Average £/oz

[silversword]

Get some of it cast into a medieval flail. Then if you are going to be carrying a few kilos of metal with you, at least it could prove useful if you're surrounded.

[HighlandTiger]

Just bought a 650 gram sterling silver trophy from cash converters for £190 incl postage which is around £40 below spot.

 

Not to put a downer on it, but I assume you have checked that the base is not filled with a heavy non silver weight. Some trophies are often have bases filled with things like lead.

 

And Cash Converters have a habit of including these non silver bases in the total weight. 

 

I've looked at Silver on the cash convertors site before and I have never seen any silver item under spot, and most are at least 50% ABOVE spot.

[Danny-boy]

Not to put a downer on it, but I assume you have checked that the base is not filled with a heavy non silver weight. Some trophies are often have bases filled with things like lead.

And Cash Converters have a habit of including these non silver bases in the total weight.

I've looked at Silver on the cash convertors site before and I have never seen any silver item under spot, and most are at least 50% ABOVE spot.

My old man made the same mistake at an antiques fair, the base had a 2" cube of iron in the bottom.

[HighlandTiger]

My old man made the same mistake at an antiques fair, the base had a 2" cube of iron in the bottom.

 

I made a similar mistake with a sterling silver box. From the pics on ebay it looked solid silver top to bottom, and thought the cheap price was do to a damage to one of its legs. Turned out to have a wooden base to it. It went from a 200g silver box which i paid just under spot for to a 134g silver box frame, (once i'd stripped all the wood and lining put of it). All of a sudden I've paid 40% OVER spot. A lesson learned and a mistake I wont make again. Which is why I now stick to napkin rings, spoon and tongs. No hidden additions there....

[Richardski]

Get some of it cast into a medieval flail. Then if you are going to be carrying a few kilos of metal with you, at least it could prove useful if you're surrounded.

That is such a great reply and suggestion. 

[Richardski]

Not to put a downer on it, but I assume you have checked that the base is not filled with a heavy non silver weight. Some trophies are often have bases filled with things like lead.

 

And Cash Converters have a habit of including these non silver bases in the total weight. 

 

I've looked at Silver on the cash convertors site before and I have never seen any silver item under spot, and most are at least 50% ABOVE spot.

I checked with them on the phone prior to buying online. They reduced it from £249 and I grabbed it quick. I think they made an error as they could have scrapped it for the same money or even a little more. It arrived today. The base was hollow and it weighed in at 651 grams - all metal - so i was both pleased and relieved.  Yes their silver is usually too expensive - which is why I was surprised at their mark down.. They are trying to sell 10 x 1 oz coins for £299 whereas we know better hey guys?

[Richardski]

Im thinking of starting a new thread - "the most ugly silver collection" - lol - you guys are buying nice coins and bars and i hunt for spoons, bracelets, chains, cups, tankards, trophies, junk silver coins and rings (much of them damaged or out of shape) etc.

 

I see a lot of kilo bars going for £475- £500 and i just cant bring myself to buy them when i know its £3+ an ounce over spot - but i may convert one day 

[Ares]

I can't buy junk, even at spot, I really just can't do it

 

Perhaps those that do are the 'true' stackers in a sense, just wanting as much silver as possible regardless of form or function at the best prices?

[Carpe Diem]

Get some of it cast into a medieval flail. Then if you are going to be carrying a few kilos of metal with you, at least it could prove useful if you're surrounded.

 

Or a pair of sterling silver underpants, and bra of the same for the mrs

[Richardski]

I can't buy junk, even at spot, I really just can't do it

 

Perhaps those that do are the 'true' stackers in a sense, just wanting as much silver as possible regardless of form or function at the best prices?

I can understand as frankly its not as nice as buying silver coins nicely displayed.

 

My view at present is that, even when buying junk silver etc one is still paying around £12-£14 per oz. - this equates up to $24 - so to sell even at break even, allowing for for the brokers (or smelters margin) of say 5%-  the spot price needs to rise to $25 + This is an increase of 25% on current spot price. If I, as a Financial Adviser asked a client to invest in a fund where the fees were going to erode his/her investment by 25% from day 1 (without any move in the marketplace) - I wouldn't have many investors.

 

This is why all of us should be buying silver as cheaply as possible, and if not, be prepared to wait that extra duration we would normally expect. Of course there is always the 'speculation' that currencies will collapse and gold and silver prices will 'rise to the moon', but failing that, its a 10 - 20 year wait in my view - at least to sell at a reasonable profit. "Black Swan" events such as wars, uprisings, floods, droughts and famines, may indeed bring such a time forward but it is safer to regard these as a possibility rather than a certainty.

