Guide to buying silver in Australia (resurrected)

Thanks Goldpelican. I have been looking into stacking for the last week or so and your post was a very helpful.

I was originally looking at a 1kg bar, but am now thinking 10oz may be the safer option if the price does skyrocket, despite the higher premium.

 

does anyone know of anywhere that sells silver at a good price other than the perth mint?
cheers

 

Have you read this post yet
And than checkout the site sponsers
All depending what part of the world your from

 

sorry i ment to say, somewhere in perth, prefer walkin sales

 

Check the site sponsers ,I think only Bullionbourse is the only other option , can't remember if they have a shop

 

heya cheers, i have had a look at there site, good prices, they allow pickup, but i dont think you can just walkin and say ill have that.

i have emailled them, but does anyone know if you can place an order online, and pay and collect instore?

 

When does buying silver and selling it etc turn from a Hobby into something I have to declare as income tax ? if i sell it at a loss can I put down on my income that that I've made a loss ?

 

also do u only declare income on it after its sold or on the value at the end of the financial year ?

say uve spent $3000 over the course of the year on 100 oz of silver but come july its worth $5500 do you declare it then or do you declare it after u sell it ?

 

it is taxable only when its sold
but get proffessional advice

 

From the SS website alone, there is a wealth of knowledge. Do a search here on capital gains tax - as that is what applies in the year it is sold. Unless your regular income is derived from selling bullion.

 

Has anybody ever had problems with KJC before?

I put in an order and paid last friday, and am yet to receive payment confirmation or a response to my emails.

 

Have you filled out the account registration and sent in verified copys of your ID?

 

Just to explain a little more, you have to fill out the paper registration form, download from their site, fill it in and send with your ID, that should sort it out.

 

Yep, did all that the other week and received my application confirmation.

 

Give em a buzz on the phone mate, nice people, they will get it sorted.

 

No worries, thanks man, will give them a call in a minute. Probably better sorting it now, than leaving it.


Edit: You were right, lovely people. Everything was in order, my confirmation email was just overlooked or something.

Thanks again for the help.

 

I bought a 10 oz Australian Kookaburra silver bullion coin, year 1992. I measured the tickness of the coin and I found a value less than the indicated value of 8,7 mm. The diameter and the weight seem ok. Moreover the edge of the coin is not all reeded, but only four parts of the edge are reeded, that is the edge is partly reeded and partly smooth. I wonder If the coin is fake or not, could you help me please?

Thanks!

 

Quite a good guide. Well considered and sensible. Now I just have to find a fair way to buy and sell. I can't see myself getting gouged coming AND going by dealers.

 

Great read, thanks! Puts the jargon into English for us newbies.

 

Checkout my Numismatc Coin Videos on my YouTube Channel on Numismatic Coins:

<removed>

-Numismatic King