Famous last words

[Roy]

I'm not going to buy any more physical gold! There, I said it. 😎

 

 

Wait..has anyone got a 2009 Quarter Britannia....?

 

Edited December 15, 2023 by Roy

[Thelonerangershorse]

Don't be silly, at this range they couldn't hit an eleph.

[DavePa]

Heard on the Titanic "would you like ice in your drink ?"

[James32]

Can I ask what the target was, so I can either cry or take as inspiration?!

[Gruff]

4 minutes ago, James32 said:

Can I ask what the target was, so I can either cry or take as inspiration?!

Anything less than your 12 gazillion tonnes would be laughable for you! 

[Tn21]

Monumental moment Roy congrats. 

How long was you in the gold game for in total ?

[Gruff]

1 minute ago, Tn21 said:

Monumental moment Roy congrats. 

How long was you in the gold game for in total ?

4 days  

[Roy]

16 hours ago, Tn21 said:

Monumental moment Roy congrats. 

How long was you in the gold game for in total ?

Thanks!

Edited December 15, 2023 by Roy

[HonestMoneyGoldSilver]

Amazing position to be in, congratulations @Roy!

What is or was the target? 

I want enough gold and silver to cover 5 years' total expenses which equates to around 40-50 ounces of gold + silver. My target was to get there within 10 years and I started 3 years ago. I'm roughly on track but who knows what's going to happen in future with PM prices and global geopolitics. I may already have enough or I may never have enough, which makes what you've done all the more enviable!

[Roy]

 @Abyss set the standard here. He was the 'Smart Stacker', I stacked sovereigns, he stacked beasts.

Edited December 15, 2023 by Roy

[James32]

Roy has either blocked me or won't answer my vulgar question  😂 

[MrStacker]

54 minutes ago, James32 said:

Roy has either blocked me or won't answer my vulgar question  😂 

Let's play the guessing game. I say 100k

[Stu]

£500/ sovs?

[Abyss]

@Roy there was one point in time where started stacking sovereigns as well I believe at the time bought dozens of them from Harrington and Bryne running an offering (limited to 3 per order but free delivery) below spot price back in 2019 paid about £224 but had to opt out of the insane marketing material unless planning converting gas boiler to burn paper…

Lots of member on the forum also participated in the feeding frenzy. I did eventually sell all my sovereigns on the forum and continued to stack exclusively 1 oz Gold coins until the beastly collection had been completed…

Not reached my goal still in my early 40s want to double my stack size but I am in no rush to do so.

[SeverinDigsSovereigns]

"I am weak, God take my soul"

Sorry didn't realise you meant quitting gold. Never!

Edited December 15, 2023 by SeverinDigsSovereigns

[Roy]

8 hours ago, Roy said:

I'm not going to buy any more physical gold!

😎

[Roy]

17 minutes ago, Abyss said:

@Roy there was one point in time where started stacking sovereigns as well I believe at the time bought dozens of them from Harrington and Bryne

Hatton Garden were doing 10 random sov packages for less than £2000, it was cheap stacking.

18 minutes ago, Abyss said:

Not reached my goal still in my early 40s want to double my stack size but I am in no rush to do so.

See, you have 20 years on me! If I were you, I'd do the same, lots of time to rebalance 👍

[sixgun]

16 hours ago, Roy said:

I'm not going to buy any more physical gold! There, I said it. 😎

By now, my target was blown open and would require a serious rebalance. Not only was storage creating a problem for me........

Really?
I asked Chat GPT how much a shoebox of gold would weigh - it said '116 kilograms'

If i went to BullionbyPost a 1 kg Metalor bar of gold costs £52,558 - so 116kg x £52,558 = £6,092,728.

Tell me again that storage was creating a problem to you. 

I remember i bought quite a lot of silver from one of the forum members who will remain nameless. He had a problem storing all his silver and was going to switch it into gold. There was quite a lot of silver but this would convert into a pocket full of gold. Now i can see such a situation where you find your silver is too much, especially as in this case his wife didn't know he had any silver and he was keeping it in a friend's safe. 

Edited December 15, 2023 by sixgun

[JamesH]

22 minutes ago, sixgun said:

Really?
I asked Chat GPT how much a shoebox of gold would weigh - it said '116 kilograms'

If i went to BullionbyPost a 1 kg Metalor bar of gold costs £52,558 - so 116kg x £52,558 = £6,092,728.

Tell me again that storage was creating a problem to you. 

I remember i bought quite a lot of silver from one of the forum members who will remain nameless. He had a problem storing all his silver and was going to switch it into gold. There was quite a lot of silver but this would convert into a pocket full of gold. Now i can see such a situation where you find your silver is too much, especially as in this case his wife didn't know he had any silver and he was keeping it in a friend's safe. 

