I need your advice

[SilverHive]

Hello to all the TSF members,  my name is Meir and i am new here.

I am 26 years old from Israel.

i want to make a big purchase on precious metals and i need your advice...

first of all, what is the right precious metal that you recommend to purchase (Silver or Gold)?

then what is better way to buy it (500 coins or 5 Bars{100oz })?

I want to invest somting like 7-8K USD.

thanks for reading that, Meir

 

P.S: if some 1 know on agood way to bring some precious metals to Israel in away that the customs didnt notice its can really helpfull to

[Roy]

@TheApe

[ChrisSilver]

19 minutes ago, orikori1 said:

P.S: if some 1 know on agood way to bring some precious metals to Israel in away that the customs didnt notice its can really helpfull to

You can't use the forum to discuss illegal activities. If this topic starts to become a discussion about this we would need to close/hide the topic. 

[Fadeingstar]

Hello,

Welcome to the forum.

1) I think the common consensous and from what I have researched is that it is best to have a diversified collections of gold,silver and maybe platinum to try and limit your exposure if there was a sharp decline in the price of the percious metals. One thing to remember especially if storage space in limited is that silver takes up a lot more physcial space than gold for the equivalent value. At current spot price a 100oz bar of silver (which weighs around 2.8kg) is roughly worth the same as a 1oz gold coin that can fit in your pocket.

2) Personally I would go for a mix of both. The premiums tend to be better on the large bars which means that 100oz bars will cost less than 100oz of coins. So you get more bang for your buck. This is a generlisation though and there are deals to be had. One thing to think about is what is called the exit plan. If you needed sell your silver in a hurry would there be many buyers for large 100oz bars or would there be more buyers for lets say 10oz of coins but selling to 10 different people. I am not sure what the precious metal market is like in Israel but something to bare in mind.

I am sure there will be some more experianced forum members who will be able to go into more detail. I am still fairly new to this myself just though it might help.

Cheers,

Star

[TheApe]

43 minutes ago, Roy said:

@TheApe

What to you need Roy?

[Roy]

You're the only person I know who is familiar with H.N.W. individuals so I thought your advice would be appreciated.

[TheApe]

4 minutes ago, Roy said:

You're the only person I know who is familiar with H.N.W. individuals so I thought your advice would be appreciated.

Roy I dont even know what H.N.W is. 

[Roy]

Exactly

[MrTT]

Welcome 🤠

Put 50 % into gold and 50 % into silver.

Buy 1 ounce coins, gold & silver.

Choose the coins you get best prize on.

Or the one you like the most 👍

Not sure who ships to israel, but you can try ask https://goldsilver.be/en/ or https://www.geiger-edelmetalle.de/en/

Good luck

[TheApe]

31 minutes ago, Roy said:

Exactly

Good lad, now stop pestering me.

[sixgun]

7 minutes ago, TheApe said:

Good lad, now stop pestering me.

He was talking about Ena Sharples - i used to like Coronation Street.

[sixgun]

What is the tax situation in Israel?

Capital Gains Tax, sales tax (VAT or whatever it might be called), import duties etc etc.
$7 - 8k is not such a lot when you start spending on precious metals - when it comes to gold it does not go very far.
It is likely in the coming years that silver will appreciate more than gold but so often there are tax issues. In the EU there are dealers who claim they sell without VAT - i won't get into the details of this but they do sell at lower tax prices. This only applies inside the EU.
There are countries around Israel which are still low or no sales tax but you might not want to go there, it might not be safe for an Israeli citizen and for $8k it probably would not be worth it. 

At the moment gold has been doing better than silver but silver will start to overtake gold. Gold is usually tax free and lower premiums - you get more value with gold for your money. 

As Chris says we cannot discuss smuggling, tax evasion on the forum - i have no idea how closely the Israeli customs look at packages - i have bought a few bits of silver from China and only once the parcel was opened and i was charged VAT - since the value of the silver was a lot more than the assessed price i did not mind. There is a thing about 5% UK import VAT on numismatic collectible silver and i think i probably paid 5% so fair enough. 

If you want a very safe investment which is easily portable then go for gold - go for coins - always buy coins when it comes to gold as there are too many fake bars around. Get whatever coins are most popular in Israel or wherever you might sell the coins. A local dealers is best - build up a relationship - there are lots of good dealers on the internet - https://gold.de - this is a price comparison site for Germany and there are lots of dealers there. In the UK the best place to buy gold is the UK - there are good dealers like Chards, Atkinsons, Hatton Garden Metals to name but a few.

[Mox]

1 hour ago, TheApe said:

Good lad, now stop pestering me.

