Silver to da' m00n!

[CazLikesCoins]

Um ... 

... hope so after buying half a kilo 😂

Edited March 25 by CazLikesCoins
stuff

[olddigger]

Hi Cazlikes coins. Apologies in advance, complete noob here. I am interested in silver UK. How would you go about buying if you were starting out. I'm looking at 5 to 10 year investment of say 20k and 1 to 3 year for 10k. Is it best to buy bars and store them offshore? or britannias and store them at home? Apparently it's best to buy coins privately on here to avoid tax?  I want to get into metals but there's so much to learn and so many variables my heads in a spin.

[CazLikesCoins]

28 minutes ago, olddigger said:

Hi Cazlikes coins. Apologies in advance, complete noob here. I am interested in silver UK. How would you go about buying if you were starting out. I'm looking at 5 to 10 year investment of say 20k and 1 to 3 year for 10k. Is it best to buy bars and store them offshore? or britannias and store them at home? Apparently it's best to buy coins privately on here to avoid tax?  I want to get into metals but there's so much to learn and so many variables my heads in a spin.

I'm not the best person to advise you given the amount you want to spend. My sum total of silver is about £500 quid lol. I'm more hobbyist than investor. I can tell you what's pretty and looks nice, but offshore? no idea at all. Although I wouldn't advise storing anything at home. Get a safe deposit, even if you're only buying a few hundred pounds in value. No point taking risks ect. All the best, it's a fun hobby to get into. I'm sure there are other members here who know what's what about investment silver. Me? My investment knowledge ends at 'Ohhh I like that!' and 'I think I'll treat myself' lol

[BritStacker]

2 hours ago, olddigger said:

Hi Cazlikes coins. Apologies in advance, complete noob here. I am interested in silver UK. How would you go about buying if you were starting out. I'm looking at 5 to 10 year investment of say 20k and 1 to 3 year for 10k. Is it best to buy bars and store them offshore? or britannias and store them at home? Apparently it's best to buy coins privately on here to avoid tax?  I want to get into metals but there's so much to learn and so many variables my heads in a spin.

If you want to save yourself tears and protect your investment buy CGT free gold or Bitcoin. You'll loose everything on silver lol. your 5-10 year plan will turn into 20+ year plan to try and just recoup your initial investment. 

My advice is buy gold or bitcoin if you want gains and to protect your wealth.

[pmbug]

Giant stacks are what you take
Going to the moon
I hope my heart don't break
Going to the moon
We could wait forever
Going to the moon
We could be together
Going to, going to the moon
...

with apologies to The Police

[olddigger]

14 hours ago, CazLikesCoins said:

I'm not the best person to advise you given the amount you want to spend. My sum total of silver is about £500 quid lol. I'm more hobbyist than investor. I can tell you what's pretty and looks nice, but offshore? no idea at all. Although I wouldn't advise storing anything at home. Get a safe deposit, even if you're only buying a few hundred pounds in value. No point taking risks ect. All the best, it's a fun hobby to get into. I'm sure there are other members here who know what's what about investment silver. Me? My investment knowledge ends at 'Ohhh I like that!' and 'I think I'll treat myself' lol

( Ohh I like that! and 'I think I'll treat myself' ) sounds like me in a record shop ha ha. cheers for the input, much appreciated.

[olddigger]

13 hours ago, BritStacker said:

If you want to save yourself tears and protect your investment buy CGT free gold or Bitcoin. You'll loose everything on silver lol. your 5-10 year plan will turn into 20+ year plan to try and just recoup your initial investment. 

My advice is buy gold or bitcoin if you want gains and to protect your wealth.

Hi thanks ever so much for the input, I really appreciate it.

[olddigger]

12 hours ago, pmbug said:

Giant stacks are what you take
Going to the moon
I hope my heart don't break
Going to the moon
We could wait forever
Going to the moon
We could be together
Going to, going to the moon
...

with apologies to The Police

So lonely so lonely ha ha 

[Silverlocks]

16 hours ago, olddigger said:

Hi Cazlikes coins. Apologies in advance, complete noob here. I am interested in silver UK. How would you go about buying if you were starting out. I'm looking at 5 to 10 year investment of say 20k and 1 to 3 year for 10k. Is it best to buy bars and store them offshore? or britannias and store them at home? Apparently it's best to buy coins privately on here to avoid tax?  I want to get into metals but there's so much to learn and so many variables my heads in a spin.

