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Dear Subscriber
The Silver Fix is now on a fully electronic auction system and there is a good summary of the effects, or the lack thereof, at Bloomberg: Silver Price Going Electronic in Quest for Transparency. Coincidentally the article also features a nice close-up of some of our Johnson Matthey bars prior to S.T.A.R.@ TSH parcelization at The Safe House (TSH).
This newsletter however is primarily about the upcoming launch of the Vault Safe Deposit Boxes at TSH. The key feature of these Safe Deposit Boxes is that only the customer has access - through keys and one-time seals - to the box's content thereby ensuring a high level of privacy.
The downside of such boxes is a sacrifice on flexibility, as customers have to physically visit TSH to deposit or withdraw box contents. The boxes, which are rented directly from TSH, thereby complement Silver Bullion's S.T.A.R. @TSH Storage system and can offer an excellent long term private storage option.
In this newsletter:
- Find out more about the upcoming Vault Safe Deposit Boxes.
More details to follow by the middle of September.
- A great time to buy Silver Maple Leaf Coins .
Get these coins for as little as 1.95 USD above spot until September 30th.
- Perth Mint Silver Year of the Goat 2015 Coins and 10 oz RCM Release.
The 1 oz Lunar 2015 Coins will be limited to 1 to 5 coins per customer.
- Take advantage of a free conversion option to tax free IPM bullion
Storage customers who have non-IPM bullion parcels can convert them to the newly released 10 oz Royal Canadian Mint (RCM) Bars.
- The 0.5% Storage Delivery Charge has been removed
Replaced by a much lower 25 SGD per parcel charge.
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| The Safe House - Phase II - Preview of Safe Deposit Boxes: |
Phase I the establishment of The Safe House as a bullion depository and testing lab to support S.T.A.R. @TSH Storage. was completed last March. The facility has been a great success with over 1.7 million oz of silver and 31,000 oz of gold , representing about 8% storage capacity, processed since then and an average storage growth of about SGD 5 million worth of precious metals per month.
Phase II will go beyond parcel segregated storage and allow customers to rent their own private vault boxes directly from TSH. Once rented boxes are accessible only and exclusively to the customer making this storage option legally akin to a very secure and insured U-Store rental while offering the highest level of privacy.
 A closeup of a third generation Class I box in one of the customer access rooms at TSH. A class I box can hold 12 to 13 Silver Maple Leaf Monster Boxes making them ideal for bulk silver storage.
Upon deposit each box is locked through a customer key as well as sealed by a uniquely identifiable one-time metal seal. The seal number is recorded upon deposit and later cut and replaced upon customer withdrawal thereby ensuring box access integrity.
After clearance through TSH security, customer access verification and box key verification the boxes are then released to the customer in private rooms within TSH and the box seal, which guarantees box access integrity, is cut.
There are two type of boxes:
The Class I Silver Safe Deposit Boxes are meant to keep silver and bulk items, can hold a massive 202 kg of weight (6500 oz) and are stored within our 8,000 square foot silver vault along with S.T.A.R. silver pallet cages for optimal weight distribution. These boxes can only be moved by a heavy duty stacker machine. Each box comes inclusive of a 50,000 USD Liability protection which can be increased up to 500,000 USD per box.
 The first batch of 120 Class I boxes at TSH. Each box can hold 202 kg of weight and, upon withrawal, are transported via heavy duty stacker to one of two private customer rooms for access to the customer.
The Class II Gold Safe Deposit Boxes are stored within our Class II Gold Vault along with S.T.A.R. gold and platinum parcels. Due to our insurance contract all gold and platinum must be stored within the one foot (30 cm) thick composite steel walls of the Class II Vault thus the "Class II" box designation. Each Class II box can hold around 16 kg of weight (around 500 troy oz), can be carried by hand, and comes with a 100,000 USD liability protection that can be increased to 1 Million USD per box.
Like S.T.A.R. Storage, the boxes' liability protection is excellent and protects not only against the usual fire and forceful entry cases but also against employee infidelity (inside jobs) and mysterious disappearance thereby providing peace of mind well beyond the industry norm.
Although these boxes offer unprecedented privacy and security they are, by definition, not accessible to neither Silver Bullion nor TSH personnel. Customers or their authorized representative are therefore required to be physically present to open a box in case of a withdrawal or buyback. This makes the boxes best suited for long term storage as they are not as flexible and convenient as S.T.A.R. Storage Parcels which can be sold remotely.
