Im new

[Barred]

Hi everyone

I'm a young man interested in starting to collect silver/gold, my main objective is to initially buy around £500 worth to start off, and see how it goes, with the possibility of expanding in the future to sell an amount/collection for profit.

I have a few questions to ask the community.

1) Should I invest in silver or gold?

2) Should I buy bars or coins?

3) Best websites to buy and how to sell when the time is right?

4) With the current pandemic is this a good time to buy with a potential economic crash looming?

I appreciate your time, many thanks.

 

 

[MrTT]

Welcome Barred

With 500£ , i think you should buy silver.

Buy 1 ounce silver coins, its a good start.

Buy the one with best price or the one you like the most.

https://goldsilver.be/en/

https://www.geiger-edelmetalle.de/en

https://www.bullionbypost.eu

https://www.eldoradocoins.de/en

Here are a few good dealers.

Good luck 👍

[silenceissilver]

Here are some British dealers

 

Personally, I almost only buy coins, some say there are more fake bars than coins but if you buy from these dealers you shouldn't get any fakes anyway. I guess it's personal preference, at least for me.

Silver is more volatile, it can appriciate more but you could also lose more. Although roughly half of the newly minted silver is used for industrial purposes (much lower percentage for gold) and thus arguably it is more pro cyclical, many think it will considerably outperform gold in the coming economic crash because the silver market is much smaller and therefore it needs less people getting into silver for it to raise in value.

There is VAT on silver that you don't get back when sell thus it needs to get up more for you to be even. There are ways to minimise this though, e.g. by buying with the group orders @BackyardBullion from Estonia with no VAT (or almost no VAT, can't recall it now).

A looming economic crash is the best time for anticyclical assets like gold (and arguably silver). You are arguably late to the party if you look at the gold charts since last summer but many think it's still early days as we are still in the early days of the crisis.

I struggle to see bonds surving the crisis, the stock markets are still over-valued, so tangible assets are the safest way to bring your money to the other end of the crisis.

 

 

[HerefordBullyun]

Or you can alternatively buy from here from people on the forum. And welcome to the forum.

[Barred]

Great feedback, thanks for getting back so quickly, I've got a lot of work to do!

Thanks again.

[silverdocket]

Welcome from 🍀 Ireland 🍀