New member today!

[Lewissmithy98]

Hi all, I’m a new member joining today hoping to become a long standing diamond member. I have a long way to go in my precious metal investing hobby. I recently purchased my first 100g silver Umicore bullion. After doing some research I have found different sites offering the same bullion for slightly less than where I purchased (bullionbypost).

my initial questions I would like to ask that keep me up at night are;

where is the best source for brand new silver bars?

what is the standard “acceptable” premium costs? 

does specific branding of bullion’s matter too much? 

am I better to buy multiple smaller bars than say one large bar? (For ease of reselling in the future)

i am debating a purchase from atkinsons for 10oz Britannia silver bullion. Is this a good starting point? (£65 premium, £316 total)

sorry for what is probably considered a “noob” question… but I hope to hear from somebody who can guide be.

now I’m off to try and learn how to navigate the site and have a snoop around.

TIA
 

[Happypanda88]

Welcome to the forum.

Take a look at the Buy & Sell section of completed sales to get an idea of prices of silver offered on the forum.

[Fenlander1]

Welcome to the forum. 

 

[daca]

Welcome aboard and enjoy the ride!

[ChrisSilver]

Hello and welcome to The Silver Forum  

Many members choose to exclusively buy and sell on TSF and report better prices than buying from dealers. If you do decide to BUY & SELL on TSF: Please make sure you have read the applicable QuickStart guide to trading as it contains useful and important information before trading on the forum. 

UK QuickStart Guide
EU QuickStart Guide
USA & Canada QuickStart Guide

You may also wish to upgrade your membership to see trade listings 3 days before standard members, all good deals go well within this time. As @Happypanda88 has suggested you can also check the completed listings in the trade section to get an idea of prices. Bearing in mind that prices as well as margins also do fluctuate based on supply and demand. 

Hope that helps

[LawrenceChard]

4 hours ago, Lewissmithy98 said:

Hi all, I’m a new member joining today hoping to become a long standing diamond member. I have a long way to go in my precious metal investing hobby. I recently purchased my first 100g silver Umicore bullion. After doing some research I have found different sites offering the same bullion for slightly less than where I purchased (bullionbypost).

my initial questions I would like to ask that keep me up at night are;

where is the best source for brand new silver bars?

what is the standard “acceptable” premium costs? 

does specific branding of bullion’s matter too much? 

am I better to buy multiple smaller bars than say one large bar? (For ease of reselling in the future)

i am debating a purchase from atkinsons for 10oz Britannia silver bullion. Is this a good starting point? (£65 premium, £316 total)

sorry for what is probably considered a “noob” question… but I hope to hear from somebody who can guide be.

now I’m off to try and learn how to navigate the site and have a snoop around.

TIA
 

You may find this useful:

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

It sounds like you made your first purchase via a Google search, which is always headed by the advertisers who pay Google the most to get your attention first.

Was there any reason to buy a Umicore silver bar instead of a "Best Value" one. I see today that BbP show Best Value from £116.64, whereas Umicore are  from £124.20 each.

Both these prices are after their 2% off Sale offer.

I also see today that Blackpool's leading Coin and Bullion Dealer have 100 Gram silver bars in stock, from £102.91 each

To make a better comparison, you need to allow for delivery costs. BbP offer so-called "free postage", but Chards show postage separately. They / we have a showroom, open to the public, so you can collect and avoid postage costs. Many of our newby competitors are internet only, and you cannot easily collect from their premises.

Also not the word "from"

BbP single prices are much higher, at £132:

Chards also show quantity price breaks, and a single works out about £114 including delivery, which is about £18 less than BbP:

To be fair to them, it probably cost them about £4 for you to click their Google advert.

Unfortunately Google are not on your sided, but on the side of whoever pays them the most money.

Of course, doing price comparisons takes time, but some of the most competitive dealers help out by doing most of it for you, for example:

None of this helps much if you really wanted a Umicore bar, and nothing else, although note that Chards do show a pre-owned Umicore for £92.17, but Out of Stock, but you could regiester your interest if you did not mind waiting.

Do you actually need to buy new as opposed to secondary market?

And lastly, if you are buying for investment, then investment gold is more tax efficient because it is VAT exempt, whereas new silver is not. But you alreay knew this if you have already read the excellent (even if I say so myself) "Advice Guide for UK Bullion Investors".

😎

 

[James32]

Welcome aboard 

[James32]

100g bar's can be purchased on the forum from £80

Look into a membership ( you will see the new deals right away ) otherwise it takes 3 days for non paying members, as you can imagine all the good stuff is gone. 

[LawrenceChard]

7 hours ago, Lewissmithy98 said:

Hi all, I’m a new member joining today hoping to become a long standing diamond member. I have a long way to go in my precious metal investing hobby. I recently purchased my first 100g silver Umicore bullion. After doing some research I have found different sites offering the same bullion for slightly less than where I purchased (bullionbypost).

my initial questions I would like to ask that keep me up at night are;

where is the best source for brand new silver bars?

what is the standard “acceptable” premium costs? 

does specific branding of bullion’s matter too much? 

am I better to buy multiple smaller bars than say one large bar? (For ease of reselling in the future)

i am debating a purchase from atkinsons for 10oz Britannia silver bullion. Is this a good starting point? (£65 premium, £316 total)

sorry for what is probably considered a “noob” question… but I hope to hear from somebody who can guide be.

now I’m off to try and learn how to navigate the site and have a snoop around.

