Any Gold Shops that sell 5 baht gold bars in Hang Dong area?

[tyznd]

Does anyone know if there are any gold shops selling 5 baht gold bars south of the city? Someone told me the gold shop on the second level of Big C had them but all they were selling was gold jewelry.

[northernjohn]

_{How small of a bar would a gold bar worth only 5 baht be?}

[mamborobert]

If you ask they will get it in for you usually ...often the same day. Have done this at Airport Plaza which is as near as I know to Hang Dong.

Also they have different weights for a baht of gold depending on if jewelry of bullion.......

Jewelry comes in at 15.16 grams minimum...where raw bullion comes in at 15.244 minimum...so make sure it's weighed in front of you

On a standard bullion bar there should be no real mark up for "making" normally associated with the creative component of jewelry.

[mania]

_{How small of a bar would a gold bar worth only 5 baht be?}

If your not kidding?

Yes can be confusing when translated to English but it is not the same Baht as price when used as weight

5baht of gold is 2.41 troy ounces

So today 5 baht of gold = 93,250 Thai Baht

Tyznd....Both Big C Extra & the other Big C in CM have 10 baht bars

Not sure about 5 baht

But in any case you can surely get 5baht bars at Wororat mkt big gold shop

[Diplomatico]

Aurora gold shop in the basement of Maya Mall sells 1 baht bars....asked about 5 baht bars today when I was in there and got the "no can" response.

[northernjohn]

_{How small of a bar would a gold bar worth only 5 baht be?}

If your not kidding?

Yes can be confusing when translated to English but it is not the same Baht as price when used as weight

5baht of gold is 2.41 troy ounces

So today 5 baht of gold = 93,250 Thai Baht

Tyznd....Both Big C Extra & the other Big C in CM have 10 baht bars

Not sure about 5 baht

But in any case you can surely get 5baht bars at Worrorot market big gold shop

Well it was a tounge in cheek response as noted by the size of font.

But the truth is I did not know and appreciate the information. I have every once in a while looked at gold in Worrorot Market but was more than I care to gamble with. Made the mistake of buying the wife a gold bracelet once. She traded it to her sister for who knows what. I had enough sense to keep my mouth shut.

[Dante99]

So today 5 baht of gold = 93,250 Thai Baht

Is that really correct? Or is it stating that 5 Baht weight of Thai gold costs 93,250 Baht? The difference being that Thai gold is not 100% so a gram of Thai gold does not contain a gram of gold.

[onthedarkside]

Today gold is for sale at 18,650 baht per baht of gold.

http://www.goldpricethai.com/

[eyecatcher]

To put it in context this is what you get for 60k baht....well a year ago you can get more for money now

I needed thr beers to get over the shock.

[mania]

So today 5 baht of gold = 93,250 Thai Baht

Is that really correct? Or is it stating that 5 Baht weight of Thai gold costs 93,250 Baht? The difference being that Thai gold is not 100% so a gram of Thai gold does not contain a gram of gold.

I believe it is correct but my experience is more with internationally traded coins

Yes some gold has a different gold content....

As you say Thai gold is 96.5% or 23 carat

But some gold that is trades worldwide like various coins are 22 carat & some are 24 carat

For instance Krugerrands & even US Eagles are 22 carat

yet Canadian Maples & US Buffalo's, US Double Eagles & Austrian Phils etc are 24 carat or 99.99% pure

But in the end it makes no difference with the coins or even plain rounds because gold is measured as a troy ounce of pure gold

Meaning (a sold as 1 ounce) Krugerand will weigh a bit more than a Maple to make up for the % other metals difference.

But they all contain 1 troy ounce of gold

But anyway to keep it simple a Troy ounce has 31.10 grams a Baht I believe has a net 14.71 if thinking in 99.999% terms

So I guess my post was off a bit as 14.71x5= 73.55 divided by a troy ounce of 31.10 = 2.36....not 2.41 as I wrote

But it is all very close at the end of the day & the nice thing about buying & selling gold here in Thailand

is there is really no premiums added except maybe a 100 baht to World spot prices.

If you buy coins from dealer in the US even plain bullion your looking at $60-85 dollars premium per ounce when you buy

Here is a example from a dealer I often used. Even today for plain eagles price is $60 above world spot or less if you buy more but still.....

http://www.apmex.com/category/11101/1-oz-gold-eagles

Or even a plain gold bullion round is $40 over spot........

http://www.apmex.com/product/50132/1-oz-gold-round-secondary-market

[Diplomatico]

So today 5 baht of gold = 93,250 Thai Baht

Is that really correct? Or is it stating that 5 Baht weight of Thai gold costs 93,250 Baht? The difference being that Thai gold is not 100% so a gram of Thai gold does not contain a gram of gold.

