Hi beginner,

I think you should change your id to advance already.

I'm still a collector, just occasionally sell small qty like 2 to 5 pcs to fellow forumner here to get to know them. Then I find some good lobang like the kook 2011 I share purchase loh. If I'm a full time seller or dealer, I will buy and wait to sell high when the market turns. But I think we are here to share and make friends. Silver investor are not many, so being able to know the few of you guys is an honour and fun.

As for SGKSY, he has got lots more silver than me lah, and his price very competitive, if I got money I will take up his 2oz dragon offer also.

chef

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Added on September 25, 2011, 11:49 pmYup, monday very exciting time. It will be interesting to see if it rebound on profit taking or slide down on panick selling.

I also think can buy a little now, tomorrow slide some more, stablize, buy a little more. If it goes up, then hold on to your investment and find the right time to sell.

At least we will not say "Aiya if I know early sunday price is the lowest, I will buy more or at least some" so doing a little every time it rest at a new low price, we can at least say "lucky I buy some, now those are profiting already"

my 2 oz worth.

chef

So you bought any silver lately? or concentrating main on gold?

This post has been edited by chef: Sep 25 2011, 11:49 PM

Yeah! GOLDCHAN,

Wah you are now officially considered a big time player with silver to sell even when the trend is down. I think anyone looking for silver in malaysia now should quickly go to you before your stocks are out.

mind listing out what you have? Price no need lah, subject to qty, but at least let us know what you have in store o.k?

chef

Yup, it's true,

It's always a gamble to import to malaysia, especially when your items are in thousands and it's small, they will even want to check more. Either they hold your goods until you are willing to pay or they auction it off if unclaimed.

I've imported many different types of items to malaysia, anything that did not go under their radar, they will slap at least a 10% sales tax or something. So it doesn't mean your cost are fixed at certain amount until it has arrived at your house and no extra tax to be paid required.

Best person to ask is GOLDCHAN, he has been importing bars and coins for past year and he can tell you all the story about his goods stuck for weeks while the price of silver just roll down the hill..

chef

PS So to correct 3think post, the custom will tax anything they think is taxable, and they are allow to use MARKET price in malaysia as a gauge to charge the tax, does not mean you declare RM 10 means they tax you RM 10. They can check with a few source and come back to you saying your goods are RM 200 and you have to pay whatever tax they impose, don't play play with the custom. I've 9 years of experience importing other goods, it's never fixed. Those who told you it's o.k are those who have not enough years with importing goods.

Well, and then there are those who paid under table money in large sums to bring in whole lorry of goods tax free.

I tell you it's not a very balance way, but it is the way of business, those who dares win. I have never believe in doing that kind of things with government agency, because these kind of things comes back to haunt you, so I rather not get involve than even start small. right?

Anyway, To hope for a clean government, we must start somewhere and we are all waiting for the day it will start.

chef

What you are looking for anyway? what kind of coins or bar? I'm always interested to know who is looking for what because I want to collect all types but a few each.

The support line seemed to be at USD 26 and that's suppose to be the stronger one, now that it is being tested again and again, it's so scary and exciting. if it breaks the support, I'm thinking it will head for USD 22. But let's learn from history, the price drop will never be forever, so how many days did the precious metal price tumble in 2008 until it halt?

Funny thing is, many news are reporting that the SAFE HAVEN is now US currency, while a few months ago, these expert says US dollars is collapsing and we need a new currency to replace it.

chef

Hope you guys have enough fiat money to tie you thru, then you guys will reap the rewards when all the new people starts buyiing silver from you guys!

I don't think so, although US dollars is not going to be the currency of the future, but I think it will slide further after all the buying is done, as bigwolf mentioned, margin calls is this 2 days, so people are still selling their precious metals position to secure their other position, so it may not end till tuesday.

BUT market is crazy so I may be wrong! ha ha... Just don't plunge in and buy blindly when you see price going up, many people got burn trying to chase such rebound.

chef

My guess is, it's going south. but hopefully the exciting part happens before we all go to sleep, else kena catch off guard again!

chef

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Added on September 26, 2011, 7:55 pmHey, mind sharing how much you sell and what was the bar you sold?

chef

Hey guys, I'm selling this lunar dragon coin 1/2 oz (not from perth mint, from royal australia mint) picture as shown, PM me your offer.

comes with the box, certificate and serial number on the cert, very nicely wrapped. I only selling 3 and keeping the rest.





This post has been edited by chef: Sep 26 2011, 07:55 PM

If it is above USD 30, then hang around and see where it goes next, if it stays at USD 30 for the whole week, it means people are coming back into long position.

But I still think it will go down a little more, next few days will be interesting to watch and see who among us all manage to catch the right price at it's bottom. 1 copper coin to the winner!! next time we organise a competition and I will donate 1 silver coin as first prize.

chef

I also think it's just profit taking, this week is a downward trend, never seen a chart with sharp up and down too often, so last friday or monday after heavy selling, this looks like a golden opportunity to go in.

