Silver Bullion 99.99%

[INTJ]

There have been several threads recently about where to buy 99.99% purity silver ingots in Bangkok, I wonder in anbody had any success ?

http://www.ylgbullion.com/product_silver.php

looked promising, but when I called said they don't sell silver, only gold.

The same with greatest gold, they gave me a contact number who only sold bags of silver grain.

I am looking for stamped silver ingots like the ones on the ylgbullion link above.

Thanks

[plachonubon]

I want to buy silver bullion too.No luck finding any so far, I think you'll find silver is taxed 7% in Thailand this is probably why!!

Have you looked into investing in silver ETF's?

There have been several threads recently about where to buy 99.99% purity silver ingots in Bangkok, I wonder in anbody had any success ?

http://www.ylgbullion.com/product_silver.php

looked promising, but when I called said they don't sell silver, only gold.

The same with greatest gold, they gave me a contact number who only sold bags of silver grain.

I am looking for stamped silver ingots like the ones on the ylgbullion link above.

Thanks

[LivinLOS]

I use perth certs.. Way too many ounces to think about personal storage..

[Tomissan]

Have you (or anyone reading this) had any luck finding a silver bullion dealer in Bangkok or anywhere in Thailand?

I am also trying to locate a silver dealer. I live in Isaan and would gladly pay a service charge to someone who could send me from Bangkok, silver bullion, even better if you're driving up here. Im looking to buy 100 oz upwards (50-100- 1, 5, & 10 baht ingots/bullion)

Or information leading to the location of a reliable silver dealer who sells bullion (not jewelery or coins)...

Muchos Gracias por any information. :jap:

Edited September 4, 2010 by Tomissan

[Lost in LOS]

SLV on the American stock market

[gregb]

Have you (or anyone reading this) had any luck finding a silver bullion dealer in Bangkok or anywhere in Thailand?

I am also trying to locate a silver dealer. I live in Isaan and would gladly pay a service charge to someone who could send me from Bangkok, silver bullion, even better if you're driving up here. Im looking to buy 100 oz upwards (50-100- 1, 5, & 10 baht ingots/bullion)

Or information leading to the location of a reliable silver dealer who sells bullion (not jewelery or coins)...

Muchos Gracias por any information. :jap:

Silver isn't done in Thailand. There are a few places that sell silver shot. There is only 1 place that will actually buy it back from you.

http://www.bkkassay.com/eng/index.php

They'll melt the shot into 500g ingots for you if you pay a small processing fee.

Be advised you must pay 7% VAT on all silver purchases in Thailand, and the market for selling is very illiquid.

If you want silver, the place to go is North America. Asia is good for gold.

[SiamRose]

Why not just buy gold? Gold is easier to carry and store and easier to sell.

[12DrinkMore]

Why not just buy gold? Gold is easier to carry and store and easier to sell.

Presumably because he feels there is more upward potential for silver.

[SiamRose]

Silver's main industrial use has been in photography, but that is falling as digital imaging takes over.

[SiamRose]

Its only time to buy silver if there is a good reason to believe that the silver/gold ratio will return to its historic level. I can't see any good reason to believe that, photographic demand for silver has gone for ever.

[gregb]

Silver IS a currency. Its as simple as that why the price will continue to increase as fiat currency's that are backed by debt will devalue.

True.

But it is a currency that is not in widespread use outside of North America. The punitive taxes placed on silver bullion make it impractical as a currency nearly everywhere outside of the US and Canada. Unlike gold which can be imported without tariffs or VAT in most countries in the world, including Thailand.

Don't misunderstand. Silver is not a bad investment for those in the US. But given the illiquid market in Thailand, it is likely a less practical investment over here. Silver will never be a currency in this country. XAU already is.

Having said that, I do hold a small amount of physical silver as a hedge in case the price soars, but I am in under no illusion how difficult it would be to exchange my silver for cash or other goods and services should the need arise. My physical gold I can change at any podunk village with a dirt road in the poorest areas of Issan. In the last 3 years I've barely broken even on silver after taking into account the VAT and high premiums. My gold has gone up over 50% in the same period.

The OP should not be worried about buying silver. He should be worried about selling it. The market is incredibly small.

[lannarebirth]

Maybe this was the parabolic move in Gold that everyone's ee waiting for?

Edited September 5, 2010 by lannarebirth

[gregb]

Your info about the taxes on silver in Thailand is incorrect. You CAN bring silver into Thailand without tariffs or VAT, if the silver is legal tender 1oz coins.

