99.9 % Gold Bullion Selling To Gold Shops

[patongster]

I have some gold bullion from the Perth Mint. If in the future I wanted to sell some in Thailand, how easy would it be?

[bangkapi]

I have Krugerrands from South Africa.

If in the future I wanted to sell some in Thailand, how easy would it be?

[49erMike]

The gold from the Perth Mint is easy, go to Tang Toh Kang on Mangkorn Road. They specialize in 99.999% gold and are the oldest shop in Bangkok. TOTALLY honest and good people. The manager, part of the family that owns the shop, speaks good English too. I've done a lot of business with them.

The Kuggerands may be more difficult. They are not pure gold nor 96.5% so most shops will shy away. Again, I would try Tang Toh Kang, they will at least steer you in the right direction. You may have to have them smelted, hope you have at least a kilo if you do!

[thrilled]

Many thai's believe that if it isn't 96.5 /23 karat it isn't real gold,good luck.

[TheGhostWithin]

Would Tang Toh Kang accept silver bullion as well? I am looking for a buyer in Thailand sometime in the next 1-2 years. Probably around November/December, there are a few market events which I want to play out before I sell. The amount of bullion is reasonable.

Are their prices in excess or at market values on bullion? Thanks

[farang000999]

lol they are below market value of course not above it

[brit1984]

patongster / bangkapi - if you read around some of the threads on gold currently open on the TV forum, you will come across many gold-obsessed-fools who you could PM with a proposition

in your PM, it is probably wise to remind them of their basic investment thesis, which normally revolves around one or both of the following 2 elements...

1. the world economic crises is going to continue for some time (and the other market participants are not aware of this) therefore the market price of gold will continue to increase once my unique perspective on the future of the world economy comes to fruition

2. given that inflation is currently slightly above long-term averages in some countries, all currencies will soon be useless and you will need to use gold bullion to purchase food, drink and consumer goods in Tesco

[farang000999]

more like, Ben Bernanke can't create more physical gold but he sure as shit can create more dollars.

[brit1984]

more like, Ben Bernanke can't create more physical gold but he sure as shit can create more dollars.

But this is no secret and could be seen as an explanation for (part of) the c.300% increase in gold over the last few years, rather than a reason to believe the gold price must keep rising

Edited May 11, 2012 by brit1984

[12DrinkMore]

patongster / bangkapi - if you read around some of the threads on gold currently open on the TV forum, you will come across many gold-obsessed-fools who you could PM with a proposition

in your PM, it is probably wise to remind them of their basic investment thesis, which normally revolves around one or both of the following 2 elements...

1. the world economic crises is going to continue for some time (and the other market participants are not aware of this) therefore the market price of gold will continue to increase once my unique perspective on the future of the world economy comes to fruition

2. given that inflation is currently slightly above long-term averages in some countries, all currencies will soon be useless and you will need to use gold bullion to purchase food, drink and consumer goods in Tesco

3. the Fed, ECB, BoE et al, are all printing humongous amounts of cash which WILL end up in peoples' pockets (through some conduit I am unaware of) and cause hyperinflation

4. the Indians and Chinese will ramp up purchases and provide a backstop

5. my GF loves it and thinks this is the ideal time to buy "it will never get cheaper"

6. Goldmann Sachs has the word "Gold" in the name.

7. The Greeks are going to bring down the entire global financial system in June.

8. The Us debt ceiling is about to be hit and so there will be a pathetic political debate on whether they will or won't increase it, when every Tom, Dick and Harry knows they will increase it.

Jeeze, I think I've just convinced myself to buy some more at this unbelievable bargain price of 1580. We sure won't be seeing these kind of prices around much longer.

Edited May 11, 2012 by 12DrinkMore

[jsflynn603]

I agree with all the above however never believe that gold cannot fall--it could easily fall to $1200. The world banking/government hybrid model fears a runaway gold/silver price because it could induce panic buying and devastate the ability of sovereign debt roll-over.

If this happened I would enjoy it even if it means that the gold stock that I own drops in value by half...you can fool all the people much of the time...but you can't fool all the people forever.

Search bank runs in Greece and Spain...eventually even the sheeple see through the wolf's disguise.

[ayayay]

patongster / bangkapi - if you read around some of the threads on gold currently open on the TV forum, you will come across many gold-obsessed-fools who you could PM with a proposition

in your PM, it is probably wise to remind them of their basic investment thesis, which normally revolves around one or both of the following 2 elements...

1. the world economic crises is going to continue for some time (and the other market participants are not aware of this) therefore the market price of gold will continue to increase once my unique perspective on the future of the world economy comes to fruition

2. given that inflation is currently slightly above long-term averages in some countries, all currencies will soon be useless and you will need to use gold bullion to purchase food, drink and consumer goods in Tesco

3. the Fed, ECB, BoE et al, are all printing humongous amounts of cash which WILL end up in peoples' pockets (through some conduit I am unaware of) and cause hyperinflation

4. the Indians and Chinese will ramp up purchases and provide a backstop

5. my GF loves it and thinks this is the ideal time to buy "it will never get cheaper"

6. Goldmann Sachs has the word "Gold" in the name.

7. The Greeks are going to bring down the entire global financial system in June.

8. The Us debt ceiling is about to be hit and so there will be a pathetic political debate on whether they will or won't increase it, when every Tom, Dick and Harry knows they will increase it.

