Mine is about the same as you RRR. Exit plan? sell only if I need the money to convert it into real estate or some other neccessity. I'm sure I wouldn't want to swap my PM for money and then keep it in the bank, unless the money is to be used for something.

Anyone want to start barter trading for silver and gold? for example, I want to swap my notebook for a few bars of silver, anyone interested? we will start a new currency trade here, where the money is silver and gold.

chef

---

Added on January 30, 2012, 9:29 pmI guess this is true for now. But when the world is short of silver, your bars will be in demand and it will command near spot price. But unlike numis and coins, they command a premium now, and will still do when they are used as actual currency, unless the world has gone really dark, then 1oz is 1oz. Still, I believe coins will always be respected more than just normal bars. As we are all brought up to recognize coins and not a bar of metal. Ask any auntie if they want a gold chain or a gold bar, same weight same price.

Come to think of it, usually buy back for silver bar I know, only 1 company, and they buy large size bar. small bars are for people like us. I have not seen anyone say they will buy back silver 1oz bars. Anyone shed some light on this?

chef



This post has been edited by chef: Jan 30 2012, 09:29 PM

Well, I see a few potential problems and scenario.

1) Your stockist/supplier Tell you they had decided to stop buy back because of the slump or market condition (or some other lame excuse) Are you going to turn around and tell that to your customer too? You loose faith in your supplier, but your customer loose faith in you.

2) At extreme condition, the supplier/stockist increase their spread to very very wide, so that sell back to them will not be feasible. Are you going to do the same? It's easy to pass on the problem from top to bottom like boss scold manager, manager scold engineer, engineer scold technician. But this is not my style.

3) buy back from supplier may have condition, like 1stopgold, they need to see the goods on site before accepting the goods. imagine you collected and paid off your customer, bring to the supplier and they say "half of them are fake" or "they are in bad condition, accepted with 50% off", "minimum buy back qty is 100oz" etc... then it becomes your problem to solve these issue.

4) Your supplier is overseas, and there is a clause not allowing precious metal to be shipped out by courier, and it will kill off any profit or buffer you have against these. And when the goods arrived at supplier's end, spot price went even lower within the last 3 days, or the supplier say the silver bars does not belongs to them. etc etc...

Sorry for the long reply, I'm a system integrator, so I see problems and scenario which may happen only 1% of the time, but still, it is these minor problem that will make or break a company's reputation.

There are more I think, just don't have time to think it thru yet, I'm sure goldchan has more to share.

chef

wow, you really let off all your trade secret huh? heh heh, just kidding, I know you have so much to share, and you are one of the few people I know who is very ready to share your experience without holding back, really great to know you personally.

---

Added on February 3, 2012, 8:58 pmHey, don't be upset by these people, there are always people who feel so strongly about what they think, they want other people to think like them. Anyway, I do hope these people are no longer around.

I believe everyone is entitled to their own thinking and believe, right or wrong. Sometimes, this person is right, 5 years later, the other person is right. who knows?

My summary is, I believe there are a few types of people here, long term, medium term and short term view of silver. I started as short term view, now into medium terms. But to reach long term view will take a longer while, since I'm only into silver about half a year only.

chef



This post has been edited by chef: Feb 3 2012, 08:58 PM

No guys,

US National debt had surpass their credit limit of 15Trillion. here's the link :

http://www.usdebtclock.org/

The final push was obama trying to use the money to "buy" votes for his second term. Now they had hit the ceiling, they are waiting for the next president to pick up the pieces. There is suppose to be some kind of financial shuffling going on to rectify this, fat hope though.

chef

---

Added on February 10, 2012, 11:49 pmActually we have been worried about paper money, have you guys think about "electronic money"? Those in the bank computer that does not even require notes to represent them?

Imagine the CEO of the central bank of a country can create money, by typing in some BONUS to himself in the computer. Don't even need to print the money. Scary? now think about your money in the bank, it is just figures in a computer server that says you have X amount of money. Computer crash, your money all gone.

chef

This post has been edited by chef: Feb 10 2012, 11:49 PM

if you are in singapore, else only gold account in uob in malaysia.

anyway for those who wonder what happened to me, I'm taking a break overseas, will be back march..great stacking, hope by the time I'm back, the silver spot would have moved up and up...

chef

PS by the way, congrats for the e-book!!

This post has been edited by chef: Feb 22 2012, 07:27 PM

Well, this place looks lively still...

