How I Sometimes Make Money in Pattaya Thailand
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- Опубликовано: 31 июл 2024
- Today we look at one way of possibly making money in Thailand. Gold is readily available here and a large part of both the economy and culture. See how I instantly turn cash into gold and vice versa right on the streets of Pattaya Thailand, I'll take you through all the details and tell you why I do it.
#Pattaya #Thailand #PattayaThailand #Rides4Kickz
Thank you for trusting us to buy gold and recommend customers to come to the shop. Thank you very much. Hope to have the opportunity to meet again next time.🙏😊🐰❤️
🙏 How large gold bars do you sell? What is the commission on those bars? Thank you👍
@@727skydivers Now the shop has the largest gold bar, gold bar 10 baht. There are 5 bars. Commission fee is 150 baht per baht. You can come to the shop. I have items for you. Thong Darani 1, South Pattaya.
Rabbit is very beautiful 🥰
@@DaveEPie Thank you 🙏😊
กระต่าย แอบแรด You are welcome honey. Do you speak English?
Good luck to you and your family.
Cheers from Arizona.
It might be better to view buying precious metals (Gold, Silver, Platinum) as a form of Savings rather than a form of Investment.
Great content brother, thanks for explaining how gold is traded in Thailand learn something new everyday, enjoying your channel I miss Thailand can't wait for travel to open up again from Australia, stay blessed🙏🏽
As always Luke, very interesting and informative. Great videos....
You video presentations showing a wide range of subjects which make it stand out from the competition . Keep up the good jub !
Great video, thanks for the insight into an area that I really didn't know anything about. Much appreciated.
The benefit of gold jewelry vs bars is that you can wear jewellery through customs and you cannot take bars through. Keeping 3-5% net worth in gold jewelry or a watch, etc is great for travellers/nomads.
That's not true if you're talking about the United States. It's perfectly fine to take gold bars into the country. The only requirement is you declare it at US Customs if the value is more than $10k. There's no duty on gold bars, so you won't be charged anything.
no one buys shity sub 23k thai gold in other countries.... theres a reason bro if its too good its dogshit....
@@jjswigger8591true no many people want to wear thai gold but the scrap value you will receive at the pawn shop or merchant will be at least 90% of what you paid. compare that to the dirty 14k gold you buy in europe and america where you will get 40% back of what you paid at scrap value.
Lucas I applaud you. So many vloggers i have asked to do a video like this and never happened. They would not go in or did not understand the system. Great video. I tried to buy some gold a few years ago but the shop attendant would not let me in ( I do believe because I am an indian descendent) I had to get one of the girls from the Marquee bar to come with me and explain that I was from the UK and not coming in just to look and touch. Top video and always original 👌
Thanks for the video, it was very informative. I had thought about picking up some gold there so this was great. Thanks.
Loved this show.
Great video Loucas 👍✌️🙏
Extremely interesting subject on Gold, thanks for the information.
I like these kind of informative videos. Thanks
Loved the opening music, Mr. Bond! Great video. Very informative.
Awesome, thank you!
Very interesting and enjoyable vlog Lucas, thanks for sharing, regards from England 👍👍
Kudos! This was an interesting (and unusual) VLOG. Great content.
Excellent and informative video. Food for thought for all viewers definitely
Too right Loucous. When most western governments and central banks are monetising debt and devaluing fiat currency, gold is safer store of value.
This vlog made me smile. 👍
i owned a fiat once, it kept bracken down so i sold it to the wreckers!
Thanks for this video. I have wondered about these shops, and I'm a passive gold-bug. So, this was fun for me.
Great Advice by the way love your Shirt looks really good great Vlog thanks
Great video, thank you for sharing!
I bought gold during my very first trip in thailand more precisely in pattaya.. since that day i only made profit with thai gold.. as a farang we can not own lands but we can own gold and people underestimate this power!
the fuck? what dogshit lies are u smoking bro 0 proof and random words... please tell us how u make soo much money re selling dogshit gold for 50 bucks profit lmao
You are a man after my own heart. I don't keep large bank balances; it almost all gets converted to gold. Never sold any yet; but the time will come. 1 baht bracelet 20 years ago £100 UK. It recently peaked at £600.
