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 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.

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

Regards

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

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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

Thank you farisaiman. I stand corrected on manufacture location.

Rgds

Hi PoliticalMetals

Good to have some comparisons about unallocated storage costs etc. with the three PM storage facilities/bullion trader.

I think you may have missed one other major factor that makes GoldMoney preferred - that is, GoldMoney is also preferred by other bullion dealers such as Kitco.

Regards

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Added on April 11, 2011, 10:34 amGoldchan

You're thinking physicals all the time but I think that it would be too cumbersome. China had traded in physicals for a very long time before going to currencies backed by gold/silver.

Looking ahead into the future, we will still be looking at printed paper or digital funds linked to our accounts (think credits used in the comic series AD2000, if anyone can remember that).

Remember that VIA Mat storage used by GoldMoney isn't always delivered in physicals, but also as currencies when needed (can't say about Bullionvault or AFE as I didn't research them).

The present stable currencies subsequent to the demise of the US would be Canada, Australia, China and Singapore (surprise?), so, it would still be useful to have paper on you.

Most importantly, I'd like to stress that everyone who has read threads related to PMs - STOCK UP ON FOOD ITEMS!

It's all nice and good to look at PMs and that you've made 1000% out of it when it was $x way back when, but really - YOU CAN"T EAT IT.

Lastly, all the profits made from PMs aren't to be kept forever because there will be a time when it is revalued and you don't want to be there when it is because it will be too late (think Buy Low, Sell High).

The use of PMs to move from one asset class to the next is where you become very very wealthy, not by holding on to them glittery metals.

Regards

This post has been edited by pubmut: Apr 11 2011, 10:34 AM

Penangmee

As long as the safes are locked, it is up to the (surviving) owners to collect them since they are the only ones who have the combination to them.

Note that the Japanese are a much more disciplined people compared to the rest of the world, and I mean the rest of the world.

Have you heard any news about rioting, looting etc.? No? Well, I rest my case.

Ponder over this: Paper bullion can be erased by a single keystroke from an itchy/curious finger from anywhere around the world. At least the physicals can still be polished be used while the paper ones will essentially disintegrate (physically and electronically).

I'd like to mention a word of caution about liquidating bullion with this information:

The state of Utah became the first of 13 states to accept the Gold Eagle as part of their efforts to go back to the gold standard as it is deemed as legal tender.

I know it sounds like a big signal to the govt that the currency is coming to an end...

But what transpired after that needs to be clearly remembered - they are accepting the Gold Eagle at FACE VALUE.

Do you know what the face value of the Gold Eagle is?

Thought so.

Caveat emptor!

Ahem Wu Ming

Don't know which track you're on.

I was referring to Gold Eagle, NOT Scrap Gold or Junk Silver.

I was talking about Utah, NOT California.

Do you have a video from Utah that shows the same?

This post has been edited by pubmut: Apr 27 2011, 12:29 AM

Hmm...have you read in the local papers about black money, people being cheated of money and ladies sexually assaulted due to "bad spirits, bad fortune etc?"

Yes they are dumb people the world over and I'm quite surprised you missed that.

The biggest con job in the world is unfolding right before your very eyes and you seem to have missed that too.

What am I talking about?

"Federal Reserve"

If the Americans are a smart bunch then why aren't they all buying gold and silver?

Why did they put Bush Jr. in power?

"Only in America"

Doh!!

This post has been edited by pubmut: Apr 27 2011, 10:19 AM

We are seeing the ups and downs of precious metals of late. Some are like DOH! and others are like YEAH BABY!

So what is your exit strategy, if any?

You need to double check your facts Silverfreak.

You can buy from Kitco if you're willing to pay for the taxes. Cheaper alternative would be SG at 7%.

Apmex already has credit card price on its site, if you haven't checked.

Bank wire is a breeze, I don't know if your troublesome meant going to the bank.

Kitco prefers to sell coins over bars and they don't carry bars other than theirs (too large), so it's kind of a bummer. However, sending it to SG would be cheaper if you had a trusted proxy.

I think you didn't ask the right person from Apmex. However, the premiums they have on coins of late are far higher than buying from Kitco. You're better off buying bars from Apmex.

If you looked back into this thread early on, I had illustrated the cost per oz of a maple vs dirham.

The cost of buying a dirham per oz from nubex is far higher than that of buying an oz of maple from US.

If you're looking to just buy the odd dirham here and there then nubex is good for you, if you're buying bulk then look elsewhere.

DYODD.