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[Jason DPC]

When living in Thailand I noticed a great number of gold shops, and I know that Thais regularly use gold as a hedge against inflation and for the storing of wealth. However, I don't recall seeing any places dealing in silver. Is silver not valued in Thailand or did I just happen to not see any? I have a decent amount of silver bullion (1, 5, and 10 oz bars), but very little gold. Were I to move back to Thailand, would I find it difficult to sell my silver should the need arise?

Also, in the States, it's much easier to sell American gold Eagles, and they have a premium over other gold bullion. However, I'm guessing this is not the case in Thailand and it would be best to have either gold Pandas from China or coins from Perth Mint in Australia (due to Australia being in closer geographic proximity to Thailand than America is). Any thoughts on this? FYI, gold Eagles are less pure than some other coins. My thinking is due to Thai baht being .965 pure, I'd be better off having coins that are .9999 pure than the less pure gold Eagles if wanting to resell them in Thailand.

[Arkady]

In fact it is easiest to resell gold in Thailand, if you buy and sell from the same chain of gold stores. They trust their own brands most of all. Mostly they trade in 10 baht weight ingots of Thai purity but some like Aurora also now offer .9999 purity kilo bars and other weights.

[Jason DPC]

Thanks for that info, but unfortunately I'm not expecting to ever purchase a 10 baht bar (about 5 ounces), nor a kilo bar of gold. I may have that amount of gold in 1 oz bars, but not that much in a single bar. Do you know if they deal in 1 ozt bars or coins?

Do you know if silver bullion is readily bought and sold there?

[mccw]

^ regards silver, its not in the same way as gold. One see gold shops everywhere, while the silver trade seems only to be amongst importers and jewlry makers.

[mccw]

Silvers beads mostly; or scrap bags of old rupees and such. The occasional ancient looking bar of dubious quality.

I started a thread a while ago about setting up a silver bullion company for Thailand offering bullion quality branded bars but never took it any further. The main turn off is silver has VAT at 7% while gold is tax free. Still silver bullion sells in UK with 20% VAT + comms so could work , but not for me to set it up.

[infinity11]

I looked into silver when it was low in 2008 around 12, i was sure i would make a killing but was told to go to burma or elsewhere to buy.

[Jason DPC]

I was unaware about the VAT in regards to silver. That's quite unfortunate. Here in the U.S. tax on silver varies from state to state. Some are tax free, some charge tax if purchasing under $500 worth, etc. It sounds as though if I were to relocate to Thailand, it'd be wise to convert my silver to gold prior to doing so. That would help with weight and ease of transport anyway.

I know Thais are particular about their gold and don't like the less pure American commercial gold (such as 14k), but I'm hoping they wouldn't have a problem with gold as pure or more pure than .965 and in the form of a bar or coin. Depending on the price of gold at the time of a relocation, it would be financially painful to have to liquidate my holdings and then buy again one I get there so that I'll have the type of gold that's in demand.

[mccw]

I've been considering this question myself and , since my silver is for absolute emergency/ not trading, I'm leaning on the side of shipping it; however, the easiest would be to sell up mans buy thai gold over here.

[ajarnpot]

 

Silvers beads mostly; or scrap bags of old rupees and such. The occasional ancient looking bar of dubious quality.

I started a thread a while ago about setting up a silver bullion company for Thailand offering bullion quality branded bars but never took it any further. The main turn off is silver has VAT at 7% while gold is tax free. Still silver bullion sells in UK with 20% VAT + comms so could work , but not for me to set it up.

 

Did you look at Laos, I'm informed they are quite into silver

[mccw]

Ajarn pot. Can you tell me more in regards to Loas silver market? I don't know about this at all. Only seen the tourist stuff really.

[yoshiwara]

I've been considering this question myself and , since my silver is for absolute emergency/ not trading, I'm leaning on the side of shipping it; however, the easiest would be to sell up mans buy thai gold over here.

Emergency as in 'end of the world'?.

[mccw]

I've been considering this question myself and , since my silver is for absolute emergency/ not trading, I'm leaning on the side of shipping it; however, the easiest would be to sell up mans buy thai gold over here.

Emergency as in 'end of the world'?.

No

[ajarnpot]

I'm no expert on Silver, I'm afraid. Was hoping to find more information from members.

[ajarnpot]

Hi Vibe, would this work at aurora as well? just put a couple of kg on the credit card?

[infinity11]

Do NOT have silver shipped over here, unless you do not want to receive it. We had a 3 day fight with customs and had to get the bank of Thailand involved for them to release a shipment of 500oz of Canadian Maples. Horrible and corrupt organization.

Instead, go to a gold shop and ask about silver, many of them DO sell it, but its in bead or pellet form, and they sell it mainly for the jewelers. However, it is very near the spot price of silver, since its in a raw form, not bars or coins. The spread is very good, unless silver gets volatile. And its not an issue to sell back, this I have tested. Buying a few kilo bags at a time for a rainy day is good practice in my opinion, and is very liquid.

I sure would like to hear about some re-selling stories regarding this, liquidity IS important.

Do you have to re-sell it to the ones your purchased from?

Ever been refused a buy back?

Etc...

[UbonOz]

I use - http://www.bullionvault.com/guide/gold/Ready-to-buy-gold#section-Ready-to-buy-gold-Insurance

[Naam]

Not sure who aurora is, but most gold dealers are able to get silver if they do not have any. The shop that I buy from has a 25kg sack that they scoop it from. There are two shops in CM that I buy from, and they have never asked me if I bought it from there shop or not when I went to sell back. The market is very liquid and the spread is tight. And the fact that the price is so close to spot, makes its a good investment for Thailand.

the market is very liquid and transport is no problem.

[infinity11]

Do NOT have silver shipped over here, unless you do not want to receive it. We had a 3 day fight with customs and had to get the bank of Thailand involved for them to release a shipment of 500oz of Canadian Maples. Horrible and corrupt organization.

Instead, go to a gold shop and ask about silver, many of them DO sell it, but its in bead or pellet form, and they sell it mainly for the jewelers. However, it is very near the spot price of silver, since its in a raw form, not bars or coins. The spread is very good, unless silver gets volatile. And its not an issue to sell back, this I have tested. Buying a few kilo bags at a time for a rainy day is good practice in my opinion, and is very liquid.

I saw the word tested and thought, how can you test the quality and authenticity especially if is a thousand little pellets, where does your trust come from, experience? Can this dealing be done elsewhere in Thailand? I would have done it ages ago!!! Whats the catch??? or all straight and on the up and up?

[infinity11]

What kind of scale do you use?

Minimum to maximum weight it can calculate?

[mccw]

Interesting VIBE

Funnily I never thought to even ask- just assumed it would be on display if for sale.

Cheers

[Jason DPC]

With a VAT at 7% and the price near spot, I guess silver isn't too badly priced, but I wouldn't want to buy pellets...would prefer to stick to 1, 5, and 10 troy ounce bars.

Thanks for the info you all provided. I'll have to give some more thought as to what steps I'll take but it doesn't look like silver is the way to go there in the LOS, which is unfortunate.

[infinity11]

Wish i knew this in 08 i was ready to buy silver/gold when silver was around 12, shopped around researched and gave up.

Now waiting for the next buying opp should it arrive.

Or i might look into other commodities and metals.

[mmh8]

anyone know where I can get platinum in thailand? I have access to xrf