Gold bullion

[Timebandit]

Probably the best known, longest established gold trader is Hua Seng Heng on Yaowarat Rd in Bangkok.

If you want to buy gold in any serious quantity in Thailand with the expectation that you'll eventually sell it again in Thailand, then this shop is the gold standard (pun intended), but any of the larger gold shops especially in China Town (or elsewhere in Thailand) are equally reliable and trustworthy. I've bought and sold gold bullion at Thong Dee in Pattaya over the years. Totally reliable, trustworthy, honest, etc.

If you want to buy gold bullion in quantity with the intention of taking it back to your home country. Rather than carting it about with you and facing inevitable import/export issues, why not buy it on your next visit home and store it in a safe place like a bank safe deposit box.

Someone else asked about exporting gold bullion from Thailand and there was no definitive answer, but it obviously sounds like a potential hassle.

http://www.thaivisa.com/forum/topic/647366-flying-with-gold-bars-out-of-the-country/

And once it is in a bank safe deposit box it is owned by the bank when the bank fails. The whole reason for

owning gold is to avoid second party risk which is the financial chaos of collapsed currencies (IOU's) and failed banks. Put some in a reputable private vault and spread your holdings out.

[roquefort]

Unless you absolutely need to keep your bullion in Thailand I would suggest an online brokerage in Singapore which also allows you to store your purchases securely on the premises. They also have a very competitive buy back facility. PM me for more information.

[TheCruncher]

Unless you absolutely need to keep your bullion in Thailand I would suggest an online brokerage in Singapore which also allows you to store your purchases securely on the premises. They also have a very competitive buy back facility. PM me for more information.

Please post your info in this thread so everyone can benefit from it, as that is the purpose of a forum. If it is such a secret that it can't be made public I'm not gonna trust it anyway.

Also, however I believe that there are trustable companies that store your gold on their premises, my intention is to control the assets by myself. Otherwise I would just have left the money in the bank in my home country, or would purchase paper gold.

Edited April 6, 2016 by TheCruncher

[sometimewoodworker]

Probably the best known, longest established gold trader is Hua Seng Heng on Yaowarat Rd in Bangkok.

If you want to buy gold in any serious quantity in Thailand with the expectation that you'll eventually sell it again in Thailand, then this shop is the gold standard (pun intended), but any of the larger gold shops especially in China Town (or elsewhere in Thailand) are equally reliable and trustworthy. I've bought and sold gold bullion at Thong Dee in Pattaya over the years. Totally reliable, trustworthy, honest, etc.

If you want to buy gold bullion in quantity with the intention of taking it back to your home country. Rather than carting it about with you and facing inevitable import/export issues, why not buy it on your next visit home and store it in a safe place like a bank safe deposit box.

Someone else asked about exporting gold bullion from Thailand and there was no definitive answer, but it obviously sounds like a potential hassle.

http://www.thaivisa.com/forum/topic/647366-flying-with-gold-bars-out-of-the-country/

And once it is in a bank safe deposit box it is owned by the bank when the bank fails. The whole reason for

owning gold is to avoid second party risk which is the financial chaos of collapsed currencies (IOU's) and failed banks. Put some in a reputable private vault and spread your holdings out.

Could you provide a source for that. It is usually the case that the content of a safe deposit box is owned by the lessor of the box. Unlike a bank deposit which is the property of the bank, bankruptcy does not usually have any effect on the ownership of the content of safety deposit boxes.

Of course there maybe different laws in Thailand which is why I ask if you know that Thailand is different from most other countries.

Also why would a private Thai vault be any safer than a Thai bank? What stops them from going bankrupt and if they do what stops them from claiming ownership of your content.

Banks at least have some strict controls.

