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[Briggsy]

Will gold shops in Thailand buy 1 oz krugerrands?

Will they pay over the spot price?

Anyone have any experience?

[Suradit69]

Krugerrands are 22-karat gold. Thai gold is normally 24-karat. You might get a buyer from one of the coin shops on Charoen Krung Road in Bangkok. Most gold shops would probably not be interested since they wouldn't be able to easily re-sell them. The coin shops may or may not be interested, but condition of the coin would effect the price offered since they normally deal with collectors.

Another option would be selling them at auction. In March of this year some were offered at Eurseree in Bangkok, starting at Baht 47,000 for the one oz. coin. Some sold for exactly that amount. (Click on the photo below.) Others did not find a buyer. 1/2 oz and 1/4 oz coins were also offered at that sale, but went unsold.

http://www.eurseree.com/

The auctions only take place 3 or 4 times a year and, if sold, would also attract a 10% commission.

You'd probably be better off selling them before coming to Thailand.

Edited November 13, 2013 by Suradit69

[Briggsy]

Thank you, yes indeed, it certainly looks like they would be easier to sell in the UK. Some of the specialist gold firms (not the rip-off ones advertised on tv) pay just over spot price. Deducting the postage, you basically get spot price. It seems as if you don't in Thailand.

It would be more convenient to sell in Thailand but I'll hold on and sell the next convenient time I have in the UK.

[Tywais]

I had Kruggerands and tried banks, gold shops, etc. and no one would buy them. Had a friend who was going back to the UK and gave them to him to sell there with no problems. My only regret, not holding onto them longer.

[Naam]

Krugerrands are 22-karat gold. Thai gold is normally 24-karat

Krügerrands are 22 karat but contain one ounce of fine gold. they are therefore slightly heavier than one ounce. Thai gold is not 24 (999.9) but 23 karat (965).

Edited November 14, 2013 by Naam

[Naam]

I had Kruggerands and tried banks, gold shops, etc. and no one would buy them. Had a friend who was going back to the UK and gave them to him to sell there with no problems. My only regret, not holding onto them longer.

even in continental Europe they are the preferred gold coins because they don't scratch easily.

[Suradit69]

Krugerrands are 22-karat gold. Thai gold is normally 24-karat

Krügerrands are 22 karat but contain one ounce of fine gold. they are therefore slightly heavier than one ounce. Thai gold is not 24 (999.9) but 23 karat (965).

Actually it's typically 23.16 karat, but it is available up to 24 karat and my point was that it's still higher than Krugerrands and the only place you're likely to sell foreign gold coins might be at a coin shop or at auction.

Thai Gold shops mostly have all the prices displayed in the unit of baht and of 23 carat purity. 99% pure gold is also sold in some shops in Thailand.

http://www.goldpricethai.com/facts

Edited November 14, 2013 by Suradit69

[Naam]

my point was that it's still higher than Krugerrands...

your karat point is irrelevant. a Krügerrand contains one ounce of fine gold. an ounce of "Thai gold" contains 0.965 ounces of fine gold. case closed on karats.