You will always miss something. It also helps if you're a bit open-minded. Being a permabear, announcing it as such, and supporting only theories, and, or, arguments that confirm your opinion is what I'm talking about. Thanks for going through all of my "previous posts," as you apparently have a lot of time on your hands.
Hi klacey....thinking about your position in the UK with all the taxes you incur. Perhaps you should look at investing in a precious metal mining stock. If gold takes a final swing at the 1000 dollar mark, it will make a fine postion to enter the market and maximise gains. Remember the value of precious metals may double but this may mean a 10 fold increase in the profitability of the mining company so the stock roars. Bummer on the downside though....well the mining stocks are almost completely bummed out so if you can wait for a bit, you may get more bang for your buck. As for the end of the world scenario and the importance of silver etc.....well you can decide for yourself....
Hi tolly_67, luckily i thought about the VAT within the Uk and decided to buy my Silver through Bullionvault and have it stored in there vault. This way i dont have to worry about VAT unless i withdraw my silver, which i doubt will happen as i plan to sell when the right moment presents itself, im in no rush. Coins on the other hand i do have to pay VAT but im not going to go nuts on them. But i do like your idea, mining stocks maybe worth a look. I have never done this sort of thing before, so right know im going through the learning stage. But im loving it, not so much how the banks have screwed us all over, that just annoyed me. Sure be nice to get one over on them for once.
I do yes, but its very small. Its certainly less then most postage charges these days. Gold And Silver Storage Rates Metal Fees (including insurance) ETF fee for comparison per month minimum per month Gold 0.01% $4 0.033% Silve0.04% $8 0.042%
Hi Klacey and welcome from the states.My reason for amassing ag and au is the fact that the interest rates on savings here are about $1.50 per $100 per year.Not very encouraging. For the most part I have very little debt and a constant flow of capital so silver is a comfortable investment in addition to my other interests.
I suppose it depends on how many oz you are holding and the spot price, it could become very expensive. 1000 oz and spot price at $50. Would be paying $2000 per month costs. Even 500 oz at spot of $25 is a cost of $500 per month. But I suppose for ease of sale and no postage charges it might be worth it. To me though, holding this is pretty much the same as buying SLV shares. I prefer to buy physical. You should check out http://www.goldstackers.com.au/store/unallocated.html they have a unallocated program which seems to be very good.
Hi Chris, im not likely to get to that level for sometime yet. If i can get a better option i will certainly look into it. If i had 1000 oz of silver, i certainly wouldnt want it at home. lol
Chris, how did you work out those figures. I appear to be missing something 1000 oz @ $50 = $50,000. Silver monthly storage charge is 0.042% which is $21. Am i missing something? Cause $2000 charge amount seems extreme.
HA. Yea. That was a big mistake on my behalf! Sorry! I multiplied $50,000 by 0.04. I should have first divided the 50,000 by 100 to work out 1% then multiplied that figure by 0.04. So 1000oz at spot $50. 0.04% charge. Would be a monthly charge of $20. So very reasonable. lol.
Haha, i had to admit you got me worried then. I worked it out about 4 times, just to be sure. lol But like you said, its very reasonable, so will just keep buying.