I believe it is correct but my experience is more with internationally traded coins

Yes some gold has a different gold content....

As you say Thai gold is 96.5% or 23 carat

But some gold that is trades worldwide like various coins are 22 carat & some are 24 carat

For instance Krugerrands & even US Eagles are 22 carat

yet Canadian Maples & US Buffalo's, US Double Eagles & Austrian Phils etc are 24 carat or 99.99% pure

But in the end it makes no difference with the coins or even plain rounds because gold is measured as a troy ounce of pure gold

Meaning (a sold as 1 ounce) Krugerand will weigh a bit more than a Maple to make up for the % other metals difference.

But they all contain 1 troy ounce of gold

But anyway to keep it simple a Troy ounce has 31.10 grams a Baht I believe has a net 14.71 if thinking in 99.999% terms

So I guess my post was off a bit as 14.71x5= 73.55 divided by a troy ounce of 31.10 = 2.36....not 2.41 as I wrote

But it is all very close at the end of the day & the nice thing about buying & selling gold here in Thailand

is there is really no premiums added except maybe a 100 baht to World spot prices.

If you buy coins from dealer in the US even plain bullion your looking at $60-85 dollars premium per ounce when you buy

Here is a example from a dealer I often used. Even today for plain eagles price is $60 above world spot or less if you buy more but still.....

http://www.apmex.com/category/11101/1-oz-gold-eagles

Or even a plain gold bullion round is $40 over spot........

http://www.apmex.com/product/50132/1-oz-gold-round-secondary-market

Nice. Now please.....please, please, please....say, "No, Mr Bond, I expect you to die."

[Dante99]

So today 5 baht of gold = 93,250 Thai Baht

Is that really correct? Or is it stating that 5 Baht weight of Thai gold costs 93,250 Baht? The difference being that Thai gold is not 100% so a gram of Thai gold does not contain a gram of gold.

I believe it is correct but my experience is more with internationally traded coins

Yes some gold has a different gold content....

As you say Thai gold is 96.5% or 23 carat

But some gold that is trades worldwide like various coins are 22 carat & some are 24 carat

For instance Krugerrands & even US Eagles are 22 carat

yet Canadian Maples & US Buffalo's, US Double Eagles & Austrian Phils etc are 24 carat or 99.99% pure

But in the end it makes no difference with the coins or even plain rounds because gold is measured as a troy ounce of pure gold

Meaning (a sold as 1 ounce) Krugerand will weigh a bit more than a Maple to make up for the % other metals difference.

But they all contain 1 troy ounce of gold

But anyway to keep it simple a Troy ounce has 31.10 grams a Baht I believe has a net 14.71 if thinking in 99.999% terms

So I guess my post was off a bit as 14.71x5= 73.55 divided by a troy ounce of 31.10 = 2.36....not 2.41 as I wrote

But it is all very close at the end of the day & the nice thing about buying & selling gold here in Thailand

is there is really no premiums added except maybe a 100 baht to World spot prices.

If you buy coins from dealer in the US even plain bullion your looking at $60-85 dollars premium per ounce when you buy

Here is a example from a dealer I often used. Even today for plain eagles price is $60 above world spot or less if you buy more but still.....

http://www.apmex.com/category/11101/1-oz-gold-eagles

Or even a plain gold bullion round is $40 over spot........

http://www.apmex.com/product/50132/1-oz-gold-round-secondary-market

And the bad thing about buying Thai gold is that it is not so easily sold in other markets thus would have to be sold at a discount price unless something has changed significantly recently. The coins you pay a premium but you get something sold at better prices around the world, don't you?

[mania]

And the bad thing about buying Thai gold is that it is not so easily sold in other markets thus would have to be sold at a discount price unless something has changed significantly recently. The coins you pay a premium but you get something sold at better prices around the world, don't you?

No not at all..........Gold is gold & sold all over the world at what ever the spot price are at the moment.

The gold I used as an example in the US is plain rounds & ungraded coins. Not the type folks collect or what they call

NGC certified. That type is not relevant as only collectors collect them They do not buy those for investment/resale etc.

