Hi guys and good day to all investors here. It actually took me 3 days to read through all 93 pages of this thread and I'm pretty amazed by the information I got and the awareness of investing silver here in malaysia. Anyway I'm from Penang,residing in JB, working in Singapore for 15 years now. I had been stocking up silver bullion .999 coins and bars for past few years, though am not a fan of numismatics coins or rare coins for collections. Reasons is ,what you really want to accumulate is the amount of oz for future investment and to hedge against inflation. In the long run I would have more oz than you have with the same amount of money spend. And is the oz that matters when come dollar collapsed, end of monetary system which will come through one day. What really matters is the .999 grade and amount of oz you have in hand. No offends to those numismatic collectors, hobbyist here though you will argue that you are killing 2 birds in one stone! Haha, anyway let's laugh together when silver one day reaches to 4 figure per oz.. and be more precious than gold one day. Remember diamonds are so rare and expensive, now it's worthless and just for jewelry uses. Do you want to buy a diamond and keep it for it's value. Nah...
Anyway I saw someone ask about opening a silver account in UOB, well you can only open in Singapore for UOB silver saving account. I remember years back I went to UOB Singapore and enquire about it. Well for those who want to open one, I would suggest you to forget about it, here's why, minimum investment is 10 oz per transaction base on spot price. That's fine, but the problem is they are charging you 0.2 oz PER MONTH for claiming that they store the "physical silver"for you! That mean the bank will rob you of 2.4 oz of silver in one year without using a gun and while you are sleeping ! And by the 4th year they had manage to rob all of your silver! Haha , on top of that there's 7% gst on the amount they charge you per year. And when you want to withdraw it you can't withdraw the physical silver but only in SG fiat dollar.So guys just go get your physical silver and put it under your bed and sleep with it, that would be wiser.
I have plans to setup a website dealing with silver bullion and providing a means for our fellow Malaysian to at least own some silver for protecting your wealth in the future and generation to come.I'm still sourcing out with distributor to get the cheapest silver to bring into Malaysia. Though the razor thin profit for being a trader of silver and the risk they carry due to volatility , what matters most is creating the awareness,educate everyone and giving out this greatest opportunity on our lifetime in silver investing to everyone is the key that drives me.. So, no matter where and who you brought from please thank them that they are giving you an opportunity to own physical silver and you will thank when the day come .... And we will all laugh together !
Latest news from my friend a silver small time trader that there is a lot of fake panda coins and american eagle surfacing lately. Please also stay out from 100oz bar like engelhard. Just try not to get 100oz bar for safety reason...you will never know what inside. It doesn't matter which source you get them it's the mint company that matter..I somehow have doubt on publicgold bars..there are not worldwide recognize though they claim their products had been assay by independent.. Say if I would migrate to England one day and want to convert my silver to fiat, would the silver trader there accept my bars, they may but you need to spend some money getting assay from their country assay office. I hope you get what I mean,as you know this is boleh land ...never buy generic bars silver or gold I would say...just my opinion....
Safest is Canadian,perth,sunshine,scottsdale,autrian,pamp Swiss...or Singapore mint gold !
Adios guy... And happy investing and take care!
Agreed all your points, but the selling silver is thin profit business. If you have capital and set up a website like singapore silverbullion, i think you profit is at least 10 percent for coins. If your source your bar directly from the manufacturer, i think you profit can be greater than 20%. If it is a thin profit business, you won't come out a plan to sell silver in Malaysia. Price volatility? If you offer ready stock, buy and sell to ppl. then maybe. If you are planing to collect money from buyer first and do the pre-order for them, then your profit is guaranteed. No risks!