-
The above Banner is a Sponsored Banner. Upgrade to Premium Membership to remove this Banner & All Google Ads. For full list of Premium Member benefits Click HERE.
timsk
Content Type
Forums
Premium Membership
Dealer Directory
Wiki
Videos
Prize Draws
Posts posted by timsk
-
-
UBS raises silver prices forecast. Here's the new target
UBS has revised its silver price forecasts upward, citing strong industrial demand and potential supply constraints. They now project silver to reach $34 per ounce by September, $36 per ounce by the end of 2024, and maintain that level through March 2025. Additionally, they introduced a new target of $38 per ounce by June 2025. This outlook is supported by increased industrial demand, particularly from the photovoltaic sector, and anticipated supply challenges, including mine shutdowns in Peru. UBS predicts a significant under supply in the silver market for the year, contributing to further price appreciation.
-
". . . Unfortunately, due to a decline in interest and changing market conditions, the British Monarchs Collection is no longer commercially viable for us to continue. . ."
The line quoted above from the now infamous e-mail sent by The Royal Mint (RM) to some (but not all) of their 'loyal customers' - requires a little unpacking. IMO, it's not difficult to see why there's been a"decline in interest". . .
If, by "changing market conditions", they're referring to the recent upswing in PM prices - this happened after they decided to ditch the series. At the time the decision was made, PM prices were bobbing about in the same trading range (silver, at any rate) that they've been in since before the series commenced. Besides which, when don't market conditions change; they're constantly changing?! Even if they're referring to broader market conditions - i.e. the economy, inflation and cost of living etc., these too will change considerably over four years. So, this is nothing more than a very lame excuse, flannel, corporate rhetoric, BS - call it what you will.
The other key phrase they use is "no longer commercially viable". Let's take this at face value as, presumably, if the series was making money hand over fist - they'd continue with it. This begs the question: why isn't it commercially viable? I'm interested to hear members' views on this - here are my thoughts . . .
- As others have rightly commented, the release of the series was ill conceived. The coins should either have come out in chronological date order, or 'house' by house.
- They could have priced them more competitively. As BackyardBullion recently pointed out in a video on his YouTube channel, he bought a proof coin from the Perth Mint which was cheaper than RM - including P&P from Australia!
- Unlike getting products from the Perth Mint, it's pot luck whether RM customers receive a proof standard coin. As surely anyone who's been on this forum for more than a few weeks knows, Quality Control at RM is non existent. My returns rate of proof coins to them stands at 25%! The admin' costs, P&P costs and having to re-press coins must take a huge chunk out of their bottom line.
To conclude, the RM have completely lost their way and are no longer a world class mint that their customers can trust to deliver great quality products backed by excellent customer service - albeit at a hefty price. It seems to me that they just want this third leg of the stool (quality/service/price), without the willingness or ability to provide the first two. Sorry RM, but I'm afraid that ain't how it works. ☹️
-
@BackyardBullion
Excellent vid' - I hope it gets lots of traction and that all your YouTube subscribers and fellow stackers/collectors here on TSF follow your lead.
👍
-
22 minutes ago, Shinus73 said:
Response from RM to one complaint (not mine). I’ve cropped this, as it’s taken from elsewhere.
"sough-after". [sic]
Is that a typo' on your part Shinus73 - or is that how the text appears on correspondence from The Royal Mint? If the latter, then it says it all really!
Shocking, but not surprising.
-
- Popular Post
- Popular Post
1 hour ago, ccfcpaul said:Anything caused the sell off in the last few hours or just people taking profits?
After a large move, the market runs out of momentum and has to pause to catch its breath. This is completely normal - and desirable. If it just kept going higher day after day without a pause, there would be a parabolic curve which inevitably ends the same way as a firework or bullet: eventually they crash back down to earth.
So, currently, the market is in a consolidation phase, i.e. moving sideways in a channel, as can be seen in the 1 hour chart, below. If silver's being accumulated - then it will break higher in due course. If, as you postulate, the big players are selling to take profits, then price will soon fall and quite rapidly. Looks much more like accumulation and gearing up to move higher to me - but I could be wrong! Look out for price action at the upper and lower edges of the channel, which are currently acting as resistance and support respectively.
-
14 minutes ago, timsk said:
My total spend comes to £1,692.50 on eight 2 oz silver coins.
Had I bought plain vanilla bullion, instead of looking at a probable loss, I'd have that warm fuzzy glow inside that comes from having made a decent profit!
Dunno why I'm moaning: all spot price has to do is go to circa £100 and I'll break even. Any higher than that I'll be laughing all the way to the bank!
Shouldn't take long . . .
- ak74, GoldDiggerDave, Chrisplym and 3 others
-
6
-
Just now, westminstrel said:
I think 9?
These are the eight I have - am I missing one?
James I
Henry VII
George I
Edward VII
Henry VIII
Charles I
Charles II
George II
-
11 minutes ago, paulmerton said:
How many different coins actually came out in the end? I think I missed one of them but got it elsewhere.
