This is about the new eBook I’m writing title: Practical Guide for Investing Silver in Malaysia. After blogging about silver in Malaysia for few months, I realized the posts that I wrote have been very much on my random thoughts and ideas rather than information being presenting in any particular structured manner. Therefore I have decided to write a simple eBook to share the knowledge regarding silver in Malaysia. The content mostly are my personal first hand experience, but obviously I do not know everything; on those topics that are important and I do not have first hand experience, I’m doing my best to research on the subject before present it into the eBook. Continue reading
This is a review on one of the most active silver sellers in Malaysia. Asiana Sulong has been selling her silver in Facebook for some times, I have bought from her 2 times. Overall I’m happy dealing with her except there is a little misunderstanding in the delivery process but gratefully we managed to sort it out.
Anyone who has bought from Asiana Sulong before might probably recognize the following picture. In fact, I published the photo on my Facebook and immediately there was a friend commented on it saying “It must be Asiana Sulong packing!“.
American Silver Eagle (ASE) is one of the most popular silver coins in Malaysia. Year 2012 has arrived and unfortunately at the point of writing this, there is still no sign for ASE appearing in Malaysia silver the market yet. Apmex has started selling it, I’m sure some of the local silver distributors have bought them and perhaps waiting for the arrival to Malaysia. I’m one of the people who has been expecting and waiting to own at least a piece of it to appreciate the beauty of the coin.
A lot of collectors and investors bought American Silver Eagle not only for the beautiful design but also for the liquidity (how easy to sell it off if a person need to convert the silver in cash). Mike Maloney once said his favorite silver coin is ASE too! Continue reading
Silver in Malaysia – MySmartGold (Part 1)
This post is dedicate to people who are interested to buy from MySmartGold but unsure how, unsure of their credibility, unsure of their professionalism or basically concerned about the whole precious metal purchase transaction. I personally have bought several bars from MySmartGold, the following is my non-bias review on their service of selling silver in Malaysia.
On the website you could find a person’s name – Marcus Chong appears repeatedly. His contact number is 016-2222355. He will be the first person you will in touch with if you are buying silver or gold from them. Unlike some other retail precious metal businesses, his phone number is always reachable. I have called him more than I could remember, there was only one time I couldn’t get him on the phone. But the interesting thing is, I got a call back from him in less than 2 minutes. (Note: There is another retail precious metal business I dealt with that I have called for several days and several times a day, yet still couldn’t get through the line.)
Once you get through the line with Marcus, he can speak fluent Mandarin, Cantonese and English (not sure how good is his Malay though). MySmartGold distributes several types of silver (different brands and sizes of bars). Please go ahead and ask Marcus and he will explain the different type of silver they are selling and will ask you which one you prefer. If you are buying more than 1 bar, you can also mix and match the bars. The last time I dealt with MySmartGold, they have the following types:
- PAMP SUISSE bar (1 kilo – low in stock usually)
- Hong Kong bar (1 kilo – without certificate)
- Oneasia Gold Mint bar (500 gram – comes with assayer certificate)
They are selling all the bars with the same price, according to the rate display on the website; so you might want to consider buying PAMP SUISSE bar, Oneasia Gold Mint bar, and lastly Hong Kong bar. Of course, that would also depend on whether the size of the bar fits your investment appetite. After you have confirmed what type of bar that you want to purchase. Marcus would quote you a “at the moment” rate (as price is changing every second), but it would have very very little difference from the rate displayed on the website. You may even request him to send you SMS to confirm the price he just quoted you and the bank account number to ensure there is no misunderstanding and no room for mistake.
Next is to proceed with payment. They do accept payment from several banks. I have forgotten the another, but the one that I used was Maybank. I used Maybank2u to transfer the amount to MySmartGold company account. Note: NOT his personally account.
The lady in the image is for viewing pleasure purpose only 😛
Most people are buying silver in Malaysia at a price dip. When a price dip do comes, there will be many people contacting and buying silver from MySmartGold all together. The amount that online user can transfer is usually cap at RM 5,000. If you are buying precious metal that cost more than RM 5,000, for example RM 7500, Marcus would remind you not to bank in RM 5,000 + RM, 2500 as it would be hard for him to trace who deposited RM5,000 to him as there could be several other buyers are also banking in RM5,000 – especially during price dip and many people are buying at the same time. So, instead of banking in amount of RM 5,000 + RM, 2500, you might want to consider banking in RM3750 + RM3750. It is still 2 transfers, but it would be unique to your price.
Next, is to collect your silver in their office. However do give them prior notice that which data and time that you are arriving so that there will be people to stand by to wait for you and have your precious metal ready.
