Hello, just introducing myself

[Richardski]

Hi,

 

Just introducing myself to Forum members. 

 

My name is Richard from Wales UK. I am a former Bank Manager (please don't hate me ;-) ) UK Investment Adviser and International Wealth Manager.

 

Now retired from the Financial Services Industry I run my own marketing company helping small businesses improve revenue and profitability.

 

Despite having advised clients in the past to invest 10% of their wealth in precious metals, it was primarily directed at gold and mining funds, shares and ETF's.

Having over the past few weeks, followed most of the gold, silver and currency gurus on You Tube, I am presently persuaded of the importance of holding physical as opposed to 'paper commodities' should the 'Armageddon Prophecy' occur.

 

I am currently leaning closer towards Gold at present in view of the enormous appetite of World Banks and Governments - especially in Asia and the East - to purchase as much as they can at current prices. I also admire the Chinese Government's efforts to persuade their people to do likewise.

 

Whilst I prefer to touch and admire silver coins and bars (as they are more affordable) my concern stems from reading the World Silver Survey 2013 (from the Silver Institute) which shows that (at least 2012 and recently prior) there has been a surplus of silver available - especially when compared to Industrial and Investment demand - and this surplus is predicted to continue - despite what the Guru's (most of whom incidentally own gold and silver brokerages) suggest. However, I will admit, I can see the argument that should economies around the world collapse, there will be a flight to gold and silver, thereby rapidly increasing its price. It therefore occurs to me that Silver is a great bet in an 'end of the financial world' situation and a good bet in a 'rapidly improving economy' world (because of industrial demand) but a questionable one, when neither occurs. 

 

BTW 20% VAT on the purchase of silver hardly helps its investment case as one would need rises close to previous highs to make just a small profit, (even at current prices).

 

Having said that, if i were closer to 20 years old as opposed to 50 years old, I would certainly invest £20 - £100 per month in physical silver (depending on income) on the basis that i was saving it over the long term and not tempted to use it to make depreciating asset purchases. If I had a good job/income, I would probably purchase a sovereign every month with the same view in mind.

 

That's me ladies and gentlemen - not certain that I am right - who is? 

 

I am looking forward to many debates on here and believe that a UK forum for PM Investors and potential investors is a great idea!

 

Richard

 

 

 

 

[ChrisSilver]

Hello Richard, welcome to the forum.

 

Most of us here aren't paying 20% VAT on our silver. As silver can be sourced pretty cheaply from Germany and Estonia, due to their current laws on taxation of Silver.

Personally, when I look at a price chart, I see gold being mid priced to slightly low priced. And Silver being so ridiculously cheap that it's hard to not want to purchase more silver. If going just by the charts, silver looks to be a better investment. There is a larger percentage difference between current prices and historical highs in silver than gold.

 

I did not realise that there was a surplus of silver in the markets, I thought the opposite. Either way I believe both to be good investments right now, and that buying semi numismatic bullion gives you a slight hedge against falling spot prices.

 

Chris silver

[Danny-boy]

Welcome Richard, what a fantastic introduction.

It's very useful to have somebody with a financial / investment background on the forum.

We are often discussing CGT and VAT.

[motorbikez]

Hi and welcome Richard.

[Richardski]

Hello and thank you for the welcome and comments.

 

I'm pleased to have joined already - I can see from reading the various topics how good this site is and how great it will become.

 

ChrisSilver mentioned that members here do not pay VAT on their silver. I have looked at sites such as Silver-To-Go and although they are much cheaper, If I only wish to purchase say £200 - £300 worth at a time, the postage and bank transfer costs removes most of the price advantage. I understand they are going to open a UK account which will enable direct online transfers - for which there is normally no cost - and that will be of great assistance.

 

From a Gold perspective, 'Bullion By Post' seem reasonable - but I am open to any suggestions and recommendations from members who have made purchases and their experiences. 

 

Regards 

[ChrisSilver]

I had a quick look at bullion by post recently and their prices seemed a bit expensive.

Atkinsons usually have good prices for gold coins if buying 1oz at a time, as shipping is free.

[motorbikez]

Hello and thank you for the welcome and comments.

 

I'm pleased to have joined already - I can see from reading the various topics how good this site is and how great it will become.

 

ChrisSilver mentioned that members here do not pay VAT on their silver. I have looked at sites such as Silver-To-Go and although they are much cheaper, If I only wish to purchase say £200 - £300 worth at a time, the postage and bank transfer costs removes most of the price advantage. I understand they are going to open a UK account which will enable direct online transfers - for which there is normally no cost - and that will be of great assistance.

 

From a Gold perspective, 'Bullion By Post' seem reasonable - but I am open to any suggestions and recommendations from members who have made purchases and their experiences. 

 

Regards 

 

Hi Richard,see/read my pinned post in the International section that will be of use to you.

 

http://thesilverforum.com/forum/14-international/

[Richardski]

Yes the Metalor 1oz is considerably cheaper at Atkinsons and the sovereigns are lower in price too.

 

Many Thanks - already worth the membership fee ;-)

[Richardski]

Hi Richard,see/read my pinned post in the International section that will be of use to you.

 

http://thesilverforum.com/forum/14-international/

Thanks Motorbikez - very useful - appreciated

[motorbikez]

No problem Richard