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 how to invest silver in malaysia

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spikyz
post Jul 26 2011, 11:11 PM

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Hi guys,

my fren introduce to me this company, arumainternational, they selling gold and silver. can they be trusted? i mean the gold n silver sell by them is d real deal?

or where can i buy gold and silver d most secured way? and not expensive as jewellery shop or bank
spikyz
post Jul 27 2011, 11:11 AM

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QUOTE(keii-kun @ Jul 27 2011, 01:51 AM)
refer to pubmutt's post on auruma possible scam
also be wary of vgmc gold scam.

if u want to buy gold or silver, buy in amount of money that you can sleep peacefully rather than worrying it goes up and down the next day or in other word, amount u can afford. do not just simply jump into the train because everyone is jumping on it laugh.gif
as recommended by some ppl, 1kg - pamp suisse @ 1stopgold. gold, there are many around.

read through this thread for 3 hrs, and it was very enlightening to see the discussion had blossomed to a very interesting discussion.

i bought my first silver, from goldchan - 2 x maple and 1 x eagle. july 2010. rm88 each. silvertowne was selling rm70 each. it was below usd20/oz that time. bought it just for fun.
regret for not taking an offer of 1 tubes of eagle at rm95 each from a guy in mudah. that was the price when it was usd22/oz.

goldchan's blog posting was very informative. congrats!  thumbup.gif  thumbup.gif he was also very helpful when posting abt one guy wanted to exchange 40 silver coins (eagles,maples) with 1 oz of gold  doh.gif  doh.gif  doh.gif
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thanks for your input bro. i read on the possible scam of auruma. i found 1 website stating it might be a scam. but i found many more websites say it is not. well i will read more on this.

yeah, i want to invest in small quantity first, just a silver, maybe around RM300~ permonth into silver. any suggestion whom i can buy from? i will search for goldchan post, and before this i come across silvergold blog by lowyat and active ebay seller, quite near to my place also to do COD. but the price is abit on d high side. so i hope you guys can recommend me any other seller so i could compare their prices. thanks alot =D

QUOTE(lustman @ Jul 27 2011, 07:34 AM)
you CANNOT have the best of both worlds.

my advice, always i mean always stay away from anything you're not sure of and there are many other options, trust me, they are.

read back the old posts and you'll find treasure of infos for you to make an educational decision.

anyways, the safest bet to buy gold bullion is from banks. UOB selling the cheapest physical gold (as far as i know) and lowest spread.

if you're worry about keeping it at home, then open the bank gold account.

that's it, simple as ABC and definitely a no brainer.

and this is my advice only and you DON'T have to listen to me.    icon_rolleyes.gif
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I went into UOB website yesterday to see their price on gold. not bad, i yet to have access on auruma prices. i would like to compare their prices, if the price of UOB just a little bit high than auruma, i still prefer UOB because its a bank and i feel more secure buying from them.

QUOTE(shadowxe957 @ Jul 27 2011, 08:15 AM)
I bought from aurumainternational last time. one thing for sure, they are not scam. they really deliver physical gold n silver.the company name is SG net from singapore. The best thing is that the company cooperates with Royal silver company which issue 99.999% of silver ( the purest silver coins in the world).
However, if you buy from them, make sure that you have to buy a lot. they ship the bullion by fedex, n damn expensive. Last time they offered Self collection, but now no more. So you have to bear shipping cost.

See the pic
user posted image
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could u share their prices with us bro? i mean gold n silver prices for today. so i could compare them. i check their website but cant find about their prices.

spikyz
post Jul 27 2011, 11:27 AM

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QUOTE(beginner2011 @ Jul 27 2011, 11:19 AM)
I'd went to their talk before and the speaker's is Jonathan which is one of TNA's boss. I suppose they have partnership with aurumainternational because they intro all the ppl in the talk to buy from here and also intro the MLM scheme.