Those premiums dealers charge in the US is their "vig" so to speak.

But no matter also because you would not care to travel with a good amount of Thai gold or US,Canadian etc.

Instead you would sell before leaving & buy again after landing in what ever area since it is always easier to sell

what is common to the locality

[Dante99]

And the bad thing about buying Thai gold is that it is not so easily sold in other markets thus would have to be sold at a discount price unless something has changed significantly recently. The coins you pay a premium but you get something sold at better prices around the world, don't you?

No not at all..........Gold is gold & sold all over the world at what ever the spot price are at the moment.

If you are suggesting that I would get the same price per gram for the pure gold content in a Canadian Maple Leaf and a Thai gold chain in New York or London for example, I think you are mistaken. The dealer can resell the coin much more easily than the chain and will therefore give a better price for the coin on a per gram of 100% gold basis.

[mania]

If you are suggesting that I would get the same price per gram for the pure gold content in a Canadian Maple Leaf and a Thai gold chain in New York or London for example, I think you are mistaken. The dealer can resell the coin much more easily than the chain and will therefore give a better price for the coin on a per gram of 100% gold basis.

Well that is a different thing

That is a dealers due to locality/preference choice.

But yes Gold price is determined by World Spot price not the dealer.

A dealer may choose not to buy or raise prices via a premium to increase profit

or lower buying price as you say because they feel

it is not as easy to sell something "different to locality/unfamiliar" but gold is gold period

That 2nd link I posted in post #10 is for plain old generic rounds.

No name...no brand...no country ...yet see it too has a $40 premium in the US?

This is dealers choice & why I said Thailand does in fact have a nice advantage for folks who buy & sell here.

Also that other thing I mentioned about not traveling well? That is the truth...It is a murky section of laws & rules by each country.

So those I know who have traded large amounts of physical gold would never think to putting a kilo or two in a carry on bag.

Although legal it is as I said murky & needs to be declared & various countries have various rules etc.

So kind of a non-problem about a dealer giving any better price. As you would buy & sell what is common to the area.

Same here actually....If you show up at Wororat with a dozen Gold Eagles or Maples you may not find it easy to sell.

[Gonsalviz]

So today 5 baht of gold = 93,250 Thai Baht

Is that really correct? Or is it stating that 5 Baht weight of Thai gold costs 93,250 Baht? The difference being that Thai gold is not 100% so a gram of Thai gold does not contain a gram of gold.

I had a twit in the states at a shop that buys gold try to tell me that the Thai gold I had could not be pure as then it would be liquid. I just walked away from the moron.

Any how 99.9% does not get any purer than that. Krabi and a few other places only sell 99.5% gold.

[ktm jeff]

Thank you mania ( Goldfinger ) for educating me.

[thrilled]

The best area to buy and sell gold in Thailand is Bangkok,Chinatown yaraphat rd. Well worth the visit

[THAIJAMES]

Actually the local dealers don't like foreign coins or gold bars and will give you less money for them. So if you plan on reselling in Thailand best to buy local gold from a reputable shop.

[mania]

Thank you mania ( Goldfinger ) for educating me.

Just something I use to enjoy

You know something funny & shows gold is gold regardless is all those

"We Buy Your Gold" guys in the USA

My goodness those guys are everywhere.

They have shops & also show up on weekends in Malls etc & setup a Kiosk

In the USA all gold jewelry is a pithy 11k,14k or at best 18k not like the 23k jewelry here

It is more a light yellow than gold in color due to its high "other metals" content

14k gold is like 58% gold compared to the 96.5% Thai jewelry

Which is why Thai gold jewelry does not even need mechanical clasps etc on bracelets & necklaces.

Because real gold is quite soft they just fashion a gold hook as part of the piece & bend it back & forth to open & close the jewelry

That is also that reason in the West they claim they use 14k as it is harder (being mostly other metal rather than gold)

But truth is gold is very durable. Of course look at old gold coins that still exist. Money gets much harder usage than jewelry

Yet these "we buy your gold" guys care not. They offer a price adjusted for it being 14k/58% gold then cut that price roughly in half again.

All these housewives & others gather up all their gold jewelry they have had sitting around & take it

in. The dealers scale it & offer them X amount & the wives are thrilled to get what ever $$$ thinking they did well.

Yet these guys are paying like half of the actual gold content price.

They then just have it processed/melted...rubbish taken out & keep the gold.

[onthedarkside]

Baiting post and the reply - removed.

