where to buy a 1 ounce gold coin?

[boomerangutang]

Is there a shop or a person who has a gold coin for sale? All the gold shops sell jewelry or baht weight, which I believe is only sellable in Thailand. I'm planning to put some cash in gold for taking to the US and selling (years?) later. There's probably a shop in Bkk. Any tips appreciated.

[Hammock]

Probably Super Rich sells Gold Krugerrand?

[boomerangutang]

where is Super Rich?

[snakebean]

these guys in bangkok are the best ive bought from there heaps and wife is a gold lover said its the best

there called Hua Seng Heng

they are in china town bangkok

http://www.huasengheng.com/

[starky]

Is there a shop or a person who has a gold coin for sale? All the gold shops sell jewelry or baht weight, which I believe is only sellable in Thailand. I'm planning to put some cash in gold for taking to the US and selling (years?) later. There's probably a shop in Bkk. Any tips appreciated.

Second hand gold is gold is gold. Bullion you buy in Thailand has no more or less value than any other gold to my knowledge. 2 baht bullion brick will put you near on an ounce and has always been fairly famous for purity at 23 karat. I think the Vietnamese sell it at a full 24 so maybe a trip over there is in order. IMO you would be wanting a shed load of bullion/ gold coins to be making any sort of considerable profit in future years. Lest of course ya be a pirate

[boomerangutang]

thanks for replies.

[Jamin123]

I'm going back to USA next summer to liquidate a small stach of bullion. If interested, please pm me.

[thai3]

these guys in bangkok are the best ive bought from there heaps and wife is a gold lover said its the best

there called Hua Seng Heng

they are in china town bangkok

http://www.huasengheng.com/

Seacon sq as well upstairs, looks like a trading floor on the stock market some days

[Buzzz]

If you plan on selling in the USA, you probably want the American Gold Eagle or the Canadian Maple Leaf. Instantly recognizable.

Thai Gold? Might not be accepted readily.

Curious,

The 1OZ. American Gold Eagle has a legal tender of $50.

Can you claim it as $50 value at customs inspection?

APMEX GOLD USA

http://www.apmex.com/category/10000/gold

Edited June 21, 2016 by Buzzz

[maewang99]

hmmm..... the gold idea doesn't sound very good, even short term.. and taking money back to where there is nothing but slow growth and low rates as far as the eye can see, even if they lift off zero a bit... when Thailand hasn't seen a market spike since Tum Yung Gung and many listeds in the quickly disappearing Thai 'downturn' have held true to single digit PE's... and many Thai still shiver at 1997.... are you sure you gotta do that?

Edited June 22, 2016 by maewang99

[Suradit69]

Is there a shop or a person who has a gold coin for sale? All the gold shops sell jewelry or baht weight, which I believe is only sellable in Thailand. I'm planning to put some cash in gold for taking to the US and selling (years?) later. There's probably a shop in Bkk. Any tips appreciated.

Second hand gold is gold is gold. Bullion you buy in Thailand has no more or less value than any other gold to my knowledge. 2 baht bullion brick will put you near on an ounce and has always been fairly famous for purity at 23 karat. I think the Vietnamese sell it at a full 24 so maybe a trip over there is in order. IMO you would be wanting a shed load of bullion/ gold coins to be making any sort of considerable profit in future years. Lest of course ya be a pirate

"Second hand gold is gold is gold. Bullion you buy in Thailand has no more or less value than any other gold to my knowledge. "

Exactly. I really don't see any value in buying it in the form of coins unless you are into collecting old coins and understand the market for them.

Taking some gold and stamping a panda or eagle on it in the form of a coin and selling it for more than the melt value of the gold is just a marketing/packaging strategy on the part of people minting coins and profiting from it.

If you want gold on the assumption it will increase in value, just buy a two baht bar whenever you can. It'll take a lot of two baht bars (that you want to haul back to the US) before you make much even if the price rises, but it will still sell for the gold value and not because it has a cute panda on it or commemorates from unfathomable "historical event."

Actually you'd probably do better if you use a strong dollar to buy baht and use the baht to buy gold and then hold onto it here for future use. If the dollar eventually cycles lower that should add to the price of gold and maybe the strength of the baht, and make it a good "investment" in baht terms.

[Buzzz]

Basically, this is a misunderstanding of what gold bullion is. The gold coins posted above are considered bullion. (Collector coins are another story)

The common perception is that rectangular bits of gold are the most cost effective, and perhaps the only available, form of gold bullion & gold coins are not really gold bullion.

When you go to buy gold for gold's sake, what you are looking for is a practical and tradable form of gold - gold bullion.

Gold bars can be costly to liquidate.

You may encounter assay, refining, or just handling fees in trying to liquidate a gold bullion bar. (especially if its gold from Thailand being sold overseas)

It's much more difficult and time-consuming to liquidate gold bullion in a single chunk than it is to sell the same amount of gold bullion in more convenient and tradable sizes like coins.

[starky]

Basically, this is a misunderstanding of what gold bullion is. The gold coins posted above are considered bullion. (Collector coins are another story)

The common perception is that rectangular bits of gold are the most cost effective, and perhaps the only available, form of gold bullion & gold coins are not really gold bullion.

When you go to buy gold for gold's sake, what you are looking for is a practical and tradable form of gold - gold bullion.

Gold bars can be costly to liquidate.

You may encounter assay, refining, or just handling fees in trying to liquidate a gold bullion bar. (especially if its gold from Thailand being sold overseas)

It's much more difficult and time-consuming to liquidate gold bullion in a single chunk than it is to sell the same amount of gold bullion in more convenient and tradable sizes like coins.