Pros:
1. They have a shop in Mont Kiara which use to allow self-collection, but now no more.
2. Can use they platform to create your own business as it's MLM and you can start receiving commission once you join them with USD 299 and intro ppl to join.
3. Stocks will arrived in two weeks as promised
Cons:
1. 8 level MLM scheme. The price is much much much more expensive because they need to pay commission to agents. In investment, we shouldn't fall into this kinda scheme because your cost will gets higher and return will be generated in longer time.
2. On top of shipping, insurance and delivery, they also charge ADMIN FEES (don't know for what reason!!)
3. When purchasing, they charge you FEDEX rate for shipping, insurance and delivery and it's not cheap. They claim that the silver is shipped from S'pore but i really doubt it. The reason is when you receive the package, you notice that they're using UPS instead and they post it to you from MONT KIARA. UPS is much cheaper than FEDEX and this is a domestic delivery, not international delivery as claimed. So there's some CHEATING ELEMENTS here smile.gif
4. Limited variety.

I bought from them once after the attending the talks but i really regret doing so because really felt kena con ! wink.gif  So it's really the 1st and last time ! Lucky thing is I never join member smile.gif They tried to convince all the attendees during the talk. Better avoid all this kinda talks in future !

In summary, for me, aurumainternational.com is NOT a good place to buy silver and gold. Just my two cents !
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thanks for your info bro thumbup.gif really helpful for me. yeah i went for the talk as well. i think around last year..not so convinced at that time becoz for me, MLM is a big no no. i just interested with their claim that they sell gold n silver at cheap price.

anyway, now i interested at gold and silver, bcoz during last year..my fren who introduce me at auruma, bought gold for 1200, and now its 1600. and all that in 1 year. so its quite awesome, but im still careful and i want to find an alternative where i can buy gold n silver without need to do MLM and a cheap price. and yeah, trustable place to buy. im afraid to buy from these type of company that claim 99.999% of silver, and later find out it is not true. So i need to avoid that.

btw i will go thru this thread from page 1, to learn more.
spikyz
post Aug 1 2011, 07:28 AM

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i finally bought silver in coin, bought 2 andean cats from silverformalaysia. and yes, i followed an advice from a forumer here and finished reading from page 1. alot of information here, thanks guys.

thanks to beginner2011 whom pm me about silver websites and info on silver. its really helpful bro. Thanks again.

Btw i register to auruma as well, to get their price info. so before i buy anything, i compare prices between auruma, merlip, silverformalaysia and few others website. my preference is

1. Cheap price
2. C.O.D without the hassle for banking and postage.

What made i buy from silverformalaysia is because they offer a competitive price (merlip and silverformalaysia price is about d same) and they can do C.O.D on short notice, i call them on wednesday and they willing to C.O.D with me on thursday night itself. quite fast for me. for auruma..they selling more like rare and collection coins, well of coz its abit expensive bcoz of d rare coins, and 2 bad they usually dont have stocks. nway about auruma, if u want to be a member, u need to pay 299usd, but u can always buy without being a member..but i found their price is abit higher than others.. and i dont really keen on postage.

Btw i found out that coin seller in Malaysia usually up around 40% from spot price. For example, during time i bought silver coin, the spot price is 40usd=120MYR, and the seller are selling maple around 168MYR which is exactly 40% above spot price. Okay i know that custom tax is 15%, but where does 25% comes from? the mintage and transportation cost? could someone share info how the breakdown is? anyway 25% seems okay actually..haha but im just curious to see how the calculations are.

and 1 more question regarding perth mint.
1. If we buy more than 300AUD, the postage will be free? and how much they selling the normal silver coin (let say maple or phil) above spot price? is it worth it to get it from them? is it cheaper than buying from them rather locally?


spikyz
post Aug 1 2011, 12:07 PM

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QUOTE(lustman @ Aug 1 2011, 08:04 AM)
that's a good question but i think no way buyers will ever know the "actual" cost. yes, i believe it covers tax + transportation and these two are very high. don't forget about seller's profit.

unless you only buy a few pieces then you're good to go. most likely you'll escape tax.

if you're buying volume, i'd still prefer local sellers. the cost will be but you won't experience sleepless nights and you'll get the coins COD. to satisfy yourself, you could always give it a shot.
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Hmm.. yeah C.O.D is d best way. sleepless night is a big no no. haha i love my sleep time.

