Investing in Silver

Posted by Iain1981 (48 days ago)

Hi all

I'm interested in buying physical silver, and wondered if there was anyone who has experience of buying in hk... Other than the question of finding a reputable dealer, the fact that silver is such a bulky metal (in comparison to gold or platinum) means that storage is also an issue. Renting a safe deposit box seems like the best bet, but knowing the price of renting any space in hk, i'm wondering if the costs make it still worthwhile. Should i just stick to gold coins?

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Posted by ken (13 days ago)

We are also interested in investing in physical silver here in HK and would appreciate any recommendations with dealers here.

Posted by DaHKGKid (13 days ago)

If you are concerned about the collapse of fiat money then REAL Gold and Silver are an option. Silver however is denominated in lower values so easier to Trade for a loaf of bread. Silver may be the only physical you can take delivery of.

Posted by Iain1981 (12 days ago)

I thought this thread was dead... It took me a lot of phone calls to find, but eventually I got in contact with Lee Cheong Gold Dealers Ltd... they're one of the most well-known dealers in town and mint their own bars, three nines. You can walk in just like a bank. Kitco also have a Hong Kong office, but they charge a lot of extras for handing, shipping etc, as they import from the US, and you need to set up an account, wire money into it... much simpler and cheaper to use the local bullion dealers. Or should i say, dealer, as Lee Cheong was the only one out of the whole list I called who could provide it. Also, as for safe deposit boxes it was pretty straight forward to open one and inexpensive. Lots of banks have them, so if you have a bank account it's likely ur bank has branches with boxes.

Posted by DaHKGKid (11 days ago)

Iain1981 good post, good work. Being Silver, what are the denominations in both size weight and approx price.

Posted by Iain1981 (11 days ago)

I bought 500g bars, but they sell smaller bars (250g I think), bigger bars (15 kilos) and rounds too. the price is roughly the same as spot but works out to be about 2% over, once all the conversions have been made - international price is oz but in hk they sell by tael, but then the bars are in grams and the price is hk dollars... they also add a HK$180 per kilo labour charge to cover the cost of minting the bars. Despite this, it's a good deal - far better compared to Kitco, the only other option i'm aware of here.