Silver Monitoring Thread £ (GBP) only.

[HighlandTiger]

don't know about that but if you go on you tube  theres a guy stating  that todays  spot prices are ridiculous for old stackers , I don't know how you would find it but its fascinating, the guy shows you some old national geographic magazines  stating the spot price and coins for sale  at xxx over spot in each page theres an ad for a silver and a golds coin   showing the % over spot

 

I think it can be found under  the common heading    todays spot prices are ridiculous for older stackers   screen shot shows 2 national geographic magazines

I tried searching for it, but cant seem to find it.  have you got a link?

[HighlandTiger]

It's ok I've found it.

 

[HighlandTiger]

Done a few calculations

 

2004

 

Gold Spot 1/10th = $40.60 Purchase Price = $45 = 11% over spot

 

Silver spot = $6.30 Purchase Price = $7.90 = 25% over spot

 

2014 (using APMEX prices)

 

Gold Spot 1/10th = $129.30 Purchase Price = $148.64 = 15% over spot

 

Silver spot = $20.64 Purchase Price = $24.73 = 20% over spot

 

 

Looks like silver today is pretty good going as a percentage over spot, but the premiums on fractional gold have risen. I'll be sticking to my sovs at 5% over spot 

[a_a]

$8 eagles

[simon13]

I'm getting itchy for a STG order but I might hold out a while longer and see where this downturn goes. £12.06 / $20.68. 62.56 ration to gold.

Where to hold out to. At £11 spot i'd be putting on a large order. What are you guys hoping for? I've read that primary silver mines need $18 (£10.50ish at current exchange) to break even.

[CurryMuncher69]

If you look at my early posts, I was exactly like you, worrying about every single pence spot price went up, and having the fear that spot price will double next day e.t.c,

Now 5 months in to it and talking to OLD and EXPERIENCED stackers (shout out to danny boy) you should not worry about the price dips or rise. When the price does escalate you will be happy that you bought some in the first place. I just order my monthly purchases and do not worry about the spot price, until a few days before I order, to see what I can buy with my hard earned money. 

TLDR: Dont worry, Just Buy what you can, and Enjoy life. 

[simon13]

Up 2 pence! :0

[Dave]

Don't keep looking at spot, it took 3.6 billion of paper sales to bring it down, you will find that lower spot brings higher premiums , and or lack of stock . It's just a game at the moment, if I offered you spot for all your silver , where would you tell me to go ! Spot price has nothing to do with stacking

[silversword]

Yep. If you are ready to order, and if today's price is good (which it is), then go ahead.

[simon13]

Pulled the trigger last night at 2.30am. £500 order. £14.76 per OzT, mostly maples and a few nicer bits from STG.  That'll be me for a while.  Thanks for the Advice, chaps.

[craig12]

spot can be important if you don't intend selling through e bay or forums,  as the rise you need just to get your money back will be horrendous   so yes  if spot is £12.20   that's a lot worse than  £11.75  on 20 coins

[Danny-boy]

spot can be important if you don't intend selling through e bay or forums, as the rise you need just to get your money back will be horrendous so yes if spot is £12.20 that's a lot worse than £11.75 on 20 coins

But Craig, as you have recently complained about, cost price doesn't necessarily move with spot price.

There won't be a 45p cost price difference from your numbers above, although that's the spot price difference.

[craig12]

wether its 45p or not   as its obviously not going to be   I will rather buy when I see a fall  in spot price    dosent suit sites like sarnia   but does with others,

[HighlandTiger]

 I offered you spot for all your silver , where would you tell me to go ! 

I'd give you my address, tell you to bring your wallet, and get you to buy all this junk silver I have. Currently my junk cost is a tad under spot. I'd make a little profit

[morezone]

By all means buy when you see a fall in spot.  Buy at a price which you are happy with.  At the end of the day, the "happy buy price" will be different for everyone.  For me, £12.50 or under is good.  £12.50 and above isn't so good but it won't stop me from buying.  There are some here who consider £15 and below a good spot price.  If you want to buy at the very lowest price, then just wait and sit it out,  It may fall to that £11.30 level soon.  It may never fall to that level again.

 

If you're not planning on selling the stuff on Ebay/Forums or whatever and the spot price is really that important for you, just buy junk silver or anything that you can get your hands on cheap.  Forget bullion.

[a_a]

Where do you guys get good deals on junk .900 silver? I heard a couple of people say eBay but its all way over spot from what iI have seen

[Ares]

Sometimes it's just persistence, occasionally you see junk silver go for spot. There's a dealer near me who sells junk for spot, half crowns and such from people clearing out houses usually, but I find so little desire to own them even at spot by and large.

Edited July 16, 2014 by Ares

[a_a]

Yeah its not great to look at but it's easy to sell in an emergency as I won't be attached to it in the least. Maybe some bars would be better

[Ares]

True, that's always going to be my problem, not wanting to let it go! I dunno, it just seems like the only people who'd buy junk are those who want it cheap as possible, I'd like to aim at those who'd rather want something to treasure of sorts. They'd pay over spot.

[HighlandTiger]

Where do you guys get good deals on junk .900 silver? I heard a couple of people say eBay but its all way over spot from what iI have seen

It's just a matter of waiting for the right auction, and set yourself a limit with what you will pay per gram. I do a quick search on ebay every night, but I might only win one or two auctions a week, and it might be for only a few grams here and there, but it all adds up..I've got 15 years to build up a good junk silver stack. I'm in no rush 

[Danny-boy]

Decent jump just now.

[silversword]

Decent jump just now.

 

Anyone holding out for sub-£12 is going to have to wait a little longer. Pretty much back to where we started the week.

 

Edit: Just seen news that an airliner has crashed in Ukraine, supposedly shot down by a SAM. Market panic spurring PM prices?

Edited July 17, 2014 by silversword

[Ares]

Probably because an escalation increases the likelihood of further sanctions against Russia (should the plane have been shot down by the separatists) which the stock markets don't like. Money being moved over as a precaution most probably.

[craig12]

buy coins privately  then  no need to worry about spot  I bought 6 oz  recently  for 6 for £80

theres always someone who may sell bullion  the key is to buy private   or make em an offer

[Danny-boy]

buy coins privately then no need to worry about spot I bought 6 oz recently for 6 for £80

theres always someone who may sell bullion the key is to buy private or make em an offer

Has somebody hijacked your account Craig?

Or is that you telling somebody not to worry about spot?

[emoji1]