QUOTE(merlip @ Aug 1 2011, 09:00 AM)
buying silver at spot price is not at all easy to do..
it takes a good sort around to find silver bullion with a low premium..

silver coins generally have even higher mark ups than bars and
although they may be good for the numismatic coin enthusiast..

tax, shipping, insurance and storage/operating costs to consider..
these sellers charge a commission for the work they do ....                  oops.gif
all these add to the costs of buying silver coins doh.gif 

Unless your into silver for the very long term
it is better to buy locally..
icon_rolleyes.gif
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Hi merlip, thanks for answering my questions =D Remember me, im the one that sms you asking for C.O.D place, 2 bad ur battery have a problem that time sad.gif . I hope i can deal with you one day. cheers

QUOTE(magpie9 @ Aug 1 2011, 10:54 AM)


Actually we have to focus more on the spread rather than the premium.

SPREAD = Difference between buying and selling price

For instance:
Maple is selling at RM160 at the spot of USD 39.50. The spread given by the seller is 15%

SELLING OUT:
(SPOT * EXCHANGE RATE) + PREMIUM
= (USD 39.50 * 3) + 35%
= RM160

BUYING BACK:
RM160 - 15%
= RM 136

This means that even the seller is selling at 35% above spot. But in actual, you're only paying for 15% spread. 


The tip is, check out the spread from the seller you buy from. They will already have the formula.
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aah, cool. thanks for the info magpie, thats really helpful
spikyz
post Aug 1 2011, 03:59 PM

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QUOTE(asokakenji @ Aug 1 2011, 12:18 PM)
The price of the silver from auruma is cheaper compared to perth mint itself and other source. (if u compared same silver coin la)
just the fact that they use fedex because it is more secured.
In the end, it ends up they have higher cost due to more security for investor.
Auruma buying back the silver slightly above spot price as well.

Well, sadly they use fedex really costly. If they able to offer self collect, i think they will be great.

299$ is optional anyway,
how do u guys define mlm?
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agree, if can self collect it will be much cheaper. fedex cost around 15USD is really a turndown. anyway bro, are u auruma member? may i ask, let say they fedex the coins, do we still need to pay 15% tax to custom?
spikyz
post Aug 3 2011, 06:09 AM

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if never take out from airtite will it be okay? or d white spot will be appear but slower than if u store without airtight?

quite worried coz i have bought andean cat as well. heard d maple's white spot problem. and wonder if andean cat will be d same.
spikyz
post Aug 6 2011, 01:17 PM

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QUOTE(Taka_0 @ Aug 5 2011, 01:28 PM)
Hmmm. Is there any possibility for this price to come down at 35usd/oz? Or we reach d supportive level at 39?
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silver down to $38.., taka u might be right after all..
spikyz
post Aug 6 2011, 07:08 PM

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Andean cats lor. for 200 can get. but if u want more rare version.

then perhaps "save wildlife" version might excite u. or even transformer version. both available at perth mint website.
spikyz
post Aug 7 2011, 01:46 AM

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i mentioned to you. perth mint website.

here, i provide d link for you
http://www.perthmint.com.au/catalogue/2011...proof-coin.aspx
spikyz
post Aug 8 2011, 12:37 PM

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which dinar are u refering?

if kelantan dinar, its legal tender in Kelantan. And some dinar is legal tender in arab countries.

anyway silver is up at $40 from last week $38

This post has been edited by spikyz: Aug 8 2011, 12:37 PM
spikyz
post Aug 9 2011, 12:15 PM

