well my first 250g bar came today from baird and co and its a great little bar,waiting on 8 1oz bars but i want more larger bars like 250g or 5-10oz as they seem better,firstly can i ask something you have all answered a hundred times how exactly should i store my bars ? it comes in a nice plastic packet but will it stay shiny and not get any marks in there or does anyone have links to proper covers for them ? been watching mike maloney and he is very good but its quite confusing after a while lol just trying to learn a little bit, he seems to say it goes up every once in a while in price then plummets, are we currently at a cheap time for buying and hopefully only 1 way to go lol, only asking cause i have 500 and instead of putting in bank may invest some more into silver as enjoying reading and learning and seems better than interest at the bank Thanks Dean
Nursing my current losses on silver I would buy 4 gold half gold sovereigns with your spare fiat. As for keeping silver shiny, don't unwrap it in a room where someone smokes. Suggest a ziplock or similar bag and if you have a small packet of silica gel dessicant place this in with your silver.
I couldn't help ripping the packet off my first 250g. I just had to touch and caress it for a while. It's back in a bag now, and my coins and stuff I keep in capsules. As for your spare money buy a bit of both. I know golds a lot dearer, but at least you don't pay vat on it.
I second Photonaware, buy UK gold. In view that you've only started stacking recently and the amount of cash you have, personally I would be buying gold for the time being, especially in this dip. Its also less risk than silver and VAT free. I've been stung by silver recently, but my gold is my bedrock.
thanks for advice everyone, it is in a nice plastic bag at the moment so going to keep it in that for time being maybe buy some silica gel desicant if i can find some, so is silver price very low now in comparrison to what it has been ? gold is just so expensive thats all for small amounts, what gold coins or bars would u recomend ? thanks Dean
just been looking at 10-20 year silver price charts and seems pretty high at the moment, was at 4-5 usd at some points and on way down again, u think will drop that low any time soon ? Dean also look at my post above thanks
Hi Dean, I am wearing the tee shirt for gold and for silver. Yes, gold per gram can be up to 60 times the cost BUT consider this - You are paying a premium on silver PLUS 20% VAT. Yes, silver may be a very good buy right now compared to last year but it has to rise a good bit before you are going to get your money back unless you are really fortunate selling to a newbie on eBay. A trader in bullion will only pay you spot so you are already factoring a potential 25% loss. Gold is VAT free and if you buy say full sovereigns they can be bought for 3% above spot and sold for spot to bullion dealers with instant payment. If you cannot sell for London fix you will worst case get 98% spot on the day. So only a swing of 3 to 5% covers you. I am beginning to regret buying silver as on average I am losing 30% but my gold has never lost money. As they say in financial blogs past performance is not a guarantee of future performance and you may loose some or all of your money. If I was starting again today knowing what I now know then I would split my purchases between gold and silver but being very careful on what I pay to spot so do your homework and don't overlook the cost of shipping which can be high on small purchases.
ok thanks, think i will start buying small 1g gold bars aswel as silver, think still going to keep buying silver aswel though, i want to stack for year maybe until retirement but hope prices dont drop so i loose out, thats y i was asking if prices are currently high or low.i totally understand what ur saying about the VAT on silvers its rediculus, do u think everyone will panic and precias metal prices will start to rise very high ? think my next purchase might be 1g gold thanks for advice very helpful
Stick the silver in an acidic free bag. One possible kind of bag you can use is a mylar bag - that is, the high grade bags that people use to preserve old comic books and to preserve food. These are a decent size for most bullion. Also think about something like anti-tarnish strips: http://www.silverguard.com/c-9-3m-anti-tarnish-strips.aspx Finally, as mentioned, consider an anti-dessicant like silica gel to absorb moisture.
If you have no other money in the bank I'd be putting it into a bank. You don't want to have to sell physical when you don't want to when unexpected expenses arise. That's just my opinion.
