Silver Spread Bet

[mazdaq]

New to investing in Silver but not new to spread betting. As someone who is interested in Silver purely from an investment perspective, is there any advantage to holding physical silver over taking a spread bet position on it? As I see it, if you hold physical silver and want to cash in on a price rise then you need to find a buyer. Far easier to just close your spread bet position, and it's tax free for UK residents. But maybe I'm missing something?

[modofantasma]

@mazdaq

Worth checking the fees for keeping positions open with your provider?

Another option to consider could be vaulted silver something like this although not something I've done myself https://www.bullionbypost.co.uk/vat-free-storage/

Edited June 10, 2022 by modofantasma

[LawrenceChard]

38 minutes ago, modofantasma said:

@mazdaq

Worth checking the fees for keeping positions open with your provider?

Another option to consider could be vaulted silver something like this although not something I've done myself https://www.bullionbypost.co.uk/vat-free-storage/

Don't forget:

https://www.chards.co.uk/1000-ounce-vat-free-silver-bars-switzerland/14260

together with numerous other silver, platinum, or palladium bullion products VAT free, with better / best storage rates.

@ChardsCoinandBullionDealer

😎

[mazdaq]

Thanks guys, I'll have a look at these options.

[Tn21]

Have you made money spread betting, I've always got smoked spread betting. 

[sixgun]

Different people have different reasons for holding physical metals. For at least some of us it is to hold value outside the system.

A spread bet is simply a bet in fiat. If you keep your bets low you can win. If you have well placed stops you can win. Most people don't do this and they eventually lose. They place too big bets, they use too much leverage. If you are successful then carry on spread betting.

With physical you can sleep at night - if the market goes mad what do you care? You are in physical and the markets are paper.

If you are successful in spread betting i think it is a good idea to keep taking profits out and getting some physical. This is outside the system. The paper price could go to zero but you can't lose your physical to the spread betting company. We saw the market gyrations in March 2020. The paper price went down to $11. There was no physical on the planet at these levels. The physical price was many dollars higher. Some of us here believe at some point the markets will break down. There is no guarantee what you will be able to get out of a spread betting account. Forget any guarantees if the markets breakdown badly.

So i would look to keep pulling profit out and converting it into UK coins. Get them out of the system instead of being held in a 'bookmaker's' account. Gold has the lowest costs to buy and sell. Sovereigns and half sovereigns are the usual recommendations. 

If you have UK gold and silver coins these are CGT free.

[sixgun]

The silver forum is one of the best places to pick up some gold and silver.
If you are buying a reasonable amount on a regular basis getting a silver premium membership on the forum could work for you. You get to see coins and bars when they are put on the trading forum rather than having to wait a couple of days. i have saved my membership costs several times over.

https://www.thesilverforum.com/forum/13-united-kingdom-ungraded/