Thailand could make a mint with coins | Bangkok Post: business

Thailand could make a mint with coins

Published: 28 Jan 2013 at 00.00
Newspaper section: Business

Thailand's industries have made major strides in recent years to position themselves as hubs for auto manufacturing, agriculture and tourism. But coin production?

Why not, says Tassanee Ponglamai, the deputy director-general of the Treasury Department.

"Thailand has the potential to become a hub for coin production in the region, as demand will certainly rise with the launch of the Asean Economic Community [in 2016]," she said.

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dougo
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Discussion 1 : 28 Jan 2013 at 10.241
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I don't understand why there isn't more demand for bullion coins in Thailand. Several countries including the US, Canada, Australia, China, South Africa and Austria mint gold, silver or platinum coins. The coin format is a guarantee of purity and weight. Instead in Thailand people buy chains and other jewellery. Personally, I don't trust the gold dealers here. One necklace we bought turned out to be a gram light. Another supposedly 1 baht necklace weighed 15.17 grams. So at 96.5% purity that was 14.64 grams of gold, or 97.6 satang. When you buy a 1 ounce Canadian Gold Maple Leaf, you're getting 99.99% gold and it's a full ounce.
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