[haybilly]

To put it in context this is what you get for 60k baht....well a year ago you can get more for money now

1416912064281.jpg

I needed thr beers to get over the shock.

Unusual looking 'Bar'--is that really what you bought as a Gold bar? I guess it should have been about 3 Baht weight?

[mania]

Unusual looking 'Bar'--is that really what you bought as a Gold bar? I guess it should have been about 3 Baht weight?

Those are Chinese & very cool. Very pretty

They are called Yuanbao/Sycee & come in various sizes/weights

Here is Jim Sinclair with some of his

[bhatmasterson]

Does this sound realistic to anyone? I got this from a website called The Outsider Club.

Jerome Levy Forecasting Center claims there's a 65% chance of a mammoth sized global recession by the end of next year. And its track record with accurate — albeit sinister — predictions is pretty convincing:

In 1929, a businessman and economist by the name of Jerome Levy didn’t like what he saw in his analysis of corporate profits. He sold his stocks before the October crash.

Almost eight decades later, the consultancy company that bears his name declared “the next recession will be caused by the deflating housing bubble.” By February 2007, it predicted problems in the subprime-mortgage market would spread “to virtually all financial markets.” In October 2007, it saw imminent recession — the slump began two months later.

The Jerome Levy Forecasting Center, based in Mount Kisco,

New York

, and run by Jerome’s grandson David, is again more worried than its peers. Its half-dozen analysts attach a 65 percent probability of a worldwide recession forcing a contraction in the U.S. by the end of next year.

Eventually, stock prices must return to historical norms.

In the wake of this seemingly unstoppable bull market run, a “return to normal” would now necessitate a dramatic equities drop by about half, according to financial expert John Hussman (highly respected for his "prodigious use of data" in backing is financial analysis in his weekly market commentary, regarded as one of the best-researched, best-articulated publications available to money managers).

Indeed, this would make the crisis of 2008 look like a pleasant walk in the park.

[Diplomatico]

Does this sound realistic to anyone? I got this from a website called The Outsider Club.

Jerome Levy Forecasting Center claims there's a 65% chance of a mammoth sized global recession by the end of next year. And its track record with accurate albeit sinister predictions is pretty convincing:

In 1929, a businessman and economist by the name of Jerome Levy didnt like what he saw in his analysis of corporate profits. He sold his stocks before the October crash.

Almost eight decades later, the consultancy company that bears his name declared the next recession will be caused by the deflating housing bubble. By February 2007, it predicted problems in the subprime-mortgage market would spread to virtually all financial markets. In October 2007, it saw imminent recession the slump began two months later.

Yeah. So the US housing market peaked in 2006 and then began its big decline in late 2006/early 2007. And these guys predicted it 12 months later. Impressive.

[kwak250]

Just purchased a 5 baht bar .

Been told by S.I.L her 5 baht necklace from around 15/20 years ago is worth more as its old gold and the gold is much more desirable .

Told her she is talking out of her ass!

Please tell me i am correct as it is all 96.5

I actually thought a 20 year old necklace would be worth less ?

[worgeordie]

All gold is the same age,they are not able to make anymore,

alchemist have been trying to turn lead into gold for ever,

regards worgeordie

[Oceanbat]

Just purchased a 5 baht bar .

Been told by S.I.L her 5 baht necklace from around 15/20 years ago is worth more as its old gold and the gold is much more desirable .

Told her she is talking out of her ass!

Please tell me i am correct as it is all 96.5

I actually thought a 20 year old necklace would be worth less ?

Should be valued on purity and not how old it is.

OB

[puukao]

Not to hijack.....i think somewhat on topic......so i had some gold a while ago, went to 2 shops to sell (not in Thailand). One said 4,000 USD...the other, on the same day, said $2800. the price of gold that day didn't move at all. it is pure, and they don't test for absolute pure (so they told me) so to make more we would have to go to a real place and really check.....the end result was eventually all the pieces were gifted away to relatives....but my point is to do the proper due diligence.

[Dante99]

Just purchased a 5 baht bar .

Been told by S.I.L her 5 baht necklace from around 15/20 years ago is worth more as its old gold and the gold is much more desirable .

Told her she is talking out of her ass!

Please tell me i am correct as it is all 96.5

I actually thought a 20 year old necklace would be worth less ?

value as gold and value as jewelry are different

she could be right about it being more desirable but that would be to a jewelry dealer or buyer, not a gold dealer or buyer

15-20 years is not very old