Hi everyone, I'm new to the bullion scean. Really just want to amount enough to pass on to my kids when I'm dead and gone. Looking for best deals , in the UK I see we have a 20 percent tax on silver but none on Gold. So I'm a long term investor in a way. What I don't understand is the markets show silver at say 31 pence per gram but you buy it it's nearly at 90p . Why is there such price differences between the markets and the sellers? Any advice will be appreciated
welcome and good luck. there is always a difference between physical and paperprice. the difference you have to pay for coins and bars is called premium http://forums.silverstackers.com/topic-67235-premiums-on-silvercoins.html buy your bullion in germany, you only have to pay 7% tax whicj is already included in your buying price. importing silver within the EU there is no additional tax you have to pay. importing from AU or US is different for you. you have to pay GB tax on import
Out of curiosity I found nadir silver , a Turkish brand on eBay. Does any one have any idea how good this brand is as it seems very cheap compared with the rest.
Welcome Jordan, the price above spot is the "premium". That premium generally varies based on the type of product you buy. If you are buying coins you will generally be paying a higher premium than if you were buying blobs (non-denominated, common, generic bullion bars and rounds). Neither is necessarily a better buy...it really just depends on your beliefs and strategy. The more you learn, the better equipped you will be to knowing what, where, and when to buy. This forum is generally a good place to get good info; lots of varying opinions here and so you can get a glimpse of different thinking and beliefs. We definitely don't all hold the same beliefs. Welcome to the club and good luck with your stacking journey! .
You have come in at a very good time with silver spot prices at historic lows. I wish you well in this wild adventure of yours.
I am looking forward to the adventure I have bought a few pieces of silver and a little gold . Silver really is cheap I was surprised at the price between silver and gold is there any reason other than supply and demand factor? Any expectations of it rising soon?
Now there is the question, will it rise soon. You will likely start a lively debate with that one. I may leave that to the vast majority here who often discuss that one here regularly. The difference in price between silver and gold is fascinating and based mainly on the gold / silver ratio. You should do some research on that subject but a word of warning if I may. Please do be careful who you listen to, particularly on youtube. There is a lot of differing opinion out there and a massive amount of deception from the charlatans also. In a few years you will have your own firm opinions based on your own experience and this will be the most valuable opinion for you. This forum is the best place, I have found, for sensible, balanced and honest debate on the subject.
I believe it's because silver has a real industrial use and therefore behaves more like a commodity, while gold has no real utility (except a small percentage related to jewellery) and it's used mainly as "money". And it's not a good time for commodities right now....
Yup great timing! Silver spot price is about the same as what it costs silver miners to mine it. So they are taking it out of the ground and processing it for you at no charge! Kinda hard to beat that deal!!!!
If you're stacking in the UK, stick to gold. Most forms of investment-grade silver is subject to VAT when sold or imported into the UK, where gold can be sold/imported without VAT.
Have you got some RELIABLE DATA to back that up? It is a favourite quote from "the pumpers" yet they never show the proof. Do you also believe a house will be purchased for 5 ozt's of silver in the near future? How do they manage to produce copper so cheap? An oz of minted copper costs many dollars yet only a few dollars a pound unminted Do you really believe the silver we buy at $2 over spot is LOSING the producers money?
Not to tough to research. Last year all in costs were about $19.50. This year they are roughly 14.50. Keep in mind this is for primary silver miners that account for 25-30% of annual supply. Many hereare aware of these figures.
