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 Silver Investment Discussion, An alternative to Gold....

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royalben
post Nov 6 2013, 02:37 AM

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Where is the best place to buy physical gold and silver ?

This post has been edited by royalben: Nov 6 2013, 02:38 AM
hey_there
post Nov 6 2013, 03:10 AM

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QUOTE(royalben @ Nov 6 2013, 02:37 AM)
Where is the best place to buy physical gold and silver ?
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https://www.buysilvermalaysia.com
http://www.silvermalaysia.com
http://www.silverstreet.my
http://www.nubex.com.my
royalben
post Nov 6 2013, 03:37 AM

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QUOTE(hey_there @ Nov 6 2013, 03:10 AM)
thanks a lot

yrh0413
post Nov 6 2013, 09:09 AM

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smile.gif If you are buying in large quantity (over USD1,500), strongly suggest you source direct from APMEX or Gainsville.

Local dealers are like a bunch of vampires... tongue.gif
livina2011
post Nov 6 2013, 12:10 PM

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This post has been edited by livina2011: Nov 14 2013, 12:13 PM
hey_there
post Nov 6 2013, 01:24 PM

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QUOTE(livina2011 @ Nov 6 2013, 12:10 PM)
yes! yes! strongly agree. i've been telling ppl this but most don't get my message. Just buy overseas u hv chance to save on 15.5% malaysian tax then u decide whether to sell to which blood sucking vampires who offer u the highest buyback price if u don like their price ask them to fly kite. This way the power is with u not local dealer! really good advice yrh0413! you're the man!  rclxms.gif  rclxms.gif  thumbup.gif

u won't get these tips from local dealer cos they want u to buy from them. rolleyes.gif
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Got ur message very loud and clear long time ago. The problem is not everyone buys big amount. Like my case, 1-2 oz per transaction. blush.gif
livina2011
post Nov 6 2013, 02:10 PM

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This post has been edited by livina2011: Nov 14 2013, 12:30 PM
hey_there
post Nov 6 2013, 02:54 PM

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QUOTE(livina2011 @ Nov 6 2013, 02:10 PM)
i was thinking awhile ago about bulk purchase problem suddenly u ask. I got another super duper tips specially for you and everybody which i think every local dealer will not like.  drool.gif

firstly, use Maybank paper silver to accumulate monthly. when u reach let say 100oz level which is 3,110 gram of paper silver u then sell ur accumulated paper and buy 100oz of physical silver from overseas. why 100oz u may ask it's because overseas hv minimum. And always remember do the switch when you're in profit at least your passbook look nicer mah!  icon_idea.gif

by doing so ur risk that gov or bank will confiscate ur paper silver is low of which i doubt our central bank will do that. u can also play around with it like if u see a spike in silver short ur paper then buy physical after it dropped. but this is abit risky so use ur own wisdom. if u don want to take risk then buy & sell on the same day. yes there will be spread difference but don forget u save around 8.51% based on my previous calculation remember??!!  thumbup.gif

i give up on local vampire long time ago.  brows.gif
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that's so complicated rclxub.gif
maybe buy 100oz directly from oversea and sell it slightly cheaper than the local vampires... hehehe.. becoming another vampire myself.. wouldn't it be better.. heheh brows.gif brows.gif
hey_there
post Nov 6 2013, 03:02 PM

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btw, i think BSM is a slightly better vampire. they give store credits upon sending in feedback after each purchase. sometimes, they will send you email, and ask for feedback on certain issue and u earn store credits too. i accumulate the store credits and use it for my next purchase. thus, lower down my purchase amount.
livina2011
post Nov 6 2013, 03:46 PM

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This post has been edited by livina2011: Nov 14 2013, 12:31 PM
hey_there
post Nov 6 2013, 04:06 PM

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QUOTE(livina2011 @ Nov 6 2013, 03:46 PM)
jimat 15.5% tak mau? wow! orang kaya lah u ni... doh.gif
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sure want to jimat la. but the way u mention is too complicated. plus, we r talkijng about 100oz leh... shocking.gif me small potato only. just discipline myself to buy 1-2oz until i found a better way. am still looking for a better way. meanwhile, no choice.... let them suck a little lo.
yrh0413
post Nov 6 2013, 04:07 PM

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QUOTE(hey_there @ Nov 6 2013, 01:24 PM)
Got ur message very loud and clear long time ago. The problem is not everyone buys big amount. Like my case, 1-2 oz per transaction.  blush.gif
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Buying 1-2 oz per month might not be a good idea... imagine each oz of silver you are paying 20% premium (say RM100 per 1oz silver). One year you spent RM1200 on 12oz silver.

