Bringing gold coins to Thailand

[soi6 0]

I was wondering if anyone had ever brought with them gold coins (Kugerands) to Thailand. Know there is a 10k limit on value one can bring, but is there any advice here on brining them into thailand as an emergency stash. Is it legal? Are they readily accepted for baht at a good selling price there, can one get a secure safety deposit box in a legitimate bank and not have to worry about the contents getting looted?

 

With the economy in the world the way it is I've been thinking more about liquidating more stocks and buying gold/silver coins to put away as a hedge against inflation/dropping USD prices. Any thoughts on this guys?

 

Cheers,

SHane

[js007 795]

Surely, you can bring gold into Thailand in some amount. But where do you store it? Renting a safe deposit box may not be so easy?

 

You might be better off wiring money into Thailand and buying some Thai gold jewelry.

[ttk 236]

If your plan is to move to retire and move to Thailand, I would stick with Thai gold. That can be sold at any shop whereas gold coins could be hard to get rid of.

[JohnnyK 28]

Real gold is worth more. Coins are for numismatists. That said, why bring them to Thailand? Who wil buy them when real gold is available every 100m? I doubt Thais will buy them, they perceive gold as gold and coins as money.

[MM 6,562]

Real gold is worth more. Coins are for numismatists. That said, why bring them to Thailand? Who wil buy them when real gold is available every 100m? I doubt Thais will buy them, they perceive gold as gold and coins as money.

I sold 2 Canadian Maple Leaf coins at

MORE than the baht weight due to the higher purity of the gold coins.

A good gold dealer knows their stuff regarding purity and gold content.

Unfortunately, at the time, gold was only 8000 baht per baht weight!

They were quite happy to take them.

[joekicker 53]

I sold 2 Canadian Maple Leaf coins at

MORE than the baht weight due to the higher purity of the gold coins.

 

True. You can definitely sell gold *as gold* content in Thailand and get proper world prices. The fact it's Krugerands or grandma's ring or Captain Kidd's treasure doesn't matter to gold buyers - who know their stuff for sure. In fact, that's possibly important to the OP, that his Krugerands are essentially worthless *as Krugerands*. Thais and Thai gold shops don't want them - even the colour is yucky. But the shops will buy them and melt them.

 

You can get very fair prices on silver in Thailand, too - often at gold shops but there's a string of silver shops in Yaowaraj (Chinatown) in Bangkok.

 

.

[Regyai 415]

Coins or in fact standard western (99.9%) bullion is not the norm here in Thailand, and as such you will have to seek out a willing buyer. I'm not saying there arn't any but it will be leg work compared to Thai gold which is more like cash and accepted in the gold shops (which as pointed out earlier are just a little less prevalent than 7-11's ).

 

As an aside, Thai gold being under the 99.9% interestingly circumvents many customs regulations elsewhere regarding bullion as it is classed as 'jewellery'.

 

If you want a 'stash' in Thailand turn money to gold in country would be my advise

 

 

 

 

 

.

[JohnnyK 28]

I sold 2 Canadian Maple Leaf coins at

MORE than the baht weight due to the higher purity of the gold coins.

A good gold dealer knows their stuff regarding purity and gold content.

Unfortunately, at the time, gold was only 8000 baht per baht weight!

They were quite happy to take them.

Interesting, I never knew that. Note to self: Never assume etc.

[wacmedia 277]

 

Unfortunately, at the time, gold was only 8000 baht per baht weight!

 

 

Hi,

 

Those fiat currency guys must be pulling their hair out.

 

THAI GOLD PRICE TODAY

 

24 October 2011

 

Buy: ฿24050

Sell: ฿24150

[lovedog100 1,372]

I was wondering if anyone had ever brought with them gold coins (Kugerands) to Thailand. Know there is a 10k limit on value one can bring, but is there any advice here on brining them into thailand as an emergency stash. Is it legal? Are they readily accepted for baht at a good selling price there, can one get a secure safety deposit box in a legitimate bank and not have to worry about the contents getting looted?

 

With the economy in the world the way it is I've been thinking more about liquidating more stocks and buying gold/silver coins to put away as a hedge against inflation/dropping USD prices. Any thoughts on this guys?

 

Cheers,

SHane

 

Shane, it is legal to bring gold into Thailand. However I would rethink bringing coins. Gold bars are better in Thailand, if bought from the states. In the states you are paying a premium for the coin. An American eagle is 22k yet sells for more money in the states than a Maple leaf that is 24k. In Thailand they will only be looking at the gold content, they don't care if it's a coin, or bar. The Maple Leaf would be worth more than the American Eagle here. You can buy gold bars in the states cheaper than the same weight coin. In Thailand, if both were 24k, they would buy them at the same price. A Krugrrand is 22k by the way.

