How silver is priced in Malaysia
In Malaysia silver (perak) is usually quoted per gram for jewellery and scrap, and per bar for investment silver, with 100 g and 1 kg bars of 999 fineness the most common sizes. The figures on this page are the international silver spot price converted into ringgit at the live exchange rate. They show the value of the metal before dealer premiums, making charges and any tax, so a shop or online dealer will sell above these numbers and buy back below them.
Sales tax on silver after the 2025 SST expansion
Malaysia widened its Sales and Service Tax from 1 July 2025, with a general sales tax rate of 10% and a 5% rate for listed goods. Most silver is still outside the tax. The Sales Tax (Goods Exempted from Sales Tax) Order 2025 exempts whole tariff headings for silver in unwrought or semi-manufactured form (heading 71.06, which covers bars and grain), articles of jewellery of precious metal (71.13), other articles of precious metal (71.15) and coins (71.18). Silversmiths' wares, such as solid silver tableware and cutlery (heading 71.14), are not on the exempt list. The Sales Tax (Rate of Sales Tax) Order 2025 puts them in the 5% schedule.
How Malaysian dealers price silver
Silver has no official local fixing like Bank Negara's gold reference, and there is no exchange-traded silver price in ringgit. Dealers take the international spot price in US dollars, convert it to ringgit, then add their own spread. Bullion sellers such as Public Gold list 999 silver bars with a separate premium on top of the bar price, and that premium can differ between Peninsular and East Malaysia. Jewellers price silver jewellery by weight plus a workmanship charge (upah), which often makes up a large share of the price on light pieces. When you compare offers, compare the total price per gram of fine silver, and ask what the dealer's buy-back price is on the same day.
Purity marks: 999 and 925
Investment bars sold in Malaysia are usually 999 fine and marked "999" or "Ag 999". Minted coins such as the Canadian Maple Leaf are often 9999. Silver jewellery is mostly sterling silver, stamped "925", which means 92.5% silver alloyed with copper or other metals. Some fashion pieces are only silver-plated. These carry a plating mark or no fineness stamp at all, and they have little melt value. The fineness changes what a piece is worth in metal, so use the purity selector in the calculator above: a 100 g sterling bracelet contains 92.5 g of pure silver, not 100 g.
Buying silver in Malaysia
Most Malaysians buy silver in one of three ways. Many buy small 999 bars from local bullion companies, often through agents or dealer networks. Others buy imported bullion coins from online dealers, and a third group buys 925 jewellery from goldsmith and fashion jewellery shops. Silver needs much more storage space than gold for the same value, and its buy/sell spread is usually wider, so it suits patient, long-term buyers. Before buying, check whether the price shown already includes the dealer premium and delivery. Ask for a receipt that states weight and fineness, because you will need it when you sell back.
Tax and duty information last reviewed October 2026. Rules change — confirm with your dealer or tax authority before a large purchase.