Singapore Stackers - BullionStar question

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

  1. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

    Joined:
    May 25, 2018
    Messages:
    2,591
    Likes Received:
    1,476
    Trophy Points:
    113
    Location:
    Singapore
  2. Oddjob

    Oddjob Well-Known Member Silver Stacker

    Joined:
    Aug 19, 2018
    Messages:
    3,978
    Likes Received:
    4,774
    Trophy Points:
    113
    Location:
    Oz
    ^ That is a damn good price for Maples. Their ASE's are sub AUD26.00.
     
    66rounds and mongrelmaple like this.
  3. Grizzly

    Grizzly Active Member

    Joined:
    Dec 14, 2018
    Messages:
    127
    Likes Received:
    96
    Trophy Points:
    28
    Location:
    Perth
    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 :):)
     
    sgbuyer likes this.
  4. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

    Joined:
    May 25, 2018
    Messages:
    2,591
    Likes Received:
    1,476
    Trophy Points:
    113
    Location:
    Singapore
    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?
     
  5. whay

    whay Well-Known Member

    Joined:
    Jan 8, 2016
    Messages:
    490
    Likes Received:
    302
    Trophy Points:
    63
    Found this on youtube, caveat for customer of BS

     
  6. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

    Joined:
    May 25, 2018
    Messages:
    2,591
    Likes Received:
    1,476
    Trophy Points:
    113
    Location:
    Singapore
    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.
     
  7. Gregory Clayton

    Gregory Clayton New Member

    Joined:
    Jul 22, 2020
    Messages:
    3
    Likes Received:
    0
    Trophy Points:
    1
    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?
     
  8. Grizzly

    Grizzly Active Member

    Joined:
    Dec 14, 2018
    Messages:
    127
    Likes Received:
    96
    Trophy Points:
    28
    Location:
    Perth
    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.
     
  9. Gregory Clayton

    Gregory Clayton New Member

    Joined:
    Jul 22, 2020
    Messages:
    3
    Likes Received:
    0
    Trophy Points:
    1
    Thanks. I'm also not willing to be fleeced like this. I will soon sell my holdings and find alternatives.
     
  10. Gregory Clayton

    Gregory Clayton New Member

    Joined:
    Jul 22, 2020
    Messages:
    3
    Likes Received:
    0
    Trophy Points:
    1
    Thanks. I'm also not willing to be fleeced like this. I will soon sell my holdings and find an alternative.
     
  11. Grizzly

    Grizzly Active Member

    Joined:
    Dec 14, 2018
    Messages:
    127
    Likes Received:
    96
    Trophy Points:
    28
    Location:
    Perth
    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.
     

Share This Page