Spark268

haha It's a very difficult one to answer; I've personally never used H&B and so cannot testify as to the persistence of their post-sale marketing efforts. Being a millennial, I never answer the phone anyway.

I agree with your statement that dealers do offer a service. And under normal conditions paying below spot would be reasonable. However, these are not normal conditions, and you guys could do better (and perhaps end up with more stock!). Meanwhile, in Germany, you can now get 10% above spot for reselling your silver. Above is the best prices dealers are prepared to pay for kangaroos. €26.12 = £22.54 . The best price to buy is €27.55 On BPB (as an example), there must be hundreds of separate listings for sovereigns, with specific years marked up significantly, not because they are rare, just because they are specific years! Yet when you go to sell, you only get a miserable 300 for your sovereign regardless of its year/vintage etc. They are now paying a penny above spot for silver, which is something i guess 😛

it is a little on the shady side but i don't think they prey on the vulnerable. No one forces you to buy the sovereign at 319, and you would question why you are being offered another at 899. There's probably room for negotiation. the TV/newspapers are full of less honest ads from other companies. According to companies house, the H&B net profit margin is 10%. This is compared to BBP which if memory serves was around 8%. The product mix at H&B is of higher value on average, so it does not suggest they are fleecing any more people than BBP are for example. They don't offer to buy back proof sovs/numismatic coins at below spot which is equally more shady imho.

agreed with this sentiment. at least they compensate you for using your data and sending you ads!

i am sure the market will open up when the Queen starts handing out platinum jubilee medals next year

I dont think the dealers are to blame, it is almost impossible to get the retail product at the wholesale level, and things were tight before the squeeze started. the price of silver on this forum and on fleabay has been converging with that of the dealers so its the fair market price for retail silver. The crime that the dealers are still offering sub spot prices for buying your silver. The problem is that without retail investment demand, the silver market has a surplus, and the average investment demand reduces the surplus so that things even out. However, since last year, the investment demand, and the covid related closure of silver mines, means that the market is in a significant deficit. Going forward, the refineries have to decide whether to meet retail demand (coins, small bars) or to serve the industry. Typically, the industry does not hoard silver like individuals do, by operating just in time inventories, and given that the silver component of most finished goods is very small, industrial users will be able to pay more than we are for silver. This will cause silver to rise to $50 and beyond, in order to entice retail investors to sell their silver back. At the risk of sounding like a broken record, buy platinum !! there's no hype there, and the platinum to silver ratio remains at all time record lows. You do not often get trade set ups like this

there's a great tool for monitoring the progress of the silver (and gold squeeze) here https://exploringfinance.shinyapps.io/goldsilver/