Should I sell already?

[spoon]

Hello one and all....I am one of those suckers that got sucked in by the recent hype about silver going to the moon. I purchased 136oz of coins and bars  but I failed to do my research and it seems I have invested at the top of the market. I am not sure whether  to cut my losses which would be around a £1500 loss or wait for a long time to recoup my money. I do really like the silver I have purchased but I just wish I had purchased it at a more reasonable rate. I just wanted to ask what the general consensus is regarding the future price of silver. All the info on silver going to $50 seems to be from people selling silver that have a conflict of interest so I thought I would ask you guys what your thoughts wer. Do you think silver will actually go to $50 or is it more likely to drop down to previous levels of $11. I understand you can not give financial advice but any opinions would be greatly appreciated. Thanks 

[mrrick]

@spoon

have faith , i'm a fellow retard that bought at the top in 2011 , if you dont need the money , be patient and wait for a little bit of time for the fundamentals to play out 

[ChrisSilver]

@spoon I have moved your question to a new topic as it will invite discussion. You may wish to change the topic title by editing your post.

It may be good to introduce yourself in the 'Welcome new members' section.  

[Spence098]

If you don't mind me asking how high of the top end did you buy into.

Personally I would hold out if you can afford to if not then try to sell it for as high a price you possibly can and hope you don't loose to much.

Best of luck with it hope you don't get stung to badly 👍

[CollectForFun]

£1500 loss from buying 136 oz? That's quite a lot, no? How did you calculate that? Did you use your dealer's buy-back price? They tend to be extremely unfavourable compared to prices you can achieve if selling here for example.

[spoon]

Hi guys Mrrick that was funny yes I am a retard of the fellowship....glad to meet a fellow member.

 

Hi spence I purchased my lovely silver on the recent mad weekend of sat 30.1.2021.

I purchased

1. Two 1kg metalor bars  for £700 each plus vat.

2. a very nice 1kg lunar ox coin for £720 plus vat.

3. 10 1oz brittania for £25.50 plus vat.

4. 10 2oz queens beast Richmond greyhounds for £51.30 plus vat

5. 10 american eagles for £25.50 plus vat.

Thanks for the replies and I am learning towards keeping them to see what happens as I already have an emotional connection to them. I feel like gollum from lord of the rings my precious metals. The fundamentals show that silver is way undervalued but as you guys know it seems that does not matter as dark forces are at play manipulating the market. Will this ever change? I am not sure but for the mean time I am enjoying looking at it. Both replies have said you would keep it and I think this is what I will do. Thanks guys 

[Robda1986]

If you can afford to hold onto you silver do so I doubt very much we have seen its peak and honestly from what I've seen in the last few days physical is only going in 1 direction bullion dealers are struggling to sauce the raw materials I posted a link in the pm's section the other day called 1000 oz bars I'm honestly thinking we'll see a separation of the paper and physical prices as they are so far out of wack its stupid now 

[Spence098]

Ahh yea....you see mate its the VAT on silver that kills you !!!! Its better to look to buy silver on the second hand market you won't pay any VAT and now cant add VAT when you are looking to sell on mate

[Spence098]

For future purchases look to buy on here mate or I know some look to ebay but im not a massive fan. You have some fantastic dealers selling at great prices on the forum amongst every one else trying to compete with their prices 😂

For future like you said your self do your homework and figure out what is right for you. Lots of great videos on YouTube to see whats happening and read the threads on the forum. Some very clever people on here talking about stuff that we may not understand but you can definitely learn from.

All the best mate.

Joe.

[sixgun]

Unfortunately it is plus VAT for many buyers in the UK these days.
Are you getting the prices you could sell at from a dealer? i can only think you are b/c you claim you have lost £1500 on 132 oz. That's a loss of £11/ oz. So the prices you think you could get are ridiculously low.

You appear to have paid what are retail prices in the dealers and then looked at buy back prices.
You could sell for better prices here than it seems you have been offered.
This is the start of your stack. 
Don't sell to dealers if you can avoid it - you won't get the best price. 
Keep stacking - buy off this forum - it is a good place to buy.
If you want the better deals you will need to get a premium membership and then you see the offers as soon as they are posted.
i have silver forum open all the time and when items appear the computer makes a noise as i have set it to get notifications from the sellers.

 

 

[spoon]

Thanks for all the replies and yes my figures are based on the dealer buy back prices. If I do need to sell then I will take the advice and sell via this forum. I will take out the premium membership if I need to buy or  sell as that is obviously a good idea. In the meantime I will be lurking around the forum in order to educate myself about this mysterious shiny stuff. At least i will have something to bargain with incase of the zombie apocalypse or a pandemic....I am convinced it wont be long until tesco are accepting real money! If things get much worse we could all meet up and form the silver army.

[Arganto]

Make a lovely shiny chair from that wonderful silvery stuff and rest upon it as you make your next several purchases of gold. Sketch out a mental plan that is affordable for you in fiat debt notes and whatever else is in your wheelhouse  and don't overstretch past a projected point if you can help it. Have at least half an idea of how you're going to off-load your metal should you need to, but unless you intend to earn currency by flipping the stuff aim to keep it as a hedge against fiat collapse, zombie apocalypse or any other fun scenario that makes the way the modern world economy is being run seem less worrisome in your mind-sac. Buying silver is fantastic without the tax man stealing from you, buy from here and avoid that bumpoo.

You leaped before you looked, but many do. You can use this as a lesson for yourself and grow from it. The best thing is you didn't get totally shafted as you still have a nice pile of stuff that even with theft, sorry VAT, accounted for will likely have more buying power against commodities and property than any dollar, pound, euro or Nuka-Cola bottle cap will in a few years time.