No, not incorrect. I just possibly wasn't very precise. It is correct that certain kinds of silver, such as legal tender coins as you have pointed out, can be imported without tariff, but they are still subject to VAT. I sometimes use imprecise language and that can lead to misunderstandings. Only gold bullion is imported VAT free, and yes I have verified this with a customs official. (Interestingly, there was some confusion as to whether AGEs would qualify for the VAT exemption because they aren't actually pure bullion. I haven't found anyone who can give me a clear answer on that. They are free of tariffs of course.)

As for exporting gold from Thailand and importing into the USA, that is easily accomplished. Simply swap your 965 gold here for 999 gold before you leave (999 is readily available at investment houses), and then you are free and clear importing into most countries in the world.

I don't want to disparage silver. I have a little bit, but it has serious limitations in Thailand that gold does not. Precious metals of any sort are designed to protect your purchasing power in the case of emergency. In Thailand, gold has a fungability that silver simply doesn't. That is not true in North America, but it is very much the case in Asia.

I encourage the OP before he gets over excited about trends he reads about in the states, consider the local consequences of those decisions. Silver is poor substitute for gold in Thailand. If you think you are heading back to the states though, then by all means consider Ag as a good choice.

[mania]

Silver is knocking on $20 USD/ounce

[123ace]

Silver's main industrial use has been in photography, but that is falling as digital imaging takes over.

...and its used in minute quantities in all mobile phones, it has unique medical and hygene properties, is critical is enabling solar power to work and there is less of it in existence than gold. A wide range of high tech industrial processess require silver, and once used is lost pernamently.

Do your homework - you will miss the boat on this one.

[ray23]

Well I found myself here simply from watching an interview on CNBC this morning. Less expensive to get into then gold and had a higher percentage of return last year, But buying it here in any form, haven't found anything. The interview indicated that 60% usage in electronics.

I could probably buy stock through Asiaplus now, but commissions for out of country are high.

No way do I have then money to get into Gold.

[flying]

Hard to believe a month ago silver approaches $20

Here we are a month & a week later approaching $25

Impressive

Edited October 16, 2010 by flying

[ray23]

I wouldn't bullion sitting around my house this is an alternative. Not much of a market in Thailand so I looked outside.

Thanks I checked Asia Plus this is what I got back.

Dear Ray

Yes, sure. You can buy silver stock on the American exchange through us. There are not only stock that we recommend BHP (diversified), Rio Tinto (diversified) or if you're interested in pure silver stock let's have a look at attech file and you could buy silver ETFs (Exchange Trade Funds) as well.

Now you just open cash balance account with us then after 2-3 weeks (process via BOT for 2 weeks).

Thank you

Paan

[RichardPassanante]

I have been considering sending about 100 ounces of silver bars and rounds along with my wife when she leaves for Thailand this month. I would rather do that than send US currency because I believe silver will continue to appreciate and US dollars may lose value. Am I being foolish? There appears to be no place to sell, so one has to find a buyer on one's own. Ideally her family would sell off the silver over the next year or so for living expenses.

Any advice would be welcome.

[old wanderer]

I am heavily invested in Silver, both physical bullion and a trading account. The returns the past 2 years have been absolutely astounding. I am well past 100%. My wife really did not agree with silver, she wanted gold. To pacify her I took 500 oz and traded it for 8 oz of gold. Some months later I laid on the bed 500 oz of silver, and her 8 oz of gold...."How much is it worth now?" Did the same thing New Years...except with my 500 oz I could buy 12 oz of gold....we traded the gold back for silver. Last year gold made 23% Silver 76%. It is the closing G/S ratio and the much smaller pool of players that make silver so dynamic.

I looked at when I will be spending more time in Thailand and how to deal with the silver. My trading account is with Kitco who is a Canadian company. They do currently have an office in both Hong Kong, and Shanghai. They indicated (however no one has ever requested this) if I wished to take physical delivery it could be arranged in about a week at either of those offices. They are considering a Singapore office, and that would be perfect. I have found most Singapore banks offer accounts in multiple currencies, so you can switch balances from one to another on-line at no charge, plus the ATM cards are 6 digits vs 4 here in Thailand.

Better than the ETF's they are perfectly happy to deliver your account holding to you at any time you choose. For a person with just a few hundred oz this is not practical, traveling to China for delivery, but if forced to move some assets, I would simply convert to gold for a short time, then back into my silver.

