Silver Monitoring Thread £ (GBP) only.

[KDave]

This is it. Silver in the hand is harder to make gains on because of the massive spread, but if the price goes down over a long period you lose nothing unless you choose to sell or need/forced to sell. With vaulting, if the price falls you are effectively forced to keep buying until the price rises enough to cover your stake plus charges, or else see the capital value is eroded over time by those charges. Hypothetical scenario - buying silver once in falling markets and just holding it in a vault, over a long enough time frame you would pay twice over for your silver in charges and see a real capital loss on top. Its far easier to make money on silver this way when the market is going up though of course.  

Depends on your time frames I guess, personally a small amount of physical silver is enough to speculate on the price over an indefinite time line. I feel this is safest way to invest for me personally. Vaulting on the other hand I see as a kind of leveraged play, as the charges represent the cost of making the initially cheaper bet the price is going higher, and if it doesn't your losses are not only paper capital but also real future charges. The only way to avoid a real loss in this situation is to keep buying consistently until the price rises again. I would rather pay once to take a position and hold, rather than commit to potentially buying one asset continuously over a long period. Opportunity cost is also a factor to consider in a falling market if you do commit to buying one asset until it recovers and don't cut your losses. Could be wrong here chaps but this is how I am seeing it. 

[vand]

Good luck if you want to buy flatware. I seem to remember than it was acutally ME who piqued recent interest in eBay flatware, at least most recently, so I consider that I've done my homework.  Personally I found that it I was not really willing to invest the time and energy getting into bidding wars on ebay. Everyone's time is ultimately worth a lot to them.

If you are buying/selling vaulted silver without any intention of ever taking delivery, is it really any different to placing a spreadbetting on it? At the end of the day you will never see an oz of the metal, yet one is 10 times cheaper.

There are many ways to gain exposure to silver. Having a long term strategy and picking whatever one holds the most interest to you is ultimately how you will do best from the bull market in my opinion. And the biggest mistake is to think that there is only one "best way" to do it. I own physical. I own some flatware, and I also spreadbet both long and short!

 

[Danny-boy]

But of a jump there to over £14/oz.

Anybody know the cause of the 3% rise?

[rebnah]

2 minutes ago, Danny-boy said:

But of a jump there to over £14/oz.

Anybody know the cause of the 3% rise?

No but £15oz would be fantastic lol

[Scuzzle]

I'm happy, my stack average is £13.80 so all that extra premium I paid for getting my lump of silver pressed into a coin shape and then having an animal stamped on it is now covered.

[Danny-boy]

I'm happy, my stack average is £13.80 so all that extra premium I paid for getting my lump of silver pressed into a coin shape and then having an animal stamped on it is now covered.

I'm at £12.08 for 825oz, which includes pandas / britannias and loads of Perth mint stuff.

It's nice to be in profit isn't it!!!!

[HelpingHands]

Possibly due to the BofE mentioing the possibility of more stimulus.  

[Danny-boy]

Possibly due to the BofE mentioing the possibility of more stimulus.  

Yes, I just read that on sky news.

Cheers HH

[HawkHybrid]

pms in $ is mostly flat. £ is dropping against $.

mark carney should be stabilising the £, way to go

to get that effect.

 

HH

[Roy]

Bring back capitalisation, I say! 

[rebnah]

I'm at 750 oz so I'm happy too but if it keeps rising it will be the cherry on the cake.

 

[Roy]

58 minutes ago, rebnah said:

I'm at 750 oz so I'm happy too but if it keeps rising it will be the cherry on the cake.

 

@£12.08/oz?

[rebnah]

4 minutes ago, Roy said:

@£12.08/oz?

?

[Roy]

What is your cost per oz?

[Cornishfarmer]

3 hours ago, Danny-boy said:

I'm at £12.08 for 825oz, which includes pandas / britannias and loads of Perth mint stuff.

It's nice to be in profit isn't it!!!!

This is what I said to wife on Friday about my gold she said 'you're not going to sell so the price makes no difference'.      Blooming women they think of everything!!!

