New to investing and looking for some advice

[matthewmilesuk]

Hi all!

I’ve been a member of the forum for a couple of days and have been reading up, watching YouTube videos, and generally trying to sort out an approach to investing in silver going forwards.

I am interested in investing in silver as a long term insurance / safety strategy as a secondary interest after investing in my ISA and work pension. Nothing fancy, and no master plan to end up becoming my own private version of the royal mint lol.

From what I’ve read so far, I think my plan is to buy around 10oz per month as this is affordable and not money I would otherwise “miss” (I’m looking at the Scottsdale stackers as they look nice, stack which does wonders for my OCD, and seem to be a reasonable investment overall). I’m not really concerned with numismatics - other than potentially Britannia’s for CGT if this possibly comes into play when I die - I’ve got another 44 years til I’m 80 as a guide.

Im then looking to supplement with a 1kg purchase once a year as a “bulk” top up. Again, maybe the Scottsdale 1kg stackers, or unicorn poured or similar - whatever works out best value but is from a recognised refinery/mint.

Does this seem reasonable as an approach?

Secondly - as the world seems to have basically come to an end at the moment and things are slightly chaotic, I can see there’s basically no silver around for sale anyway. I can get some 2020 Britannia’s from gold.co.uk, and am wondering if this is “worth it” at the moment until things get back to normal, or if I should just wait and see what happens for now - after all, I’m not in any rush!

Any/all advice gratefully received!

Cheers

Matt

[Agpanda]

Hi and welcome to the forum from Sweden

[Auricsstash]

My advice if you want to buy PM in the uk and want to take delivery don’t buy silver. for the money you are talking about spending its nearly a half sovereign per month.

[matthewmilesuk]

4 minutes ago, Agpanda said:

Hi and welcome to the forum from Sweden

Thanks Agpanda!

[HawkHybrid]

17 minutes ago, matthewmilesuk said:

I am interested in investing in silver as a long term insurance / safety strategy as a secondary interest after investing in my ISA and work pension.

 

consider choosing gold instead?

(as silver is more volatile/speculative)

 

HH

[matthewmilesuk]

2 minutes ago, Auricsstash said:

My advice if you want to buy PM in the uk and want to take delivery don’t buy silver. for the money you are talking about spending its nearly a half sovereign per month.

I hadn’t considered gold as I thought would be more complex/difficult or “out of my league” to be honest. 

Having just taken a quick look, I can see that would be approx 3.6g - 5g per month; which also seems infinitely more storable, and no tax to pay either which is also a big benefit.

Out of curiosity, what would be the benefit of stacking silver over gold? Easier to sell a smaller amount of silver; more about numismatics; more affordable/cheaper to get into?

Thank you for the advice - definitely something for me to consider... 

[Auricsstash]

Way less premiums at present the cheapest oz of identifiable silver is going to cost you £18-20+ The spot price is £11.70 if you can buy silver at spot it’s a good buy but you won’t find any other than in junk type items...

You can get sovs at a couple of % on spot... if I could go back I would have completely ignored silver and gone 100% gold sovs..

[matthewmilesuk]

3 minutes ago, Auricsstash said:

Way less premiums at present the cheapest oz of identifiable silver is going to cost you £18-20+ The spot price is £11.70 if you can buy silver at spot it’s a good buy but you won’t find any other than in junk type items...

You can get sovs at a couple of % on spot... if I could go back I would have completely ignored silver and gone 100% gold sovs..

Thank you so much for the advice Auricsstash! I totally take on board what you’re saying and the benefit of your hindsight is invaluable!

Best wishes

Matt

[Kman]

38 minutes ago, matthewmilesuk said:

 I’m not really concerned with numismatics 

Occasionally there's new coins released that are no brainers to get and you can flip for a good profit

If you hang around on the forum you will get a sense what they are because their release will have a certain buzz

For instance this year the Una and the Lion siver was £180.00 and you could pretty safely sell it for £450+ judging by Ebay and long term probably more

[Blehhhh]

3 hours ago, Auricsstash said:

 

You can get sovs at a couple of % on spot... if I could go back I would have completely ignored silver and gone 100% gold sovs..

Can you please link these sovs at a couple of % over spot. Are these private sales?

Any ones I find on smaller sovs are at least 6 percent.

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Added 0 minutes later...

3 hours ago, Kman said:

Occasionally there's new coins released that are no brainers to get and you can flip for a good profit

If you hang around on the forum you will get a sense what they are because their release will have a certain buzz

For instance this year the Una and the Lion siver was £180.00 and you could pretty safely sell it for £450+ judging by Ebay and long term probably more

Hey, are you Carl Pilkonton?

[Auricsstash]

Hi Blehhhh not sure who it was that created the following site but as very few places are currently open premiums are quite high.
If you went sovs at spot the best place to buy is on this very forum however some bargains can be had at dealers I picked up a 2020 sovereign from harrington and Bryne a couple of weeks ago for I think £309 thanks to the thread below be patient this stuff is out there and I don’t see it shooting the moon yet....

cheapest gold

http://goldprice.eu5.net

UK gold deals thread...

 

 

[Serendipity]

Welcome 🖖🏻 

[Blehhhh]

25 minutes ago, Auricsstash said:

 

http://goldprice.eu5.net

 

 

Thanks, Ill look tomorrow, but I still think 2 percent premiums is extremely optimistic right now.