I think it could be a first step for a state to start adopting a safe currency for trading instead of relying on fiat money. It would be interesting to know how they go about doing it, I'm sure it's not easy as the spot price changes daily. Anyone from there care to pop in these store and make some purchases? then share the experience?

And I would love to know how public gold manage their silver buy/sell too. Selling back to them at this point in time shouldn't be a problem, but when there is too many seller trying to liquidate their silver at the same time, I suspect that will be the time when we see which company really can do what they promise.

chef

---

Added on March 5, 2012, 3:17 pmSaw the offer in FB, but didn't leave a message, what's the price of the PANDA 2012? if I buy 5. let me know, thanks. when is the delivery?

chef


This post has been edited by chef: Mar 5 2012, 03:17 PM

How about this, let's try trading here.

I have a BENQ netbook, 11" LCD screen, small crack at the back and the sound card is not working very well. But the battery last 6 hours fully charged and comes with windows XP original license. Bought this at RM 1,450 two years back I think..

I'm willing to trade this netbook for say 4 oz silver coin (koala 2012 or austrian philharmonics 2012) or 5 oz of silver bar (sunshine or silvertowne etc). Any takers?

chef

PS Sorry, I don't take dirham or dinar, as I don't collect these.

This post has been edited by chef: Mar 6 2012, 11:06 PM

Nope, silver profit too small and too bulky for them to buy/sell. TOMEI has their own silver bar, but so far, many of their shops are not stocking up on silver. I understand among those countries I visited, only australia,china and thailand accept silver.

This is the main draw back of silver as investment, liquidating it take much longer than gold. Today met with a few fellow stackers and again, most of their concern about silver is converting it urgently to cash.

chef

Hi,

I suggest that you don't go into junk silver, not many people buy them now and there are advice from expert not to touch junk silver. Forgot where I read it, I think it's mike himself who mentioned it. 90% silver is like 925 sterling silver, whoever is investing or buying pure silver will most likely not venture into those anytime soon. Small silver beads which is 99.9% pure maybe...

chef

Hi Gold chan,

As always, good advice and reply from your years of experience. I have 2 very big silver bars/coin which satisfy my newbie ego/eagerness. Now it's just sitting there hiding in one corner waiting for the day it shines...

Got chance meet for coffee yeah?

chef

Hi yo property,

Don't worry too much, I do intend to buy large bar still, these are really to prevent my itchy finger to selling it, so it's purely for hedging against inflation. The small bars can be used for trading. Just like gold to me is for trading, while silver is more for hedging....make any sense?

what bars do you have? lets share.... Anyone care to mention what kind of kilo size and above silver you have?

I have
A- 1 pamp kilo
B- Kookaburra 2012

thinking of getting a dragon coin if I can this year.

chef

Wow, your timing is good. Silver just dropped 3% or more!!

But some news about it going lower still, but just don't try to catch the lowest price, nobody here can tell what lowest price will be, just buy those 1oz silver and you are on your way to wealth transfer receiving end!!

chef

==============

Ha!! just found out you are from singapore too?? hey, there's a coin show coming up end of the month, I will missed it. not in singapore!!

Anyway, most of the people I know are keeping their money and getting ready to shoot during the coin fair, I think you should consider that too. Anyway, feel free to PM me, will meet you in singapore if you want to. ALL silver collector I know are nice people.

chef

---

Added on March 15, 2012, 11:12 amThere's a minimum purchase of 20 to 25oz, or at least S$2k worth of order.

Are you from singapore too? or working in singapore? nice to meet you..

chef

This post has been edited by chef: Mar 15 2012, 11:12 AM

Oh great, I'm opposite, I am singaporean, but doing business in malaysia. most of my time in JB and KL. feel free to PM me o.k?

well, just get ready to buy, monitor the price using some apps, put in price alert and BUY when it reach your target price. but don't expect to get the price at it's lowest, nobody can predict that. But silver price going down is temporary, actual value of silver and gold are all undervalue now.

chef

Congratz to all new people here who invested in silver and found us here.

Firstly, one word of caution and advise, don't get too addicted and start buying and buying. Keep some ammo for occasion when you really see somethings special and wanted to buy, then use your left over ammo.

As for what type of silver to buy, there are lots of good suggestion from many sifu here, listen to them and avoid making mistake yourself. They are all giving sound advice.

Anyway, good luck to us all!! May we keep our fortune, get the wealth transfer and become property gurus one day. ha ha...

chef