1 dirham = 2.975 gram fine .999 silver

current price is RM25

dirham is used as currency to buy goods. totally cannot compare with 1oz silver coin. other reason is related to islam.

lustman,

until kelantan able to fix goods priced to dirham (rather than converting the value of dirham) , subsituting dinar n dirham over fiat money would not be as successful as expected. people are not treating dinars as commodity nowadays

the only thing i know that is fixed is a goat is 1 dinar (917 4.25gm gold) 1400yrs ago until today, and some goat farm accept dinar.

like i said, it's related to islam and not only about buying goods, etc, so i wouldn't go there.

if anyone's interested just buy a set and keep as collection

woot ... silver price is dropping ... another shopping time ?

Let's wait till 2nd August then only decide

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Added on July 29, 2011, 1:34 amGuys, check this out about AURUMA INTERNATIONAL. I was surfing and found some reviews. Below is the snapshot.. read the full article from the below link.

http://www.aurumainternational.net/


Auruma International - review page.
This website contains information about Auruma International and if it is a scam.
Click here to see the latest update.

There's a bit to read, and I will be updating this page periodically.

A little earlier this year an acquaintance invited me to a meeting in Queensland, Australia held by a company named Auruma International.

If you're visiting this website it is likely you have had a similar experience, with somebody you know telling you about a 'great opportunity'.

At the meeting I met a few people who had also been invited by other people. Some of these people were attending meetings for the second or even third time - they were that excited!

At first the presenters give very scarce details about the nature of this so-called 'great opportunity'. They bring a disclaimer to your attention stating that none of the presentation is to be considered financial advice. Such disclaimers are the first alarm-bell that something dodgy is going on, in my opinion. It also means what they are about to tell you is blatant financial advice and they think their disclaimer has them covered. If only...

What happens next is a series of introductions to dubious looking characters. They have very poor presentation skills, yet I was amazed at how many other people seemed so engaged with them. I guess greed sways most people's common-sense. Then you see a cheesy video presentation detailing their vision and the Auruma difference.

The presentation goes on for a while longer. In a nutshell, Auruma International offers you the chance to buy gold or silver - that is, bullion bars - and store them in Singapore in a secure vault facility. They imply the bars are excellent investments with arguments that appear good on the screen but are heavily based on hindsight. But they're not there to sell you gold, really.

The truth is, Auruma International wants you to recruit other members, who will in turn recruit more members. You pay money for the right to do this, and you earn commission for each member you recruit and each member they recruit and so on. This goes on for 8 levels.

Sounds like a pyramid scheme? Yes, it essentially is.

It would be legitimate if Auruma just wanted to sell you gold, or wanted you to resell the gold and earn a comission. But the fact is Auruma is almost 100% obsessed with you starting an "Auruma Business Centre" (ABC) to recruit more people to start an ABC.

You have to buy a bar of gold or silver every month to 'activate' downline commissions - this is a trademark of most pyramid schemes. A true commission-based opportunity would require no investment on your behalf; it should only require your salesmanship.

An Auruma Business Centre costs about $300USD and includes a bunch of worthless items to justify the price, including a silver coin, bullion storage rights and a monthly newsletter. This $300USD sign-up fee goes mostly to Auruma, 20% to the referring member and the rest goes to paying for the coin, storage rights and newsletters (the things you wouldn't really be interested in, anyway).

Schemes like this have existed before - don't believe that Auruma has some kind of 'vision' of creating a better world.

The people operating this scheme are in it for themselves and there's no guarantee any products you buy from them will actually be put in a vault in Singapore, let alone exist.

Here's some questions that you might have been considering:

Why does Auruma International send a silver coin from the Perth Mint to every new ABC buyer? Surely this indicated they're legitimate.

Well, why don't they send one of their own silver bars? Probably because they don't actually produce much bullion at all. Think about it - if they want to sell bullion bars to thousands of people and store them in Singapore, surely they can send one bar to each person on signing up for an ABC?

Auruma also expects people to leave their bullion in storage overseas because nobody wants to a) pay for postage to their home country and b) pay tax on the bullion. This is convenient for Auruma, especially if the bullion doesn't exist. (Yes, Auruma does allow you to have the bullion shipped to your door, but I noticed in the meeting they discourage this. They probably expect very few people to actually ask for the bullion. And yes, you can inspect it at any time - again, they expect very few people to call their bluff and probably would just get enough bullion to cover this).

Why does Auruma International show samples of their actual bullion in meetings if they're such a fraud?

It's easy to get custom made bullion bars stamped.

Auruma's gold and silver is hallmarked (verified) by the Singapore Assay Office. It must be real.

