A friend was interested to buy some silver coins but was concerned about how he could sell them in Singapore. It was a very good question and I had difficulty answering. I struggled to suggest buyers for physical silver. We have plenty of companies wanting to sell silver to us. But who would buy them back?

Lack of Buyers

Physical silver is not traded over the exchange unlike other paper assets such as stocks (except futures markets but most brokers settle in cash and no delivery of physical items). This makes selling silver difficult and not transparent. A seller will have to look for buyers on his own and I would not be surprised if the offer price can vary significantly.

Also, do not expect to sell physical silver to the local banks because none of them will take it. Even UOB does not sell silver coins. UOB only offers ...