[HawkHybrid]

33 minutes ago, Cornishfarmer said:

This is what I said to wife on Friday about my gold she said 'you're not going to sell so the price makes no difference'.      Blooming women they think of everything!!!

 

surely that depends on whether selling will bring you

closer to something like owning your own home?

there could be a time when the price does make a

difference.

 

HH

[sovereignsteve]

1 hour ago, Cornishfarmer said:

This is what I said to wife on Friday about my gold she said 'you're not going to sell so the price makes no difference'.      Blooming women they think of everything!!!

You could always sell and buy more land or cows

[LongJohnSilver]

Just broke $19

[StinkyLebinowitz]

I started in early May this year. I bought some stuff from Ebay and paid too much. Then I paid some strong premiums on some other stuff. Finally got it kinda figured out the last couple-3 weeks or so. As of right this moment, I am $.23 an ounce, on 103 ounces, to the good.

Sorry but that's just wrong !!!! There's no way my newbie mistakes should be covered this quickly !!!

But...... I'll take it. 

[HighlandTiger]

17 hours ago, vand said:

Good luck if you want to buy flatware. I seem to remember than it was acutally ME who piqued recent interest in eBay flatware, at least most recently, so I consider that I've done my homework.  Personally I found that it I was not really willing to invest the time and energy getting into bidding wars on ebay. Everyone's time is ultimately worth a lot to them.

If you are buying/selling vaulted silver without any intention of ever taking delivery, is it really any different to placing a spreadbetting on it? At the end of the day you will never see an oz of the metal, yet one is 10 times cheaper.

There are many ways to gain exposure to silver. Having a long term strategy and picking whatever one holds the most interest to you is ultimately how you will do best from the bull market in my opinion. And the biggest mistake is to think that there is only one "best way" to do it. I own physical. I own some flatware, and I also spreadbet both long and short!

 

Not sure you were the one who piqued my interest in flatware on Ebay, considering I've been buying flatware since June 2014 and you joined the forum a few months ago. And I think there are only a few people on here who are into flatware solely or have a high percentage of their stack like me . Regarding time and energy, Well I have a budget per month  to spend on flatware, I choose a certain day in the week, along with a certain time, in order to quickly peruse ebay, I have a carefully worded search parameter, which narrows down my choices. I have a maximum fixed price I will pay. It takes me less than 10 minutes to go through the days auctions, and find ones that fit within my criteria (which is usually around 5 or 6), and I have a timer to remind me when the auction is about to finish. Invariably I'll win one of those auctions. I then forget about ebay for a few weeks, and then repeat the cycle. I spend more time reading the paper every day than I do picking up under spot silver. I also have a deal with my local cash for gold guy, who is keeping back any decent silver pieces for me. Should be picking up some silver cups this weekend, (if he remembers to bring them to the market), for spot value. These will be going on ebay if they are in good nick, as they can command up to £1 an oz or more on there.

With regards to spreadbetting. Well there is major difference between vaulted pm's, and spreadbetting. If the price goes down when spreadbetting, you actually lose cash. If the price goes down if you have vaulted pm's. you lose nothing. You only lose money if you decide to sell at a lower price than you bought it at. However my thoughts on spreadbetting is this. It is by far, the worse form of gambling, ever devised by the gambling industry for punters, and spreadbetting companies rake in huge amounts of money. Mainly because markets cannot be predicted as punters like to think they can, and markets always fall more than punters think they will and rise less than the punters think it will, (human nature I suppose) , meaning they always lose more than they thought they would, and win less money than they thought they would. Some people may call people who try to make money through spreadbetting "brave", I have another word for them.......but I won't be saying what it is. But then again, you all know my thoughts on gambling

 

But as I've said before. Each to their own. Everyone will have different strategies, depending on finances, their age, their exit strategy etc etc. None are right nor wrong. Although some are certainly more riskier than others.

