Singapore Stackers - BullionStar question

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 said:
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 :):)
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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?
 
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.
 
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 said:
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?
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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 said:
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.
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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 said:
Thanks. I'm also not willing to be fleeced like this. I will soon sell my holdings and find an alternative.
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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.
 
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