I’m sick of monopoly money, where can I can buy silver in Taipei for a fair price?
thanks.
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Send me a PM and I’ll send you an e-mail address of a guy who’s very into silver.
I also have enquired about such a commodity. There is no official silver market in Taiwan. You also nee to look into selling silver before you purchase it by the way. If you come across a reliable source then please share it with the rest of us.
I am looking into bullion vault in the meantime.
Good investment idea, silvers gone up up up, but a a wee rest recently
Try calling Warren. He has some (a lot!).
Buffett, that is.
Does anyone have new information on where to sell silver in Taipei?
The background: for many years, we have been giving silver coins in hong bao to our TW relatives.
Now that the price of silver is so high, we would suggest that they sell a bunch of them, except neither we nor they have any idea where they could be sold without getting ripped off.
What kind of coins are they? Are they well known coins such as Silver Eagles? If they are one possible option is Ebay. The advantage of this, if I understand Ebay correctly, is that you can offer them at a minimum bid that reflects what you feel the coins are worth. That way, you are selling to someone who is willing to take a bet that the silver price as further to run and may be willing to pay for your silver at market prices or a touch more. If you find any kind of dealer you will end up selling for less than the current market value of the silver.
The coins are mostly the Perth Mint Silver Lunar series (see http://www.apmex.com/Category/213/2011__Prior_Australian_Silver_Lunar_Series_2.aspx) with each year’s Chinese horoscope animal. So they are well recognized.
But I was thinking of a dealer or jewelry store, of the sort that buy gold by weight. eBay also takes about a 10% cut, and shipping from Taiwan might be a pain.
Instead of buying coins… why don’t you just open a commodities trading account and buy futures. That would probably be more cost effective and safer, although, the minimum investment to open an account might be higher.
We bought the coins long ago and gave them to our Taipei relatives in hong bao.
The question now is whether there is someplace they can easily sell them in Taiwan.
They don’t speak English and don’t use eBay.
Are you still selling them? I’ll buy them from you at spot price. I live in Taipei, Daan area. Please send me a pm. I’ve been trying to find a place in Taiwan to buy silver.
Huh, guess he doesn’t want to sell. It’s hilarious, dumb money thinks gold and consequently silver is overpriced. Man, everyone besides the rentier class will be in a world of hurt.
So uh has anyone figured out where to buy silver yet?
I am keen to buy some physical silver myself, either coins or bars.
Someone posted a link to the Bank of Taiwan but that was for gold. And it doesn’t look like they are selling physical gold, it seems like some sort of gold account where you can buy and sell without holding the physical.
I am looking as well. Will let you know if I find a place.
Someone recommended this place to me:
If you use them, let us know how it worked out.
Interesting, someone also gave me that same website… Was it an English teacher by any chance?
If I have time this week, I will go check them out.
Right now I’m trying to decide on which product to buy. I don’t know much about silver yet, I’m just starting out and have been doing a lot of reading online.
The American Silver Eagles(ASE) and the Canadian Maple Leafs(CML) are obviously the most popular and most well known. As a result, they have the highest premiums to spot. And of course since we are in Taiwan, there is an extra mark up. Based on my calculations of the listed prices, they are about $37.79us or $8us over spot for the 1oz coins. This compares with $34.23 listed on Kitco’s website. But I think these coins will have the smallest spreads compared to the lesser known brands.
The Scottsdale bars are also legit. But not too sure about their liquidity. You’ll probably get raped when you try to sell em. Same story with the Morgan bars.
The Engelhards AND JMs are probably the most well known and they are so damn sexy! Too bad they are all sold out.
The safest bet would probably be to just get the ASE or CML.
There is another online site with a similar name and logo - are they the same? http://www.booksilvertrade.com.tw. There is also another one, but slightly cheaper: http://www.shiny.com.tw/. I would be glad if anyone can post some experiences they had with these online brokers. I am particularly interested in their policy of buying back the silver, in case i want to sell it.
Bank of Taiwan, or Taiwan Bank has silver coins on the website, so I think you may be able to pick some up there too.
[quote=“Tony the Tiger”]So uh has anyone figured out where to buy silver yet?
I am keen to buy some physical silver myself, either coins or bars.
Someone posted a link to the Bank of Taiwan but that was for gold. And it doesn’t look like they are selling physical gold, it seems like some sort of gold account where you can buy and sell without holding the physical.[/quote]
They do sell physical gold and silver coins.
I bought a few Eagle 1oz coins, while gold was below US$300. 
Here is the page for daily quote.
For silver coins, they do not buy back. So, you’ll have to sell it somewhere else. Never the less, their quotes serve as a good reference when dealing with others.
Here is the place that was on TV a few days ago. Shiny