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Abyss

Silver Premium Member
  • Posts

    1,433
  • Joined

  • Last visited

  • Days Won

    19
  • Country

    United Kingdom
  • Trading Feedback

    100%

Abyss last won the day on October 19 2021

Abyss had the most liked content!

About Abyss

Profile Information

  • Gender
    Male
  • Location
    Manchester, UK
  • Stacker/Collector
    Both

My Precious Metals

  • What I am collecting / Investing in
    Silver and Gold.

Recent Profile Visitors

5,753 profile views

Abyss's Achievements

  1. Abyss

    Gold Bars Seized

    A picture says a thousands words..........
  2. Abyss

    Group Buying

    To save on Gold purchases what I have found the "best way" find the cheapest price in Europe for example 1 oz Gold Britannia for 2.8% over spot from https://www.coininvest.com/en/gold-coins/britannia/1-oz-britannia-gold-coin-2022/?change=1&curRate=pound_rate Call round all the highly trusted UK bullion dealers (post Brexit not bought any PMs from abroad) check if they will price match or if you are able to buy at 3% above spot. Most will not wiggle for a single coin but if you are buying 5+ at a time or a full tube they will negotiate to win the business. May not have to buy 100 coins to get the best price maybe group order for full tube could do it. You still have logistics and trust element mentioned by BYB to contend with.
  3. One of the reasons why I decided to diversify my investments into physical Gold was because my family already had Indian Gold jewellery and we were already paying for a safety deposit box. Owning gold jewellery is probably one of the worst forms of investments not only because of the significantly higher premiums but if you wanted to liquidate you will only get back scrap metal value. Look at GBP per Oz Baird paying for scrap metal gold price depending on the carat . Screwed at both ends when buying Jewellery in the form of Gold (buying and selling). https://www.bairdmint.com/live-metals-pricing
  4. $2.8 MILLLION in American Silver Eagles Seized https://www.youtube.com/watch?v=9gg6PYGki3g
  5. Take photos of the coin while using digital scale and calliper. If you have built up a seller profile on eBay / Facebook groups / on the forum use these platforms (each one has it pros and cons) in the past I have used all three to sell large quantities of my metals. Don’t have enough feedback on large ticket items on these platforms list it on the forum. May have ship coin before payment to long established members. Alternatively as mentioned use Sell back to bullion dealer only going to get spot or 1 or 2 percent under spot and you have to pay for postage. It is always best to sell privately and obtain the best possible price.
  6. I try to time my purchases on the dip sometimes I get fortunate sometimes I don't. But I know Gold is a long term bull market over the next 20 years. Looking back I bought 1 oz Gold in 2018 for £1000. All because price now almost £1400 does not imply I stop. Wait for a pullback in price, wait for confirmation (often several times) then I pull the trigger rinse and repeat continuing to buy on the pullback at higher prices. Gets very complicated when looking at price of Gold in £ and then $ on a chart. Even though I am in the UK I only look at the price in $ when buying on pullbacks. Try not look at the Gold stack in terms of how much worth in £ or $ or other fiat currencies measure your wealth in oz's Gold. Done this with property I own, my salary you will start seeing from a different perspective.
  7. Went to cineworld yesterday and they accepted £50 note after some debate. One down three to go.
  8. I am unsure about the legality of doing this but I am certain employers that abuse there positions. I recently visited a solicitor for legal advice and wanted to pay for the service with £50 notes and the receptionist refused to accept. I quoted these are newly minted £50 note by the bank of England and it is legal tender but she still refused to accept. Left no other option but to pay via debit card. I now have in my possession four £50 given to me and my family and tried twice to spend them to no avail. Looks like no other option than to visit the bank.
  9. Abyss

    Time to sell?

    Everyone circumstances different but I hold a core holding in Gold coins in a popular series I can never see myself selling and hoping it will be past onto my son as part of his inheritance. Other parts Gold stack if the Gold prices broke the all time high in a relatively short time frame I would sell with the intention buying back when the price consolidates or retraces. For years I have looked at the gold price on charts and have tried to predict price movements and made purchase decisions but have only been right less than 35% of the time. Predictions deflation and a crash in everything including Gold going back to $1,000. If this ever happened I would not be upset my existing stack going down in value instead looking to sell some other assets and buy significantly more Gold. What have to reminder Gold and Silver it cannot go down to zero. Even the price of oil went into the negative something before it happened was unimaginable. Like dicker stated don’t put all your eggs in one basket.
  10. No excuse cashier simply told me she will not accept it. Reading between the lines assume owner of the establishment put in a rule any of staff accept forged notes then the staff will need to compensate owner via wages. Cashier simply did not want to take on the risk.
  11. Forget the coins the shop/post office near today refused to accept a brand new £50 note...... In the end had to pay for my items with card payment.
  12. The offshore mutual funds diversification from all western assets. Don’t have an ISA but have a company pension plan.
  13. The bullion was not delivered but ordered for collection. The rare occasion I do visit Chards in Blackpool I always bring back something sweet......
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