No no no no no. @Roy needs to tell us, I don’t know either. Are they dodgy or trustworthy? Do they have pimples or skin as smooth as a babies bum? Are they normal or vegans? Etc etc

[jultorsk]

Just now, Mox said:

No no no no no. @Roy needs to tell us, I don’t know either. Are they dodgy or trustworthy? Do they have pimples or skin as smooth as a babies bum? Are they normal or vegans? Etc etc

Probably all of the above are true (High Net Worth). 

[TheApe]

Apparently Roy is put out about my views in another topic and decided to continue to take it up here and in other threads.

[SilverHive]

thanks for your comment 

[Mox]

11 minutes ago, TheApe said:

Apparently Roy is put out about my views in another topic and decided to continue to take it up here and in other threads.

Ooooh do tell, I like a bit of gossip, it’s the Ena Sharples in me I guess.

[SilverHive]

2 hours ago, Roy said:

H.N.W.

 

1 hour ago, sixgun said:

What is the tax situation in Israel?

Capital Gains Tax, sales tax (VAT or whatever it might be called), import duties etc etc.
$7 - 8k is not such a lot when you start spending on precious metals - when it comes to gold it does not go very far.
It is likely in the coming years that silver will appreciate more than gold but so often there are tax issues. In the EU there are dealers who claim they sell without VAT - i won't get into the details of this but they do sell at lower tax prices. This only applies inside the EU.
There are countries around Israel which are still low or no sales tax but you might not want to go there, it might not be safe for an Israeli citizen and for $8k it probably would not be worth it. 

At the moment gold has been doing better than silver but silver will start to overtake gold. Gold is usually tax free and lower premiums - you get more value with gold for your money. 

As Chris says we cannot discuss smuggling, tax evasion on the forum - i have no idea how closely the Israeli customs look at packages - i have bought a few bits of silver from China and only once the parcel was opened and i was charged VAT - since the value of the silver was a lot more than the assessed price i did not mind. There is a thing about 5% UK import VAT on numismatic collectible silver and i think i probably paid 5% so fair enough. 

If you want a very safe investment which is easily portable then go for gold - go for coins - always buy coins when it comes to gold as there are too many fake bars around. Get whatever coins are most popular in Israel or wherever you might sell the coins. A local dealers is best - build up a relationship - there are lots of good dealers on the internet - https://gold.de - this is a price comparison site for Germany and there are lots of dealers there. In the UK the best place to buy gold is the UK - there are good dealers like Chards, Atkinsons, Hatton Garden Metals to name but a few.

thank you for your great tips.

the Tax in Israel are crazy high 17-18%.

and the only place that sell precious metals is government websit, the price there are shocking.

I keep looking for Israeli stackers community but so far no luck

thanks againg for you answer, Meir

 

 

 

 

 

 

[TheApe]

3 minutes ago, orikori1 said:

 

thank you for your great tips.

the Tax in Israel are crazy high 17-18%.

and the only place that sell precious metals is government websit, the price there are shocking.

I keep looking for Israeli stackers community but so far no luck

thanks againg for you answer, Meir

 

 

 

 

 

 

Sorry that your thread was derailed by Roy🤣

[sixgun]

@orikori1Are there any restrictions on importing gold and silver into Israel?
If not i would order it in from the US or Europe.
There is another way to look at this - sometimes people talk about confiscation of gold - like by the US in the 1930's - for years afterwards there were bans on people having many coins other than historic coins. What the criminals in so called government did not do in the UK/US for example, is go for jewellry. The problem with a lot of jewellry is there is sales tax/VAT and there is a big premium - so that you might end up paying twice the value of the gold. This is not the case everywhere. There is a gold market of this sort in parts of the Middle East where the prices are better. There are places in SE Asia ( @Roy ) will know something of this. Jewellry can get auctioned off and the premiums are a lot lower. If you bought a gold necklace and a couple of bracelets that would blow the $8k and you wear them home. 

[SilverHive]

16 hours ago, sixgun said:

@orikori1Are there any restrictions on importing gold and silver into Israel?
If not i would order it in from the US or Europe.
There is another way to look at this - sometimes people talk about confiscation of gold - like by the US in the 1930's - for years afterwards there were bans on people having many coins other than historic coins. What the criminals in so called government did not do in the UK/US for example, is go for jewellry. The problem with a lot of jewellry is there is sales tax/VAT and there is a big premium - so that you might end up paying twice the value of the gold. This is not the case everywhere. There is a gold market of this sort in parts of the Middle East where the prices are better. There are places in SE Asia ( @Roy ) will know something of this. Jewellry can get auctioned off and the premiums are a lot lower. If you bought a gold necklace and a couple of bracelets that would blow the $8k and you wear them home. 

Thanks again for your time Bro, I really appreciate it and it is helpfull to !