Hi

[Khas85]

Hello everyone, I have just joined the forum. I have never bought any PM however am expecting either a large amount of money early next year or an increase in my income. I currently put money regularly into an index fund in a stocks and shares ISA and hold some shares and crypto (very small amounts) on other platforms. I also have shares in companies I have worked for in the past via the share save scheme they ran.

I joined here after watching videos on YouTube and hearing the website mentioned often and thought it might be a good place to get some opinions.

With the lump sum I may receive next year, my plan is to pay off all of my debts and then put 6 months worth of expenses into a savings account. I will still have a decent amount of money left over and am looking to put this into different places. Some of it will go into my ISA but I am becoming interested in locking some of it up in PM - about 20% of the balance left after debts and savings taken care of.

I am curious to know if it is recommended I put the full 20% allocation into gold or split between gold and silver.

Thank you all.

[James32]

9 minutes ago, Khas85 said:

Hello everyone, I have just joined the forum. I have never bought any PM however am expecting either a large amount of money early next year or an increase in my income. I currently put money regularly into an index fund in a stocks and shares ISA and hold some shares and crypto (very small amounts) on other platforms. I also have shares in companies I have worked for in the past via the share save scheme they ran.

I joined here after watching videos on YouTube and hearing the website mentioned often and thought it might be a good place to get some opinions.

With the lump sum I may receive next year, my plan is to pay off all of my debts and then put 6 months worth of expenses into a savings account. I will still have a decent amount of money left over and am looking to put this into different places. Some of it will go into my ISA but I am becoming interested in locking some of it up in PM - about 20% of the balance left after debts and savings taken care of.

I am curious to know if it is recommended I put the full 20% allocation into gold or split between gold and silver.

Thank you all.

Welcome aboard.

Not financial advice, but personally I'd cover both base's. 

 

[Khas85]

9 minutes ago, James32 said:

Welcome aboard.

Not financial advice, but personally I'd cover both base's. 

 

Thank you for your reply.

This is the way I am leaning but not sure what the standard split is. I'm thinking perhaps 75% gold and 25% silver. Any thoughts on this?

[James32]

Just now, Khas85 said:

Thank you for your reply.

This is the way I am leaning but not sure what the standard split is. I'm thinking perhaps 75% gold and 25% silver. Any thoughts on this?

70/30 roughly would seem logical. 

Best piece of advice is to look into a membership for the forum when the time comes,you will see new deals posted straight away ( right now as a standard member, it takes 3 days to see new sales posts) and as you can imagine, all the good deals will be long gone.

Arbitrary example, there's a 1oz gold britannia for sale right now for £1515 posted fully insured ( you won't see it for 3 days) but at a dealer, the same coin may cost £1555+, these savings soon add up.

[Khas85]

11 minutes ago, James32 said:

70/30 roughly would seem logical. 

Best piece of advice is to look into a membership for the forum when the time comes,you will see new deals posted straight away ( right now as a standard member, it takes 3 days to see new sales posts) and as you can imagine, all the good deals will be long gone.

Arbitrary example, there's a 1oz gold britannia for sale right now for £1515 posted fully insured ( you won't see it for 3 days) but at a dealer, the same coin may cost £1555+, these savings soon add up.

Appreciate the recommendation and will definitely look into becoming a member at the time. Are fractional coins worth buying to maintain the right level of split?

[James32]

4 minutes ago, Khas85 said:

Appreciate the recommendation and will definitely look into becoming a member at the time. Are fractional coins worth buying to maintain the right level of split?

Here's how I personally view it.

1/4oz coins ( highest premium but usually get this back on resale) spot price depending of course. 

Sovereigns ( low premium and fastest selling coin on here when priced correctly)

1/2 oz coins, usually very high premium and not much love unfortunately on resale, unless you price cheaply ( so will likely have to hold longer to get your premium back)

1oz gold coins ( usually lowest premium) but you have narrowed down your buyer's pool substantially, for obvious reasons. But when priced right they still sell well.

 

[Happypanda88]

10 minutes ago, Khas85 said:

Appreciate the recommendation and will definitely look into becoming a member at the time. Are fractional coins worth buying to maintain the right level of split?

Here is a good starters guide produced by Sir Lawrence of Blackpool, our resident guru.

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

Welcome to the forum btw.

[Khas85]

18 minutes ago, James32 said:

Here's how I personally view it.

1/4oz coins ( highest premium but usually get this back on resale) spot price depending of course. 

Sovereigns ( low premium and fastest selling coin on here when priced correctly)

1/2 oz coins, usually very high premium and not much love unfortunately on resale, unless you price cheaply ( so will likely have to hold longer to get your premium back)

1oz gold coins ( usually lowest premium) but you have narrowed down your buyer's pool substantially, for obvious reasons. But when priced right they still sell well.

 

Thank you once again, this is really helpful

[Khas85]

16 minutes ago, Happypanda88 said:

Here is a good starters guide produced by Sir Lawrence of Blackpool, our resident guru.

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

Welcome to the forum btw.

Appreciate this

[Khas85]

Appreciate the responses so far. I want to do this correctly hence why I'm doing all the research now before I even have the money. My next bit of advice I'm after is what sort of information I should record on a spreadsheet. I'd like to keep track of how much of each metal I own by weight, whether I'm in the red or black with my holdings, my average spot price for each metal and my average spot percentage. I'm not sure if it's worth recording any delivery fees and VAT for silver etc.

