Who Sells Highest Purity Gold In Chinatown?

[hermespan]

Not interested in 91.67 or if I can avoid it, even 96.5.

I purchased a one baht chain last year from a company in Yaoworat that claimed every piece in their store was 24 karat. Either they are telling the truth (their sign is literally "24", and it is not operating hours. Butbid it hyperbole? Is this shop in fact selling pure, soft, gold jewellery. I guess the only easy to tell is to compare their handwritten daily prices with the slew of other shops. If it is more, it might be true.

But is it accurate? I buy gold for its maximum bullion content , only secondarily as jewellery.

[thrilled]

As far as I know but don't quote me.I thought all gold shops on yarophat rd were supposed to sell 96.5% 23 karat.I might be wrong.i just buy Canadian maple leaf coins 24karat 1ounce.

[Suradit69]

If you are not interested in jewelry, buy the gold bars.

Check out Gold Traders Assoc.. It's a bit dated, but the basic information should remain the same.

http://www.goldbarsworldwide.com/PDF/NB_1_BarsFromThailand.pdf

Bangkok Assay (and some others) offers higher fineness than 96.5

http://bangkokassay.com/eng/products.php?tb_sub_catalog_id=6

Edited April 29, 2013 by Suradit69

[market trader]

If I wanted to buy gold for its bullion content I certainly wouldn't be buying it from a Chinese gold shop. Certainly you must know that the Chinese are the masters of deception.

[Canada]

The other thing to consider is the loss of value when selling jewellery. When you buy it, they add a labor cost to the price and when you sell it, they subtract the labor cost value from the price. You will pay close to 1000 baht at either end (or both) of this transaction.

If you are buying bullion, there is no "price discrepancy". If you buy 965 bullion, it is very easy to unload at the posted price. Most Chinatown shops will also have 999 bullion. I have only bought it once. I was told that I would never have a problem ridding 965 on demand but that I may encounter problems with the 999. Never bought it again. Got rid of all my gold last year when the price was still 24500 ish. That was the last time it reached that level. It has only declined since then. Not terribly smart, just lucky.

[hermespan]

Thank you all for your valuable opinions. I will clarify my question... Has anyone on this board bought gold jewellery from the shop on Yaowarat named "24K" and do you have reason to believe (or have evidence) that their products actually ARE 24 K? They happily signed the sales receipt 99.99%, which I thought was great (or a lie as who else makes pure gold jewellery of the standards of the Royal Canadian or Perth Mints?)

[hermespan]

Thank you all for your valuable opinions. I will clarify my question... Has anyone on this board bought gold jewellery from the shop on Yaowarat named "24K" and do you have reason to believe (or have evidence) that their products actually ARE 24 K? They happily signed the sales receipt 99.99%, which I thought was great (or a lie as who else makes pure gold jewellery of the standards of the Royal Canadian or Perth Mints?)

[terryp]

there are 99.9 swiss gold bars for sale in the big Gold shops in Yawarat ..but if you want to re-sell in Thailand you will take a hit...and taking Gold Bullion out of Thailand legally needs a permit

[Naam]

there are 99.9 swiss gold bars for sale in the big Gold shops in Yawarat ..but if you want to re-sell in Thailand you will take a hit...and taking Gold Bullion out of Thailand legally needs a permit

both wrong assumptions. you will neither take a hit when reselling 999 nor do you need a permit when taking out a reasonable amount of bullion (below $20k value).

[Markaew]

Thank you all for your valuable opinions. I will clarify my question... Has anyone on this board bought gold jewellery from the shop on Yaowarat named "24K" and do you have reason to believe (or have evidence) that their products actually ARE 24 K? They happily signed the sales receipt 99.99%, which I thought was great (or a lie as who else makes pure gold jewellery of the standards of the Royal Canadian or Perth Mints?)

I invested in gold last year and made a lot of money on the resale. For an investment, stick with the gold bars. I would question jewelry made with 24K gold because it's typically not used because it's too soft. I even question the bars because they are easily spoofed with titanium. Be careful whatever you buy and plan on resale at the same store. If you take to a different store they question it's value as well.

[Naam]

Thank you all for your valuable opinions. I will clarify my question... Has anyone on this board bought gold jewellery from the shop on Yaowarat named "24K" and do you have reason to believe (or have evidence) that their products actually ARE 24 K? They happily signed the sales receipt 99.99%, which I thought was great (or a lie as who else makes pure gold jewellery of the standards of the Royal Canadian or Perth Mints?)

