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 Silver as investment V2, Don't cry, buy now.

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cruzzie73
post Nov 2 2011, 11:51 AM

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Looks like the market has not confirmed its uptrend yet, neither has it decided to drop. But we may see some interesting action some time this month.

Yes, market manipulation is in effect. Doesn't matter if you miss the news, as it is only a report on events that has already happened. Most of the time they look around for events that they can use to justify those manipulated movements at that current moment. That is why we see so many times the market movements do not correlate with news that happened just a week ago, as if those past events never happened before.
marcusboy
post Nov 2 2011, 02:33 PM

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QUOTE(Nidz @ Nov 2 2011, 09:15 AM)
Tax is 15%.
I think this is somewhat true if your item is less than rm500 and sent through air, it wont be taxed. If by sea, it still will be taxed. I overheard the officer explaining this to a guy.

But it also depends on your package size.
I just got my Gilded and Colored Dragons from the Customs detention nearby LCCT.
Since my order consist of 7 coins, the package is quite big. It attracts the attention of the customs officer to hold it.
I went there personally to clear it since it is my first time, I also want to know how they work.
FYI, the package from Perth Mint is sealed properly and it was declared as 'Metal Sample' instead of Silver Coins. But the value of the parcel follows the invoice from Perth Mint.

The parcel wasn't opened, but instead they asked me what's inside. I told them it's silver coins. They say tax is 15%. After going through several counters to pay and clear this thing, lastly they asked me 'Don't you want to check the parcel, see if everything is inside?'

I was like, ermm, they wanna see what's inside, but they don't want to force me. Never mind, I just open and show them the coins.

Nevertheless, I know some friend who order from Perth Mint also, but in smaller quantity, around 3-4 coins only. He wasn't taxed.

Based on this experience:

1) Order your package in small quantity. Right now Perth Mint offers minimum purchase of AUD75 to get free shipment. Make use of that offer. I know I am. brows.gif
2) If you can negotiate with the seller to under-declare the value (put it at the spot price) or declare the item as gifts, it will also help. whistling.gif
3) Or you just can save the hassle by just buying bars... sweat.gif
*
Good advice, Nidz.

SUSgogo2
post Nov 2 2011, 02:47 PM

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QUOTE(Nidz @ Nov 2 2011, 09:15 AM)
Tax is 15%.
I think this is somewhat true if your item is less than rm500 and sent through air, it wont be taxed. If by sea, it still will be taxed. I overheard the officer explaining this to a guy.

But it also depends on your package size.
I just got my Gilded and Colored Dragons from the Customs detention nearby LCCT.
Since my order consist of 7 coins, the package is quite big. It attracts the attention of the customs officer to hold it.
I went there personally to clear it since it is my first time, I also want to know how they work.
FYI, the package from Perth Mint is sealed properly and it was declared as 'Metal Sample' instead of Silver Coins. But the value of the parcel follows the invoice from Perth Mint.

The parcel wasn't opened, but instead they asked me what's inside. I told them it's silver coins. They say tax is 15%. After going through several counters to pay and clear this thing, lastly they asked me 'Don't you want to check the parcel, see if everything is inside?'

I was like, ermm, they wanna see what's inside, but they don't want to force me. Never mind, I just open and show them the coins.

Nevertheless, I know some friend who order from Perth Mint also, but in smaller quantity, around 3-4 coins only. He wasn't taxed.

Based on this experience:

1) Order your package in small quantity. Right now Perth Mint offers minimum purchase of AUD75 to get free shipment. Make use of that offer. I know I am. brows.gif
2) If you can negotiate with the seller to under-declare the value (put it at the spot price) or declare the item as gifts, it will also help. whistling.gif
3) Or you just can save the hassle by just buying bars... sweat.gif
*
I also bought 4 coins only. 2 colored (1oz + 1/2oz) and 2 gilded dragon. They are very beautiful especially the red one.

And I didn't get taxed. Its >RM1000. So I'm not sure is it because it is sent through Pos Laju? According to Perth Mint, if sent through Fedex kena tax. If through Pos Laju no tax.
8181
post Nov 2 2011, 02:54 PM

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Seeing all of you not getting tax in Malaysia is making me furious with the government here. LoL, sometimes you just wish they can be less competent.
hitsugaya2010
post Nov 2 2011, 03:07 PM

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Poslaju reliable? My friend told me that if the customs get suspicious, they straight open up ur box and who knows they might steal ur things? still reluctant to buy from overseas...erm...
btw anyone brought from www.apmex.com b4? got problem with postage?

