Are you still buying silver?

[fluttershypony]

Im buying some historical junk rn, my silver is fine.  I am investing in silver mining stocks though, they might hit it huge if comex gets beaten up next month.

[blackadder]

I jumped over into stocks for abit but still ofc get the odd coin for a set etc etc

[dwreck]

What did you pay for the 1996 eagle if you dont mind me asking?

[Cointreau]

My inheritance has been delayed but I'm hoping to get my money next week. Then I will add a big chunk to my stack.

No way am I going to hold onto wallet paper.

[KPW82]

Just got a few .925 crowns for £17 each, if the price is OK I'm still picking bits up. I'm not interested in standard bullion for £30 an oz though.

[Sephscott]

Crazy times, I'm new here so I suppose this is also my introduction, hey all! 

I've been buying small bits monthly for a while but I'm struggling to find anything that peaks my interest at a price I can stomach at the moment.

I like close to spot junk silver especially the really worn out coins, weird i know but i just love the history behind them.

I did manage to get a few 10 oz QB's and some 1 oz krugerrands before brexit f'd it all up and seeing what they are selling for know I wish I had brought more.  Saying that the gold krugerrand I brought is probably now worth less, I can't bare to look lol.

Still love the stuff though and always looking for a deal, with no pension this and property is the only plan I've got lol.

[dwreck]

It is crazy times. This is making me want to sell but i keep hearing about a commodities boom and don't want to miss out like everyone else and playing the diamond hands like we're supposed to be i thought.

[GreyBeard]

nope, not buying, in fact i'm actually hoping to sell. i brought a bunch of assorted stuff during a bit of a buying spree way back when the price was about 14 pounds an oz. cant bring myself to pay the current rates.

[Ceaiu]

I buy silver (for stacking) in 3 categories:

- kilo Lunar 3 coins

- 10oz Kookaburra coins

- 100g PAMP bars

First 2 are being driven by FOMO (especially with the shortages of the last year), so yes, I'm still buying.

For the 3rd category, I'm trying to time the market. Now it's not a good time.

[mironlang]

I am a noob stacker. Just started this month.

so far I got 5.5 oz of coins ( 2 Kooks, 2.5  lunar series + 1 oz Krugerrand )

and    50 Grams Chinese silver bar.

 

I just ordered  additional 150 grams chinese silver bar....

 

I think  i will continue to buy  for the next 10 yrs. 

 

Thanks all.

 

 

 

 

 

 

 

[TeaTime]

I'm currently only buying 1oz silver coins/rounds that are parts of a series or date run. I'm buying the design element / from a collector perspective rather than stacking.

Silver isn't that heavily priced though when you compare it with gold (£200 oz twenty years ago). Imagine silver prices increasing by the same percentage......  Just feel sorry for all the gold buyers who bought at £1500 oz, a drop to sub £1000 wouldn't be that surprising.

My advice would be to focus on limited mintage silver at present - the collector value will always offset the higher premium.

[watchesandwhisky]

No not buying, premiums are a joke right now.. seriously people paying £30 per ounce for bullion will probably need to wait a very very long time to see a return on them.

Spot is £19 per ounce , there is no reason why things should be £27 upwards for flat out bullion. 

Then again I remember buying 10oz koala coins in 2014 for £125 when spot was about £10 per ounce...25% was the premium delivered. 

Ok the margins scheme may be over now - but paying a 50% premium is just mad. 

Gold for me. 

[Darr3nG]

Only buying sterling flatware at spot and some nice hand-poured stuff - can't justify the premiums on bullion. Fully committed to buying gold, now.  

[erv]

I have been checking but the premiums are excessive.  I am holding off in the hope that premiums will come down.  Knowing my luck, when the premiums come down the spot price would have risen by even more. 

I have some silver/gold measured in grams; however, I am now staying away from those.  Where I live, i believe items marked grams will be harder to exchange/sell/barter as most people in the states do not use or understand the metric system. 