Yeah, I've recently went into one of these stores recently. The rings are extraordinarily beautiful.
very interesting video thanks Lucas would be something I would definitely be interested in when I can finally get there hopefully almost 20 months waiting here in Australa since our govt stopped our basic right to leave the country. i am confident of being safe in Thailand and definitely happier and will access thai health care to fix a couple of issues with dental work and my eyes too. renting an apartment or villa and buying gold makes more sense to me than buying a property. and living in Thailand has so many benefits and living here has been going rapidly downhill for twenty years. thanks again for an interesting and different subject.
Ghost town. I've been in that same gold shop back in 2008. Great video.
Thanks for this, I always wondered about those gold shops!
You bet!
Ha ha! Nice show Lucas! Haven't seen thus one! Stay cool 😎 kind and generous!
This video is great 👍 it reminded me that I have a chain that was a gift to you from a girl I knew back in 2004 in Phuket, I still have the case and the little red pouch that it came in , I used to wear it but it broke and it been in the back of the drawer ever since. I just dug it out and still good about 16inches in length not sure of the weight but I will find out 😃👍 , thanks for the video 😃
Nice video, thank you!
Fascinating. I've lived in Thailand for years and never really understood the gold shops. Thanks for explaining it to us.
Glad you enjoyed it
There used to be tons more gold shops as gold was mainly used as the premier display of success and wealth. Almost everyone wore gold. Nowadays gold has been replaced by overpriced brands as status symbols - just like in the West.
Very interesting always wondered how it worked. 👏
Thank you! Cheers!
BULLION!! Wow this is very old fashioned.
buying gold here for over 20 years,great idea miss the days when we all we all
wore gold....
Taking a Thai woman into a gold shop is not the kind of help I normally look for. Hahahaha ;-)
Interesting video-now I learned how much a Baht is in Gold🌟.I have always wondered about that😊
You're a brave man to take a thai girl to a gold shop 😦
Haha, yeah right 👍🤣🤣
@@Rides4Kickz Taking any woman near gold rings is dangerous.
he never buy, just look look
I took mine to goldmarket in Dubai. Think I was stuck there for 6 hours 😎
Yes I bought a five baht chain in 1968 and kept it for years, buyer couldn't believe it was pure gold. And of course I was some of first in thailand.
The issue with holding physical gold as an investment is when you sell the dealer is not going to give you the market price (i.e. the spot price) of gold per ounce. They will also charge a commission and the profit from the market price to the offer price there giving you which is probably around 70%-80% the spot price.
Dividend paying stocks / funds are a better investment long term as you make passive income without selling the underling investments perpetually. Much better than owning physical gold which doesn't generate any passive income and your only hope is for the price of gold to go up and then sell. The physical gold investment is a 1 time transaction while the owning of a dividend paying stock/fund is in perpetuity and can grow over time via compound interest of reinvestment and dividend growth..
It's has always been best practice to keep some of your savings in physical gold.
Very interesting video Lucas. 👍👍
Thank you!!
Thank you for the education.
Hi Loucous and Vee thank you for video very interesting.
I’ve bought Thai gold on numerous occasions, the last time was in Secon Square Bangkok, it was a 3 baht chain. I had it for 3 years then sold it for a 75% profit. But like you said you can hold on to it until the price is right for you to sell.🙏for the video Lucas 👍🌟
3 years 75% lol ok
stuart, where did you sell it?
@@letsgotoe2toe I sold it to a Scottish girl who had a Thai boyfriend back in 2007
These little gold bars. The purity has to be 99 percent pure.
those bars are the same carat as the jewelry sold in the store , the price will be based on the carat or purity so its not a massive problem what % they are really but if you want to long term invest then 99% would be better )
Gold really isn't for making money. It's for rich people trying to preserve the wealth that they already have.
