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BULLION INSIGHTS

Stay Updated with the Latest News, Events and Insights into Precious Metals Investment

The Perth Mint Certificate Program (PMCP) and Perth Mint Depository Distributor Online (PMDDO) is the only Government Guaranteed precious metals accumulation Program in the world and is backed by physical metals in Perth. PMCP & PMDDO clients have legal title to their precious metals stored in Unallocated, Allocated and Pool Allocated accounts.
“So, are we able to take physical delivery of the metals?”

 

Definitely! For both PMCP and PMDDO, clients are able to take physical delivery of all or part of your holdings whenever you decide to. You may just drop GoldSilver Central (GSC) an email or a call (+65 6222 9703) to provide us with the instructions and we will assist you in the process.

 

Before choosing the type of physical to take delivery of, below are some important information you will need to know.

  1. For PMDDO, clients are able to choose the physical item(s) on the PMDDO portal itself and as for PMCP, clients may liaise with GoldSilver Central (GSC) to take delivery of the item(s) you choose.
  2. Coins are not within the list of physical that you can take delivery of for PMDDO clients.
  3. Only Cast Bars are available for the physical delivery.
  4. Fabrication Fees can be referred to on the list published on The Perth Mint website.
  5. Upon confirming the quote for the physical delivery from The Perth Mint, clients will need to make payments for any/all outstanding amounts with The Perth Mint before the items will be processed and dispatched.
  6. Clients are to provide at least 2 weeks notice for the physical delivery. However, due to the disruptions caused by the measures implemented to prevent the spread of Covid-19, this may take a longer time.

 

 

GoldSilver Central is proud to be the only Authorised Dealer in Singapore for the Perth Mint Depository Online and the Perth Mint Certificate Program. Act now and own a Government Guaranteed Precious Metals Certificate today!

Suzane

In Singapore, Investment Precious Metals (IPM) are exempt from the Government’s Goods and Services Tax (GST) staring on 1 October 2012. However, only Precious Metals in the form of a bar, ingot, wafer and coin that meets certain criteria can qualify as IPM. Bullion, jewellery, numismatic coins, scrap Precious Metals, Gold or Silver in collectible or gift forms are not qualified as IPM and hence not tax exempted and will still be subjected to the 7% GST.

 

So what is IPM and what is the criteria to qualify as an IPM bar, ingot and wafer? Below is a short summary of the criteria:

  1. Gold has to be of at least 99.5% purity, Silver at least 99.9% purity or Platinum at least 99% purity.
  2. It has to be capable of being traded on the international bullion market.
    A precious metal bar, ingot or wafer refined by a refiner with the following accreditation/ endorsement is regarded as meeting this criterion:

    1. (i)  For gold and silver, a refiner in the current or former ‘Good Delivery’ list of the London Bullion Market Association (LBMA)5;
    2. (ii)  For platinum, a refiner in the current or former ‘Good Delivery’ list of the London Platinum & Palladium Market (LPPM)6; or
  3. It bears a mark or characteristic that is internationally accepted as guaranteeing its quality. For example, the hallmark of a LBMA accredited refiner.
  4. It is not a decorative bar, ingot or wafer or a collector’s bar, ingot or wafer.

For the criteria of IPM coin, it is exempt based on criteria similar to those for IPM bar, ingot and wafer. Also, it is or was a legal tender in its country of origin. Here are some example of well-known IPM qualified Gold, Silver and Platinum coins.

 

List of qualifying Gold coins

America Buffalo
Australia Kangaroo Nugget
Australia Lunar
Austria Philharmonic
Canada Maple Leaf
China Panda
Malaysia Kijang Emas
Mexico Libertad
Singapore Lion
United Kingdom Britannia
Canada Call of the Wild series
United Kingdom Lunar
United Kingdom The Queen’s Beasts series
Australia RAM Kangaroo
Australia Dragon Rectangular
United Kingdom Royal Arms

 

List of qualifying Silver coins

America Eagle
Australia Kookaburra
Australia Koala
Australia Lunar
Austria Philharmonic
Canada Maple Leaf
China Panda
Mexico Libertad
United Kingdom Britannia
Australia Saltwater Crocodile
Canada Wildlife series
Canada Birds of Prey series
United Kingdom Lunar
Armenia Noah’s Ark
Australia Kangaroo
United Kingdom The Queen’s Beasts series
Australia Funnel-Web Spider
CanadaSupermanTM S-Shield
Canada Tree of Life
South Africa Krugerrand
Australia Dragon Rectangular
United Kingdom Royal Arms

 

List of qualifying Platinum coins

America Eagle
Australia Koala
Australia Platypus
Canada Maple Leaf
Austria Philharmonic
United Kingdom Britannia
United Kingdom Lunar

 

For full, complete guide on Exemption of Investment Precious Metals, please click here.

