ANNOUNCEMENT
In line with the announcement by the Inland Revenue Authority of Singapore, the GST will be increased from:
(i) 7% to 8% with effect from 1 January 2023; and
(ii) 8% to 9% with effect from 1 January 2024.
We welcome you to move your existing physical bullion (bars and coins) with us via our Asset Transfer Service (ATS).
It is mandatory that all circulated bullion is to be certified/assayed before it can be traded (sold) on the Exchange (Trading) Platform or collateralised via our Gold & Silver Collateralising Program.
These are the indicative pricing for verification to certify your asset.
Asset | Service | Ounce | Rates (USD) |
Silver | Verified | <1,000 | $0.90 - $1.10 per oz* |
Silver | Verified | 5,000 | $0.70 - $0.90 per oz* |
Silver | Verified | 10,000 | $0.50 - $0.70 per oz* |
Silver | Re-Fabrication | 10,000 | $1.00 - $1.30 per oz* |
Gold | Verified | 500 | 0.75% - 1.00%* |
Gold | Verified | 1,000 | 0.50% - 0.75%* |
Gold | Verified | 1,000+ | Contact Us |
*Subject to additional 9% GST
The fees stated above are also subject to:
1-Year Storage Fee: 0.50% of the Gold value / 0.70% of the Silver value (based on the current bullion prevailing price)
Permit Service Fee: USD 300.00 per shipment
The all-inclusive ATS Service covers the following: shipping/insurance, re-fabrication/asset verification, shipping/insurance to SGPMX, along with export permitting and documentation.
Customers can opt for a “Certified Asset Transfer” or a “Non-Certified Asset Transfer Service” to store their bullion with SGPMX.
Final costs of shipping/insurance and asset verification will be quoted individually when you send us details via our ATS contact form.
Note: The Annual Storage fee is renewable yearly.