Whatmuff Posted December 11, 2016 Report Share Posted December 11, 2016 (edited) Good evening all, I'm starting to invest in a little silver, any PW members into this at all? And that's physical silver not the stocks. Ta Edited December 11, 2016 by Whatmuff Quote Link to comment Share on other sites More sharing options...
Billy. Posted December 11, 2016 Report Share Posted December 11, 2016 Buying silver and 'the stocks' is pretty much the same thing. The value of your silver is reflected in the market price. Taking delivery of cheap physical commodities would actually be harder to sell at a good market rate, rather than just trading spot silver. Personally, if I wanted to buy a few KG of silver, I'd trade it. One hell of a lot less hassle and you can sell it almost instantly at the market price you see. Quote Link to comment Share on other sites More sharing options...
Me matt Posted December 11, 2016 Report Share Posted December 11, 2016 The latest PW investment trend was whiskey barrels 🤔 Your telling me I need to off load the 30 barrels o just bought and buy silver? 😂 Silly PW investment bods. Quote Link to comment Share on other sites More sharing options...
Wb123 Posted December 11, 2016 Report Share Posted December 11, 2016 My brother uses a 1kg bar as a doorstop. More for novelty value though, he invests in shares for a living and seems to favour silver producers when he thinks the price of silver will move. Quote Link to comment Share on other sites More sharing options...
Whatmuff Posted December 12, 2016 Author Report Share Posted December 12, 2016 Whiskey barrels ay, ha haven't got room for those. I can't see the point in buying shares in silver if I don't have it in my hands. A lot of dodgy stuff goes on with the markets these days so prepping for the end of the world!! Can see silver as a good long term investment say 20-30 years if not longer. Property is no longer safe and overpriced, and keeping cash in the bank gives you no return, running out of safe investment options. Quote Link to comment Share on other sites More sharing options...
Vince Green Posted December 12, 2016 Report Share Posted December 12, 2016 Since silver has not increased in value for years why on earth would you want to? Its worth less per ounce now than it was five years ago. The main market for silver was the photographic industry, so now that has collapsed there is little prospect in a recovery for the future. Quote Link to comment Share on other sites More sharing options...
Whatmuff Posted December 12, 2016 Author Report Share Posted December 12, 2016 I know it's gone down in the last five years, it was nearly £28 an ounce at one point however it's fairly low at the moment. I think precious metals are worth investing in now and I'm not doing it to make any quick money it's a long term interest. What happens to the price of a new car over ten years? It goes down in value at an astronomical rate! Silver iscreen used for electronics, medical and jewellery to name a few and there is only so much of it left! Quote Link to comment Share on other sites More sharing options...
Whatmuff Posted December 12, 2016 Author Report Share Posted December 12, 2016 Jesus, that's worth upwards of £500 mate I'd replace that and have it away! My brother uses a 1kg bar as a doorstop. More for novelty value though, he invests in shares for a living and seems to favour silver producers when he thinks the price of silver will move. Quote Link to comment Share on other sites More sharing options...
Vince Green Posted December 12, 2016 Report Share Posted December 12, 2016 (edited) The reason for the drop in silver is down to a big drop in demand. World wide the photographic industry used to use thousands of tons a year, it was the biggest overall consumer of silver and that has virtually all gone now. There is no long term prospect of the market ever recovering IMHO. Also, the 'value' of silver may be £x per ounce but if you take a few ounces to a bullion dealer he will not give you anything like that for it. That's why he's got a Rolls Royce parked outside and you haven't. He knows that if you don't accept what he offers you have nowhere else to go. Edited December 12, 2016 by Vince Green Quote Link to comment Share on other sites More sharing options...
four-wheel-drive Posted December 12, 2016 Report Share Posted December 12, 2016 Some years ago I was going to start buying some silver coins but what really annoyed me was if I bought a silver coin I had to pay 20% VAT on it if I was well off and could afford to buy a gold one there is no tax on it at all apart from that the people who make money at this are the dealers once there profit has been deducted you would need to keep it for about 50 years to make anything out of it. Quote Link to comment Share on other sites More sharing options...