Edited April 6, 2016 by sometimewoodworker

[chilli42]

Do not buy Thai gold coins (the only type available in Thailand) ... I assume you are interested coins (though same applies for 1oz, 5oz and 10 oz gold bars). Thai coins are just not that useful, they are limited in their market appeal. It's much easier to sell or trade the gold coins of recognized currencies : US, Canada, Austria, Australia, UK are amongst the best options. Best/closest place to buy is Singapore. There are a number of reputable bullion dealers there. Can make the trip site seeing, visa run and bullion buying. BTW, silver is presently not a bad bullion at the moment ... take a look at the historic price spread between gold and silver. As someone else has said here, you also have the option of storing your purchase in Singapore.

[roquefort]

Unless you absolutely need to keep your bullion in Thailand I would suggest an online brokerage in Singapore which also allows you to store your purchases securely on the premises. They also have a very competitive buy back facility. PM me for more information.

Please post your info in this thread so everyone can benefit from it, as that is the purpose of a forum. If it is such a secret that it can't be made public I'm not gonna trust it anyway.

Also, however I believe that there are trustable companies that store your gold on their premises, my intention is to control the assets by myself. Otherwise I would just have left the money in the bank in my home country, or would purchase paper gold.

This is a sensitive topic at the moment (I'm sure you've been following the news in the last few days?). The people I deal with are discreet operators who do not want their details splashed over an internet forum with all the potential time wasters that would involve. I'm happy to pass on details to any serious investors who contact me by PM.

And yes, you can also have your own deposit box in the same facilty under your control.

[TheCruncher]

Do not buy Thai gold coins (the only type available in Thailand) ... I assume you are interested coins (though same applies for 1oz, 5oz and 10 oz gold bars). Thai coins are just not that useful, they are limited in their market appeal. It's much easier to sell or trade the gold coins of recognized currencies : US, Canada, Austria, Australia, UK are amongst the best options. Best/closest place to buy is Singapore. There are a number of reputable bullion dealers there. Can make the trip site seeing, visa run and bullion buying. BTW, silver is presently not a bad bullion at the moment ... take a look at the historic price spread between gold and silver. As someone else has said here, you also have the option of storing your purchase in Singapore.

I pointed out earlier already that I'm not interested in coins and since my money is already in Thailand, I also not gonna make extra cost of transferring money to buy gold in any other country than Thailand.

[kbelyeu]

Something that hasn't been mentioned.. you could fly to Singapore to purchase gold bullion then place it into a very secure facility for long term storage.

Google Singapore Bullion Vault

Kurt

[TheCruncher]

Something that hasn't been mentioned.. you could fly to Singapore to purchase gold bullion then place it into a very secure facility for long term storage.

Google Singapore Bullion Vault

Kurt

It has been mentioned at least 3 times already, and I have replied as many times that I have NO interest in purchasing gold outside of Thailand, and definitely NO interest in storing it at a location where it is outside of my immediate control.

[metisdead]

An inflammatory post have been removed.

[bazza40]

If you intend to buy, hold and sell in Thailand then 24k gold (99.99%) is not such a good idea. If you get 23k gold (96.5%) you can sell it anywhere, specially if you buy in China town. You can safely buy in any of the gold shops there with complete confidence. You will not be sold a fake there because however much you buy it will be a minor amount to them (unless you're talking about 3 or 4 figure kilogram numbers) and not worth the problems selling fake would be.

All gold shops will buy their own 23k gold back usually with no testing, you might find it a little less easy to sell in a different shop specifically because they will probably be flash heating your bar (or jewellery) to 1,000 degrees C to ensure that it is not fake (that temperature will have no effect on a real gold item)

The difference between the buying price and selling price for bars is 100฿ Per 1 baht weight (15.24grams) so you can make a profit in 1 day or less, this mornings price gets you a profit from yesterday of .0072% or 150฿ Per baht. Of course you can also make a loss.

A good website is http://www.goldpricethai.com

Carrying significant amounts of gold internationally even if you have the correct paperwork is not something I would ever want to do, as you can guarantee that every customs inspector and police force will be extremely interested in you, your reason for having it and why you're carrying it. Also I think that there a not a large number of countries where you can sell for a reasonable price even if it is 24k not to mention the tax that can be imposed

I don't really understand why 99.9% is not such a good idea, I would think the purer the better.

