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 Gold Investment Corner V8, All About Gold

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JohnsonLoi
post Mar 5 2021, 04:03 PM

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Anyone here bought Gold or Silver coin from Apmex dot com before?

Lately I have been reading about it and it seems like it is the most reputable site out of all.

I noticed that there is $49.99 shipping fee. Just wonder about the kastam. Any issue if any sifu have bought from Apmex before?
JohnsonLoi
post Mar 6 2021, 07:37 AM

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QUOTE(smokymcpot @ Mar 5 2021, 07:45 PM)
I have bought from them and a few others like JM Bullion, be ready to pay tax of about 16% for silver coins. Sometimes even bars also kena tax because they declare the wrong HS code or the custom officer will just tax because he is not sure.

I had to go the office in KLIA to settle the issue  doh.gif

Out of 5 times, I normally kena 1 or 2 times. The other times which I do actually order silver coins, the courier (either UPS/DHL/Fedex) will call and ask you to settle the tax payment with them.

So long story short, I rather just get locally to save all the hassle because at the end it feels a little like 'penny wise, pound foolish'. This is a long term investment and your long terms gains would easily cover the extra premium you are paying now for the convenience.  wink.gif
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Regarding the 16% tax for silver coins, do you mean you have to go to klia to pay that 16% in cash?
Yea I will try locally from now

JohnsonLoi
post Mar 6 2021, 07:39 AM

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QUOTE(Unkerpanjang @ Mar 5 2021, 07:50 PM)
Bro,
Apmex fees is in USD.
MY n SG have just as reputable dealers.
If u wish to buy gold coins, try our Tiger Bank, etc.
If u have serious trust issues with MY banks n dealers, then buy from Bullionstar, Goldsilver in SG. Shipping fee is like SGD40, for 100 grams gold.
Surely, you can trust SG governance/regulations.
You gonna redeem yr bitcoin for lots of gold?
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Since I just read about gold and silver lately (mostly from US sites), I never knew our Tiger Bank sell the gold and silver coins like (American Eagle, Canadian maple leaf, Krug etc..)

Yes another reason I asked about Apmex is that they accept Bitcoin so I do not have to sell them to fiat first and buy gold.
JohnsonLoi
post Mar 6 2021, 10:39 AM

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QUOTE(Unkerpanjang @ Mar 6 2021, 08:32 AM)
Tiger bank is Kijang Emas.
What we want is the gold bullion, 99.99%. I wud say highly recognized n easily transacted locally.
Dont buy coins, the premium % over spot is high. Preferably, 100 gram bars; or 1 oz coins (if its gotta be coins)
SG Bullionstar accepts bitcoin.
But why sell bitcoin now, when likely months away from market cycle top?
I collect boring Swiss Pamp n 24K jewellery with 0% workmanship (old design on sale)
user posted image
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Thanks for the SG Bullionstar. Judging from the picture of the shop it looks good and has good reviews! And it accepts crypto as payment and can ship to Malaysia. Hopefully can go to visit the shop in SG once lockdown is lifted.

Yes I will buy 1oz coins as I can sell easily. Coins are also preferred over bullions because they are very easy for laypeople to assess as genuine.
Only sealed bars are instantly sellable and I prefer to hold and touch my coins.

I have been thinking about the BTC too and I just want to diversify into precious metals.
4 years ago, 1 BTC = 1 oz of gold.
Now it is 0.035 BTC to 1 oz of gold. I believe we will reach 0.01 BTC to 1 oz of gold soon then I will buy most gold at that time

JohnsonLoi
post Mar 13 2021, 09:11 AM

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As someone who is planning to start buying physical gold and silver, but is always relocating between different countries

I know there is a limit of $10,000 worth of asset (cash, gold, check) that you can take with you when you leave a country.

I am thinking if buying physical gold and silver is a good idea?
JohnsonLoi
post Mar 13 2021, 08:40 PM

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QUOTE(anon118 @ Mar 13 2021, 03:48 PM)
Suggest that you consider buying Bitcoin instead. They call it Digital Gold... smile.gif
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Most of my net worth are in Bitcoin and is planning to diversify into physical gold and silver that's why I ask.

I still believe Bitcoin is the better asset, but I want something that is shiny and I can touch that has lasted 4000 + years. Physical Gold and silver are not going away.
JohnsonLoi
post Mar 13 2021, 08:43 PM

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QUOTE(Singh_Kalan @ Mar 13 2021, 03:54 PM)
Apart of taking it out occasionally to caress and admire its glittering,
why want to go through the hassle of buying physical gold, when you can own liquid asset tied to gold like GOLDETF ??
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I am interested in the shiny bar and coins and with paper ETF I don't actually own it, as in I can’t take physical possession of it, unlike physical gold.
JohnsonLoi
post Mar 13 2021, 08:45 PM

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QUOTE(Unkerpanjang @ Mar 13 2021, 07:38 PM)
Actually, if above usd10k, must declare. Doesnt mean cannot take out of country.
No issue with cash, why carry so much, bank account need not declare.
Just declare in-out, n show proof of local purchase, u shud be ok.
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Yeah. That's what I thought. As long as I declare and say they are my coins. It should be fine.

Just have to be careful when having PM on me during travelling in airport as not to get stolen
JohnsonLoi
post Mar 14 2021, 09:00 AM

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QUOTE(Unkerpanjang @ Mar 14 2021, 07:38 AM)
Good to have some fears n scenario planning (what u doing now) vs a green horn.
My worry has always been the destination airport customs. ( i mean the corrupted ones).
Personally, i hand carried some large amounts of cash back to MY to make purchases, the biggest was SGD450K.
The MY Customs officer wanted to see the stack.
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QUOTE(Unkerpanjang @ Mar 14 2021, 07:43 AM)
Bro, u seem like a well balannced guy, (head screwed correctly), most others are a like owning one or the other.
Good to diversify, u r doing right!
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Wow SGD450k in cash? That is more than a million Ringgit.

Did they ask if you work in SG and what is the money used for?
Why didn't you use SWIFT bank transfer or something like Transferswise back then?

I was 100% Bitcoin believer and PM hater last time to be honest. Now that I am open to diversifying into Gold and Silver PM. The reason being that I relocate around a lot and the Custom officers can confiscate your PM but not your Bitcoin. This is the only thing that holds me back from buying huge amount of PM. Now that I first hand listen to your experience of carrying SGD450k cash without any issue, then I am open to the idea of carrying PM around.

 

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