GOLD IN THAILAND
73
SOLID GOLD
One of the most common sights in Thailand is GOLD. On just about every block in downtown Bangkok and in every city and town in the country you can buy Gold. The Oriental idea of wealth is embodied in Gold, either jewelry, coins, statues and bullion. Every Thai baby to senior citizen is aware of the value and security of this precious metal. Although it is known and valued throughout the world, in Asia it holds a special place in the lives of the people. It is a security blanket that is worn as jewelry or a Buddhist Amulet on a Thai Baht chain around most peoples necks.
I am fascinated by some of the elaborate neck chains that are worn by many that have a number of Buddha images, revered Buddhist monks and images of the King attached to them. Many of the Images are antique or special issue for special occasions like the Kings Birthday. There are even monthly Magazines that extol the latest finds and issues of these different images and their values, like American Numismatists do with coins. Almost all of the Thai images are bordered or encased in pure gold.
MANY SHAPES OF GOLD
REAL GOLD
Looking at the gold bought in Thailand 18K is about the lowest they will wear or even buy. Most jewelry is 22K gold. They don’t even consider 14K real gold. I remember back in my earlier days in Thailand I insulted one of my many girlfriends when I bought her a 14k gold chain as a gift! She was slighted and didn’t see her again after that. Only Baht chains are real gold to them. Any gold shop or pawn shop will buy or loan money at any time on Baht chains and very high percentages. Today Gold sells for a lot of money in everybody’s country so it is a lot more serious when you buy it.
One of the many gold Buddha images in Thailand is “The Golden Buddha” in Wat Traimit in Bangkok’s’ Chinatown district. This statue is the biggest solid gold statue in the world. It measures 9.8 feet tall and weighs 5.5 tons! A “wat” is a Buddhist Temple where most Buddha images are located. The interesting story about this one is that it was not know to be solid gold for over two hundred years. It is thought to have come from Ayutthiya and made around the 13th century. It was concealed in plaster when the Burmese invaded and put Ayutthiya under siege. It stayed there until the 19th century when it was moved to Bangkok and was housed in old buildings and not thought much of. Until one day in the rain it was dropped in the mud and was left as a bad luck omen. The next day the abbot of the Monastery noticed the plaster flaking off the solid gold statue. It remains in the same place today.
GOLD BAHT
Gold in the country of Thailand plays a very important role in the daily lives of all the people not just the wealthy and noble. And any one on the street will usually be able to tell you the price of gold for that day, which they measure as a One Baht weight. One Baht is equal to 15.224 grams of gold or approximately ½ Troy Oz (0.49 troy ounces). A two Baht chain is about One Ounce of pure gold if it is 24K or approximately 13.96 grams of 22K. In any case it is very expensive nowadays and even more treasured.
 | Amazon Price: $2.99 |
 | Amazon Price: $32.50 List Price: $43.95 |
 | Amazon Price: $61.75 List Price: $85.00 |
- PROSPECTING FOR GOLD IN ALASKA
- THE BIGGEST DIAMONDS IN THE WORLD
THE BIGGEST AND THE BEST DIAMONDS IN THE WORLD. THIS MAY BE YOUR ONLY CHANCE TO SEE THEM. - HOW MUCH IS YOUR OLD GOLD BRACELET WORTH?
- RETIRED IN BANGKOK, THAILAND
CommentsLoading...
Hi Mike, Most folks in Thailand see gold the same way you do. They buy it in jewelry that sosts maybe 1-3% more then spot. That pays for teh labor and profit for teh dealers. But thet gold is easily converted to cash if needed and the same 1-3% applies again. But you have the most prtable and usable investment you've ever owned. or you can buy it in bullion. I am working on some bullion for a couple of guys that will get them the gold for about 90% of spot. These guys use the gold to make jewelry. I can get some for you about 9-10% under spot for a kilo, not every day but when these guys buy I can get an extra for you. I make 1% on the deals. I had an opportunity to get some gold "nuggets" they callthem from Mali today but the guy was such a hassle I told him go away. but he was asking $34000 per kilo for 99.5% pure. Probably could have gotten it for $25000 or less. So there is a lot of gold dealing here and we assay all of it to be sure. If you want to buy gold talk to me first. Peter
Peter - you got my attention and I sure will be talking to you.