Rule #1 of buying silver in the UK - VAT really ganks the value of investment in silver.  Buying and selling through conventional dealers will get you a spread of 30% or more, which makes it not worth doing this way.

But . . .

You can buy and sell on the secondary market at manageable spreads.  If you keep an eye out here and the various other places where folks buy and sell silver, you can buy and sell at a far more sane spread.  The going rate for 1oz coins is somewhere about £23 (give or take - maybe a little more with silver going up), and there are people you can buy from around this price point.  Bars in the 10 oz to 1kg range are also worth buying at the right price. 

You need to understand your exit strategy, which is just a fancy way of saying 'How do I flog my coins?'  With silver, buying and selling to dealers isn't cost effective, so your exit strategy for silver will have to be based off selling back to the secondary market.  Therefore you have to pay attention to liquidity - i.e. what people will buy, and at what price you can make a quick sale.  As a starting point, think of tubes of 1oz coins, and bars in the 10 oz to 1kg range.  Take a look in the UK ungraded section for sales to get a sense of the going rate for these on the open market.

Consider also buying gold in the portfolio, unless you really want to bet on silver going to the moon.  The folks in that video are notorious for circulating clickbait about how silver is about to jump in price, and have been running this schtick for years now.  

Edited March 26 by Silverlocks

[bluemoon]

21 minutes ago, Silverlocks said:

Rule #1 of buying silver in the UK - VAT really ganks the value of investment in silver.  Buying and selling through conventional dealers will get you a spread of 30% or more, which makes it not worth doing this way.

But . . .

You can buy and sell on the secondary market at manageable spreads.  If you keep an eye out here and the various other places where folks buy and sell silver, you can buy and sell at a far more sane spread.  The going rate for 1oz coins is somewhere about £23 (give or take - maybe a little more with silver going up), and there are people you can buy from around this price point.  Bars in the 10 oz to 1kg range are also worth buying at the right price. 

You need to understand your exit strategy, which is just a fancy way of saying 'How do I flog my coins?'  With silver, buying and selling to dealers isn't cost effective, so your exit strategy for silver will have to be based off selling back to the secondary market.  Therefore you have to pay attention to liquidity - i.e. what people will buy, and at what price you can make a quick sale.  As a starting point, think of tubes of 1oz coins, and bars in the 10 oz to 1kg range.  Take a look in the UK ungraded section for sales to get a sense of the going rate for these on the open market.

Consider also buying gold in the portfolio, unless you really want to bet on silver going to the moon.  The folks in that video are notorious for circulating clickbait about how silver is about to jump in price, and have been running this schtick for years now.  

A rational-talking silver stacker, that's what I like 👍. Seems almost novel after spending a couple of hours on YouTube.

[Scuzzle]

17 hours ago, olddigger said:

Hi Cazlikes coins. Apologies in advance, complete noob here. I am interested in silver UK. How would you go about buying if you were starting out. I'm looking at 5 to 10 year investment of say 20k and 1 to 3 year for 10k. Is it best to buy bars and store them offshore? or britannias and store them at home? Apparently it's best to buy coins privately on here to avoid tax?  I want to get into metals but there's so much to learn and so many variables my heads in a spin.

Best way I think for someone today to buy silver is on here in the sales section from a trusted seller.  Sadly you have missed the boat on VAT free and margin scheme VAT silver so that added 20% is something to contend with straight away.  If you are in the UK you get the capital gains tax benefits from stacking UK bullion but at the rate they keep changing the regulations and reducing the threshold that might not be an advantage for long but I would still recommend stacking the sovereign bullion coin of where you reside.

You just bide your time and snap up sales of tubes of Britannias and 10oz Britannia bars when they come along at the right price on here and this will get you better deals than from bullion dealers but as others have said if you don't already have a position in gold I would get one as there is no VAT on that and it's a tier one asset that's only going to increase as the world devolves into madness.  Silver will break out one day as it's fundimentals are all excellent but it's such a tiny market and the world is so awash with paper currency and corruption it's hard to predict when that day will come.  The demand for silver for this green futture we are embracing is undeniable so it should see the same short squeeze scenario that platinum and palladium did when they were required for catalytic converters.

Bitcoin is worth considering also but just be wary of the inevitable rug pull that always comes, we are in a Presidential selection cycle and assets are always pumped in the run up to this and always usually immediately dumped afterwards, can't blame the new guy he's only just taken office, can't blame the old guy the markets were at all time highs when he was in the big seat.  Gold and silver can never go to zero they will always have some kind of worth which is another reason they are a great addition to a financial portfolio.