Edited February 6, 2011 by old wanderer

[Naam]

My trading account is with Kitco who is a Canadian company. They do currently have an office in both Hong Kong, and Shanghai. They indicated (however no one has ever requested this) if I wished to take physical delivery it could be arranged in about a week at either of those offices. They are considering a Singapore office, and that would be perfect.

no, it would not be perfect and i am sure Kitco has not mentioned Singapore as a location for physical delivery of any precious metal because in that case a 7% tax on goods and services would be levied. a Kitco office in Singapore might of course be convenient for you to establish a trading account for "paper" precious metals.

[CRF450X]

Your info about the taxes on silver in Thailand is incorrect. You CAN bring silver into Thailand without tariffs or VAT, if the silver is legal tender 1oz coins.

No, not incorrect. I just possibly wasn't very precise. It is correct that certain kinds of silver, such as legal tender coins as you have pointed out, can be imported without tariff, but they are still subject to VAT. I sometimes use imprecise language and that can lead to misunderstandings. Only gold bullion is imported VAT free, and yes I have verified this with a customs official. (Interestingly, there was some confusion as to whether AGEs would qualify for the VAT exemption because they aren't actually pure bullion. I haven't found anyone who can give me a clear answer on that. They are free of tariffs of course.)

As for exporting gold from Thailand and importing into the USA, that is easily accomplished. Simply swap your 965 gold here for 999 gold before you leave (999 is readily available at investment houses), and then you are free and clear importing into most countries in the world.

I don't want to disparage silver. I have a little bit, but it has serious limitations in Thailand that gold does not. Precious metals of any sort are designed to protect your purchasing power in the case of emergency. In Thailand, gold has a fungability that silver simply doesn't. That is not true in North America, but it is very much the case in Asia.

I encourage the OP before he gets over excited about trends he reads about in the states, consider the local consequences of those decisions. Silver is poor substitute for gold in Thailand. If you think you are heading back to the states though, then by all means consider Ag as a good choice.

Legal tender coins are just that, legal tender. Meaning, in the country that there were minted they can be use to pay a debt. They are NOT subject to VAT, as it would be akin to you bringing in USD to Thailand and being charged VAT on that. It should not happen. Legal tender coins are considered foreign currency under the currency exchange act of Thailand.

I recently returned from Canada with Maples on my person, and customs saw them in my bag. I opened them, showed them, and told them what they are, and a few minutes later I was on my way without paying tariffs or VAT. And we are talking a lot more than a coin or two.

As far as swapping your gold here, for other gold that is 999, you are now incurring additional transaction costs and still, you can and will be charged duty on the bullion when you enter another country. If you buy gold here, be prepared to liquidate it here. If you buy maples that are legal tender, you are free to take it around the world on your person with out incurring tariffs.

I am glad you have silver, but just wish you would realize that there is a lot of potential for silver to become an investment here in Thailand. The fact that gold has been accepted as a store of wealth for many years does not mean Thais will not ever accept silver as well. Look at China, this past year they have been telling their people to buy silver as an investment. If the Chinese start buying, you can bet the Thais will follow.

Precious metals do more than just protect your purchasing power. They diversify your assists, and being diversified in the different metals is also wise as they all are different. Personally, I am most bullish on Palladium for the long term, as it follows Gold and Silver as a store of wealth during a financial crisis, but it has hundreds of very important industrial uses, and I believe it will play an important role in our future. And, its available in Thailand.

You should not tell the OP that silver is a poor substitute for gold, because its not a substitute but instead its own unique metal that has serious potential to continue to increase, where gold at these levels is more likely to pull back and correct for a while.

Silver is available here and there is a growing market. Now is the best time to be accumulating the white metal, before it is the one in the mainstream......IMO.

Vibe I love your views on silver, I would love to email with you some and get more of your insight. I have been invested in silver for a few years now and the potential I see is amazing. I need to talk with you and share a few ideas,, email me at [email protected] Thanks

[hermespan]

"If you buy maples that are legal tender, you are free to take it around the world on your person without incurring tariffs."

HALF true?

I have my doubts that this is true in India. Or rather, you are free to bring them IN with you, but you must also take them OUT with you when you go. This causes a logistical problem for me as I prefer to keep a substantial amount of my wealth in precious metals and I travel constantly. My intention is to after travelling through a dozen Asian countries, settling in one, bringing my hard assets with me, and renting a safety deposit box once I make that choice.