 

If you are looking to buy gold to bring to Thailand, coins are typically above spot price of gold. Bars are usually sold at spot price, which is what you are going to get selling in Thailand. Of course, if you already have the coins, selling them to buy bars will get you nothing, because every place has a buy and sell price, you lose on the sell price. If you have coins like the Canadian Maple Leaf, or the Chinese Panda, it would be better to bring them, than Krugrrands or American Eagles because of the gold content. http://www.ajpm.com/gold-bullion.html

[9cisco999 107]

Shane, it is legal to bring gold into Thailand. However I would rethink bringing coins. Gold bars are better in Thailand, if bought from the states. In the states you are paying a premium for the coin. An American eagle is 22k yet sells for more money in the states than a Maple leaf that is 24k. In Thailand they will only be looking at the gold content, they don't care if it's a coin, or bar. The Maple Leaf would be worth more than the American Eagle here. You can buy gold bars in the states cheaper than the same weight coin. In Thailand, if both were 24k, they would buy them at the same price. A Krugrrand is 22k by the way.

 

If you are looking to buy gold to bring to Thailand, coins are typically above spot price of gold. Bars are usually sold at spot price, which is what you are going to get selling in Thailand. Of course, if you already have the coins, selling them to buy bars will get you nothing, because every place has a buy and sell price, you lose on the sell price. If you have coins like the Canadian Maple Leaf, or the Chinese Panda, it would be better to bring them, than Krugrrands or American Eagles because of the gold content. http://www.ajpm.com/gold-bullion.html

 

 

 

Doesn't bullion need to be assayed as opposed to coins being accepted for their manufactured weight (value)?

 

A friend recently raveled to Canada from the States by car. he was asked to go to the secondary inspection where they learned he had gold coins. Initially he was asked why he failed to declare them since they has value. He told them the car he was driving had value but he didn't declare it either. They let him go on his way after they determined the gold coins were considered bullion so he was not over the 10K limitation for declaration.

 

[chuckrivera 1]

Shane, it is legal to bring gold into Thailand. However I would rethink bringing coins. Gold bars are better in Thailand, if bought from the states. In the states you are paying a premium for the coin. An American eagle is 22k yet sells for more money in the states than a Maple leaf that is 24k. In Thailand they will only be looking at the gold content, they don't care if it's a coin, or bar. The Maple Leaf would be worth more than the American Eagle here. You can buy gold bars in the states cheaper than the same weight coin. In Thailand, if both were 24k, they would buy them at the same price. A Krugrrand is 22k by the way.

 

If you are looking to buy gold to bring to Thailand, coins are typically above spot price of gold. Bars are usually sold at spot price, which is what you are going to get selling in Thailand. Of course, if you already have the coins, selling them to buy bars will get you nothing, because every place has a buy and sell price, you lose on the sell price. If you have coins like the Canadian Maple Leaf, or the Chinese Panda, it would be better to bring them, than Krugrrands or American Eagles because of the gold content. http://www.ajpm.com/gold-bullion.html

 

Sure?

 

[quote

]Prohibited (without licence):

 

2. Gold bullion. Moreover it must be declared on arrival and can, if no import licence is available, be left in Customs bond at the airport of entry to be retrieved on departure.

 

 

From:

 

http://www.iatatrave...t%20regulations

[joekicker 53]

It is illegal to import or export gold bullion -- without a licence that is, which individuals can't get. All other gold and specifically what the law calls "jewellery" is legal. Jewellery specifically means the "24-karat" gold chains, bracelets and such that are made in Thailand. So you can carry "pure" gold around your neck or wrist, say, but NOT in bars in your hand.

 

In AND out of Thailand, basically the same rule.

 

.

[soi6 0]

Thanks for the advice guys. Joe's advice seems to conflict with others saying is ok to bring gold coins in. I didn't know about the canadian coin value either, maybe i'll rethink my strategy. I was looking at Kugerands as being a highly portable way to travel with money that is usable globally, but if they aren't able to be brought into Thailand and the 24carat value of the Canadian coins worth more that is something to consider.

[joekicker 53]

Thanks for the advice guys. Joe's advice seems to conflict with others saying is ok to bring gold coins in.

 

???

 

Joe's advice is you can bring gold coins in. You can bring lots of gold stuff in.

