Bigmarc

17 minutes ago, LemmyMcGregor said:

eBay, time, patience anc max bid.

1. Look for anything that you like
2. calculate spot
3. include postage in your calculation
4. make a max bid.

If you win you've got silver at spot, if you lose all it has really cost you is the minute to open the auction, do minimal math and drop a max bid.

I would probably start easy with coins, it's easy enough to give a value to each and do a quick count on the fly, take your time with flatware to get to learn markings.

I only do this a day in advance, too worried spot will fall.

Tried to find out what zero hedge was, why is there a naked man on its avatar? Afraid to look any further. 

12 minutes ago, HonestMoneyGoldSilver said:

You need to check and do your own homework as others have said, but yes, AFAIK you could split your silver between your travel companions. If you're travelling with 2 adults and 2 children then your total allowance is 4*£390. The 'personal allowance' I believe applies to individuals regardless of age

I will have a look into it a bit further. I was more worried about the receipts tying up with the purchase because if I send my mate down the shop on three separate occasions over a period of 6 months and I have receipts with gaps in them, would flags be raised. Essentially I could just leave it there as long as I like but if there is an allowance it's a shame not to use it. 

As for the missus and kids, their allowance will most definitely be used for useless c**p.

33 minutes ago, Gordy said:

You have an individual personal VAT allowance on silver if you or members of your party are physically bringing it into the uk, currently stands at around £390.00 per person if I remember, so you can bring in this amount of silver without having to pay VAT on it, if you have it shipped into the UK you will pay VAT

anything over that amount needs to be declared so for example is you bring in £500.00 quid worth of silver bullion you will pay VAT on the figure over your allowances

Cheers, that is a game changer for sure. I wonder if my two 4 year olds have that allowance. 

37 minutes ago, JohnA1 said:

ETF 'approvals' mean that the centralised finance vermin (that crypto-dudez are supposedly against

If you count up everything you need to buy and use crypto then you may find it's probably more centralised than fiat. 

You need a device, an exchange, a ledger or wallet, fiat in the first place, 2fa. If any of these were to fail then your f*CK*d. 

I am in crypto but just a bit of fun and it's beating my metal holding this year (not allway been the case tho). 

22 minutes ago, SovereignBull said:

Bitcoin went from 34k to 38k on the ETF approval news but I think the realisation that it will take many months has dawned on people. Gold took a dip on this news but seeing as the UK & US decided to chuck some missiles at Yemen its bounced very quickly

Ah, didn't see that, I didn't think bitcoin could take funds from gold. If this is the case it could be volatile over the next year or so. 

12 minutes ago, SovereignBull said:

Is that it? One crappy dip brought on by an announcement that ETFs were approved for a magic internet money token that’s getting so regulated & easily controlled that it will end up like Fiat? Hmpf 🤣

Not sure it was that, bitcoin hasn't really moved. 

Looks like I will be travelling to Canada a couple of times a year for the foreseeable future and was thinking I may buy regularly and leaving it there. 

But

If there becomes a point I would like to bring it home with me would I pay taxes on what I paid for it or at its current value? If it's what I paid for it, how far back can the receipts go? 

Just pondering the idea at the moment. 

1 hour ago, SovereignBull said:

I understand that in the UK we have to pay the dreaded VAT on our Silver but why are our prices so far off those of America. I see video after video stating that they can buy Silver at very close to spot price with a $1 premium or less!
 

Why are online prices in the UK so far away from this? If we say add a pound and then add the 20% VAT we should be paying less than £23 a coin yet online for a Britannia we’re at £27 a coin (Figure based on an order of 10 to cover post)

Is it simply a case that there is more demand in the UK or are there other factors I’m not considering?

Most things over there are cheaper than ours. Electricity, fuel, phone bills, food, insulin (ok not that one). 

Yes we pay over the odds for everything here but shouldn't matter unless you decide to move. 

There was a petition for parliament a while back to allow users to delete the BBC channels to avoid the fee. 

https://petition.parliament.uk/archived/petitions/264983

1 hour ago, Bigmarc said:

eBay. These items sold yesterday (I've lost my spreads sheet so can't work out the spot at the moment) but sure they are fairly close. 

 

Worked it out, spot price for the pre 20s is £60.48. (+4.2%)

For the pre 47's is £23.76. (-7%)

The pre 20s do look a little worn tho. 

21 minutes ago, artalien said:

think you're right. So Ebay is definitely an option

Pretty much majority of what I have yes. Auctions and eBay. Search for the coin rather than what it's made from. 

