Hi just thought I would share this with you guys, I have had a hold on my wallet, waiting for the right time to purchase some more pms waiting for silver to break $18 us and gold to break $1150 us. These were my buy signals , had a big chunk to spend so wanted to get maximum metals for my paper. But I was talking to a friend from Europe, Ireland to be exact who wanted advise on how to purchase pms . Now this guy has always said that I was mad to invest in pms, no return etc etc and now he was going to purchase physical gold coins from a dealer in Ireland. I advised him to buy 1oz perth mint bars (minted type) and asked him why the change of heart. Well to put in a nut shell he is not happy with the new bank rules in Euro land. Does not not trust the Irish banks, go figure, I wonder why not (sarc). So if this guy is going to buy metals and by what he tells me several of his friends and family. I think more people are becoming aware of pms. So after speaking to him the next day, Thursday I unleashed my wallet, even though silver had popped up the night before,I spent all my spare capital on silver. Time will tell if I made the right choice.
Never said that it was time to back up the truck, just that people who had not considered buying pms were now buying them, you pick your own time to buy, this was the catalyst to my purchase. Like I said time will tell.
I think the point being that previously the same person in Ireland was anti-gold. He appears to have had a financial epiphany, and may be representative of the awakening masses.
I consider that very promising news, thanks for sharing that. I wish I could convince my family and associates but they all remain skeptical.
I have the same problem with my family/ friends, they see pms in a different light. Have tried on several occasions to open their eyes but have head little effect so far, one or two are starting to come round to pms. Not just my comments but what they are seeing/ hearing in the news etc. I live in hope. I think the old saying, you can fool some of the people some of the time etc etc.is starting to ring true.
Don't know if this applies to his part of Ireland, but shouldn't he be considering sovereigns (legal tender) as a tax advantaged option? http://taxfreegold.co.uk/wesellsovereigns.php
But they can tell you who's gunna win this seasons Master Chef, which is the bestest new Iphone App and what's going to happen to Essendon
I just now bought 200 ozs of unallocated silver at gstkrs. This thread was compelling, lol One day I will seamlessly convert it into a residential unit or a huge block of vintage cheese, with no loss of premium, as gs will have integrated that facility by then.
Sovereigns were the first thing I advised him to buy from his local coin shop. But he was not aware of any coin shops in his area. He was also afraid of fakes and was not knowledgeable enough to spot one. So he was after something that was guaranteed/ certified , so the perth mint bar seemed to appeal to him. Not sure about the C.G.T. On sovereigns in Ireland, will let him know. It might be worth his while to check it out. The rule on C.G.T. Down under is anything under $500 is free from same. So have several sovereigns stash away for a rainy day.
About a year ago a taxi driver told me he was buying big in PM's. Even Pt. Played dumb and was asking all kinds of questions and he was refreshingly knowledgeable about what was going on. Will never forget that conversation. Often wonder if he's on the forum. Most people are still oblivious and couldn't care less even after the GFC, Cyprus and numerous other ridiculous events but every now and again the odd person will surprise you like that. I have friends in Ireland who buy their PM's unallocated at the Mint with the full intention of moving here when the excrement monkeyhammers the oscillator. From what I've been told, in Ireland there's a 25% CGT cost to sell G&S but only silver gets lumped with 21% VAT when buying so can see why very few people there have an interest especially when there's no cashflow. Though they do have a 15k threshold before having to show ID.
Best not to.say shit to nobody or you might end up like some members and lose your stash. Not to say thats what happened but your better off not advising people on finances. If anything goes wrong youd look like an ass. Imagine if you convinced you mate all in at 26? Its hard enough making profit with you own investments let alone someone elses.
