Silver Monitoring Thread £ (GBP) only.

[sovereignsteve]

Wish they'd go back to the way they used to make them; finish and different designs.

[HelpingHands]

2014 was still as shiny though I think.  Just not the dimpled look.

[Scuzzle]

I ordered 2x tubes of Britannias this morning since spot went down again when the markets opened,  £9.32 spot making the coins £12.24 each inc. the £9.99 postage and a £6 credit card surcharge.  I swore I was done with silver for now and my next purchase would be fractional gold, was thinking of getting 10x 1/10 gold Britannias with the order split into 3 lots to make the payments easier 3,3 and 4 but they will have to wait until next time as I just thought silver was the right price to be buying and gold might drop a bit yet.

[HelpingHands]

£9.29

[DRooster]

The lower the spot price goes, the higher seem the premiums  maybe they are based on +% +£, not just +%

[sovereignsteve]

The lower the spot price goes, the higher seem the premiums  maybe they are based on +% +£, not just +%

Think of the premium as a flat cost per coin in terms of designing, minting, shipping costs etc plus a profit for the mint, wholesaler and retailer.

So the cheaper spot goes, the higher the premium will seem.

[HighlandTiger]

The lower the spot price goes, the higher seem the premiums  maybe they are based on +% +£, not just +%

 

Think of the premium as a flat cost per coin in terms of designing, minting, shipping costs etc plus a profit for the mint, wholesaler and retailer.

So the cheaper spot goes, the higher the premium will seem.

 

It's posts like these that reinforces my opinions that I'm doing the right thing by buying allocated silver (premium free, VAT free, tax free, no delivery charges etc,) and not physical silver.

 

The only "premium" I pay is storage costs, which unlike costs associated with physical metals, my storage costs as a percentage actually goes down the more I buy.

[Danny-boy]

On the flip side though, you don't hold it and you only get spot profit, and forfeit any "numismatic" potential.

If I had bought allocated, I would have been in a massive hole right now. I started buying just after the peak at around £25/oz spot.

As it stands, I have liquidated around 75% of my silver coins and walked away, after fees and shipping, with just over a 10% profit.

All I'm saying is, even with the premiums and charges, it's still possible to turn upside with physical notwithstanding a huge drop in spot.

Buy smart, but the right items at the best price you can and you may be in a better position if you bought physical over allocated.

Just giving an alternative view.

[Scuzzle]

I've come to the conclusion that there is only 'so low' a dealer can sell a coin for, I watched coin prices drop along with spot but there does appear to be a lower limit that they have to stop at.

 

Edit -  Theory reinforced, I ordered from STG a couple of days ago and today with spot over 30p lower the same order is not 30p a coin cheaper the entire order is £1 cheaper in total.

Edited August 26, 2015 by Scuzzle

[HelpingHands]

I've come to the conclusion that there is only 'so low' a dealer can sell a coin for, I watched coin prices drop along with spot but there does appear to be a lower limit that they have to stop at.

Get your guess in. No prizes just bragging rights.

https://thesilverforum.com/topic/1960-guess-the-physical-floor/?hl=%2Bguess+%2Bthe+%2Bphysical+%2Bfloor

[HawkHybrid]

http://www.gold-eagle.com/article/gold-juniors%E2%80%99-strong-financials

 

many of the all in sustained cost(aisc) are for

q2 which should already include much of the

drop in the oil price to $40-$60. production is

millions of ounces per quarter with break even

for some at ~$14.5.

 

HH

[HelpingHands]

9.22. The lowest back in Nov was 9.23 as far as I'm aware.

[HelpingHands]

9.18

If this shoots back up before payday somebody will be in trouble.

[Paul]

I wonder if it will go below £9 per oz this month ??

Edited August 26, 2015 by Paul

[DRooster]

This looks like a 6-year low on the graphs I'm looking at.

[Paul]

GSR of

724.64 / 9.18 = 78.93 : 1

[silversword]

Wow, just looked at the spot price for the first time today. Looks like it has literally fallen off a cliff!

[Danny-boy]

I wonder if it will go below £9 per oz this month ??

I'd say so, it just did!!!!

[KDave]

£9.10 an ounce right now. Bounced of the $14 line a few minutes ago. 

[HelpingHands]

I'd say so, it just did!!!!

I missed this. What did it go down to?

[Danny-boy]

I missed this. What did it go down to?

£8.97 on my chart.

[Cully]

£8.97 on my chart.

I can see that monster box looming

[Danny-boy]

I can see that monster box looming

If only!!!

[HelpingHands]

If only!!!

Especially if your other option is a tube of sovs.

[Pete]

According to www.preciousmetals.com silver is forecasted to fall in the next few months to $8 per ounce ( £5.23 ).

That really really ... hurts !!