This post has been edited by hitsugaya2010: Nov 2 2011, 03:22 PM
SUSgogo2
post Nov 2 2011, 03:59 PM

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QUOTE(8181 @ Nov 2 2011, 02:54 PM)
Seeing all of you not getting tax in Malaysia is making me furious with the government here. LoL, sometimes you just wish they can be less competent.
*
I think I got lucky first time buy numistic coin. I already expect to pay 15% tax because you all said sure kena tax one.

Anyway, probably this is my final buy of numistic coin.

My next investment on silver will be bullion or the cheaper coin.
8181
post Nov 2 2011, 04:03 PM

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QUOTE(hitsugaya2010 @ Nov 2 2011, 03:07 PM)
Poslaju reliable? My friend told me that if the customs get suspicious, they straight open up ur box and who knows they might steal ur things? still reluctant to buy from overseas...erm...
btw anyone brought from www.apmex.com b4? got problem with postage?
*
Poslaju, not too sure, but kastam they will ask you to go there to open the package. smile.gif
chef
post Nov 2 2011, 05:04 PM

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QUOTE(8181 @ Nov 2 2011, 04:03 PM)
Poslaju, not too sure, but kastam they will ask you to go there to open the package.  smile.gif
*
Hey guys,

We are all talking about malaysia custom here, so it's like talking about... "Hey I was at genting and I win RM 500 yesterday" Then the other guy say "no you're wrong! I lost RM 2,000 the same day! how can this be?" And the third guy say " come on, no such thing, I didn't win or lose money, you guys kidding me?"

It really depend on luck, even if the package is small, if it catches the custom's eye, too bad. small amount they know cannot get too much, they close one eye. Also, can you guys stop openning package in front of the custom officer anymore? once they know PERTH MINT ship silver and gold coin, it will just grab their attention everytime they see perth mint or other MINT on the shipper's name.

chef

PS everyone feel free to buy overseas, but the few experience I have and goldchan have is the same :
- be ready to wait up to 4 months for your shipment.
- Supplier may play you out and there's nothing you can do about it
- Custom tax is random, coins or bars, sales tax can be imposed at their whim
- after selling a large amount of silver, malaysia IRA will come asking you for TAX from your income.

Anyway, Good luck guys!! I need it too, as one of my shipment from overseas I have to call them every day for the past weeks to get update and they couldn't be bothered to give me one. sad.gif

Hey thanks property, for the nice comment, I was just doing what I should do, as a businessman. Anyway, let me know if you need more coins.

And guys, as mentioned above, I'm chasing for the delayed shipment, once I have the confirmation delivery, i will inform you all, hold your horses. special coins and those no longer in production are really hard to come by, so it may take a while.


This post has been edited by chef: Nov 2 2011, 05:23 PM
razman2050
post Nov 2 2011, 05:05 PM

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aiseyy all the trafic going to FB. me don't have FB account la....not IT savvy or got time into those thing.
nway, silver has gone down a bit, but no bullet anymore la...
Nidz
post Nov 2 2011, 05:07 PM

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QUOTE(gogo2 @ Nov 2 2011, 02:47 PM)
I also bought 4 coins only. 2 colored (1oz + 1/2oz) and 2 gilded dragon. They are very beautiful especially the red one.

And I didn't get taxed. Its >RM1000. So I'm not sure is it because it is sent through Pos Laju? According to Perth Mint, if sent through Fedex kena tax. If through Pos Laju no tax.
*
I think, if use Fedex sure kena tax.
Yours is using AustPost ECI (Express Courier International). Once it arrives here, it will be taken over by PosLaju. This is the same with any national Post Service such as USPS, Royal Mail UK etc.
In your case, even though the value is more than RM1k, maybe because the package is small, they just let it pass.

My case, they post it also through Aust Post ECI. But since my package is bigger, it was held by the customs. Since it was held, PosLaju, being the local handler, sent me a notice about it. The options are go there and clear it myself or appoint them (PosLaju/PosMalaysia) to clear it for RM50 handling fees, not including tax.

FYI, the Customs and Pos Malaysia share the same building in Pusat Mel & Kurier, near LCCT, beside Tune Hotel. Every parcel coming in from overseas through KLIA will go through this center before being sent to the addressee.
SUSgogo2
post Nov 2 2011, 05:58 PM

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QUOTE(Nidz @ Nov 2 2011, 05:07 PM)
I think, if use Fedex sure kena tax.
Yours is using AustPost ECI (Express Courier International). Once it arrives here, it will be taken over by PosLaju. This is the same with any national Post Service such as USPS, Royal Mail UK etc.
In your case, even though the value is more than RM1k, maybe because the package is small, they just let it pass.

