Why silver price is going down when we have such inflation?

[LawrenceChard]

15 hours ago, Centauri167 said:

I often read this so called news about a VAT introduction in the EU on silver on this forum. As a citizen of Belgium and a buyer of silver I can tell you that nothing has changed and we still ( and also not in the future ) not have to pay VAT on silver coins or bars issued as a currency. On rounds and "normal" bars also nothing has changed because we always had to pay VAT on them. So maybe in Estonia the situation has changed but don't speak about the entire EU when it is not correct !

If that is correct, then...

Ça plane pour moi!

😎

[LawrenceChard]

On 26/07/2022 at 23:22, theman73 said:

Why silver price is going down when we have such inflation?

I was tempted at the time to respond:

Don't ask questions, just buy it!

Of course, hindsight is wonderful, but right now it is £16.37 after being as high as £16.73

One week ago, it was as low as £15.33

Next time, don't ask, just buy!

😎

[TheShinyStuff]

6 minutes ago, LawrenceChard said:

I was tempted at the time to respond:

Don't ask questions, just buy it!

Of course, hindsight is wonderful, but right now it is £16.37 after being as high as £16.73

One week ago, it was as low as £15.33

Next time, don't ask, just buy!

😎

Don't think I've ever seen you telling anyone to buy silver before. Are you coming over to the shiny side?

[LawrenceChard]

1 minute ago, TheShinyStuff said:

Don't think I've ever seen you telling anyone to buy silver before. Are you coming over to the shiny side?

I do like silver.

In fact, I like silver so much that I think the Royal Mint should add some to every gold sovereign, and they would look much better!

😎

[stefffana]

6 minutes ago, LawrenceChard said:

I do like silver.

In fact, I like silver so much that I think the Royal Mint should add some to every gold sovereign, and they would look much better!

😎

Yep..... Copper....silver......alloys.....sovereigns......percentage......old vs new......yellow......red.......copperish.......

[GoldDiggerDave]

If spot moves £1.40p what real world benefit will it have for an average stacker? 
It pays for 50p capsule, leaves 90p per oz doubt that even covers postage they paid on the silver they bought. 
 

and open question to all silver stackers 

1 what would you say is the amount of silver a “normal” stacker holds.

2 how much would spot have to move to for them to see a real world usable profit, after postage, storage, a safe, storage charges etc.

To give this a fair chance let’s say someone bought their total stack in 2012. 

Super PS I’m not out to trigger anyone, just asking questions.  
 

 

[TheShinyStuff]

47 minutes ago, LawrenceChard said:

I do like silver.

In fact, I like silver so much that I think the Royal Mint should add some to every gold sovereign, and they would look much better!

😎

Waste of silver...🤣

[LawrenceChard]

38 minutes ago, stefffana said:

Yep..... Copper....silver......alloys.....sovereigns......percentage......old vs new......yellow......red.......copperish.......

Never stopped!

😎

[SidS]

Don't buy silver, buy gold.

 

Silver's rubbish! 😁

[LawrenceChard]

2 minutes ago, TheShinyStuff said:

Waste of silver...🤣

No, not at all, in fact if every new sovereign contained 0.3% silver, it would be a great way of buying / investing in silver while legally avoiding VAT!

😎

[TheShinyStuff]

1 minute ago, LawrenceChard said:

No, not at all, in fact if every new sovereign contained 0.3% silver, it would be a great way of buying / investing in silver while legally avoiding VAT!

😎

I like the red ones. You're just old fashioned!

And like any sensible person I very rarely pay VAT on silver, pre owned stuff is just fine.

[LemmyMcGregor]

Just now, TheShinyStuff said:

I like the red ones. You're just old fashioned!

And like any sensible person I very rarely pay VAT on silver, pre owned stuff is just fine.

I like the red ones to! Wait, are we still talking about coins?

[Lyrinn]

27 minutes ago, GoldDiggerDave said:

1 what would you say is the amount of silver a “normal” stacker holds.
 

The stack sizes felt small to me, but, then again, I would imagine most stackers probably do fall into one of two groups: serious (100+oz) and hobby (anything less). This could be driven, quite simply, by what spare income people have and how much knowledge there is, generally.

[LawrenceChard]

1 minute ago, TheShinyStuff said:

I like the red ones. You're just old fashioned!

And like any sensible person I very rarely pay VAT on silver, pre owned stuff is just fine.

You are welcome to like or prefer the copper coloured sovereigns, we are all different and all entitled to our own opinions.

You are also right that I am old fashioned about some things. I like gold to look like gold, not copper.

It is sensible to avoid paying VAT on silver if possible, but most UK secondary market prices are no much lower than new VAT inclusive ones; in fact, sometimes they are more.

As you know, there are alternatives, such as buying for overseas storage, "paper" silver. Available at a well-known Blackpool coin and bullion dealer.

We get lots of quite sensible people who do buy new silver coins (and bars) in investment volumes, mainly because there is insufficient secondary market supply to meet demand, but we do also advise that it is better and more efficient to invest in physical gold than physical silver.

https://www.chards.co.uk/blog/advice-guide-for-uk-bullion-investors/1041

When it comes to small quantity purchases, even with VAT, many silver coins are still good value.

😎

[theman73]

1 hour ago, LawrenceChard said:

I was tempted at the time to respond:

Don't ask questions, just buy it!

Of course, hindsight is wonderful, but right now it is £16.37 after being as high as £16.73

One week ago, it was as low as £15.33

Next time, don't ask, just buy!

😎

I will buy it, but still no answer to the question.

In my opinion is 100% manipulation by USA and London market

[LawrenceChard]

Just now, theman73 said:

I will buy it, but still no answer to the question.