[DuaneL]

I am new to stacking while I did buy 10 oz at $4.50 over spot, looking online seeing them asking 5.50-7.50 over spot is making me think of gold, going off the fact it can be had at 2.50 a gram over spot if you buy by the oz and a gram of gold is worth slightly more then 2 oz of silver even paying 4-5 a gram over spot buying 10 or 20 gram bars (below 10 grams the premium isn't worth it) seems like a better deal.

[Chrissyblards1]

2 hours ago, watchesandwhisky said:

No not buying, premiums are a joke right now.. seriously people paying £30 per ounce for bullion will probably need to wait a very very long time to see a return on them.

Spot is £19 per ounce , there is no reason why things should be £27 upwards for flat out bullion. 

Then again I remember buying 10oz koala coins in 2014 for £125 when spot was about £10 per ounce...25% was the premium delivered. 

Ok the margins scheme may be over now - but paying a 50% premium is just mad. 

Gold for me. 

Inflation of a fake currency?

[Nugget]

I will buy into silver, if the premium over spot is 25% or less (I'm in the UK so it doesn't happen often).  I won't buy into silver at some of the prices I've seen (+80% over spot).  I'm also not a collector, so don't tend to go for anything other than plain old bullion stuff.

I've purchased 1.5 Oz of gold this last two weeks and that's it.  Not worried about spot price fluctuations as it all evens out over the longer 20-30 years.  

I don't buy to flip either, so plain old sovereigns and Brits do me just fine lol 

[watchesandwhisky]

42 minutes ago, Chrissyblards1 said:

Inflation of a fake currency?

Its premiums rather than price that bothers me. IMO bullion should never ever carry a 50% premium. There is no excuse. Something like a older Kookaburra or a hand pour or something sure if its your thing, but 2020 Britannia's and the like should never have that sort of premium.

Sell a silver coin to a dealer and you will get 97% of spot price if you are lucky.  and granted you can recoup premiums selling on here or ebay to a degree - but give it a while and premiums will return to sensible levels and at that point I may reconsider - Even if silver rises in price you cannot bank on premiums rising too, id say its highly unlikely they will.  

But to be honest I dont even like paying 25% , not when gold can be had for 6% (and even thats high compared to what it was)

I feel buying bullion at these prices is way to risky. Premium will fall, and unless price rises to the same amount people will lose value. 

[dwreck]

23 hours ago, Witcher said:

I own nothing Chinese... never will. Not even Pandas. 
You better get it tested... make sure that it is not fake. 

I like the pandas. I noticed some dealers don't trust pandas. They just usually carry a crazy premium.

[mironlang]

On 28/02/2021 at 10:01, Witcher said:

I own nothing Chinese... never will. Not even Pandas. 
You better get it tested... make sure that it is not fake. 

You have a point there. I will try to get them tested.

My situation is quite different compared to guys living in the west. I pay a lot more because of taxes per oz

That is why chinese silver bars are a bit attractive to me. main  thing i must do is make sure its not fake.

 

 

 

 

[Coolsmp]

I no longer buy silver and just concentrate on gold and other investments.

[Erolroller]

3 minutes ago, Coolsmp said:

I no longer buy silver and just concentrate on gold and other investments.

Why's that chief? 

[Coolsmp]

You will pay around £34 for an Oz of silver, a dealer will pay you £19 to buy it back. Spot would have to increase exponentially for you to ever recover that huge premium and tax paid on it. Where's the value here if you're a pure stacker

[mironlang]

10 hours ago, Witcher said:

that would double suck to pay tax if it was fake.

That is so true. LOL.

 

 

[mironlang]

8 hours ago, Witcher said:

Is there any recourse in the Philippines if someone does sell you fake coins?  
If you don't know, I would check to see if they have any counterfeit laws. 
Only the government is allowed to counterfeit... it is a sad joke, but true. 

There might be a law. But I am positive that the amount of time I would spend on trying to get some sort of compensation when victimized by counterfeits would be much bigger than the actual compensation. LOL.

 

I agree. That only governments are allowed to counterfeit. in fact they are the legal mafias. It is sickening but we need to do what we need to do. And that is to know what are the things that we are allowed to do and always be very careful.

 

You guys in America actually has more opportunity compared to us who lives in what "The authorities" calls "3rd" world.