Also I would store everything in your own posession if possible, hide it away well, another benefit of holding precious metals is there is no counter party risk, your asset is not someone elses liability.  If you store it or vault it somewhere you add counter party risk, you run the risk of someone stealing it or having it confiscated if the government decides to change the rules one day.

Edited March 26 by Scuzzle

[Silverlocks]

2 minutes ago, bluemoon said:

A rational-talking silver stacker, that's what I like 👍. Seems almost novel after spending a couple of hours on YouTube.

Mostly gold, a bit under 15% silver by value, and largely collectibles (quite a bit of Perth Mint, Germaina, KOMSCO etc.) rather than straight bullion.  The gold is much heavier on low-premium bullion, mostly sovereigns.

[CazLikesCoins]

2 hours ago, olddigger said:

( Ohh I like that! and 'I think I'll treat myself' ) sounds like me in a record shop ha ha. cheers for the input, much appreciated.

Good luck with the silver collecting.  Tbh it'll probably never be worth investing in but its fun to have and pass on to the kids. 

[HonestMoneyGoldSilver]

20 hours ago, olddigger said:

Hi Cazlikes coins. Apologies in advance, complete noob here. I am interested in silver UK. How would you go about buying if you were starting out. I'm looking at 5 to 10 year investment of say 20k and 1 to 3 year for 10k. Is it best to buy bars and store them offshore? or britannias and store them at home? Apparently it's best to buy coins privately on here to avoid tax?  I want to get into metals but there's so much to learn and so many variables my heads in a spin.

It depends what you want and your outlook as an investor

If you want exposure to the SPOT PRICE of silver and you have faith in the financial system, then buying vaulted silver is the way forward. You are liable for 20% VAT when you receive physical possession of the silver so using a vaulting service avoids VAT completely (no physical possession). You can use offshore vaults in different currencies (USD, AUD, CAD, Euro, Yen) if you want to but those are really two separate investments - one in FX and another in precious metals. There are plenty of onshore vaulting options

If like me and quite a few people here the last thing you want is "paper silver" then you want exposure to the PHYSICAL PRICE of silver, which is related to but not the same as spot price

Like others have said, gold is historically a superior investment to silver and it looks like this trend will continue for the foreseeable future. The gold bugs and investment gurus will give you some options when it comes to precious metals. A defensive or conservative investor will buy mostly gold (65%+) along with silver and other metals (35% or less). An aggressive or risk-seeking investor will run the reciprocal with 65%+ in silver and 35% or less in gold. The market cap of gold is enormous, roughly $15 trillion, so gold is less volatile than smaller markets like silver, with a market cap of roughly $1.5 trillion

There are plenty of great deals on TSF for both metals which provide appreciable savings over bullion dealers. You can make money when you buy, you can make money when you sell or you can be a wise guy and make money doing both. If you save 3-10% on the premiums for gold by buying on TSF that's giving you a nice cushion against spot price falling, with spot price being a much tighter measure of the price of physical gold than physical silver

When buying physical gold or silver the CGT-exemption becomes more important the more money you invest. You don't always have to buy CGT-exempt products (anything with a monetary face value like £1, £2, £100 is CGT-exempt including Britannias, Queen's Beasts and many others). You can buy foreign gold or silver and it might go up in value more than the CGT liabilities but if you want to be as safe as possible then buying CGT-exempt metal is the best option. CGT-exempt metals also save hassle with paperwork and HMRC

[HonestMoneyGoldSilver]

Bitcoin is a totally separate asset group from gold

BTC is risk-ON

Gold is risk-OFF

To equate the two shows a fundamental lack of understanding of financial markets but people in crypto don't care about fundamentals. The entire strategy of BTC in particular is a propaganda campaign. You'll find the vast majority of those who promote crypto merely parrot what their false prophets have told them to parrot. In many ways it is a "greater fool" asset, a ponzi scheme, with the only way to make money from it being to sell to the "greater fool" for a higher price than you paid. Bitcoin has zero utility. Precious metals have genuine functions from jewellery to medical devices (gold nano-tech) and electronics. There is gold and silver in every iPhone, there is no Bitcoin in your phone or computer

Crypto has only been around since 2008 whereas gold and silver have been money for thousands of years

I get triggered by the crypto evangelists. It's not that I don't own some crypto but those who claim you should dump all your money into it are disgusting individuals. It's never appropriate to put all of your financial eggs into one basket

