THAILAND GOLD BUY SELL TRADE
WHERE TO BUY THAI GOLD IN BANGKOK. WHERE TO TEST THAI GOLD
WHY BUY THAILAND GOLD
Hua Seng Heng GOLD SHOPS note the sign above the road.
Hua Seng Heng GOLD SHOPS note the sign above the road.
In Thailand all Thai Baht gold chains, Thailand gold rings, thai gold necklaces, thai gold earrings and thai gold bracelets and other Thai Baht gold jewelry items are named as " THAI BAHT GOLD " . Yes Thailand gold is known and recognized the world over as 96.5% pure gold by product weight (23K) making it one of highest gold content jewelry products produced anywhere in the world today. Thailand Gold jewelry's - Thai Baht gold jewelry is always sold by actual product weight, in a weight unit known as "Baht", which is approximately 1/2 ounce or 15.16 grams. In August 2018 it hit $1200 per troy ounce & December 2018 $1236. as the US $ is not a good currency no more and people realize gold is it.
Old Thailand was once called Siam and this means gold in Sanskrit. The Chinese called Thailand as Jin lin, which means "peninsula of gold". China town is situated in one of the oldest areas of Bangkok. Originally, it was settled up by Chinese traders who came by junks to trade with Siam during the Sukhothai era. After 1891, King Rama V opened up this area which is now Songwat Road, Phatsai Road, Anuwong Road and Yaowarat Road. In Thailand some jewelry is 14kt which is the typical “American standard (some “high-end” US jewelry is 18kt or .750 gold (75% pure gold) 18kt gold not here in Thailand.). There are 24 karat(s) in pure gold so 14kt/24kt = .585, thus 58.5% of the item of jewelry is gold and the remaining 41.5% is an “alloying metal” such as copper/silver/zinc, etc.
Thailand Gold Jewelry and other gold objects functions as a security to many Thais in case of difficult times. The gold can be pawned anywhere in Thailand at proper pawn or gold shops then you can buy back when you have funds again and maybe lose 1%. Its great security and the best monetary value the world over.Use this Formula: weight + fabrication fee. Each item has a paper tag and there are two numbers, one represents the weight, usually in grams (occasionally as “Baht.” Note: 1 baht = 15.16 grams of pure gold, though in fabricated form 1 Baht of pure gold would weigh 15.22 grams, the difference being the alloying metals) and the other item on the tag is the cost to “make the item.” So when asking for a price one must ask for the price will include the manufacturing cost.
CHECK OUT THE LATEST GOLD
2 DAY SCHEDULE OR 48 HOURS
Where to buy GOLD in Bangkok: At Yaowarat Road in Chinatown
There are many bad shops elsewhere but the Chinese are excellent in Yaowarat Rd & will not rip you. But again caution prevails and watch out for new shops opened as they may copy the older ones & sell bad gold product lines short of weight and purity.There ar emany who want to get in on the action.
COMPARE A COIN WEIGHING THE SAME
An American quarter (quarter dollar is a 25 cent piece) is consistent in weight at 5.67grams. Check the exact weight of a coin of your currency and you can use this to make sure that the quoted weight of the item is precise relative to the coin of known weight. 1 Baht of pure gold would weigh 15.22 grams, the difference being the alloying metals
All that glitters is not gold
Known as the "gem capital of the world," Bangkok attracts millions of visitors each year, many coming for high quality, relatively cheap gemstones and jewelery, created by master craftsmen.
While Thailand's gem retailing sector is closely supervised by government and industry organizations, authorities seem unable to stop scores of elaborate "stings" on the streets of Bangkok every day. The target: tourists, and the con is so convincing that hundreds of holiday-makers each year spend thousands of dollars on gems that are often worth little more than colored glass.
Thailand has long been recognized as one of the world's major gem and jewelery centers. High-grade sapphires and rubies are mined in the north and, because import and export duties are exempted on raw and cut stones, gems are sent to Thailand from all over the world for cutting. From humble beginnings as a cottage industry, the gemstone sector is now one of the country's top ten foreign exchange earners, bringing in almost $2 billion in revenue a year.Many tourists looking for a good deal however, are duped by unscrupulous con artists, returning home with low-grade gemstones worth a fraction of the price paid. The Tourist Authority of Thailand (TAT) receives more than 1,000 complaints a year concerning irregular jewelery purchases, and the numbers keep rising.
JEWELRY SCAMS IN BANGKOK BEEN AROUND FOR YEARS
While the gems themselves are not fakes, the prices at which they are sold vastly exceed their true value. Many visitors are persuaded to send their purchases home by mail, so that even if they realize they have been duped they can't do anything about it. When the scam is discovered, authorities often appear unwilling or unable to help in these cases: fill in the "Jewelery Complaint Form" and become a statistic.