Yes, but any bullion hallmarked by the Singapore Assay Office is unlikely to be readily accepted by global bullion purchasers. This is because the SAO is not recognised by The London Bullion Market Association. You are likely to have to get it professionally re-tested at your own expense.

It can't be a pyramid scheme - it deals with real products that have a genuine value!

You can say that, but the fact that Auruma International requires a huge sign-up fee which is partly distributed as a commission suggests it is a pyramid scheme. Think about it - you could recruit 1000 people to buy an ABC and then none of them actually buy any bullion. Yet you would still get 20% of all of their sign-up fees.

What does the Department of Fair Trading have to say?

I recently sent a letter to the offices of Fair Trading in both QLD and NSW detailing information about Auruma International and asking their opinion. Here is the NSW office response. (QLD is yet to respond - I might drop in in person soon).

Dear *** ******,

I refer to your correspondence dated ** ** 2010 regarding a "get rich quick" promotion.

NSW Fair Trading receives many complaints from individuals who have received material of this type that invites them to participate in "get-rich-quick" schemes. Schemes like this have operated in Australia for many years. They induce people to join in their promotion in the expectation of receiving money when new participants join.

Fair Trading has examined this matter and it is advised that the scheme appears to contravene the pyramid selling provisions in both Part 5D of the NSW Fair Trading Act 1987 and Section 65AAC of the Commonwealth Trade Practices Act. Contravention of these provisions may incur heavy penalties.

The legislation prohibits suppliers inducing consumers to purchase goods or services by representing that consumers will receive a reward for either giving the supplier the name of prospective customers, or receipt of the reward is contingent upon a subsequent event such as the purchase of the goods or services by other consumers.

Fair Trading's approach has been to educate the public about the risk of losing large sums of money and to urge them to ignore offers from promoters of "get rich quick" schemes. Over the years, Fair Trading has issued warning letters to participants and numerous press releases to warn the public and discourage participation in such schemes.

Further information regarding scams can be found on the Fair Trading website at www.fairtrading.nsw.gov.au

Fair Trading seeks your assistance in stamping out illegal schemes in our community. You can also help by alerting your family and friends that such schemes are illegal.

Thank you for bringing this matter to our attention.

Yours sincerely
****** *******
Customer Service Officer
** ** 2010

That's the NSW Office of Fair Trading's advice. We'd all do well by sticking to it in my opinion.

UPDATE

Here's one of Auruma's cringe-worthy videos:


1) "The current economic climate has many people worried... no part of the world has been spared" - Australia is actually recovering (the Reserve Bank even raised interest rates by 0.25% yesterday). Stop with the stupid truisms.

2) Look for the newspaper that darts across the screen at 36 seconds in - you'll see the print date is Monday, October 28, 1929. This coincides with the voiceover "Experts are forecasting a bleak outlook with no answers in sight". Right... Maybe in 1929 they were, but not when I last looked in my daily newspaper.

3) "We are here to share with you that all is not lost... there is a safer alternative to create, prosper, and preserve your wealth" - Too true, it's called a real job and disciplined saving with professional investment advice. NOT helping scam artists.

4) "In those days, 20 dollars would buy you a nice suit... 100 years on, 20 dollars would not buy you the same suit - 1000 dollars would". Actually, using an inflation calculator between 1900 and 2000 reveals that $412.57 would buy the same suit. www.westegg.com/inflation/

5) "That same nugget of gold would still buy you that suit". $20 worth of Gold in 1900 would only be worth $272 in 2000. So perhaps it wouldn't buy that suit http://www.wisegeek.com/what-is-the-histor...ice-of-gold.htm $20 invested in the stockmarket in 1900 would return 20 THOUSAND dollars on average by 2000, even after inflation is accounted for. http://www.moneychimp.com/features/market_cagr.htm . (That's a suit for you and 47 of your closest friends!)

6) "Zimbabwe is in dire economic state... gold is being used to trade for food" - Not true actually. They are currently using the United States dollar officially for Government transactions, and currency such as the Euro, South African Rand, Pound sterling and Botsawanan pula are also accepted in the country.

7) "The stockmarket can offer great rewards, but in terms of consistency and security, time has proven gold to be a safer bet." If you don't want your money to work for you, fair enough. You can, at least, mitigate the risk and buy gold from a reputable source that's industry recognised and doesn't operate under a pyramid scheme structure.

Here's the next video I will critique... What a trustworthy looking fellow:

Other things to consider

Auruma International wants you to open an EzyBonds account for your commission. Why is there no option to have the commission paid directly to an account of your choice, by cheque, or PayPal?