You need to wait for silver to appreciate at least 20% to break-even. If silver shoots up like a rocket then consider yourself lucky; but what if silver didn't move much you will be sitting on your stash for nothing.... might as well put your RM100/month in Maybank e-FD and earn 2-3% returns per annum?

I do agree with livina2011, no point investing in small ounces of physical silver each month as you likely to be drown in super high premiums.
Instead you might want to consider going paper silver or gold (buy close to spot), accumulate your wealth and then buy a 100oz silver bar or 1oz gold once you have the funds.

yrh0413
post Nov 6 2013, 04:08 PM

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QUOTE(hey_there @ Nov 6 2013, 04:06 PM)
sure want to jimat la. but the way u mention is too complicated. plus, we r talkijng about 100oz leh...  shocking.gif  me small potato only. just discipline myself to buy 1-2oz until i found a better way. am still looking for a better way. meanwhile, no choice.... let them suck a little lo.
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Let them suck "a little"... 20% is no joke man sweat.gif
hey_there
post Nov 6 2013, 04:34 PM

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QUOTE(yrh0413 @ Nov 6 2013, 04:07 PM)
Buying 1-2 oz per month might not be a good idea... imagine each oz of silver you are paying 20% premium (say RM100 per 1oz silver). One year you spent RM1200 on 12oz silver.
rm100/oz?  shocking.gif how do u get that amount? 1 oz is rm70 spot and i'm paying rm82 +/- so premium rm12/oz. RM144 extra premium per year. no?

You need to wait for silver to appreciate at least 20% to break-even. If silver shoots up like a rocket then consider yourself lucky; but what if silver didn't move much you will be sitting on your stash for nothing.... might as well put your RM100/month in Maybank e-FD and earn 2-3% returns per annum?

every investments has its risk. there's no guarantee. u need to know ur risk profile and if u cant take the risk, yea... FD is a good idea tongue.gif like buying a property for investment, u already lose few thousand on legal fees etc. and what if the property's price doesn't go up and ended up like bukit beruntung? that's a risk one must consider before jumping into any investment.

I do agree with livina2011, no point investing in small ounces of physical silver each month as you likely to be drown in super high premiums.
Instead you might want to consider going paper silver or gold (buy close to spot), accumulate your wealth and then buy a 100oz silver bar or 1oz gold once you have the funds.

i do agree with livina2011 too nod.gif but not every bank offer conversion to physical. i do consider saving a few hundred monthly and buy 100oz of silver or 1oz of gold. but like i said, i'm only a small potato. i can only afford about rm150/mth on PM. assuming 1oz of silver is rm70 spot, 100oz is rm7000. so i need to save 47 months in order to afford that 100oz silver. what will happen after 47 months? can i still able to buy 100oz for rm7000 in 2017? no one can guarantee that. so i better buy small amount monthly while i search for better gameplan. i'm not saying what i'm doing now is the best game plan but that's what i can afford and hassle free. i will continue to look for better ways to invest in it  smile.gif

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yrh0413
post Nov 6 2013, 05:15 PM

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smile.gif hey_there, looks like your source for silver is reasonable in pricing. RM70/oz is a good price.

I think what livina2011 mentioned is that... buy paper gold or silver, once you have accumulated sufficient funds cash them out into fiat and use them to buy physical silver.
hey_there
post Nov 6 2013, 06:00 PM

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QUOTE(yrh0413 @ Nov 6 2013, 05:15 PM)
smile.gif hey_there, looks like your source for silver is reasonable in pricing. RM70/oz is a good price.
rm70/oz is spot. premium above spot is rm82. so the selling price /oz is rm82..

