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About Wileyfox

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  1. Yes, in light of the 20% VAT that dealers have to charge, the best place is here on the forum. You'll have to wait until they come up though or post a wanted ad. I have managed to pick them up for around spot +15~18%. If you do a search for platinum you'll be able to see previous listings. A paid membership would help you to see any deals as they are posted instead of having to wait 3 days.
  2. I'm not sure of the reasons for the mint's decision though 1983-99 does coincide with the 20 year bear market for gold, and so investor demand would have dropped off during this time, the chart is USD inflation adjusted and shown on the log scale.
  3. I'm guessing it is to do with volume. Dealers are likely turning over x100 more volume in gold bullion than in platinum. This leads them to price platinum as a low turnover/high margin product - a bit like with numismatics. VAT on top doesn't help either, though just means there's more scope for the peer-to-peer market to fill the gap.
  4. 😅 I've watched a few of his clips though not for a while!
  5. Hi Diamond, first off welcome to the forum I hope you enjoy the community here. I've been using BullionVault since 2008 as I sought a safe place to put my savings following the last finanical crisis. I've always found BV a good company to deal with: you can see the bar lists, choose the juristiction in which your metal is stored, and even own a whole bar outright if you have the funds. A key advantage is that you can buy/sell on the exchange 24/7 with a fairly small spread i.e. it is a very liquid investment - I basically use it as a savings account. The pros for me of storage with BullionVault (or similar) is the liquidity this offers and that it's safe enough for 'most' situations. However, it is not a substitute for physical metal under your control and I agree that if you don't hold it you don't control it. Consider the following example - there's a currency crisis and the government of the day (in the interests of national security) enforces capital controls, bail-ins and passes a 'compulsory purchase of monetary metals act'. This enables the treasury to purchase all the gold and silver from UK nationals and compensates them at the market rate. The custodian of your metal would have no choice but to comply with the new law and facilitate the exchange. You'd then have a number on a screen and the government would have the gold. If you are looking to use PMs as an investment that you will want to exchange for something else in the near future then BullionVault will likely meet your needs. If you are preparing for a full blown currency crisis and banking collapse then there's no substitute for having some physical gold and silver under your direct control.. plus it's quite fun to look at and hold!
  6. Ah lovely, thanks, from looking at a few more pictures I can now see an upside down triangle followed by four letters followed by the year. The letters and the position of the mark seem to change each year too. It will be interesting to see what your team manage to find out.
  7. That's ok, from what I've learnt (by looking through images) these 'features' only appeared on the Silver Krugerrands from 2018 onwards (the bullion versions only). I think they appear on the gold versions (bullion) from 2017 onwards. Thanks @LawrenceChard for the photos. Any idea what the purpose of the smaller mark might be? Maybe some sort of die number?
  8. Hi all, I saw a video on the silver Krugerrand and there was a guy explaining a security feature that the newer Krugerrands have.. the word 'Krugerrand' in microtext behind the springbok's hind foot in the mountains, I go to check this on my silver Krugerrand and sure enough I can just about make out that the text is there. In the comments he then alludes to a second security feature with even smaller text but he doesn't go any further.. I can see that it is near the plant under the springbok's front leg but I can't quite make out what it says. If anyone has any information about these security features, particularly the second smaller one then I would be very intersted to hear more. I've tried to find more information online but haven't had much luck, which I find strange for such a popular coin. I did a search for some HD images and have found two that illustrate at least where to look 2018 Silver Version from @ChardsCoinandBullionDealer 2017 Gold Version from @coininvest via Wikipedia From the gold version the text is below the plant heads and I can see it's something like SAR81, maybe for South African Republic and a year?
  9. Welcome to the forum Patrick! Patrick and I know each other in real life and I'm happy to vouch that he is a sound guy to deal with
  10. Yes a wealth of information there for me to digest. Yes I think trust is a key issue, that's why I'd wait until I have more trading history and experience of doing bigger amounts - hopefully enjoying the process as I go. I'd need to see pictures of the coins before agreeing to purchase, if the coins are imperfect then I'd would look to adjust the price or refuse the trade. If I invest in coins then the source of the cash will essentially come from selling a portion of my vaulted platinum BV position so if the platinum price drops then I'd be sitting on a paper loss though no worse than where I would have been without buying the coins. If no one want to buy the coins I had in my inventory then I'd just have to enjoy looking at them I'd only be looking to purchase Britannias though so good for the UK market and these only started to be produced in 2018 so its quite new as a coin series. I guess the experiences that you've posted shows the differences between what a professional dealer and a hobbyist provide to the pm ecosystem and the issues they have to consider. Always quoting a price on any coin in any quantity is something that only a handful of dealers can hope to achieve, I expect that managing cashflow and making payroll becomes particularly important then too. One of the other points that I was considering (especially before I bought my first platinum coins) is verifying that the coins are indeed genuine.. given platinum's density I've realised that if it looks good and passes the weight and measurement tests then it pretty much has to be platinum. I'd be interested to hear if anyone has ever heard/come across a convincing fake platinum coin? Yes exactly, lower spreads draw in investors, speculators and transaction revenue for the exchanges. I tried using some bots (free open-source software) to market make on a crypto platform, however to compete with professionals one has to essentially go for obsure alt-coins that have a higher spread and the profit in earning the spread is dwarfed by the effect of the price swings of the alt-coin. So I think the key to a market making as a hobby is to choose something that has a low liquidity/high spread but which one also doesn't mind holding as a long term position. I hope that stolen platinum doesn't make it into the Royal Mint supply chain.. Also nice to see your recent sales post and a strong bid at 15% for the platinum britannias
  11. Hi Lawrence, Oh no.. I wouldn't have the cash! I'm thinking this through for the odd coin here and there. I would do 2 oz at 12% and say 2oz at 11% etc then my offer to sell would come down so that my bid/ask spread remains at 10%. Other people here can then out bid me or improve the ask.. basically a peer to peer exchange.
  12. Hi all, I've been invested in platinum for bit over a year now. One of the problems with investing in platinum is the large spread between buying and selling. I expect this is because it's a fairly niche investment and the professional dealers have to charge 20% VAT at least in the U.K. However, there is no fundamental reason that the spread should be that large, we just need some more peer to peer market makers. At the moment I'm looking to get my trading rep to 10+ with some silver trades, once I'm there then I'll have a look into making a market for 1 oz platinum Britannias. For example, by offering to buy at spot +12%, and offering to sell at spot +22%. I have a 10 oz position with BullionVault (a vaulted service) and 6x1oz platinum Britannia coins which I bought on the forum for around spot+12%. I'd just be flipping between vaulted and coins so I wouldn't care what the actual spot price was. Ideally there would be a thread where anyone could beat the best bid and platinum Britannia holders could also improve the offer thus making a type of orderboard for 1oz platinum Britannias and reducing the spread. I'm still fairly new here so I'm wondering: Would something like this be useful? Has it been tried before for any other product? Can anyone see some pitfalls that would prevent it from working? I can spot a few issues that I'm mulling over, though I'm fairly confident that maintaining a spread of 10% should be possible.
  13. I like Platinum and have a position with Bullionvault. I have always found Bullionvault has worked well for me (though there is a third party risk, I'd be more concerned with it being an easy target for some new government regulation/capital controls). I guess the issue the OP has is the cost of transaction in switching between vaulted/fiat and physical coins especially with the VAT situation here. I had always avoided buying silver and platinum coins for this reason. It was only when I found this forum late last year that I realised that there was a good potenial to buy/sell peer to peer thus avoiding vat and transaction costs. I'd be quite interested in making a market for platinum coins, I'll write a separate post about this later today.
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