Many people like to buy silver and gold bullion bars and coins as an investment for the future, where can they buy physical silver and gold in the world?
Where to buy gold and silver?
Do you know you can buy gold and silver bars coins in Singapore because it is the cheapest in the world?
Singapore happens to be the cheapest and best place in the world to buy gold and silver. We all know that gold is a solid investment, and ethnic Chinese and ethnic Indians love physical gold as an investment for old age or to pass to their children. Silver, as an useful industrial precious metal, is also very popular to buy and hold.
Why is it cheapest to buy gold and silver in Singapore and where?
Singapore, with high GST (Goods and Service Taxes aka VAT) has NO tax on pure bullion gold and pure bullion silver. You are able to buy gold at 0% tax. Many countries in the world impose GST, luxury tax or various way of taxation on gold and silver, and only Singapore and Hong Kong has no tax on gold and silver.
No TAX on gold or silver bullion bar and coins in Singapore
We have visitors from all over the world, including Japan, Indonesia, Philippines, India, Sri Lanka etc who fly in to buy top grade silver bars and coins as well as gold coins and bars because of the 0% tax on pure precious metal.
Where to buy gold and silver in Singapore?
1) Jewellery shops
Many jewellery shops that sell gold and silver jewellery at a high premium (craftsmanship and branding for jewelries are expensive) have also pure gold and silver bars in their shop.
Convenient. They are everywhere in shopping malls.
Trustworthy as most jewellery are big corporations
Costly Premium – They have a high premium on gold and silver bar even when there is no craftsmanship involved.
Many pawnshops do list gold and silver bars and coins from people who have pawned and sold their precious metals.
Convenient. You can find pawnshops in major shopping malls or town centers.
Premium is lesser than jewellery shops.
There is still quite some premium attached as the pawnshops need to earn profitably.
Stigma of “old gold” as the gold or silver is sold by someone who needs money.
3) Bullion shops that specialise in gold, silver bullion bars and coins.
We have seen the rise of bullion shops that specialise in selling beautiful coins collection, silver and gold bullion bars and coins. They do not charge a premium as they are non-jewellery shop and does not focus on the branding and craftsmanship.
The lowest premium you can find on gold and silver
Not as convenient as there are only 4-5 bullion shops in Singapore. You need to google search for their shops.
Gold Silver City is an ecommerce shop for gold and silver operating in Singapore for more than 10 years. We do insure courier delivery for numismatic coins, and for large value of bullion silver and gold – we are able to visit you at your selected location and deliver personally.
Gold Silver City has been operating in Singapore since 2013 and has been moving down the supply chain from wholesaler to retail sales, while keeping margins low for all valued clients.