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Gold Bullion Singapore
Gold bullion is a term used to describe gold that is in the form of bars, coins, or other metal objects. It is often used as a store of value or currency. Gold bullion is a valuable asset that can be bought and sold online. It is important to understand the different types of gold bullion available before you make a purchase.
A gold bullion purchase can provide you with a valuable asset that can be stored and traded for future use. There are many different types of gold bullion available, so it is important to understand the different characteristics before making a purchase. Some of the most common types of gold bullion include bars, coins, and rounds.
Bars are the most popular form of gold bullion because they are easily transportable and store a large amount of gold. Coins are also an option for investors because they have a more universal appeal than rounds. Rounds are less commonly seen as an investment choice, but they can be more valuable due to their rarity. Gold bullion is an important part of any investor’s portfolio because it provides stability and security in an uncertain financial market.
The History Of Gold Bullion In Singapore
Gold bullion has a long and rich history in Singapore. The first physical gold coins were issued in 1823 by the East India Company. These coins were made of copper and were not accepted as legal tender in Singapore, but they served as a form of currency.
Types Of Gold Bullion Available In Singapore
In Singapore, there are a variety of types of gold bullion available for purchase. These include both official and unofficial gold coins, bars, and rounds. Additionally, investors can purchase gold bullion through bullion dealers that have registered with the Ministry of Law and hold an approved license to carry on a business of regulated dealing in precious stones, precious metals, and/or precious products (“PSPM”), or as an intermediary for regulated dealing in PSPMs.
There are no official gold coins in Singapore that are produced by the government itself but there is The Singapore Mint. These coins come in denominations of 1 oz, 1/2 oz, 1/4 oz, and 1/10 oz. They are not legal tender in Singapore and cannot be used to buy goods and services from merchants plus you have to pay GST on most products produced by the Singapore Mint.
Unofficial gold coins in Singapore are produced by private mints or companies that are not affiliated with the government. These coins come in denominations of 1/20 oz, 1/10 oz, and 1/5 oz. They may not be legal tender in all countries, but if they are LBMA approved GST is not applied.
How To Buy Gold Bullion Online In Singapore?
Buying gold bullion online in Singapore can be an easy and convenient process. Numerous online gold dealers offer a variety of products, including coins, bars, and rounds. To buy gold bullion online in Singapore, consumers will need to identify their desired product type and choose a dealer.
Once the purchase is complete, buyers will receive an email confirmation of their purchase. In addition to gold bullion, many dealers also offer storage services for investors seeking long-term security.
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