Jump to content
BANGKOK

Recommended Posts

Posted (edited)

I went to my small branch of Bangkok Bank in Pattaya today requesting to buy some gold bars for a 7 digit amount. They do not only not sell it, they told me that no bank in Thailand does. I should go to a gold shop. I went then to ICBC (being a non Thai bank) and they said the same.

 

But I neither trust a gold shop nor do I want to get "24 or 23 Karat" purity in Baht quantities. Required is the standard gold purity for gold bars in gram - which I would get right away in every bigger bank in Zurich. Obviously not in Thailand. But I can hardly believe it.

 

Can anybody confirm if this is true ? Or even better give some advice where I can buy some 100g gold bars from a trusted source with international standard purity, certificate etc. ? This is possible in Thailand - or is it not ?

Edited by moogradod
  • Like 1
  • Haha 1
  • Confused 1

Share this post


Link to post
Share on other sites
1 hour ago, Airalee said:

This is pretty much it when it comes to what you’re looking for.  Only deal in Kilos from what they told me over the phone.  But as you’re spending “7 digits”...no problem.

 

https://www.huasengheng.com/gold-bar/gold-bar-99-99

What you see in the pictures following your link is exactly what I am looking for. The only thing is that a 1kg bar cannot be split if you want to sell part of its value and this is therefore not a practical size. I understand that bars come in all kind of sizes, from a few grams up to around 12kg I think.

  • Confused 1

Share this post


Link to post
Share on other sites
1 hour ago, englishoak said:

Below is the best your going to get in Thailand re bars but they are 99.9% and i think look rather nicer than flat shapeless ones we are used to, they used to sell them in bht weight 1, 2, 5 or 10. Generally the big and busy shops are the best bet. As with all gold unless your an assayer your taking the usual chance when purchasing. I would only go to the best shops in Yaoworat Road, Chinatown that guarantee quality  for any gold bars or jewellery and have the royal seal of approval, Hua seng heng i believe is one and there are a few more, perhaps someone here might name the others.

 

 

Chinese gold ingots | Chinese New Year | Pinterest

These "bars" look nice - somehow exotic like from hundreds of years ago. But the question remains if they are real throughout and what the gold content is. These ugly bars we Europeans are used to have an identification - might be a bit safer when acquiring - but a bar is quite easy to fake I suppose even taking its relative density into account so it comes down to the trust you have in the supplier anyway.

Share this post


Link to post
Share on other sites
8 minutes ago, moogradod said:

What you see in the pictures following your link is exactly what I am looking for. The only thing is that a 1kg bar cannot be split if you want to sell part of its value and this is therefore not a practical size. I understand that bars come in all kind of sizes, from a few grams up to around 12kg I think.

They do...but from what I understand, you can only get the kilo bars here.  I suppose they are practical if you’re a billionaire...not so much for us.  I’ve never seen a 1oz Pamp here in Thailand.  Only the big boys get to play with the globally recognized stuff.  The rest of us are limited to Thai gold.

  • Thanks 1

Share this post


Link to post
Share on other sites
Posted (edited)
17 minutes ago, Airalee said:

They do...but from what I understand, you can only get the kilo bars here.  I suppose they are practical if you’re a billionaire...not so much for us.  I’ve never seen a 1oz Pamp here in Thailand.  Only the big boys get to play with the globally recognized stuff.  The rest of us are limited to Thai gold.

I see. Again one thing that you think of as being standard and you not even think about it in Switzerland but buying a globally standardized medium sized gold bar seems impossible here. This is really amazing. I stopped thinking about why this could be.

 

So no gold bar for me it seems. Stick with the gold jewellery of my wife - even this one I do not understand completely. Is it now 24 Karat or 23 Karat 🤨 ?

Edited by moogradod
  • Like 1

Share this post


Link to post
Share on other sites

I believe those "Chinese bars" are represented in the shape of a hat, or possibly boat probably high ranking or something... apparently this used to be a common bar shape in the later Qing dynasty when trading in silver for opium  with the British. we gave China all our silver for tea then got it back by selling it opium, I have an old silver lovely tarnished kilo Chinese Bar from that era. 

 

Re price in the West. I  at least have never had a problem getting full market price quotes for Chinese gold bars from select Thai gold shops in the UK. The places I use are well versed in global stamps and the ones who they trust ... caveat of course its not 100% but a royal seal approval in a gold shop is as good as your going to get outside a mint. Ive seen millions transacted in visits like it was no big deal and Asians with serious money when it comes to gold are not stupid. Plus there is a gold council in Thailand with registration and licencing. Plus there are authority spot check and licenced shops do purchase and regularly test the competitions jewellery and items quality, if any error or flaw is found its reported most loudly to the appropriate authorities and council  and where possible used to destroy said competition. imo those shops trusted and with the highest quality and guarantee awards would not imo ruin for a relatively small amount their reputation of 100 years + trading. This only applies to the best shops though... 

 

Having said that my rule is, If in doubt dont purchase. 🙂

  • Like 1

Share this post


Link to post
Share on other sites
12 hours ago, moogradod said:

What you see in the pictures following your link is exactly what I am looking for. The only thing is that a 1kg bar cannot be split if you want to sell part of its value and this is therefore not a practical size. I understand that bars come in all kind of sizes, from a few grams up to around 12kg I think.

Alternatively, take a look at YLG Bullion, one of the largest bullion dealers in Thailand. They have alternative size gold bars:

https://www.ylgbullion.co.th/en/gold-99-99

  • Like 1

Share this post


Link to post
Share on other sites
10 minutes ago, mark5335 said:

Alternatively, take a look at YLG Bullion ... They have alternative size gold bars:

 

They appear to be very alternative.  Apparently for them 1 oz = 31.1034768 grams.  (It's actually ~28.35 g.)

  • Haha 1
  • Sad 1

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

  • Recently Browsing   0 members

    No registered users viewing this page.

×
×
  • Create New...