 

Fact of the day:

South Africa Krugerrand Gold coins and American Eagle Gold Coins are not GST exempted in Singapore as it does not meet the requirement of Gold purity of at least 99.5%. South Africa Krugerrand Gold coins and American Eagle gold coins are minted in 22k Gold which is 91.6% Gold but their gross weight weighs heavier than 1oz hence it still consists of 1oz of fine Gold for the 1oz denomination.

 

As a professional, reputable bullion dealer in Singapore, GoldSilver Central mainly deals in qualifying Gold, Silver and Platinum coins from LBMA accredited mint and refinery.

 Evonne

 

When we talk about pawning, people might have a bad impression or feel that it is bad luck to step into a pawnshop, i.e. old shop with high counter top and bars at the counter, lack of transparency in price quotation, bad attitude of valuer and the hassle of frequently travelling to pay the interest etc.

Nevertheless with the number of pawnshops that have grown nationwide to serve locals and foreigners who reside in Singapore, many now find that it’s easier to enter a pawnshop as they have a modern look and approach to business. But most of the time, you might still face difficulty to pledge your Silver and Platinum bullion as pawnshops usually only accept gold (jewellery, bars, coins), watches and other valuable items.

Quick info sharing about the situation here in GSC, we have a good mix of all 3 precious metals clients placed in our collateral loan program but in terms of weight, Silver still leads Gold & Platinum. This data distinguishes us from other pawnshops, showing that we can assist our clients in attaining short term liquidity for Gold, Silver & Platinum to meet their needs.

GSC liaises with a licensed pawnbroker to offer the collateral loan service to clients who need instant cash while retaining the ownership of their precious metals. Our friendly and experienced staff will assist in assessing the value of your item. Prices are transparent and published online. If travelling back and forth is painful for you, we have it taken care of. You may bank transfer the interest to the pawnbroker without travelling all the way down. Let us get all the admin, paperwork and liaising done for you so that you can enjoy the hassle-free experience of pledging your precious metals with a reliable firm.

What are you waiting for? Contact us now to find out more about our collateral loan program!

Maya

 

With the use of MetaTrader 4 (MT4), a widely renowned trading tool commonly associated with forex, GoldSilver Central brings you GSC Live!. With convenience and flexibility in mind, this platform enables you to purchase pool allocated precious metals with just a click of a button. With your pooled holdings in the platform, you can choose to swap your pooled holdings for physical bars or coins or to determine a price level to sell it off and take profit.

 

Functions of GSC Live!

GSC Live! comes equipped with a set of indicators readily available for your use, such as Bollinger Bands, Commodity Channel Index (CCI), Relative Strength Index (RSI) and more. These indicators provide insights on price movements and price trends, supporting your decision to purchase or sell. Adding on to that feature, GSC Live! brings automation to the table. By indicating a price level to purchase or to sell, what we call a buy or sell limit, GSC Live! will execute the order automatically once that price level is reached, even during the wee hours of the night. Gone are the days of looking at prices and charts for countless hours!

 

Security and Physically Deliverable

“Am I just buying into paper Gold?” A question that I have heard numerous times and one of the main concerns that clients have over the past years. I would like to use this chance to address it. All holdings on GSC Live! are physically deliverable and are held within the GSC Vault network. You can swiftly convert your holdings on the platform into bullion bars or coins by informing us of your intentions and paying a premium (varies across different products) for the physical item.

 

Possibilities of GSC Live!

Here are some scenarios GSC Live! can fulfil your Precious Metals’ Needs:

  1. Doing your own Cost Averaging

You can slowly accumulate your target weight of Gold or Silver over a timeline you are comfortable with. (For eg. Buying 0.1oz of Gold every week for 10 weeks to convert into a Canadian Maple Leaf Gold Coin 1oz, averaging out the cost of coin.)

 

  1. Investing in Precious Metals within your specified Budget

By utilizing the buy limit function, you can set a price level to purchase the precious metal. Once you have done that, leave the rest to GSC Live!. When the price reaches the indicated level, the precious metal will be automatically be purchased.

 

  1. Short Term Physical Trades for Profit

Without allocated physical premiums, you can purchase pooled precious metals and if you made the right call, it will be easier to make a profit, leaving out the consideration for prices to cover the premiums cost.