TIA
 

It is not clear whether you are referring to a bullion bar or a bullion coin, however as I don't think Umicore make coins, I infer that you are intending to refer to bars.

also talks about "bullions"!

😎

[ZRPMs]

Welcome, Lots of great advice to be found on TSF. Best to shop around for best price. Try the buy and sell link hereon the forum. I bought just before Christmas. Excellent experience. Lovely coins.

[Lewissmithy98]

11 hours ago, LawrenceChard said:

You may find this useful:

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

It sounds like you made your first purchase via a Google search, which is always headed by the advertisers who pay Google the most to get your attention first.

Was there any reason to buy a Umicore silver bar instead of a "Best Value" one. I see today that BbP show Best Value from £116.64, whereas Umicore are  from £124.20 each.

Both these prices are after their 2% off Sale offer.

I also see today that Blackpool's leading Coin and Bullion Dealer have 100 Gram silver bars in stock, from £102.91 each

To make a better comparison, you need to allow for delivery costs. BbP offer so-called "free postage", but Chards show postage separately. They / we have a showroom, open to the public, so you can collect and avoid postage costs. Many of our newby competitors are internet only, and you cannot easily collect from their premises.

Also not the word "from"

BbP single prices are much higher, at £132:

Chards also show quantity price breaks, and a single works out about £114 including delivery, which is about £18 less than BbP:

To be fair to them, it probably cost them about £4 for you to click their Google advert.

Unfortunately Google are not on your sided, but on the side of whoever pays them the most money.

Of course, doing price comparisons takes time, but some of the most competitive dealers help out by doing most of it for you, for example:

None of this helps much if you really wanted a Umicore bar, and nothing else, although note that Chards do show a pre-owned Umicore for £92.17, but Out of Stock, but you could regiester your interest if you did not mind waiting.

Do you actually need to buy new as opposed to secondary market?

And lastly, if you are buying for investment, then investment gold is more tax efficient because it is VAT exempt, whereas new silver is not. But you alreay knew this if you have already read the excellent (even if I say so myself) "Advice Guide for UK Bullion Investors".

😎

 

Hi Lawrence, initially, thank you so much for your detailed response. I’ll be 100% honest with you. I bought some silver based off a google search which came from an interesting conversation with a plumber in work who mentioned the benefits of buying precious metals. So I had an interest in stacking silver bars as they’re more weight for my money, so I have less chance of losing a small gold 1g bar for the same price 🤣 also I’ve seen lots of hype about silver lately and it just seemed sensible to me for to start with silver due to the small monetary amount I’m investing. Again I’ll be honest that I went with a Umicore bar due to its finish and it just looks so clean and quality. I did look at the best price silver bar but just didn’t like the cheap look of the smelted silver “if I’m even using the correct terminology”.

i also had a preference to buy new as have the worry of scamming in the back of my mind when buying pre-owned as I’ve never purchased precious metals before.

forgive me if my terminology is completely incorrect and I have the wrong mindset but I also have a box to tick that the silver I buy need to please my eye in the bedside drawer 🤣

[Anteater]

24 minutes ago, Lewissmithy98 said:

so I have less chance of losing a small gold 1g bar for the same price 🤣

You may already be aware (and I'm not into 1g bars myself either) but they do tend to come in assay cards so it's not like you really have something as small as a fingernail to loose.

Regarding the type of bars: it's "minted" (like the Umicore shown above) vs "cast" (like the Metalor above). I also prefer the minted bars myself (so far) but note that they can develop milk spots, like a silver coin can. (Also, many people do seem to prefer cast bars.)

Edited December 28, 2022 by Anteater

[Petra]

As previously mentioned on here, for a typical silver bar of about any size, then here is the best option for buying. If funds are limited and you don’t want to or may have issues about saving for an expensive bit of gold, then look at 1/10 Britannia, half (or full) sovereigns or small gold bars.

still compare prices as you may be able to get small gold bars cheaper from some dealers (at times), especially if they offer free delivery.

whatever way you go, get paid membership on here and still compare prices!

enjoy it🥳😮

[Beachbum]

Here are some bars in 2.5 and 5 grams.  Each one has its own serial number on the card that matches what’s on the bar.  Stick with well known brands/mints. 

[trp]

Hello and welcome to the forum!  

[LawrenceChard]

10 hours ago, Lewissmithy98 said:

Hi Lawrence, initially, thank you so much for your detailed response. I’ll be 100% honest with you. I bought some silver based off a google search which came from an interesting conversation with a plumber in work who mentioned the benefits of buying precious metals. So I had an interest in stacking silver bars as they’re more weight for my money, so I have less chance of losing a small gold 1g bar for the same price 🤣 also I’ve seen lots of hype about silver lately and it just seemed sensible to me for to start with silver due to the small monetary amount I’m investing. Again I’ll be honest that I went with a Umicore bar due to its finish and it just looks so clean and quality. I did look at the best price silver bar but just didn’t like the cheap look of the smelted silver “if I’m even using the correct terminology”.

i also had a preference to buy new as have the worry of scamming in the back of my mind when buying pre-owned as I’ve never purchased precious metals before.

forgive me if my terminology is completely incorrect and I have the wrong mindset but I also have a box to tick that the silver I buy need to please my eye in the bedside drawer 🤣

I'm glad my contribution was interesting.

A lower premium = more weight for your money, but there is a good argument for buying what you like the look of.

Now you have revealed where you keep your metal, if it ever goes missing, there are almost 18,000 suspects on TSF!

😎