Any other type of Silver Investment ?

[cath7888]

Hi Dennis,

For Silver Savings A/C, we need to go down to the Bank to buy and sell.

In Singapore, is there any other type of Silver Investment that we can

do trading on-line or by phone ? Where can we get it ? How much is

the admin charges or other fees?

Thank You Very Much !

Best Regards
Cath

[Dennis Ng]

Hi Dennis,

For Silver Savings A/C, we need to go down to the Bank to buy and sell.

In Singapore, is there any other type of Silver Investment that we can

do trading on-line or by phone ? Where can we get it ? How much is

the admin charges or other fees?

Thank You Very Much !

Best Regards
Cath

Hi Cath,
you can easily buy/sell iShares silver Trust, though it is listed in U.S. Any stock broking firm should be able to do such trading online.

Here's FAQ on iShares Silver Trust:
http://us.ishares.com/content/stream.js ... cation/pdf

Yes, going down to bank is troublesome, I find it troublesome as well.

Other ways of buying/selling silver involves much more costs.

[chanfke]

Hi Dennis,

I believe you had sold/bought silver thru UOB Silver Savings Account recently.

Are you able to share with all how does UOB fix its buying price and on what daily regularity, i.e. half-hourly? hourly? or ?

Also, since silver is very,very volatile of late, I believe one need to queue up to transact and by the time one wants to transact, the silver bank buying price may have drastically lowered further.
Hence, any good personal silver account transaction experience that you want to share with us?

Thank you in advance.

Eric Chan

[Dennis Ng]

Hi Dennis,

I believe you had sold/bought silver thru UOB Silver Savings Account recently.

Are you able to share with all how does UOB fix its buying price and on what daily regularity, i.e. half-hourly? hourly? or ?

Also, since silver is very,very volatile of late, I believe one need to queue up to transact and by the time one wants to transact, the silver bank buying price may have drastically lowered further.
Hence, any good personal silver account transaction experience that you want to share with us?

Thank you in advance.

Eric Chan

Hi Chanfke,

I'm not sure how frequently UOB update the price.

That day when I checked the internet the price was about S$48, but by the time I reached UOB (including waiting time about 30 minutes later), they told me price was S$47.43, which to me, was acceptable.

I wanted to sell Silver 2 days earlier (price was S$55 then), but I had NO time to go to UOB. (or sold s$7.57 lower).

Yesterday, I bought back the Silver I sold at S$42.87, and made the difference of S$4.56, (partially recouped my capital) and yet still hold the same amount of Silver, about 2,500 ounces.

[jazzmama]

Hi Chanfke

My experience with UOB is that the price is confirmed at the time of transaction. If you want to have an idea of what the price is likely to be, you can check it on the internet https://uniservices1.uobgroup.com/secur ... prices.jsp

Do take note that the buy sell spread is about 1.5%. I don't remember it being this high. Maybe UOB is protecting itself against the volatility in price.

[chanfke]

Hi dennis and Jazzmama,

Thanks for the sharing as I thought it was good to leverage on your silver transactional experiences to highlight any succulent points for those who had bought into silver thru the UOB Silver Savings Account.

Eric Chan

[yeesheng]

Hi All,

Is anyone know which bank sells silver coin?

Thanks.

[Dennis Ng]

Hi All,

Is anyone know which bank sells silver coin?

Thanks.

why bother to buy silver coins? For what purpose?

[redlipstick]

Base on last Friday's closing, if I buy 50 iShares Silver Trust from a online broker at USD35.81, I pay USD1790.50 + 5.00 commission = USD1795.50.

This is a one-off buying, isn't this cheaper than being charged by UOB for the spread and maintenance ?

[Dennis Ng]

Base on last Friday's closing, if I buy 50 iShares Silver Trust from a online broker at USD35.81, I pay USD1790.50 + 5.00 commission = USD1795.50.

This is a one-off buying, isn't this cheaper than being charged by UOB for the spread and maintenance ?

Hi redipstick,
I pay about 0.4% to 0.5% per year in annual fees for UOB Silver Savings account. Ishares Silver Trust' annual management fee is 0.5%.

You mean ishares Silver Trust does NOT have Bid Offer Spread?

Overview of iShares Silver Trust (ETF):

http://us.ishares.com/product_info/fund ... ew/SLV.htm


Link to check UOB Gold and Silver prices:
https://uniservices1.uobgroup.com/secur ... prices.jsp

[Dennis Ng]

Hi All,

Is anyone know which bank sells silver coin?

Thanks.

why buy? For what benefit?

[redlipstick]

Sorry, don't mean to mislead. I was comparing the spread between these two suppliers and I was trying to say that UOB's spread is much higher (at 20-30% right?)

Right now iShares price is USD 34.75 / 35.81. Spread is 1.06 or 0.3%. Please correct me if I am wrong again.

So comparing these two suppliers, is iShares better ? (in $$$ only)

[Dennis Ng]

Sorry, don't mean to mislead. I was comparing the spread between these two suppliers and I was trying to say that UOB's spread is much higher (at 20-30% right?)

Right now iShares price is USD 34.75 / 35.81. Spread is 1.06 or 0.3%. Please correct me if I am wrong again.

So comparing these two suppliers, is iShares better ? (in $$$ only)

UOB's silver savings account bid offer now S$45.12 and S$44.71, not sure how you get spread of 20% to 30%.

In my seminar, I say 2 simple ways to invest into Silver, one is iShares Silver Trust and another is UOB Silver Savings account. My gold is with Gold ETF (Streetracks), so I don't want to put all my eggs into 1 basket, streetracks, just a personal preference.

Choosing iShares Silver Trust is ok, so is UOB Silver Savings account.

The costs and spread of silver is not much different between the 2. In fact, iShares Silver Trust annual management fee is 0.5%, while I pay 0.375% for UOB Silver Savings Account.

[TuDi]

Hi all,

This is my first post in this forum. I just attended the 'Secrets to Making Money in Stocks' last week and am eager to start my journey to investing.

Currently I am looking at iShares Silver Trust Fund. I have checked with UOB and their fees are way too high as I wanted to start off with about USD1000 first. I can't seem to find any info on where to purchase this fund from the iShares website. I would appreciate if anyone can point me to the right broker to get this fund. Sorry for a noob question ...

TuDi

[alvin]

Hi TuDi, iShares Silver Trust Fund or SLV is listed on the exchange. So you have to buy/sell through a stock broker. You can buy it through your local stock broker provided you have set up a US account with them.