Eight, Paul.
That is to say, eight different monarchs but, needless to say, any number of variations on size, gold and silver.
- paulmerton and kimchi
-
2
-
13 minutes ago, BackyardBullion said:
. . . My total spend on the series so far has been £3375 . ..
My total spend comes to £1,692.50 on eight 2 oz silver coins.
Had I bought plain vanilla bullion, instead of looking at a probable loss, I'd have that warm fuzzy glow inside that comes from having made a decent profit!
-
- Popular Post
I can't speak for anyone else obviously - but the reason I'm so outraged by this decision is that I accept the risk I'm taking when buying limited edition proof products at circa four times spot price - which the market may not value in future and decide they're only worth semi-numismatic bullion prices at best. On the flip side, if I'm lucky, the coin(s) will do well and the investment will be successful. That's the risk I'm happy to take. I was new to stacking/collecting when I joined the British Monarchs bandwagon and, whilst I was as aware then as I am now of the risks outlined above, it never occurred to me that it would be The Royal Mint themselves who'd pull the rug from under our feet and scupper my investment. I fear this series will lose money big time and the the bulk of the coins will end up on sites like Crawley Coins and Britannia Coin Co at discount prices. (No offense to either company - I've bought from both of them.)
I feel strongly that I/we invested in the RM by backing this series and the unwritten (sadly) deal is that they back us by sticking to their end of the bargain by producing the coins they said they would. We have a raw deal as it is in that we don't get to see any visuals in advance and invest in good faith, hoping and praying that the designs will be good and well received when they come out. Additionally, we take the risk of not being able to buy the products on the launch day because this too is kept from us until the last minute. (I had a day surgery appointment in Oct' 2022 at the exact time of the launch of one of the coins and, by the time my wife got home from dropping me off at hospital with instructions of what to buy, the coin I wanted had sold out.)
In short, the RM show little short of complete contempt for their customers and have completely lost my respect and confidence; I won't be buying anything more from them ever again - 'I'm out'.
Grrrrrrrrrrrrrrrrrrrrrrr! 😡
-
-
- Popular Post
- Popular Post
I posted a weekly chart similar to the one below earlier in the thread and suggested that if a strong move to the upside is to get underway that we first needed a break of the August 2020 high and for price to close above the teale coloured line. Ideally, it would have closed above the 2020 high but hey - beggars can't be choosers! Those first two conditions have been met. So, so far so good.
What's happening now is a pullback and is to be expected and, for those who are dismayed to see silver's price falling once again - I say don't be alarmed, keep the faith! If the breakout is to hold and price really is about to move substantially higher, the teale coloured line which previously acted as resistance (stopping price from moving higher because sellers stepped in), should now act as support (stopping price from falling lower because buyers will step in). This is the key price level, IMO. So, look out for what price does at - or around - £20.85.
For those who are rootin' for silver to 'go to da moon', what they don't want to see is for price to plunge through the key £20.85 level and to close below it. This would be a bearish sign. What they want to see is for price to 'bounce' off this level and close above it. If (big if!) this happens, then price should move up to test April's high at just shy of £24.00. A close above this price level would be extremely bullish. Until then, we might well see some messy sideways price action for the next week or two until either the bulls or the bears take control and push price decisively in one direction or the other.
Needless to say, this is just my personal analysis with lots of ifs 'n buts, others may have a very different view.
-
58 minutes ago, SilverDrum said:
. . . Anyone actually know how much a silver britannia sells for?
For a 25 coin tube, you can sell them to me for £590.00 to include RMSD. You can have the money in your account by the end of the day!
👍
-
48 minutes ago, theman73 said:
Iran is nobody, they can't resist more than a week against Israel, the conventional wars are in the past, and nobody can win against the West, WWIII will be nuclear.
I think you've made the exact same point as me, theman73. That's why the situation is so incredibly dangerous: if the U.S pitches in to support Israel and Russia pitches in to support Iran, WWIII is the next logical step. When the markets open tomorrow, we'll soon see whether or not they share this concern. If they do, the tiny silver lining on an otherwise very dark and ominous cloud is that precious metals prices will soar.
-
45 minutes ago, theman73 said:
Who against who?
Iran Vs Israel.
If Israel responds to last night's attacks by Iran, it's easy to see how the conflict could escalate and other countries get sucked in. Biden has pledged U.S. support for Israel and, doubtless, we in the U.K. will do something similar. If Iran starts to struggle against the combined might of its foes, Russia will - likely as not - come to the aid of its beleaguered ally. Under those circumstances, WWIII is not only a distinct possibility, it's a probability. What's desperately needed is someone with the leadership, gravitas, moral backbone and authority to step in and get everyone to see sense. Sadly, there's no world leader who fits the bill.