9. 12DrinkMore spends way too much time on Thaivisa

[LibertyNinja1776]

I agree with all the above however never believe that gold cannot fall--it could easily fall to $1200. The world banking/government hybrid model fears a runaway gold/silver price because it could induce panic buying and devastate the ability of sovereign debt roll-over.

If this happened I would enjoy it even if it means that the gold stock that I own drops in value by half...you can fool all the people much of the time...but you can't fool all the people forever.

Search bank runs in Greece and Spain...eventually even the sheeple see through the wolf's disguise.

In hindsight, well said. You sure you're not a friend of Larry Edelson? (ex commodity trader) He also lives in Thailand, runs a number of advisory/newsletter services and has been advising his clients to hedge their gold. Until now.

Last week we were advised to lift half our hedge positions. Time to dip feet back into the water.

I'm keen to pick up some 99.9% in Bangkok. Where's the best place(s) to go and how high are premiums above spot?

Would prefer an int'l stamp/mint so I can liquidate for a good price overseas also.

Edited June 14, 2013 by LibertyNinja1776

[yoshiwara]

patongster / bangkapi - if you read around some of the threads on gold currently open on the TV forum, you will come across many gold-obsessed-fools who you could PM with a proposition

in your PM, it is probably wise to remind them of their basic investment thesis, which normally revolves around one or both of the following 2 elements...

1. the world economic crises is going to continue for some time (and the other market participants are not aware of this) therefore the market price of gold will continue to increase once my unique perspective on the future of the world economy comes to fruition

2. given that inflation is currently slightly above long-term averages in some countries, all currencies will soon be useless and you will need to use gold bullion to purchase food, drink and consumer goods in Tesco

Jeeze, I think I've just convinced myself to buy some more at this unbelievable bargain price of 1580. We sure won't be seeing these kind of prices around much longer.

Great call.

[LibertyNinja1776]

I'm keen to pick up some 99.9% in Bangkok. Where's the best place(s) to go and how high are premiums above spot?

Would prefer an int'l stamp/mint so I can liquidate for a good price overseas also.

Any info on specific shops that still sell 99.9%? Thanks in advance.

[monekyface]

Which shops are reputable and sell 999 cast bars?

[monekyface]

Yeah, OK, but where can I buy 999 cast bars here in Bangkok? What shop is most reliable and has reasonably friendly English-speaking staff?

[PoorSucker]

Racist slur removed.

[UbonOz]

Yeah, OK, but where can I buy 999 cast bars here in Bangkok? What shop is most reliable and has reasonably friendly English-speaking staff?

Have you thought of using http://www.bullionvault.com/

[monekyface]

Yeah, OK, but where can I buy 999 cast bars here in Bangkok? What shop is most reliable and has reasonably friendly English-speaking staff?

Have you thought of using http://www.bullionvault.com/

Their fee if I want to take possession of the bars is 1% plus shipping and insurance. I would rather just walk into a shop here in Thailand and buy bars and eliminate those fees. I am sure that some shops deal in 999 cast bars because I have heard it mentioned before, I just can not remember which shops actually do so.

I am also interested in bars denominated in tael and tola if those are available here. I am bored with the standard 965 baht bars.

[LibertyNinja1776]

I am sure that some shops deal in 999 cast bars because I have heard it mentioned before, I just can not remember which shops actually do so.

I've seen in a couple other threads Tang Tor Kang (Mangkorn Rd, Yaowarat) and Bangkok Assay mentioned. Also upper levels of Hua Seng Heng building next to Lotus in Yaowarat, but for larger bars apparently. All 999, for which I think ID is required.

This is all from my reading, not personal experience. Planning to check in out myself in Bkk and Hkg next month.

Any input from recent buyers out there?

[monekyface]

Thanks for that info Liberty. I wonder if the Bangkok Assay office just up the street from the main post office sells 999? That is interesting that they want ID. I was just talking to a gold shop yesterday and they told me that for baht bars, as long as I don't spend 1 million baht at one time they don't have to have any ID.

[monekyface]

It's really hard to find any maps to the location I am talking about but I did come up with an address:

Bangkok Assay Office

1230-32, New Rd., Suriyawong,

Bang Rak, Bangkok 10500 Thailand

phone 662-233-1295

It's only maybe 5 minutes walk from the main post office if I remember correctly.

Edited September 3, 2013 by monekyface

[monekyface]

the red stars are where i am speculating Bangkok Assay is. can anyone confirm?

Edited September 3, 2013 by monekyface

[yoshiwara]

lol they are below market value of course not above it

Isn't that a little bit unfair since market price is usually a nominal mid-point around which a shop will have a buy/sell spread commission? (ie the same as with currency, shares etc?)

[LibertyNinja1776]

the red stars are where i am speculating Bangkok Assay is. can anyone confirm?

Yes I think that's right - opposite Suriwong. Try streetview on google maps.

[monekyface]

Let me scrape up some cash and then I will go in person...