Newbie

[JHuntsMetals]

Hi all,

Looking for some advice here as a complete newbie.

So the price of silver is about c.£20 per ounce from what I can gather. However, I regularly see sales go for significantly over spot price (20-30%).

I understand Brittania coins/ Canadian Maples seem to hold some additional value. Am I being unrealistic thinking anything more than 10% over spot seems high? 

Is the price of silver just unrealistic at the moment due to current media attention. Will it return to normalcy once things calm down?

Also, how much would milk spots affect value of the silver? 

Sorry for all the questions. 

Thanks,

John 

 

[5huggy]

25 minutes ago, JHuntsMetals said:

thinking anything more than 10% over spot seems high? 

Is right!

25 minutes ago, JHuntsMetals said:

Is the price of silver just unrealistic at the moment due to current media attention. Will it return to normalcy once things calm down?

IMHO - it will come back a little - "HOWEVER" due to media "Hype" its likely to have come to the attention of a far wider audience and will remain elevated on the  FOMO effect (Fear of missing out)

27 minutes ago, JHuntsMetals said:

Also, how much would milk spots affect value of the silver? 

If its "bullion" grade then it maintains the "intrinsic value " of the metal - which is derived from the spot price and "AVAILABILITY"! (supply and demand can cause increase over spot! 😉👍

 

[LukeStacker]

Hello and welcome,

I, myself am also relatively new into the world of precious metals and you ask some really great questions. I am sure some of the more experienced people on here will be able to answer accurately. In my opinion, silver is all over the place at the moment with what people are charging. This could be because people bought a lot recently with all the hype and are wanting to ensure they at least get their money back or make a quick profit. Also, coins like Britannia are desirable all over the world and seen as a standard of bullion and so does attract a premium. However, in my limited experience you can always find a good deal if you wait around and don't rush into things. Have a look back in the forums sales posts and see what sort of prices things are flying out at, that will give you a good indication of the worth of things at the moment. People are snapping up Britannia's at £25 an oz. With milk spots, if you are stacking silver to unload years down the line this won't be an issue because the price rise by then should be enough that any marked down value due to condition is not a problem. However, if you are wanting to flip quickly then condition is everything. For me it is all about weight as close to spot price as possible, with the odd desirable coin thrown in that I am prepared to pay a premium for because I personally really want that coin.

Hope that helps, but I have so much to learn myself and the people on hear are great.

[5huggy]

16 minutes ago, LukeStacker said:

Hope that helps, but I have so much to learn myself and the people on hear are great.

Totally accurate post buddy with some good analysis - the one's that get burnt /fed up are the quick in and outer's that get timing wrong - 

Best just be patient! IMHO

[JHuntsMetals]

Guys,

Thanks very much for your comments. Nice to know i'm not alone in my thoughts.

As you say i'll just bide my time and try be patient whilst learning a bit more about the market.

[5huggy]

4 minutes ago, JHuntsMetals said:

Guys,

Thanks very much for your comments. Nice to know i'm not alone in my thoughts.

As you say i'll just bide my time and try be patient whilst learning a bit more about the market.

[5huggy]

5 minutes ago, JHuntsMetals said:

Guys,

Thanks very much for your comments. Nice to know i'm not alone in my thoughts.

As you say i'll just bide my time and try be patient whilst learning a bit more about the market.

IF it Helps! we were ALL "NEWBIE's" once 😉👍

[LukeStacker]

22 minutes ago, 5huggy said:

Totally accurate post buddy with some good analysis - the one's that get burnt /fed up are the quick in and outer's that get timing wrong - 

Best just be patient! IMHO

Thank you, that gives me confidence I am learning to. HA