Buying Gold In Thailand

[Khun Bob]

I'm interested in buying some gold baht coins or higher value items, but have great concern over being able to identify and know for sure that they are the real thing. So the questins are :

* in thailand how can i tell that gold is genuine, and not just on the surface

* Where are safe places to buy gold in Thailand

* What other things are there to watch out for, to do or not to do

* Why do jewellers in Thailand have 3 prices for gold - 2 selling and 1 buying (or so it seems) - 3 prices are stated in some jewellers shops

My intention behind buying gold is to make some money on the current gold price run. I will be selling when the price is right. This is likely to be in the UK, where i have found that very high percentage gold carries a premium price. A few years ago i bought gold in malaysia for £20 and was quoted over £150 in the UK.

[lopburi3]

I suspect the best method to test here would be the same as other places - drill a hole. Not the best idea for coins I suspect.

The red gold shops, especially those in China Town that have a lot of business are probably the most reliable places to buy gold. I would never buy in a jewelry store unless you know them well or require jewelry. The normal Thai gold in the red shops would be in the 21-23k range, which is extremely high compared with western countries. Very few people get cheated at these places.

There is normally a buy/sell and a sell with workmanship price.

[Tywais]

You might be better off considering gold options that way you don't have to physically handle the gold. Also, selling the gold later could be difficult to find a place to buy them. I had some 1oz gold Krugerands and could not find a bank or jewery shop in Thailand that would buy them even though they are considered currency. Had a friend take them to the UK to sell them and even there he had problems finding a place to buy them and not at what I would consider fair market value.

[paulnuek]

Love Thai gold and and bought and sold many times over the years.

I have noticed that in some shops when I have sold that the owner has passed a flame over the gold.

Was told that if the gold went black it was not considered pure.

Taking this advice on board I ask the shop owners to do the same when I buy.

If they refuse I go to another shop.

Not the best time to buy gold in Thailand.

I have been going for 19 years and it is the dearest I have ever know,in fact when I was there last week I even considered selling some of mine.....

[Heng]

Hua Seng Heng goldsmiths.

[Darkling]

Hua Seng Heng goldsmiths.

Is that you or your big brothers.

[simcity]

You have to look the raison you want to hold some gold .

If it is to wear then jewelry in china town shop if you like the color .

If it is to hold, bar 1-2-5 baht from china town shop

If it is investment perhaps some mining stock

If is gold bullion or oz perhaps Perth mint certificate

The gold hold in Thailand is not easy sold outside Thailand !

[Heng]

Hua Seng Heng goldsmiths.

Is that you or your big brothers.

No relation.

[trajan]

Hua Heng Seng gold shops are amongst the oldest and most reputable shops in Bangkok according to many local people....

<http://www.huasengheng.co.th/>

they sell 5, 10 and 25 baht weight gold bars of 96.5% purity (1 baht weight is about 15.2 grams)

here is a good website explaining more about Thai gold:

<http://gold.yabz.com/>

Im thinking about periodically buying 10 baht bars and squirelling them away in a bank safe (in addition to other savings plans) for old age

[Khun Bob]

Some good points - would be interested from anyone who knows how to get a good price for gold in the uk that was bought is asia (Thailand). If you cant ealise your profit easily then it make the purchase more risky...

Cheers

You might be better off considering gold options that way you don't have to physically handle the gold. Also, selling the gold later could be difficult to find a place to buy them. I had some 1oz gold Krugerands and could not find a bank or jewery shop in Thailand that would buy them even though they are considered currency. Had a friend take them to the UK to sell them and even there he had problems finding a place to buy them and not at what I would consider fair market value.

[sleepyjohn]

Had a friend take them to the UK to sell them and even there he had problems finding a place to buy them and not at what I would consider fair market value.

Baird and Co in the UK will accept any well known gold coins and return fair payment by mail promptly....I have sold Kruggerands to them before.

If you are thinking of buying a small amount of gold as a speculation don't bother, it would have to be assayed in the UK.

If it's a large amount there are traded vehicles with which you don't have to touch anything except a telephone.

If you're a doom and gloomer and want the gold under the bed for your old age perhaps the bars bought here at a spread of 1% are not a bad idea.

But of course gold might go down. Twenty something years ago it was worth the equivalent of several times what it is now.

[Khun Bob]

Sorry not sure what you mean by "assayed" ? Also why is buying a small amount not worth it ? Of course if the price goes up then the return on a small amount would not be as big as a larger amount - but i dont think you mean that...

Had a friend take them to the UK to sell them and even there he had problems finding a place to buy them and not at what I would consider fair market value.

Baird and Co in the UK will accept any well known gold coins and return fair payment by mail promptly....I have sold Kruggerands to them before.

If you are thinking of buying a small amount of gold as a speculation don't bother, it would have to be assayed in the UK.

If it's a large amount there are traded vehicles with which you don't have to touch anything except a telephone.

If you're a doom and gloomer and want the gold under the bed for your old age perhaps the bars bought here at a spread of 1% are not a bad idea.

But of course gold might go down. Twenty something years ago it was worth the equivalent of several times what it is now.