I am not giving investment advice here but most reputable advisors might tell you to put 10-25% of your investment portfolio into gold and precious metals while putting 1-5% in crypto. If you come across someone (like that greedy clown Robert Kiyosaki or the false prophet, Michael Saylor) telling you to put the majority of your funds into crypto, avoid them like the plague. They do this for one reason only - the more YOU put into crypto, or BTC in the case of Michael Saylor, the more money THEY make. It's as simple as that, a ponzi scheme with the false prophets issuing decrees from the tip of the pyramid

[olddigger]

On 26/03/2024 at 11:11, Silverlocks said:

Rule #1 of buying silver in the UK - VAT really ganks the value of investment in silver.  Buying and selling through conventional dealers will get you a spread of 30% or more, which makes it not worth doing this way.

But . . .

You can buy and sell on the secondary market at manageable spreads.  If you keep an eye out here and the various other places where folks buy and sell silver, you can buy and sell at a far more sane spread.  The going rate for 1oz coins is somewhere about £23 (give or take - maybe a little more with silver going up), and there are people you can buy from around this price point.  Bars in the 10 oz to 1kg range are also worth buying at the right price. 

You need to understand your exit strategy, which is just a fancy way of saying 'How do I flog my coins?'  With silver, buying and selling to dealers isn't cost effective, so your exit strategy for silver will have to be based off selling back to the secondary market.  Therefore you have to pay attention to liquidity - i.e. what people will buy, and at what price you can make a quick sale.  As a starting point, think of tubes of 1oz coins, and bars in the 10 oz to 1kg range.  Take a look in the UK ungraded section for sales to get a sense of the going rate for these on the open market.

Consider also buying gold in the portfolio, unless you really want to bet on silver going to the moon.  The folks in that video are notorious for circulating clickbait about how silver is about to jump in price, and have been running this schtick for years now.  

That's fantastic advice. There are so many variables to consider and these YT vids really throw you off the scent.

Thanks for taking the time to leave such a detailed response, I really do appreciate it.

[olddigger]

On 26/03/2024 at 14:56, HonestMoneyGoldSilver said:

Bitcoin is a totally separate asset group from gold

BTC is risk-ON

Gold is risk-OFF

To equate the two shows a fundamental lack of understanding of financial markets but people in crypto don't care about fundamentals. The entire strategy of BTC in particular is a propaganda campaign. You'll find the vast majority of those who promote crypto merely parrot what their false prophets have told them to parrot. In many ways it is a "greater fool" asset, a ponzi scheme, with the only way to make money from it being to sell to the "greater fool" for a higher price than you paid. Bitcoin has zero utility. Precious metals have genuine functions from jewellery to medical devices (gold nano-tech) and electronics. There is gold and silver in every iPhone, there is no Bitcoin in your phone or computer

Crypto has only been around since 2008 whereas gold and silver have been money for thousands of years

I get triggered by the crypto evangelists. It's not that I don't own some crypto but those who claim you should dump all your money into it are disgusting individuals. It's never appropriate to put all of your financial eggs into one basket

I am not giving investment advice here but most reputable advisors might tell you to put 10-25% of your investment portfolio into gold and precious metals while putting 1-5% in crypto. If you come across someone (like that greedy clown Robert Kiyosaki or the false prophet, Michael Saylor) telling you to put the majority of your funds into crypto, avoid them like the plague. They do this for one reason only - the more YOU put into crypto, or BTC in the case of Michael Saylor, the more money THEY make. It's as simple as that, a ponzi scheme with the false prophets issuing decrees from the tip of the pyramid

Again fantastic advice. I am not a fan of crypto either I just prefer the idea of metals as it's like you say older than the hills and its tangible. I've seen loads of Robert Kiyosaki yt content and i'd have to agree with you for sure. Once again thanks ever so much for the input. 

[Silverlocks]

16 minutes ago, olddigger said:

That's fantastic advice. There are so many variables to consider and these YT vids really throw you off the scent.

Thanks for taking the time to leave such a detailed response, I really do appreciate it.

I'd take anything from American youtubers with a grain of salt.  Silver doesn't attract VAT in the US and spreads on it are much more sane, so it's much easier to stack silver cost-effectively there.  Here in the UK the tax situation is very different.

Edited March 28 by Silverlocks

[pmbug]

Why is the UK taxing money anyway?  You guys and gals need better lobbyists!