Is Now a good time to Buy Silver

[GoldDiggerDave]

8 minutes ago, ZRPMs said:

Don't hate me. But in the past I've sold loads of flatware and done very well with it. I even managed to sell a box of plated stuff on flea bay as pirate treasure. I was up front and said it was only plated silver ware but had a bit of fun with the listing set it up in a chest like box bit of builders sand and called it Pirates treasure. It ended up selling for more than some of the silver I had listed. Bidding wars on flea bay. Happy days.

 only picture I could find on the webnet

Hi, My name is ZRPM's I have used ebay to sell silver flatware  

I love an entrepreneur! 

[Midasfrog]

30 minutes ago, ZRPMs said:

Don't hate me. But in the past I've sold loads of flatware and done very well with it. I even managed to sell a box of plated stuff on flea bay as pirate treasure. I was up front and said it was only plated silver ware but had a bit of fun with the listing set it up in a chest like box bit of builders sand and called it Pirates treasure. It ended up selling for more than some of the silver I had listed. Bidding wars on flea bay. Happy days.

 only picture I could find on the webnet

Hi, My name is ZRPM's I have used ebay to sell silver flatware  

HMRC waiting room ?

[ZRPMs]

2 minutes ago, Midasfrog said:

HMRC waiting room ?

All taxes were paid and my poor old wallet  was defiantly hurt in the process.

[monkey]

nice 3% pump on silver spot today, buy now or forever hold your peace.

[Thelonerangershorse]

1 hour ago, Midasfrog said:

HMRC waiting room ?

More like this:

[GoldDiggerDave]

13 hours ago, Upsidedown said:

What stuff, we are trying to talk about silver but keep receiving unsolicited replies

So do you guys reckon silver premiums will come down or are they here to stay? Will they get bigger?

I can see all premiums for physical PM's slowly rising, as its that is where the profit is for dealers, costs are rising for everyone including the refiners and mints so someone has to pay for it...the end user as always.  

I can also imagine a wider split between world and CGT gold in the UK markets due to the CGT rate being halved, eg more demand  for UK CGT currency over Krugerrands. 

 

 

 

 

 

Edited July 13, 2023 by GoldDiggerDave

[HerefordBullyun]

4 minutes ago, GoldDiggerDave said:

I can see all premiums for physical PM's slowly rising, as its that is where the profit is for dealers, costs are rising for everyone including the refiners and mints so some has to pay for it...the end user as always.  

I can also imagine a wider split between world and CGT gold in the UK markets due to the CGT rate being halved, eg more demand  for UK CGT currency over Krugerrands. 

 

 

 

 

 

Your right also the cost of production of metals is going up due to what.... Tada inflation baby! That is going to be factored into premiums...

Edited July 13, 2023 by HerefordBullyun

[monkey]

Taking premiums into account, would it be best to invest in premium products like proofs and dragon bars, or stick to Brittanias?

Or when the fan really gets hit, do premiums get demolished for a period of time and all silver/gold is seen as equal regardless of condition and form it comes in and go for spot?

[GoldDiggerDave]

3 minutes ago, monkey said:

Taking premiums into account, would it be best to invest in premium products like proofs and dragon bars, or stick to Brittanias?

Or when the fan really gets hit, do premiums get demolished for a period of time and all silver/gold is seen as equal regardless of condition and form it comes in and go for spot?

 First question......depends what your personal goals are, are you collecting/stacking or investing 

Second question,  I would not stress too much about premiums as if you are holding  PM's its spot thats going the dictate and drive the price not the premium in almost all cases. 

 

 

 

 

 

[monkey]

Purely speculating from a leveraged investment point of view. If spot has little effect on premium and premium is driven by separate market factors.

I was wondering if the premiums on some items, may increases then spot in some cases, then to flip into a bullion stash. 🤔

[Midasfrog]

2 minutes ago, monkey said:

Purely speculating from a leveraged investment point of view. If spot has little effect on premium and premium is driven by separate market factors.

I was wondering if the premiums on some items, may increases then spot in some cases, then to flip into a bullion stash. 🤔

Choosing coins where the premium will increase is almost impossible but some get lucky 🤞

[Agaupl]

Turns out it was a good time to buy silver after all 

[monkey]

29 minutes ago, Midasfrog said:

Choosing coins where the premium will increase is almost impossible but some get lucky 🤞

That was my thoughts. I suppose have a little diversification in rounds and bars in bullion and some collectable.

[ZRPMs]

I missed out on some kilo bars as I sat on the fence a bit. Sad I missed them but I'm sure had I got them, I'd have also been sad. I think it's on the up but just not feeling it. I like my sov's too much I think.

[GoldDiggerDave]

21 hours ago, monkey said:

nice 3% pump on silver spot today, buy now or forever hold your peace.

