To buy gold?

[FireMedic]

Hey everyone, just a quick question. I'm officially out of retirement and starting my new job in BKK. I'm thinking about buying some gold while I am here. Would it be better to buy gold ingots with US $ or THB here in BKK? I've seen some places that won't except foreign money and some places that welcome it when making large purchases.

[RandomSand]

Depends on the dealer. If you bring dollars to a gold shop in Thailand; You're not only buying gold but there's a second transaction which is selling USD to the gold shop.

I don't see why they wouldn't accept USD (and they certainly would for the right price) It's as good as gold, someway! -although they could offer an exchange rate which might not be acceptable to you.

Some places might have instructed their employees to not accept USD as taking in fake-USD in exchange for gold is a big risk. Then again some employees might be willing to take that risk. Some shops, where you are dealing with the boss, would be happy to buy USD cheap.

Just get THB if you have a choice.

Edited February 25, 2014 by RandomSand

[Soutpeel]

Would gold shops accept Thai baht as payment for gold bars in the US ?

[SheungWan]

Would gold shops accept Thai baht as payment for gold bars in the US ?

No, but the $US is the currency of international trade, so the comparison doesn't really apply.