Ready to start

Discussion in 'Silver' started by Mi lao shu, Jan 16, 2011.

  1. Mi lao shu

    Mi lao shu Member

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    Hi everybody, i am new on the forum and after few months of collecting paper money i decide it to go in silver waters. As I am located in Shezhen, China, and 2011 1oz silver Panda is not free to buy yet (2010 1 oz to expensive 360rmb) I am wondering can someone give me advice how to start with others in meanwhile. I was thinking about 999 Silver Bar 10 tael or 10oz Loco London silver from Bank of China HK. Thanks!
     
  2. dccpa

    dccpa Active Member

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    Welcome Mi lao shu. Hopefully some SS in China can provide you with needed information. With the tremendous amount of fakes being produced in China, I would only buy from those you trust or dealers that have excellent reputations.
     
  3. Boyo

    Boyo Active Member Silver Stacker

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    Welcome to the forum, Mi lao shu! If you are comfortable buying on-line there are a couple of dealers on right here on Silver Stackers who can supply you, with excellent prices.

    Look in the trade section of the index and you will see them.
     
  4. Slam

    Slam Well-Known Member Silver Stacker

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    Welcome to the forums.

    Wow 360rmb for the 1oz 2010. Do you have any idea how much the 2011 will cost on release?

    Feel free to ask questions here.

    Slam
     
  5. THUCYDIDES79

    THUCYDIDES79 New Member Silver Stacker

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    Welcome Mi Lao Shu !

    Excellent that we have members from China now.

    Good luck with silver and gold :)
     
  6. millededge

    millededge Active Member

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    Ni hao/ Lei ho ma Mi. 360 Kuai is a lot to pay for a single Panda, I think.

    I found a 5 ounce Panda coin, 1987, in a shop in Australia recently, asking price $250. Still too expensive...

    Are there many stackers in Shenzen?

    In late 2009, we saw an advertisement on Chinese TV, saying that people can now buy silver and gold bars at the bank. Is this true?
     
  7. Aurora et luna

    Aurora et luna Well-Known Member Silver Stacker

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    Welcome Mi Lao Shu
    There are a couple of Australian stackers living in China who posts here occasionally.
    Hopefully they will be able to answer any questions you post
    Cheers
     
  8. Dynoman

    Dynoman Active Member

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    Welcome Mi lao shu,

    If I were you living in China I'd be having a close look at http://www.taobao.com/index_global.php I've purchased from there before but it was very difficult communicating my purchase not speaking the language and with the site intended for the Chinese market. One thing I noticed there seem to be more Pandas outside of China for sale than within. I guess they were primarily intended for the export market and that's why there are so many outside China's borders. On the baby site there's heaps of good silver products to buy especially the fan coins, that's the cheapest place I could find them. They are a real winner in my book, just make sure you buy the legit product. Not the cheaper knock-offs.
     
  9. lionfishcoin

    lionfishcoin Member

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    Not sure about silver bar, but some banks do have the service provide 9999 gold bars with spot price.
     
  10. Dynoman

    Dynoman Active Member

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    Is true, however PBOC charge quite a high premium apparently. Is definitely considered a luxury product in China.


    [youtube]http://www.youtube.com/watch?v=6rD6QAoYxqA[/youtube]
     
  11. tthace

    tthace New Member

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    hahah mi lao shu = rice rat lol in english

    Depends on what you want but i think physical silver is more for wealth protection and definitely safer. I would go for gold/silver miners in China or junior miners who are producing or close to production since they have such low costs. Better returns imo. If you think silver is gonna hit 40-50$/oz imagine what its gonna do to those shares. 5x - 10x returns. The premiums and high postage costs on physical really eat away at your return unless you live next to a mint. I live 10km away from perth mint yet im not interested. Then again, shares carry their own risks so it all depends on how much risk your willing to take. im young hehe XD.
     
  12. lionfishcoin

    lionfishcoin Member

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    I am afraid the Chinese miners share price is way too high right now.
    http://www.google.com/finance?q=SHA:600489
     
  13. tthace

    tthace New Member

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    Market cap 51billion lol..... of course lol. go for something smaller.
     
  14. Guest

    Guest Guest

    These ones...

