Investing in Silver

[casper86]

Hi, I'm looking to invest in silver. Anyone had any recommandation? Last year end I wanted I get at around US$26 buy missed the boat. Now it's back at less than US$30 so very much interested in it.

I do see that UOB charges a monthly fees which erodes away my investment so I'm looking at getting physical buillion as I heard it has the lowest mark-up.

Anyone had any place to recommend me to buy from?

Your advise is very much appreciated. Thank you very much

 

[2cansam]

physical one can get from the jewellery store?

 

[iCuteCube]

lol, why is everyone flooding topics about silver and gold?

You can consider physical Silver, sold at various dealers in Singapore, for example Gold Silver Central or Silver Bullion.

 

[djchris]

You can check out the forum at goldclubasia.com where locals buy and sell physical gold and silver.

 

[santafluke]

You can visit thread#3's blog
It enlightened me a lot

 

[Alex.hero]

Uob only charge the gst and taxes yearly leh... If u close within 6 months den got the early closure fee. Anyway I do have a silver account and I can say its quite profitable leh. Provided you got the knowledge.

 

[Shiny Things]

Hi, I'm looking to invest in silver. Anyone had any recommandation?

I do see that UOB charges a monthly fees which erodes away my investment so I'm looking at getting physical buillion as I heard it has the lowest mark-up.

Anyone had any place to recommend me to buy from?

The markup on physical silver bullion is actually gigantic - whoever told you it was cheap needs to get their head read. The Perth Mint (my favourite source for this sort of thing) charges a spread of USD$7/oz between their buy and sell prices - which is nearly 25% of the value of the silver! Imagine if your stockbroker charged you 25% brokerage when you traded some Singtel shares and you'll see why that's a terrible way to invest.

For comparison, the spread on UOB's silver passbook account (who uses passbooks any more?!) is about 70 cents/oz, or 2%-ish - but you can't convert those into actual silver, no way, no how.

The cheapest way to invest in silver is via an ETF; if your broker lets you trade American-listed shares, then the SLV ETF is a good way to get into it. You'll get slugged a bit on the SGD-to-USD conversion to buy it, but the brokerage fees are low, the markups are minimal (the spread's usually a few cents), and you can get in and out as and when you like.

 

[casper86]

Thank you all for the reply.

I've checked and the physical silver is at least $10 more in premium. After 1st October it'll be cheaper by 7% but still expensive.

I've gotten a few friends and opened a UOB Silver account just now. Gotten at the price of $37.02/Ounces which I feel is a good price. I'll consider buying silver when the spot price is below US$30, and looking at selling once it reaches >US$35 or depending on situation.

Not many ounce but at the the cost will be much lower with the higher holding.

BTW, you need 640 ounces to be the most cost efficient. 0.375% of 640 = 2.4 ounces = Basis fee. But that'll be almost 22K already.....

 

[iCuteCube]

Try to join mass order and buy in tubes, because i don't think you want to buy a Monster Box for yourself (500 oz).

If you want buy a little bit by a little bit, after you calculate, really not worth it.

Let me give you an example:

For canned coke, I go DD buy, i can get it at 35 cents per can. But sometimes outside ppl sell at $1 also got ppl buy, or NTUC sell 60cents for example, also got people buy.

Thats why i always try to merge order or buy in large qty and sell. Many people are doing so, sometimes i will just buy from them in tubes. My reason of buying Silver is investing, or profit, thats why i cannot tahan the difference in premium or price.

But once again, depends what people like to spend on. Some people can save a few dollars here and there, but go club one time, spent like $100. Doesn't make sense right? Try to even out your savings through all your lifestyle, not only limited to one, if you get what i meant.

 

[harky]

looking for $$ source

lol, why is everyone flooding topics about silver and gold?

You can consider physical Silver, sold at various dealers in Singapore, for example Gold Silver Central or Silver Bullion.