Your money is safer in gold than the banks...Gold can be bought at all levels!!!!
@@poggmahon1052 Ones money is best diversified. I have some gold. Not that much. I prefer stocks and real estate.
@@nelco69 Real Estate is never a bad investment if you don't overpay. Tax incentive is a big issue. Stocks are also much better if you know which ones to invest in. Gold ain't going to make me much money. But I have made out great on real estate and stocks over the last 20 years.
Like I said gold is good to help preserve wealth but not to create it. I make more money renting out property than I ever would get with holding gold. Gold has been stagnant for the last 10 years, If I would have put my money in gold I would have made barely anything.
@@nelco69 I own my properties outright. Rent is high in America and that is good for me. I also invest in legal cannabis in California which is the new gold. If others make money from gold good on them. I see much better investments to create wealth even with Joe Biden messing everything up. Gold is to hedge against inflation which is on the verge of hyper.
Love seeing your frequent videos. So comforting
Thank you so much!
Always a good feeling.
Fantastic vlog.....DCA with Gold and Silver is a fantastic move....News has it that your 401k is not OK in this Next Market Money Cycle.... VERY APT VLOG!!!!
Great vid 👍
Bear in mind the costs involved in keeping physical gold. Forgone interest, cost of safe keeping, trading and the impact of interest rates, inflation. Of course it doesn't hurt to have a small portion of your investment in physical gold.
Very nice idea
thanks you for share good the ring in supper market in thailand
What a smart and understated way to generate dollars …
excellent stuff
Interesting fact; there is no Thai price for gold, Australian price, etc.
Global gold prices are based on USD to 1 ounce.
Part of the increase (or decrease) that you observe in your local shop is the fluctuation of baht to dollar. 🍺🍺.
Totally correct and any significant movement could be dependent on the strength or relative weakness of the Thai Baht
@Paul Simmonds 👎
@@mikeferguson4522 Where is THB going? THB vs USD I mean
My wife, before we sold her gold, said "she likes to upsize" lol. I would say "Its a bit more expensive than an upsize at McDonalds my love". The problem is that if your doing 3 or 4 exchanges to upsize from say a thin diameter necklace to a thicker one, thats going to be a lot of commissions and potentially a lot of swings in the gold price. You are almost certainly going to lose money it seems to me. Need to convince her that buying bars is better. Once you have a single necklace and ring for wearing than bars seems the better option to make a $.
Always good to have gold in hands. Gold has been use as currency for the last 5000 years and it won't go anywhere any time soon.
But how did those people in days of old come to realise that gold was valuable when they were isolated from the rest of the world, and not in contact with each other?
@@grahamjohnson4702 It's always been entrenched with mythology. And that's part of the reason why it still seen as a good investment. When it isn't! In those 5000 years there's been advance and equity markets outstrip gold and pay dividends.
in india the commission is called as "making charge" and its calculated as a % on the overall ornament cost... 😊
I’ve been buying gold at Aurora gold and they are situated all over Thailand and very reputable. If you buy 1 baht gold bar they add a 250baht fee. If you buy a 5 baht bar then they wave the fee. There is very little premium cost for buying gold here unlike the USA or Canada where you can pay $200 +++ over spot per ounce.
I just paid 7.5% over spot here in Florida.
Excellent piece ! This vid has presented me with good "food for thought" that I never really have much considered in the past.
I am beginning to reconsider my small investment plans looking ahead. It is becoming more apparent to me that having a more liquid balance of funds is wise, especially for those who live overseas and away from their primary banking depositories.
As you mention... having gold provides the investor with a good option for obtaining day to day funds in the event there are problems with accessing funds through banking or electronically.
The only problem with it (again, as you mentioned) is securing any gold on hand. But, I have a very good plan** for that.
** I won't mention that here.....lol. But may share it with you if we ever met upon return sometime in the future.
Thanks for the vid.
