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Buying silver


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Welcome to the forum.  I've moved your 1st post to the new member section.

If you haven't already done so I would recommend looking around the forum and checking previous threads.  There should be plenty of posts on starting investments including types of coins and recommended dealers.

 

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If you want basic silver go for Britannias. 
Others are Maples, American Silver Eagles, Austrian Philharmonics, Kangaroos.

Be aware of milk spot - you should go look into this.
If you don't want that issue then buy bars - they tended to be more expensive pre-Brexit.
Don't handle your coins with your bare hands - get some cotton gloves.

i would go for weight for a start. Silver is silver. 
Be aware of postage - i cannot remember buying single coins unless they were something special. The postage can make a bargain coin into not a bargain. Two coins travel for the same as one, ten coins travel for the same.  

Don't buy on ebay - too many fakes and con merchants.
Buying on the silver forum is a good place - nearly everything i get these days is here. If you are serious then invest in a premium membership as you will then see items as soon as they go on offer. Set up the selling section to alert you to new threads.

Do not go for gimmick coins, fads, fashions, most coloured coins. Do not go soft and sentimental on some coin - this is business and about value at the end of the day, so stick to basic silver, you will get better value for money. When you get more knowledgeable you can start branching out but get knowledgeable. i have seen members buying coins and then selling them shortly after b/c they got carried away. Don't.

Edited by sixgun

Always cast your vote - Spoil your ballot slip. Put 'Spoilt Ballot - I do not consent.' These votes are counted. If you do not do this you are consenting to the tyranny. None of them are fit for purpose. 
A tyranny relies on propaganda and force. Once the propaganda fails all that's left is force.

COVID-19 is a cover story for the collapsing economy. Green Energy isn't Green and it isn't Renewable.

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1 hour ago, Mindyspat said:

Just joined the forum. I want to buy silver as an investment but no Ida where to start. What are good cosines etc to buy

If you are UK based then you may want to consider britannias. They are one of the cheapest coins to buy, they are capital gains tax exempt, and they are very liquid when it comes to selling them. An all round great coin for stackers. 

I have a few tubes for sale via the link below. I also have a few loose britannias too. 

 

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You say " buying as an investment" so is that serious investment, inflation cover or rainy day funds ?
As an investment you need to perhaps limit your spending to less than 20% of your "investment" portfolio.
If a serious investment and that means say £50 - £100k then maybe you should buy silver that remains vaulted and therefore VAT free.
You would be hoping for a rise in spot price and most of us believe silver is presently undervalued and therefore has considerable upside in the longer term.

If more as a hobby or diversification and a much smaller spend then you are buying silver with VAT on top or a premium that essentially has VAT built in.
In the UK you will be paying a higher price than in many parts of the EU.
This however doesn't matter because the price is the market price and if you pay more in the UK you will get more in the UK when selling.
This falls apart however if you sell to any dealer who will not pay a cent over spot and usually not even spot price by weight.

As others have suggested stick to the cheapest common bullion coins and don't get tempted into proofs, graded and novelty coins to start.
Monitor the sales section on this site, including @arshimo2012 for offers and compare with our popular dealers like Atkinsons, Chards, BullionbyPost etc.
You will never get the opportunity to buy cheap silver unless you subscribe to our Premium service as bargains go before you see them but for now keep a note of completed sales to get a feel for the market and which bullion seems a better deal than an other. When purchasing one or two coins only, factor in the costs of shipping which in percentage terms can increase your cost significantly.

To start on this site I suggest after doing some homework you place a "Wanted" entry on the forum stating what you would like to buy and what price you are willing to pay to see if you can tempt any sellers. Your target price has to be realistic however and if you pitch too low you will not get any response. Most on this forum are educated in this stuff and when silver is trading low many will not wish to sell preferring to hold for a higher price later.

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If investing, what is your investment goal? Diversification of your portfolio? Wealth preservation in protecting against inflation or worse - hyperinflation or a crash? Holding physical is what this forum is about - it makes the most sense for everyone on here, but it must make good sense to you too.

Then: Precious metals are volatile, you need to have a midterm investment horizon at least. Gold is an interesting alternative to silver, a more traditional wealth preserver, while silver usually plays a role in diversification or as a speculative asset.

The answers to:

What do you want it for?

How and where do you want to sell it, if you need to?

- will answer

What should you buy?

How should you buy?

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  • 5 weeks later...
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On 22/10/2021 at 11:47, sixgun said:

Set up the selling section to alert you to new threads.

Hi Sixgun - great advice and I've also learnt so much since joining the forum 6 weeks ago or so. Can I please ask how you can get alerts to new selling threads? TIA

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7 minutes ago, lst65 said:

Hi Sixgun - great advice and I've also learnt so much since joining the forum 6 weeks ago or so. Can I please ask how you can get alerts to new selling threads? TIA

Go to the UK selling thread. There is a 'following' blue button towards the top right. Left click this. A window will open. Select what you want to happen, click the 'follow' button. You will then see you are following the thread - so for example i am following the UK (ungraded thread).

image.thumb.png.0baf37ba2a866dd2f728e6bf6d51baf9.png

Always cast your vote - Spoil your ballot slip. Put 'Spoilt Ballot - I do not consent.' These votes are counted. If you do not do this you are consenting to the tyranny. None of them are fit for purpose. 
A tyranny relies on propaganda and force. Once the propaganda fails all that's left is force.

COVID-19 is a cover story for the collapsing economy. Green Energy isn't Green and it isn't Renewable.

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5 minutes ago, sixgun said:

Go to the UK selling thread. There is a 'following' blue button towards the top right. Left click this. A window will open. Select what you want to happen, click the 'follow' button. You will then see you are following the thread - so for example i am following the UK (ungraded thread).

image.thumb.png.0baf37ba2a866dd2f728e6bf6d51baf9.png

Thank you¬†ūüėä

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