Thailand

[Moocher]

Going to Thailand in January for a couple of months does anyone if it worthwhile buy silver whilst I am there

[MancunianStacker]

Probably not silver but gold chains and bracelets are usually 23-24k and sold by weight. 

This guys YouTube channel might be useful. I’ve not watched it all but Chinatown is definitely the place to go!! 

 

[Moocher]

Nice 1 appreciate that

 

[dicker]

Hi

I looked in Bangkok two months ago and whilst I could find lots of jewellery stores I could not find bullion coins or bars. Perhaps I was not looking in the right places?

The gold jewellery is well priced of that’s your thing.

I saw a very convincing scam....

May 2018 - I went into a jewellery shop with the intention of buying my wife a necklace.  There was an attractive late 40s well spoken English woman buying a huge diamond ring and saying how amazing the jewellery was and she had been using the shop for 15 years.  I didn’t have time to buy the necklace.

July 2018 - I returned to the same shop and guess what.....the same English woman was there telling the same story and did not recognise me 

just be careful!

 

 

 

[MancunianStacker]

6 minutes ago, dicker said:

Hi

I looked in Bangkok two months ago and whilst I could find lots of jewellery stores I could not find bullion coins or bars. Perhaps I was not looking in the right places?

The gold jewellery is well priced of that’s your thing.

I saw a very convincing scam....

May 2018 - I went into a jewellery shop with the intention of buying my wife a necklace.  There was an attractive late 40s well spoken English woman buying a huge diamond ring and saying how amazing the jewellery was and she had been using the shop for 15 years.  I didn’t have time to buy the necklace.

July 2018 - I returned to the same shop and guess what.....the same English woman was there telling the same story and did not recognise me 

just be careful!

 

 

 

As we see in the video, “Farrang” can own businesses in Thailand too. 👍

[fiveshotdon]

1 hour ago, dicker said:

Hi

I looked in Bangkok two months ago and whilst I could find lots of jewellery stores I could not find bullion coins or bars. Perhaps I was not looking in the right places?

The gold jewellery is well priced of that’s your thing.

I saw a very convincing scam....

May 2018 - I went into a jewellery shop with the intention of buying my wife a necklace.  There was an attractive late 40s well spoken English woman buying a huge diamond ring and saying how amazing the jewellery was and she had been using the shop for 15 years.  I didn’t have time to buy the necklace.

July 2018 - I returned to the same shop and guess what.....the same English woman was there telling the same story and did not recognise me 

just be careful!

 

 

 

You can buy bars in yaowarat, a lot of the stores in that area have perth mint signs in the windows. not sure what area you were in but this is the safest place to pickup gold in bangkok.

[Oystonousted]

Will have a mooch round when I go in a few weeks and report back 

Cheers

[Moocher]

Would appreciate that 👍

[dicker]

@fiveshotdon Many thanks will look next time I am in BKK!

[KitboyE17]

Is there a financial gain to buying gold in Thailand? 

[fiveshotdon]

Just now, KitboyE17 said:

Is there a financial gain to buying gold in Thailand? 

The jewellery is 23k and you pay very little premium over spot for the work. It’s very nice work. You can also pickup 24k investment jewellery.

[KitboyE17]

1 minute ago, fiveshotdon said:

The jewellery is 23k and you pay very little premium over spot for the work. It’s very nice work. You can also pickup 24k investment jewellery.

Thanx! I’ll bear it in mind 💰

[caloundracats]

Please share on your return to befit us all. Always good to get reliable recommendations.

[spanit]

Bangkok is a good place to buy gold, a little premium over spot, as said by members here. Mostly it is 96.5% purity gold. Gold chain is very attractive both on design and price.

You can find a lot of gold shops in China town and this is recommended place for buying. You can spot them easily, most of them are red. Buy and Sell spread is very low.

Contrary to other countries in the world, you can rarely find gold coin here. The treasury department presently does not mint the bullion (low premium over spot).

They mint only proof gold/silver coin and they sell coins themselves, no distributor/dealer.

[Oystonousted]

Currently in BKK and spent the evening in Chinatown. Main road is called Yaowaraat and on both sides there are plenty of gold shops. 

Visited a few and to be fair they are all a bit of a muchness. Vast majority of gold for sale is in the form of jewellery eg chains, bracelets, bangles etc. A did however see some gold bars ranging from approx 5g up to 1oz

I showed a few of them some pictures of silver coins eg Kooks etc and they shook their head straight away. One of the shops pointed me towards a shelf where they had some 1g lunar gold coins encapsulated into a gift card ( ATM card size) to give family for birthdays. They looked pretty cool and the designs of the 12 animals certainly didn’t look Mickey Mouse if you get my drift. He was asking around THB 1540 which at current exchange rate is approx £36 ( £1 = 42 THB)

A friend of mine has suggested I go to an area not far from Chinatown quite near Khao San Rd as he reckons they’ll sell silver round there. 

If i get chance I’ll check it out and report back. Traffic is a ballache round there 

Cheers 

[fiveshotdon]

I wouldn’t bother looking for investment silver in Thailand, they don’t really deal in it. When I told my girlfriend I stack the metal she gave me this confused look and asked why don’t I just buy gold.

also I definitely wouldn’t be buying anything around Khao san road except street food and Chang beer.

[Mkman123]

@fiveshotdon You are totally correct....in thailand people love gold and all the gold shops are busy, silver doesn't really sell well.

I know a american professor teaching in bkk and he mentioned there is actually a silver area in which all the stores sell silver and all. As for bullion bars, he said its a pain in the butt to get and they are not common.

[MancunianStacker]

Jewellery is lest suspect to cross borders with too. Anyone else see Panaroma tonight (gold bars and Dubai & big money laundering).