Hoi touch wood. LoL.

Just bought silver from Goldchan yesterday. My 1st try to invest in precious metal of silver.

first thing you need to ask yourself, why would you want to invest in silver?

1. how liquid is silver depends on how fast you can find a buyer. paper silver is liquid because you can always sell it back to bank at anytime. unless if the bank go kaput. physical silver is the safest since you hold it, but, if you have alot, where do you store it safely? so, pros and cons.

2. there are a number of sellers in malaysia, public gold, ebay, forumers, etc. but generally silver in malaysia are sold at a pretty high premium. but some sellers might sell it to you at a reasonable premium, just shop around. or just hope the correction continues for longer.

3. silver are just like gold. some comes with certs, some dont. those that comes with certs are even more expensive. usually only collectors go for silver with certs. investors just focus on buying silver with the lowest premium possible.

how do you know the silver is fake or not? you don't. unless you are willing to cut up each of you silver bar and get it to be assayed. which makes no sense. you can try all those fake test techniques but in the end, you never know for sure. the best you can do, find a trusted seller.

which is why, in my opinion, i try to buy from company that has at least some credibility. usually overseas or buy straight from the mint itself. it's not that i don't trust individual sellers like ebay-ers, forumers (i did buy some from them), but the problem is, i do not know where they get their silvers. they might not even know if it's fake to begin with. it's the same like buying cigarettes from a kedai runcit, the chances of it being fake is higher than compared to if you buy it from 7-11. there might still be fakes ciggies in 7-11 but less likely. so in the end, buy from someone you trust.

there are risks also when buying from overseas company, you might still get fake but the risk is lower since they are already in business for decades and people worldwide are buying from them and they usually disclose their sources (usually they distribute for mints). there is also the paying up-front part and the waiting period for the shipment. usually weeks.

compared to buying locally from individual, you get it within days, or immediately if you cod.

so in the end, it's all up to what you prefer. buy oversea, pay up-front and wait a few weeks BUT less risk on fakes and cheaper. OR buy locally and get your silver immediately but with a higher premium and you have to trust your seller.

guys

kind new to the silver thingy .. i plan to buy around 15kg of silver . Source found , but still not sure if the right time to go in . Due fact on the price . Will it drop future ? Buy now or wait till it drop usd 30/oz