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 how to invest silver in malaysia

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myvi5949
post Dec 26 2010, 08:06 PM

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QUOTE(hanifw @ Dec 25 2010, 06:19 AM)
nubex.com.my ~
*
rm200 for one ounce silver.. twice the spot price of silver. thats a ripoff.
silversmith
post Jan 13 2011, 10:57 PM

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There is a free informative talk on investing in silver:

Wed 19 Jan 2011
The Amazing Room
4-3, Lorong 2/137C
Off Jalan Klang Lama, 58200 KL
(venue is next to Elken, facing OKR, across OKR from Plaza Central)

other updates posted in buysilverinmalaysia.com (website up late Jan 2011)
pubmut
post Jan 15 2011, 08:30 PM

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This is a rather interesting thread and here is what I know to date.

The purpose of getting silver is not just to realise capital gains when the stock market crashes, but rather as a currency to purchase items when all paper currencies become ghost money. Please read Rich Dad's Guide To Investing In Gold and Silver by Mike Maloney or watch his Why Gold and Silver video.

Therefore, to accelerate the gains for the short term, one can use ETFs to trade and then convert that to physicals to leverage the cost of storage when it's time to withdraw, assuming that you know when that is (the "buy low sell high" paradox).

Public Gold/Silver/Dinar and Nubex are the only ones selling silver in Malaysia, but at a premium. I do not include those who sell on ebay.

The question of certificates is difficult, but anyone who has the capacity to produce certificates will still have to undergo assays should the buyer be cautious. Therefore buying the more popular (and govt recognised) items is considered a safe bet, such as Silver Eagles, Maple Leafs and Philharmonics.

Msian Customs applies a 5% excise and 10% sales tax on coins brought into the country. You can call Customs to find out or just look up tariffs.customs.gov.my.

There are no tariffs for bars smile.gif and so you can buy as many as you like. Popular items are Johnson Matthey and Engelhards, but there are others like Sunshine (who mints the Silver Eagles), SilverTowne, Morgans, Scottsdale etc.

Storing physicals in the safe deposit box is going to be a challenge when we do have a bank run and the bank will effectively close, so buying a home safe may be the next best option. There is an alternative to the bank's safe deposit box - see www.rsdb.com.my.

The closest place you can buy physicals would be Singapore - see www.silverbullion.com.sg and www.royalsmithbullion.com. These outfits have a premium of about SGD4 above what you buy from the US minters, except that RoyalSmith is slightly lower than SilverBullion due to lower overheads. However, RoyalSmith's preference is Silver Eagles for coins.

If you'd want to get physicals and cheaper than Singapore, the best route would be to buy bars. If you want coins, the best route is through your trusted friend(s)/family in Singapore, where you would have a 7% GST plus other charges deemed relevant by Customs.

buysilverinmalaysia is quite likely to be ETFs related and less physicals based on the ads it runs in the Star paper. Any which way, the decision is yours to make.

Lastly, please be responsible with your cash flow and buy silver with your investment or play money. You still need to go out and buy food with your cash until the event horizon. Family financial planning is necessary, even for the single guy/gal. You can't eat silver, no matter how shiny it is. smile.gif

I hope this has helped you get up to speed, short of the technicalities.

Regards
chrischin
post Jan 15 2011, 11:30 PM

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Thanks for the information, Pubmut.
prophetjul
post Jan 17 2011, 08:33 AM

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QUOTE(pubmut @ Jan 15 2011, 08:30 PM)
This is a rather interesting thread and here is what I know to date.

The purpose of getting silver is not just to realise capital gains when the stock market crashes, but rather as a currency to purchase items when all paper currencies become ghost money. Please read Rich Dad's Guide To Investing In Gold and Silver by Mike Maloney or watch his Why Gold and Silver video.

Therefore, to accelerate the gains for the short term, one can use ETFs to trade and then convert that to physicals to leverage the cost of storage when it's time to withdraw, assuming that you know when that is (the "buy low sell high" paradox).

Public Gold/Silver/Dinar and Nubex are the only ones selling silver in Malaysia, but at a premium. I do not include those who sell on ebay.

