Silver Monitoring Thread £ (GBP) only.

[GoldDiggerDave]

5 minutes ago, Gruff said:

Don't I know it!  

Think yourself lucky!  🤣  100k of silver........It would be like lumping a corpse around. 

[flyingveepixie]

 

59 minutes ago, GoldDiggerDave said:

With cash isa's now offering 4.2% flat (cash in the bank) is looking far more attractive than silver..........And just think how much you will save on postage a year?  

I see comments from people on an almost daily basis on various youtube prepper channels advising to invest in silver as it's a sound investment and a great hedge against inflation. I don't know where this comes from and I never respond to the comments as I prefer these days to remain the grey man, but it's clear enough to see for anyone who can be bothered looking that silver as either an investment or a hedge is a rather pointless exercise, although those of us who do hold some of it in quantity continue to live in hope for the future...

Edited February 3, 2023 by flyingveepixie

[ZRPMs]

53 minutes ago, Gruff said:

Until you hit your £100k limit or is that just speculation at the moment from Hunt?

Currently, its only a recommendation from a think tank. but you can guarantee it's been seriously thought of. What they may do is set a larger limit and let inflation erode through time so as to not upset the middle class voters.

 

46 minutes ago, GoldDiggerDave said:

The very vast majority of silver stackers are buying and holding far less than 100k of silver.  

Currently £100,000 of silver would be just over 5,100 oz or with the VAT taken into account just under 4,300 oz. I think most silver stackers would switch to gold before they got that much. Storage alone I think would be an issue for most.

ISA's I think should be held along side and silver or gold. We all need cash at some point for bills. The only problem is how much. I suppose, from my perspective, I've looked at it from 3 need's. Immediate, soon (with in a week to a fortnight) then mid to long term. Cash For immediate, S&S ISA and PM's mid to long. To be fair there isn't a line where one comes in and another isn't used. They all blend into each other but I would say hold the 3 at a level that suits your personal needs.

[GoldDiggerDave]

4 minutes ago, ZRPMs said:

Currently, its only a recommendation from a think tank. but you can guarantee it's been seriously thought of. What they may do is set a larger limit and let inflation erode through time so as to not upset the middle class voters.

 

Currently £100,000 of silver would be just over 5,100 oz or with the VAT taken into account just under 4,300 oz. I think most silver stackers would switch to gold before they got that much. Storage alone I think would be an issue for most.

ISA's I think should be held along side and silver or gold. We all need cash at some point for bills. The only problem is how much. I suppose, from my perspective, I've looked at it from 3 need's. Immediate, soon (with in a week to a fortnight) then mid to long term. Cash For immediate, S&S ISA and PM's mid to long. To be fair there isn't a line where one comes in and another isn't used. They all blend into each other but I would say hold the 3 at a level that suits your personal needs.

Go on youtube and look at silver videos from 10 years ago......Silver to the moon!  2023 the rocket is not even on the launch pad and rusting away in a shed more like.      (I'm saying this in jest, so please take my comments with a big portion of sense of humour)  

 

 

  

[Silverlocks]

55 minutes ago, flyingveepixie said:

 

I see comments from people on an almost daily basis on various youtube prepper channels advising to invest in silver as it's a sound investment and a great hedge against inflation. I don't know where this comes from and I never respond to the comments as I prefer these days to remain the grey man, but it's clear enough to see for anyone who can be bothered looking that silver as either an investment or a hedge is a rather pointless exercise, although those of us who do hold some of it in quantity continue to live in hope for the future...

There are countries where the taxes aren't so punitive on silver, and stacking it makes sense. For example, the U.S. doesn't have VAT and premiums are low enough that it makes sense there, and there are any number of American silver stacking YT channels.  NZ and Oz don't have VAT (known locally as GST) on silver either and it's also fairly reasonable to do there.  With VAT on silver, stacking it isn't cost effective here in the UK, but folks are (I suspect) subject to a flood of American content on the topic.