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gold increase 100USD in 4 days..silver still stuck at same place. perhaps ppl focusing and buying more gold instead of other PM such as silver?
spikyz
post Aug 10 2011, 03:43 PM

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they now have these silver, 10 Dinar silver coin by royal silver company. is that what u talking about? how much isit?
spikyz
post Aug 10 2011, 05:28 PM

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QUOTE(smokymcpot @ Aug 10 2011, 03:54 PM)
Pm me also


Added on August 10, 2011, 3:55 pm@spikyz : Yup. Rm350
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i can get cheaper price for u. its 1World 10 Dinar Dirham 2011 right? 99999 purity. PM me
spikyz
post Aug 12 2011, 11:42 PM

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U guys lost me in the pips discussion. Haha. Silver price seems stagnant at 38-40USD.. waiting to shoot upwards perhaps. however Gold going down already.
spikyz
post Aug 14 2011, 11:03 PM

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QUOTE(eugenecctan @ Aug 14 2011, 05:23 PM)
100 x 2011 American Silver Eagles 1oz Fine Silver GEMS for US $4,368.00,
Worth?
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Around RM131 each..not bad i guess.. from local or ebay?

QUOTE(chef @ Aug 14 2011, 05:27 PM)
Hey guys, any recommendation where I can buy those plastic air tite with rubber ring around? I need about 20 pcs. price?

chef
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do u hav d pict? i havent seen airtite with rubber ring yet. interesting
spikyz
post Aug 15 2011, 05:52 PM

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QUOTE(smokymcpot @ Aug 15 2011, 02:18 PM)
Selling 2011 andean cat for rm250 and 2008 kookaburra for rm200. Cod only at pj hilton or gasing indah. Strictly no postage. Pm or contact me @zero one two 3433409


Added on August 15, 2011, 3:37 pmPrice reduced to rm350. Or trade with 2 eagles plus rm30
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smoky bro, are u sure u doing this right? we can see that at one point u want to buy dinar, then the next point u buying andean cat, den u looking for kookabura, den u selling ur cat and kookabura. and many times u want to sell at "cheap price". u will lose alot of monye if keep doing loss transaction like this.

anyway, just to tell u, andean cat is around 200. still got website that selling them for 200.

cheers
spikyz
post Aug 16 2011, 08:00 AM

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careful bro, if u keep changing ur mind (or investment) in this case. u will not learn much.. try to keep your cool and stay for same investment for some time, later u will learn the trade n tricks.

as im not mistaken, i saw on collector thread, now u collecting rare banknotes pulak -__-"

why pay expensive price for paper, old paper that have no value if there is emergency?

This post has been edited by spikyz: Aug 16 2011, 08:00 AM
spikyz
post Aug 16 2011, 11:34 AM

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at least u have money to buy tube every 2-3 months.

me can only do averaging, every month 1-2 bullion only. haha money kinda limited.

This post has been edited by spikyz: Aug 16 2011, 11:35 AM
spikyz
post Aug 17 2011, 12:18 AM

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QUOTE(Nidz @ Aug 16 2011, 11:50 PM)
if ure looking for eagles, i think u can purchase it locally.

http://www.silverformalaysia.com/p/bi-weekly-promotion.html

the price here is rm3150 for a tube of 20x 1oz coins. if u buy 3 tubes, around rm9450. u need not worry about tax, shipment risk etc and it is still cheaper than goldsilver.com... thumbup.gif

if ure concerned with the authenticity of the coins, u can ask the seller to weigh it one by one in front of u.
this is what i did.
the seller was very helpful and he shared with me his experience with silver coins.

anyway, im not an agent promoting the website. just a satisfied customer. rclxms.gif
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kinda agree, the seller quite responsive and friendly. even brought the machine to weight d coin. at first time met, i bring my own. so far so good. the price is reasonable to. 2 bad they dont sell gold as well =(

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