Sorry mate but i do not buy it. I am not going to try and persuade you otherwise. You have your views and you are welcome to them, but i would absolutely contest there validity
I have researched it mate and i know for FACT your numbers are misleading. I like how you said "primary" silver producers. That alone shows me your intent. Most silver is mined via "non primary" sources and this dramatically reduces over all costs. I have heard all the hype about price , and i will have a look when i have the time and see if you have made similar comments about "all in costs being close to production" when price were in the $30's. It's an old story that will just not die, but it is great for selling the metals. EDIT:i see my search will not take long as i shall only have 180 comments to read through. Do not buy the hype mate, and if you post some figures from mines that would sway my opinion if they back your theory
Ok here is just a couple I found quickly which are probably just fictitious exaggerations and Yes I was talking about silver miners not copper minors selling byproduct silver who have indiscriminate all in costs for the by products, http://seekingalpha.com/article/2882886-gold-and-silver-headwinds-lower-mining-costs Great Panther Silver Lists Record Production In Second Quarter Thursday August 6, 2015 8:22 Great Panther Silver Ltd. (TSX: GPR; NYSE: GPL) posted record production in the second quarter but ended with a net loss. The company lists record production of 1,088,355 silver-equivalent ounces, up 51% from a year ago. Silver production increased 54% to a new quarterly record of 648,810 ounces. Still, the company lists a net loss of $4.7 million, compared $4.5 million in the year-ago period. Although revenue, gross profit and cash flow from operations all increased, the company ended with a net loss due to the impact of a $3.8 million foreign-exchange loss, a $1 million increase in amortization expense, and an increase in exploration and evaluation expenditures as a result of certain Cangold and Coricancha transaction costs which were not capitalized, Great Panther says. "Improved grades, record production and the strengthening of the U.S. dollar all contributed to the strong financial results and to significant reductions in our cash cost and all-in sustaining cost," states Robert Archer, president and CEO. "Based on the strength of our results year-to-date, we are pleased to announce a decrease in our cash cost and all-in sustaining cost guidance for 2015 which accompanies the increase in production guidance issued in early July." Cash cost per silver ounce decreased 56% to $6.63, while the AISC decreased 49% to US$12.54. Cash cost guidance for 2015 was reduced to between $9 and $10 from $11.50-$12.50, and all-in sustaining costs were cut to between $15 and $17 from $18.50 to $19.85. By Allen Sykora of Kitco News; [email protected]
How can a mining company say its cost of production is less than spot when said company does not make a profit in any given year? Most PM bears who like to say the cost of production is very low never can answer why said companies take losses every year. Any who make such claims never owned their own businesses but were probably workers (employees), thus they don't understand that for-profit enterprises have expenses that must be taken into account before one can say they've made a profit in any given year (and thus how to properly analyze its costs to reach said profits or lack thereof). I've even seen some foolishly make claims such as "the local government subsidizes said mining companies, so their costs of production don't matter" and such. That statement is akin to the lazy, US citizens who like to collect welfare and think the money they receive comes from the government "money fairy", as if it is printed in the back room somewhere (OK, that is probably true, LOL). Also, it is FACT that several mining companies around the world are laying off miners and are NOT doing new development at this time. Soon, if prices stay low or go lower, you will see mines being shuttered, which happened quite a bit in the 1990's, etc. Remember, even non PM metals are depressed in price, such as copper, etc. The famous retort from non-believers in real cost of production, is that non-primary silver miners' costs for silver are irrelevant because the silver is basically a "free goodie" found while mining the other stuff. Unfortunately, those making this claim fail to realize the prices of base metals and other non PM's have dropped a lot too, so even if silver is a "free goodie" the company still is losing money because their other primary metal is losing value, especially the copper mines. It doesn't take much research or time to see what any PUBLIC mining companies' gains/losses are. If they show a loss and say their cost to mine an ounce of silver (or whatever metal they mine) is below spot, I would not believe their numbers. Back a few years when silver was well above the mid 20's, many mining operations were started that might not have been had silver stayed low. Some of the companies, I opine, thought the prices would stay high and go higher and took a risk. PS Here are just a few quick links to show mining companies of ALL types are facing issues due to lower prices for PM's, rare earth metals and base metals. Even companies that make mining equipment are laying off, due to lower orders from the mining companies. Layoffs are NOT a sign that said companies are getting their metals cheaply (compared to spot) in my opinion. http://www.ktvq.com/story/29805977/stillwater-mining-announces-massive-layoff http://www.wsj.com/articles/miners-shed-thousands-of-jobs-as-commodities-prices-slide-1437740084 http://www.mprnews.org/story/2015/07/29/iron-range-layoffs http://www.azcentral.com/story/mone...g-hayden-smelter-slowing-ray-mining/71327902/ http://www.reuters.com/article/2015/08/27/us-caterpillar-layoffs-idUSKCN0QW29520150827 http://mg.co.za/article/2015-08-13-job-cuts-backlash-pits-mining-ceos-against-zuma http://www.wsj.com/articles/zambias-copper-mining-boom-is-under-pressure-1441383902 http://latino.foxnews.com/latino/ne...oran-lays-off-more-than-650-workers-in-chile/ http://af.reuters.com/article/metalsNews/idAFL5N11A25J20150904 http://www.pe.com/articles/rare-778407-sims-mine.html I could go on and on, but don't want to use up too much bandwidth. LOL! I wish I could post a link that shows exactly what it costs a mining company to pull an ounce of metal (when you include all company expenses, etc.), but I can't. The above links do show the mining industry is suffering due to lower commodity prices. Just my opinion. Jim