Lucas , thanks for another great video. Perhaps you could elaborate on how you actually paid for the gold using your phone. As a fellow American I understand it’s very difficult to open a bank account there and quite possibly not even worth it do to the reporting requirements. Did you use a particular app and was it tied to a local bank etc? Thanks much.
Still the best place to buy 24K, is when you do a stopover in Dubai/Abu Dhabi, in the UAE.
Gold definitely has a place in a diversified investment portfolio. Having some on hand in the event of a "lights out" kind of event makes sense. "Bananas" and "Freedom Seeds" along with food, clean water, and alcohol will almost certainly be accepted for barter. Crypto, ETFs, and stocks are also pretty easy to trade and hold these days as reserves.
the necklaces etc are good if you travel between countries and want to trade.
Superb lucas 👏👌
I better find another place to hide my loot since you mentioned the sock draw 😂😂
Haha, sorry for outing you 🤣🤣🤣
Maybe in my depends? ha.
Thanks and interesting indeed :) The only gold I had, I gave to my daughter in the form of Granny's jewelry... it was a pain to protect through my 1st divorce, and wanted to keep it in the family. No idea what it is worth, but kept locked up in a fire safe if not deposit box as you say, they are becoming rare. All the BEST to both of you! Cheers :)
Cheers Marty 👍🙏
Enjoyed the journey, I always learn from your videos as well. When I finally get to come to Thailand 🇹🇭 I won’t feel so lost!
As always thank you both
🙏
50 , 000 right around the corner. Congratulations.
We buy here at Perth Mint Western Aust 99.9%, you can purchase cast bullion which is not as refined finish but is same weight just cheaper in minting costs. Thai's love Au gold. Also, they can store as well.
Just don’t forget to sell it at some point. I still hold a few hundred grams that I bought in Cambodia and Thailand some years ago. The price has gone up quite a bit, but unless you sell it, there’s no extra money in the pocket. :). Thanks for the vid. Very entertaining, as usual.
its not even 24k its sub 23k yellow shitter plated usualy...
the money is in the pocket. it just hasn’t been converted from metal form to paper form
Love it - great idea. One ounce of gold is 31.103 grams so 15.244 grams is .49 ounce. Funny how its not half an ounce.
If I remember right the first gold I bought in Thailand was around 3500 THB for a Bath, or maybe it was 5000 THB, but that was more than 20 years ago. We still wear our engagement rings I bought for 1500 THB each. Nostalgia. Anyway, I do like you Lucas, except I horde my gold :)
Wow, that is some nice nostalgia 👍👍🙏
Indeed about 25 years ago I did buy, for myself 55555, some gold necklace here in Thailand. Indeed at a LARD lower price per Baht of gold in those days. Back then I should have bought a LARD more. And keep it in a sock back home. 5555
@@Singtoo i to did same as you now i am multi-millionaire
Couple of WTH factoids from Wikipedia: almost all gold in the universe comes from the collision of neutron stars - which are rare, and whose collisions are even rarer. And, most of the gold that made it to earth arrived while earth was molten, and sank in deep since gold is dense. As a result, most of the gold we mine, came from asteroid strikes that tossed the gold up towards the surface.
B29,750 today. You're doing well my friend.
nizoo and informative . tnxxxxxxxxxxxxxxxxxxxxxxxx and nizoooooooooooo
Best vid you put out in awhile Rick (IMO). Really enjoyed it. Other Thailand v loggers seem to be afraid to venture in and film in Gold shops knowing most merchants won't allot it, so kudos to you. Would love to see more like this when you have time.
Thanks 👍
Well this explains the inordinate number of gold shops I always see. Too gawdy for my taste but it's a good option to buy some and take home if holding surplus baht at the end of a holiday.
probably becuase you’re white skin and can’t pull off gold.
Yes years ago when I was in Thailand I bought a2 baht chain for 35 dollars, lot has changed since then
Mr Phil (legend) quality geezer. Le Pub just off walking street /soi diamond. Great place to go for a beer.