In my opinion is 100% manipulation by USA and London market

I / we (Chards) did buy silver at around £15.50; probably about 10,000 or 15,000 ounces, and I think we should have bought about 5,000 ounces more at the time.

I don't agree about the market manipulation. Sure it may happen to small extents, but I think a lot of the noise about it is made by silver "bulls" to try to manipulate the market upwards.

There is also a lot of "conspiracy theory" stuff around. While much of it may be based on a grain of truth, this gets exaggerated out of all proportion.

Don't worry about all this stuff, just keep buying (silver), although because of its VAT exempt status, investment gold is a better prospect for anyone who wants to take physical delivery.

😎

[theman73]

1 minute ago, LawrenceChard said:

I / we (Chards) did buy silver at around £15.50; probably about 10,000 or 15,000 ounces, and I think we should have bought about 5,000 ounces more at the time.

I don't agree about the market manipulation. Sure it may happen to small extents, but I think a lot of the noise about it is made by silver "bulls" to try to manipulate the market upwards.

There is also a lot of "conspiracy theory" stuff around. While much of it may be based on a grain of truth, this gets exaggerated out of all proportion.

Don't worry about all this stuff, just keep buying (silver), although because of its VAT exempt status, investment gold is a better prospect for anyone who wants to take physical delivery.

😎

JP Morgan? Third time?

I buy my silver without VAT.

Edited August 3, 2022 by theman73

[LawrenceChard]

2 minutes ago, theman73 said:

JP Morgan? Third time?

I buy my silver without VAT.

"JP Morgan? Third time?"

I take no notice.

"I buy my silver without VAT."

Good, but see 

 

😎

[theman73]

2 minutes ago, LawrenceChard said:

"JP Morgan? Third time?"

I take no notice.

https://www.reuters.com/article/jp-morgan-spoofing-penalty-idINKBN26K325

https://www.bloomberg.com/news/articles/2022-07-08/jpmorgan-traders-ripped-off-gold-market-for-years-jurors-told

Edited August 3, 2022 by theman73

[jultorsk]

54 minutes ago, LawrenceChard said:

We get lots of quite sensible people who do buy new silver coins (and bars) in investment volumes, mainly because there is insufficient secondary market supply to meet demand, but we do also advise that it is better and more efficient to invest in physical gold than physical silver.

Hear, hear - 'efficient' is precisely the right word. 👍

On that note, it's similar in the US (and not due to VAT!); compare the premiums in physical silver vs. gold.

(Graph in retail prices from Apmex)

https://youtu.be/Joz0WmgauVc

 

[TheShinyStuff]

45 minutes ago, LawrenceChard said:

You are welcome to like or prefer the copper coloured sovereigns, we are all different and all entitled to our own opinions.

You are also right that I am old fashioned about some things. I like gold to look like gold, not copper.

It is sensible to avoid paying VAT on silver if possible, but most UK secondary market prices are no much lower than new VAT inclusive ones; in fact, sometimes they are more.

As you know, there are alternatives, such as buying for overseas storage, "paper" silver. Available at a well-known Blackpool coin and bullion dealer.

We get lots of quite sensible people who do buy new silver coins (and bars) in investment volumes, mainly because there is insufficient secondary market supply to meet demand, but we do also advise that it is better and more efficient to invest in physical gold than physical silver.

https://www.chards.co.uk/blog/advice-guide-for-uk-bullion-investors/1041

When it comes to small quantity purchases, even with VAT, many silver coins are still good value.

😎

I'm pulling your leg...

I don't actually have a lot of gold- have you seen the price of it!!!😀 - you probably have more down the back of your couch than I own.

The first sovereign I bought was a 2015 (in 2015) and so I just thought that was the colour of a sovereign. I have since been educated, but in truth I do quite like the coppery colour, but I'm not hugely fussed one way or the other.

Silver is always VAT free on the forum...and while premiums may take up some of the slack left by the absence of VAT, there is generally a level below dealer margin prices available on the forum. 

Silver was my first PM love, and probably always will be, but gold is very firmly in my plans now. I expect this is a common occurrence in the PM journey.

Whilst I'm not of the 'if you don't hold it, you don't own it' persuasion, I do like to enjoy my PMs from time to time, so storage is not for me.

What about the free postage???😀

[GoldDiggerDave]

The postman is probably making more money for posting your silver then you are buying and holding it……..please don’t hate me for saying that. 

[theman73]

5 minutes ago, GoldDiggerDave said:

The postman is probably making more money for posting your silver then you are buying and holding it……..please don’t hate me for saying that. 

No comment.

[TheShinyStuff]

4 minutes ago, GoldDiggerDave said:

The postman is probably making more money for posting your silver then you are buying and holding it……..please don’t hate me for saying that. 

Not at all. I get the silver/gold thing. In my 200 or so ounces there are 2 coins that I can think of that I couldnt sell today for more than I paid: a 2017 silver krug and a 2018 Archangel. Paid around £40 each, but you live and learn. Everything else could make a quid or two or at least break even.

I've said before that silver is for my enjoyment and my kids benefit. They haven't spent a penny on it, and will have a nice pile of shiny at some point. I also genuinely think that while silver won't get to the moon, it will eventually increase in value to some degree.

I simply just don't approach PM with the same focus and determination that some do - I just enjoy it, but I try to buy smart! 

Gold is different, if my circumstances were different then I would own a lot of gold, but they're not, so I don't. But I am steadily working on it!

In the early days I was just buying one of everything, no real plan or focus. As I've grown in this game that has changed, I now have a rough plan, some inkling of where I'd like to get to. 

[TheShinyStuff]

14 minutes ago, theman73 said:

No comment.

I should hope not! I bought silver krugs from you...