Hi all, I m a newbie thinking to invest in silver. Few qs here

1) Do i have to buy physical silver? Or any passbook like gold?

2) Any bank offering such investment?

3) I saw the pamp suiise lady fortuna 1 OZ bar selling for rm 225, if compare to current silver price 1OZ around rm323. why is the bar price so low?

This post has been edited by tzkhoo: Nov 19 2011, 06:04 PM

There is no silver account like gold because silver price is relatively low compare to gold.buy silver now before u missed the boat.good luck!

1. Yes. You have to buy physical. If you buy paper precious metal (like passbook / ETF / etc), you are missing out the whole point of buying precious metal. Unless you are looking for a quick trade within days - or maximum, weeks.

2. Not in Malaysia. The nearest bank that offers such investment is in Singapore. You need to be a residence there. And the annual fee they are charging you cost you a boom.

3. You got the current silver price for 1oz wrong. If you need more information determining the silver price, please check out this post:
Silver Price in Malaysia

Hope it helps

This post has been edited by property101: Nov 19 2011, 07:20 PM

so meaning there is no bank doing it like the gold passbook thing. All I need to do is to purchase the physical silver & keep?

Yes

Thanks for the explaination. Now i see the picture. So the silver price is not fixed, all depends on buyer & seller only.

Thanks again Sifu!!

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Added on November 19, 2011, 7:56 pmFor investor type, preferably buy silver in bar? The smallest bar is 1oz silver bar like 1 oz PAMP SUISSE Lady Fortuna 999 Silver Bar rite?

This post has been edited by tzkhoo: Nov 19 2011, 07:56 PM

1 oz PAMP SUISSE Lady Fortuna 999 can be considered one of the most expensive bar in the market.

for investment, there are 2 types of physical silver you can buy:
1. bar
2. coin
Both has it own set of pros and cons.

1. bar is more value-for-money. the price you pay is closest to the spot price. bar is best if u are preparing for the doom day to come. 1 oz of silver will still be 1 oz of silver. the people who are interested in ur silver will probably melt it and use it for something else, probably industry use. of course that was the worst case. under normal circumstances, ur physical silver bar will still be able to appreciate (depending on spot price though)

2. coin would be good if you value the numismatics value of the coin. for example recently dragon coin has been very popular. or you can consider buying limited mintage silver coins. you pay a relatively higher premium for 1 oz of silver coin, but *who knows* one day your coin will be in high demand.

i have another post on the different types of silver you can buy in my website, here is the page:
Type of Silver in Malaysia

Hi,

I think the only way you can put it in air tite container is to buy those lock and lock tupper ware. comes in many sizes and it's air tite, put in some silica gel or charcoal or chalk to keep it fresh. how many bars are we talking about?

Anyway, I only seal it in ziplock bag and put in tupper ware, so far no tarnish, and if it's kilo bar, nobody will be too upset with the looks of the silver, they will only be interested in shining coin, not large bars.

chef

PS You bought this kilo bar recently? how much? from 1stopgold?

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Added on November 19, 2011, 9:27 pmWell, after talking to taurus, I do think I should start looking at some real estate, most of my friends made their fortune in real estate.

But without at least a certain amount of cash in hand, it's beyond most people's reach.

I believe there are working class and student here who would say real estate are way way beyond their reach, so that is why I say "big boys toys" not as in the millionaire type of big boys, but those with say RM 50k to RM 200k in the bank doing nothing, those should be invested.

Anyway, I'm surely seriously looking into those now, once I get my addiction away from silver and gold.

chef


This post has been edited by chef: Nov 19 2011, 09:27 PM

Is it compulsory to keep in air tite casing or container for silver coin/ small bar i.e 100g?

well, not really, keeping it from the air prevents it from becoming yellow (tarnishing) or growing white spot.

big or small bars, it is susceptible to such environment attacks, but for 999 bars, not that bad, poured bars are even less so.

chef

hey all, tomorrow before going back to johor anyone interested to have a look on perth mint 9 dragon coloured coin set can pm me ~ i am be going to sunway for shopping tomorrow keke



This post has been edited by basSist: Nov 20 2011, 01:46 AM

Folks, good reading for a 6% drop in silver.

The SILVER PRICE was taken to the same woodshed as gold. Once it broke 3350c on Thursday, silver never stopped until it hit 3088c. Today it rebounded, but not with anything more than a dead cat bounce to 3250c.

To gainsay this breakdown, silver would have to close above 3250c then rapidly above 3400c.

