Have finally switched my holdings from silver to gold. Kept a few selected pieces of silver for old times sake, but cannot stomach the 20% I have to factor with the above spot premium each time I want to add more to the stack. Thankfully most of my stack was bought in the good old days when 1oz was costing me about 10 so switch not been too painful !!!! Now going to concentrate on small gold bars and forget the 20% and the headache trying to source a good deal on silver. Did have holdinsg in silver in bullionvault as this was a very cheap way for UK stackers to buy silver. However I always had a nagging feeling about this company. Every purchase I made bullionvault was the seller and I know this because they then declare the price they offered was offered fairly over other dealers and they took no advantage to do the deal. Several sales I made bullionvault was the buyer and again I received an email with the same blurb. Never once did I do a deal with another member of bullionvault which made me wonder when the price is low all members are buyers and when the price is high members will be sellers. Me thinks there could be a problem with bullionvault when the price goes up and people want to sell, there will be no buyers because those who invest in bullionvault understand why they are in the bullion market...... Buy cheap, sell high.
Interesting. At present, I too have largely stopped buying physical silver because of the tax but continue to buy allocated silver. What was the reason for switching? All you have to do to avoid the tax is stop buying it...
I have been around buying and selling gold and silver for a long time in a hobby capacity. I enjoyed the research and the buzz of getting a good deal and of course, learning from my mistakes. Also enjoyed the nice feeling I had when I knew I had a wealth which had stood the test of time and this allowed me to put future plans in place. In the early days I to was taken along on the hype train and I waited in line ready for my ride to the moon on the back of silver. Wisdom now tells me 99% of what I read is hype and conspiracy theories and I no longer try to get drawn in. I switched because a lot of my silver holdings were in the profit region and some was not, however it gave me a chance to switch to gold whilst prices were favourable. I am sure it has further to go down, but so would silver. For everything I have read, researched and seen over the years tells me I am safer holding gold than silver given what my personal plans are for my future. Not everyone's strategy I am sure, but suits my long term plan.
I too have thought about that and considered the current GSR to reflect relative undervaluation of silver. If it falls below 40, say, I might consider switching but above that, I just alter which metal I buy - although this will change if we lose VAT-free silver from Europe. (Anyone know for sure if it has gone to 19% in Estonia and Germany?)
I stopped buying gold months ago ... If I get gold I only swap it at 1:45 silver is the metal to keep until one has millions of $ at stake
