No Physical Market for Physical Silver in Hong Kong and China?

Cinvalo

Cinvalo

Member
Hey guys, can you please advice how can my friends in Hong Kong enter the silver game? It appears that over there, there is absolutely no market..and my friends is so desperate to get in.
 
Cinvalo said:
Hey guys, can you please advice how can my friends in Hong Kong enter the silver game? It appears that over there, there is absolutely no market..and my friends is so desperate to get in.
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I tried asking some friends in HK to buy me silver, they don't have a market over there. All they have are silver grains for industrial use. HK and China are into Gold.

There are a few shops in Shanghai that sell silver (Chinese coins, pandas etc), even then they are expensive compared to Australia. I think we have it lucky here, that we can buy silver easily without any GST (or VAT).

Slam
 
imagine if physical investment grade silver was easily accessible in China, I think there would be very little physical left on the market :P
 
Thanks for updating me everyone. HSBC has no physical silver. They had the silver ETF.But one thing i do not understand is this video link...

[youtube]http://www.youtube.com/watch?v=AxSm4bycPJk[/youtube]
 
Are you allowed to take silver into China legally?. There are a lot of tourists from China visiting Australia as well as a lot of migrants from China settling here. This could well be an avenue to buy silver here and take it back.

Regards Errol43
 
Yeah, I'd email Roo. Pretty sure he can ship to Hong Kong.

Last time I was there I found one entire shopping mall filled with coin shops but they were all selling junk.
 
this place has been mentioned a few times

Lee Cheong Gold Dealers Ltd
Ground Floor, 65-69 Bonham Strand East, Sheung Wan, Hong Kong
Tel : +852 2542 1400

If you take the MTR - it is at the Sheung Wan Station and you have to get out at Exit A2.

They have silver ingots in different sizes - I think they also trade in Gold and other precious metals and I think they will take silverware and give you money for it but the handling charges are higher.

Their office is at but go to the address above since it's their retail outlet.

Room 705, Wing On House, 71 Des Voeux Road Central, Hong Kong

And apparently they have been around for 60 years so I think they are reasonably reputable. The trading costs are quite reasonable and I was pretty happy with the service overall.
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HSBC dont have any silver except paper one since i am there customer i was looking there first. Bank of China in HK and Bank of China in Macau have it, when someone sell it to them, and i think price is ok. In china they like more gold but... Best way i think to order from some other country and to be deliver in HK. For Tabao i am not sre what to think, bcoz some prices r lower then u can buy in official shop in China and there is not other way to buy original in china so 2 thing r possible or they r fakes what is more possible or they r smuggled from other countries and then sell what is possible but less. And dont except that u will cheat chinese, they know much better value of the coins.Only way u get org for low price is that u pretend that u r big buyer and this is just sample for huge order, which hopefully u will never placed or u will be terribly cheated by bunch of fakes. Why I think these, bcoz last week, on Friday April 1st i buy some silver Pandas in China Gold Coin shop who is official seller for coins, stamps... I left to them my phone no to call me 3 months ago when they get some. And finally i get some, price was 350rmb, but when i get there i was surprised that price now is 375rmb for Panda 2011 1oz silver one. It was strange to me bcoz price didnt change that much that day, but decided to but , and i buy 2 x2011 1 oz silver Panda for 375rmb/pcs and 1x2010 1oz Panda silver for 420rmb. I was thinking they give u call and when u come they increase price bcoz it is not big difference, but in Monday price explode so i am thinking there is something more behind this. When i asked to buy 1000pcs
of Panda they say they maybe have only 100pcs and they dont know when/if and for what price they can have. Also i ask r they buying Pandas from customers and they say yes, but 20 years old etc. i guess for making sets. And i get member card so now with any purchase i collect points which i can use to get things cheaper from them. I buy this Pandas just to have for comparison for future purchases. Since this r my first Pandas i will post pics of them.

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Source:

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Yeah, it's not as open in China & HK as it is in Australia, but you can get into the silver game fairly easily as a buyer. Selling is a bit more difficult at the moment (taobao is probably the easiest way... until someone opens silverstackers.com.cn).

Gold is definitely much easier to get into, but it is not impossible to get into silver. I got into silver about a year ago over there, and it was much harder then.

If your friend ever stops by Shanghai I would be happy to help them. Got plenty of silver over there.


Cinvalo said:
Hey guys, can you please advice how can my friends in Hong Kong enter the silver game? It appears that over there, there is absolutely no market..and my friends is so desperate to get in.
Click to expand...
 
Pandas are such a pretty design too. A terrible shame chinese silver has such a tarnished (no pun intended) reputation.
 
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