Peter, Interesting window on Asian culture. Solid gold 5.5 tons? Wow. Tom.
Thanks Tom, glad you could make it and hope to see a lot of you. And it is a definite WOW. Peter
Is there a website were we can purchase Thailand gold jewelry? And how are the prices of plantium there?
Great Read!!
Hi JT, There are a few folks selling Thai jewelry but I don't know them and couldn't recommend anyone. Platinum is not real popular here but it is sold like gold in some shops. The best way to buy gold here is to come here on vacation and then wear it back. There is no duty under $2000 and if you are wearing gold they usually won't bother you. It can be shipped from here but the cost of the FedEx is expensive and adds to the price. Most of the Thai jewelry is 22K and expensive but it is almost pure (92%). Thanks for asking and I'll look around for you, Peter
Well can you recommend a good travel agent then? It sound so wonderful to vacation in Thailand. Is it a good famiy vacation spot?
Thanks for responding. I look forward to your answer.
All My Best,
Jt
Hi JT, sorry it took so long to get back to you but I am twelve hours ahead of you and the fact that I've been reading all the commentw with you and Stu from VT on your Michele Bachman HUB. Great back and forth. Stu is a Tea Bag as you know and you will find a cadre of Tea Heads on HubPages that make thing interesting. Things have not degenerated to the level in the mainstream press but it does get a little heated. Stump Parrish is a great aetheist and goes after these guys all the time and I just throw in a little logic every once in a while to confuse them. Welcome to our little club, it's great fun and can be downright serious. If you get a chance read my "Snow Princess" you'll like it.
It is a wonderful place to vacation and it can be very family friendly. The Travel Agents here cannot book you a flight you need to work with some one in the States. If your serious talk to me first befor you spend any money. Thanks for all the interesting reading, Peter
I like friends
Hey Peter,
Thanks for the welcome and well I have been hit pretty hard by the dir hard religious people. It is like they are all Jim Jones followers.
I'll check out your "Snow Princess" article.
Yes, I serious would love to travel to Thailand but I doubt i can do it right now. I'm in the mists of Child Support Hearingas and I am owed a great deal of money about 11 1/2 years worth but that is a story for another day.
I'm going to check out your artilce. Thanks for keeping in touch. And before I make any travel plans I will be in touch.
All My Best,
Jt
PS
I have a feeling if I were to go over seas it would be to work and I would probably be stationed in Europe.
Europe is also a good place to have to work. The advantage here is the prices are so low you can do a lot more. Besides after you get all the back child support you'll be rolling in dough. I will be your personal guide. Thanks, Peter
I think I will believe it when the check clears the bank. I live in Florida after all and they aren't much for child support enforcement in this state.
I have applied to be a trade negotiator to Japan. My Father had this job and I am well qualified.
I appreciate the deflated currency. I lived in Italy as a teenager. I miss the days of the Lira, six hour work days, and 3 hour lunches.
Let me get through this court ordeal and when the check clears the bank..it is a definite possibility. The child and I need a vacation. I just will have to see the cash to believe it. But I might surprise you and just show up.
All My Best,
JT
Everyone is welcome here and especially you and your child. We always have people sleeping on the floor. But we'll get you a nice hotel don't worry. Peter
Strange what a hold gold has on Asians, Peter! It's pretty much the same in India - and like you discovered, 14k gold is looked down on. I love wandering around the temples in Bangkok but truth be told, even though the Gold Buddha is impressive, I love the Emerald Buddha.
Shalini, I want to thank you for your really great comments and hope you come around more often. Peace
Peter
Old Poolman 11 months ago
Peter - I found this hub very interesting and informative. I have been thinking seriously about investing in some gold, but I want the gold in my possession. It seems many of the investment places give you a piece of paper saying you own some gold, and that doesn't give me a warm fuzzy feeling. Nope, I want it where I can see it and touch it when I need a security boost.
So now for a dumb question. Does gold jewelry cost more than say a lump of gold, or is the value exactly equal based purely on the total weight? We can talk about this when you come for your visit.