For international shipping:
It is your responsibility to ensure that your bullion reaches our office/depository in Singapore.
If you are located outside of Singapore, this is not easy to organize as both international bullion shipment and import,
as well as insurance
need to be arranged separately, making it much more expensive and harder than intra-country shipments.
Shipment Options include:
Commercial Shippers: Companies such as UPS and FedEx will normally only insure shipments
up to a nominal amount (e.g. 500 USD) and external additional insurance is normally not available to private individuals.
We highly discourage you from shipping internationally without full insurance and correct customs declaration (using correct HS codes for IPM bullion)
as you would have no recourse if a shipments is lost, especially if the bullion cannot pass international customs due to incorrect
a paperwork and is sent back. Some shippers such as DHL will not ship bullion in the first place.
Precious Metal Shippers: ViaMat or Brink's can handle these shipment requirements safely but such shipping is expensive
and normally only makes sense if you are shipping substantial quantities (e.g. ten thousand ounces silver).
Furthermore the process can be complicated,
requiring separate shipments to a ViaMat/Brink's distribution center.
In Person Delivery: Shipping just 20 oz of gold via a dedicated fully insured shipper internationally can easily cost as much as 1,200 USD.
If you have the time and wish to transfer gold (as it is easily portable compared to silver) consider flying to Singapore
and delivering the bullion yourself. This option would allow you to see our operations and get a feel of Singapore first-hand.
If you are already in Singapore, this option is the obvious choice.
Regardless of your shipping preference, you need to understand which bullion is IPM (Tax Free)
in Singapore to avoid paying a 7% tax on import.
Note that we have close relationships with Singapore Customs and have helped to train customs officers
on implementing bullion taxability rules so our processes are fully compliant with Singapore Customs.
Please note that the reality of international bullion shipments, is that unless it involved substantial volumes of IPM bullion, it might be cheaper and more
effective to simply sell bullion in your home country and buy new bullion in Singapore.
For Bullion Already Stored in Singapore:
We can organize fully insured transport within Singapore for you.
Accepting and verifying bullion shipments as genuine, as opposed to storing them on a "said to contain basis",
is a unique process made possible by the combination of S.T.A.R. Storage and DUX Testing.
This process allows you to transfer bullion and, if requested, easily sell it to us.
To our knowledge no other company in the industry is offering such a service
because it exposes the receiving company (Silver Bullion) to a lot of potential liability risk that has to be
mitigated or eliminated through very careful process planning.
Here is an overview on what happens when a bullion shipment arrives to our depository:
24 CCTV cameras in our office / depository record how the package
is received and signed for by SB personnel and the package is transferred into the safe room under CCTV.
Silver Bullion staff unpack the bullion in the safe room test area - prominently displaying the package shipping ID or airway bill number - under high definition CCTV.
Contained Bullion is counted to match the packing list and bullion is
DUX Tested and TPL marked - under high definition CCTV. Please note that this involves opening coin containers (see unpacking notice).
DUX-Passed Bullion is then packed according to prescribed multiples into tamper-proof bags [having S.T.A.R. Parcel number], sealed, photographed - all done under high definition CCTV -
and kept in a safe for further transfer for long term storage in the vaults.
The S.T.A.R. Parcels have thus been created and will be entered into inventory being at our SB Depository where they are covered by SB insurance.
DUX-Failed Bullion is also packed into tamper proof bags [with unique parcel number] and sealed - under high definition CCTV.
Customer will then be notified about the failed DUX Test and we will provide the CCTV video recording of the process and test results for maximum transparency.
The tested bullion will be returned [pending available shipping solutions – to be paid by customer] to the customer.
Transfer to long term S.T.A.R. vault occurs at regular intervals whereby the bullion will enter vault operator inventory [with full liability coverage].
You will then be able to view Parcel Photos, Parcel Ownership List, Vault Operator Inventory Statements by parcel and DUX Test results by parcel online.
DUX results are uploaded automatically online and associated with the packed parcel so that
the owner of the bullion can check DUX results online.
More information on the unpacking process
DUX testing requires the opening and unsealing of eventual coin boxes, plastic sleeves or other such packaging
as detailed below:
- Bullion coin monster boxes, with exception of sealed Mexican Libertad silver bullion coins
which are originally packed with a secure seal,
have to be opened for DUX testing. We test a minimum of five tubes
which will each be sealed with an individual Tamper Proof Label [TPL]
and the box itself will be "re-sealed" with a Silver Bullion Pte Ltd
plastic strip similar to the ones used by most mints.
Opening the box is a necessary precaution as a standard "sealed" 500 coin monster
box only has a generic plastic strip that is not tamper proof nor tamper evident.
- Sealed bullion bars in plastic sleeves will be cut open and tested. If feasible the bar will
then be placed back into the packaging and the cut section of the packaging will be sealed with a TPL.
Otherwise the TPL will be placed directly on the bullion and the packaging discarded.
Note that all bullion items are further packed into the uniquely identified S.T.A.R. Storage Tamper Proof Bullion Bags.