Silver Monitoring Thread £ (GBP) only.

[Paul]

On 06/11/2022 at 04:22, gji25 said:

Wonga says paul needs to be holding more than 3g of silver 😃

Paul might have a chunky five figures in silver going forward, but it'll be in bullionvault only 

[MergingCultures]

How do you price silver in your portfolio? Do you include the VAT or just go with spot and write off the VAT?

[James32]

5 minutes ago, MergingCultures said:

How do you price silver in your portfolio? Do you include the VAT or just go with spot and write off the VAT?

Jaysus grasshopper, you write in cost price ( even including delivery if applicable) then you know what price is suitable to sell at ( spot price dependant of course)

Buy on here will often be your cheapest option and you get to see exact items before hand. On here think of it as premium over spot rather than vat.

[modofantasma]

12 minutes ago, MergingCultures said:

How do you price silver in your portfolio? Do you include the VAT or just go with spot and write off the VAT?

I have 2 numbers my cost and current vaule.

Record the total cost as James said so what you paid for the items including delivery, vat, storage etc.

For current value I just take the number of Oz X spot price. 

[modofantasma]

If I bought a monster box of Brits now my cost would be £13150 (£26.30 an oz) just picked Atkinson's price as I had their site open. This would be fixed.

I'd call current value as £8875 though at current spot £17.75 oz this would change depending on the day I calculated

[James32]

Just now, modofantasma said:

If I bought a monster box of Brits now my cost would be £13150 (£26.30 an oz) just picked Atkinson's price as I had their site open. This would be fixed.

I'd call current value as £8875 though at current spot £17.75 oz this would change depending on the day I calculated

If you go through with the order, I'm happy to buy from you at £9.5k. 

Nice quick profit?

[modofantasma]

Just now, James32 said:

If you go through with the order, I'm happy to buy from you at £9.5k. 

Nice quick profit?

What on earth would I be buying that for 🤣 

To clarify you would use your actual cost when working out profit or loss but if you were for eg calculating your net worth on a particular day it would be no good valuing your assets higher than what you'd get for them 

[James32]

Just now, modofantasma said:

What on earth would I be buying that for 🤣 

To clarify you would use your actual cost when working out profit or loss but if you were for eg calculating your net worth on a particular day it would be no good valuing your assets higher than what you'd get for them 

Yeah but surely including a premium, even if on the lower end?

 

[modofantasma]

Just now, James32 said:

Yeah but surely including a premium, even if on the lower end?

 

Call me pessimistic 🤣 

 

[modofantasma]

16 minutes ago, James32 said:

Yeah but surely including a premium, even if on the lower end?

 

Say you bought £10k of shares last year and now they're worth £5k. Your cost is £10k but the market doesn't care and won't give you that for them. Equally if the shares are now worth £15k you can sell them for that, the market doesn't care that you paid only £10k

[MergingCultures]

29 minutes ago, modofantasma said:

I have 2 numbers my cost and current vaule.

Record the total cost as James said so what you paid for the items including delivery, vat, storage etc.

For current value I just take the number of Oz X spot price. 

The cost and the current value of the metal is straightforward.

The question is, what premium do people add to the spot price? So therefore there are three numbers.

Is it just what you need/feel like? Or is it just easiest to do (spot+VAT) x 0.95? And therefore undercut the market to guarantee a sale. I'm talking Brits.

Basically, the silver part of my portfolio looks rubbish when I just do spot!

[James32]

Just now, modofantasma said:

Say you bought £10k of shares last year and now they're worth £5k. Your cost is £10k but the market doesn't care and won't give you that for them. Equally if the shares are now worth £15k you can sell them for that, the market doesn't care that you paid only £10k

I get your point, but that's why I included ( spot price dependent) I ain't selling at a loss unless I dislike the item or in dire straights.

 

[modofantasma]

3 minutes ago, MergingCultures said:

Basically, the silver part of my portfolio looks rubbish when I just do spot!

💡💡💡

[James32]

1 minute ago, MergingCultures said:

The cost and the current value of the metal is straightforward.

The question is, what premium do people add to the spot price? So therefore there are three numbers.

Is it just what you need/feel like? Or is it just easiest to do (spot+VAT) x 0.95? And therefore undercut the market to guarantee a sale. I'm talking Brits.

Basically, the silver part of my portfolio looks rubbish when I just do spot!

So the average selling price of generic 1oz coins currently on the forum is £24... so that's a premium of £6ish and usually falls within them parameters since I've been on here. Go a £1 back to keep safe realistically. 

 

[modofantasma]

4 minutes ago, MergingCultures said:

Basically, the silver part of my portfolio looks rubbish when I just do spot!

Hopefully over time the silver price will rise up higher than your cost and put you in the green 🤞🏽

[MergingCultures]

Just now, modofantasma said:

Hopefully over time the silver price will rise up higher than your cost and put you in the green 🤞🏽

Of course, but that's also not the point! If I needed to sell it (or the wife asks how much I've invested!), it's good to have an idea of premiums to charge.

VAT on silver in the UK is ridiculous. 

[MergingCultures]

7 minutes ago, James32 said:

So the average selling price of generic 1oz coins currently on the forum is £24... so that's a premium of £6ish and usually falls within them parameters since I've been on here. Go a £1 back to keep safe realistically. 

 

This is what I was looking for, thanks

[James32]

Just now, MergingCultures said:

Of course, but that's also not the point! If I needed to sell it (or the wife asks how much I've invested!), it's good to have an idea of premiums to charge.

VAT on silver in the UK is ridiculous. 

Average forum prices right now.

1oz silver coins £24

5oz bar £125

10oz bar £240/£245

Kilo bar £680/£690

So everything under a kilo trades at £24/£25 an oz

[modofantasma]

7 minutes ago, MergingCultures said:

VAT on silver in the UK is ridiculous

Agreed but if you're paying it don't ignore it when you're calculating your profit or loss. 👌🏽

[MergingCultures]

4 minutes ago, James32 said:

Average forum prices right now.

1oz silver coins £24

5oz bar £125

10oz bar £240/£245

Kilo bar £680/£690

So everything under a kilo trades at £24/£25 an oz

Looking roughly at 35%-40% premium. Cheers

[modofantasma]

11 minutes ago, MergingCultures said:

or the wife asks how much I've invested!

The royal mint have got your back on that one... Show her the obverse 

£2 each coin honey look

[SilverDrum]

5 hours ago, modofantasma said:

Say you bought £10k of shares last year and now they're worth £5k. Your cost is £10k but the market doesn't care and won't give you that for them. Equally if the shares are now worth £15k you can sell them for that, the market doesn't care that you paid only £10k

But what about the RRP?

[GoldDiggerDave]

Silver has not kept up with the price of biscuits in the supermarket and some how it's magically going to go to the moon and pay the mortgage off.     I'm thinking most will starve first.  

[Darr3nG]

2 minutes ago, GoldDiggerDave said:

I'm thinking most will starve first.  

Not if they've invested in biscuits!  

[GoldDiggerDave]

@Darr3nG   Silver/Custard cream ratio.