 

Rather than list every possibility (gold goblets are okay, gold belt buckles are fine, wedding rings are okay, gold tyre hubcabs are permitted, solid gold computer cases are legal, gold cigarette cases are permitted, gold cigarette lighters are ....) Joe's advice was and is exactly specifically that you can NOT legally bring in or take out bullion. Period. Joe's advice is sooooo simple.

 

.

Edited October 24, 2011 by joekicker

[Grandpollo 366]

Real gold is worth more. Coins are for numismatists. That said, why bring them to Thailand? Who wil buy them when real gold is available every 100m? I doubt Thais will buy them, they perceive gold as gold and coins as money.

 

Kruggerands, Canada Maple Leaf, Pandas aren't coins for collectors, they are coins for investment by weight in .999 or .9999 gold.

 

I think they would be easier to sell for spot price more than an ingot which absent an assay certificate is going to need assay.

 

There is a small premium over spot to buy the coins. Maple Leaf gold coins are really close to being the "gold standard" for gold bullion in smaller quantities.

 

As pointed out the US Gold Eagle is 22K, or 92% gold roughly the same as Thai "Baht Gold".

 

You can get an idea of forms and costs of gold here

 

http://www.scotiamocatta.com/eStore/index.htm

 

Actually if you can secrete the coins well enough to avoid theft and discovery, 3 Maple Leaf coins would be a good $5,000 stash for emergencies in not much space and convertible to cash anywhere especially in Asia.

Edited October 25, 2011 by ricktoronto

[MM 6,562]

???

 

Joe's advice is you can bring gold coins in. You can bring lots of gold stuff in.

 

Rather than list every possibility (gold goblets are okay, gold belt buckles are fine, wedding rings are okay, gold tyre hubcabs are permitted, solid gold computer cases are legal, gold cigarette cases are permitted, gold cigarette lighters are ....) Joe's advice was and is exactly specifically that you can NOT legally bring in or take out bullion. Period. Joe's advice is sooooo simple.

 

.

This brings up the question, what is gold bullion? Google shows http://www.google.com/search?q=gold+bullion+images&site=images&tbm=isch&biw=320&bih=508#p=0

[lovedog100 1,372]

Not to argue with Joe. However I checked before coming to Thailand my first time, and again when I came to live. I could find nothing that did not allow gold, other than the value of the gold is counted against the $10,000 allowed to take out of the US and into most countries. I was specifically looking for gold coin not bars. It was after I got here that I found that coin was not worth more than bars in Thailand, even though I had paid more for coin in the US.

 

http://www.customs.go.th Quote:

"The travelers who bring in or out of Thailand of foreign currency, both a bank note and a coin, with the total aggregate value exceeding USD 20,000 or its equivalent has to report the Customs Department by submitting the following document to Customs officer :

 

1. A completed Foreign Currency Declaration Form;
2. A passport; and
3. A boarding Pass.

There is no limit to the amount of foreign currency you can bring in or out of Thailand. However, you must declare it to Customs if you carry foreign currency with aggregate amount exceeding USD 20,000 or its equivalent."

 

I see nothing on Prohibited and Restricted Goods http://www.customs.g...andrestrictions

 

In the case of the Canadian Maple leaf, it designated is a 50 dollar coin. I wouldn't want to try it, but I think a case could be made that bringing in 20 of them would have a face value of 1,000 dollars and not even have to be declared. Even though the gold today would be worth $32,820 Read further down, Wikipedia seems to agree. I have traveled all over Asia with a Maple Leaf in the coin pocket of my Levi's. I threw it in the scanner with my watch and other coins at the airport. Never once was it questioned. I was in and out of Thailand several times with that coin as well as the US. The one time I got a secondary search, was in SFO, they didn't even blink at the sight of the gold coin.

 

Wikipedia: Although nominally issued as legal tender, these coins' face value as currency is far below that of their value as bullion. For instance, Canada mints a gold bullion coin (the Gold Maple Leaf) at a face value of $50 containing one troy ounce (31.1035 g) of gold—as of May 2011, this coin is worth about $1,500 CAD as bullion.^[3] Bullion coins' minting by national governments gives them some numismatic value in addition to their bullion value, as well as certifying their purity.