 

I appreciate the argument that coins will fetch a small premium over 'junk silver' but I notice even on ebay, those selling maple leafs for example, after all fees, are only getting a similar price to that which they paid (if bought relatively recently). STG purchases offer us an opportunity to make say a net 10% turn on ebay in many cases which is fine but I think a lot of work to make say £1 or £2.

[KeenoStakz]

My average is just over £16. I am more a stacker than collector but i do have alot of Perth mint stuff in my stack.

[Pipers]

Hi! My average now is £16,55 but I have only 32,5oz so it's not representative yet!

 

 

Is that including delivery?

[Danny-boy]

Hi! My average now is £16,55 but I have only 32,5oz so it's not representative yet!

I'd say at 32oz, it's a fairly representative figure.

A very impressive one at that!!!

[DrDime]

I use an app which tells me how much I paid and the gain/loss if sold for spot. So basically as of today I've paid 1.667 times spot for my silver as a whole. That's exactly 2/3 premium. I was stacking when spot was pushing £30 though

[StackemHigh]

The Vast majority of people here do go down the route of buying semi-numi, numi and proof coins at some point.

 

I like the idea that a well looked after coin can increase it's value over time.

 

For some silver is just silver and fingerprints burnt into coins (oil and acids/alkaline from fingertips) and surface scratches from handling/cleaning is common. This is ok if you want or don't mind the coins to stay at spot price.

 

Look after your stack / collection and your stack / collection should look after you when your old and grey.

 

PS.

 

When proofs are purchased there is less need to keep a £/oz ratio as the coins have supposed extra value in a quality finish which is not reflected in this ratio.

[Richardski]

The Vast majority of people here do go down the route of buying semi-numi, numi and proof coins at some point.

 

I like the idea that a well looked after coin can increase it's value over time.

 

For some silver is just silver and fingerprints burnt into coins (oil and acids/alkaline from fingertips) and surface scratches from handling/cleaning is common. This is ok if you want or don't mind the coins to stay at spot price.

 

Look after your stack / collection and your stack / collection should look after you when your old and grey.

 

PS.

 

When proofs are purchased there is less need to keep a £/oz ratio as the coins have supposed extra value in a quality finish which is not reflected in this ratio.

I have to agree. To date, I have mainly bought "Junk Silver" and a number of the more common coins and bars. However, I deviated last week and bought a 1KG Silver Nelson Mandella Medallion - Pic Below. 

 

I wont include this in my £ per oz for the reasons mentioned by "Stack 'em High" - However if anyone wants to "bribe me" with 2kg of 999 silver in exchange - I may be persuaded to swap   and will then include it. 

[Keithoil]

With my purchases from the USA and my recent supplier purchases, I am now at £18.34/oz.

[HighlandTiger]

Thought I'd better check mine, seeing as my stack has been leaning towards the dark side as I've picked up some not so cheap items recently. I'm calling it "diversification of my investment to counter all future events" 

 

oooooh, it's gone to £17.29 / oz t, and it's going to go up a little more after my next purchase 

 

Time to start buying the phillies, maples and scrap silver again.

 

 

[Danny-boy]

I'm still hovering around £25/oz.

[HighlandTiger]

I'm still hovering around £25/oz.

LOL thats not hovering, thats zooming into the sky on a saturn rocket. 

 

...and I'm sure you've got your eye on some more nice proofs

[Danny-boy]

LOL thats not hovering, thats zooming into the sky on a saturn rocket.

...and I'm sure you've got your eye on some more nice proofs

It's definitely hovering, I have been there for about 12 months I think.

Have been on proofs and high reliefs lately, and some of the lunar series 2 didn't help matters!!!

[watchesandwhisky]

My stack is certainly amongst the most ugly around but I am starting to clean it up a bit, Junk is the core of my stack but I am starting to believe that it is not good to have everything directly tied to spot price. 

 

Average price at a guess £18 

[Agpanda]

I started doing a daterun on Pandas, both OMP and MS 70 graded

Now my average is on £30/oz and still climbing

[StackemHigh]

Great news Bosse. Always good to hear that people are buying the silver they like.

[Keithoil]

That is good Bosse68.

 

I have a similar problem I like the NGC slabbed coins but it knocks holy hell out of my £/oz. So compromise has to be struck, buy some slabs then buy some bullion.

 

It does work but is a long painful process, but then again hopefully I will have a few years in which to get all my PM's up to a very respectable level.