I invested in gold last year and made a lot of money on the resale. For an investment, stick with the gold bars. I would question jewelry made with 24K gold because it's typically not used because it's too soft. I even question the bars because they are easily spoofed with titanium. Be careful whatever you buy and plan on resale at the same store. If you take to a different store they question it's value as well.

question and check any lady whether she has the attributes of a lady.

note:

-if you find balls or any other not ladylike attachment then you should get suspicious and use due diligence even though the attachments might not be spoofed with titanium.

free lesson:

-Titanium has, as opposed to Gold, a very low density and specific weight, even much less than any steel. it is therefore one of the least preferred metals to "spoof" Gold bullion.

-spoofers use Wolfram (also known as Tungsten) which nearly matches the attributes of Gold.

[Soutpeel]

I even question the bars because they are easily spoofed with titanium. Be careful whatever you buy and plan on resale at the same store. If you take to a different store they question it's value as well.

Pray tell ?....if one gets spoofed because someone has substitued Titanium for their gold...then said person is a moron..

One assumes you mean Tungsten

sorry "Naam" just realised you have written a similar thing..

Edited May 1, 2013 by Soutpeel

[Markaew]

I even question the bars because they are easily spoofed with titanium. Be careful whatever you buy and plan on resale at the same store. If you take to a different store they question it's value as well.

Pray tell ?....if one gets spoofed because someone has substitued Titanium for their gold...then said person is a moron..

One assumes you mean Tungsten

sorry "Naam" just realised you have written a similar thing..

Yes, thanks for the correction.

[p_brownstone]

If I wanted to buy gold for its bullion content I certainly wouldn't be buying it from a Chinese gold shop. Certainly you must know that the Chinese are the masters of deception.

Nonsense.

Patrick

[zabaleta]

sorry to go slightly off the OP..

if you had a fair amount of spare thai baht around now,during this uncertainty concerning a possible weakening of the currency,would you.... a, buy sterling with it? or b, buy gold with it?,or c, buy a rice field in isaan with it?

please note,one of the above is a trick question!

Edited May 1, 2013 by zabaleta

[rak sa_ngop]

Thank you all for your valuable opinions. I will clarify my question... Has anyone on this board bought gold jewellery from the shop on Yaowarat named "24K" and do you have reason to believe (or have evidence) that their products actually ARE 24 K? They happily signed the sales receipt 99.99%, which I thought was great (or a lie as who else makes pure gold jewellery of the standards of the Royal Canadian or Perth Mints?)

I think that the assumption you are making that 24 Karat gold in Thailand is 99.99 etc p/c is wrong.

I believe that 24 Karat in Thailand means 96.5 p/c gold.

[Naam]

Thank you all for your valuable opinions. I will clarify my question... Has anyone on this board bought gold jewellery from the shop on Yaowarat named "24K" and do you have reason to believe (or have evidence) that their products actually ARE 24 K? They happily signed the sales receipt 99.99%, which I thought was great (or a lie as who else makes pure gold jewellery of the standards of the Royal Canadian or Perth Mints?)

I think that the assumption you are making that 24 Karat gold in Thailand is 99.99 etc p/c is wrong.

I believe that 24 Karat in Thailand means 96.5 p/c gold.

do you also believe 11 make a dozen?

[Orangutan]

Yes I have bought gold bars from 24 karat gold shop in china town over the last ten years. They also will buy back from you at the current market rate for 24 karat gold.

-O

[hermespan]

I store my gold in Singapore. IIt must not only be 99.9% pure in order to be VAT-free entering this 'not really a duty-free port despite the reputation of being such', it also has to be on the 'good delivery list' from London. I haveb't yet chevked to see if any Thai companies are on that list. I am going to guess that if anyone is it is only Bangkok Assay.

However, jewellery is exempt, or at least is not enforced. Keep that in mind next time you want to move a kilo of gold. My understanding is that the aprox USD 23,000 limit on financial instuments probably technically does refer to any form of bullion invcluding pure gold jewellery, but to know if it is enforced (like I hear it is in India) you'd have to ask a Hindu bride coming in with 10 laks of bangles, nose studs and ankle bells.

Ignore the state... At your own peril

[bangkokburning]

Im reminded of a story I read here years ago.

Guybwent into.a gold shop.to sell a heavy gold chain. Guy behind the counter takes it, goes in back, chops it in pieces, takes a piece or two and tosses it back at the guy and laughs...

Haha what are you gonna do about it?! Now F off...