Silver Bullion Pte Ltd is always interested to buy investment grade (.999 or higher) silver or gold bullion. We buy the type of major brand bullion we stock in inventory regardless of provenance at very competitive rates and pay a substantial premium if the specific bullion was originally bought from us (the “From Client” price). Client Prices are always at spot and higher.
For bullion of the same type we sell, but not bought from us, we offer to purchase at "Non-client price" which can be below spot but is still much higher than most gold or silver "buyback programs".
Please note that we only buy back investment grade bullion items types we carry / have carried (for example we buy Perth Mint bars or American Silver Eagle coins). One of the reasons is that we have agreements with our suppliers / mints to support a liquid two way market so that we can absorb large (SGD in millions) buybacks if needed.
There are two ways for you to sell your precious metals to Silver Bullion.
1) For buybacks that occur in our office:
• If you have an invoice from us or we can retrieve your original order information we will buyback at the higher ‘Client Rate'.
• Buyback and price lock-in has to occur physically in our office / with our representative unless fully insured shipping can be arranged.
The step by step process:
1. Buyback occurs at our office in Certis Cisco (by appointment as confirmed via e-mail).
2. A photocopy of your identification card (IC) or passport and contact information is required. If available also bring the original invoice for the bullion.
3. Price lock in, whether Client or Non Client, will occur at the time you bring the bullion to the office.
4. If you agree to the sale we will issue you a company check denominated in SGD for the bullion.
Please read our policies and procedures, under the section for Buybacks.
2) For buybacks of stored bullion through our S.T.A.R. Bullion Storage program:
• The minimum bullion amount involved is strictly in parcel units, or all the bullion as originally purchased in one transaction (as reflected on the invoice) from the Company.
• As stored bullion was initially sold in fixed quantities and uniquely identified by a seal number, bullion must be sold in parcels.
The step by step process:
1. Log in and go to your storage interface.
2. Tick the checkbox beside the parcel you intend to sell.
3. After you have made sure of which parcels to request buyback for click on “Request Buyback”.
4. Review the details and specify whether you are requesting payment in SGD or USD.
5. If necessary, type in additional instructions in the Comments field.
6. Once you have reviewed all the details, proceed to click on “Submit Request”.
7. We will then review the request and if everything is satisfactory, we will send you the purchase order and notify you of how we will arrange to transfer the funds back your linked bank account.
What happens if many customers were to sell bullion at the same time? Can you fulfill the buyback requests?
Our company goal is to maximize .999 bullion silver holdings and a direct purchase from you is typically below volume acquisition prices. This makes a buyback attractive for us.
For more information, please read clause 9.5 under the Buyback option section.
Once a buyback request has been approved for bullion that I purchased through your S.T.A.R. Bullion Storage program, when and how will I receive payment?
For sellback from customers, the payment will normally be credited to your account within two business days.
For more information, please read clause 5.2 under the Payment Timeframe section.
Buying and selling spreads seem high for physical compared to paper silver. Why?
There is a saying in the precious metals industry: “If you cannot touch it you do not really own it”.
Paper silver is any derivative of physical silver bullion. In most cases these derivatives are secured through other derivatives which in turn are backed by only a tiny fraction in physical bullion reserves. Normally, there is no practical way to convert the paper silver to physical bullion. This means that you do not own the bullion, you only purchase price exposure.
The lack of physical backing means that it is possible to create nearly unlimited amounts of paper silver at virtually no cost. Furthermore, only a small fraction of deposited money is needed by the issuing institution to hedge their position through other financial instruments such as Comex futures contracts.
Hence these paper silver products can be very profitable for the issuer even with low buy / sell spreads as there is almost no cost involved in creating paper silver positions. As a consequence at the Comex futures exchange – which is often used to back silver derivatives and the guarantor of last resort – the ratio of physical silver reserves to paper positions is well below 10%. So there are at least 10 claims on the same silver and this ratio is likely to shrink further as more silver derivatives are opened.
Physical silver bullion means that you take possession of the actual metal and you own 100% of the bullion (measured in troy ounces).
Many of our customers purchase physical bullion as a long term means to profit from the ongoing decline of confidence in the US dollar, given the vast amounts of debt that was accumulated over the last 30 years and the more recent explosion of currency (base money, or euphemistically called "quantitative easing") across the world.
Given this context the demand for physical bullion comes from the simple fact that physical bullion, unlike bullion derivatives, cannot be created out of thin air. By owning the actual metal you can make sure that there are no multiple parties with claims on the same bullion and your position cannot be frozen or closed as it could with a financial derivative.
To actively trade on silver, a paper silver derivative that obtains price exposure will likely be a better choice as transaction costs are lower and there is no GST (tax) involved.
On the other hand, for a solid long term protection against currency crises, high inflation and a potential systemic financial collapse, the simplicity and 100% ownership of physical bullion are compelling arguments. Furthermore, unlike a paper bullion account, there is no requirement to fill out a W8 tax reporting form for US Citizens and US green card holders.
For parcels I took delivery of from S.T.A.R. Storage, I did not destroy the tamper and kept the parcels intact. Can I sell back the bullion to you without the need to authenticate the bullion and break the seal of the parcel?
We still have to break the seal of the parcel and authenticate the bullion, as per our policy.