The question of certificates is difficult, but anyone who has the capacity to produce certificates will still have to undergo assays should the buyer be cautious. Therefore buying the more popular (and govt recognised) items is considered a safe bet, such as Silver Eagles, Maple Leafs and Philharmonics.

Msian Customs applies a 5% excise and 10% sales tax on coins brought into the country. You can call Customs to find out or just look up tariffs.customs.gov.my.

There are no tariffs for bars smile.gif and so you can buy as many as you like. Popular items are Johnson Matthey and Engelhards, but there are others like Sunshine (who mints the Silver Eagles), SilverTowne, Morgans, Scottsdale etc.

Storing physicals in the safe deposit box is going to be a challenge when we do have a bank run and the bank will effectively close, so buying a home safe may be the next best option. There is an alternative to the bank's safe deposit box - see www.rsdb.com.my.

The closest place you can buy physicals would be Singapore - see www.silverbullion.com.sg and www.royalsmithbullion.com. These outfits have a premium of about SGD4 above what you buy from the US minters, except that RoyalSmith is slightly lower than SilverBullion due to lower overheads. However, RoyalSmith's preference is Silver Eagles for coins.

If you'd want to get physicals and cheaper than Singapore, the best route would be to buy bars. If you want coins, the best route is through your trusted friend(s)/family in Singapore, where you would have a 7% GST plus other charges deemed relevant by Customs.

buysilverinmalaysia is quite likely to be ETFs related and less physicals based on the ads it runs in the Star paper. Any which way, the decision is yours to make.

Lastly, please be responsible with your cash flow and buy silver with your investment or play money. You still need to go out and buy food with your cash until the event horizon. Family financial planning is necessary, even for the single guy/gal. You can't eat silver, no matter how shiny it is. smile.gif

I hope this has helped you get up to speed, short of the technicalities.

Regards
*
Thanks pubmut.

Really silly that the customs has duites for silver coins and not bars? And not on gold coins.....wheres the rationale here?

Coins are for most likely for collecting whereas bars are likely for commodity or value adding....Msia bolih...

As for publicgolds premiums for silver its a scam.....based on the spot silver price they are quoting in excess of 20% and buy/sell spread at 15%!
Thats outrageous! mad.gif

This post has been edited by prophetjul: Jan 17 2011, 08:35 AM
nik2
post Feb 3 2011, 12:49 AM

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Hi there.
Why u not choose silver as your investment?
Lately, the silver price always keep on going up and the price also cheap compare to invest in gold.
Are you prefer silver bar, dirham coins? or others method like MT4 etc.


Hope we can have great discuss here. Mind sharing you knowledges/experiences on silver investment okay..


for me..right now i keep on saving a few dirham coins. smile.gif
looking forward for silver bar.


ccdin1
post Feb 3 2011, 03:34 AM

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Hi All,

thank you for all the posts.

Just a quick sharing, I have been investing/supplying Silver since last year and have been trading via MT4 platform too.

And yes, the prices are orchestrated and they are controlled by some algorithms created by those "banksters". I have the privilege to learn from a guru who got some insights on market orchestration.

http://www.youtube.com/watch?v=oAsWCl0Fiko&feature=related

Margin trading is created back in 1930's with one purpose I believe, to take back the money "they" printed outrageously. How? They bombard you with some fundamentals news and make us believe the market is random.

My strategy is simple. Profit from paper silver, then reinvest into real silver. Bottom line, GET PHYSICAL.

Hope this helps.

Cherry
cherry912@gmail.com


bernthenoob
post Feb 3 2011, 05:49 AM

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Hi all,

I second what ccdin1 has to say in the previous post about the market is being random. I strongly believe as well the market is orchestrated to give us a distorted perception on the silver prices, also being an investor on MT4 and a supplier of physical silver bullions since 2010.

I won't be commenting on the difference between physical silver and other sorts like stocks and derivatives. But I would ultimately prefer to have what I purchase in my hands rather than purchasing something that I will never see that is kept in the bank.

Here are some videos for more education purposes
http://www.youtube.com/watch?v=SFyfJtMtAYQ

and also the evolution of fiat money and how it is backed/no longer backed by gold
http://www.youtube.com/watch?v=ZPWH5TlbloU

Invest smart smile.gif Feel free to drop me an email for more information

Cheers!

