Where/How to Sell Gold Krugerrands & Maple Leaf near Hua Hin or BKK

[NolaK]

Hello,

I am looking to sell two 1975 one ounce gold Krugerrands and one 1985 gold Maple Leaf.

I live 2.5 hours south of Hua Hin, but will also be in Bangkok in about a week. Does anyone have a particular favorite place or method for selling gold coins they can recommend?

Yes, I have seen some older post on TV from a few years back inquiring about best stores to handle this transaction; however, I would like some fresh info as things change so quickly here. All friendly productive advice is appreciated. What I am generally wondering is:

Are there fewer quires about stores as this is being done online more?

Any recent scams or such I should watch out for?

Legal issues?

Many thanks for some feedback,

N

[Sandman77]

Why you not go to the nearest gold shop or better sale on eBay proberbly you got a higher price

[MobileContent]

The condition is the most important. If they have no scratches and have been sealed all the time I would be interested to buy your Krugerrand. Its not pure gold but 917.

Send me a PM how much you want for it. If you look for market value I am not willing to offer it and gold shop too ill not offer you market price.

[NolaK]

Why you not go to the nearest gold shop or better sale on eBay proberbly you got a higher price

This is why I am checking all recommendation right now, so I can learn the best approach. I have never used Ebay since I moved to Asia. How does this effect shipping especially gold, or do you only sell to people in Thailand or...? I'd love to hear your experience with this. Thanks.

[NolaK]

The condition is the most important. If they have no scratches and have been sealed all the time I would be interested to buy your Krugerrand. Its not pure gold but 917.

Send me a PM how much you want for it. If you look for market value I am not willing to offer it and gold shop too ill not offer you market price.

Thank you. I will keep that in mind. I want to take a couple days and educate myself further, collect more opinions and such... before I make any decisions. This is just a starting point for me, but I truly appreciate the information.

[bobbin]

Firstly, I would say that condition is not important, except perhaps for the poster above..

I have sold 5 Maple Leaf coins here in Thailand. Approximately 3 years ago.

3 of them I sold here in Pattaya to the same gold shop but at different times. Most gold shops are jewelers that sell gold jewelry. They were not interested in bullion coins. The one fellow who did buy them did so at about a $50 discount to spot, which was about $1500/oz at the time. One American bought one at spot but it was my adventure at the biggest gold shop in Bangkok's Chinatown which provided the most amusement and amazement!

The fellow who did the buying was suspicious that I was trying to con him. First he said not interested and when I pressed him as to why not, he relented. He then took the coin to a little oven and applied blowtorch until the coin softened somewhat and bent it slightly. After that he used the gold-testing chemicals on the edge.

Satisfied, he then gave me the agreed amount (again about $50 less than spot. However, while I was still in the shop and standing in front of him, he picked up some snips and cut into the coin! To see that it was gold all the way through. I told him that he had ruined the coin and defaced the portrait of Queen E2! he pointed to the gold chains lining the walls and said he was melting it anyway to make more chains. I would not sell in Thailand again. I think a place like HK would buy at spot, which is the way it's supposed to work.

Gold is way down now and I would hang onto them if cashflow is ok.

[Suradit69]

Why you not go to the nearest gold shop or better sale on eBay proberbly you got a higher price

"Why you not go to the nearest gold shop..."

It's unlikely that gold shops would want foreign gold coins. There's no re-sale market for them here, so what would they do with them? If they took them it would be at a steep discount to their value.

There are coin shops on Charoen Krung Rd in Bangkok, but even there you may find it hard to find someone interested, at least as a reasonable price.

If you can find a foreigner willing to buy them and you can agree on a price, you'll do better or else wait until you visit Farang Land.

[howerde]

There is no real effective market in Tailand for bullion coins, if you must sell then expecta hefty discount, better off saving them and selling in the west.

[farang000999]

Try to find a dumb farang who thinks that fiat currency is going to collapse and sell it to him.

[Sandman77]

Is the gold import to Thailand now illegal or not?

I read this on google , but maybe this new law is realative new , and foreign coins imported before not affected?

Only gold chains in Thailand are allowed to import?

Bank can imports tons of gold but normal humans cannot , is there realy a fine on it to protect there own thaigold?

[noendtoit]

Is the gold import to Thailand now illegal or not?

I read this on google , but maybe this new law is realative new , and foreign coins imported before not affected?

Only gold chains in Thailand are allowed to import?