[Agpanda]

Hi and welcome to the forum from Sweden!

[James32]

2 minutes ago, Khas85 said:

Appreciate the responses so far. I want to do this correctly hence why I'm doing all the research now before I even have the money. My next bit of advice I'm after is what sort of information I should record on a spreadsheet. I'd like to keep track of how much of each metal I own by weight, whether I'm in the red or black with my holdings, my average spot price for each metal and my average spot percentage. I'm not sure if it's worth recording any delivery fees and VAT for silver etc.

Record delivery too ( then you know exactly when your in profit)

If buying on here, there's no vat as such as its secondary. More just viewed as premium over spot.

I believe @Scootermuppet has a good spreadsheet, I'm sure he will share with you when he sees my tag.

[Khas85]

5 minutes ago, James32 said:

Record delivery too ( then you know exactly when your in profit)

If buying on here, there's no vat as such as its secondary. More just viewed as premium over spot.

I believe @Scootermuppet has a good spreadsheet, I'm sure he will share with you when he sees my tag.

Thank you so much. I've PM'd @Scootermuppet

[Fenlander1]

Welcome to the tsf crazy train. A more helpful and informative bunch you will not find.

 

[LawrenceChard]

2 hours ago, Khas85 said:

Hello everyone, I have just joined the forum. I have never bought any PM however am expecting either a large amount of money early next year or an increase in my income. I currently put money regularly into an index fund in a stocks and shares ISA and hold some shares and crypto (very small amounts) on other platforms. I also have shares in companies I have worked for in the past via the share save scheme they ran.

I joined here after watching videos on YouTube and hearing the website mentioned often and thought it might be a good place to get some opinions.

With the lump sum I may receive next year, my plan is to pay off all of my debts and then put 6 months worth of expenses into a savings account. I will still have a decent amount of money left over and am looking to put this into different places. Some of it will go into my ISA but I am becoming interested in locking some of it up in PM - about 20% of the balance left after debts and savings taken care of.

I am curious to know if it is recommended I put the full 20% allocation into gold or split between gold and silver.

Thank you all.

 

1 hour ago, Happypanda88 said:

Here is a good starters guide produced by Sir Lawrence of Blackpool, our resident guru.

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

Welcome to the forum btw.

I could not have put that better myself!

😎

[ChrisSilver]

Hello and welcome to The Silver Forum  

[daca]

Welcome aboard and enjoy the ride!

[Happypanda88]

6 hours ago, Khas85 said:

Appreciate the responses so far. I want to do this correctly hence why I'm doing all the research now before I even have the money. My next bit of advice I'm after is what sort of information I should record on a spreadsheet. I'd like to keep track of how much of each metal I own by weight, whether I'm in the red or black with my holdings, my average spot price for each metal and my average spot percentage. I'm not sure if it's worth recording any delivery fees and VAT for silver etc.

This might help.

 

 

[Scootermuppet]

Welcome aboard! 👍 will dig out the original of the spreadsheet for you.

Bob

[Khas85]

Thank everyone for the replies and recommendations. I have used the spreadsheet that @Scootermuppetshared with me and managed to make some changes to it that are showing information that I think I want available when I start investing into PM. I'm pulling live data from Yahoo Finance to get the spot price but I've noticed it's a lot higher on there than other websites. Will this be a problem?

I've put some dummy data in and included platinum into it in case I decide to buy some of this too. I've also included the silver to gold ratio. 

Keen to receive feedback, what changes would you make?

[James32]

2 minutes ago, Khas85 said:

Thank everyone for the replies and recommendations. I have used the spreadsheet that @Scootermuppetshared with me and managed to make some changes to it that are showing information that I think I want available when I start investing into PM. I'm pulling live data from Yahoo Finance to get the spot price but I've noticed it's a lot higher on there than other websites. Will this be a problem?

I've put some dummy data in and included platinum into it in case I decide to buy some of this too. I've also included the silver to gold ratio. 

Keen to receive feedback, what changes would you make?

Use bullion by post UK for live spot price ( please note they are one of the most expensive dealers though) but their charts are reliable.

[Khas85]

7 minutes ago, James32 said:

Use bullion by post UK for live spot price ( please note they are one of the most expensive dealers though) but their charts are reliable.

Thanks James. I've been using bullion by post for manual calculations while I've been learning but I'm having a hard time getting it into Excel. Yahoo and Kitco both work though.

[James32]

1 minute ago, Khas85 said:

Thanks James. I've been using bullion by post for manual calculations while I've been learning but I'm having a hard time getting it into Excel. Yahoo and Kitco both work though.

Tbh I'm still using pen and paper 😂😂

@Scootermuppet have you any workarounds?

[Scootermuppet]

2 minutes ago, James32 said:

Tbh I'm still using pen and paper 😂😂

@Scootermuppet have you any workarounds?

I've been using gold.co.uk, but Khas can't make that work either...🤷‍♂️ it's always worked fine in my version of the spreadsheet - however, it's a Google Sheet, rather than a static Excel spreadsheet - which may make a difference... sadly not my specialist subject 😕

If there's any Excel Fans on the forum, I'm sure they would offer some help too...🤔

[trp]

Welcome to the forum