New with questions 😬

[KarlAggo]

Hi All,

Hope you're all fantastic!

I recently bought my first 9x 1oz silver Britannias and 1g gold bar, love having them and wish to continue, I came into it a bit blind to be fair, I hear about margin schemes etc and well it goes over my head a little, I'm a very visual person.

How come the second-hand silver Britannias are often more or exactly the same as what I can buy on Chards etc, I get that Chards adds a premium (being a business) plus vat (again being a business) but 'John from down the road' is asking exactly the same price (even though vat has been paid, is it an effort to just recoup as much outlay as possible?), can someone please explain to me the ins and outs very simply to me? I tend to look at it very black and white, if I buy let's say a piece of wood from Travis Perkins and pay £10 + vat a total of £12 if I choose that I no longer require it and choose to sell it on, it would be second hand and therefore cheaper say £8 total, I certainly couldn't charge any hidden vat and surcharges, again sorry for my naivety I just want to learn how this all works in a way I will understand 👍

Where would the best place to buy silver/gold be? as I may have this all wrong, if it is a subscription on this forum and buy from the sellers section then fine, I feel a bit out of my depth and probably I am, but love collecting the coins (believe the proper term is stacking), my aim with all this, I hear worrying things with digital currency's, lockdowns, more and more control, but having a tangible asset, appeases me a little and gives me something I can exchange for cash down the line and/or pass to my children, making a little along the way would be nice but not my main aim, I'm sure the premiums and taxes spoken about above will waive any profits.

 

Thanks for reading folks, have a great evening, be nice 🤣

[Orpster]

I would advise you to buy a months silver membership and monitor the sales threads, you can see them without a paid membership but only after three days
Last week a member organised a group buy of KCII Britannia's and we will be paying £25.50 an ounce.  Last month he did the same for QEII Brits and we paid £25 an ounce.  In November/December I bought three tubes of Brits (2x2021 & 1x2023 QEII's) off the forum for £24.50 an ounce.
Not sure what you paid from Chards - but suspect it was a tad more?

Welcome and good luck 👍

[KarlAggo]

41 minutes ago, Orpster said:

I would advise you to buy a months silver membership and monitor the sales threads, you can see them without a paid membership but only after three days
Last week a member organised a group buy of KCII Britannia's and we will be paying £25.50 an ounce.  Last month he did the same for QEII Brits and we paid £25 an ounce.  In November/December I bought three tubes of Brits (2x2021 & 1x2023 QEII's) off the forum for £24.50 an ounce.
Not sure what you paid from Chards - but suspect it was a tad more?

Welcome and good luck 👍

Thanks for the reply, I paid £26.94 so I will definitely be monitoring the thread but taking into consideration another fee for that I will have to buy a few 👍

[stefffana]

Hi and welcome on forum!

On second hand market on forum there are very often Britannia coins at £25-£26 each, but are selling quick. Also, almost daily there are 10oz bars at @£250/each and kilo bars at @£730/each.

You can see them instantly for only £5.99/month silver membership. As a regular member, after three days are for sale only the high priced silver coins/bars.

Happy stacking!🤗

[LawrenceChard]

1 hour ago, KarlAggo said:

Hi All,

Hope you're all fantastic!

I recently bought my first 9x 1oz silver Britannias and 1g gold bar, love having them and wish to continue, I came into it a bit blind to be fair, I hear about margin schemes etc and well it goes over my head a little, I'm a very visual person.

How come the second-hand silver Britannias are often more or exactly the same as what I can buy on Chards etc, I get that Chards adds a premium (being a business) plus vat (again being a business) but 'John from down the road' is asking exactly the same price (even though vat has been paid, is it an effort to just recoup as much outlay as possible?), can someone please explain to me the ins and outs very simply to me? I tend to look at it very black and white, if I buy let's say a piece of wood from Travis Perkins and pay £10 + vat a total of £12 if I choose that I no longer require it and choose to sell it on, it would be second hand and therefore cheaper say £8 total, I certainly couldn't charge any hidden vat and surcharges, again sorry for my naivety I just want to learn how this all works in a way I will understand 👍

Where would the best place to buy silver/gold be? as I may have this all wrong, if it is a subscription on this forum and buy from the sellers section then fine, I feel a bit out of my depth and probably I am, but love collecting the coins (believe the proper term is stacking), my aim with all this, I hear worrying things with digital currency's, lockdowns, more and more control, but having a tangible asset, appeases me a little and gives me something I can exchange for cash down the line and/or pass to my children, making a little along the way would be nice but not my main aim, I'm sure the premiums and taxes spoken about above will waive any profits.

 

Thanks for reading folks, have a great evening, be nice 🤣

I'm happy to see you mention a well known Blackpool dealer.

Did you ever see or read this:

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

Feedback is welcome!

😎

[CollectForFun]

1 hour ago, KarlAggo said:

if I buy let's say a piece of wood from Travis Perkins and pay £10 + vat a total of £12 if I choose that I no longer require it and choose to sell it on, it would be second hand and therefore cheaper say £8 total, I certainly couldn't charge any hidden vat and surcharges

With the difference that second-hand silver bullion is usually considered almost as good as brand new. So if there are buyers who are willing to buy second-hand silver at say £25-26, compared to £27 from the dealers, why shouldn't the sellers offer their silver at that price? So the second-hand price has little to do with VAT, premiums or surcharges. It's all about the price level at which you as a seller expect to find a buyer, which would usually be slightly below the price of the dealers, or, if demand is really high, it may even be the same price as from the dealer.

Hope it makes more sense now, if not, this forum is the best place to ask!

[Gordy]

4 hours ago, KarlAggo said:

if I buy let's say a piece of wood from Travis Perkins and pay £10 + vat a total of £12 if I choose that I no longer require it and choose to sell it on, it would be second hand and therefore cheaper say £8 total, I certainly couldn't charge any hidden vat and surcharges, again sorry for my naivety I just want to learn how this all works in a way I will understand 👍

Good questions for a new member and new starter into PM's however, this is the precious metal market and prices fluctuate up and down and its very hard to compare pure metals with a lump of wood, getting rid of a £12.00 lump for £8.00 is becuase you dont want it and you dont buy wood to make a profit and certainly not as an investment

So, the precious metal game is about investing/collecting, getting a return on said investment and asking market value for what is being sold, if a profit is to be made we will all let go of our shiny stuff unless its a succubus set of course (needed to be there)

Enjoy the ride, and its all there to learn and once you get a feel for it you will love it... we all do, but parting with a shiny work of art isnt hard when you're making a few quid and you know it will be used to buy another piece of shiny stuff anyway

[TheShinyStuff]

1 minute ago, Gordy said:

Enjoy the ride, and its all there to learn and once you get a feel for it you will love it... we all do, but parting with a shiny work of art isnt hard when you're making a few quid and you know it will be used to buy another piece of shiny stuff anyway

Good advice. It took me a long time to get over the sentimentality of selling stuff that I had bought and enjoyed owning. I had never really considered selling. But the big picture is selling up and hopefully moving up, its a journey for sure.

[KarlAggo]

Appreciate all the feedback guys, I'm sure I will have plenty of questions along the way, I would like to buy more gold going forward but £1600 an oz is a little out of range for me but I will get there, it seems gold is they way to go and silver is the gateway drug 👍

[MonkeysUncle]

Just save it up and resist the temptation to spend (if you can!)  or aim for 1/10 or 1/4 oz gold coins for a regular/ semi- regular "fix". Or Sovs/ Half Sovs. 1 oz coins are a fair old chunk of money for most folk including me.

Or given how much I've been quoted for a new shed maybe stacking wood would have been the better option...