Spot price and reality

[Leonmarsh]

One thing that always interest me is 

When spot goes from say from 1500 to 1540 and everyone's wets their knickers I hope people realise it's only an extra tenner in a quarter Brit 

Vice versa if it dropped from 1500 to 1460 you've only lost a tenner on a quarter Brit

It's a ten pound swing 

Don't get me wrong if you bought 10 ounces 5 years ago well then your in for over a couple of thousand profit 

Is a few thousand life changing though? 

I see gold as a store of wealth with property far exceeding any gold investment and silver well that's just folly 

 

 

 

 

Edited February 5, 2023 by Leonmarsh

[ArgentSmith]

Why do people claim Gold performs better than Silver? It's a Myth!

And both have performed better than Property over the last 20 years.

Just Sayin 🤗

[Leonmarsh]

1 minute ago, ArgentSmith said:

Why do people claim Gold performs better than Silver? It's a Myth!

And both have performed better than Property over the last 20 years.

Just Sayin 🤗

Better than property ? No way 

I bought a house in 2003 for 40,000 just sold it for 320,000 

Wealthy people have property ! And lots of it 

As regards silver when you see a simpons donut coin for 100 an ounce or a Brit bullion bar for 30 an ounce on here it's madness 

Imagine this if silver rises

I have got a spare 500 quid so will go and buy a Simpsons donut coin 

Just saying 

 

[ArgentSmith]

5 minutes ago, Leonmarsh said:

Better than property ? No way 

I bought a house in 2003 for 40,000 just sold it for 320,000 

Yes way!

 

[Leonmarsh]

Only goes to 2011 ya helmet lol

Let's see it after that Argy lad 

You always bum me out on here glad I don't go on here much anymore 

The usual suspects always pop up 

How many in a tube ?

 

Edited February 5, 2023 by Leonmarsh

[ArgentSmith]

3 minutes ago, Leonmarsh said:

Only goes to 2011 ya helmet lol

Let's see it after that Argy lad 

You always bum me out on here glad I don't go on her much anymore 

The usual suspects always pop up 

How many in a tube ?

 

lol

[Orpster]

1 minute ago, ArgentSmith said:

glad I don't go on her much anymore 

How does she feel about it?

[SilverDrum]

http://pricedingold.com/uk-house-prices/

I think it's also relevant to say that your property was a specific investment, not an average of the market. Likened to buying a gold Una, vs the Three graces, and gothic coins alongside the first. Buy the first and you'd look a genius, average the other's in and it's more modest. 

[artalien]

 Land, Property, Gold and Silver, in that order, if you can ...... Which I cannot.

[Leonmarsh]

1 minute ago, artalien said:

 Land, Property, Gold and Silver, in that order, if you can ...... Which I cannot.

Spot on 

Land and property 

Gold a store of wealth 

Silver to messa around with as a hobby 

[artalien]

We can all agree we very much like gold 😃

[ArgentSmith]

Just now, artalien said:

We can all agree we very much like property 😃

😀

[artalien]

Personally the best bit about stacking, collecting, is that it satisfies the buying impulse imho.

[SlowFrog]

Store of wealth for me. I don't want the robbing buggers in charge to steal what little I have worked my nuts off for through their atrocious mismanagement and corruption. Be your own bank wherever possible.

As for land, I would like to own it but I'm not a fan of our planning permission laws and land/property related taxes. They have it all sewn up. 

Edited February 5, 2023 by SlowFrog
typos

[ChrisSilver]

Off topic posts that are also in breach of forum rules have been hidden. Please respect the forum rules and your fellow members. 

[Chrisplym]

Investing in/collecting precious metals is fun! 😊 Making money out of it is a bonus.

In my opinion (and this is not financial advise) the best short term investment is a pension because of the tax relief.

[SilverDrum]

3 minutes ago, Chrisplym said:

Investing in/collecting precious metals is fun! 😊 Making money out of it is a bonus.

In my opinion (and this is not financial advise) the best short term investment is a pension because of the tax relief.

Such a good point. £4k a year can be put into a LISA (if you fit the requirements, and yes it's locked in with exit fees until retirement or buying your first home) and the government gives you £1k without ever investing into the markets. Which you can find paper precious metal funds to invest in if you really wished. 

Where else can you get a 25% gain on your funds the moment you transfer to the broker/seller? 

[Orpster]

48 minutes ago, SilverDrum said:

Such a good point. £4k a year can be put into a LISA (if you fit the requirements, and yes it's locked in with exit fees until retirement or buying your first home) and the government gives you £1k without ever investing into the markets. Which you can find paper precious metal funds to invest in if you really wished. 

Where else can you get a 25% gain on your funds the moment you transfer to the broker/seller? 

Also incredibly powerful is your occupational pension scheme,
Money taken at source saving either 20% or 40%, when you retire 25% can be taken tax free and the rest at your current (then) tax rate.  So for a 40% taxpayer you only pay 60p for each £1 that goes into your pension, you then get 25p of that tax free and unless your very lucky then likely pay 20% and only on what you draw over your taxable allowance.  Any left in a drawdown scheme is also free of inheritance tax, though when taken out by your beneficiaries is taxable at their underlying tax rate.  Pensions are the most powerful saving tool by far, though obviously limited as cannot be drawn on till 55, and supposedly our overlords are looking to move that to 57.  Generally an employer will also match your contributions to at least 4% of salary, so essentially for the first part you contribute you are paying either 80p for £2 in your pension (20% tax rate payer) or 60p (for 40%ers). 

[SilverDrum]

43 minutes ago, Orpster said:

Also incredibly powerful is your occupational pension scheme,
Money taken at source saving either 20% or 40%, when you retire 25% can be taken tax free and the rest at your current (then) tax rate.  So for a 40% taxpayer you only pay 60p for each £1 that goes into your pension, you then get 25p of that tax free and unless your very lucky then likely pay 20% and only on what you draw over your taxable allowance.  Any left in a drawdown scheme is also free of inheritance tax, though when taken out by your beneficiaries is taxable at their underlying tax rate.  Pensions are the most powerful saving tool by far, though obviously limited as cannot be drawn on till 55, and supposedly our overlords are looking to move that to 57.  Generally an employer will also match your contributions to at least 4% of salary, so essentially for the first part you contribute you are paying either 80p for £2 in your pension (20% tax rate payer) or 60p (for 40%ers). 

Not always, the one i was paying into with one of my jobs when i was younger eroded itself away with fees. When i checked i was at £-3.50ish 🤣

[artalien]

I suspect as we are all unique little snowflakes we will require a tailored solution to saving and investing.

The thing about spot price is you can hardly ever get the goodies for it.

[Bogart]

Best bet is bottle of good wine looking at ones stash then drifting of into a dream where you inherit a gold, or silver mine.

[MetalMandible]

14 hours ago, Bogart said:

Best bet is bottle of good wine looking at ones stash then drifting of into a dream where you inherit a gold, or silver mine.

The topic title is "Spot Price and Reality"... 👀