Looking to invest

[paul159]

Hi,

As a complete novice, I'm looking for advice on purchasing physical silver for storage at home, using savings (about £15000) plus some junk silver for emergency use possibly. I'm not particularly interested in numismatic. If I understand correctly, it's better to obtain 50-90% 0.999 fine silver for the investment. Maybe now is not the time to buy, I know premiums are very high...

If anyone could recommend any trusted dealers it would be appreciated. I live in Essex.

[LawrenceChard]

17 minutes ago, paul159 said:

Hi,

As a complete novice, I'm looking for advice on purchasing physical silver for storage at home, using savings (about £15000) plus some junk silver for emergency use possibly. I'm not particularly interested in numismatic. If I understand correctly, it's better to obtain 50-90% 0.999 fine silver for the investment. Maybe now is not the time to buy, I know premiums are very high...

If anyone could recommend any trusted dealers it would be appreciated. I live in Essex.

I wouldn't trust any dealers from Essex! 🙂

[FlorinCollector]

@paul159I would agree just now is not the best time to buy with very high premiums and VAT on top. I would not be looking to blow the 15k on a UK dealer.

If this is the path you have researched and think it is best, the best info I could add would be to get yourself premium membership on here.

The deals go on here quick but the price on here beats the dealers everyday. 

If you get premium membership you will be first to see new deals that get offered. 

This will be the best use of your money. 

[Gordy]

there are some silver coins on here now for £24.00 each in the sales section.... not sure if he's in Essex though 😂

[pricha]

I got a few under £25, no one is interested 😆

[Paul]

if you want most silver for value for your money, consider bullionvault allocated storage

 

[Bigmarc]

2 hours ago, paul159 said:

Hi,

As a complete novice, I'm looking for advice on purchasing physical silver for storage at home, using savings (about £15000) plus some junk silver for emergency use possibly. I'm not particularly interested in numismatic. If I understand correctly, it's better to obtain 50-90% 0.999 fine silver for the investment. Maybe now is not the time to buy, I know premiums are very high...

If anyone could recommend any trusted dealers it would be appreciated. I live in Essex.

Anything British bud. Only buy bits that you can sell on easily. Pre 1920s, 47s, Britt's, queen's beasts and sovs. Other bits do sell but to a smaller market. 

[Airhead]

There is a dealer directory section of the forum. Living in Essex, the cheapest option would be Bairds for Kilo bars, works out at £19.38 an ounce but you have to add vat, unless you opt for storage.

[Bigmarc]

How does it work with storage when you want to sell? 

[paul159]

1 minute ago, Airhead said:

There is a dealer directory section of the forum. Living in Essex, the cheapest option would be Bairds for Kilo bars, works out at £19.38 an ounce but you have to add vat, unless you opt for storage.

I see. Why wouldn't I need to pay vat if I opt for storage?

[Airhead]

2 minutes ago, paul159 said:

I see. Why wouldn't I need to pay vat if I opt for storage?

Because you do not take physical possession, it just sits in thier vault.

[Airhead]

4 minutes ago, Bigmarc said:

How does it work with storage when you want to sell? 

With Bairds they will guarantee to buy anything in your allocated holding.

[Airhead]

But I would not think about silver at the moment in any shape or form unless as a collector you had a hankering for a particular numismatic dainty.

[paul159]

1 minute ago, Airhead said:

Because you do not take physical possession, it just sits in thier vault.

Oh right I understand. Thanks

[Paul]

Just now, paul159 said:

Oh right I understand. Thanks

Baird are well trusted dealer and accredited lbma refiner. They also have a showroom in Hatton garden if you wished to deal in person over counter, remember to take your ID and proof of address

 

[paul159]

2 minutes ago, Airhead said:

But I would not think about silver at the moment in any shape or form unless as a collector you had a hankering for a particular numismatic dainty.

I was considering silver in the context of the possible hyper-inflation of the dollar...

[Airhead]

Just now, paul159 said:

I was considering silver in the context of the possible hyper-inflation of the dollar...

In that case forget Silver and buy gold. Either 1oz Britannias, low margin, or bullion Sovereigns, very liquid.

[paul159]

1 minute ago, Airhead said:

In that case forget Silver and buy gold. Either 1oz Britannias, low margin, or bullion Sovereigns, very liquid.

Thanks Airhead. I'll look into that

[Bigmarc]

9 minutes ago, paul159 said:

Thanks Airhead. I'll look into that

Small denominations Paul. Please don't go and spend 15 grand on one bar. 

[paul159]

2 minutes ago, Bigmarc said:

Small denominations Paul. Please don't go and spend 15 grand on one bar. 

Thanks Bigmarc. Like 1oz Britannias I guess. I haven't looked at gold at all, could you suggest how I might go about it?

[Paul]

21 minutes ago, paul159 said:

Thanks Bigmarc. Like 1oz Britannias I guess. I haven't looked at gold at all, could you suggest how I might go about it?

Gold full sovereigns your best premium/value for money %over spot

[paul159]

15 minutes ago, Paul said:

Gold full sovereigns your best premium/value for money %over spot

Cool. Thanks. I'll look at the thread

[GoldStandardPartyUK]

By my count 2020 onward the following countries are going through hyper inflation: 

Lebanon, Cuba, Venezuela, South Africa. 

They say in hyper inflation gold leads silver in timing of the increase but silver jumps bigger. So the ideal would be to somehow have foreknowledge of the timings then you could time it right and trade out of gold into silver, but in reality the costs of selling gold and the premiums of buying silver during the panic would make that unpractical in my circumstances for me. 

I'd like to learn more about how silver does in those modern hyper inflationary nations. I wish these silver channels on YouTube would tell that story. 

For me 999 silver lost its appeal when VAT came with Brexit and also the premiums got so high with #silverqueeze hype

But there's no VAT or premiums on 1947 British coins, good for emergencies, it's something I've been buying recently. 

[paul159]

4 hours ago, Airhead said:

In that case forget Silver and buy gold. Either 1oz Britannias, low margin, or bullion Sovereigns, very liquid.

Hi Airhead, I think the quantity I'm looking to acquire, would mean I'd have to go through a dealer I suppose, such as Baird or Bullion by Post....say 30 sovereigns brings the premium down to around 5.5%. Is that worth it in your opinion?

[Jimmock]

If your looking to buy sovereigns in bulk,have a look at @SVcollector,usually has bulk lots for sale.