Whatmuff Posted December 12, 2016 Author Report Share Posted December 12, 2016 I had a look into that, and your right. Spot price of silver per oz is currently around £13 however to buy a oz coin is around £20 in the UK as the VAT and mark up which is pointless as you would need a massive increase to make any money at all. So I bought a load from Germany for around £16 an oz which is a much cheaper alternative. Mmm what did the photographic industry use silver for? Quote Link to comment Share on other sites More sharing options...
Rupert Posted December 12, 2016 Report Share Posted December 12, 2016 (edited) Gold is vat free. And set to rise as brexit uncertainty rises. IMO. Edited December 12, 2016 by Rupert Quote Link to comment Share on other sites More sharing options...
Vince Green Posted December 12, 2016 Report Share Posted December 12, 2016 (edited) I had a look into that, and your right. Spot price of silver per oz is currently around £13 however to buy a oz coin is around £20 in the UK as the VAT and mark up which is pointless as you would need a massive increase to make any money at all. So I bought a load from Germany for around £16 an oz which is a much cheaper alternative. Mmm what did the photographic industry use silver for? Silver halide is light sensitive, it only turns black once it has been exposed to light. That's how film and photographs worked. People like Kodak, Fuji, Agfa and 3M bought most of the silver that was being produced world wide. But it wasn't just photos, offset printing, medical X Rays all used silver but not any more. That's why the silver market is flat. But a bullion dealer won't give you anything like spot price for your silver because he has to resell it himself. Edited December 12, 2016 by Vince Green Quote Link to comment Share on other sites More sharing options...
Mungler Posted December 12, 2016 Report Share Posted December 12, 2016 It's a dead investment. If you buy shares you get the chance of capital appreciation and dividends. If you buy property you get the chance of capital appreciation and rental income. With a silver stock pile there's only one way to make any money on it. The only dead investment precious metal worth looking at is gold when there is massive economic instability or the threat of war and when everyone bails out of existing currencies fearing that they may fail or fall and preferring something they can shove under the bed and trade / spend anywhere in the world. But saying that you'd be better buying a solid gold swiss watch - that's a triple winner as given the above scenario people bail into the safe Swiss Franc driving the price of Swizz exports up, if the price of gold goes up then that too will drive the value of the watch up and on top you have a nice watch you can wear and use everyday. Two years ago I bought a solid gold submariner watch (second hand but with box and papers) from a shop in Italy when the Euro Pound was at 1.4. That cost me £8k GBP and that watch is now worth maybe £12k (or £14k / £15k out of a shop window). Quote Link to comment Share on other sites More sharing options...
Billy. Posted December 12, 2016 Report Share Posted December 12, 2016 (edited) I had a look into that, and your right. Spot price of silver per oz is currently around £13 however to buy a oz coin is around £20 in the UK as the VAT and mark up which is pointless as you would need a massive increase to make any money at all. So I bought a load from Germany for around £16 an oz which is a much cheaper alternative. Mmm what did the photographic industry use silver for? Honestly, if your interest in silver is just to hoard a load of metal at home with the impression that as it goes in iPhone screens, therefore it must be in high demand, then I think you should reconsider your investment. It sounds to me that you're choosing silver because it's a cheap precious metal. Unless you're buying it by the tonne, you're purchasing a fancy paperweight. Especially if you can't see the benefits of trading it over purchasing the physical commodity. Mung is right. A watch is a good investment and you actually get some use out of it. I'm not a fan of gold watches, so I'd probably buy coins/bars if someone forced me to buy gold (I can see a return buying a decent amount of gold, but not silver). As mentioned though, I'd rather just open a trading account and not have to deal with getting it delivered, storage and then the headache of finding a buyer, whilst the world is trading gold on a five point spread of the spot price. If you want a metal worth investing in, have a look at Lithium. It's trading at the same price as silver. You won't be keeping that at home though! In other news, bitcoin went through the roof after Trump got elected. I'm sure I mentioned that in another thread Edited December 12, 2016 by Billy. Quote Link to comment Share on other sites More sharing options...