The location of the office is right behind Wisma Rockwills. Their office is near to a assayer office and next to a Mamak store. Be reminded that the area is not easy for parking. If you have a choice to drive a big car or small car on the day of collection, go ahead and drive the smaller car. As you can expect, their office is highly secured, equipped with multiple layers of gate and multiple high resolution CCTVs are install along the way to reach the office. Once you reach to the ground floor of their office, Marcus would open the gates for you accordingly.
When you reached their office, they would bring out your precious metal. Marcus would unwrap it and measure it with an electronic scale in front of you. If you are buying silver bars that comes with assayer certificate, he would also let you examine the serial number on the certificate matches the serial number on the precious metal. After that, Marcus would wrap back your precious metal and share some useful tips on how to avoid silver from tarnish.
Here you go! You have just bought MySmartGold silver bar.
The above are the standard procedure of buying silver bar from MySmartGold. Stay tuned for my next post on my personal point of view about buying from MySmartGold.
Greeting from 1StopGold Malaysia
I bought several PAMP SUISSE silver bars from 1StopGold in earlier of this year (2011). Today, as year end is approaching, they have sent a season greeting card as an “appreciation for your support throughout the year”…well, that’s what written on the card.
I sincerely feel this little act has touched my heart a little although there has been disagreement between us. The most interesting about the card is they printed a customized card (rather than those that people buy from bookstore) and many of the staffs signed on it (rather than a simple company stamp). I found this is very refreshing. I received many cards from people throughout the year, but I have to admit this is one of the most special card I have ever received.
They have wide range of silver product but apparently you can buy the silver bar easily. Other silver products that they offer require buying in volume and pre-order. You can look at the silver bar they are offering at: 1StopGold Malaysia However do note that the price they put up on their website is not updated live. For proper quotation on how much is for 1 kg silver bar, you will have to call in and get a official quotation / sales confirmation from them.
One cheer for 1StopGold Malaysia !
Title: Silver The New Shine
Sub-Title: Your Timeless Investment And Protection In An Uncertain World Of Paper Money
Through the book, you will find a new knowledge about how silver can make the world goes around. One of the amazing truths about silver is that the demand has surpassed the supply for 16 straight years since 1990. Thus, the book can help you to start investing in silver ─ in the right direction!
About The Author:
Dr Kong Voon Sin was as Chartered Accountant. He decided to retire and go full-time into living. He is a member of an Education Fund which supports poor students, an old Putera of RMC and an active member for Rotary for the last 30 years. He was Chairman for the Malaysian Hypertension Club, Chairman of the Malaysian Healing Chi Association and also committee member for Strategy Committee for Rotary and also a trainer for The Rotary Foundation. Apart from being a silver dealer and speaker, he sings with the Selangor Philharmonic Society, dances contemporary, an author and yoga practitioner. His mission today is to transform lives through safe investments and financial education while having the ZEST FOR LIFE!
Title: Why Gold? Why Silver? Why Now?
Sub-Title: How You Can Profit From Precious Metals
This book shares on the intuitions of silver investment and how it can turns your life around. Through the book, the author will take you on a journey of a lifelong fulfillment in new decade of silver investment.
About The Author:
Jonathan Quek is Asia’s Youngest Wealth Coach. As an authority in the field of Wealth Creation & Financial Management, Jonathan is currently a leading financial speaker, trainer, author and alternative investment practitioner. Being a regular guest speaker on the Asian conference circuit, Jonathan has been receiving invitations to a long list of financial giants, corporate organizations and education institutions all year round. Jonathan has been much sought after by the media on personal financial tips and was interviewed on TV2, New Straits Times, Gorgeous Magazine, Feminine, and The Malay Mail. Jonathan is the founder of SilverMalaysia.com and the co-founder of True North Asia, a trailblazing alternative investment firm in Malaysia.
How to buy silver in Malaysia
Many silver beginners have problem learning how to buy silver in Malaysia. Beginner often search through the internet and will randomly come across some sellers that provide silver to retail market but the buyers might not know what are the other options of how to buy silver in Malaysia.
Facebook Individual Seller – how to buy silver in Malaysia
Using Facebook group page is one the quickest and easiest methods to buy silver in Malaysia. There are more than 5000 members in a local Facebook silver community are actively trading silver in small to medium quantity. The number of member is still growing. The group is known as Silver Shop Lot. There are easily 50 – 100 posts each day that discuss on the active sales threads. A lot of members would closely monitor the thread in case there is any good deal that come up and they an quickly snap the deal. Apart from selling silver bars and coins (or round), the members also sell and buy silver related accessories such as air tite and weight scale. This is the most active online community for a beginner to have real life experience to learn how to buy silver in Malaysia.
