact address, but it is not far from Yoo Lim Gold & Silver , about 25 -50 meters

Thanks again!

Buzzer

[mkawish]

You still can purchase 1/10 oz of assayed swiss gold stamped as 999.999 pure

at many of the gold shops along JowWaRard Road around China Town in Bkk.

The price is quite comparable with God price settlement in the US market, plus small premium for sellers, of course.

Bought several just last months for nephews and nieces b/d. Cheers.

It is best just to keep them from curious onlookers though.

[eateer]

looking for silver coins or bullion. Any advice on where i can buy here in BKK???

[jalansanitwong]

I can supply you with 99.99% pure silver pellets here in Bangkok. Price at the moment is very high though.

[mkawish]

I can supply you with 99.99% pure silver pellets here in Bangkok. Price at the moment is very high though.

Price per gram, pls?

And assayed from which country, pls?

And who issues the certificate of origin and authenticity, pls?

Thx

[Naam]

certificate of origin and authenticity

for pellets?

[Khun Jean]

If Thailand is the place you are and stay in the future just buy the normal gold in a trusted shop. 24k will cost you more and will get you less when you try to sell it as everyone in Thailand is used to their form of gold. Silver, i buy ingots per kilo. These are used by jewelers and are of known quality, at least when you buy from a trusted seller like Bangkok essay. Be prepared to pay taxes though. Selling the silver will be more difficult, probably in a crisis people will not think about buying jewelry, because thats what silver is in Thailand. Gold however is money.

[jalansanitwong]

I can supply you with 99.99% pure silver pellets here in Bangkok. Price at the moment is very high though.

Even without v.a.t. the price is now over 500 baht per baht weight(15g) the silver has been assayed by local labs by myself occassionally for customers

always comes up 99.99%

never asked for a cert of orgin as the buyers are always local jewelers/manufacturers. silver always in pellet form.

if you want to contact me then go to [email protected]

[Maipenrai007]

If Thailand is the place you are and stay in the future just buy the normal gold in a trusted shop. 24k will cost you more and will get you less when you try to sell it as everyone in Thailand is used to their form of gold. Silver, i buy ingots per kilo. These are used by jewelers and are of known quality, at least when you buy from a trusted seller like Bangkok essay. Be prepared to pay taxes though. Selling the silver will be more difficult, probably in a crisis people will not think about buying jewelry, because thats what silver is in Thailand. Gold however is money.

Very true, been looking at buying gold when I am here, there isn't a lot of information on gold in thailand.

Found a funny post here relating it to gold, but when I arrived here there are so many gold shops compared to the west.

http://www.easygoldinvestment.com/gold-on-sale-like-fruit-in-thailand.html

[p_brownstone]

............... been looking at buying gold when I am here, there isn't a lot of information on gold in thailand.

Have you ever been to Yaowarrat - Chinatown?

Just one Link to information about Gold in Thailand :

http://www.goldtraders.or.th/

Patrick

[Raptor7]

Bangkok Assay Office sells gold bullion

http://www.bkkassay....ub_catalog_id=6

they have three locations....one is at New Road near intersection of Surawong Road...

http://www.bkkassay....g/contactus.php

[Raptor7]

HUA SENG HENG one of the oldest and most reputable local gold firms also sells Baht 5, 10, 25 and 50 weight 96.5% gold bars (the prices per Baht weight (with only Baht100 spread between buy-sell) are listed online, in the local newspapers and at each store window.

NOTE: 1 Baht weight = 15.244 grams = 14.71046 grams pure gold

http://www.huasenghe...vice/ingot.aspx

I have personally bought and sold gold bars and Hua Seng Heng do so immediately in cash, no questions asked, if the bars bear their goldsmith mark..

incidentally, the price per 1 baht weight is Baht 23,350 buy and Baht 23,450 sell at around 2pm Thailand time today (Aug 3, 2011)

[old wanderer]

A few years ago, when my wife and I were visiting, I had about 1 million baht in my Thai bank accounts. In June 30 each year those of us that are USA citizens or residents, must report each foreign bank account we have if the aggregate amount is greater than $10,000.