My interests are not in buying and selling in the short term, though of course when necessary it needs to be possible to be sold on short notice.

I'm also not so much interested in the spread, rather then the fees that are involved. How much premium you pay on the official price when you buy and when you sell?

Any reliable addresses in the Chonburi Province?

There are no fees involved, the "spread " as you call it is, as I said 100 baht per 1 baht, this morning if you buy then you pay 20,600 x the number of baht weight you buy. If you sell you get 20,500 per baht weight you sell.

If a shop ever asks for a fee for gold bars then run away they are trying to rip you off.

If you are buying jewellery then there is a "negotiable" fee added for making.

The reason that 23k is better is that that is what everyone buys so the shops have it virtually nobody buys 24k so that is a special order. Some shops will only sell 24k in 1kg bars. You may well find selling 24k as difficult as buying it will be.

The prices you will see outside the shops are always for 23k

There are three prices on display at the gold shops. For example, per baht 20,400, 20,300 and 19,400. I had always assumed the 19,400 price was the buyback price - or is this the falang buyback price?

[natway09]

Just make sure you buy from a gold shop with a TGTA logo & fully stamped on the bar.

Most decent gold shops will sell as standard in 1,5 & 10 bht weight. 20 bht. I bought at 2pm from a gold shop in Silom, they said return at 4pm & paid (84 bht commission per bht)

Can sell anytime..... take out of country interesting but am not going to try,, fraught with danger in so mamy ways

[Global Guy]

Something that hasn't been mentioned.. you could fly to Singapore to purchase gold bullion then place it into a very secure facility for long term storage.

Google Singapore Bullion Vault

Kurt

It has been mentioned at least 3 times already, and I have replied as many times that I have NO interest in purchasing gold outside of Thailand, and definitely NO interest in storing it at a location where it is outside of my immediate control.

I have found that the more simple you make a statement or request, the more difficult it is for people to process. You must have gotten answers to 100 different questions than what is originally posted. LOLOL.

I'd be interested in buying silver bars here too. Just bars. No coins. Not out of country. Not stored anywhere. In my possession.

[natway09]

Chilli 42 , sorry, you are talking rubbish, pretty well all gold shops sell bullion.

Please do not pontificate if have no idea what talking about.

[TheCruncher]

The best place is Singapour

Special traders can import gold for you without paying import

duties or any tax. They have their own vault (small fee) where

your gold is stored in your only name, pictures are taken, full

insurance. Whenever you wish you can resell your gold to the same trader,

without any tax, or withdraw it in person. These traders are not bankers.

They are controlled by the Government. Singapour traders will never inform

anyone, Governments included, about your assets.

I bought through Bullionstar, but there are others. [email protected]

Gold does not pay interests or dividends. So you don't have to declare

your gold to your Tax Officer. Only capital gains are to be declared

when selling with profit.... but noboby knows

I had a look at their website, but can't actually find any concrete figures about whet fees they charge for buy and sell. May be you can forward the information to me?

The only thing I notice is that they clearly claim that Bullionstar bar has no spread, though if I look at the sale price for The 100gram bullionstar held in their vault it quotes Gold Bar 100 gram - BullionStar Mint gold bars with no spread only SGD 5,498.77, while the buy price is is higher.

Any specific information regarding the buying and selling fees?

[Naam]

I prefer 99.9% because that one will be certified buy a international institution, while the 96.5% will be certified by a Thai institution. Thai gold is easier to sell in Thailand, but in other parts of the world they will prefer 99.9%

Is that a problem ? How are you going to get it out of Thailand and into another country?

Are you willing to take a chance with metal detectors at airports ?

Sure a couple of coins , but say a 100 to 250 gr bar... that is real money to lose.

Aren't you allowed to take gold with you?

A bit of juwelry , sure , but bullion bars not or not without proper documentation , depending on which country.

there's no such thing like bullion bars with documentation. and that applies to all precious metals.

