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Everything posted by Spark268
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well i never ! and at £25 an ounce too😵
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are they selling silver at costco now? what was the price?
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My calculation assumes a constant gold to silver ratio which we know now is at historical lows, but both are monetary metals which aim to hold value. You can deflate with the inflation rate, but thats known to be flawed in itself, and perhaps more so !
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i am open to being corrected on my calculation, but you've not shown why, and have not shown your calculation. Britain was under a gold standard back then, where 1 pound equalled 20 schillings which equalled 1 gold sovereign. 120 sovereigns would be worth 52.8K today.
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why not? I thought sovereigns amounted to £1 back then?
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by my calculations £120 back then would be 120 sovereigns which would be worth £51,600 now, giving the silver price of £73 per ounce. I dont know if its £120 worth of silver, or that for the silver, and the cost to build the model aswell. A conservative assumption that half was labour, would give an estimate of £36.50 per ounce.
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Has the secondary silver market hit the market saturation point.
Spark268 replied to Fenlander1's topic in Silver
ahh the bain of textual conversation, and mis understandings thereof. I have taken some flak earlier on in this thread and that made me overly defensive. I'm sorry for this and thank you for perservering You are right in that the price needs to compensate buyers for the hit that they take on VAT, otherwise they lose money. Recently, since 2020 atleast, there has been a difference between the quoted silver price (currently at £19.91) and the sales price on here £22-23, or on other secondary venues, known as a premium. Dealers have this premium plus VAT on top, meaning that places like BBP are charging up to £29. I think this premium is more as a result of supply and demand, rather than a compensation for any VAT paid. If supply continues to outstrip demand, then that premium could disappear also. -
Has the secondary silver market hit the market saturation point.
Spark268 replied to Fenlander1's topic in Silver
I did miss that and i apologise. You started that post critisising mine and lost me there. I'm going to move on, if you don't mind. -
Has the secondary silver market hit the market saturation point.
Spark268 replied to Fenlander1's topic in Silver
if you wanted to ask for a clarification, you should have just asked for one. Things like please and thank you are optional, but go a long way, both in the the UK and Australia. You did not do any of this. Given all my posts confuse you, i am flogging a dead horse anyway. -
Has the secondary silver market hit the market saturation point.
Spark268 replied to Fenlander1's topic in Silver
thanks, i hear that quite often 😁 -
Has the secondary silver market hit the market saturation point.
Spark268 replied to Fenlander1's topic in Silver
I wrote my original post quoting yours, using language a 12 year would understand. if this confuses you, i can only apologise. -
Has the secondary silver market hit the market saturation point.
Spark268 replied to Fenlander1's topic in Silver
there is no law, natural or otherwise that says you should do this. The only way this is possible is that the market premiums have been sufficient larger than 20% for some time, but this is not guarunteed. you only get back spot when selling to the dealers. The VAT sucks, but the expectation is that over time, any price rises should cover this. -
Has the secondary silver market hit the market saturation point.
Spark268 replied to Fenlander1's topic in Silver
I have got a cracking solution to this wonderful thread. how about two trading sub forums? Like the graded versus ungraded we have now. Free Market Trades Trades more or less as it is now. Prices rise and fall based on free market supply and demand. Price-Controlled Forum This is where prices are limited to spot + 40 %, it is acheived to limiting quantities to 10 oz per month maximum, with one exception for the chap who wants to offload the monster box. The ability to trade is based on your nationality, ethnic origin and where you went on holiday in the rolling 12 month period, based on the stereotypes associated with that specific region. These stereotypes will be determined based on an annual forum poll. there - everyone should be happy ! -
Has the secondary silver market hit the market saturation point.
Spark268 replied to Fenlander1's topic in Silver
VAT Fraud is illegal, and must not be condoned, as with all illegal activity. That aside, the market for silver is quite poor at the momemnt and clearly this is impacting emotions. In recent years the large premiums far exceeded 20% on the secondary market. Now that it is not, and in some cases turning to a discount to spot, doesn't mean that we should go round making false allegations and insinuations. As far as I understand it, people are still able to sell way above spot on here - even though there are many anecdotes about people selling even slabbed eagles below spot. It might be that the prices on the forum have to fall further, not necessirly due to the actions of one or two sellers, but because of the reaities of the market in the real world. And I'm still struggling to understand what mass migration has to do with any of this. -
Has the secondary silver market hit the market saturation point.