Welcome to TSF, it really whips the Llama's ass.

 

*This is not financial advice, I am a nobend, don't sue me etc etc 

[Connor]

2 hours ago, spoon said:

Hi guys Mrrick that was funny yes I am a retard of the fellowship....glad to meet a fellow member.

 

Hi spence I purchased my lovely silver on the recent mad weekend of sat 30.1.2021.

I purchased

1. Two 1kg metalor bars  for £700 each plus vat.

2. a very nice 1kg lunar ox coin for £720 plus vat.

3. 10 1oz brittania for £25.50 plus vat.

4. 10 2oz queens beast Richmond greyhounds for £51.30 plus vat

5. 10 american eagles for £25.50 plus vat.

Thanks for the replies and I am learning towards keeping them to see what happens as I already have an emotional connection to them. I feel like gollum from lord of the rings my precious metals. The fundamentals show that silver is way undervalued but as you guys know it seems that does not matter as dark forces are at play manipulating the market. Will this ever change? I am not sure but for the mean time I am enjoying looking at it. Both replies have said you would keep it and I think this is what I will do. Thanks guys 

Nevermind, my maths were way off 😂 I think you have spent about 630 on VAT all together is that right?

[Spence098]

I'm sorry and please correct me if I'm wrong but if he's bought QBs at £51.30+20% VAT that would total £61.56 each... if he sold them at £55 he would be selling at a loss no ?

And the same would go for everything else you have listed ???

[spoon]

Yes Liam I did leap before I looked and as you said I will learn from this and already have......wise words indeed. Like connor has stated if I sell the shiny on here I will lose 630 at the most not 1500 as I stated. A small part of me is saying sell it now but a much bigger part is saying keep it and see what happens and that seems to be the general consensus so that is what I will do.  It's all fun and games and at least I have some new friends to harass...I mean talk to.

[spoon]

I could be wrong but as I understood it connor was saying that I would still make a loss if I sold them on here for (630) but just not as much of a loss as I would if I sold them to a dealer (1500)....although I could just sell them with an indefinite  delivery date as some dealers do as that seems to be very profitable....joking obviously.

[Spence098]

I personally think at the moment with the high demand you could sell for close to what you paid on most of the items.....but who knows just got to find the right buyer on the day....  

[Spence098]

Yep re read what Connor said and he is right i think 👀😂 

[Arganto]

🎉🎉Woot!🎉🎉

 

Seriously though, it's nice to have support but once the 'oh dear' butterflies settle, which they will, you'll be able to work stuff out nicely for yourself. This is a great forum for everything PM but also a great crew of keyboard pounding cohorts. 

 

Now a warning: If you think silver is alluring your first lump of gold will propel you back 20,000 years, shrink your amygdala to the size of an atom, connect you with the maker and transcend your consciousness past the outer most reaches of what is possible whilst still tethered to the human form. 

Or at the very least make you go 🤤

[Arganto]

Usually this is where @5huggycomes in with some ancient Minion wisdom...

[spoon]

Yes Spence I think that you are correct...if the supply stays limited at the dealers I could probably sell for close to the price I paid for them. The question is will the price go up or down in the near future. Anyone have a crystal ball? Or just a guess?...but of course if I new that I wouldn't be driving a vauxhall zafira. 

Stop it Liam you just want me to sell my silver  and join the dark side. I was wondering though if I did buy gold what are the pros and cons between buying 1oz gold sovereigns vs 1oz gold Britannia?

Thanks

 

[Connor]

22 minutes ago, Spence098 said:

I'm sorry and please correct me if I'm wrong but if he's bought QBs at £51.30+20% VAT that would total £61.56 each... if he sold them at £55 he would be selling at a loss no ?

And the same would go for everything else you have listed ???

No you're 100% correct, when I re read it myself I realised my math was way off 😂

I do still think he could add a bit of price to each item and still be selling at a reasonable price though, claw back some of that VAT. It would be a hard job to get it all back though. I think he should just accept he's been assimilated into borg now and keep collecting 😁

 

Had to edit this, as my head now hurts. I think my math may have been right. For example, if he paid roughly 61 for each greyhound, but they were 51 before VAT, by selling each at (a very reasonable) 55, he's still at a loss, but still clawing something back at least. It's late and I've had one drink too many 😂😂

Either way mate, you have come to the right place. You'll find buying and selling here is your best option, and if you know anyone in a similar situation maybe point them this way too. A lot of very good people on here, and a lot of knowledge. 

[Spence098]

3 minutes ago, spoon said:

Yes Spence I think that you are correct...if the supply stays limited at the dealers I could probably sell for close to the price I paid for them. The question is will the price go up or down in the near future. Anyone have a crystal ball? Or just a guess?...but of course if I new that I wouldn't be driving a vauxhall zafira. 

Stop it Liam you just want me to sell my silver  and join the dark side. I was wondering though if I did buy gold what are the pros and cons between buying 1oz gold sovereigns vs 1oz gold Britannia?

Thanks

 

No such thing as a 1oz sovereign to my knowledge mate.

Different types and sizes of sovs the list goes on.

Lots of different types of 1oz coins aswell

Again do your homework and make sure its the right buy for you before you spend all them pennies !!!!

[Spence098]

3 minutes ago, Connor said:

No you're 100% correct, when I re read it myself I realised my math was way off 😂

I do still think he could add a bit of price to each item and still be selling at a reasonable price though, claw back some of that VAT. It would be a hard job to get it all back though. I think he should just accept he's been assimilated into borg now and keep collecting 😁

All good mate.... Friday night aint it had a few bevies 😂😂😂

[Spence098]

On the other hand Spoon if you do want to sell any of your bits let me know before any of this lot 😂😂😂