[Naam]

Unless you absolutely need to keep your bullion in Thailand I would suggest an online brokerage in Singapore which also allows you to store your purchases securely on the premises. They also have a very competitive buy back facility. PM me for more information.

Please post your info in this thread so everyone can benefit from it, as that is the purpose of a forum. If it is such a secret that it can't be made public I'm not gonna trust it anyway.

Also, however I believe that there are trustable companies that store your gold on their premises, my intention is to control the assets by myself. Otherwise I would just have left the money in the bank in my home country, or would purchase paper gold.

This is a sensitive topic at the moment (I'm sure you've been following the news in the last few days?). The people I deal with are discreet operators who do not want their details splashed over an internet forum with all the potential time wasters that would involve. I'm happy to pass on details to any serious investors who contact me by PM.

And yes, you can also have your own deposit box in the same facilty under your control.

are these "discreet operators who do not want their details splashed over an internet forum" and facilities located in Nigeria's capital Abuja?

[sometimewoodworker]

If you intend to buy, hold and sell in Thailand then 24k gold (99.99%) is not such a good idea. If you get 23k gold (96.5%) you can sell it anywhere, specially if you buy in China town. You can safely buy in any of the gold shops there with complete confidence. You will not be sold a fake there because however much you buy it will be a minor amount to them (unless you're talking about 3 or 4 figure kilogram numbers) and not worth the problems selling fake would be.

All gold shops will buy their own 23k gold back usually with no testing, you might find it a little less easy to sell in a different shop specifically because they will probably be flash heating your bar (or jewellery) to 1,000 degrees C to ensure that it is not fake (that temperature will have no effect on a real gold item)

The difference between the buying price and selling price for bars is 100฿ Per 1 baht weight (15.24grams) so you can make a profit in 1 day or less, this mornings price gets you a profit from yesterday of .0072% or 150฿ Per baht. Of course you can also make a loss.

A good website is http://www.goldpricethai.com

Carrying significant amounts of gold internationally even if you have the correct paperwork is not something I would ever want to do, as you can guarantee that every customs inspector and police force will be extremely interested in you, your reason for having it and why you're carrying it. Also I think that there a not a large number of countries where you can sell for a reasonable price even if it is 24k not to mention the tax that can be imposed

I don't really understand why 99.9% is not such a good idea, I would think the purer the better.

My interests are not in buying and selling in the short term, though of course when necessary it needs to be possible to be sold on short notice.

I'm also not so much interested in the spread, rather then the fees that are involved. How much premium you pay on the official price when you buy and when you sell?

Any reliable addresses in the Chonburi Province?

There are no fees involved, the "spread " as you call it is, as I said 100 baht per 1 baht, this morning if you buy then you pay 20,600 x the number of baht weight you buy. If you sell you get 20,500 per baht weight you sell.

If a shop ever asks for a fee for gold bars then run away they are trying to rip you off.

If you are buying jewellery then there is a "negotiable" fee added for making.

The reason that 23k is better is that that is what everyone buys so the shops have it virtually nobody buys 24k so that is a special order. Some shops will only sell 24k in 1kg bars. You may well find selling 24k as difficult as buying it will be.

The prices you will see outside the shops are always for 23k

There are three prices on display at the gold shops. For example, per baht 20,400, 20,300 and 19,400. I had always assumed the 19,400 price was the buyback price - or is this the falang buyback price?

Selling price for gold bar

Buying price for gold bar

Buying price for gold jewellery

The jewellery buying price is always lower than the buying price for gold bar due to the reworking needed.

The spread between selling price for jewellery and buying price was about 8%

For bars it's under 1%

[Naam]

I have found that the more simple you make a statement or request, the more difficult it is for people to process. You must have gotten answers to 100 different questions than what is originally posted. LOLOL.

I'd be interested in buying silver bars here too. Just bars. No coins. Not out of country. Not stored anywhere. In my possession.

