Silver Monitoring Thread £ (GBP) only.

[bobski]

4 hours ago, jackflash123 said:

Yeah you can say that again. I honestly don't see the logic in overcharging, unless the Royal Mint actually believe that their prices represent value for money.

Surely they would sell more coins and make more profits if they reduced their prices to reflect what other dealers are charging.

Think they need a lesson in Salesmanship!

I think it's just a sales technique. Advertise something worth £240 at £360. Give bullion dealers a great price and tell them to sell at £340 (or leave the correct margin in price to force them to sell at that price). People who buy from the dealer will think they've had a £20 discount. People who know no better and buy from the mint direct, make RM a fortune.

OUTCOME: The mint always wins

[jackflash123]

41 minutes ago, bobski said:

I think it's just a sales technique. Advertise something worth £240 at £360. Give bullion dealers a great price and tell them to sell at £340 (or leave the correct margin in price to force them to sell at that price). People who buy from the dealer will think they've had a £20 discount. People who know no better and buy from the mint direct, make RM a fortune.

OUTCOME: The mint always wins

Absolutely, I agree that is another way of looking at it, and an extremely valid one at that.

If the RM price their items way higher than the current spot price, and then instruct dealers at what apx price they should be selling at, then anyone buying from a dealer will feel like they've got a bargain.

And you're right the Mint does always win, because you're always purchasing from them either directly or indirectly.

[Fishy321]

Just doing some rough calculations on estimates for total silver mined plus total theoretical silver left to be mined at a price of £24 oz comes to just over £1.5 trillion(2mx32000x24) tonnes x oz per tonne x price per oz , with a current silver market cap of £1.3 trillion very rough estimates I would think from a quick Google on past and possibly future predictions, with 1.5 million tonnes mined and 550,000 tonnes left to mine so at £24 oz all silver ever mined would be £1.15 trillion(1.5mx32kx24) - it makes me think there may be some room for upward movement, it's also worth noting, although maybe not believing like most figures as it certainly seems high, that some researchers believe 90% of all silver mined has been lost to landfill / industrial use, and with say 250 paper silver oz for every physical one, it would make physical ownership possibly not a bad shout, keep stacking 🙂 

[Fishy321]

And if my math is super rubbish please feel free to correct me 👍

[bobski]

£22.83

[Gruff]

Looks like the markets are going after the PMs this morning

[ArgentSmith]

 

 

[SilverDrum]

What's the going rate for a silver Britannia on the forum? Got a few tubes to move and i can't seem to see any recent sales of tubes of brits.

[theman73]

4 minutes ago, SilverDrum said:

What's the going rate for a silver Britannia on the forum? Got a few tubes to move and i can't seem to see any recent sales of tubes of brits.

Around £22 if you want to sell, £27 if you want to buy.

Which way do you want to move the tubes? Buy or sell? 

[SilverDrum]

5 minutes ago, theman73 said:

Around £22 if you want to sell, £27 if you want to buy.

Which way do you want to move the tubes? Buy or sell? 

🤣 you are a fungi. Sell below spot?

[theman73]

4 minutes ago, SilverDrum said:

🤣 you are a fungi. Sell below spot?

Jocking mate

[SilverDrum]

2 minutes ago, theman73 said:

Jocking mate

Guessing you don't sell silver often?

Anyone actually know how much a silver britannia sells for? 

[SidS]

15 minutes ago, theman73 said:

Jocking mate

So long as the strap stays on, we're alright. 😉

[monkey]

39 minutes ago, SilverDrum said:

Guessing you don't sell silver often?

Anyone actually know how much a silver britannia sells for? 

From my searching around £24.

[timsk]

58 minutes ago, SilverDrum said:

. . . Anyone actually know how much a silver britannia sells for? 

For a 25 coin tube, you can sell them to me for £590.00 to include RMSD. You can have the money in your account by the end of the day!

👍

[James32]

3 hours ago, SilverDrum said:

What's the going rate for a silver Britannia on the forum? Got a few tubes to move and i can't seem to see any recent sales of tubes of brits.

£620 posted should see you over the line.

[Gruff]

https://www.chards.co.uk/2024-britannia-1-oz-silver-bullion-coins-in-tube-25-coins/19235

But I'm not sure how many are buying at this price at the moment... premium seems steep at the moment - £2.50 each coin or 10% premium, so maybe there is demand for them?!

[Dalriada83]

Hello . . . is there anybody in here? It's like the Marie Celeste without the buffet.

[bobski]

£22.70

[Bars]

Stackers are a funny bunch 

I remember during the silver squeeze hype £30 was the standard price for 1oz coins - back when silver reached the dizzy height of £21. 

[Chronos]

3 minutes ago, Bars said:

Stackers are a funny bunch 

I remember during the silver squeeze hype £30 was the standard price for 1oz coins - back when silver reached the dizzy height of £21. 

Only £9,99 if you want to insult stackers and get away with it.

Codename: Chris

[ccfcpaul]

6 minutes ago, Bars said:

Stackers are a funny bunch 

I remember during the silver squeeze hype £30 was the standard price for 1oz coins - back when silver reached the dizzy height of £21. 

It does seem the increase in spot isnt really being factored in properly yet on here. When spot was  at £18, it'll cost you £22-25 for a brit and other major coins. Spot at 22.50 and a coin will still cost £23-25

[theman73]

48 minutes ago, ccfcpaul said:

Spot at 22.50 and a coin will still cost £23-25

No one has new stock at the new spot price.

[bobski]

£22.64

[bobski]

£22.72