Singapore Stackers - BullionStar question

Discussion in 'General Precious Metals Discussion' started by Grizzly, Sep 1, 2019.

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  1. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    sgbuyer, Nov 11, 2019
    #21
  2. Oddjob

    Oddjob Well-Known Member Silver Stacker

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    ^ That is a damn good price for Maples. Their ASE's are sub AUD26.00.
     
    Oddjob, Nov 11, 2019
    #22
    66rounds and mongrelmaple like this.
  3. Grizzly

    Grizzly Active Member

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    BullionStar had a deal on Maples awhile ago, when silver was over US$19. I've got a few tubes in their vault that I am patiently waiting to get my money back from :):)
     
    Grizzly, Nov 17, 2019
    #23
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  4. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    bullionstar had been quiet recently. In fact other than the goldsilvercentral 11/11 one day deal, there hasn’t been any promotions. Might be an indication that dealers think that prices may rebound soon?
     
    sgbuyer, Nov 18, 2019
    #24
  5. whay

    whay Well-Known Member

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    Found this on youtube, caveat for customer of BS

     
    whay, Nov 27, 2019
    #25
  6. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    Nothing surprising. I've seen this website and it's obvious that it is an "e-marketing" gimmick. Just buy the cheapest silver and gold, take delivery, and don't bother about spread. The bulk of my silver and gold was purchased from a skbullion which closed shop early this year.
     
    sgbuyer, Nov 27, 2019
    #26
  7. Gregory Clayton

    Gregory Clayton New Member

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    I'm amazed how huge the spread is. On my account page if value using buy price my account value $8000. If use sell price, account value is $6400.
    $1600 difference. About 20%
    It looks like a mistake.

    Same for others?
     
    Gregory Clayton, Jul 22, 2020
    #27
  8. Grizzly

    Grizzly Active Member

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    The spread fluctuates depending on which product you are buying/selling and it also seems to fluctuate based no how bullionstar is feeling. I had some of their 'no spread' 1 kg bars in the vault, just sold them and realised that no spread only applies to 100 bars per transaction. So I paid a spread on the bars, paid a storage fee etc. However, these are the costs that we must incur for physical in another country.

    I've now sold all my bullionstar physical, will see what happens, probably means the price will skyrocket from here.
     
    Grizzly, Jul 22, 2020
    #28
  9. Gregory Clayton

    Gregory Clayton New Member

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    Thanks. I'm also not willing to be fleeced like this. I will soon sell my holdings and find alternatives.
     
    Gregory Clayton, Jul 22, 2020
    #29
  10. Gregory Clayton

    Gregory Clayton New Member

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    Thanks. I'm also not willing to be fleeced like this. I will soon sell my holdings and find an alternative.
     
    Gregory Clayton, Jul 22, 2020
    #30
  11. Grizzly

    Grizzly Active Member

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    They do show the spread and premium on each product you look at. They are all different. The part that annoyed me is they change them depending on what is happening in the market, so you can't depend on the same spread/premium being in place when you go to sell.

    All that being said, I'm not sure of a better alternative, especially in Singapore which is handy for me.
     
    Grizzly, Jul 22, 2020
    #31
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