The best place to buy silver in ingot form is at Bangkok Assay on Charoen Krueng Rd. The shops serves as the wholesaler to the jewellery shops and fabricators here in Thailand. They purchase silver in 15KG ingots upwards from Hong Kong and then melt the barS down into pellet form. Then sell the silver to the retailers.

You can buy in three forms: 15KG+ ingots, pellets, or 600-800 gramme bars, which have been fabricated from the pellet form. There is also a 7% govt. tax, so they will take your ID details for this transaction. There is both a buy and sell window and the system operates similarly to the gold merchant trading system in Yaowarat with a premium of around 2 dollars US an ounce. Remember there are 30oz in a Kilo. The larger amounts you purchase the better the deal. I usually get a group of friends together and we buy at the same time thereby bagging a good price.

http://www.thaivisa.com/forum/topic/187205-where-to-find-silver-bullioningots-in-los/#entry2562544

[metisdead]

Posts containing email addresses have been removed:

18) You will not post phone numbers, email addresses, business names, or web/Facebook/Twitter/Google+ addresses in posts or signatures. Web addresses to personal non-commercial sites sites/blogs, or Facebook/Twitter/Google+ addresses, may be posted in a member's profile page.

[suzannegoh]

Aren't you allowed to take gold with you?

A bit of juwelry , sure , but bullion bars not or not without proper documentation , depending on which country.

there's no such thing like bullion bars with documentation. and that applies to all precious metals.

Sometimes you can get an Assay Certificate, whether or not that constitutes "proper documentation" is something that I don't know.

[sometimewoodworker]

Something that hasn't been mentioned.. you could fly to Singapore to purchase gold bullion then place it into a very secure facility for long term storage.

Google Singapore Bullion Vault

Kurt

For those pushing Singapore, as you have to go there and store it there in Singapore how does that make it cheaper? Or better for the OP?

[Naam]

Aren't you allowed to take gold with you?

A bit of juwelry , sure , but bullion bars not or not without proper documentation , depending on which country.

there's no such thing like bullion bars with documentation. and that applies to all precious metals.

Sometimes you can get an Assay Certificate, whether or not that constitutes "proper documentation" is something that I don't know.

certificates are worthless because there is no unique and specific description of a precious metal ingot possible, i.e. that piece of paper could be used for a fake bar too.

[gandalf12]

Open a Swiss bank account, they will then buy it on your behalf. A friend of mine did it and when the price went up he made a fortune

[rijit]

Some good tips. Thanks

Sent from my GT-I9000 using Thaivisa Connect Thailand mobile app

[bazza40]

There are three prices on display at the gold shops. For example, per baht 20,400, 20,300 and 19,400. I had always assumed the 19,400 price was the buyback price - or is this the falang buyback price?

Selling price for gold bar

Buying price for gold bar

Buying price for gold jewellery

The jewellery buying price is always lower than the buying price for gold bar due to the reworking needed.

The spread between selling price for jewellery and buying price was about 8%

For bars it's under 1%

Thanks for the education - good to know.

[suzannegoh]

A bit of juwelry , sure , but bullion bars not or not without proper documentation , depending on which country.

there's no such thing like bullion bars with documentation. and that applies to all precious metals.

Sometimes you can get an Assay Certificate, whether or not that constitutes "proper documentation" is something that I don't know.

certificates are worthless because there is no unique and specific description of a precious metal ingot possible, i.e. that piece of paper could be used for a fake bar too.

Almost anything can be counterfeited, including cash. And some gold bars from Suisse Pamp and others have serial numbers.

[TheCruncher]

removed by poster

Edited April 6, 2016 by TheCruncher

[Naam]

Almost anything can be counterfeited, including cash. And some gold bars from Suisse Pamp and others have serial numbers.

and these serial numbers can't be forged?

[suzannegoh]

Almost anything can be counterfeited, including cash. And some gold bars from Suisse Pamp and others have serial numbers.

and these serial numbers can't be forged?

ingot1.jpg ingot 2.jpg

I am sure that they could be forged, as could the VIN number on your BMW.