I Wouldn't Buy Silver

[ArgentSmith]

6 minutes ago, HerefordBullyun said:

HH is always right..... apparently thats why hes on my ignore list.....

But if you ignore HH how are you going to know the future price of Silver in advance?

 

[HerefordBullyun]

Just now, ArgentSmith said:

But if you ignore HH how are you going to know the future price of Silver in advance?

 

Id rather not.....

[HawkHybrid]

24 minutes ago, HerefordBullyun said:

HH is always right..... apparently thats why hes on my ignore list.....

and of course I'm the bad guy for helping to spread the word last year, that silver pumpers pushing for higher than

$28 usd wasn't going to end well.

 

HH

[HillWalkerDundee]

1 hour ago, HawkHybrid said:

have you looked at the yearly cost to vault silver?

 

HH

I don't vault silver, I hold it physically at a location I own and I don't do paper either. So vaulting cost is zero.

[KevinFlynn]

Currently I'm of the opinion that buying silver doesn't hold anything over buying gold. I'm mainly looking at wealth conservation and not on profit, but I cannot ignore the feeling of losing 19+% the moment I'm leaving the store.

I'll still hold onto what I have, in case of a silver to the moon scenario. I'm seriously contemplating to invest into paper silver, but I'll need to follow ETCs for a while.

[Gordy]

SO? Off topic a bit, what happens when you 'ignore' someone? do you stop seeing their posts and comments?

[sixgun]

1 hour ago, HawkHybrid said:

stupidly rigid as usual. only stupid people looked at the price drop in march 2020 and thought I cannot buy

physical at these prices... I will let the opportunity pass and then make the excuse that it was impossible

to buy silver and that I was right. those that are a little more flexible in their thinking will have realised that

stupid people claiming 'physical silver is the only way to buy silver' is not the way to go. buying silver by

taking out a paper position would have let you take advantage of the dips. just because you are too stupid

to think past only buying physical silver it doesn't mean the whole world is stupid like you.

if you rigidly live in the past then expect to miss out on current opportunities.

 

HH

Why did sixgun post the image of the chart from IG?

Well it was to show and confirm the price and the date of the silver which had been mentioned in earlier posts.

Why did sixgun mention buying physical silver at that time?

Well it had also been mentioned by a member they had not been able to buy silver at this low price but had had to pay $18 with a long delivery time.

What HH didn't compute is sixgun posted a chart from IG. One with moving averages on it - that should indicate that that person had an account with IG. Perhaps that person has bets on the silver price. Perhaps that person has done spread bets on silver for over a decade.

[sixgun]

2 minutes ago, Gordy said:

SO? Off topic a bit, what happens when you 'ignore' someone? do you stop seeing their posts and comments?

This happens. You can click on it and reveal the post - that way i find out when HH is calling me a lunatic and stupid. And guess what, guess what - i love it.

[sixgun]

8 minutes ago, KevinFlynn said:

Currently I'm of the opinion that buying silver doesn't hold anything over buying gold. I'm mainly looking at wealth conservation and not on profit, but I cannot ignore the feeling of losing 19+% the moment I'm leaving the store.

I'll still hold onto what I have, in case of a silver to the moon scenario. I'm seriously contemplating to invest into paper silver, but I'll need to follow ETCs for a while.

i feel for those who have to pay VAT on their silver. i am inside the EU at the moment, so i can still buy at goldsilver.be at the good old prices. i buy other silver but only on the forum, when i see something i like at a decent price.
If you do not leverage up a lot, spread betting can be a good way. The gains for UK tax payers are tax free as it is classed as betting. The trick is not to leverage up to a stupid extent - i have made that mistake in the past and ended up losing when price took a big move against me. If you don't go mad you can ride out the downs - or if you are short, the ups. You can get in and out very fast.
Another way is to hold SLV - i have done that in the past and sold CALL options against my position - that is getting more sophisticated but it is a way to get a little alpha.

The other way is i currently hold gold and silver on the Kinesis platform. i receive a holder's yield for the metal i hold. The yield isn't that good for silver but it is quite a bit better for gold and there are no vaulting fees.

i do have physical (at the bottom of the sea) - and you should hold physical in hand as well. 