Bernard
bernard.lau87@gmail.com
happy4ever
post Feb 8 2011, 01:28 PM

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why are you guys giving out your emails so freely?

you guys are from the same gang, arent u? wink.gif
farisaiman
post Feb 8 2011, 02:29 PM

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1oz bar is good for kick-start
pubmut
post Feb 13 2011, 02:21 PM

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For nik2

Here's a simple math calculation for you:

1 dirham coin from nubex is 3 grams, priced at RM20.00 today 13 Feb 2011.

In order to get 1 oz of silver ordered through a US dealer, I would have to break down the costs:

1 troy ounce Maple Leaf priced at USD33.82 today 13 Feb 2011. Comes in tubes of 25 => USD33.82 x 25 = USD845.5

Add delivery charge at USD105 = USD845.5 + USD105 = USD960.5

Therefore USD960.5 x 3.1 bank exchange rate today = RM2977.55.

Add Msian tax at 6% + 10% (16%) = RM476.41

Total is RM3453.96. This is for 25 oz. Therefore 1 oz = RM138.15

1 troy ounce = 31.1 grams, therefore RM138.15 / 31.1 = RM4.44 per gram.

To equate the amount to 1 dirham at 3 gm = RM4.44 x 3 = RM13.32.

So, going back to the above price at RM20 per dirham, you are now paying an extra RM6.68.

The Kelantan Dirham is likely to be manufactured locally, and you are buying an item from the US, inclusive of Customs tax and yet you are paying less.

I will not argue with you about syariah laws, but I think there is something about profiteering that applies in syariah law, doesn't it?

Does that make sense to you?

Rgds
Pub Mutt


Added on February 13, 2011, 2:39 pmDear All

I believe you've already spotted some players in town of late:

1. www.mysmartgold.com, which carries Pamp Suisse gold bars. If you look at the prices they are quoting and doing your math, you will note that they are definitely better positioned against P Gold, first for having a well known gold bar brand and secondly, for the pricing above 20g.

However, caveat emptor needs to apply as I don't know if those bars are genuine and I have not heard of Hong Cheong Jewellery. Maybe I have been under the lid too long.

2. If you were invited to a talk by True North Asia, they are affiliated with Auruma International, of which I believe it to be a Ponzi/pyramid scheme because of the statements they make during Q n A (they have 8 levels of payment but is not MLM - duh!). Google "auruma scam" and you will find an interesting piece written about them. They are not members of Direct Selling Association of Malaysia (or any other country I suspect).

3. buysilverinmalaysia.com does not exist online, and yet this website is touted and the address referred to as a location in Old Klang Road from previous post. I haven't been to this place to check it out and I think that this is suspect as well.

Caveat emptor!

Rgds
Pub Mutt.

This post has been edited by pubmut: Feb 13 2011, 02:39 PM
farisaiman
post Feb 13 2011, 03:16 PM

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The kelantan dirham is not manufacttered locally,its from dubai,and its spread is 5% guaranteed, and btw the silver bar u found on nubex is pamp suisse lady fortuna,thats why its more expensive than normal bar,previously they sell silvertowne also which that time only rm135
pubmut
post Feb 15 2011, 01:12 AM

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Thank you farisaiman. I stand corrected on manufacture location.

Rgds
JiJai
post Feb 15 2011, 08:39 AM

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what does 'spread' mean in gold/silver term? I'm a noob. Anyone cares enough to elaborate?

This post has been edited by JiJai: Feb 15 2011, 08:40 AM
farisaiman
post Feb 15 2011, 10:07 AM

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QUOTE(JiJai @ Feb 15 2011, 08:39 AM)
what does 'spread' mean in gold/silver term? I'm a noob. Anyone cares enough to elaborate?
*


spread is also known as buyback,means when u wanna sell back to them,they will minus how many % they will deduct from current selling price,that is spread
merlip
post Mar 12 2011, 01:32 PM

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This post has been edited by merlip: Mar 13 2011, 06:07 AM
kucingfight
post Mar 12 2011, 04:34 PM