[SidS]

1 hour ago, flyingveepixie said:

I see comments from people on an almost daily basis on various youtube prepper channels advising to invest in silver as it's a sound investment and a great hedge against inflation. I don't know where this comes from and I never respond to the comments as I prefer these days to remain the grey man, but it's clear enough to see for anyone who can be bothered looking that silver as either an investment or a hedge is a rather pointless exercise, although those of us who do hold some of it in quantity continue to live in hope for the future...

I never buy modern silver for that reason. I only buy historic coins with value beyond their intrinsic.

All of my silver is antique. Silver as pure metal, is a terrible store of value.

If you want to protect your wealth using precious metals, buy gold.

[ZRPMs]

29 minutes ago, GoldDiggerDave said:

Go on youtube and look at silver videos from 10 years ago......Silver to the moon!  2023 the rocket is not even on the launch pad and rusting away in a shed more like.      (I'm saying this in jest, so please take my comments with a big portion of sense of humour)  

 

 

  

My thoughts and ramblings also. If I come across as anything more than the village idiot. I just trying to fetch my caffeine levels back to normal. If I honest I think silver might be too utilitarian not to be manipulated for a lower price. (Just throwing a cat there for them pigeon's). Any who, third coffee coming up. 

[stefffana]

23 minutes ago, SidS said:

I never buy modern silver for that reason. I only buy historic coins with value beyond their intrinsic.

All of my silver is antique. Silver as pure metal, is a terrible store of value.

If you want to protect your wealth using precious metals, buy gold.

Silver flatware and cutlery is great to have. Reasons:

1. Can be bought now around spot.

2. Can be used daily offering you satisfaction.

3. Can be stored easily a big quantity in cardboard boxes in your shed, written "Kitchen" on box. Nobody will bother to check or steal them.

4. The value in time will increase. I think already were melted down more than 3/4 off the silver objects ever made. They are not mass producing anymore and I suppose the demand will be higher than now.

5. Can be sold easily. In bulk around spot, individually up to 50% over spot, depending of condition and quality.

 

[Darr3nG]

15 minutes ago, stefffana said:

Silver flatware and cutlery is great to have

[James32]

18 minutes ago, stefffana said:

Silver flatware and cutlery is great to have. Reasons:

1. Can be bought now around spot.

2. Can be used daily offering you satisfaction.

3. Can be stored easily a big quantity in cardboard boxes in your shed, written "Kitchen" on box. Nobody will bother to check or steal them.

4. The value in time will increase. I think already were melted down more than 3/4 off the silver objects ever made. They are not mass producing anymore and I suppose the demand will be higher than now.

5. Can be sold easily. In bulk around spot, individually up to 50% over spot, depending of condition and quality.

 

There's nothing kick starts the morning like..sitting down with your snaps- krukle and poops,to then realise you need to run to the shed to get a spoon.

[EdwardTeach]

54 minutes ago, stefffana said:

Silver flatware and cutlery is great to have. Reasons:

1. Can be bought now around spot.

 

Where can you buy silver cutlery at close to spot price? I want some.

[James32]

3 minutes ago, EdwardTeach said:

Where can you buy silver cutlery at close to spot price? I want some.

@stefffana is your man there.

[stefffana]

2 minutes ago, EdwardTeach said:

Where can you buy silver cutlery at close to spot price? I want some.

@arphethean have now for sale a high quality set for 8 persons. If you will read my comment on his sale thread, you will see it is silver at spot.😊

 

For smaller quantities, I have at the moment some, but are not sets at the moment.

[EdwardTeach]

4 hours ago, GoldDiggerDave said:

With cash isa's now offering 4.2% flat (cash in the bank) is looking far more attractive than silver..........And just think how much you will save on postage a year?  

I wouldn’t feel safe keeping a large amount of money in the bank anymore. With the general state of the global financial systems, massively indebted over leveraged banks and the new bail-in laws which allow them to steal your money if they need to it just doesn’t seem safe leaving money there anymore.

Edited February 3, 2023 by EdwardTeach

[EdwardTeach]

24 minutes ago, James32 said:

@stefffana is your man there.

 

24 minutes ago, stefffana said:

@arphethean have now for sale a high quality set for 8 persons. If you will read my comment on his sale thread, you will see it is silver at spot.😊

For smaller quantities, I have at the moment some, but are not sets at the moment.