Forum Individual Seller – how to buy silver in Malaysia
There are several forum threads that discuss how to buy silver in Malaysia. Some are even some discussion about precious metal in paid membership forum, but the most active forum that discusses about silver investment is in Forum Lowyat. There has already been 2 versions of the thread, the first thread is how to invest silver in malaysia, and the second (latest) version is Silver as investment V2. There is a lot of active discussion about almost everything related to silver. In the beginning of the thread, there were a lot of members offering their silver to be sold in the forum, however as more and more members were mixing the silver discussion and silver selling in the same thread, some of the members took the initiative to create another Facebook group specifically for the members from Lowyat Forum. More to be covered in the later part of the article. For now, there are still some forum members use a signature (at the bottom of a post) to notify the member on what they are selling.
eBay Individual Seller – how to buy silver in Malaysia
eBay is another source when you are considering how to buy silver in Malaysia. The sellers in eBay are relatively more ‘reliable’ compare to other individual seller as the seller has a reputation record that tie to their account. Buyer could leave a bad feedback to the particular seller therefore the sellers would be more responsible with their action. Of course if you are buying silver from eBay seller for the first time, do consider buying it from a seller who has a reasonable length of good history feedback from his customers / buyers. Another note, do consider buying from local eBay seller rather than international seller as importing silver coins from overseas might subject to tax. Click here to learn more about tax for silver in Malaysia. Feel free to check out a list of eBay sellers I have compiled in my website. Disclaimer: I have no direct or indirect business or personal relationship with them.
Website – how to buy silver in Malaysia
There are many websites floating in the internet that sells precious metal (gold and silver) as their business. Please refer to my Online Store Compilation List to check out some of the websites that are selling silver online. Be noted that such website is easily accessible and they offer higher credibility compare to individual seller. However you can forget about buying silver with a good price, big discount, or low premium. These websites typically make a good profit for setting up a good looking website for you to come in and buy silver from them. The main objective of these websites are to make money from you so that they can survive. Some might claim that they are providing a service to the public to buy silver but the bottom line is they need to earn a premium from you to ensure the continuity of their business. Nevertheless, if you are looking for a hassle free way of buying silver in Malaysia with good customer service, buying from website could be an option for you while you are considering how to buy silver in Malaysia.
Hope you have enjoyed reading How to Buy Silver in Malaysia!
Ever since I have posted an article titled “Silver Price in Malaysia”, I’ve been receiving some emails from readers on how to invest silver in Malaysia. In this article, I’ll be sharing some of the factors to take note while investing silver in Malaysia.
Research on the type of silver in Malaysia, know your options.
This is the most important step before starting to invest silver in Malaysia. Silver appears in many forms in Malaysia. Although almost all silvers are imported from overseas, there are legal tender coins, rounds, variety sizes and brands of bars are being traded freely in the local market. Conduct brief research on local online forums, Facebook group pages and local websites where the silvers are being traded. You have to understand what options you have before you invest silver in Malaysia in any form of silver. If you do not know your options, very likely you will be ‘slaughtered’ by the market rather than making money from it. For example, one of the local retail sellers who provide a Guarantee Buy Back scheme and another do not. However the sellers who provide a Guarantee Buy Back scheme do charge a higher premium for the silver while another seller is selling at a cheaper price. You will have to decide for yourself whether you the option of buying silver at a lower price or the option of buy a premium silver that tied to a Guarantee Buy Back scheme. Analyzing all the options to invest silver in Malaysia could be a little over-whelming in the beginning, but once the first round of analysis is completed, the coming investment journey is very much smoother.
Investment goal is a must and keep to your budget.
Just like any other form of investment, you must have a clear investment goal while you invest silver in Malaysia. An investment goal merely means what is your plan to enter silver investment such as what form of silver to buy. Then you would have to determine how would you manage your silver investment such as whether to practise dollar cost average by using certain amount of Ringgit to buy silver every month. Lastly is to find determine an exist strategy. Many experts believe silver is destined to shine in the near future; therefore having 3 – 5 years holding period (or even longer) before cashing out your silver might be a good idea. However, one of the very important notes is NEVER borrow money to buy silver. You should only invest silver in Malaysia with excessive cash that you do not need because silver spot price is a highly volatile. You must keep to your budget while investing silver as you do not wish to trap into a situation where you borrowed RM 10, 000 from financial institution which charge you 10% interest and your silver investment has been falling in value (as silver price could drop anytime without prior warning). Since silver has a lower liquidity in Malaysia market (compare to gold), which means when you need to cash out your silver, it might not be easily turn physical silver into cash very quickly. Therefore you must have an investment goal that you are comfortable with and only invest silver in Malaysia according to your budget.