Down below several landing zones appear possible. 3000c is one, then 2850, and finally 2600c. Lower prices are possible, but not likely.

I expect to see most of the metals' downside in the next two weeks, if not sooner. DON'T MISS THIS: Right now, when every timid heart, including your own, is trembling, audacity and a cool head will pay off. Now is the time to buy, not when all the silly media cheerleaders have discovered a strong upward trend and prices are running away to the upside.

GOLD SILVER RATIO swappers should mark that my commentary yesterday contained an error. I meant to recommend you swap silver for GOLD, not vice versa. Ratio is rising, which means silver is growing cheaper against gold, and we always swap from the dear metal into the cheap. If you swapped silver for gold in the spring at any level lower than 42:1, you can swap gold for silver now and realize gains in silver ounces above 28.5%. Me, I would scoop those ounces off the table and into my lap.

SWAPPERS who swapped higher than 42:1 keep on waiting for a 57.5:1 ratio, which may come soon.

Delude not thyself, neither listen to siren voices blaring that the precious metals bull market has ended. It has not, and will run to yet greater heights in the next 3-10 years.


US DOLLAR INDEX dropped 20.1 basis points today (0.26%) to 78.081, but look, folks, it jumped in one week 117.5 basis points 1.5%. Money fleeing Europe is driving it, and will drive it. It is rallying, and could reach 83.15.

The Japanese Nice Government Men will have to tame the rambunctious yen, and right soon. Without exports, Japan will become an island of unsalable parked cars. They've hit it twice since the earthquake, but every time it comes right back -- lots of scared money out there looking for a refuge. They must hit it again soon. Today at 129.98c/Y100 (Y76.93/$1).

The world is so scared of the Euro that it has gapped down twice in the last two weeks and will continue to fall toward 1.2000. Closed today 1.3515, up 0.39%.

We have a beautiful glowing red-orange fall sunset here this evening, better than fine wine.

Y'all enjoy your weekend!

Argentum et aurum comparenda sunt -- -- Gold and silver must be bought.

- Franklin Sanders, The Moneychanger
The-MoneyChanger.com


To avoid confusion, please remember that the comments above have a very short time horizon. Always invest with the primary trend. Gold's primary trend is up, targeting at least $3,130.00; silver's primary is up targeting 16:1 gold/silver ratio or $195.66; stocks' primary trend is down, targeting Dow under 2,900 and worth only one ounce of gold; US$ or US$-denominated assets, primary trend down; real estate bubble has burst, primary trend down.

WARNING AND DISCLAIMER. Be advised and warned:

Do NOT use these commentaries to trade futures contracts. I don't intend them for that or write them with that short term trading outlook. I write them for long-term investors in physical metals. Take them as entertainment, but not as a timing service for futures.

NOR do I recommend investing in gold or silver Exchange Trade Funds (ETFs). Those are NOT physical metal and I fear one day one or another may go up in smoke. Unless you can breathe smoke, stay away. Call me paranoid, but the surviving rabbit is wary of traps.

NOR do I recommend trading futures options or other leveraged paper gold and silver products. These are not for the inexperienced.

NOR do I recommend buying gold and silver on margin or with debt.

What DO I recommend? Physical gold and silver coins and bars in your own hands.

One final warning: NEVER insert a 747 Jumbo Jet up your nose.

how do we know whether the silver we buy is not smuggled good @ not paying tax

as a investor / collector, you do not care. whether it is smuggled or not paid tax, it's not a concern. as long as u hold the silver in ur hand, thats the safest thing already.

Well, like someone mentioned to me, All those bars and coins selling at incredible price, are people who have connection with the custom and thus, "tax free" and they are the one committing the crime on your behalf, like property said, as long as the silver is in your hands, it's not relevant.

on the other hand, gold chain and necklace could be from robbers and those I would consider blood gold, which I hope most of you are decent enough not to buy jewelry from unknown source. buy bars with certificate.

chef

PS Any of you guys out there selling gold? or am I looking at the wrong place? anyone can point to me where people are selling gold bars (small 20 to 50g) not from a shop but individual investor?

thanks.

Noted. Thanks

Chef,

why are you searching gold from individual seller rather than shop? Any good reason or thought to share?

'

bro, u really need to join our fb group..1oz pamp suisse 225? that way over price. at our group, got seller sell around 160 only

Bro chef, you can check out "Gold Lot Shop" in Facebook. There's quite a market there though so far I noticed 1stopgold gives the best price for gold. They're only limited to PAMP though.

ur fb group is?