Thanks guys.🙂

Good to know I can get silver cutlery on here. I'm currently saving for some 2022 Memorial Sovereigns at the moment but once I've bought them I'll be looking for some silver cutlery in a few months.

[GoldDiggerDave]

7 minutes ago, EdwardTeach said:

I wouldn’t feel safe keeping large amount of money in the bank anymore. With the general state of the global financial systems, massively indebted over leveraged banks and the new bail-in laws which allow them to steal your money if they need to it just doesn’t seem safe leaving money there anymore.

You get 100k today you are petrified of leaving this in the bank what do you do with it? 

 

[EdwardTeach]

1 minute ago, GoldDiggerDave said:

You get 100k today you are petrified of leaving this in the bank what do you do with it? 

 

Buy gold of course. 😁

[EdwardTeach]

.

Edited February 3, 2023 by EdwardTeach

[Silverlocks]

4 hours ago, James32 said:

There's nothing kick starts the morning like..sitting down with your snaps- krukle and poops,to then realise you need to run to the shed to get a spoon.

And then you realise that you're in the matrix because . . . there is no spoon.

[HerefordBullyun]

Silver is being proper bummed today

[Littlemac]

Buy the dip, if only premiums would drop as much.

[sixgun]

2 hours ago, HerefordBullyun said:

Silver is being proper bummed today

Exactly, the arse has dropped out of the market.

[timsk]

32 minutes ago, sixgun said:

Exactly, the arse has dropped out of the market.

Any thoughts as to why the sudden waterfall, sixgun?

Surprisingly, given all the economic woes, the FTSE 100 has surged ahead, reaching the May 2018 all time high. DXY has also ended the week strongly, which may account for the fall in silver? It's a bit of a confusing picture; one that I'm struggling to make sense of. That said, I feel that way about pretty much everything these days - nothing makes much sense to me!

😁

[sixgun]

34 minutes ago, timsk said:

Any thoughts as to why the sudden waterfall, sixgun?

Surprisingly, given all the economic woes, the FTSE 100 has surged ahead, reaching the May 2018 all time high. DXY has also ended the week strongly, which may account for the fall in silver? It's a bit of a confusing picture; one that I'm struggling to make sense of. That said, I feel that way about pretty much everything these days - nothing makes much sense to me!

😁

Gold was overbought - we have seen a strong push up with no pull backs - it was on the cards, it was just looking for an excuse. And of course when gold falls, silver will fall too. This Wednesday we had the FOMC (Federal Reserve) decision on the interest rates. They went up 0.25% as expected and the spin Jay Powell Fed Chair gave was enough for the market plus the usual suspects to sell down overbought gold - so that was the first waterfall dump.

Today the Non-farm Payroll (NFP) figures came out. They showed a really strong US jobs market and an unemployment level which hasn't been this low since 1968 (or there abouts i am not certain if that is the year but near enough). This beat all expectations by a long way and the people on Bloomberg were getting really excited this afternoon. The US economy is so strong they were saying and we are going to the Moon blah blah. Of course it is all fake. The US economy is collapsing. It was strong in the 1960's that was the last time Western economies were actually putting in real honest to goodness growth before everything went wrong in the 1970's when Nixon took the dollar off the gold standard and we went full fiat. Anyway the (fake) jobs' data was off the charts and it was good for the USD and so the market plus the usual suspects used it to dump gold. 
Forget FTSE - it has no impact whatsoever on gold, silver or even bubble gum cards

Edited February 3, 2023 by sixgun

[timsk]

50 minutes ago, sixgun said:

. . . Forget FTSE - it has no impact whatsoever on gold, silver or even bubble gum cards

Hi sixgun,

Thanks for the detailed reply - very informative! 👍

Your general assessment makes a lot of sense, bar the line I've quoted. This surprises me as silver is primarily an industrial metal. So, if the economy is shrinking and recession is looming etc, this impacts demand. Ergo, falling indices will, theoretically, have a negative domino effect on silver. Or am I missing something?