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  #1  
Old 10-10-2008, 10:27 AM
wkchan wkchan is offline
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Default http://www.publicgold.com.my/

recently came across a website for a company in penang , Malaysia
http://www.publicgold.com.my/
they minting their own gold bar for sales.
Any comment
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  #2  
Old 10-10-2008, 10:43 AM
Gold_newbie Gold_newbie is offline
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Quote:
Originally Posted by wkchan View Post
recently came across a website for a company in penang , Malaysia
http://www.publicgold.com.my/
they minting their own gold bar for sales.
Any comment
don't trust any malaysian businesses when buying something like gold, you need it to be from a credible source.
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Old 10-10-2008, 12:01 PM
wkchan wkchan is offline
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Originally Posted by Gold_newbie View Post
don't trust any malaysian businesses when buying something like gold, you need it to be from a credible source.
As far as I know there are 3 private mint in Malaysia,
1. Publicgold in Penang
2. Poh Kong with Bunga Raya gold.
3. Kelantan Dinar

if one buy Maple etc, the coin specification is given, (thickness, diameter, weight.) So it may be difficult to counter-feit, the coin must have the correct weight and size.

but for the private mint above, I can;t find their spec.
Then, is there a way to find out its 999 gold and no alloy inside the gold.
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Old 10-10-2008, 01:07 PM
Gold_newbie Gold_newbie is offline
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Quote:
Originally Posted by wkchan View Post
but for the private mint above, I can;t find their spec.
Then, is there a way to find out its 999 gold and no alloy inside the gold.
precisely. therefore, you have the most important comment to your request for comments.. actually, if they say 9999gold, you believe or not? Zeti says inflation at 3% earlier this year, you believe or not?

Last edited by Gold_newbie; 10-10-2008 at 01:13 PM.
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  #5  
Old 10-10-2008, 01:16 PM
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amadan amadan is offline
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Quote:
Originally Posted by Gold_newbie View Post
don't trust any malaysian businesses when buying something like gold, you need it to be from a credible source.
As much as I hate to agree, I'd say you are about right. Many scams going on here with Gold. HOWEVER, I have bought and sold at Poh Kong before, both bullion and jewellery.. This was when they actually had Nuggets and Maples. Now they don't even have the Bunga Raya bars. Other than the steep discount at the sell price, no issues at all.

So, I'd say stick to companies you know, that are established, like the banks and major jewellers.
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Last edited by amadan; 10-10-2008 at 01:21 PM.
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Old 10-10-2008, 02:07 PM
Gold_newbie Gold_newbie is offline
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urm, i understand what you mean but i think differently.

your poh kong is only recognisable to aunties in Malaysia and if the shops / franchise bankrupt, who would you sell it to? another gold shop in malaysia? another auntie or uncle in malaysia?

ideally, you would want a bullion that you can transport to anywhere in the world and someone who knows what gold is, when looking at it, will say, this is genuine, this is the mkt value for it, i will buy it from you. Sovereigns, Maples and widely known bullion fit this category.
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Old 10-10-2008, 02:37 PM
wkchan wkchan is offline
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Well, it boils down to two issues
a) Authenticity. Don;t know whether its really 24K or not.
b) Reputation. Even it is really genuine, may be difficult to convince others to believe it. => gave raise to liquidity problem

For people who can't get hold of widely known bullion.Rural areas, least developed country. What is their options? Buy from goldsmiths who earn a living from them.


Quote:
Originally Posted by Gold_newbie View Post
urm, i understand what you mean but i think differently.

your poh kong is only recognisable to aunties in Malaysia and if the shops / franchise bankrupt, who would you sell it to? another gold shop in malaysia? another auntie or uncle in malaysia?

ideally, you would want a bullion that you can transport to anywhere in the world and someone who knows what gold is, when looking at it, will say, this is genuine, this is the mkt value for it, i will buy it from you. Sovereigns, Maples and widely known bullion fit this category.
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Old 10-10-2008, 02:45 PM
Gold_newbie Gold_newbie is offline
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Originally Posted by wkchan View Post
For people who can't get hold of widely known bullion.Rural areas, least developed country. What is their options? Buy from goldsmiths who earn a living from them.
eh, that's them lah.. as an investor, you want to buy something, better make sure your exit strategy is sound also lah..
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Old 10-10-2008, 04:18 PM
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amadan amadan is offline
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There's always ebay to give you higher premiums....

Although, I just sold an SML (KL only) for a final bid of RM55 on ebay. So, forget that unless I go international. I just wanted to test the market.

Will sit to my coins for now and let it appreciate the old fashion way.

Silver bullion market in Malaysia is totally dead. We're a country without a clue.
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  #10  
Old 10-10-2008, 08:03 PM
gfoo gfoo is offline
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Quote:
Originally Posted by amadan View Post
Silver bullion market in Malaysia is totally dead. We're a country without a clue.
There is someone staying within WP with thousands of oz of SAEs i believe

(come to think of it, i think i'll check if he wants to sell any back to me)

Last edited by gfoo; 10-10-2008 at 08:16 PM.
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