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i recently bought some silver bars here

competitive rates.
nevermindlah
post Mar 15 2011, 01:06 PM

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QUOTE(Hawtmail @ Oct 1 2010, 11:45 AM)
Anyone's been investing on silver?
I've been watching Robert T. Kiyosaki's video and he's praising Silver as a good way to preserve wealth, he even wrote in his latest book.
So i did a research on Silver which was about 2 months ago where the price was located at $25-27 p.o in average, but on Sept 13 my supplier from S'pore told me it will drop to $19-20 p.o, which on 15 Sept the price rapidly dropped to $20 check on http://silverprice.org/ and according to my supplier it will climb back to it's all-time high $50 soon. As people are starting to have their eye on it.

To me Silver may seen to be a great way of preserving wealth and fighting off inflation, and it's much more affordable compare to Gold, thou i still enjoy see-ing a quick return from my investments such as Stocks or Forex.

So what do u guys think?  hmm.gif
*
"So what do u guys think?"

Some speculative or wild thoughts, can be idiotic to some.

To answer the question - what do you guys think.
1. Gold and silver price to go up in the short term (when panic comes in), but not
for long. Not when central banks crash. Just watching to see if that is going to
happen soon. If.

2. I expect to see electronic currency replacing worthless paper, instead of
gold and silver. if First world Order actually materialise. if.












prophetjul
post Mar 15 2011, 02:24 PM

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QUOTE(kucingfight @ Mar 12 2011, 04:34 PM)
i recently bought some silver bars here

competitive rates.
*
How much did you pay over spot silver prices?

i find investing in silver will cost you a very BIG premium. like 25 to 30%


Added on March 15, 2011, 2:33 pm]
QUOTE(nevermindlah @ Mar 15 2011, 01:06 PM)
.

To answer the question - what do you guys think.
1. Gold and silver price to go up in the short term (when panic comes in), but not
for long. Not when central banks crash. Just watching to see if that is going to
happen soon. If.

*
Where have you been last ten years?


user posted image


user posted image

This post has been edited by prophetjul: Mar 15 2011, 02:34 PM
PoliticalMetals
post Apr 1 2011, 03:39 PM

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Hi everyone,

I'm new here and find this thread very lively and informative. Great to learn that so many are aware of the need to own physical silver. Having read every post from the beginning, I summarise that there are concerns about authenticity of some silver products, high premiums, import duties, dangers of "paper silver" (ETFs, etc), liquidity of the bullion assets, and a general lack of choice of reputable dealers and silver bullion products.

I started accumulating silver (and gold) several years ago and have found that besides holding coins in my personal custody, another more cost effective and convenient means of owning and holding physical silver (and gold) is through an Allocated Bullion Account with various Dealers of international repute. Since this option has not been discussed here, I'll share a few key points:-

(1) Safety - You own professional grade London Good Delivery Bars (Assayed, audited and stored in LBMA accredited vaults)
(2) Outright Ownership through a Bailment arrangement - Not a pooled account, bullion certificate program, ETF, etc.
(3) Extremely liquid - able to buy and sell online 24x7
(4) Cost effective - Very low spread and much lower premium compared to coins.
(5) Able to take personal custody of your metals if or when you wish.
(6) No minimums - You can start with 1 ounce!

The only "disadvantage" is that you'll have to pay a monthly storage and insurance fee. However, you'll be surprised to know that the premiums we pay some of these local dealers is more than sufficient to pay storage & insurance for several years!

My personal strategy is to hold just sufficient coins for emergencies (like bank run, sudden monetary crisis, currency debasement, etc). So this is like a "Savings Account". The balance is kept as "Fixed Deposit" at these internationally credited vaults. I've done a review on three of the companies I personally have been using for years. Do check them out.

(a) BullionVault
(b) GoldMoney
(3) Anglo Far East (AFE)

Here's the Comparison Chart, Fees Summary, and Basics of Allocated Bullion Accounts.

Hope this helps, and stay prepared! smile.gif

"Be prepared for a financial catastrophe - Not because we’re 100% sure it will happen, but because we can’t be a 100% sure it won’t happen" Chris Martenson.

This post has been edited by PoliticalMetals: Apr 1 2011, 04:02 PM

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