Bad news for me... I was intend to buy silver bar directly from oversea...

Bars WILL not be taxed. =_=
By the way, what brand your gonna buy?

Yes I know silver bars are not taxebal but I readh from previous posts someone (I cant recall his nickname) says the custom officers are so stupid and insist to imposed 15% tax onto silver bars... how great is this.

I actually dont have any specific brand to go for because I buy silver bars is for long term investment. Silver bars from any reputable mints is fine for me. PAMP suisse? I am thinking is it worth to pay for their name...

Hi,

Sad to say, it's true. I think the post was from goldchan and a few others. I'm also one who always have problem with custom as they tax WHATEVER they want. Unless you have time to go and sit down, drink coffee and explain to them why they should not tax you.

I am going to pay the custom in JB a visit on friday, to settle issue that is related to tax also, and the item (not related to silver or gold) is also not taxable, but they just slap a tax on it and HOPE that I will not go and ask them for discount or waive the tax.

The lesson to learn for everyone, even though something might be stated in the law that it is not taxable, every custom in the world has the right to put a tax on it, base on whatever HS code they want, then it's up to business people like us to waste our time and go talk to them.

You are going thru what many of us has gone thru in the past month, GOLDCHAN has been going thru this for the past year, he has got LOADS of experience. Personally, I would still try to buy the silver bar and see what happen. but some nice bars which is not too common, so you can easily sell them later. But you may end up buying at high price than what people are selling here (SLS)

For me? I have bought from many suppliers, been thru many lousy experience with them since august 2011, and now, I am settling down to buy bars from local. so that should tell you something. But I have matured to coins (not rounds) and finally, upgrading to gold now.

chef

I think that one is GoldChan.
From what I recall, the officer wanted to tax his bars. But finally he managed to convince the officer that bars are not taxable.
Mind you, this happens maybe few months or years back, I am not really sure.
But nowadays, customs officer are very familiar with silver products.
When I pay them a visit to settle the tax issue when importing dragon coins, they asked me whether the coins have face value or not.
I think, if the coins don't have face value, it wont be taxed.

Anyway, maybe some of our forumers here have experience buying bars from overseas. Taurusbull, any comment?

Hi chef,

Thanks for sharing. I wonder which custom office did GoldChan face with. If that custom office will be the one I will face to, I think I can drop my idea to invest in silver bars and switch to gold coin. (Gold bar you say? sorry cant afford... )

By the way, were there only bad experiences from custom if you buy from overseas? Anyone has bought silver bars from overseas but facing no probelm from custom?

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Added on November 30, 2011, 6:28 pmHi Nidz,

Thanks for sharing too... I am very interest to know is it really our custom officers so "hopeless"...

This post has been edited by Kokolat: Nov 30 2011, 06:28 PM

No Nidz, you covered it all.

Ha ha,

there are small gold bars around too, 1gram cost RM 208 i think. still expensive, even to me...

Anyway, Of all the posting, I think about 8 out of 10 have no problem importing silver bars from overseas, so you are likely to get away with it, if not, well, you can always talk your way out of it, bring along a HS code book, point to them a few pages written in english and give them a lesson in english, they will not want to waste time with you and just let you go tax free...

Don't just give up, try buying some bars, I do suggest one bar which I always wanted to buy, kitco 1oz silver bar, which is 9999 pure. So if you bring that in, I will buy some from you, 10 at least. But understand that you need to purchase from overseas supplier at least USD 300 to USD 1,500 per order, plus shipping charges, delay and the worry that the goods may not arrive, or they ship you the different item instead of what you ordered. Which happened to me in my short 4 months life as a silver investor, all of the above.

Once you import a few times, then you will become sifu here and grumble to us all you want about the lousy custom officer with different standard handling different packages.

chef

I had no problem with Customs.

Hi guys,

Just got to know about this website: https://www.goldsilver2u.com/ <-- by Tomei Group Malaysia...

Their price for 1 kilo PAMP Sussie silver bar is... excellent...

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Added on November 30, 2011, 7:46 pmHi Chef,

Thanks for your reply. I am still collecting information on which oversea supplier to deal with. However, I dont think I will buy 1oz bar. My main target is actually 10oz, 20oz or 50 gram silver bar. Furthermore, I dont think I will buy Kitco silver bar also as I wouldnt want to pay for the brand name... Anyway, I am still trying to collect information and hasnt finalize my decision yet.

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Added on November 30, 2011, 7:46 pmHi cruzzie73,

THANKS!! At least I hear something positive today!

