Hi guys,

Been lurking around the forum for some time but today finally decided to register

I'm a small time collector & got a question to ask the veterans here. Is it worth it to buy 1oz silver bars at RM135 (approximate) as of this moment? They are Morgans & Westminister Mint bars are these popular?

Morgan bars & Westminister bars:

http://www.ebay.com/itm/3-1oz-Silver-Bars-...r-/110711314475

I see lots of different brands of 1oz silver bars (Pan Am, Silvertowne, Sunshine, etc) are they all accepable worldwide or only IRA certified are acceptable?

This post has been edited by bigwolf: Sep 1 2011, 03:26 AM

lol, that link was to show how morgan bars & westminister bars looks like. my supplier is overseas but selling very cheap, just slightly above spot, but problem is i have to buy in bulk, at least 100 pieces. its the shipping thats driving up the price, so if i can order more pieces, then the price can spread lower.

i'm thinking of starting some private trading side-business (buy in bulk & sell here to suppliers &/or collectors), but not sure if can work or not. Somemore logistics & money can be nightmare

Kitco spot = $42.63
Average price per 100 piece = RM135 - RM138 as long as spot is below 43

Worth it or not ya?

This post has been edited by bigwolf: Sep 1 2011, 10:15 AM

Ya, thats the problem. There might or might not be a correction for PM, but so far indicators seemed to suggest some correction soon. If buy now & price drop then die la. If buy low & sell high then different story

depends on how paranoid you are. some forums i've seen they keep their stash from a simple safe in the house to booby trapped safe & armed with 12 gauge shotgun to 3 sdb in 3 different countries

already 43.02. arghhh going too fast leh, steady a bit la

worried la. big jumps big falls la. best is up slowly, drop a bit, then up somemore a bit n so on. steady climb is the safest

my gut feeling only ya... no technical whatsoever:

blood bath in dow jones & pm on steroids climbing up for today n monday, might stabilize a bit on tuesday, wednesday onwards pm might get dangerously overbought while dow jones starts to look VERY attractive due to massively oversold. if thats the case, i wouldn't want to hold any pm by next week friday.

again, this is just my gut feeling. unless pm can stabilize within these 2-3 days (don't climb so fast!) then maybe can continue holding pm & see it go higher in steady mode.

this is interesting, although the entire article seems like a grand worldwide financial conspiracy

http://www.goldismoney2.com/showthread.php...New-floor-at-40

"The main battles for the banksters are in the silver markets and they are doing absolutely everything they can to project to the world that silver is not the place to be, silver is not a monetary metal and silver is not a safe haven.. but we know that is complete bull**** ... banksters are trying their best to protect silver, and not gold ... silver is the metal that can destroy the entire monetary system .. taking out JP Morgan would start a crash in the derivatives market that is unrecoverable ... and that's where all their power is going to protect the silver market so people don't rush in and buy physical silver."

JP Morgue will no doubt continue to manipulate markets and keep the silver price down. This is whyphysical silver holders must knowingly sit tight and play the waiting game. While the manipulation still persists, the silver markets will remain extremely volatile. Take this as your opportunity to "buy the f-ing dip (BTFD)". If you are patient, one day you will be rewarded. The day when JP Morgan completely loses control of its short position in silver and the physical price of silver decouples from the paper price will be one to remember."

which fb page ya?

curious & wanna ask all fellow silver bugs here:

1. Are you investor (keep silver for long term) or speculator (buy low & sell high) or mixture of both (keep but sell some if price is right)?
2. What type of pm do you prefer in gold/silver ratio? 50/50? 60/40? 100/0? 0/100, etc?
3. What is your favourite silver? Bars or coins?
4. In what size? 1oz, 10oz, 100oz, etc?
5. Whats the maximum price you'd willing to pay per 1oz of silver?
6. What is your pm target? (200oz silver/100gm gold; 1000oz/0gm; 0oz/500gm; 500oz/200gm; 50,000oz/3kg , etc)?

As for myself:

1. Mixture
2. 40/60 - Coz silver have higher potential due to its industrial & investment uses
3. Bars - Cheaper ma
4. 1oz - Easier to liquidate
5. Difficult to answer, I suppose depends on market rate ler. I'd say based on current sentiments, anything below USD50 spot rate? Buy on dips
6. As much as possible for both. Buy on dips & sell some if the price is right?

ahaaa, speculate in paper n keep in physical? nice, nice

https://www.kitcomm.com/showthread.php?t=91706

Interesting development... might be nothing, or might be market armageddon stuff. What do you guys think?

being a newbie here myself, I have no idea what is this thread's 'purpose' supposed to be. but then again, should we not be happy precious metals are getting so much attention nowadays. i mean, its natural if something goes up in value it will get more attention, no? or would you rather precious metals not go up in value and these 2 silver & gold threads are just 3 pages long with 1 post a week?

If the price offered is right, why not? Ofc, have to be careful la its not fake goods or whatnot. which is why my personal preference is 1oz bars

@spikyz

if i may say, thats a splendid idea...

1. Post on Garage Sales
2. Put the link on your sig

And it follows you wherever you post comments & no need to scroll back x pages to find your sale offer. Hey, thanks for teaching a newbie here a thing or 2

(Although I don't have anything to sell yet la )

Weird thing is ever since last week when chf pegged itself to euro, european markets have continued crashing down but gold & silver also went down while usd went up.

used to be euro market down = usd down = chf up = gold/silver up

15% spread, not cheap oh...

Too bad malaysia dun have silver accounts. i'd say silver has more long term potential than gold. dun get me wrong, i love physicals, there's something exciting, almost erotic holding and admiring a silver/gold bar in your hands but with physicals there's always a risk of theft & robbery. Thats why my gold investment is all in uob

have not dealt with mysmartgold before. but if you really want to store physicals in big numbers, maybe you can consider ordering academy or scottsdale bars. if not mistaken they have those 100oz stackers. thats like 3.11kg per bar

very hard to say ler, although its a possibility, but highly unlikely. thats because:

1. if you buy paper gold, most probably you already decided its for speculating and not for delivery. had you wanted physical in the first place, you'd buy physical n not paper at all
2. not sure abt other banks but i asked uob before and they advised if i want to take physical, i need to top up the price difference (1gm GIA vs. 1gm physical) and also RM150 conversion fees. So better to just liquidate the GIA and use the proceeds to buy physical. same price difference but you dont need to pay that RM150 fees.

Now my opinion here is that although the bank dont have the physical gold, you can still get back your money. And if the bank dont have physical for sale, you can always run to the nearest poh kong/wah chan/etc with the money and buy


Edit:

1oz australian nuggets/ maple leaf/ singapore lion = RM5,910
thats about RM190 per gm

Gold association malaysia = RM216 per gm
http://www.fgjam.org.my/

no wonder uob always out of stock

This post has been edited by bigwolf: Sep 14 2011, 12:11 PM

interesting, how do you do that?