I’m guessing with all the celebration stuff that likely means a lot of boxes to store as opposed the small gold coins 

[sixgun]

2 minutes ago, JamesH said:

I’m guessing with all the celebration stuff that likely means a lot of boxes to store as opposed the small gold coins 

Quite possibly a lot of packaging. So the solution is to swap out the proof boxes for raw gold, if necessary in a capsule. i once hid several £1000's of gold behind a skirting board.

[HonestMoneyGoldSilver]

3 hours ago, sixgun said:

Really?
I asked Chat GPT how much a shoebox of gold would weigh - it said '116 kilograms'

If i went to BullionbyPost a 1 kg Metalor bar of gold costs £52,558 - so 116kg x £52,558 = £6,092,728.

Tell me again that storage was creating a problem to you. 

I remember i bought quite a lot of silver from one of the forum members who will remain nameless. He had a problem storing all his silver and was going to switch it into gold. There was quite a lot of silver but this would convert into a pocket full of gold. Now i can see such a situation where you find your silver is too much, especially as in this case his wife didn't know he had any silver and he was keeping it in a friend's safe. 

Keeping more than £20K in your house can be a nightmare. I renewed my insurance a couple of weeks ago. With companies like DirectLine I gave up after wasting hours. They want receipts and valuations for each item and they must be stored in a floor safe (bolted to the floor) with a professionally maintained alarm directly connected to the police, etc, etc. They made me phone their underwriter and discuss it with them. Same is true for other companies. For folks who have bought in private sales or from bullion dealers on TSF, we won't have invoices or receipts for every item. As for getting them sent off for independent valuations and all that nonsense, I mean, there's no chance I'm doing that for bullion and semi-numismatics. 

In the end I can recommend LV. They will insure you specifically on gold and silver bullion without making you jump through all the hoops. They don't require a floor safe and they don't have 99 different clauses like some other companies. If somebody breaks in and steals your stuff you are insured and will be paid. The other companies make it difficult because they have no intention of paying out if somebody steals your precious metals, they will claim you fell foul of Paragraph 2289, Section 42, Sub-section C) Part IV) b)

The higher the valuation of your total stack the more difficult it becomes. I split my stack amongst trusted family who don't own any PMs and I pay the difference in insurance premium (which is tiny for < £7.5K). Sure you can use safety deposit boxes and all that but you have to pay insurance on your box and you're taking on 3rd-party risk. The point of holding metals for me is to have them in my possession. If I wanted to use a safety deposit box I might as well trust another company and buy vaulted gold and vaulted silver, which is VAT-free. 

[sixgun]

19 minutes ago, HonestMoneyGoldSilver said:

If I wanted to use a safety deposit box I might as well trust another company and buy vaulted gold and vaulted silver, which is VAT-free. 

Well you aren't paying VAT on your gold as it is. You have a good point. Roy may come back to say the issue was not he had physical issues with storage but it was the insurance. 
You can hide gold away in wall socket safes, behind a skirting board like i did. Hiding away a few thousand in gold is easy if you are creative. This is the strong point with gold. When you have 100's of kilos of silver this is more difficult but still not impossible if you are creative.

I have thought about sending physical to Kinesis - i would get a Holders' yield then but there are fees to send and store - i am not sure how that balances out at the moment. i think it would cost more than the yield. But it does mean you can spend the KAU / KAG's, so your value is not locked up in the metal - but don't go crazy or else you will spend too much, not be able to buy the KAU/ KAG back and then ultimately you will lose your metal.

Edited December 15, 2023 by sixgun

[Petra]

A safety deposit box is so nice and simple, no stress about burglars, fires etc. Gold is in the box, just having to hide at home some of the boxes that some bits came in. Unfortunately, my safe at home is getting filled with silver… no big silver bars any time soon🤔😮

[Roy]

1 hour ago, sixgun said:

Roy may come back to say the issue was not he had physical issues with storage but it was the insurance. 

You forget, I am an International Man of Mystery, wanted by Interpol, the neighbour's husband and Blockbuster video, since 1990 😉

I have no home, no skirting boards, plug sockets or Dirtyman safe.....SD box for me.

I have physical issues (🥸) and the costs are horrendous.

No more physical gold for me 😇

[JohnA1]

2 hours ago, HonestMoneyGoldSilver said:

...I renewed my insurance a couple of weeks ago. With companies like DirectLine I gave up after wasting hours. They want receipts and valuations for each item and they must be stored in a floor safe (bolted to the floor) with a professionally maintained alarm ..

Huh?

Give a detailed picture of what is in the house to strangers who save it in a database?

The whole idea is you don't own it if you don't hold it.

If every ****&Harry knows what is where, why risk storing anything at home? Who else can access this database? Typically anybody with an account in the sysadmin group on the server. And any backup server. Or any remote server. what about next year, when the data will be hosted with another company, who bid even lower than the previous one? Or the 'cloud' admins?  And let's not get started with 'authorities' who may decide to grab for the greater good.

Wow..