A keen interest in Lunar coins cast in silver has led a couple of friends into a new business venture that looks to be earning a nice chunk of change.

Mr Armen Rizal Rahman dipped his toes in the precious metals game in 2012 when he invested in silver and gold.

He has also bought commemorative Lunar coins, such as a one-ounce silver one from the Year of the Snake, which cost $50, and a half-ounce silver coin from the upcoming Year of the Horse series.

"The one-ounce Year of the Snake silver is limited edition, only a few thousand were minted. As and when such coins become more rare, when you want to sell it, its price increases," he says.

Mr Armen buys only from overseas producers such as the Royal Canadian Mint, which he says offers attractive designs for its Lunar coins.

The keen investor in silver and gold bars was discussing falling silver prices with pal Ridjal Noor last December and they hit on a business idea.

Mr Ridjal mentioned selling silver or gold to investors and the pair decided to suss out the interest on Facebook.

If enough people seemed interested in investing in silver coins, they would make a bulk purchase.

"We only aimed to sell 300 silver coins in 24 hours, and by the end of it, we sold more than 500," says Mr Armen.

They collected 16kg of coins from their supplier for delivery, which made up about $16,000 in sales.

Soon after that burst of interest from people new to investing in silver, the pair decided to set up Silver Coins Singapore, which now also helps people get started on gold.

Mr Armen says: "The business caters to people who are just starting in investing in silver or gold. We provide the knowledge of how to invest properly and the coins for them to start them off with."

Silver Coins Singapore operates online through its Facebook page.

Mr Ridjal says it was set up "with the intention of making investing in silver or gold super simple".

Silver is a good starting point as it costs only $30 per ounce, says Mr Ridjal, who has taken a backseat in running Silver Coins Singapore to concentrate on his business, Pullupstand.com, which specialises in promotional banners and displays.

Mr Armen, who has a diploma in mass communications, is now taking courses in jewellery design and gemology.

He is also considering becoming a collector of Lunar and other collectible coins, believing that the investment value can be high in the long run.

"But you need to know what is considered a good collectible coin to have," notes Mr Armen.

"Certain people may not see it that way, but it's not as simple as just buying a collectible. You have to consider the mintage and minter, the coin's condition and certain storage rules.

"It's a whole new area of knowledge, so especially for people looking into investing in such coins, they need to understand and learn more."