- Earthmetal, neilthenurse, Paw and 1 other
-
3
-
1
-
14 minutes ago, Petra said:
Buy in the dip😮🤔early delivery 😁
Hi Petra,
Out of interest, when one buys a 1/40 oz coin from the Royal Mint - does it come supplied with a free loupe so you can see it?
😉
- Aldebaran, Gruff, neilthenurse and 6 others
-
9
-
Without wishing to teach granny to suck eggs or to take coals to Newcastle, it's worth reminding ourselves, I think, of the key drivers of price rises in precious metals. The most important of those that doesn't get mentioned too often is 'Risk On : Risk Off' (RORO). For my money, the rise in the price of gold is due in part to the increasing unstable global political situation, with the war against Russia that the west is clearly losing and a rapidly deteriorating situation in the middle east. When Ramadan ends this week and the Iranians exact revenge on Israel for their attack in Damascus - which they surely will - then Israel will escalate what is set to become a tit for tat exchange. This could easily - and quickly - get out of hand and WWIII could soon be upon us. Let us not forget that both Israel and Iran are nuclear powers. Sadly, we live in extraordinarily unstable and dangerous times.
To conclude, if the situation continues to go from very bad to even worse in the region, then I think its very likely that gold will continue its rise and drag silver up with it. As much as I would like to see the price of the reflective metal go 'to da moon', I'd far rather see a sudden and uncontrolled outbreak of peace and love - even if that results in the collapse of precious metals prices.
-
20 minutes ago, MBTPSilver said:
I have £21.66 as the high for that period. Certainly nothing consistently above £22 like today.
I'm confused MBTPS!
Market prices will vary a little according to the data provider - but that's over a £1.00 difference - which is insane! Out of interest, where are you getting your prices from? I'm using a TradingView chart and Oanda for the source data.
-
-
From HMGS's vid' above, the speaker signs off with: "Try to do something good in the world".
I'll drink to that - if only all political leaders around the globe would do the same! A start would be if they committed to: "Try not to do something bad in the world". Pigs can fly.
-
1 hour ago, James32 said:
Nobody and I mean Nobody on TSF knows what the price will do moving forward. Anything is literally possible.
Very true James.
However, what we do know is what price has done in the past and, as I highlighted recently on the Silver Monitoring thread, silver has been around the £21.00 level no less than six times in the last three years. So, the balance of probability dictates that it will do something similar on the seventh occasion - i.e. now - as it's done on previous occasions - especially if there's a pullback in gold's price which is virtually guaranteed! 😉
1 hour ago, James32 said:This is an amazing deal for what's included. We can only go buy the 'now' price and currently this is a great buy.
Well I'm glad you agree that my offer to stackerp5 is "an amazing deal"! 😆
-
2 minutes ago, stackerp5 said:
Silver spot up. Prices the same!
It's dropping off a bit today, stackerp5! 😉
It's been dragged higher - kicking and screaming - by gold's massive surge throughout March, which now appears to be running out of steam. If (not when) there's a decent correction in gold, the price of silver is likely to waterfall back down from whence it came. This is probably the reason why the good folk here on TSF aren't biting your arm off at the ankle! All of which brings me to the point of my post which is to say that my earlier offer to buy the tube of 20 ASE's for £475.00 to include RMSD - is still open.
-
- Popular Post
- Popular Post
2 hours ago, timsk said:I'd like to post to say that today I've received a 2024 Vincent Van Gogh Icon Tokelau 1oz Silver Prooflike Coin and a 2023 Royal Celebration Royal Mint 1oz Silver Bullion Bar from Martin at Silvertrader. . .
. . . I can - as the parcel's turned up. Hurrah!
The ICON coin is an absolute pig to photograph as one has to get the angle and light spot on in order to see either the text or the image. If there was a TV competition for photographers along the lines of MasterChef - then photographing this coin would really separate those who can talk the talk from those who can walk the walk. Definitely one to test the skills of someone like Charliemouse! Anyway, here are my feeble attempts - along with the KCIII bar . . .
-
I'd like to post to say that today I've received a 2024 Vincent Van Gogh Icon Tokelau 1oz Silver Prooflike Coin and a 2023 Royal Celebration Royal Mint 1oz Silver Bullion Bar from Martin at Silvertrader - but I can't. Good ol' Royal Mail has delivered the parcel - just not to me. The out-of-focus 'proof of delivery' picture is just a close up shot of the package with no surrounding context - so it could literally be anywhere. I've lodged a complaint with Royal Mail - but will have to wait 10 days to two weeks before I find out what has happened to the parcel. Fingers crossed it's on a neighbour's doorstep and they hand deliver the parcel to me in the meantime. Grrrrrr!
British Monarchs Series - They Couldn’t, Could They?
in General Precious Metals
Posted
Good luck with the auction BYB - hope you get more than you paid for them!
What's your reason for hangin' on to Henry VII - just because you like it more than the others - or think it's the cream of the crop that might do well over time?