Bank can imports tons of gold but normal humans cannot , is there realy a fine on it to protect there own thaigold?

Yes, it is illegal to import gold into Thailand. Jewelry is one thing, but bullion is a no no. I would think that bullion coins would have to fall under this restriction. This explains why there is no market for "foreign" bullion coins here.

Also, I would be careful selling them. Run into the wrong person and you could wind up having them confiscated. After all, how did they get here legally?

[Vintage]

Any gold dealer should pay 95% of the gold price on the day and they will be able to sell for 100% as bullion or 102% as coins.

It makes no difference what country issued the coins they are sought after by investors at these percentages.

Do not put them on ebay you could be scammed it happens a lot in the UK the buyer claims he has your packet but no contents when it arrived.

[ozsamurai]

I have seen some on offer at spot in MBK. They buy/sell but only have about 2 coins. I wouldn't sell now to a shop, the price is too low.

Oz

[Naam]

The condition is the most important. If they have no scratches and have been sealed all the time I would be interested to buy your Krugerrand. Its not pure gold but 917.

Send me a PM how much you want for it. If you look for market value I am not willing to offer it and gold shop too ill not offer you market price.

some people don't seem to know that a KrugerRand contains one ounce of fine gold.

[NolaK]

Firstly, I would say that condition is not important, except perhaps for the poster above..

I have sold 5 Maple Leaf coins here in Thailand. Approximately 3 years ago.

3 of them I sold here in Pattaya to the same gold shop but at different times...

Great feedback and fun story. Thank you!

And thank you everyone else you have given me a lot to think about. Much appreciated!

[MobileContent]

The condition is the most important. If they have no scratches and have been sealed all the time I would be interested to buy your Krugerrand. Its not pure gold but 917.

Send me a PM how much you want for it. If you look for market value I am not willing to offer it and gold shop too ill not offer you market price.

some people don't seem to know that a KrugerRand contains one ounce of fine gold.

Krugerand has always been 22k Gold. The reason why I wanted the Krugerand is due to the fact that I have a gold necklace which is 22 karats so the colors match perfectly and they always had 8% copper. Singapore 22k gold has also 8% copper and so are the Double Eagle and Gold Eagle.

All you have to do is look at the color of the bullion coin.

http://en.wikipedia.org/wiki/Krugerrand

BTW The Maple is by the way 99.99% fine gold.

[Naam]

The condition is the most important. If they have no scratches and have been sealed all the time I would be interested to buy your Krugerrand. Its not pure gold but 917.

Send me a PM how much you want for it. If you look for market value I am not willing to offer it and gold shop too ill not offer you market price.

some people don't seem to know that a KrugerRand contains one ounce of fine gold.

Krugerand has always been 22k Gold. The reason why I wanted the Krugerand is due to the fact that I have a gold necklace which is 22 karats so the colors match perfectly and they always had 8% copper. Singapore 22k gold has also 8% copper and so are the Double Eagle and Gold Eagle.

All you have to do is look at the color of the bullion coin.

http://en.wikipedia.org/wiki/Krugerrand

BTW The Maple is by the way 99.99% fine gold.

your problem seems to be that you don't understand English. what part of "one KrugerRand" contains "one ounce of fine gold" is it you don't understand?

to compensate for the lower purity the coin is heavier (1.0909 troy ounces) than e.g. a Maple Leaf but the one ounce fine gold content is the same.

[MobileContent]

The condition is the most important. If they have no scratches and have been sealed all the time I would be interested to buy your Krugerrand. Its not pure gold but 917.

Send me a PM how much you want for it. If you look for market value I am not willing to offer it and gold shop too ill not offer you market price.

some people don't seem to know that a KrugerRand contains one ounce of fine gold.

Krugerand has always been 22k Gold. The reason why I wanted the Krugerand is due to the fact that I have a gold necklace which is 22 karats so the colors match perfectly and they always had 8% copper. Singapore 22k gold has also 8% copper and so are the Double Eagle and Gold Eagle.

All you have to do is look at the color of the bullion coin.

http://en.wikipedia.org/wiki/Krugerrand

BTW The Maple is by the way 99.99% fine gold.

your problem seems to be that you don't understand English. what part of "one KrugerRand" contains "one ounce of fine gold" is it you don't understand?

to compensate for the lower purity the coin is heavier (1.0909 troy ounces) than e.g. a Maple Leaf but the one ounce fine gold content is the same.

