I had to take a loss on some silver today

[connr25]

This morning has been a complete write off from the moment I opened my eyes and to top it off I had to take a hit on selling some of my beloved silver I'm aware life happens but I wish I didn't have to sometimes just taking 2brits from the stack hurts I think it hurt more because I only got paid penny's basically I had no other option it's disheartening people...I hope all you guys week runs smoothly. Happy Monday 

[Darr3nG]

7 minutes ago, connr25 said:

This morning has been a complete write off from the moment I opened my eyes and to top it off I had to take a hit on selling some of my beloved silver I'm aware life happens but I wish I didn't have to sometimes just taking 2brits from the stack hurts I think it hurt more because I only got paid penny's basically I had no other option it's disheartening people...I hope all you guys week runs smoothly. Happy Monday 

Any more details? What did you sell, and where?

Did you consider listing here on the forum?

[connr25]

2 1oz silver bars and 2 Brits I wanted about 80-90 for them but I had needed the funds today and the only local bullion dealer takes 7 days to transfer the money so I had to go to a jewelry shop I got offered £10 a oz at 1 place I think it's called H&T so I took them to one in the market and I got 17.50 per Brit and 11 per bar basically lost half of what they cost and I can't post for sale on TSF I need to subscribe witch I can't do untill tomorrow it's not the end of the world I just really didn't want to sell for that price lol I didn't want to sell at all 

[Darr3nG]

4 minutes ago, connr25 said:

2 1oz silver bars and 2 Brits I wanted about 80-90 for them but I had needed the funds today and the only local bullion dealer takes 7 days to transfer the money so I had to go to a jewelry shop I got offered £10 a oz at 1 place I think it's called H&T so I took them to one in the market and I got 17.50 per Brit and 11 per bar basically lost half of what they cost and I can't post for sale on TSF I need to subscribe witch I can't do untill tomorrow it's not the end of the world I just really didn't want to sell for that price lol I didn't want to sell at all 

Brutal!

There's a few of us on here from Manchester, would've seen you right... ah well

[artalien]

4 minutes ago, connr25 said:

2 1oz silver bars and 2 Brits

Sorry to hear mate. Get a few small sales on here going, get some feedback for yourself. Instant BT once you have Forum cred. No help just now I know, soz for your loss.

[connr25]

It's okay guys just thought I'd share my experience today with you all I'm just glad I only had to sel a small amount 

[JohnA1]

14 minutes ago, connr25 said:

..and I got 17.50 per Brit and 11 per bar basically lost half of what they cost ..

Sucks

Once I saw a sov on the window of a high-str jeweller here and though "that's a good price", it was close to spot. They broke my balls before they brought it closer to their till, turns out it was a half sov🤣

These so-called pros will rip you off, stick to the forum mate! Some local members might even buy for cash, you never know..

[connr25]

3 minutes ago, JohnA1 said:

They broke my balls before they brought it closer to their till, turns out it was a half sov🤣

Yh I understand they need to leave some meat on the bone for profit but they will try and give you the Lowest possible price 

[flyingveepixie]

This is the thing about silver isn't it, and an ongoing hot topic of discussion about the questionable wisdom of investing in it in the first place. It rarely (if ever) returns a profit, although as others have pointed out, you would have gotten a bit more back if you had sold on here.

Edited November 13, 2023 by flyingveepixie

[connr25]

Yes I know but I didn't want to break any rules and I don't have a subscription yht I've only been hear about a week so I can't post anything for sale ...and I don't mind if I'm losing a few pound per bit I'm just not feeling losing 50%

[theman73]

45 minutes ago, flyingveepixie said:

This is the thing about silver isn't it

Nope

[JohnA1]

44 minutes ago, flyingveepixie said:

This is the thing about silver isn't it, and an ongoing hot topic of discussion about the questionable wisdom of investing in it in the first place. It rarely (if ever) returns a profit, although as others have pointed out, you would have gotten a bit more back if you had sold on here.