Deal with silver with honour.
You will with a dealer to invest silver in Malaysia. There are many silver dealers in Malaysia. The dealers consist of individual dealers, dealers who work in a network and retail dealer who rent a commercial unit to sell silver. In the precious metal business, bear in mind that honour is a very important element. Traditionally in Malaysia, precious metal is a business where the industry player might not be highly literate but the industry players do honour their words in their transaction. A lot of silver dealers in Malaysia do allow their customers to ‘lock in’ the spot price through a phone call as a value added service to invest silver in Malaysia. Many buyers would take advantage of this service to ‘lock in’ the best price. However the buyers do not have a crystal ball to predict the lowest price. If the price started to fall 5% (which is very likely to happen) from the price the buyer has just ‘locked in’, the less honourable buyer would cancel the previous order to avoid the paper loss of 5%. This is not an honourable act. Currently there is no official law that prevent such behaviour; however there has been a local case in Malaysia where the dealers threaten the buyer for a lawsuit if the buyer does not honour the deal. Bear in mind that invest silver in Malaysia could get yourself into trouble if you do not honour your verbal deal.
There is not a lot of available resource available that discuss about how to invest silver in Malaysia, I hope this article would serve as a starting point for you to invest silver in Malaysia.
A Malaysian guide for Silver Price in Malaysia
There isn’t any fixed silver price in Malaysia. Repeat, the silver price in Malaysia is not fixed by individual or any organization. However, silver collectors and investors do have several favorite sources to benchmark silver price in Malaysia before they make any purchase. Base on the price (in USD), collectors and investors would convert the price back to Malaysia currency (RM) to get the silver price in Malaysia. The author would start off with how silver price in international market relate to silver price in Malaysia and then silver prices published by local silver seller and share an interesting story about silver price in Malaysia at the end.
1. Using Kitco to benchmark silver price in Malaysia
Kitco is one of the favorite source for Malaysian to check silver price. The image below is particular famous as it provide 3 days history of silver price.
- Silver Price in Malaysia using Kitco (USD)
2. Using SilverPrice.org to benchmark silver price in Malaysia
SilverPrice.org is another favorite source to check silver price in Malaysia. Reason being is because when a person type “silver price” in Google, the first 3 results are coming from SilverPrice.org (at the point of writing this page). The silver price would be shown in the following graph:
3. Using 1StopGold to benchmark silver price in Malaysia
1StopGold is one of the biggest silver sellers that offer silver at competitive price (in Ringgit). The price 1StopGold offers has one of the lowest spread among all silver sellers. However do note that there are several negative remarks regarding their service in the silver seller and silver investor community. The price 1StopGold published on their website is not updated live, 1StopGold only update the website price once a day. Buyer will still have to call in to get the current price. You may check 1StopGold silver price here.
4. Using MySmartGold (live rate) to benchmark silver price in Malaysia
MySmartGold is another one of the biggest silver seller in Malaysia at competitive price (in Ringgit). Their silver price is transparent and easily accessible. The silver price is updated every second during their trading hours. Although the spread is slightly higher compare to 1StopGold, but the remarks from silver buyer is the whole transaction is way better. You may check MySmartGold silver price from here.
5. Using Facebook to benchmark silver price in Malaysia
At the point of writing this page, there are 2 very active Facebook groups that actively buying and selling all type of silver to the members. You may have to join the group before you can start posting. If you are a buying silver (coins or bars) in a smaller scale, this might be the place you want to check out the silver price in Malaysia. The Facebook group pages are:
6. Using other sources to benchmark silver price in Malaysia
There are a lot of smaller independent silver sellers who are not attached to any organization. They published their prices on their websites, eBay, forum, etc. You may check out more from here.
Real Life story for Silver Price in MalaysiaWhen the price of silver is hanging around USD 33+ (base on Kitco), I made a purchase of 1 tube of American Silver Eagle (x 20) coins from one of the sellers that offer competitive price. He has quoted me RM142 / oz which I found it reasonable after comparing to some of the other silver sellers. The next day, I was talking to my friend who happens to also bought 1 tube of American Silver Eagle (x 20) coins. My friend has paid for RM130 / oz. The seller does not sell silver for a living and was desperate to cash out fast. Therefore my lucky friend got to buy it with such a low price.
The point of sharing this experience is to tell that there is no fixed price for silver in Malaysia. The silver price in Malaysia is totally about willing buyer willing seller.
Good luck for getting the lowest silver price in Malaysia!