I do not like this law very much.

I withdrew the cash, went to China Town, went into one gold store and asked if they had 70 baht of 10 baht bars....they had 5 but if I could come back in 30 minutes they would have however many I wanted. (I think they just cast them in back). No body blinked an eye at a million baht sale...acted like they do it every day. Threw the notes in the counting machine, and handed me the gold bars. They wrote a little note in Chinese, that basically said they would buy back instantly those bars, no questions asked.

I brought the bars home, and traded 5 of them for 3 monster boxes of silver coins (500 oz each)

Took a very small hit because the bars were 23k vs 24k, but I do wish I had traded all 7 bars. (However the wife is happy when she takes them out to play with them.).

Bottom line, get out of currency and into precious metals. Right now I hold almost 90 % of my money in physical silver, 5% in gold, and 5% in cash.

Edited August 4, 2011 by old wanderer

[cloudhopper]

Right now I hold almost 90 % of my money in physical silver, 5% in gold, and 5% in cash.

I salute you old dude that is commitment! Whenever I start doubting my sanity 60% gold 40% cash position I will look to this for inspiration.

[Naam]

Bottom line, get out of currency and into precious metals...

...because the LORD will provide free of charge food and beer on the dining table, pays the utility bills, fills up the cars with free gasoline, sends angels to replace broken gadgets in the house, repairs leaking water pipes, books free flights and hotel rooms, and... and... and...

[heliox]

I brought the bars home, and traded 5 of them for 3 monster boxes of silver coins (500 oz each)

Took a very small hit because the bars were 23k vs 24k, but I do wish I had traded all 7 bars. (However the wife is happy when she takes them out to play with them.).

Bottom line, get out of currency and into precious metals. Right now I hold almost 90 % of my money in physical silver, 5% in gold, and 5% in cash.

Hi

Way to go with the ratio, wish I could convince the mrs it's the way to go.

Interested to know who or where I can find monster boxes for sale here in Thailand.

Cheers

Darren

[gregb]

Bottom line, get out of currency and into precious metals...

...because the LORD will provide free of charge food and beer on the dining table, pays the utility bills, fills up the cars with free gasoline, sends angels to replace broken gadgets in the house, repairs leaking water pipes, books free flights and hotel rooms, and... and... and...

Almost right, but not quite. Because 'GOLD' will provide for you. Not 'GOD'. You obviously didn't see the 'L' Naam.

Really it is because gold is the only currency that a central bank can't try and push down. Compare XAU with something like CHF for example, which many people seem to view as a goto currency. The SNB again yesterday intervened as they determined it was rising too fast. I'm sure Swiss businesses were happy with this stability, but it is hardly the most desired option by speculators who are trying to find a place to put their money that won't be destroyed by inflation.

Any currency that isn't in worse shape than the USD is being actively depressed to try and keep it from rising too much. Every currency except gold that is. At this point, there is little reason to want to hold anything else.

[Naam]

let's stop the bullshit fairy tales. gold does not provide or buy anything unless one exchanges it into currency. the bullshit fairy tale spread here is that one can hold gold and manage without income or without selling/converting gold into currency.

spreading that bullshit fairy tale has to stop. two plus two equals four, not five-point-five. period!

Edited August 4, 2011 by Naam

[Naam]

I'm sure Swiss businesses were happy with this stability

swiss business is horrified because of the strength of CHF!

[gregb]

let's stop the bullshit fairy tales. gold does not provide or buy anything unless one exchanges it into currency. the bullshit fairy tale spread here is that one can hold gold and manage without income or without selling/converting gold into currency.

spreading that bullshit fairy tale has to stop. two plus two equals four, not five-point-five. period!

Seriously Naam....you can't buy anything with CHF either in Thailand unless you convert it into THB. You are correct...you can't buy anything with XAU in Thailand unless you convert it into THB first. There is no fairy tale being presented here except the one where you try and arbitrarily differentiate between one currency and another using definitions which are specious at best. If XAU is not a currency, then neither is the USD as far as Thailand is concerned.