At the presentation they often say "We store our bullion in Singapore - trust us, Singapore is a place where you can't even chew gum. Their Government is very strict, so nothing dodgy can happen there". Don't fall for ridiculous arguments like this. It has been used by scammers in the past, and will be in the future.

If the Auruma gold price is so competitive, how can they afford to pay all of the upline commissions?

Links to consider

http://www.theage.com.au/money/on-the-mone...tml?comments=30

http://en.wikipedia.org/wiki/Pyramid_scheme

http://pyramidschemealert.org/resources/Go...%20arrested.pdf
About this page

I'm just a regular person who is trying to help others from making what is in my opinion a mistake. I am renting this domain name as a service to the community - I am privileged to be in a position where I am able to help others through this. Everything I have presented above is my unprofessional opinion, except the letter from the NSW Fair Trading. You should seek your own independent advice.

Don't be fooled by their promises, don't give in to their greed. Just go to one more Auruma meeting and you will see the delusion and hope in the returning members' eyes. And don't be fooled by the people running this scheme. It is in their interest to qualm your concerns.


This post has been edited by beginner2011: Jul 29 2011, 01:34 AM

Thats for the Islamic countries to use?
i prefer my silver 999

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Added on July 29, 2011, 7:57 amSilver worth: 2.975 grams of silver is 2.975/31.1 x $40 = $3.82 = Rm11

What else is in the dirham?

This post has been edited by prophetjul: Jul 29 2011, 07:57 AM

U R wrong again! never tries to predict the market for short term especially a manipulated one.

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Added on July 29, 2011, 10:37 amebay system and many others system the price changes has to be manually done.
web services cost $$ to subscribe for automatic changing of price. Cost a bom, I got to add RM2/oz for these services
R U sure u 1 it.

Thus seller have to update the price from time to time. well, U can also nego with the seller if the spot price goes down before U buy. Just sms , email or call them lah. get the deal done over the phone.
don't wait for your friends, etc. price won;t wait for u ok.



This post has been edited by GoldChan: Jul 29 2011, 10:37 AM

I currently have around extra 3k cash in hand... how can i invest other than put on bank? Can i buy silver? how? Thanks for advise...

Any review about 1oz Kookaburra 2011 coin fr PM?
I jst placed an order on it... hope my choice was correct

how many ounces did you buy?

how much per 1 oz or 1 tube?

This post has been edited by lustman: Jul 29 2011, 02:48 PM

Kookaburra is a very choice.

For those limited mintage bullion coins that the design changes every year, it's worth to invest or buy as collection. Below is some info about the coins and current pricing at spot USD39 - USD40.

1) 1oz Chinese Panda 2011
- 3,000,000 mintage
- RM170 - RM175

2) 1oz Australian Kookaburra 2011
- 500,000 mintage
- RM 170 - RM 185

3) 1oz Canadian Grizzly Bear 2011
- 1,000,000
- RM 168 - RM 175

I believe if you buy bulk the price will be cheaper

The above just serve as a reference based on my research from a few suppliers.

Hi Lustman,

I brought few only due to limited budget & naggin fr gf...
fr a local supplier & price was a bit cheaper than wat Magpie9 stated...

Hi Magpie9,

Thanks for ur comment, I cn reset assurance now

Can you show me local supplier that selling silver?

world at peace. Don;t want to kacau anyone lah. Business is tough I understand that.
well, i leave the coin to them at the moment.
your support is required so that they can bring more Ag to malaysia.

why so secretive, tell everyone here where and how much you buy so we can enjoy together having silver coins on our hands

is the supplier from secret society, just like the movie KL gangster?

This post has been edited by lustman: Jul 29 2011, 10:17 PM

Don not advise to buy silver? Only gold?

look.everybody is gonna have their own opinion about silver, my take on this is to do your own research and decide dont just listen to other people's opinion cause in the end you are responsible for your own money.according to robert kiyosaki, theres only bad investors no bad investments.

This post has been edited by SasukeKai: Jul 29 2011, 11:58 PM

I agree with you, but I'm interesting other opinions and it's explanations. Did you do any recesrcher about silver investments?

FYI. buying physical silver in malaysia is not "investment". the term has been manupilated heavily by unscroupulous silver/gold agents to brainwash the general public into buying their products.

so, what is it then? it depends why you want to buy silver at the first. many reasons for many people.

the good news is buying silver is a no brainer, so no deep research need to be done. the only thing you need to know is where to buy so you won't get conned.

This post has been edited by lustman: Jul 30 2011, 06:42 AM

and maybe where to sell too? selling at a higher price then the buy-in price?

where to get 999 silver. Any trusted institution?