Silver Monitoring Thread £ (GBP) only.

[jayboat]

I ready to place an order right now with goldsilver and they have just added the canada superman silver coin as comming soon are something, they have a price but no add to basket option. 

To my point, if the UK vote out (which i hope it does), my coins will get a little more expensive due to the expected drop in sterling. So im checking in the mornings and evening to see if i can order 1. Just 1, i refuse to buy any more than one of any canadian coin due to milk spotting. Personally i dont care, silver is silver but my future buyers may care. 

If its not released by Wednesday evening, im placing my order and i'll get it next time round  

 I JUST WANT IT NOW 

[Aoutp]

What exactly drives the prices down at the moment ? I struggle to understand how the fundamentals (supply/demand, metal rarity etc...) are explaining the current prices. 

[vand]

29 minutes ago, Aoutp said:

What exactly drives the prices down at the moment ? I struggle to understand how the fundamentals (supply/demand, metal rarity etc...) are explaining the current prices. 

If you mean the largish drop on Monday then that was purely GBP strength, thus everything priced in USD getting cheaper. 

GBPUSD now $1.47. Dragged itself off its nadir of around $1.37 earlier this year.

[vand]

Er, so.. did we touch £13?

[jayboat]

5 hours ago, vand said:

Er, so.. did we touch £13?

When i got up for work this morning at 4.30am, the price on atkinson's was £13.26. I woke the wife up and everything when getting my clothes on, lmao. I'm explaining to a half sleeping women that our stack is worth (in fiat)  X amount more today compared the yesterday but she is more concerned about the voting result and whats gonna happen, 

[Paul]

5 hours ago, vand said:

Er, so.. did we touch £13?

It hit a peak of £13.74 at around 04.50am according to BBP's charts

[vand]

Currently

Silver £13.27
Gold £984

In my view, the price action we are seeing in the days following Brexit and the sustained move above key levels is much more telling than the initial spike that happened in the hours of the Referendum count. Normally when a market has a knee-jerk reaction it can mark a short-term top and then we head back down lower for a period of consolidation, but that doesn't seem to be happening this time.

While I'm personally sitting on my hands for now, the longer it goes on the more it will just look like a catalyst on the way to much higher prices in the medium/long term. I'm happy that I've been stacking hard for the last few months, but I I'm sure not the only one who, no matter how many oz your hold, wishes that he owned more!

[ApisMellifera]

I'm still in stacking mode to build up my 'reserves'

[Vern]

Silver £13.43

Gold £1005.08

[HelpingHands]

Brits £18.78 at STG

You might need to bring back 'Maple Watch'  @HighlandTiger

...or maybe the Sterling version.  'Spoon Watch' ?

[vand]

Worth taking a breather and looking how far we've come just year alone:

 

Silver 31st Dec 2015: £9.32

Silver today: £13.40

 

That's a 43.7% increase YTD.

If stocks were doing that they'd be swinging from the rooftops on Wall St.

Edited June 29, 2016 by vand

[HighlandTiger]

12 minutes ago, vand said:

Worth taking a breather and looking how far we've come just year alone:

 

Silver 31st Dec 2015: £9.32

Silver today: £13.40

 

That's a 43.7% increase YTD.

If stocks were doing that they'd be swinging from the rooftops on Wall St.

It's a shame none of us were buying an ounce of silver at that price. Most people buying coins or semi numi stuff, are just about breaking even at best when comparing buying prices to scrap prices. 

[vand]

19 minutes ago, HighlandTiger said:

It's a shame none of us were buying an ounce of silver at that price. Most people buying coins or semi numi stuff, are just about breaking even at best when comparing buying prices to scrap prices. 

 

Well I'm pretty sure that some of us (not me alas) were buying silver for below that price, as there was ample opportunity to do so throughout 2015.

And true, you can't buy Eagles or Brits at spot and never have been able to, but I'm pretty sure that anyone selling them at the moment is getting much better than spot on the secondary market anyway. If you are buying coins and then selling back to dealers for the spot then you are not doing it right.

 

[KDave]

HT is right. On paper I am only up 4.64% on the small amount of silver I own and that is not counting the postage and selling spread to a dealer so I will be break even at a guess. I did catch some silver when it was 9.77 an ounce - had to pay 12.35 an ounce for some 2 oz turtle coins from STG, they were the cheapest they had per ounce at the time. Other people have better averages than me, even so I bought all of my silver when it was below £10.90 an ounce, the premiums are just a killer even for basic bullion.

On paper the physical gold I have is 17.43% up before accounting for any selling spread/postage and I have even bought a few coins recently. I am still confident silver will outperform gold in the right circumstances but just goes to show the difference between the two metals from a UK bullion investing perspective so far.

[Paul]

Remember folks............................

 

 

[KDave]

Just now, Paul said:

Remember folks............................

 

 

Im definitely feeling the skepticism when it comes to silver 

[Paul]

It took a lot of willpower to pull the trigger on buying at the lows on silver

I bought x100 oz of silver in GoldMoney account at £9.71 which has helped bring my £ cost average down.  Which I am now pleased with now

As HT says, if i had been buying semi limited fancy animal embellished silver or filling gap years, even even with these 25+% gains in silver spot, I would still be just about breaking even

[HighlandTiger]

It's a shame none of us were buying an ounce of silver at that price. Most people buying coins or semi numi stuff, are just about breaking even at best when comparing buying prices to scrap prices. 

 

Well I'm pretty sure that some of us (not me alas) were buying silver for below that price, as there was ample opportunity to do so throughout 2015.

And true, you can't buy Eagles or Brits at spot and never have been able to, but I'm pretty sure that anyone selling them at the moment is getting much better than spot on the secondary market anyway. If you are buying coins and then selling back to dealers for the spot then you are not doing it right.