four-wheel-drive Posted December 12, 2016 Report Share Posted December 12, 2016 It would not be so bad if we did not have to pay that 20% vat on it but that is how this country works if you have lots of money then you can buy gold vat free but what normal person can buy it at getting on for £1.000 per one once I got my money in a Santandare 123 account getting something like 3% interest. I would never trust stocks and shares even if I could afford if you have a lot of money then property or land is the no loose choice unless there is a plague that kills of millions of people there will always be a shortage of homes for people to live in so the price of houses will never go down. Quote Link to comment Share on other sites More sharing options...
Billy. Posted December 12, 2016 Report Share Posted December 12, 2016 so the price of houses will never go down. I pray you're not a financial advisor. Quote Link to comment Share on other sites More sharing options...
four-wheel-drive Posted December 12, 2016 Report Share Posted December 12, 2016 I pray you're not a financial advisor. I am only talking about the uk can you see our house prises ever going down with all of the extra people comming in every year where are they going to live tents. Quote Link to comment Share on other sites More sharing options...
Billy. Posted December 12, 2016 Report Share Posted December 12, 2016 I am only talking about the uk can you see our house prises ever going down with all of the extra people comming in every year where are they going to live tents. It's less than ten years since the last crash. Is immigration really your only reason for house prices going up and never going down? Quote Link to comment Share on other sites More sharing options...
B25Modelman Posted December 12, 2016 Report Share Posted December 12, 2016 Invest in French gold Quote Link to comment Share on other sites More sharing options...
old'un Posted December 12, 2016 Report Share Posted December 12, 2016 If you want to get into buying and selling precious metals why not advertise for old scrap gold and silver? Quote Link to comment Share on other sites More sharing options...
AVB Posted December 12, 2016 Report Share Posted December 12, 2016 Unless you have a complete lack of confidence in the financial markets, and you want to use physical commodities in a doomsday scenario for bartering, I can't understand why anybody would bother holding physical commodities. Too much hassle. Buy a fund that invests in that asset or companies that are associated with mining it. Quote Link to comment Share on other sites More sharing options...
Billy. Posted December 12, 2016 Report Share Posted December 12, 2016 Unless you have a complete lack of confidence in the financial markets, and you want to use physical commodities in a doomsday scenario for bartering, I can't understand why anybody would bother holding physical commodities. Too much hassle. Buy a fund that invests in that asset or companies that are associated with mining it. I mean.. All these people saying they don't trust the markets will go and buy a load of precious metals and hold them at home, but don't consider that the price of that gold is set by the market they had zero trust in It's as if people think there's a separate price for the 'traders and stockbrokers' to what you get if you own a bar of gold and go to sell it. (Well there kind of is a difference, but it's what the buyer will be charging on top of the market rate to make their profit) Quote Link to comment Share on other sites More sharing options...
B25Modelman Posted December 12, 2016 Report Share Posted December 12, 2016 It depends on needs and wants. Do you need to make a lot or just a little to cover playing costs. You don't have to select precious metals for that. A good eye, a bit of know how and some luck buying and selling anything can make you enough to keep you in cartridges for a year or so. Quote Link to comment Share on other sites More sharing options...
Old farrier Posted December 12, 2016 Report Share Posted December 12, 2016 Hi Interesting thread 😊 Just wondering if it's that easy to do i.e. Make money on the stock market How come so many endowments and pension funds managed by experts Have lost money 💰 Although this is probably a slightly different type of investment It seems to me that a broker or financial expert is the same for both All the best Of Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.