My case, they post it also through Aust Post ECI. But since my package is bigger, it was held by the customs. Since it was held, PosLaju, being the local handler, sent me a notice about it. The options are go there and clear it myself or appoint them (PosLaju/PosMalaysia) to clear it for RM50 handling fees, not including tax.

FYI, the Customs and Pos Malaysia share the same building in Pusat Mel & Kurier, near LCCT, beside Tune Hotel. Every parcel coming in from overseas through KLIA will go through this center before being sent to the addressee.
*
Oh, thanks for the info again. Have to make sure the package look small.

stonkong
post Nov 2 2011, 06:02 PM

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actually, like wat chef is comment, all depends on luck. One of the buyer even only buy one coin from perth mint, also get tax. (Info from cari.com)

To Chef, we will wait patiently. Keep the hard work.
marcusboy
post Nov 2 2011, 06:39 PM

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QUOTE(chef @ Nov 2 2011, 05:04 PM)
Hey guys,

We are all talking about malaysia custom here, so it's like talking about... "Hey I was at genting and I win RM 500 yesterday" Then the other guy say "no you're wrong! I lost RM 2,000 the same day! how can this be?" And the third guy say " come on, no such thing, I didn't win or lose money, you guys kidding me?"

It really depend on luck, even if the package is small, if it catches the custom's eye, too bad. small amount they know cannot get too much, they close one eye. Also, can you guys stop openning package in front of the custom officer anymore? once they know PERTH MINT ship silver and gold coin, it will just grab their attention everytime they see perth mint or other MINT on the shipper's name.

chef


Hi Chef, can I ask what other coins etc do you have coming?

PS everyone feel free to buy overseas, but the few experience I have and goldchan have is the same :
- be ready to wait up to 4 months for your shipment.
- Supplier may play you out and there's nothing you can do about it
- Custom tax is random, coins or bars, sales tax can be imposed at their whim
- after selling a large amount of silver, malaysia IRA will come asking you for TAX from your income.

Anyway, Good luck guys!! I need it too, as one of my shipment from overseas I have to call them every day for the past weeks to get update and they couldn't be bothered to give me one. sad.gif

Hey thanks property, for the nice comment, I was just doing what I should do, as a businessman. Anyway, let me know if you need more coins.

And guys, as mentioned above, I'm chasing for the delayed shipment, once I have the confirmation delivery, i will inform you all, hold your horses. special coins and those no longer in production are really hard to come by, so it may take a while.
*

Added on November 2, 2011, 6:43 pm
QUOTE(chef @ Nov 2 2011, 05:04 PM)
Hey guys,

We are all talking about malaysia custom here, so it's like talking about... "Hey I was at genting and I win RM 500 yesterday" Then the other guy say "no you're wrong! I lost RM 2,000 the same day! how can this be?" And the third guy say " come on, no such thing, I didn't win or lose money, you guys kidding me?"

It really depend on luck, even if the package is small, if it catches the custom's eye, too bad. small amount they know cannot get too much, they close one eye. Also, can you guys stop openning package in front of the custom officer anymore? once they know PERTH MINT ship silver and gold coin, it will just grab their attention everytime they see perth mint or other MINT on the shipper's name.

chef




Like to know what you have coming?

PS everyone feel free to buy overseas, but the few experience I have and goldchan have is the same :
- be ready to wait up to 4 months for your shipment.
- Supplier may play you out and there's nothing you can do about it
- Custom tax is random, coins or bars, sales tax can be imposed at their whim
- after selling a large amount of silver, malaysia IRA will come asking you for TAX from your income.

Anyway, Good luck guys!! I need it too, as one of my shipment from overseas I have to call them every day for the past weeks to get update and they couldn't be bothered to give me one. sad.gif

Hey thanks property, for the nice comment, I was just doing what I should do, as a businessman. Anyway, let me know if you need more coins.

And guys, as mentioned above, I'm chasing for the delayed shipment, once I have the confirmation delivery, i will inform you all, hold your horses. special coins and those no longer in production are really hard to come by, so it may take a while.
*
This post has been edited by marcusboy: Nov 2 2011, 06:43 PM
razman2050
post Nov 2 2011, 07:13 PM

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that's why i prefer to buy from local seller and COD. i don't think i can rest in peace waiting for shipment up to 4 months.... also the hassle of going to the custom, time is money. i rather pay a little extra and have peace of mind.
GoldChan
post Nov 2 2011, 09:03 PM

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aiyah, if custom inside lowyat forum then from now on
everything from perth mint kena tax.

