Buying Gold....

[bucknaway]

I am not much for trinkets and bobbles but I am now looking for a way hold onto the value of my savings and gold seems to be the best choice as the USA prints more dollars and buys it's own debt like there is no tomorrow causing the Dollar to become weaker and weaker.... I am considering the purchase of Gold when I visit Thailand in the ballpark of $10 or $20 Thousand USD but I have some questions.

If I have $10,000 in Thai Gold while here in the USA, who could I sell it to at a later time to get a fair price once I am ready to cash-out my investment?

My other question is if there is a reputable sales shop for a guy to buy gold? Keeping in mind that the guy would not know fools gold from the real thing.

My last question is if it would be better to invest in Gold Certificates rather than having the solid precious metal in my hot little hands? And if Certificates are the ticket, where would be the best place to buy?

Sigh.... And I use to laugh at MrT. :crybaby:

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http://www.moneyweek.com/investments...esting-in-gold

If you are seriously going to invest that much money talk to a professional.
There are lots of ways to invest in gold but I don't think buying gold in Thailand to bring back to the US is a particularly good one.

[francois]

First of all, why not buy the gold in the US? The price is the same no matter where you buy it in the world. Try http://www.usagold.com for info on gold coins. $50 gold coins(1 oz) issued by the US Mint, and legal tender, may be bought at any coin shop in the USA. There is a difference/margin in price/oz for gold bought and gold sold.
If you do buy gold in Thailand you may have a problem; anything over $10,000 USD should be declared upon your return to US.
Gold certificates are an option and are easier to trade but I have no direct knowledge regarding them.Gold is at an all time high at $1500 USD/oz; maybe it will go higher or lower? My experience over past 35 years is to hang on to it and the price will eventually increase.

[ikarus]

I am not much for trinkets and bobbles but I am now looking for a way hold onto the value of my savings and gold seems to be the best choice as the USA prints more dollars and buys it's own debt like there is no tomorrow causing the Dollar to become weaker and weaker.... I am considering the purchase of Gold when I visit Thailand in the ballpark of $10 or $20 Thousand USD but I have some questions.

If I have $10,000 in Thai Gold while here in the USA, who could I sell it to at a later time to get a fair price once I am ready to cash-out my investment?

My other question is if there is a reputable sales shop for a guy to buy gold? Keeping in mind that the guy would not know fools gold from the real thing.

My last question is if it would be better to invest in Gold Certificates rather than having the solid precious metal in my hot little hands? And if Certificates are the ticket, where would be the best place to buy?

Sigh.... And I use to laugh at MrT. :crybaby:

Taking Gold out of Thailand is technically speaking illegal. Thus if you take it in the form of bars or coins (as e.g. sold in various shops in BKK China town)it can easily put you in jail. By the way, bringing Gold to Thailand in the same form is subject to very high taxes and therefore can be confiscated by customs upon arrival.

[thonglor55]

You need to know what you're doing if you buy gold here. Most of the chains and so on that Thai boys (or their patrons) buy in gold shops are usually 9-carat in quality, as my Australian friend found out to his horror when he took one to a gold shop in his home country to be repaired (they said they didn't have any gold of such a poor quality to effect such a thing)

[francois]

. By the way, bringing Gold to Thailand in the same form is subject to very high taxes and therefore can be confiscated by customs upon arrival.

Can you provide more info on this? Someone asked that I bring some US gold coins to thailand for them. It is legal tender in the US so just how would it be confiscated? Sure would not want to make a mistake in this regard.

You need to know what you're doing if you buy gold here. Most of the chains and so on that Thai boys (or their patrons) buy in gold shops are usually 9-carat in quality, as my Australian friend found out to his horror when he took one to a gold shop in his home country to be repaired (they said they didn't have any gold of such a poor quality to effect such a thing)

Hi,


If the above is true, I will be shocked as the red and gold signed up shops in Thailand sell mainly the really yellow Thai/Indian soft gold and when Tam, my partner, has ever taken it back to the shop he has recovered up to 90% of its purchase value, you can't do that with second hand 9 carat gold as a rule in Europe as they give you only scrap metal value?????

I would be very keen to know more on this please.

[ikarus]

. By the way, bringing Gold to Thailand in the same form is subject to very high taxes and therefore can be confiscated by customs upon arrival.

Can you provide more info on this? Someone asked that I bring some US gold coins to thailand for them. It is legal tender in the US so just how would it be confiscated? Sure would not want to make a mistake in this regard.

I have a friend who tried to bring Gold coins in Thailand (quite substantial amount) and they were confiscated by customs.
More precisely, they suggested him to pay dues in the amount which exceeded the value of the coins...
There had been recently some changes in import and export procedures regarding Gold bullion In Thailand. But I would not take any chances in bringing Gold coins over there...

[quote="ikarus"
I have a friend who tried to bring Gold coins in Thailand (quite substantial amount) and they were confiscated by customs.
More precisely, they suggested him to pay dues in the amount which exceeded the value of the coins...
There had been recently some changes in import and export procedures regarding Gold bullion In Thailand. But I would not take any chances in bringing Gold coins over there...[/quote]


ikarus,

Very wise,

Don't give them a chance to confiscate anything, the LAW has nothing to do with it, they make it up!..

[Beachlover]

I've never bought gold in Thailand before but there are lots of gold shops in the Chinatown area of Bangkok and some are apparently reputable... Do your research.

Taking Gold out of Thailand is technically speaking illegal. Thus if you take it in the form of bars or coins (as e.g. sold in various shops in BKK China town)it can easily put you in jail. By the way, bringing Gold to Thailand in the same form is subject to very high taxes and therefore can be confiscated by customs upon arrival.

Can you provide more info on this? Someone asked that I bring some US gold coins to thailand for them. It is legal tender in the US so just how would it be confiscated? Sure would not want to make a mistake in this regard.

Francois... It's wise to do your research before transporting any significant amount of gold across borders. Moving gold across borders is subject to various taxes and laws. You can lose a lot of money or get into a lot of trouble for infringements.

By the way, Banged Up Abroad had an episode about a Brit who was sentenced to jail for a few years for gold smuggling between Hong Kong and Nepal...

Download here: http://www.fileserve.com/file/PxGySbj/B ... .Nepal.avi

Watch the first part here:

[youtube:1671boit]http://www.youtube.com/watch?v=7vcyyCUTb14[/youtube:1671boit]