 

[SpeedingBullet]

looking at the massive shorts in SLV... bad idea

 

[jack1983]

I am a silver investor with UOB silver saving. Yes they do have admin charges, but good thing is they don't impose 7% of GST. If you buy real silver, subject to 7% GST. But anyway, government is going to do away with the GST.
Secondly, investing with UOB is more flexible. If you want to sell, you can sell it immediately at the bank. if you have the silver bullion, no guarantee you can sell it, and even if you can sell it, will take some time.

Financial Planning, Insurance, and Health Insurance by Jack Ooi.

 

[ruzmidah]

I am a silver investor with UOB silver saving. Yes they do have admin charges, but good thing is they don't impose 7% of GST. If you buy real silver, subject to 7% GST. But anyway, government is going to do away with the GST.
Secondly, investing with UOB is more flexible. If you want to sell, you can sell it immediately at the bank. if you have the silver bullion, no guarantee you can sell it, and even if you can sell it, will take some time.

Financial Planning, Insurance, and Health Insurance by Jack Ooi.

Not that flexible lah... can only "sell back" to them on weekdays office hrs only.
Sometimes spot price can drop during those times. A friend of mine complained to me...

 

[jack1983]

haha, when i said flexible i am comparing with the psychical silver.

 

[iCuteCube]

haha, when i said flexible i am comparing with the psychical silver.

If we are toying with physical Silver, we must know the ball game.

There are some semi-numismatic coin is still going strong despite the waves of Spot Silver Pricing. And older coins may have more value, if everyone values the same, for example China Pandas (Silver).

For each investment tools, you need to know how to play it, most importantly it makes money for you, thats the end goal, to create wealth or preserve wealth

 

[casper86]

how about goldsilver.com? anyone tried buying from there before?

 

[Marcusse]

Hi 2cansam,

I am from the new Great Eastern Financial Advisor Pte Ltd platform.


I wonder what if your basis on silver investment at this point of time? It is unfair for me to proceed further as I yet to understand where you coming from. But a tip for you: look at its current trend...

Ask yourself: Is it a good time to get Silver now?

Regards,
Marcusse

 

[iCuteCube]

Hi 2cansam,

I am from the new Great Eastern Financial Advisor Pte Ltd platform.


I wonder what if your basis on silver investment at this point of time? It is unfair for me to proceed further as I yet to understand where you coming from. But a tip for you: look at its current trend...

Ask yourself: Is it a good time to get Silver now?

Regards,
Marcusse

Good or bad time, if collect little by little, the cost is averaged by DCA.

Don't treat Silver as a 100% Investment, rather then an art piece. Physical Silver have nice designs, and some are limited in mintage which can fetch high demands in the secondary market. For example 1992 Panda 1oz Silver.

10 Years later, the difference in premium will not be that significant.

For example, when Silver is $12 and $15, you will say huge difference. But after sometime, now silver is $30+, the gap between the "difference" will not be so significant as Silver price goes up.

But Silver price will be quite stagnant this year (Projected).

 

[Marcusse]

But Silver price will be quite stagnant this year (Projected).

Not too far off but it will be up to 2cansam to see what he/she wants to see; IMPT: This does not imply any selling

In regard to "this year" of your quote Icutecute, you may want to research more into Silver

Good or bad time, if collect little by little, the cost is averaged by DCA.

Careful here, it is like saying Gold will reach $2,000 a hundred years ago. Let 2cansam decide what is best for him.

It is irresponsible for me to comment on Silver price as I have no idea what strategy 2cansam is going to play with Silver

Have fun in Life,
Marcusse

 

[chopra]

Hi 2cansam,

I am from the new Great Eastern Financial Advisor Pte Ltd platform.


I wonder what if your basis on silver investment at this point of time? It is unfair for me to proceed further as I yet to understand where you coming from. But a tip for you: look at its current trend...

Ask yourself: Is it a good time to get Silver now?

Regards,
Marcusse

Allow me to answer for him.

The very basic basis of investing would be to get good returns.

Nobody is Mr. Market. Nobody knows if it's a good time to enter Silver.

How about you, Marcusse? What would be a good time to enter the Market? If we can't time, what would be the alternative approach? What are the caveats to the alternative approach?


Btw, what kind of financial vehicles do you usually advice on? Thanks again.