Buying gold & silver?

[Chrisc]

I have just shy of 200oz of silver and 5 oz of gold. Wish I had bought more!

Always the case mate.

im only around 50oz silvers and gold we're talking Grams and not oz

 

[Lord-Jaffa]

Gold coins have several advantages over silver for UK people. Unless you're stacking for fun it's better to go for gold.

Mix of both, most of my silver was bought VAT free though

 

[aardvark]

Yeah VAT kills silver.
Not as many places to sell compared to gold either.

 

[Lord-Jaffa]

Yeah VAT kills silver.
Not as many places to sell compared to gold either.

Silver Forums, 1oz is selling for £58+postage for the most part now.

 

[Lord-Jaffa]

Always the case mate.

im only around 50oz silvers and gold we're talking Grams and not oz

Some is better than none!

 

[2013]

Does anyone invest in gold and silver?
If so, is it possible in lowish amounts? Sub £500 per purchase?

I should have picked some up when this thread started, would have been a better investment then trusting the gov.

 

[Chrisc]

Some is better than none!

That is true.

i did win a 1g Gold bar off 'Whatnot' a few months back for about £19. That was a good result.

 

[aardvark]

Silver Forums, 1oz is selling for £58+postage for the most part now.

interesting - i have enough though

 

[l0z]

I piled into SILG (London tracker for SIL North American silver mining index) in my S&S ISA a few months ago. If the thesis, that the miners will lag but repeat with extra torque the move made by the metal, is correct then the next 3 months could be very profitable.

I will report back!

 

[Lord-Jaffa]

interesting - i have enough though

Never enough! I actually collect the different coin types, years etc so for me the value is secondary (and a bonus!)

 

[l0z]

Silver went up 10.5% in a single day yesterday. Something big is stirring.

 

[radderfire]

Silver went up 10.5% in a single day yesterday. Something big is stirring.

There's now a price discrepancy between the Shanghai market and London Comex. It's a sign that people are standing for delivery on Comex, and there is a shortage of physical metal. This has been brewing for a long time and it seems to finally be happening.

 

[arknor]

Silver went up 10.5% in a single day yesterday. Something big is stirring.

its used in memory and memory prices are going insane. maybe metals will be dragged with it.

 

[radderfire]

China has restricted silver export as there is now a looming industrial shortage.

 

[casper_uk]

So Silver is up, but where would people even try and cash out? Do you really risk selling to someone online and hoping they don't scam you? Seems like it's asking for trouble in this day and age.

 

[radderfire]

So Silver is up, but where would people even try and cash out? Do you really risk selling to someone online and hoping they don't scam you? Seems like it's asking for trouble in this day and age.

If you hold physical metal, you need to find a reputable shop trader with a premises, that will deal in bars and coins.

Otherwise, you can find a reputable online service to trade physical silver but they store the metal for you (and charge you for this).

 

[radderfire]

What's happening in the silver market:

 

[Tom_ed1987]

So Silver is up, but where would people even try and cash out? Do you really risk selling to someone online and hoping they don't scam you? Seems like it's asking for trouble in this day and age.

You can sell to companies like atkinsonsbullion or similar, all done via post. I have done so before with old 18ct gold jewelry and it was painless (approx £4k worth, had to post with 2x RM special delivery to keep insured) , I'm sure they will be happy to buy silver britannias etc for a good price. Not sure if they do scrap silver.

 

[radderfire]

As I have been saying for a long time, the silver price has been artificially suppressed by the COMEX, and this is starting to come under a lot of pressure because both sovereign nations (for reserves and sound money) and industry (building reserves for manufacturing) are buying silver, and a physical shortage is developing. The price has doubled this year and is likely to keep rising.

 

[casper_uk]

Interesting information, was just out of interest really so thanks. They don't half make a healthy profit on it though (over 50%). A 1oz Silver Maple for example goes for £59.04 when they take it off your hands, but it's £90.96 to buy from them!