 

South Africa introduced the Krugerrand in 1967 to cater to this market; this was the reason for its convenient and memorable gold content — exactly one troy ounce. It was the first modern, low-premium (i.e. priced only slightly above the bullion value of the gold) gold bullion coin. Bullion coins are also produced in fractions of an ounce – typically half ounce, quarter ounce, and one-tenth ounce. Bullion coins sometimes carry a face value as legal tender, The face value is minted on the coin, and it is done so in order to bestow legal tender status on a coin, which generally makes it easier to import or export across national borders, as well as subject to counterfeiting. However, their real value is measured as dictated by their troy weight, the current market price of the precious metal contained, and the prevailing premium that market wishes to pay for those particular bullion coins. The face value is always significantly less than the bullion value of the coin. Legal tender bullion coins are a separate entity to bullion gold. One enjoys legal tender status, the latter is merely a raw commodity. Gold has an international currency code of XAU under ISO 4217. ISO 4217 includes codes not only for currencies, but also for precious metals (gold, silver, palladium and platinum; by definition expressed per one troy ounce, as compared to "1 USD") and certain other entities used in international finance, e.g. Special Drawing Rights.

Edited October 25, 2011 by lovedog100

[jacko 8,813]

???

 

Joe's advice is you can bring gold coins in. You can bring lots of gold stuff in.

 

Rather than list every possibility (gold goblets are okay, gold belt buckles are fine, wedding rings are okay, gold tyre hubcabs are permitted, solid gold computer cases are legal, gold cigarette cases are permitted, gold cigarette lighters are ....) Joe's advice was and is exactly specifically that you can NOT legally bring in or take out bullion. Period. Joe's advice is sooooo simple.

 

.

What about a heavy lace trimming made of twisted gold or silver threads?

[joekicker 53]

This brings up the question, what is gold bullion?

 

Bars. Ingots. Whatchamacallits. Gold that isn't MADE into anything but is in a solid form. What gold people "make" when they melt gold down. As stored in Fort Knox (heh) etc. Like that. If you take a solid gold bar and twist it and put it around your wrist, it's not bullion any more. Like that.

 

If you google "gold smuggling thai" or similar, you'll probably get a lot of the little stories that hit Page 7 in the Thailand newspapers. Singaporeans are reputed masters of (getting caught while) smuggling gold into Thailand. They have big canvas corset-belts made up with 50 or 100 little pockets for gold bars. These days, sigh, lot of Africans get caught, especially crossing in from Cambodia.

 

"The travelers who bring in or out of Thailand of foreign currency, both a bank note and a coin, with the total aggregate value exceeding USD 20,000 or its equivalent has to report the Customs Department by submitting the following document to Customs officer :

 

No, the key word here for this law is "currency". It does NOT include credit cards, personal cheques, etc - or gold. Different law. There is NO LIMIT on the import or export of legal gold. You can carry 50 pounds of gold in your 50-pound suitcase airline limit if that's your thing - but not a single one-ounce gold bar. The value of the gold is not relevant, only its form.

 

I've never heard of anyone smuggling gold coins. I think that's because you can't smuggle them. "Bank note and a coin" refers to actual dollar (say) bills and actual (say) quarters and dimes. Nothing else.

 

What about a heavy lace trimming made of twisted gold or silver threads?

 

Yes, definitely. A heavy lace trimming made of silver threads would not count as gold bullion. Good one.

 

.

Edited October 25, 2011 by joekicker

[lovedog100 1,372]

Bars. Ingots. Whatchamacallits. Gold that isn't MADE into anything but is in a solid form. What gold people "make" when they melt gold down. As stored in Fort Knox (heh) etc. Like that. If you take a solid gold bar and twist it and put it around your wrist, it's not bullion any more. Like that.

 

If you google "gold smuggling thai" or similar, you'll probably get a lot of the little stories that hit Page 7 in the Thailand newspapers. Singaporeans are reputed masters of (getting caught while) smuggling gold into Thailand. They have big canvas corset-belts made up with 50 or 100 little pockets for gold bars. These days, sigh, lot of Africans get caught, especially crossing in from Cambodia.

 

 

 

No, the key word here for this law is "currency". It does NOT include credit cards, personal cheques, etc - or gold. Different law. There is NO LIMIT on the import or export of legal gold. You can carry 50 pounds of gold in your 50-pound suitcase airline limit if that's your thing - but not a single one-ounce gold bar. The value of the gold is not relevant, only its form.

 

I've never heard of anyone smuggling gold coins. I think that's because you can't smuggle them. "Bank note and a coin" refers to actual dollar (say) bills and actual (say) quarters and dimes. Nothing else.

 

 

 

Yes, definitely. A heavy lace trimming made of silver threads would not count as gold bullion. Good one.