Lots of ways of playing and having silver without the VAT nuisance.  

[Junior]

Sweet damn HH! I had no idea you were speaking of buying paper silver at the low price of $9-$11 USD. I had been referencing stuff like coins and bars! I didn’t know you had a preference for this…

 

[Roy]

I think my memory serves me well....

Didn't BYB pick up a 100oz bar for around £1200 when the price dropped in 2020?

It takes some work, maybe luck too, but there were bargains to be had.

@BackyardBullion please correct me if I'm wrong and I'll delete this post 👍

[Samcrewsilverlover]

13 minutes ago, Roy said:

I think my memory serves me well....

Didn't BYB pick up a 100oz bar for around £1200 when the price dropped in 2020?

It takes some work, maybe luck too, but there were bargains to be had.

@BackyardBullion please correct me if I'm wrong and I'll delete this post 👍

Personally I'd never buy a 100oz silver bar etc..the problems is as I see it is liquidity.  Its OK if you are planning to hold on to it to pass down or pass it on but  I don't think many people would hand over money for 100 oz,kilo silver bars..but I could be wrong...just wouldn't be my choice.....1,2,5 or 10 oz are so much easier to liquidate...anything above that I personally stay well clear of,not because I don't appreciate the size..just too difficult to sell in the long run..unless you know people who will have know problems taking them off your hands.....

[James32]

1 minute ago, Samcrewsilverlover said:

Personally I'd never buy a 100oz silver bar etc..the problems is as I see it is liquidity.  Its OK if you are planning to hold on to it to pass down or pass it on but  I don't think many people would hand over money for 100 oz,kilo silver bars..but I could be wrong...just wouldn't be my choice.....1,2,5 or 10 oz are so much easier to liquidate...anything above that I personally stay well clear of,not because I don't appreciate the size..just too difficult to sell in the long run..unless you know people who will have know problems taking them off your hands.....

Everything sells at a price though and whilst I agree 100 coins will sell far quicker than 1 bar....price said bar well enough and It will go in minutes ( providing spot is at a level you're comfortable with) 

Horses for courses and it's whatever each individual is comfortable with.

[Samcrewsilverlover]

1 minute ago, James32 said:

Everything sells at a price though and whilst I agree 100 coins will sell far quicker than 1 bar....price said bar well enough and It will go in minutes ( providing spot is at a level you're comfortable with) 

Horses for courses and it's whatever each individual is comfortable with.

I respect your opinion and views...from experience 100oz of silver is hard to pass on...unless you are lucky enough to find a buyer or buyers who really want a chunk..with silver being a metal that doesn't seem to be going up or down atm and hovering around $21-22an oz and nor doing much more ..the spot price would have to go down significantly before I committed to purchasing a lump.but always......just my opinion....

[James32]

1 minute ago, Samcrewsilverlover said:

I respect your opinion and views...from experience 100oz of silver is hard to pass on...unless you are lucky enough to find a buyer or buyers who really want a chunk..with silver being a metal that doesn't seem to be going up or down atm and hovering around $21-22an oz and nor doing much more ..the spot price would have to go down significantly before I committed to purchasing a lump.but always......just my opinion....

You're opinion is as valid as mine.

I see both sides as I've bars if sold now at appealing prices then I make a fair profit ( nothing earth shattering mind)

But like you say I've a few bars purchased during last year's madness and I will possibly have to sit on them for generations 🤣

The only reason I purchased the bigger bar was I wanted the experience of owning ( already has most other types of silver)

Would I tell someone else starting out to buy a 100ozer ? Definitely no 🙂

But it's a long road/journey and you're thinking and taste will change every few years, so never say never is my point. 

I see silver as a savings account whereas I get the thrill of buying and receiving parcels every so often without spending a penny ,if that makes sense. ( provided spot doesn't tank of course)

Where would that money be now if kept in the bank?...... probably spent on trash and lying in landfill.

[Samcrewsilverlover]

7 minutes ago, Samcrewsilverlover said:

I respect your opinion and views...from experience 100oz of silver is hard to pass on...unless you are lucky enough to find a buyer or buyers who really want a chunk..with silver being a metal that doesn't seem to be going up or down atm and hovering around $21-22an oz and nor doing much more ..the spot price would have to go down significantly before I committed to purchasing a lump.but always......just my opinion....