 

But are you getting 43% more today on your semi numis and government rounds than you were when you bought them?

Not a hope in hell

[vand]

If premiums were the only thing that mattered then no one should buy smallcap or AIM shares by the same argument.

Don't lose sight of why you buy silver - it is better to pay a 20% premium on something you think will go up 500% than a 5% premium on something that you think will go up 200%. That's just maths.

 

 

 

36 minutes ago, HighlandTiger said:

But are you getting 43% more today on your semi numis and government rounds than you were when you bought them?

Not a hope in hell

I'm buying, not selling, and I can assure you that my fiats don't buy as many ounces at they did on Jan 1st.

Hey, try selling some of your spoons and let us know how you get on after Ebay and paypal have taken all their fees!

Edited June 29, 2016 by vand

[HighlandTiger]

If premiums were the only thing that mattered then no one should buy smallcap or AIM shares by the same argument.

Don't lose sight of why you buy silver - it is better to pay a 20% premium on something you think will go up 500% than a 5% premium on something that you think will go up 200%. That's just maths.

 

 

 

But are you getting 43% more today on your semi numis and government rounds than you were when you bought them?

Not a hope in hell [emoji6]

I'm buying, not selling, and I can assure you that my fiats don't buy as many ounces at they did on Jan 1st.

Hey, try selling some of your spoons and let us know how you get on after Ebay and paypal have taken all their fees!

Lol I have sold several spoons and other flatware in the last week or so. Even after fees and postage I was getting more than spot value. In fact 99.9% of flatware on ebay is sold for well over spot. I'm buying the 0.1% that isn't.

We all have our strategies. I just think that for my purposes I am on the right track

[Pipers]

Well I I bought in 2014 and 2015 after a lot of hating silver and saying so on this site, i bought enough to just balance my portfolio. The thing is STG had libertads cheap before they were pumped to high heaven and I picked up for £13.25 per oz and Philis for £11.80 per oz. 

I can make money on them. In the whole Silver coins and bars in the hand the margins are just to high to make money on, i don't mean £20 here and there, a move like we have had in the precious metals should mean we are all quids in but some are not. this should be a wake up call for all metal buyers!!!! 

I myself have been buying copper from the scrap yard at 1.5% above fix  for the last year 

[HawkHybrid]

hold insurance in hand(physical gold/silver). things that you

plan to flip on market fluctuations should be lowest premiums

and most liquid, eg paper pms and junk. the risk on low

premium silver is you must get it right or there's a long wait

before you're in profit. those who bought junk silver in 2011

have some waiting before breaking even. your buying

preference and volume should be determined by your strategy.

 

HH

[vand]

Yes. If your are trading/flipping silver/gold, then do it via the paper market (and pay 0.2% spread rather than 20%). I sometimes do myself.. I would say that if you are tempted to sell for less than a 50% (upside) move then you should be doing it by paper rather than physical. Silver can easily do that - it has already done so since mid Dec. @Pipers is quids in

We are currently at 3yr GBP highs for silver. If that's not a bull market then I don't know what is. Remember that bull markets run higher than further than nearly anyone thinks they can (even/especially the early "smart money" participants who usually end up selling way too early).  This party's just getting started. When it's done you or I won't care too much if we paid £10, 12, or £15 for our coins, because the fiat price will be so high it will that we will all curse that weren't remortgaging our houses to buy it while it was so relatively cheap.

 

 

 

18 hours ago, HawkHybrid said:

hold insurance in hand(physical gold/silver). things that you

plan to flip on market fluctuations should be lowest premiums

and most liquid, eg paper pms and junk. the risk on low

premium silver is you must get it right or there's a long wait

before you're in profit. those who bought junk silver in 2011

have some waiting before breaking even. your buying

preference and volume should be determined by your strategy.

 

HH

 

[vand]

23 hours ago, Paul said:

Remember folks............................

 

 

 

I like this version because it includes the classic "bull" and "bear" traps.

 

 

 

[Pipers]

1 hour ago, vand said:

Yes. If your are trading/flipping silver/gold, then do it via the paper market (and pay 0.2% spread rather than 20%). I sometimes do myself.. I would say that if you are tempted to sell for less than a 50% (upside) move then you should be doing it by paper rather than physical. Silver can easily do that - it has already done so since mid Dec. @Pipers is quids in

We are currently at 3yr GBP highs for silver. If that's not a bull market then I don't know what is. Remember that bull markets run higher than further than nearly anyone thinks they can (even/especially the early "smart money" participants who usually end up selling way too early).  This party's just getting started. When it's done you or I won't care too much if we paid £10, 12, or £15 for our coins, because the fiat price will be so high it will that we will all curse that weren't remortgaging our houses to buy it while it was so relatively cheap.

 

 

 

 

Hi @vand

I was talking about Silver in the hand not Gold.  Gold can be bought in the UK for 3-4% above spot/fix plus delivery a good buy full stop.  

Silver on the other hand is a different story, unless buying flatware (can be had around spot) .  Until 18 months ago the cheapest i could get silver for was 19% above spot plus delivery now well the last time i looked  its 21% plus delivery.  When you sell the delivery costs are higher than gold too; unless you only sell a few coins at a time.  

I was talking about allocated (pooled) silver Goldmoney, Bullionvault,  not paper silver eg , if one was to buy silver at £10 an ounce with fees then sell at £13 for £2000  there is no delivery charge there is a buyers charge and holding charge costs are a lot less than holding Silver in the hand.  The act of selling is easy to, one can sell at the price I want on the spike or buy on the dip,  no going down to the post office at dinner time, waiting for a bite at the price you need.  

The down side is if the price goes down you lose!! There is no getting out of it, no its a nice coin or bar there are charges every year to hold the metal in the vault!!