[HighlandTiger]

21 hours ago, KDave said:

This is it. Silver in the hand is harder to make gains on because of the massive spread, but if the price goes down over a long period you lose nothing unless you choose to sell or need/forced to sell. With vaulting, if the price falls you are effectively forced to keep buying until the price rises enough to cover your stake plus charges, or else see the capital value is eroded over time by those charges. Hypothetical scenario - buying silver once in falling markets and just holding it in a vault, over a long enough time frame you would pay twice over for your silver in charges and see a real capital loss on top. Its far easier to make money on silver this way when the market is going up though of course.  

Depends on your time frames I guess, personally a small amount of physical silver is enough to speculate on the price over an indefinite time line. I feel this is safest way to invest for me personally. Vaulting on the other hand I see as a kind of leveraged play, as the charges represent the cost of making the initially cheaper bet the price is going higher, and if it doesn't your losses are not only paper capital but also real future charges. The only way to avoid a real loss in this situation is to keep buying consistently until the price rises again. I would rather pay once to take a position and hold, rather than commit to potentially buying one asset continuously over a long period. Opportunity cost is also a factor to consider in a falling market if you do commit to buying one asset until it recovers and don't cut your losses. Could be wrong here chaps but this is how I am seeing it. 

I actually see vaulting different to yourself. I actually see it as a savings plan. If you are spending every month a fixed amount of money on PM's, then buying pm's from a vaulting company is much better than buying generic silver coins, and better probably than semi numis as well. 

If you spend £100 a month with Bullion vault, you will pay around £5 a month in vaulting fees, so you will spend £105 per month, an equivalent premium of 5%.

If you spend £100 a month on coins, you will pay between 20% and 25% premium, plus around 5% equivalent on postage costs.

Vaulting is a far far cheaper way of keeping silver. (I havn't even gone into the costs people incur keeping silver at home. Insurance, safes, capsules, cases etc)

The exit situation is also far better with vaulting as well. Money back in an instant, no having to drive to dealers to off load, nor spending hour upon hour selling through ebay.

I have two strategies when it comes to silver. I class my Bullion Vault account as my Silver Current Account, and my silver flatware stuff as my Silver Savings Account.

But of course, for both to succeed in maximising value, I need silver to orbit the moon, currently that rocket is being warmed up nicely.   

[HighlandTiger]

14 hours ago, Danny-boy said:

I'm at £12.08 for 825oz, which includes pandas / britannias and loads of Perth mint stuff.

It's nice to be in profit isn't it!!!!

Even with my expensive load of proof silver rubbish , my entire gold and silver stack is also in profit, (enough for a small holiday if so inclined) 

[HighlandTiger]

13 hours ago, HawkHybrid said:

pms in $ is mostly flat.

errrrr are you sure? 

Gold in $ is up nearly 3% in the last fortnight, and silver is up nearly 10% in the same time period. If that's flat, gawd knows what it'll look like if it takes off. We'll have passed the moon and be heading towards Pluto.

Edited July 1, 2016 by HighlandTiger

[DRooster]

The graph looks quite exciting.

I'm tempted to sell little bits and bobs, but in two minds about the best way of going about it.
 

[rebnah]

2 minutes ago, DRooster said:

The graph looks quite exciting.

I'm tempted to sell little bits and bobs, but in two minds about the best way of going about it.
 

I'm new to all this so most will probably disagree?

I had about 15k in gold so while I could I've been offloading all my gold for a tidy profit since Brexit.

my reason for this is:

I had a lot of funds tied up in gold And while I can make a profit and not a too shabby one per oz I feel that I will collect while I can.

I also wonder how much higher it can go?

Ive got 1000 1oz silver Britannia's and over 100 2oz queens beasts I've also started stacking 1oz, 5oz and 10oz bars.

I think silver has got much better chance of growth in the future as its been low for so long.

Removing my gold I have a lot more funds available hopefully for bigger gains but with a smaller

investment?

I know it will or could take longer but I enjoy spending and with silver much lower than gold I can shop for longer.

just my personal opinion.