The Upcoming Launch: TSH will accept a restricted number of safe deposit box applications from September 16th onwards as part of the pre-launch testing period. This pre-launch period allows us to collect customer feedback and make minor process adjustments based on this feedback. A full launch is then expected by early to middle of October.
If you are interested to reserve a box early or participate in the pre-launch and feedback phase please contact TSH through the contact form at www.thesafehouse.sg. We will send you more detailed information on September 16th.
by Gregor Gregersen
and The Safe House / Silver Bullion Team |
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| Free conversion of GST taxable bullion to IPM Bullion and Delivery Charge Reduction |
Conversion of 10 oz A-Mark bars to 10 oz Royal Canadian Mint (RCM) Bars at TSH
With the release of the brand new product 10 oz 99.99% Silver Royal Canadian Mint bars we are offering our storage customers a free conversion of stored A-Mark bars (which are taxable upon entry into Singapore - see IPM rules - ) to 10 oz RCM bars (which, being tax free are also much more liquid). Eligible customers have been contacted and we are currently processing the conversions for customers who choose to take advantage of this offer.
The conversion also enables the consolidation of the remaining (small) amount of holdings left within the FreePort storage facility to be transferred to TSH. We expect this process to be completed by the middle of September. Please contact [email protected] for any queries in this regard.
Removal of the 0.5% Parcel Delivery Charge
The 0.5% pickup / local delivery charge by value of S.T.A.R. Storage @TSH Parcels has been removed and replaced with a flat 25 SGD per parcel charge. This is a considerable charge reduction for the vast majority of parcels as the older percentage fee contained import permit, tax payment and transfer processes required for non-IPM bullion that are no longer necessary for IPM Bullion stored at TSH. |
| Featured Products: |
Silver Maple Leaf Coins as low as 1.95 USD over spot until September 30th
 We sold over 780,000 of these coins making them the most popular silver coin in Singapore and with our Cumulative Discount Tiers you get permanent tier discounts regardless of purchase quantity.
Incoming Perth Mint Year of the Goat 2015 Coins
Perth Mint 1 oz Lunar Coin Collectors will be looking forward to the 2015 year of the goat coin release this September. These coins often sell for more than twice their metal value in the secondary market.
As we did in prior years we will be selling our coin allocation at the much lower standard bullion premiums but limit the number of coins sold per customer to prevent a single customer to buy our whole Perth Mint allotment of these coins.
If you are interested to purchase these your allotment will be based on your account's Cumulative Discount Tier so that a discount tier 4 customer, for example, will be allotted 4 coins. This is on a local, first come, first serve basis while supplies last. Other Perth Mint 2015 coins are not limited and can be ordered as normal.
10 oz Royal Canadian Mint Bars
After many delays these individually serialized bars have now arrived and have good availability. The bars also feature serrated edges and are individually heat sealed in Thermotron.
These bars are one of the few 10 oz bars produced by an LBMA member making them tax free in Singapore and, when purchased in bulk, these bars come in black mint boxes similar to the yellow Maple Leaf Coin boxes. |
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See more products and prices at www.silverbullion.com.sg
and our, fully owned, storage facility at www.thesafehouse.sg.
Best Regards
The Silver Bullion Team
Silver Bullion Pte Ltd
Registration Nr: 200907537M
Floor #03-02A Certis CISCO Center II
20 Jalan Afifi, Singapore 409179
Singapore
Phone: (65) 6100-3040
Fax: (65) 6826-4022
Email: [email protected]
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Information provided here should not be considered as advice or as an offer or enticement to buy, sell or trade. The contents of this publication, including any opinions and analysis, are strictly intended for educational use. Opinions expressed in bylined articles are those of the individual author and do not necessarily reflect the views of Silver Bullion Pte Ltd.
Silver Bullion Pte Ltd. makes no warranties, whether expressed or implied, as to the accuracy of the information provided or for eventual results obtained by using the information. In no case shall Silver Bullion Pte Ltd. be liable for direct, indirect, or incidental damages resulting from the use of the information.
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Silver Maple Leafs - about 20,000 of the 2014 coins are in-stock and another 10,000 are incoming, pre-order delivery times are also good.
Johnson Matthey 100 oz Poured Silver Bars - These are our most popular bars with about 800,000 oz sold. Availability is good with 36,000 oz of these bars in-stock and more incoming.
Gold - Good availability with over 1,000 oz in-stock. Pre-orders can be obtained within normal delivery timelines.