And a Pie & Mash eh Loucous😉?
gold is classic, have fun. I don't trade often on stocks, but since you used the capital gains phrase I know you have held them for more than one year. (generally a far better strategy anyway than trading the noise) my broker is down to zero commissions but yes the form you print at the end of the year for taxes is still thick and the 1040 is no fun.
In 2018 we bought 10 bath of 96.5% (23 carat) gold in Thailand. That is until now a very good investment :-) The money from the gold will be spend on our next travel in Thailand.
I stack both gold and silver. It's a preservation of wealth and savings for me. What about silver? If I visited should I bring gold to sell for more bang for my buck than the dollar? If you see rabbit again tell her I said she's a cutie lolol. Good video and keepem coming. Thankyou
I still have a ring I bought in Udorn in 1966. We lived in Saudi Arabia for 18 years my wife bought it for as low as $200oz. You are right I had a buddy who bought a lot at $800oz and six months later it was $500 oz.
I'm still holding $38.00 silver
Highly educational vid there, man. Now you've got me thinking on an alternative investment route.
One thing about investing is that you can choose the right investment but you could be in the wrong base currency.
@@mikeferguson4522 True, but there's just something about buying a cache of small gold bars and stashing it away for a bad day. Just like a pirate captain and his treasure chest.
@@robothehobo agreed, but that's a different scenario than that was being painted in the video, when he was talking about making a profit...at today's gold price / cross rates it would the time sell rather than buy, if you think Thailand will get back to normal one day and the Thai Baht recovers
The Number one tip on Gold shops ,Hold the girls hand slightly firmer than you would normally do and walk Briskly past whilst quickening the pace ever so slightly 😏
And point out a distraction across the soi 😊👍
Gold mining stocks will usually increase double the price of bullion but also can be twice as painful on the way down.
If you're convinced it's going up, mining stocks are the way to go.
Hey that’s my friend Phil aka Mr. Egg! We have some gold jewelry that a couple of times we have taken back to the gold shops to get a cash loan and buy it back later!
Yes, lots of folks do that if they need some quick cash 👍
@@Rides4Kickz that’s why we have done that! It’s not what I want to do but at the times it made sense.
In about 2005 I bought a gold chain for about £100. I bought it to wear. When I met my (now ex) wife in 2010 I gene it to her as a gift. We went to Pattaya in about 2011 and she sold it for about £600. If only I’d have known I would have bought about 10 and kept them for myself. Could have made £5000 profit. Would have paid for a couple of holidays.
A Gold Collector !
:)
I seem to be having a bit of difficulty finding 24ct gold bar. (99.9) A couple of shops I've tried only have 23ct. Is this normal in Thailand.
Please note in the past many gold shops have been caught selling duff gold you don't know until you come to sell it no marks on Thai gold
thanks for this. how do i know i’m not buying dodgy mafia fake gold.
maybe i missed out but i really wonder how much the neckless would be as i always wanted to buy one in thailand
if i fly into thailand with a few 1 ounce bars......i was wondering if they would take them from me......or charge a fee for bringing them in..?
I assume the dollar to baht exchange rate influences your decision to buy or sell too. Good luck my friend
Can you buy and sell Gold coins, such as Eagles, Pandas, kookaburra as well, or is it only Bhat Bars and jewelry? Thanks again
Very informative upload, always appreciate the work you put into your content
Thank you! Cheers!
In terms of calculating capitals gains/losess at the end of the year, it's like you thinking you have to do the calculations when it's on a spreadsheet (hint: it does it for you automatically 🙂). But it seems like you enjoy trading gold for fun, so kudos to you 🙂. I like the automation of the ETF's today so I stick with that.
But who needs to this? My Investments are in platforms that act as an insurance"bond" offshore and tax free. Isle of Man, Bahamas and Caymans 1% pa.
@@brianbrown9512 whatever works, I suppose. I think in the end, as long as you are making money and you are comfortable with the method, that's all that matters.
@@sorjai Yes agreed, thanks
I am a bit of a stacker but never bought any in Thailand,,do you have any concerns about counterfeit ?
I also like to do that ,gold trading