I have never had problem sell anything apart from bars. 

eBay. These items sold yesterday (I've lost my spreads sheet so can't work out the spot at the moment) but sure they are fairly close. 

3 hours ago, Gruff said:

but then you could always get a subscription

Na, not for me, too many doom scrollers for my liking. Quite happy lurking around the metals section. 

1 hour ago, Kitalon said:

I've been thinking long and hard about which bullion is best to invest in for the long-term (say for the next 10-20, possibly 30 years). It's really tempting looking at these nice and large shiny 1oz 24 carat gold coins like Britannias, Queen's/Tudor Beasts (maybe not the Kruggerands), etc and it makes sense in many ways because the premium is so low, but I do wonder if I'd be making a rod for my back when it comes to cashing in said investments when I'm old and grey. 1oz coins are currently in the region of £1640+ and set only to increase if the current trend in gold continues. When/if they reach the £2000+ mark will it still be so tempting to buy them and will they lose the liquidity they currently have if you want to shift a few at once. Yes you may still be able to take a hit and sell to dealers but losing a good percentage of potential returns on an investment doesn't seem to make a lot of sense.

It does look like full sovereigns and 1/4oz gold coins have the current 'sweet spot' but I wonder if coins like double sovereigns and 1/2oz Britannias are new new 1oz coins (sic) and would be a better investment in terms of realising your assets a couple of decades down the road. 🤔

Can I ask why? As in why gold for 30 years? 

Not a trick question many collect for different reasons. Just curious because if it's retirement then there maybe faster horses. 

1 hour ago, Gruff said:

Please respond to this discussion on  the thread below. Otherwise we risk being put on a step for derailing this thread

But that means the discussion about the fair distribution of wealth is only available for those paying. 

Play the reff to his whistle that's what I say. 

On 05/01/2024 at 21:31, Gollop said:

I just don't really get the fact that they are legal tender.

Was legal tender. One pound in weight of silver was equal to one sovereign and was like it for hundreds of years. This is where the term £sterling comes from.

Is swapping gold for silver a taxable event?

34 minutes ago, BackyardBullion said:

f you are deemed to be a business trading for profit then CGT exemption does not apply. You pay taxes on profits regardless of the CGT status of the coins

Everyone who buys a coin is hoping to make a profit. The threshold for eBay, Etsy and vinted is 30 items a year or £1000 before it's reported to HMRC. 

https://www.channel4.com/news/factcheck/factcheck-do-you-have-to-pay-tax-for-selling-secondhand-on-vinted-or-ebay 

18 hours ago, Kitalon said:

I want to be more like Harry carefully choose my moments and end up half a million richer than Amanda

I had some time at work today and thought I would do some research. This may help you visualise it a little better. 

I went back 50 months on the for sale section of the forum. I picked a random bullion sovereign in the middle of each month (one carded and one blister as slim pickings some months). I also filtered it to individual sellers. Also I added 50 special delivery postage cost. Here is the list. 

So over 50 months a total of £17938 would have been spent, this is a cost average of £358.76 per sovereign and would have 50 sovereigns

If you belly flopped in 50 months a go you would have 67 sovereigns for the same cost. 

The beginning of 2021 and 2022 with the same value you would have 54 sovereigns.

And 2024 you would only have 46 sovereigns with the same value spent. 

Considering you can't beat the pound cost average price in the last two years I must admit it does look a better option for the long term. Me personally I am not a cost averager as I like to do many things elsewhere. 

3 minutes ago, LemmyMcGregor said:

I don't see why buying the half, unless you want the odd one for collection

I tried looking for a couple a few years back and found them relatively hard to come by. Always out of stock so just went for best value instead

4 minutes ago, Kitalon said:

Thank you, I think I understand the cost averaging concept a lot better now. Listening to everyone here has definitely changed the way I'm thinking now. But it still doesn't make me want to buy without delay, I want to be more like Harry carefully choose my moments and end up half a million richer than Amanda. 😜

Stick to your gut instinct it rarely lets you down. Besides how old is harry if he has been putting £500 a month for 50 years. 

1 hour ago, Gordy said:

Dont listen to the odd member hoping for a drop.

Equally don't listen to the endless moon posts.

5 hours ago, Cubic said:

Third, I've looked at Tavex to make.my purchase, again, is this the best place to go or can I get it cheaper elsewhere

Yes tavex is good, bought from them a few times. It's good to ask the question most newbies go to bbp.