Again I dont know where you get this "especially if its Thai gold that you want to sell overseas" . I could understand America maybe with the eagles but outside of that??? Anybody that will buy gold bullion or otherwise will check the purity that days gold price and then rob you accordingly. Gold generally has never been a good investment and I was buying it back when it was 350 an ounce. It has its peaks and troughs but if that is your thing maybe invest in gold futures. Even if you buy real low and sell real high in hard currency IMO you would need ? What? A kilo to see any significant return? anything else is no different than hocking gold when you run out of cash. So yeah if you want go out and buy a kg of gold carry it round then effectively try and smuggle it somewhere else you might make a return. Otherwise I dont see the investment potential of carrying a few ounces of gold around as an investment idea.

[Buzzz]

Every gold shop in the US will instantly cash in your Maple Leafs or Eagles.

How many are gonna want to deal with Thai gold? I really doubt it is as tradable. They will want to test it and then probably offer you less than you expected.

As a general rule, in Thailand, deal in Thai Gold. In the west, deal in the stuff they recognize.

[Suradit69]

Basically, this is a misunderstanding of what gold bullion is. The gold coins posted above are considered bullion. (Collector coins are another story)

The common perception is that rectangular bits of gold are the most cost effective, and perhaps the only available, form of gold bullion & gold coins are not really gold bullion.

When you go to buy gold for gold's sake, what you are looking for is a practical and tradable form of gold - gold bullion.

Gold bars can be costly to liquidate.

You may encounter assay, refining, or just handling fees in trying to liquidate a gold bullion bar. (especially if its gold from Thailand being sold overseas)

It's much more difficult and time-consuming to liquidate gold bullion in a single chunk than it is to sell the same amount of gold bullion in more convenient and tradable sizes like coins.

Basically there's little point to buying gold, especially in terms of one ounce coins, in Thailand with the expectation you're going to tote them somewhere else and sell them at a profit. Whether or not you want to call what you have "bullion" is largely irrelevant when you're dealing with such small amounts.

I have some two baht bars that I have bought over time simply as an emergency backup. I could just put the money in a savings account, but the gold bars are less likely to be spent on a whim, which might be the case with money sitting in an accessible savings account, but gold bars are nearly as liquid as cash in Thailand. The value of what I own is slightly more than I paid, but it probably hasn't kept pace with inflation. Each of the two baht bars is worth exactly the same if I choose to sell one in Thailand. Each has its weight and individual markings of the producer. Of course there is a handling commission as there would be if you were trading coins, often implicit in the bid/ask spread on gold pricing.

I also have a short collection of the US minted silver Walking Liberty coins. Each of those coins has the exact same amount of silver and, with minor differences, the same design. They differ in price from a few hundred dollars to several thousand dollars. They have each been slabbed, certified and graded by NGC or PCGS. The difference in price depends on their rarity and condition, not just the silver content. That would be true whether they were collectible, antique or modern, or just naked coins bought by the bag full.

If you buy gold or silver in coins, you're paying a premium to the melt value and whether they're US, Canadian, South African, Chinese or whatever, the premium to their melt value when you want to sell them is going to depend on their desirability, rarity and condition, all of which adds a subjective element to their selling price. As long as your dealing with a reputable dealer, you'll at least get the value of the gold or silver, but the premium depends on other factors that may or may not work to your advantage.

If you want to just speculate on the gold price you can buy paper gold in the form of ETFs traded on the NYSE. You can buy and sell at any time during business hours when the NYSE is open for a profit or a loss and don't have to haul the physical gold around with you. You can regard it as a short-term trade or a long term investment, but unless you're very knowledgeable or very lucky, there are better ways to make money.

Edited June 22, 2016 by Suradit69

[gk10002000]

If you are in the Los Angeles, California area when you want to do the USA transactions, there is a great shop not far from the LAX airport. CNI, California numismatics. They have a great selection of Canadian Maple Leafs, Krugerands, bullion, Silver, etc. Manchester Blvd as I recall

[Jamin123]

I'm arriving in Thailand next month. If you're still looking to buy, please contact me. 

The Korean Peninsula war will start soon, its time to move some cash into hard assets like gold. My retirement portfolio is mostly gold so I need to sell.

[boomerangutang]

Thanks Jamin123.  p.s. I hope you're wrong about a war starting.

[annabel]

On 6/21/2016 at 3:17 PM, snakebean said:

these guys in bangkok are the best ive bought from there heaps and wife is a gold lover said its the best

there called Hua Seng Heng

they are in china town bangkok

http://www.huasengheng.com/

The site is all in Thai and doesn't seem to have an English option...? Do you know if they have an English version??

[Ks45672]

5 hours ago, annabel said:

The site is all in Thai and doesn't seem to have an English option...? Do you know if they have an English version??

Google Translate

[annabel]

Thanks Ks ,,, but Google Translate is definitely not accurate and for something like this would need a clear translation ... but thanks anyway

[Airalee]

4 hours ago, annabel said:

Thanks Ks ,,, but Google Translate is definitely not accurate and for something like this would need a clear translation ... but thanks anyway

Unless you are buying “Thai Gold”, you might want to limit your buying and selling to your home country where real bullion in the form of bars and coins are traded.  On a whim, yesterday I visited 3 different gold shops (not the one with the listed website above) just to gauge their interest in a 1oz Valcambi bar (still in its sealed assay card) and a 1oz gold brittania.  The only interest was in the Valcambi bar and that was only by one shop.  The others had no interest.  He offered 20% less than spot price but I would be sure that if he were on the other side of the trade, he would have wanted spot + some premium.

 

YMMV

[Ks45672]

19 hours ago, annabel said:

Thanks Ks ,,, but Google Translate is definitely not accurate and for something like this would need a clear translation ... but thanks anyway

They're is not much to read anyway

 

A buy and a sell price is all that's important 

 

Open it in chrome and it translates automatically