I think what livina2011 mentioned is that... buy paper gold or silver, once you have accumulated sufficient funds cash them out into fiat and use them to buy physical silver.
[B]but u'll need to cash them out when the price is high right? that is a good time to sell but not a good time to buy. i'll need to hold the cash and buy physical when the price is down again. it might or might not go down. hmm.gif 

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maybe some of us might wanna buy 100oz from US dealer and sell it at lower premium over spot price. that might trigger a huge competitive price to local dealer and everyone starts selling closer to spot to be able to survive. or maybe we get 10 ppl to buy 10/oz each from international dealer. but do we trust each other?

livina2011
post Nov 6 2013, 08:11 PM

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This post has been edited by livina2011: Nov 14 2013, 12:32 PM
TSXtraLeoGecko
post Nov 6 2013, 08:14 PM

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QUOTE(hey_there @ Nov 6 2013, 06:00 PM)
maybe some of us might wanna buy 100oz from US dealer and sell it at lower premium over spot price. that might trigger a huge competitive price to local dealer and everyone starts selling closer to spot to be able to survive. or maybe we get 10 ppl to buy 10/oz each from international dealer. but do we trust each other?
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Count me in ya....

Setup a company to import then split... just need to identify a few regular silver investor as director. . So blood won't b sucked by vampire....
yrh0413
post Nov 6 2013, 10:37 PM

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personally I treat my metals as part of my savings.
Every month I save certain amount of my salary into savings, and some convert to gold and silver.

livina2011, be it wealth preservation or retaining purchase power... we will always be looking at "profiting" from our purchase.
"Buy low sell high" always come to mind. Your scenario of buying bread with silver only works if gold and silver becomes currency at some point of time.
Until then 1 loaf of bread could be RM4, could be RM40, could be RM4000 but it is unlikely to be bought in ounces of gold and silver.

Looking back at history, when bread was RM0.30 per loaf gold was at RM800 per ounce.
Fast forward to recent years bread is now at RM6 per loaf and gold is at RM4,500 per ounce.
Years down the road bread might cost RM60 per loaf and gold at RM45,000 per ounce.
Unless gold and silver becomes a currency by itself it is unlikely you can buy anything with precious metals.
If you don't sell your metals, how can you have enough fiat currency to buy anything?

Retention of purchasing power only works if you can make any purchase with your silver.
For me I treat my metals as preservation of wealth in hope that it could, in long-run appreciate high enough to overcome inflation.
For example, now 1 ounce of silver, converted to fiat say RM70 may buy me 100 apples.
10 years later the same 1 ounce of silver, converted to fiat (whatever worth at that time) may still buy me 100 apples or more.
hey_there
post Nov 6 2013, 11:58 PM

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QUOTE(livina2011 @ Nov 6 2013, 08:11 PM)
hey_there,
u seriously don't care abt percentage for now but in future u will realised how big is 20%. if 1 day u accumulated 100oz then u will be 20oz short. P
[cool.gif I do understand this. But nothing is free. I want hassle-free, I have to pay for it. U want to eat cheap bread, u have to bake it urself. If not, u'll have to pay more for ur bread. [\B]

FYI we buy metal not to profit in terms of capital appreciation most ppl misinterpret this so most ppl trade them by buying & selling them instead of averaging the cost. Might as well trade stocks since QE is good for stocks. we invest silver to retain purchasing power while awaiting for wealth transfer to take advantage of it. Imagine if today your 1oz silver appreciated 500% and to buy a loaf of bread cost u 1oz of silver but tomorrow ur same bread might cost u 2oz of silver. In this scenario would u cash out all ur silver today becos u make a profit of 500%?? if NO then when are u gonna sell?? my answer is u should not sell ur silver even if u profit 1000% except certain condition. This is what i meant by retaining ur purchasing power.
[cool.gif the reason why I buy silver in the first place is I believe that the fiat currency will crash. The world might use back gold and silver as a monetary. I'm just preparing if it really happens. In case if it don't, I can sell it for fiat currency to curb inflation. [\B]

Hope u get what i mean.  wink.gif
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Again, if I can buy my metals cheaper or closer to spot price without much hassle I would be happy. I don't want to spend so much time and effort to save rm10/oz, where I can use that time to earn more $$ elsewhere. If I'm buying straight 100oz and can save rm1000 then is worth the hassle. U understand what u mean? laugh.gif

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