I had been forewarned about these gem scams, having met Sam, a young man from Melbourne, who had spent $2,000 on gems that turned out to be worth a fraction of the price. Even so, when I found myself in the middle of a well-planned scheme to unburden of me of my tourist dollars, the ploy was so subtle and skilfully executed that I wondered for a while if I was just being paranoid.
With only two days in Bangkok, my husband and I were keen to visit the Grand Palace with its opulent gold temples, bejeweled and mirrored walls, and rich interiors. Arriving a short distance away, we were met by a pleasant looking university "professor" who told us that the Palace was shut for a few hours. He suggested we visit some other wats (temples) before returning to the Palace later, and on the way we could stop into the 'Thai Government Export' center to do some shopping.
He even made sure that we received a good deal from a tuktuk driver who would drive us around for only $1 - a bargain!
At the first wat, we met a young Thai man who struck up conversation with us. After several minutes of coincidence after coincidence (we were English and his friend from England was arriving later that day; the temple was rarely open to the public but was opening for a ceremony in just a few hours), he began to talk about the Thai Government Export center. He had, he said, been there just that morning and bought some beautiful gems at a really good price. He was going to sell them when he traveled abroad in a few weeks, and would pay for his holiday and more!
Alarm bells were ringing, but we decided to play along, not making his job easy. After ten minutes or so we were apparently not taking the hint, and in a last ditch effort to convince us of the riches we could make, he claimed he had sold gems to Tiffany's of Bond Street in London the previous year at an enormous profit. Sam experienced a similar set up, but he'd been much easier to convince. "I was so taken in that I asked the man I met whether he would accompany me to the shop to show me which gemstones I should buy," he said. "Once there I met another tourist-a Swedish guy who was buying a lot of sapphires.
Now I realize that he was in on it too. He said he made the trip every year, and made enough money to pay for his holiday and have plenty left over. I spent $2,000-way more than I could afford-on stones that turned out to be worth much, much less."
Attempts by authorities to shut down rogue jewelery shops are limited. The Bangkok Post recently reported that gold and jewelery shops that did not comply with labelling regulations had been shut down, only to open again under different names. The scam is convincing because the conmen use facts in their web of deceit. Our man mentioned that the gems were sold as part of a tourist promotion called "Amazing Thailand." A promotion of this name was, in fact, run by the Tourist Authority of Thailand, but had nothing to do with gems or jewelery.
He also mentioned that we would not have to pay export tax on the gemstones, which would increase our overall profit. The "Thai Government Export Center" was an adaptation of the Department of Export Promotion's bi-annual trade fairs, held in conjunction with Thailand's trade associations to showcase the country's top products.
There are no government gem shops, although reputable shops will be members of the Thai Gem and Jewelery Traders Association.
A spokesperson for TAT says, "Buying gems or jewelery to resell at double or triple the purchase prices is an impossible proposition under any circumstances. Buy jewelery only for personal satisfaction, for your own use or for loved ones."
Because we were not in Bangkok to shop, I don't think we would ordinarily have bothered going to the jewelery shop. Having worked out what was going on, though, we were curious as to how the story would end. It was to be the next stop on our tour and the tuktuk driver obviously knew the owner of the shop well. The owner spoke good English, and was polite and friendly.
It wasn't exactly a hard sell; we were shown a number of gemstones and pieces of jewelery, and told at great length about the possibilities of selling them abroad for four or five times the amount. But once we had declined his offers of buying in bulk, and settled instead for a small sapphire ring, we completed the transaction quickly and left. The ring may be worth less than I paid-I don't know-but as with all such sales, to me it is worth what I paid. Probably because we did not spend a lot of money in the store, the tuktuk driver suddenly vanished, and so ended our impromptu tour of Bangkok.
The Australian Department of Foreign Affairs and Trade; USA Embassy; NZ & UK Embassy and many more advise that visitors to Bangkok not accept unsolicited approaches to assist with various services, particularly for assistance with shopping for jewelery and gems, and recommends that tourists who are approached by such offers, seek advice from their hotel or TAT or just say NO THANKS.
As one traveler says: "You won't get scammed if you're not out to save a buck or make a buck. Just be a tourist-pay for what you want-and enjoy the sights."
Central banks are the most responsible for creating this system thanks to their fiat currency system. Since the introduction of the euro, monetary inflation has been exceeded 10% per year. A lot of people don't know it, but monetary inflation is the real, true inflation so think about your future & buy gold& silver while its low???.
Above pic is a typical Gold shop in Chinatown. There are many.
To buy SILVER BARS IN BANGKOK
or TRY KITCO
If you are unsure of a gem shop in Bangkok contact the Tourism Assistance Center, Tourism Authority of Thailand, Le Concorde Building, 202 Ratchadapiser Road, Bangkok 10310. Tel: 694-1222, ext. 1090-1094, or the Thai Gem and Jewelery Traders Association, 942/152 Charn Issara Tower, 15F, Rama 4 Road, Bangkok 10500. www.tgjta.com , email email@example.com or telephone 02-267-5233-6.
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