Can't see silver as an 'investment', almost all of what I've bought is underwater and will probably continue to be for quite some time if I were to sell to dealers. They buy well below spot😅

I buy silver because I feel it is severely undervalued. I hope it will be revalued during my lifetime, but can't guarantee even that. It has been deeply undervalued for decades though, so my hopes are not high. I regard it as a speculative aquisition. A punt.

I would only sell through the forum of course..

[margin]

Think of it as a lesson. My first lesson (don’t buy silver proofs) cost a little bit but in the long run will have saved me a lot.

 

[artalien]

Edited November 13, 2023 by artalien

[JohnA1]

13 minutes ago, artalien said:

I laugh at these graphs - because they treat the 1980s GBP the same as 2023's GBP

Even the official inflation figures are grossly skewed from early 80s onwards

 

According to John Williams' ShadowStats tables, prices have gone up 32x since 1980. Even if you question his methodology it will still be well over 16x

Even then £15 of 1980 would be well over £240 today

Food for thought..

Edited November 13, 2023 by JohnA1

[Gordy]

Standard members can list 1 trade listing per 30 days.

You could have put all of them in one listing and got paid out quite quick with a better price

[Silverlocks]

2 hours ago, connr25 said:

It's okay guys just thought I'd share my experience today with you all I'm just glad I only had to sel a small amount 

@artalien's advice is sound.  Make a few small sales - a few brits or small bars to establish that you're a real person, and you can sell here at a far better price than you'd get from a jeweller.  Also, you'll be able to buy at a decent price as well.

Sadly, VAT and the dealer prices make silver very inefficient for saving if you don't know where to look.  On the secondary market it is possible to buy and sell silver at more sane spreads, so getting to know the folks here will get you a market where you can buy and sell silver much more efficiently.

Consider also getting some gold - half sovs, or if you're really on a budget, 1g Tavex bars are pretty good value.

Edited November 13, 2023 by Silverlocks

[flyingveepixie]

1 hour ago, JohnA1 said:

Can't see silver as an 'investment', almost all of what I've bought is underwater and will probably continue to be for quite some time if I were to sell to dealers. They buy well below spot😅

I buy silver because I feel it is severely undervalued. I hope it will be revalued during my lifetime, but can't guarantee even that. It has been deeply undervalued for decades though, so my hopes are not high. I regard it as a speculative aquisition. A punt.

I would only sell through the forum of course..

My thoughts exactly.

[flyingveepixie]

17 hours ago, theman73 said:

Nope

.

Edited November 14, 2023 by flyingveepixie

[Bigmarc]

2 hours ago, flyingveepixie said:

This is the thing about silver isn't it, and an ongoing hot topic of discussion about the questionable wisdom of investing in it in the first place. It rarely (if ever) returns a profit, although as others have pointed out, you would have gotten a bit more back if you had sold on here.

Why can't you just leave people to enjoy their hobby. Always looking for a fight. 

[flyingveepixie]

Not looking for a fight, never have done on the forum. Just telling it as I see it.  I have a pile of silver which has only ever shown a loss and I don't see it ever turning positive.  Is pointing that fact out  looking for a fight in your book..?

I've read a fair few of your posts in the past and noticed that you seem to take offence if someone has a difference in opinion from yours. Differences of opinion which are voiced are simply robust discussion and do not in any way constitute "looking for a fight".

Edited November 14, 2023 by flyingveepixie

[connr25]

1 hour ago, Gordy said:

Standard members can list 1 trade listing per 30 days.

You could have put all of them in one listing and got paid out quite quick with a better price

I can't post in that topic I'm relatively new 

[Gordy]

4 minutes ago, connr25 said:

I can't post in that topic I'm relatively new 

have you tried?

[Bigmarc]

36 minutes ago, flyingveepixie said:

I have a pile of silver which has only ever shown a loss and I don't see it ever turning positive

You bought a pile of silver higher than the price it is now? 

No wonder you are all ar*ey about it, if at all true. 

[connr25]

I did yes unfortunately I couldn't most of the start new topic options are dimmed and I can not click them