 

Sign up today to start your precious metals journey with GSC Live!

 

Sin Pong

Those of us who purchase coins know that coins usually incur higher premiums compared to bars. We know it and yet we continue to do so, sometimes even incurring premium differences of more than 15%. The question is why? Today, we’ll discuss a few of the possible reasons and see if they continue to remain valid during this period, when precious metals come back into the spotlight.

 

Unique designs

Coins are usually minted differently from bars. Detailed designing goes into the coins, which increases their aesthetics (and premiums also). Designs change annually, resulting in a novelty factor. Take for instance the China Panda Silver Coins, where the design of the pandas, the backdrop of the coin setting and even the number of pandas present on the coin are highly scrutinized by avid investors. Different designs each year have also led to investors “collecting” them annually and then reselling the entire set for higher premiums. The different designs sometimes lead to higher demands for certain years also, for instance only the 2013 year has 3 pandas on its coins or the 2015 year which has no weight or fineness inscription and being the last year with 1 oz weight (subsequent years are cast in 30g basis) These years are highly sought after by investors who deem them as “rarer” than usual years. Hence, investors who purchase them possibly on the second hand market, are willing to pay a higher premium than average for these coins.

 

Bite sized amounts

Coins have generally been minted and stacked in denominations of 1oz whereas bars are usually of much larger denominations (10oz, 100oz). Investors value the small denominations as it allows them to buy and sell in smaller “amounts”. If say I have set aside SGD$1000 monthly for precious metals investments, I would be able to purchase approximately 22 pieces of 1oz silver coins at the current prices, compared to having to save up 4 months for a $4100 100oz silver bar. Bear in mind that I am only able to purchase a smaller quantity due to the higher premiums of the silver coins but I am also able to have spread out my purchases across multiple points. Prices might also have moved against me in that time period. (I wont complain though if it moves in my favour!) Similarly I am able to sell off my 88 x 1oz silver coins at different market prices, compared to having to sell 1 x 100oz silver bar.

 

PS: GoldSilver Central has products that allow investors to perform a daily Dollar Costs Averaging Savings plan called GSC Savings Accumulation Programme. Click here to find out more.

 

 

Tender Value

Coins produced by the refineries have a legal tender value on them too, which bars do not have. If you present a American Eagle Silver coin 1oz to the banks in the US, they will be bound to buy it back at a tender value of $1. Its significantly low compared to the current silver market price ($26+) yes, but in the scenario where Silver drops below $1, you have a guaranteed buyback of $1. Silver bars on the other hand, don’t have a legal tender value on them. This form of insurance might appeal to the cautious nature of us and some investors do consider this when purchase coins.

 

There are also cons to purchasing coins though and should be considered also.

 

Buyback Prices

High premium coins may not necessarily translate to higher selling prices when you are looking to sell it off. Precious Metals dealers look to provide liquidity in the physical market by offering two way prices. In order to do so, they usually peg their buyback prices to the market bid spot prices and the current physical demand supply equilibrium also. As the premium portion is a “subjective” one, there is no guarantee that you will be able to obtain a higher sellback price for your silver coins compared to bars at any point of time.

 

Think of an HDB flat in Singapore, its actual value could be worth $800,000 dollars and it is a prime location, but its actual selling price could be much lower than its “value”. The same could also happen for your “rare beautiful designed” coin. It could be a full collection of all the surviving coins in the world, but if no one is willing/able to bid a high enough price for it, you will have to choose to either accept the lowered price or hold onto it some more.

 

Hence, if you are looking to solely buy silver coins, you might look at having some silver bars as well for liquidity purposes.

 

Side note, if any dealer promises you a higher buyback price indefinitely, get that down in black and white writing because when market conditions take a turn, their policies might change too!

 

So, that’s it! A very quick look into the different reasons one might choose a coin over a bar. Bear in mind that much like other investments, technology in the precious metals industry is advancing and continues to alter the form of our precious metals investments. Even today, we have tools that allow customers to enhance their precious metals portfolio through various means, such as automated DCA strategies, fractionalized ownerships etc.

 

Click here to be informed if you like to be notified on any updates from us.

 

Jason

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Dear Valued Clients, visits to our retail store will be by appointment to better serve you amidst this pandemic.
Dear Valued Clients, please note that we will be closed on the following dates: 1 May 2021 (Sat) for Labour Day, 13 May 2021 (Thurs) for Hari Raya, 26 May 2021 (Wed) for Vesak Day
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