QUOTE(chef @ Nov 2 2011, 05:04 PM)

Hey guys,

We are all talking about malaysia custom here, so it's like talking about... "Hey I was at genting and I win RM 500 yesterday" Then the other guy say "no you're wrong! I lost RM 2,000 the same day! how can this be?" And the third guy say " come on, no such thing, I didn't win or lose money, you guys kidding me?"

It really depend on luck, even if the package is small, if it catches the custom's eye, too bad. small amount they know cannot get too much, they close one eye. Also, can you guys stop openning package in front of the custom officer anymore? once they know PERTH MINT ship silver and gold coin, it will just grab their attention everytime they see perth mint or other MINT on the shipper's name.

chef

PS everyone feel free to buy overseas, but the few experience I have and goldchan have is the same :
- be ready to wait up to 4 months for your shipment.
- Supplier may play you out and there's nothing you can do about it
- Custom tax is random, coins or bars, sales tax can be imposed at their whim
- after selling a large amount of silver, malaysia IRA will come asking you for TAX from your income.

Anyway, Good luck guys!! I need it too, as one of my shipment from overseas I have to call them every day for the past weeks to get update and they couldn't be bothered to give me one. sad.gif

Hey thanks property, for the nice comment, I was just doing what I should do, as a businessman. Anyway, let me know if you need more coins.

And guys, as mentioned above, I'm chasing for the delayed shipment, once I have the confirmation delivery, i will inform you all, hold your horses. special coins and those no longer in production are really hard to come by, so it may take a while.
*
TSchunyen2020
post Nov 2 2011, 09:54 PM

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Well, to conclude this.
No 100% way that we can run away from the tax.
Getting the tax or not depends on luck.
razman2050
post Nov 2 2011, 10:17 PM

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fuyoohhh!!! silver uptrend again.
i like it coz it provides several opportunities to buy low....
TSchunyen2020
post Nov 2 2011, 10:22 PM

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Not very sure about this.
But it seems Malaysia silver market can't absorb that much of silver recently?
chef
post Nov 2 2011, 10:41 PM

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Hi guys,

Here's what coming, but some have to wait for a month or more..

- kook 2011 (all pre-ordered and booked, only a few pieces of mine I will sell to anyone who wants)
- pamp dragon (this one from bigwolf, not my own shipment)
- somalia elephant past year (I think 2011, 2010 and some older year)
- lunar tiger 2010 1oz (only a few pieces)
- Lunar dragon 2012 1oz (ordered long ago and still waiting)
- 5oz scottsdale prey bar
- kilo dragon coin (this is ordered by someone)

chef

PS all are a few pieces, ordered over a period of 2 months, addicted and overbought. ha ha...


Added on November 2, 2011, 10:50 pm
QUOTE(GoldChan @ Nov 2 2011, 09:03 PM)
aiyah, if custom inside lowyat forum then from now on
everything from perth mint kena tax.
*
Hi Chan,

I think we can be very sure that, there are custom people in this forum already. long ago. ha ha... again, still depend on luck if tax or not, if the declared amount too small, they may ignore the package.



I also saw someone mentioned to get the supplier under declare the value.

But getting the mint to under declare the goods you risk having the item lost in malaysia mail and the insurance will not pay for your loss. The supplier gets a bad name and they also lose you as a customer. And lastly, if the supplier is not decent, they may even send useless stuff and say that someone switch the package and they are not responsible for your loss.

Many risk are to be taken, and most of these depends on your luck, I'm a businessman and I have been thru these for 20 years dealing with customs from europe to india to middle eat to asia. so these are part and parcel of life new business people must be prepared to take. Chan has lots of direct experience with dealing in silver, so heed his advise. I'm learning mine...

chef


This post has been edited by chef: Nov 2 2011, 10:50 PM
razman2050
post Nov 2 2011, 10:50 PM

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QUOTE(chef @ Nov 2 2011, 10:41 PM)
Hi guys,

Here's what coming, but some have to wait for a month or more..

- kook 2011 (all pre-ordered and booked, only a few pieces of mine I will sell to anyone who wants)
- pamp dragon (this one from bigwolf, not my own shipment)
- somalia elephant past year (I think 2011, 2010 and some older year)
- lunar tiger 2010 1oz (only a few pieces)
- Lunar dragon 2012 1oz (ordered long ago and still waiting)
- 5oz scottsdale prey bar
- kilo dragon coin (this is ordered by someone)

chef

PS all are a few pieces, ordered over a period of 2 months, addicted and overbought. ha ha...
*
PAMP dragon sounds delicious....haa..haa...
would love to have some for personal collection (syok sendiri)

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