Does anyone on this forum have plenty of experience travelling with serious amounts of gold throughout a variety of Asian countries?

Edited March 9, 2011 by hermespan

[JoeCard]

The place buy silver in all shapes and % is Taxco Mexico, never seen so many dealers all gathered together on a beautiful sorrounding

It is worth the adventure.

Joe

,

Have you (or anyone reading this) had any luck finding a silver bullion dealer in Bangkok or anywhere in Thailand?

I am also trying to locate a silver dealer. I live in Isaan and would gladly pay a service charge to someone who could send me from Bangkok, silver bullion, even better if you're driving up here. Im looking to buy 100 oz upwards (50-100- 1, 5, & 10 baht ingots/bullion)

Or information leading to the location of a reliable silver dealer who sells bullion (not jewelery or coins)...

Muchos Gracias por any information. :jap:

Silver isn't done in Thailand. There are a few places that sell silver shot. There is only 1 place that will actually buy it back from you.

http://www.bkkassay.com/eng/index.php

They'll melt the shot into 500g ingots for you if you pay a small processing fee.

Be advised you must pay 7% VAT on all silver purchases in Thailand, and the market for selling is very illiquid.

If you want silver, the place to go is North America. Asia is good for gold.

[Jayman]

I am a huge silver bull and own much physical silver that I bought from the US. Silver has been considered money for thousands of years and even the Thai word for "Silver" is the same word used for "Money".

Talk of buying paper silver is misinformation. That is just "pretending" to own the silver. I don't care what central bank or mint you buy your paper from I can tell you without ANY doubt that more than 1 piece of paper (claim) exists for every piece of metal they have. That goes for gold as well. This fractional silver/gold system has been around for a while. Must more paper silver is sold on the open markets to help manipulate the price lower. As long as ppl think the paper is worth equal value in metal then this system will keep working. But ppl are waking up. I'm not just talking about your ppl on the streets either. I'm talking about the big guys like central banks. Just in the past few weeks Hugo Chavez (Venezuela) asked the BOE and Fed Reserve to return all their gold holding in physical form for delivery within dayshttp://www.lmgtfy.com/?q=chavez+gold

Don't be fooled by paper silver. If you know enough to want to own silver then don't play yourself by buying into the paper "hype". Get your physical metal and bury it like a pirate.

Edited September 5, 2011 by Jayman

[mazd2]

Does anybody know where to buy silver and gold bullion coins/bars in thailand, or even seasia?

[fletchsmile]

SLV on the American stock market

And what will happen to all your money that you "invested" in SLV if it ever comes to light that they are not holding the physical amount of silver that they say they are? They have not been audited to prove their holdings. This, is a sign to stay away from it, as its just some ink on some paper in all reality. If you dont hold it, you dont own it.

Pretty much the same as will happen the day people who claim to have physical holdings at certified depositories when they find out that their's isn't there either. If you believe in physical it had better be where you can see feel and touch it

Depository on someone else's premises: fraud risk? theft risk? stock lending? operational risk? not properly segregating client accounts? damage? insufficient insurance liability?

Each have their pros and cons. I find it generally quicker to click a mouse sell and have free funds available than catch a plane somewhere and collect it myself

Edit: Forgot to add, the Chinese are quite proficient in produces fake/ sub-standard quality products in the same way they do for virtually everything else. Come to think of it the Thais are good at producing fakes too. So careful what you're buying

Edited November 23, 2011 by fletchsmile

[mccw]

So the Canadian maple leaf is sold VAT free in Canada and USA? But in UK it has the 20% VAT. Would I be liable for duty on entering the UK with 4 or 500 of them? If not, even after flights and hotel it would still be well worth the mission; to the tune of a couple grand.

Also the dealers % mark up over spot here is quite steep; how is it in US or Canada ? Best place to order and collect? Any ideas? Cheers

Thanks

[mika255]

Together with my Thai partner we are making Silver jewelry.

We buy Silver pellets per kilo in BKK and we also make 500 gram bars of it to invest in this precious metal.

Our Silver bullions are 99.99 % pure Silver and stamped.

If you are looking for some Silver bars you can contact me.

[mika255]

Does anybody know where to buy silver and gold bullion coins/bars in thailand, or even seasia?

Together with my Thai partner we are making Silver jewelry.

We buy Silver pellets per kilo in BKK and we also make 500 gram bars of it to invest in this precious metal.

Our Silver bullions are 99.99 % pure Silver and stamped.

If you are looking for some Silver bars you can contact me.