The hard thing with silver is trying  to realise the small percentage gains to make them a real world worthwhile profit......You will need to buy utter boat loads of silver to see real world profit.    

3000 silver brits is around £76,800 if they increase 3% to £79,104   £2304 potential profit and I say potential as you'd have to sell them on the secondary market not back to a dealer, selling them off in 1's and 2's would be utterly pointless as it would cost more in round trips to the post office never mind would  almost trigger VAT and HMRC.  £26.36 each and don't forget a load of new silver on here sells for a lot less then this £23.50/ £24 if that was the case you would be well into a loss.  It's worth having a look at silver and try and do some cost analysis to see if anyone is really making a profit.

Or with the hypothetical £76,800 just stick that in the Leeds building society ISA at 5.5% per year £4224 profit per year for doing nothing 100% guaranteed?    

 

 

 

 

[Thelonerangershorse]

6 hours ago, GoldDiggerDave said:

Or with the hypothetical £76,800 just stick that in the Leeds building society ISA at 5.5% per year £4224 profit per year for doing nothing 100% guaranteed?    

If there wasn't a £20k/year limit on ISA's ☹️

[GoldDiggerDave]

20 minutes ago, Thelonerangershorse said:

If there wasn't a £20k/year limit on ISA's ☹️

Got 200k in one of them you need to get in early 🤗 

[tpcob303]

As per the same question in the gold topic, yes. 

[monkey]

7 hours ago, GoldDiggerDave said:

The hard thing with silver is trying  to realise the small percentage gains to make them a real world worthwhile profit......You will need to buy utter boat loads of silver to see real world profit.    

3000 silver brits is around £76,800 if they increase 3% to £79,104   £2304 potential profit and I say potential as you'd have to sell them on the secondary market not back to a dealer, selling them off in 1's and 2's would be utterly pointless as it would cost more in round trips to the post office never mind would  almost trigger VAT and HMRC.  £26.36 each and don't forget a load of new silver on here sells for a lot less then this £23.50/ £24 if that was the case you would be well into a loss.  It's worth having a look at silver and try and do some cost analysis to see if anyone is really making a profit.

Or with the hypothetical £76,800 just stick that in the Leeds building society ISA at 5.5% per year £4224 profit per year for doing nothing 100% guaranteed?    

 

 

 

 

possibly the best way to retrieve your gains with silver is to cash it in for gold when the gold silver ration moves in your favor? Granted that's likely to be over a longish time period traditionally speaking.

However since 2021 the ratio has made some monster moves rather quickly.

[AaaGee]

2 minutes ago, monkey said:

possibly the best way to retrieve your gains with silver is to cash it in for gold when the gold silver ration moves in your favor? Granted that's likely to be over a longish time period traditionally speaking.

However since 2021 the ratio has made some monster moves rather quickly.

Thats what i want to do. But thinking if i do it now im going to make a huge loss.

[theman73]

3 minutes ago, monkey said:

possibly the best way to retrieve your gains with silver is to cash it in for gold when the gold silver ration moves in your favor? Granted that's likely to be over a longish time period traditionally speaking.

However since 2021 the ratio has made some monster moves rather quickly.

Or you can buy like today here on the forum 10x 100g SMP silver bars with £728 delivered and sell them one by one with £80 each?

Some work will be rewarding. 

Just waiting to make money doing nothing is so yesterday. 

 

 

[GoldDiggerDave]

8 minutes ago, monkey said:

possibly the best way to retrieve your gains with silver is to cash it in for gold when the gold silver ration moves in your favor? Granted that's likely to be over a longish time period traditionally speaking.

However since 2021 the ratio has made some monster moves rather quickly.

Not for me, it’s still part of the same issue unless you can play with a few 100k it’s really not worth any real world gains. Everyone is sat on a few 1000 oz dreaming of the day it becomes £500 per oz. 

[ZRPMs]

1 minute ago, GoldDiggerDave said:

Not for me, it’s still part of the same issue unless you can play with a few 100k it’s really not worth any real world gains. Everyone is sat on a few 1000 oz dreaming of the day it becomes £500 per oz. 

I had a picture for that but it's gone.

[monkey]

16 minutes ago, theman73 said:

Or you can buy like today here on the forum 10x 100g SMP silver bars with £728 delivered and sell them one by one with £80 each?

Some work will be rewarding. 

Just waiting to make money doing nothing is so yesterday. 

 

 

Maybe a bit of both? Nice idea, I'll look into doing something similar.

[Thelonerangershorse]

19 hours ago, GoldDiggerDave said:

Or with the hypothetical £76,800 just stick that in the Leeds building society ISA at 5.5% per year £4224 profit per year for doing nothing 100% guaranteed?    

HSBC now have a saving account paying 4% on up to £50k, but with gold still dropping that must be the one to watch ??