I've seen so many 100oz+ bars on different forums there for a long time while it's easier to sell a 1oz 2oz etc......for quick sale when you need cash you can't beat lower denomination coins to sell...100oz you can sell or course..just takes alot longer to shift..and!! Buyers of these chunks always want to barter to get a lower price... you can advertise a coin or coins on here or Fleabay and you can shift them within a week...100oz's...takes a bit of time.

 

[James32]

Just now, Samcrewsilverlover said:

I've seen so many 100oz+ bars on different forums there for a long time while it's easier to sell a 1oz 2oz etc......for quick sale when you need cash you can't beat lower denomination coins to sell...100oz you can sell or course..just takes alot longer to shift..and!! Buyers of these chunks always want to barter to get a lower price... you can advertise a coin or coins on here or Fleabay and you can shift them within a week...100oz's...takes a bit of time.

 

Agree with all points but it's beautiful to hold 🤣🤣 

[Samcrewsilverlover]

2 minutes ago, James32 said:

You're opinion is as valid as mine.

I see both sides as I've bars if sold now at appealing prices then I make a fair profit ( nothing earth shattering mind)

But like you say I've a few bars purchased during last year's madness and I will possibly have to sit on them for generations 🤣

The only reason I purchased the bigger bar was I wanted the experience of owning ( already has most other types of silver)

Would I tell someone else starting out to buy a 100ozer ? Definitely no 🙂

But it's a long road/journey and you're thinking and taste will change every few years, so never say never is my point. 

I see silver as a savings account whereas I get the thrill of buying and receiving parcels every so often without spending a penny ,if that makes sense. ( provided spot doesn't tank of course)

Where would that money be now if kept in the bank?...... probably spent on trash and lying in landfill.

I can appreciate your view....I persist think...its easier to shift 100 oz's of 1 oz coins than a 100oz coin ...and I'm speaking overtime as I don't buy to sell but as an investment..but if I need a few hundred £'s I know it's not going to be too long to sell them rather than a big chunk..but also realise that's not always the rule.....

[Samcrewsilverlover]

3 minutes ago, James32 said:

Agree with all points but it's beautiful to hold 🤣🤣 

Without  a doubt sir...🙂

[James32]

1 minute ago, Samcrewsilverlover said:

Without  a doubt sir...🙂

Would I buy another? No lol

That itch has been scratched .

[BackyardBullion]

@Roy

I bought a 100 oz for £1200, yes indeed 😜

I could sell it tomorrow for profit. But somehow it gives me more comfort than the cash!

[James32]

1 minute ago, BackyardBullion said:

@Roy

I bought a 100 oz for £1200, yes indeed 😜

I could sell it tomorrow for profit. But somehow it gives me more comfort than the cash!

Result!

My second cost twice that 🤣🤣 but its marked as inheritance. 

[Samcrewsilverlover]

27 minutes ago, BackyardBullion said:

@Roy

I bought a 100 oz for £1200, yes indeed 😜

I could sell it tomorrow for profit. But somehow it gives me more comfort than the cash!

Good for you !

[scotwasp]

1 hour ago, BackyardBullion said:

@Roy

I bought a 100 oz for £1200, yes indeed 😜

I could sell it tomorrow for profit. But somehow it gives me more comfort than the cash!

Now as someone who likes silver (I just love to look at it) 😁 if I could buy a 100 oz bar for anything like £1200 why wouldn’t I l 

I understand that buyers don’t see silver as value for money, but if you just like holding it and take a long view (Ok , a really long view) it a wonderfully affordable and very pretty metal. 

[James32]

1 minute ago, scotwasp said:

Now as someone who likes silver (I just love to look at it) 😁 if I could buy a 100 oz bar for anything like £1200 why wouldn’t I l 

I understand that buyers don’t see silver as value for money, but if you just like holding it and take a long view (Ok , a really long view) it a wonderfully affordable and very pretty metal. 

I agree, if I could buy 100oz bars now for £1200 I'd back up the neighbours truck 🙂