This post has been edited by Kokolat: Nov 30 2011, 07:47 PM

I have imported silver coins / bars few times from US and Australia and delivered by registered mail and so far no problem on tax issues. I think if less than
100 ounces, it all depend on the suppliers how they declared the items and value. Just my experience.

Sometimes even you're importing bars, they will just you certain bucks as handling fee.

Hey you're right!!! Their price for 10oz is great. For pamp suisse, 1stopgold is still cheaper. If you are buying the twin tower, please take some pictures and show us. Just hope that the silver bar is pure. I may buy one for keepsake. It's the only cheap item in their website.

Anyway, kitco bar has low premium, almost as cheap as the cheapest bar around, they are not branded like pamp, and they are among the most beautiful one around. 50g bar I also have, but it will not be easy to sell in malaysia I think, but do research a little more, the company you can buy from overseas are all listed in the page 1 of this forum, I think it's in my posting, not many, but the few famous one everyone buy from, like apmex, gainsville, perthmint etc...

Enjoy your research. I did.

chef

how about their 10goz bar? worth it?
is there a big difference between the price of tomei and what u guys buy online and ship over here?

importing silver bar/coin from overseas...a lot of hassle need to be settled.

@@"

Are you joking that local Mint 10oz silver bar selling at RM1,300 is cheap?

Please ask yourself the following:
1) When you invest in bullion, buy the cheapest RM/oz, period. Unless you are a coin collector going for Numismatic for specific individual reason.
2) What type of mint will you buy; local, dinar or oversea? Is like asking you what currency you want when you need to leave the country; RM, dinar/dirham or USD? Of course I want USD, unless RM gives me 15% discount, that I can convert to USD for a profit.
3) Before you invest, you must have exit plan, meaning selling your silver and looking for liquidity in local Malaysian market. Nobody really know, but in SLS the trading of 5k-10k pcs of 1 oz bar/round/coin vs 1-5pcs of 10oz bar is not surprising. GoldChan and Chris Chin had mentioned 1 oz silver bar are their prefered choice, and I agreed but I would like to add on 1 oz round as well. Now, is buying 1 oz silver bar at RM115/oz from sls cheaper than buying 10 oz at RM1,300 (RM130/oz) from Tomei? Of course RM115/oz is cheaper. On top of that selling 1 oz silver is at least 100 times easier than selling 10 oz silver in Malaysian market.
4) In hyperinflation time or when you becomes refugee, 1oz silver is way more valuable than 10oz as a barter currency for daily foodstuff.
5) I am not against 10oz bar instead I was a proponent, but I reckoned you must have sufficient 1 oz bar/round first before you move on to 10 oz bar for the only advantage of storage density.

I would advice readers to really read all the pages in this thread with many answers and examples for your assimilation and comtemplation. Asking many point blank questions and expecting instant answers will not make you understand silver as an investment vehicle in totality and you tend to miss many salient points, critical for your long-term return of investment.

I rest my case.

Hi Guys,

I think I need to make some clarification on my statement above....

My "excellent" mentioned above is meant to be sarcastic.

Just compare the price below on the 1 kilo silver bar as at 01-Dec-2011 from respective website:

Goldsilver2u offer: RM4,194.63
MySmartGold offer: RM3,915.95
1StopGold offer: RM3,733.96

The "excellent" I mean is "they (GoldSilver2u) are excellent in marking up the price to sky-rocket high, it is too expensive!"

Sorry for the misunderstanding...

And sorry I have no idea on whether their price on 10z silver bar is competitive or not...

This post has been edited by Kokolat: Dec 1 2011, 10:17 AM

I am beginner in silver...and now I am starting to buy 1oz silver bar and its quite cheap to get from SLS (below rm120/oz).Before I join SLS, I get my silver bar from Public Gold...

Just to recap the pure bullion physical silver strategies.
Option 1 - Liquidity - Chris Chin (100%) and GoldChan (90%)
- All 1 oz silver bar
Option 2 - Liquidity and Storage - Taurusbull
First 100oz - go for 1 oz silver bar/round
Next 400oz - go for 10oz silver bar/round
After 500oz - go for 1kg/100oz silver bar/round

Good luck for those jumping into 1kg bar at the start, buying at higher price, and when time to get out, take weeks to sell or sell fast with a deep discount, as shown in LSGG about few weeks ago.

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Added on December 1, 2011, 11:05 amOh! by the way, there is no upgrade from silver to gold investment.

There is only a smarter investment moving from gold (herd) to silver (first mover but not too early).

This post has been edited by taurusbull: Dec 1 2011, 11:05 AM

I agree...many old timer people from gold is now converting to silver.