This is the time we see the real market player who have monitored stocks and share for a long time, and those new to investment thinking to chase the price.

my 2 oz worth. It may still be a strong reversal and everybody just plunge in and buy, but my guess is, it should still go down, maybe USD 26 or lower.

chef

I think the panic selling in the USA has already stop, unless they see or hear another news from Europe or Oabama that some scheme has failed, then they will pull out their investment to hard cash again.

chef

Hey guys,

Just want to say that, those dealer who do not have stocks are not unreliable, at least I don't think all of them are. Look, everyone here is looking to buy silver, so they sell whatever they have and order new stocks, it takes a week or 2 for these stocks to arrive, so most likely by next week everyone will see LARGE supplies of silver in malaysia because EVERY dealer order large amount at low price from overseas.

One example, Let's say I'm a big time dealer like 1stopgold, I have 1000 oz in store which I bought at RM 160 per oz, price drop to RM 130 per oz, you think I will not sell? even if I am loosing money per oz, I will still sell, recover the money now from these sales and order from my supplier at RM 120 per oz immediately. Do I loose money? no, in fact if the price goes up, I make even more money.

Those that you find still have stocks are company who :
1) used to sell very high, nobody buy from them so they have lots of stocks left, you when you find them, they are the last one everyone want to buy from
2) They had just ordered from supplier 1 or 2 weeks ago and their new shipment arrive, they still ordered at a higher price but they do have the goods to sell.

So personally I doubt that any dealer who have stocks will hold back from selling their goods, a good businessman will not get their money stuck in goods and wait for the price to go back up which could be 6 months from now, and they will have to start learning how to eat grass.

chef

My 2oz worth opinion..

Hey guys, worry not, silver dragon 1oz will be available soon. I think someone already hinted the current selling price is USD 99, but reaching malaysia the price will be around USD 120 to 150.

This is already the lowest price for the dragon, because if you don't want, someone else in the world will want it and the price will go way above.

Hold your horses o.k? wait for it...

chef

Yeah, there's no limit to the purchase by some of the dealers. I think it's because they just got their shipment, if some dealer here order, wait 2 weeks for minting and delivery we should start getting the 1oz dragon offer by mid october. I believe the source is accurate, deal with him before. Anyway we already in no hurry to buy yet, until everyone is out of stocks. Then we should panic!

chef

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Added on September 29, 2011, 8:09 amhey chunyen

Wow your silver bullet shoot only at the rarest female dracula!! ha ha.... beautiful and rare.

I guess you are the real collector, which i hope someday i will be one.

chef

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Added on September 29, 2011, 8:14 amHey guys, price is falling below USD 30 now, I think it will go for USD 26 again this 2 days, maybe even today, get ready your final silver bullet for the final showdown!! ALL SILVER PRICE (except dragon and older coins) are gonna drop!! so aim and squeeze...

chef

At the time of posting, spot is at USD 29.12


This post has been edited by chef: Sep 29 2011, 08:14 AM

Hey who says so? I think many people are still looking to buy, maybe if you can list out what you have for sale here, including the price, I'm sure there will be respond.

chef

As for leasing back to you, how it works huh? We pass you the silver, you sell, then you pay us back? or we pass to you, you buy from us and sell when you want?

Ha ha, I'm oversea supplier, I'm from over the sea, supply somehow is no problem for now.

chef

Yup, same as you.

Actually no lah, like you I travel there and back often. So I'm considered "from overseas". So what's your next order anyway? gathering so much cash.. mine giving us some hint?

chef

Well, you have moved up quite fast, selling directly to reseller like goldchan already. I'm still collector level only, occasional group buy from the US, not singapore only lah. Good to know at least you are helping all malaysian to get high demand items in and sell to us at low price. But as you mentioned, don't do illegal things lah, it's not worth it when caught.

chef

Yup, I got the email from gainsville early last night, I think no way I will continue to buy from them anymore, how to lock price like that! anyway, doesn't affect us much. Then the next rumour is, other US company will raise the premium or follow suit, too many people with poor business ethic, they implemented this because many people ordered at high price but chicken out on the deal when silver price drop 25%, so now they want cash in the bank before they trust overseas buyer.


This post has been edited by chef: Sep 29 2011, 01:46 PM

maybe you are ordering from another gainsville. if you want we can forward the email to you, leave us your email and I'm sure one of us will forward the email to you, I'm going for lunch so I won't until I'm back.

Hope yours is excluded, then you are the last of the international orders they accept the old way.

chef

Actually this is business lah, it's normal for buyer to ask for lower price, so they can sell at better margin to their customer. I also push my supplier for more discount, then turn around, my buyer also ask me for discount. EVERYONE in this forum is looking for low price item to buy, I've never heard anyone ask "anyone selling expensive MAPLES? higher than market price!! I want to buy"

This is business world, you must be able to take bargaining both from customer and seller. How many people in this forum will not ask for discount? I promise you 99% will ask for lower price.

You're upset with this 2 fellow, now nobody dare to ask you for discount and next time, you won't be able to sell because you rant about them in the open. As a dealer, have to be graceful about it, willing buyer willing seller.

chef

PS I'm not defending whoever they are, I'm just speaking as a customer and I Always ask for more discount, ask GOLDCHAN! he is most gracious.

o.k o.k... cool o.k...

I didn't mean it that way. Anyway, people backed out of my deal too, more than 6 times in the last 3 weeks, and some are quite big, but what to do? getting upset just shorten our life span. I am in the "other people shoe" both as buyer and seller.

Put the item up for sale again.

chef