Spark268 replied to Fenlander1's topic in Silver
a "reasonable" debate where somehow mass migration from the indian subcontient has been implicated. -
Has the secondary silver market hit the market saturation point.
Spark268 replied to Fenlander1's topic in Silver
mate - you accuse me of confusing VAT, migrants and immigrants etc however 1) this thread (as i understand it) is about the silver secondary market 2) you seem to mix up the definitions between migrants, westerners, indians etc (what on earth has that got to do with this thread?) 3) vat registered business must include 20% vat on silver, however, if you are not vat registered, then, "you cannot apply charge VAT to your invoices even if the product or service is VAT rated. If you do, you will incur a penalty charge from HMRC." 4) the idiocy of the OP of complaining about volumes at low prices when talking about the issues of selling a monster box in one go. -
Has the secondary silver market hit the market saturation point.
Spark268 replied to Fenlander1's topic in Silver
i am - how the hell is immigration, or mass migration as you want to call it even tangentially involved with the OP? 🤪 -
Has the secondary silver market hit the market saturation point.
Spark268 replied to Fenlander1's topic in Silver
so if some one sells silver at spot -5% + 20 % vat = spot +15% then its VAT fraud and of questionable origin - as per fenlander and honestmoneys arguements ... but someone selling gold at spot - 5% + 0 % vat = spot - 5% , is all okay, dealers do it and krugs are common? It doesn't matter if the latter is covered in blood. I'm still boggled that someone attempting to sell a monster box of silver in one go is complaining about volumes! -
Has the secondary silver market hit the market saturation point.
Spark268 replied to Fenlander1's topic in Silver
there's no need to get personal and as for the rest of your post - good one - why dont you carry on? -
Has the secondary silver market hit the market saturation point.
Spark268 replied to Fenlander1's topic in Silver
this topic is nonsense - the guy wanting to sell a monster box of silver is complaining about volume?? -
Has the secondary silver market hit the market saturation point.
Spark268 replied to Fenlander1's topic in Silver
a market is a market imho - if there is a large amount of supply then that is going to push prices down. on tsf - gold krugs and sovereigns have been available for spot or below - do you also view these as questionable origin? What nonsense - someone has even managed to bring immigration into the fray. This just sounds like sour grapes to me. -
closed Wanted surplus laptop( No LONGER REQUIRED)
Spark268 replied to Spyder's topic in All non PM items for sale (All countries)
great, i am glad that you were able to recover the files -
closed Wanted surplus laptop( No LONGER REQUIRED)
Spark268 replied to Spyder's topic in All non PM items for sale (All countries)
all the best - i doubt that most IT proffesionals would do anything more than that ! -
closed Wanted surplus laptop( No LONGER REQUIRED)
Spark268 replied to Spyder's topic in All non PM items for sale (All countries)
its windows 11 sadly so might not be suitable for your needs. I'm assuming that your hardrive is 2.5" (as opposed to SSD for newer models) If you do have access to another computer, regardless of whether its windows 7, 10 or 11, the caddy option might be worth your while. They all use the same file system (NTFS) so should recognise the files if the hard drive is not too far gone. They are not expensive: £6 from amazon (https://www.amazon.co.uk/Combrite-Enclosure-Ultraspeed-External-Tool-Free/dp/B08Q8G1C77) . There is software that can help recover files from corrupted hard drives, but I've not done this in a while. I don't know if these are of any help, but some pointers.... * There's windows 7 available from here: https://archive.org/details/en_windows_7_ultimate_with_sp1_x64_dvd_u_677332_202006 * you should be able to put this onto a USB via a method like https://www.isotousb.com/ * to install it, you might need a fresh hard drive, but you can get one for £13 from amazon https://www.amazon.co.uk/2-5-sata-hard-drive/s?k=2.5+sata+hard+drive -
closed Wanted surplus laptop( No LONGER REQUIRED)
Spark268 replied to Spyder's topic in All non PM items for sale (All countries)
i am sorry to hear about your tech issues. i have a working dell 5400 that I could spare - but getting a new laptop might be overkill if you just want to access the files. can't you just get an external hardrive caddy for your existing hard drive, connect it via USB to any computer and access files that way? For windows 7 - i beleive that you can access user files via the takeown command