 

.

The way I read it, the OP can bring in 399 Canadian Maple Leaf coins having a face value of $19,950.00 and not even have to declare it. (provided he has less than $50 in other cash on him) Thailand not having a limit on the amount of money brought in, could as you say, bring in as much as he wants, or his baggage limit of 50 pounds, meaning 800 Maple Leaf coins, as long as it is declared. He could even bring more as carry on luggage.

[joekicker 53]

The way I read it, the OP can bring in 399 Canadian Maple Leaf coins having a face value of $19,950.00

 

Like you, I would not simply DO this and then try to cite the law to the authorities. But.

 

But you can legally bring in as much gold as you like that is NOT ingots or bars. But.

 

But if you tell Customs about it, it sure won't hurt.

 

But your reasoning is off because you're still trying to use the VALUE of the gold against that currency limit.

 

The various restrictions on currency import and export in Thailand - foreign currency and baht - refer literally to currency, bills and (if for some reason you have a lot of them) coins. You're not charged or toted up on the total VALUE of what you have, but they just lay the bills out on the counter and count. Nothing else counts on that (except travellers' cheques). Your credit cards don't count, or your bank books or your jewellery or ....

 

Other things DO count on their own. You can't have too many cigarettes, no matter their value. You can't have too many new shirts, no matter their value. You can't have too many laptop computers. But none of these have anything to do with those currency limits - $20,000, 50,000 baht and others.

 

And of course you can bring in ANY amount of currency so long as you declare it and agree to exchange it once in the country. And you can take OUT any amount of foreign currency if you properly declare it with a different form.

 

But you can't legally bring in gold bars.

 

.

Edited October 25, 2011 by joekicker

[lovedog100 1,372]

Like you, I would not simply DO this and then try to cite the law to the authorities. But.

 

But you can legally bring in as much gold as you like that is NOT ingots or bars. But.

 

But if you tell Customs about it, it sure won't hurt.

But your reasoning is off because you're still trying to use the VALUE of the gold against that currency limit.

 

The various restrictions on currency import and export in Thailand - foreign currency and baht - refer literally to currency, bills and (if for some reason you have a lot of them) coins. You're not charged or toted up on the total VALUE of what you have, but they just lay the bills out on the counter and count. Nothing else counts on that (except travellers' cheques). Your credit cards don't count, or your bank books or your jewellery or ....

 

Other things DO count on their own. You can't have too many cigarettes, no matter their value. You can't have too many new shirts, no matter their value. You can't have too many laptop computers. But none of these have anything to do with those currency limits - $20,000, 50,000 baht and others.

 

And of course you can bring in ANY amount of currency so long as you declare it and agree to exchange it once in the country. And you can take OUT any amount of foreign currency if you properly declare it with a different form.

 

But you can't legally bring in gold bars.

 

.

 

Okay Joe, here we go. Let's say I have a US Liberty head $20 gold coin, minted in 1882. It's a $20 coin, yet is almost an ounce of gold worth $1,650. A coin collector would pay $15,000 for the coin. What is the value when you bring it into Thailand? From what I have read, I would say face value of $20. Though if I had one, I wouldn't sell it for that, or even the current gold price. Where do you think value is set?

Source: http://www.coinsite.com/content/faq/20gold.asp

[Grandpollo 366]

Okay Joe, here we go. Let's say I have a US Liberty head $20 gold coin, minted in 1882. It's a $20 coin, yet is almost an ounce of gold worth $1,650.

 

Like most other US gold coins this is not 24K.

 

Those that are:

 

Canada Maple Leaf

Krugerrands

Pandas

 

All are 1 troy oz. bullion coins, of .999 or .9999 pure. And the Canada maple sells at a lower premium over spot sometimes by quite a bit.

 

The US gold coin is .9675 oz. of gold in a 22K mix like Thai baht gold.

[joekicker 53]

Okay Joe, here we go. Let's say I have a US Liberty head $20 gold coin, minted in 1882. It's a $20 coin, yet is almost an ounce of gold worth $1,650. A coin collector would pay $15,000 for the coin. What is the value when you bring it into Thailand?

 

Who cares? There's no restriction that applies, so you can set any value you damn please. Thai officialdom doesn't care, not legally anyhow. They're more interested why you're carrying two laptops or three cartons of ciggies.

 

Same as your stamp collection, your collection of pressed maple leaves, your matched set of 1927 flapper dresses.... I have no idea what ANY of them are worth, and really no interest. Me and the customs guy, both.

 

.