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Where to buy silver bullion coins?

Saturday, December 15, 2012

I have been asked by many people where to buy silver bullion coins in Singapore. My standard reply has always been for them to perform a search online with the same words as the title of this blog post and they will have a list of companies which sell the coins here.

Recently, a reader asked me not where to buy the coins but whether it is cheaper to buy the coins online than buying the coins from a seller in Singapore. I thought I should share my reply to him here with anyone who might have a similar question.

Email from reader:

I'm your blog new follower about 1 month, thanks for sharing all the great info.
Regarding the canadian maple leaf silver, can I get it in Singapore for a cheaper price or I have to buy it online?

1.  (SG company)

2.  (Online overseas company)

Please advise me the above 2 sites or your own views to get a cheaper price.

My reply on 01 December 2012:

I buy from Singapore sellers because I do not buy in large enough quantity to make any cost savings from buying online significant.

For example, if we buy a tube of 25 1oz silver bullion coins from (SG company) today, price is S$1,187 or S$47.50 an oz.

Spot silver is at US$33 an oz or about S$41. (SG company) brings in the coins in bulk and by ocean freight. So, their cost of freight is quite low. If we were to buy only 25 coins from Canada, we would have to use DHL Express Worldwide or Federal Express which would be expensive and could easily cost S$80 to S$100 for a 1kg parcel.

Anyway, (SG company) probably makes some S$6.00 per coin or 15% gross profit. I feel that it is fair. The biggest advantage for buyers is being able to bring the coins home with us immediately after making payment.

Note: I have replaced the names of the two companies the reader mentioned in his email with generics so as not to appear partial to any party.

Related posts:
1. Silver bullion coins.
2. Buy gold and silver as insurance.


AK71 said...

Rick Rule, founder and chairman of Sprott Global Resource Investments says "the most massive and most intelligent pools of capital on the planet are now looking to crowd into the gold and silver space."

Speaking to King World News Rule says Sprott is currently receiving expressions of interest from the world's "very largest sovereign wealth funds" and "very largest suppliers of private capital in the world."

Rule says the minds behind the biggest capital pools in the world are now backing precious metals:

It’s interesting to see the big money starting to be attracted to the sector. It’s interesting to see that point of view being shared by the largest aggregations of capital on the planet. There are oceans of capital looking for a home…There are literally trillions of dollars looking for a home.

AK71 said...

Silver Bullion, one of Singapore’s largest suppliers of coins and bars to retail investors, says sales tripled since October, part of a global surge in demand that drove holdings to a record.

“Our clients are worried that a major currency crisis or mass bankruptcies would occur,” said Gregor Gregersen, the 36- year-old founder of Silver Bullion, whose sales now average about $6 million a month. “It all has to do with falling confidence in the heavily indebted Western governments and financial institutions.”

Global investment through silver-backed exchange-traded products reached a record 18,854 metric tons in November, or more than nine months of mine output, data compiled by Bloomberg show. Holdings are now valued at about US$19.2 billion ($23.4 billion). Prices will rise as much as 29% to US$40.25 an ounce next year, based on the median of 49 analyst, trader and investor estimates compiled by Bloomberg.

Silver almost tripled since the end of 2008, lagging behind only platinum in gains for precious metals this year as policy makers from the U.S. to China to Europe pledged more action to boost economies. That’s attracting investors betting that stimulus will stoke inflation and debase currencies. It’s also luring those wagering growth will strengthen industrial demand for silver, 53% of which is used in everything from televisions to batteries.


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