    [youtube]http://www.youtube.com/watch?v=PqFpl31UwPI[/youtube]

    [youtube]http://www.youtube.com/watch?v=_cjjTnUnkIc[/youtube]

    I'm interested to see what sort of availability silver/gold has in China at present for it's citizens too and more importantly, what sort of affordability is likely for the average citizen there?

    Welcome aboard mate. Great to see folks from all over the world joining up!
     
  15. SparkySilver

    SparkySilver New Member

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    Welcome to the forum, Mi lao shu!

    There a lot of counterfeit items available in China... I would study hard to make sure that what you buy is REAL silver or gold. Start by "window shopping" any known dealers in your area. Get to know what is real and what is fake. Your first buy... modern bullion coins in small sizes non-slabbed/graded (not profitable to fake)... like a Canada maple, of US silver eagle. Try not to pay more than $6.00 USD per ounce over spot. Once you hold a real 1 ounce silver coin you will be able to tell when you look for coins in your local market. Buy you a "pocket" scale... less than $20.00 USD shipped. Always weight the coins with YOUR scale when buying local. For now stay away from the pandas (lots were counterfeited in the last few years). Only buy from "trusted" sources... In person if possible, or from one of our members. Some online sellers won't ship to China, always ask before you send/pay the money.

    this is a good website to study silver coins, know the proper weight, Diameter, and Thickness; http://en.numista.com/catalogue/


    I will trade/sell you silver... and many others in our forum will too. :)


    I just watched the videos that are above... I can't imagine that volume of people buying gold.
    Those silver bars look rough... don't think I would buy those. (too easy to fake)
     
  16. Guest

    Guest Guest

    And that was just one gold store!

    If you put that in the context of just how much gold and silver is actually available for sale in the world... it's a sobering thought on where prices will eventually go.
     
  17. Mi lao shu

    Mi lao shu Member

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    Thanks guys for lot of helpful info, i am aware of lots fake things from China including coins so that is reason i dont feel safe to buy it from Taobao, my girlfriend is Chinese so buying from Taobao is not a problem dont, maybe can be ok bcoz only China register company can open Taobao shop, but it is hard to find someone in China if he cheat u, and price for 2010 silver 1oz Panda is between 320-350rmb , so it still cheaper to buy it from oversea dealers. For panda 2011 they dont know release date and price yet in Chin gold coin. I am not chinese so i dont watch chinese TV so much, so i dont know about these call from China government. So far i didnt meet any silver stackers in SZ and i never hear that any chines e is buying silver i think they r more oriented to the gold , but still didnt hear that any of of my friend buy any gold(coins , bars) either. I think it is better-cheaper to buy gold in HK, but on other hand u need to go to buy it personally from the bank i have this on mind:
    http://www.bochk.com/web/market/tra...tion=market&level_2=trading_rates&fldr_id=279
    But they dont have it on stock , u need to call them to check have someone sell it to the bank first and then u go to buy in branch where they were sold.
    Mi Lao Shu is also nick name of Micky Mouse in China , so this is real meaning of Mi lao shu. Youtube is blocked in china so i need to use VPN to watch it and still is very slow. I just remember i buy one USA silver eagle on the street few years ago here in Sz and some chinese coins bcoz i was collecting coins and stamps before, i will check it in when i go back in home country:)
    I give up from buying silver in China or Hk for now, i am going for vacation on Thailand next week so i will look there also , any suggestion? How about silver in Dubai i have cousin there ?
     
  18. SparkySilver

    SparkySilver New Member

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    The prices on the "Bank of China" website don't look good for silver.
    If I did my calculations right... 3.04 your dollars to the USD? :|

    When in Thailand visit the banks to see if they have any silver bullion coins. Also see if there are any shops that are "buying" gold and silver... if yes go there and ask if they sell.

    I was in Georgetown Grand Cayman on vacation 2 weeks ago and found a business that was advertising on a billboard to pay CASH for gold & silver. I purchased 25 ounces of .999 fractional silver coins (Bob Marley) @ just over spot. I wanted to buy ALL they had but feared I would have trouble in US customs.
    The shop owner wasn't sure what price to sell them for... so I just said $780 for 780 grams... he looked at me and said OK. :D

    In Dubai you should be able to find silver, they always have gold.
    My brother spent 4 years there back in the 80's... he stated that it was the best place to buy gold... as jewelry. 21.5K and better.
     
  19. Mi lao shu

    Mi lao shu Member

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    7.79hkd=1usd
     

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