[Naam]

let's stop the bullshit fairy tales. gold does not provide or buy anything unless one exchanges it into currency. the bullshit fairy tale spread here is that one can hold gold and manage without income or without selling/converting gold into currency.

spreading that bullshit fairy tale has to stop. two plus two equals four, not five-point-five. period!

Seriously Naam....you can't buy anything with CHF either in Thailand unless you convert it into THB. You are correct...you can't buy anything with XAU in Thailand unless you convert it into THB first. There is no fairy tale being presented here except the one where you try and arbitrarily differentiate between one currency and another using definitions which are specious at best. If XAU is not a currency, then neither is the USD as far as Thailand is concerned.

we are discussing something out of context Greg. i referred to "Old Wanderer" who changed some years ago a million Baht into gold and then a part of it in silver coins which his wife uses once in a while to play with. his posting indicates that he still owns the precious metals he bought then.

therefore my [indirect] question was "who paid for all his expenses during these years? the LORD? or did 1mm Baht (~25,000 US-Dollars some years ago) converted to gold yield enough appreciation to cover several years of expenses for a family?"

[mika255]

Together with my Thai partner we are making Silver jewelry in Koh Samui.

We buy Silver pellets per kilo in BKK and we also make 500 gram bars to invest in this precious metal.

Our Silver bullions are 99.99 % pure Silver and stamped.

If you are looking for some Silver bars you can contact me.

[GMoney]

A few years ago, when my wife and I were visiting, I had about 1 million baht in my Thai bank accounts. In June 30 each year those of us that are USA citizens or residents, must report each foreign bank account we have if the aggregate amount is greater than $10,000.

I do not like this law very much.

I withdrew the cash, went to China Town, went into one gold store and asked if they had 70 baht of 10 baht bars....they had 5 but if I could come back in 30 minutes they would have however many I wanted. (I think they just cast them in back). No body blinked an eye at a million baht sale...acted like they do it every day. Threw the notes in the counting machine, and handed me the gold bars. They wrote a little note in Chinese, that basically said they would buy back instantly those bars, no questions asked.

I brought the bars home, and traded 5 of them for 3 monster boxes of silver coins (500 oz each)

Took a very small hit because the bars were 23k vs 24k, but I do wish I had traded all 7 bars. (However the wife is happy when she takes them out to play with them.).

Bottom line, get out of currency and into precious metals. Right now I hold almost 90 % of my money in physical silver, 5% in gold, and 5% in cash.

Any advice on travelling w/ the gold? Or bringing it thru customs?

[GMoney]

double post

Edited December 10, 2011 by GMoney

[Naam]

let's stop the bullshit fairy tales. gold does not provide or buy anything unless one exchanges it into currency. the bullshit fairy tale spread here is that one can hold gold and manage without income or without selling/converting gold into currency.

spreading that bullshit fairy tale has to stop. two plus two equals four, not five-point-five. period!

Seriously Naam....you can't buy anything with CHF either in Thailand unless you convert it into THB. You are correct...you can't buy anything with XAU in Thailand unless you convert it into THB first. There is no fairy tale being presented here except the one where you try and arbitrarily differentiate between one currency and another using definitions which are specious at best. If XAU is not a currency, then neither is the USD as far as Thailand is concerned.

we are discussing something out of context Greg. i referred to "Old Wanderer" who changed some years ago a million Baht into gold and then a part of it in silver coins which his wife uses once in a while to play with. his posting indicates that he still owns the precious metals he bought then.

therefore my [indirect] question was "who paid for all his expenses during these years? the LORD? or did 1mm Baht (~25,000 US-Dollars some years ago) converted to gold yield enough appreciation to cover several years of expenses for a family?"

GregB has answered this question with an elaborate essay. too lazy to search for it. but if i remember correctly then the LORD is not involved in the scheme he described how to make a living with the proceeds of physical gold. involved parties were mainly Messrs. Assumptions but not Mrs. Logic.