Why do you buy silver?

[sixgun]

Just now, Roy said:

@sixgun

can we supply our own metal?

yes but i would suggest not. To get into the ABX it will be tested and melted down into their standard bars. They do intend to recruit other vaulting companies into the Kinesis system and i expect there will be some special arrangements and audit. For Joe Soap your gold and silver will be melted down after being tested. i think the best bet is to sell it and then use the cash. i certainly will not be letting go off my stack.

[Martlet]

50 minutes ago, Mark10110 said:

you understand how pensions work right now in the work place?

 

To be blunt, i dont believe you do.  £7?  More likely 7% and tax rebate on top.  Pension funds are put into fund aiming to beat inflation and on track record do a good job of it.  Not at all sure where you got your information from, some people have had problems, sometimes a fund goes pop, they unusual.  Vast majority of people will get a larger pot than they paid in.  Silver and Gold are a good hedge certainly more interesting than cash in the bank, lack tax efficiency of a pension. 

And on another point, pensions are investments with some rules and restrictions on access, in return for employer and state input. 

[Roy]

@sixgun Understood.

[Mark10110]

2 minutes ago, Martlet said:

To be blunt, i dont believe you do.  £7?  More likely 7% and tax rebate on top.  Pension funds are put into fund aiming to beat inflation and on track record do a good job of it.  Not at all sure where you got your information from, some people have had problems, sometimes a fund goes pop, they unusual.  Vast majority of people will get a larger pot than they paid in.  Silver and Gold are a good hedge certainly more interesting than cash in the bank, lack tax efficiency of a pension. 

https://www.ftadviser.com/pensions/2017/08/30/uk-inflation-rate-increase-is-bad-news-for-pensions/

[Roy]

1 hour ago, Roy said:

A hobby then? 

I seem to have influenced your poll 

[SilverSkoobz]

On 12/09/2018 at 16:47, Mark10110 said:

so you stack as an investment.

I suppose so!  😃

[999magnum]

I filled in for hedging, but I think it's becoming more and more a hobby. 

[Lowlow]

It's just money to me, so I don't know.

 

Wealth has to be stored.  You can buy real estate, own corporate stock, loan people money (bonds), loan banks money (CD's), money markets, collectibles, options, futures, paper money, etc ... but you have to store your wealth somewhere.  Most of those instruments carry risk, precious metals are one of the few things that are not someone else's liability.

 

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Added 0 minutes later...

Just now, Lowlow said:

Most of those instruments carry risk, precious metals are one of the few things that are not someone else's liability.

.. which means precious metals are one of the few investments without counter-party risk.

[Tingles]

On 13/09/2018 at 19:14, Mark10110 said:

Lets not forget some of these guys believe in a flat earth, logic does not need to apply.

Fair enough!  I enjoy 1960s British spy films hence my questions.  My wife says my logic is annoying.  I find her illogic more so!!!

[Silversaving]

Back when I first started, I was worried about the economy and wanted some tangible assets to hold onto. I'd agonize over what to buy and if I felt it would appreciate in the future. 

That was a while ago. Now? I just buy whatever I like. I could likely purchase a new home with just my metals stack these days but I know myself well enough to know that won't ever happen. I'll likely die some day (hopefully in the far distant future) with all of them still in my possession.  Then they will be the wife's problem to deal with.  It's firmly an enjoyable hobby these days. Yes, it's noce that in a pinch they could be sold to help with unexpected bills....but I certainly don't collect for that reason.  I simply enjoy the art that they are.

[LiquidMetalsUK]

Mainly a hobby for me. Love all the different designs and the historical stuff to. 

[STONE]

Silver and gold ARE money, paper fiat is debt based and is currently worthless. I pay myself in silver at the end of the week. I will continue to do so as long as they will take a worthless piece of paper in trade for real money! Fractional reserve lending is a scam, period. Be your own bank. Banks are middlemen who are in the buisness of taking your money in any way they can. PM's are a store of wealth...