How silver is priced in Singapore
Singapore dealers price silver bullion in Singapore dollars per troy ounce and per kilo; jewellery is sold by the piece or per gram. The figures on this page are international spot silver converted at today's USD/SGD rate — the metal value before dealer premiums and, for non-investment silver, 9% GST.
GST: investment silver exempt since 2012
Since 1 October 2012, investment precious metals (IPM) have been exempt from GST, and imports of IPM are exempt from import GST. Silver qualifies at 99.9% purity or higher. Bars, ingots and wafers must come from a refiner on (or formerly on) the LBMA Good Delivery list or one endorsed by Enterprise Singapore, bear the refiner's hallmark, and not be decorative or collector's pieces. Coins must be or have been legal tender and appear on IRAS's prescribed list. Everything else — jewellery, scrap, medallions, proof and collector coins — carries 9% GST.
Which silver coins are GST-free
IRAS's list of prescribed silver coins covers the major bullion series: the American Eagle, Canadian Maple Leaf, Austrian Philharmonic, British Britannia, Chinese Panda and Mexican Libertad, the Perth Mint's Kookaburra, Koala, Lunar and Kangaroo, and — since 17 January 2019 — the South African Krugerrand. Newer additions include the Royal Mint's Myths and Legends and Royal Tudor Beasts series (from 23 June 2023). Only bullion versions qualify; proof, numismatic and collector versions of the same coins are taxable. The current list is in the twentieth edition of the IRAS guide, published in January 2026.
Buying and storing silver
Dealers set Singapore-dollar prices from international spot and the USD/SGD rate and add a premium, typically lowest per ounce on large bars. Banks offer paper exposure rather than metal: UOB's Silver Savings Account lets existing customers buy silver in ounces (minimum 10 oz) for an annual service charge of 0.375%, but holdings cannot be converted into physical silver. The GST exemption has helped Singapore develop a bullion storage industry, including large private vaults built to hold silver.
Tax and duty information last reviewed October 2026. Rules change — confirm with your dealer or tax authority before a large purchase.