It still is 917 in gold but it is not 999 fine gold.

What it means is that the Krugerrand is 22k but the Maple leave is 999 (24k gold). The Krugerrand has more weight but it doesn't make it more valuable.

Let the OP go to a gold shop when he sells it off and I am sure he will get more for the Maple Leaf because Thai gold shops prefer to purchase gold at 99.9% or 96.5% and not 91.7%.

I can make a gold necklace with 2oz fine gold 99.9% and mix it down to 18k (750) and the gold shops still would not pay you in Thailand USD 2562 that one would have paid for two oz of 999.9 fine gold because it is 18k gold and not 24k gold.

My posting was focused on that the Krugerrand is 22k and not 24k (999.9).

End of subject

[AngelsLariat]

It still is 917 in gold but it is not 999 fine gold.

What it means is that the Krugerrand is 22k but the Maple leave is 999 (24k gold). The Krugerrand has more weight but it doesn't make it more valuable.

As of this writing, on international markets 1 oz Maple Leafs are fetching $1247 and Kurgerands are fetching $1250.

[Naam]

It still is 917 in gold but it is not 999 fine gold.

What it means is that the Krugerrand is 22k but the Maple leave is 999 (24k gold). The Krugerrand has more weight but it doesn't make it more valuable.

As of this writing, on international markets 1 oz Maple Leafs are fetching $1247 and Kurgerands are fetching $1250.

it's because the "mobile content" of the KrugerRand is higher

[AngelsLariat]

It still is 917 in gold but it is not 999 fine gold.

What it means is that the Krugerrand is 22k but the Maple leave is 999 (24k gold). The Krugerrand has more weight but it doesn't make it more valuable.

As of this writing, on international markets 1 oz Maple Leafs are fetching $1247 and Kurgerands are fetching $1250.

it's because the "mobile content" of the KrugerRand is higher

A Krugerand weighs 33.933 grams and is .9167 pure = 31.10 grams of pure Au.

A 1 oz Maple Leaf weighs 31.103 and is .999 pure = 31.07 grams of pure Au.

[Twice shy]

If I was in Thailand I would have them off you but I am in the Philippines now

And I would not low ball you

725-750 British pounds is what your coin should be worth as a easy quick sale

Stay away from ebay for selling them as you will just get scammers bidding the highest price

Vintage already warned you in an earlier post how that scam works

My advice is keep them and don,t listen to the financial gurus on here

[Sandman77]

I read that Thai gold has higher purity then normal gold is that true?

I have 5 Austrian philharmonic coins how many carat have it also 24 or 22?

[jpinx]

More information.....

http://www.thaivisa.com/forum/topic/750481-what-is-a-safe-investment-for-a-thai-expat/page-5#entry8378601

[AngelsLariat]

I read that Thai gold has higher purity then normal gold is that true?

I have 5 Austrian philharmonic coins how many carat have it also 24 or 22?

1 oz Philharmonic coins weigh 31.103 grams and are 0.9999 pure = 31.10 grams of pure Au.

Edited September 12, 2014 by AngelsLariat

[Robert2006]

Try to find a dumb farang who thinks that fiat currency is going to collapse and sell it to him.

You are clearly a magnificent specimen of quality knowledge and direction for us all; your words, a significant display of superior intelligence and wisdom.

2002 gold sold for $272 USD an ounce; those poor dumb farang were not lucky enough to possess the grand financial compendium of awareness, refinement and foresight like appropriately educated investors such as yourself. Crazy, thoughtless, uninformed farang trading their fiat currency for Gold, they’re not worthy of being in the same room with sufficiently qualified investors like you.

Those senseless dumb farang spend their nights in panic their fiat currency might lose value, what a shame. Owners of gold, their mentally challenged nobodies all the same, the sky is falling; world is coming to an end crowd, uneducated foolish lunatic Gold bugs, when will they learn? Intellectuals like you have the investment information and competent foresight we all need, thank you for the words of wisdom and the service you are providing.

[Naam]

Try to find a dumb farang who thinks that fiat currency is going to collapse and sell it to him.

You are clearly a magnificent specimen of quality knowledge and direction for us all; your words, a significant display of superior intelligence and wisdom.

2002 gold sold for $272 USD an ounce; those poor dumb farang were not lucky enough to possess the grand financial compendium of awareness, refinement and foresight like appropriately educated investors such as yourself. Crazy, thoughtless, uninformed farang trading their fiat currency for Gold, they’re not worthy of being in the same room with sufficiently qualified investors like you.

