Hi all, Will be heading to Singapore and HK soon, need help from experienced stackers to point me where to buy silver and gold. Hoping to get the following: Philharmonics, Pandas, Kooks, Koalas, Kangaroos. Preferably safe dealers or banks or mints. Can't be too careful with the Asians (Takes one to know one). Any help would be much appreciated. J
HK don't really sell Silver at all, there are almost no shops/dealers (none I know of!) that deal with .999 Silver, only silverware. Gold is abundant but the stores tend to deal in their own brand of Gold bars and necklaces, rings etc and not bullion. Your best bet is still Des Voeux Road in Central, Bank of China and Hang Seng main branches, although they are currently sold out of everything. I had my contacts try and buy stuff twice already in the last month and no stock so now I use their 'premier banking' so that they alert me whenever there is new stock of Maples or Pandas (Gold). Not sure about Singapore but good luck
Singapore has the additional GST which make it more expensive to buy bullion. As far as i know this can be got back as an expat but would require declaration forms etc upon departure, time etc. There are a few members here from Singapore speak with them. There are also a few online bullion shops in Singapore that you can pick up from... http://www.silverbullion.com.sg/ http://www.royalsmithbullion.com/ http://www.uob.com.sg/personal/investments/treasury/precious_metals.html The question though, why go to another country to buy bullion that is produced here? Note this is not a recommendation for the above sites. I have communicated with some of the above though and found them very friendly. Good luck
Because I happen to travel through SG and HK, And because the premiums can vary from country to country. The koalas at perth mint are selling at crazy premium. I am actually traveling in September, but I am asking now so I can do my research and prepare the tax forms, money etc. Thanks for the help. + I wouldnt dare travel to china alone (even though I am chinese descent). Any stackers brave enough to go to china with me?
???? Nothing wrong with travelling in China. If your in Beijing go to Caishikou (Cai Bai) department store, ignore first floor coins, go to second floor back left hand corner to the bullion counter. Buy gold in 10 gram to 1kg bars. Premiums on Gold are okay (4-5%), silver is a bit high (>15%). China has a 50 gram export law
I have been conditioned to treat my fellow asians with high suspicion. Long story. So, if I buy more than 50 grams I get taxed?
..... Silver is cheaper here especially for Australian products..... You can get gold at the same price as here but branded manes are more expensive....
@Roo Depending on the dollar and time, it has at times been more expensive here. 3 years ago Singapore UOB sold me gold kangaroo at 3-4% premium only haven't checked ever since. I didnt ask about silver back then. Perth mint charged me 6%. I know this is a typo, but ... LOL @ "brand manes"
I dont think they will let you take it out of the country. Not sure what happens if you get caught........
3 years ago Was a different story.... UOB....I've been told they set the benchmark for physical metal prices... I've clients push me to the bone for price. Couldn't figure out..!! Then I find out that UOB hardly had anything to sell... Once in a while they will offer a little here and a little there..
From what I have read, the "50 gram limit" is enforced upon entering China: If you bring more than 50g then you have to declare it and bring it out of China when you leave. If you buy gold or silver you always have to declare it and show receipts when exiting China. See for example http://www.travelchinaguide.com/essential/customs.htm
Yeah, if you buy bullion in Singapore, you can claim back the GST at the airport... There are a few good deals to be had if you can find your way around Singapore There is a coin shop at Raffles that deals with bullion coins at reasonable prices, near all the currency exchange shops. Surprisingly the 24 Hour Indian Supermarket (Mustafa's) sometimes has good deals on silver and gold coins. (Don't forget to get your GST claim form filled in here) The UOB Bank lines (also at Raffles) can be very looooong... but if you're blessed, you might be able to talk to others in the queue and do some private transactions between yourselves. You can also bag yourself some Singapore Lion 1oz Gold Coins if you're fortunate.