Those senseless dumb farang spend their nights in panic their fiat currency might lose value, what a shame. Owners of gold, their mentally challenged nobodies all the same, the sky is falling; world is coming to an end crowd, uneducated foolish lunatic Gold bugs, when will they learn? Intellectuals like you have the investment information and competent foresight we all need, thank you for the words of wisdom and the service you are providing.

early 1980 gold sold for $860/ounce and investors who bought then have today achieved the princely linear yield of 1.24% per annum

[Robert2006]

Try to find a dumb farang who thinks that fiat currency is going to collapse and sell it to him.

You are clearly a magnificent specimen of quality knowledge and direction for us all; your words, a significant display of superior intelligence and wisdom.

2002 gold sold for $272 USD an ounce; those poor dumb farang were not lucky enough to possess the grand financial compendium of awareness, refinement and foresight like appropriately educated investors such as yourself. Crazy, thoughtless, uninformed farang trading their fiat currency for Gold, they’re not worthy of being in the same room with sufficiently qualified investors like you.

Those senseless dumb farang spend their nights in panic their fiat currency might lose value, what a shame. Owners of gold, their mentally challenged nobodies all the same, the sky is falling; world is coming to an end crowd, uneducated foolish lunatic Gold bugs, when will they learn? Intellectuals like you have the investment information and competent foresight we all need, thank you for the words of wisdom and the service you are providing.

early 1980 gold sold for $860/ounce and investors who bought then have today achieved the princely linear yield of 1.24% per annum

That was 35 years ago! However I understand your point, we can all pick dates and different commodities to support opinions; I’m doing it as well in my commentary.

I just have to chuckle a little when I hear some of these analytical hatchet job investment suggestions from some of the members.

[AngelsLariat]

Try to find a dumb farang who thinks that fiat currency is going to collapse and sell it to him.

You are clearly a magnificent specimen of quality knowledge and direction for us all; your words, a significant display of superior intelligence and wisdom.

2002 gold sold for $272 USD an ounce; those poor dumb farang were not lucky enough to possess the grand financial compendium of awareness, refinement and foresight like appropriately educated investors such as yourself. Crazy, thoughtless, uninformed farang trading their fiat currency for Gold, they’re not worthy of being in the same room with sufficiently qualified investors like you.

Those senseless dumb farang spend their nights in panic their fiat currency might lose value, what a shame. Owners of gold, their mentally challenged nobodies all the same, the sky is falling; world is coming to an end crowd, uneducated foolish lunatic Gold bugs, when will they learn? Intellectuals like you have the investment information and competent foresight we all need, thank you for the words of wisdom and the service you are providing.

early 1980 gold sold for $860/ounce and investors who bought then have today achieved the princely linear yield of 1.24% per annum

That peak at $860 was very short lived. Couldn't have been a lot of people who bought-in at that price and then held for the next 34 years telling themselves that the current price doesn't matter because gold is the only real money.

[Naam]

Try to find a dumb farang who thinks that fiat currency is going to collapse and sell it to him.

You are clearly a magnificent specimen of quality knowledge and direction for us all; your words, a significant display of superior intelligence and wisdom.

2002 gold sold for $272 USD an ounce; those poor dumb farang were not lucky enough to possess the grand financial compendium of awareness, refinement and foresight like appropriately educated investors such as yourself. Crazy, thoughtless, uninformed farang trading their fiat currency for Gold, they’re not worthy of being in the same room with sufficiently qualified investors like you.

Those senseless dumb farang spend their nights in panic their fiat currency might lose value, what a shame. Owners of gold, their mentally challenged nobodies all the same, the sky is falling; world is coming to an end crowd, uneducated foolish lunatic Gold bugs, when will they learn? Intellectuals like you have the investment information and competent foresight we all need, thank you for the words of wisdom and the service you are providing.

early 1980 gold sold for $860/ounce and investors who bought then have today achieved the princely linear yield of 1.24% per annum

That peak at $860 was very short lived. Couldn't have been a lot of people who bought-in at that price and then held for the next 34 years telling themselves that the current price doesn't matter because gold is the only real money.

Dear Sir,

if gold is the only real money please tell us when was the last time you paid with gold in a supermarket, booked a flight, bought a car, paid your gardener, settled a bill in a hotel or restaurant?