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Ah, yes. That's what I thought the last time I looked - I'm a stacker with no numismatic interest. So I didn't buy but if you get some cheap ugly lumps in, I'll be interested!

What's the linky to your online shop again?

Interesting idea. Doesn't get around VAT though, does it? Or do you buy from within the EU? It also adds a step / middle-man; brokers sometimes make things cheaper, but sometimes adding people to the supply chain makes it more expensive.

Precisement, mon ami.

It's amazing how two people can look at the same picture and see two different things. We're making slightly different points to support different viewpoints but it doesn't matter because, really, you don't care if I stack gold and I don't care if you don't.

Apologies. Since 1850, it's never risen by more than 5%. On average though, it rose by less than that per year, prior. http://www.goldmoney.com/images/media/Files/GMYF/theabovegroundgoldstock.pdf

I read a paper on it; I will see if I can find it. It was speculative but looked at technological abilities of the time and the yield on known deposits mined at the time, as well as the relative value of gold (as a marker of scarcity) and the known amounts of the more recent past. There can't...

The 'stockpile' is small - the entire above-ground supply would fit in a cube about the size of a tennis court. In no year since the birth of Christ has the growth in available gold been more than 5%. The 'stockpile' growth of humans to buy the gold, and the dollars they'd use to buy it, both...

I'd buy it at double that price! ;)

I prefer to have physical in my immediate possession, but recognise the ease and lower premiums of buying 'digital' metal. But the most risk I'd accept is an allocated account with a reputable company. I like GoldMoney but BullionVault has the advantage of being able to trade with other account...

Interesting, and I like to read counter-point articles - they challenge my thinking and stop me from becoming too entrenched. What is strange about that article is that WB invested heavily in silver a few years' back - now, he's since sold his investment off and declared he no longer holds...

Sobering thought.

At what point do people sell gold to buy silver? There are costs in the transfer of course but, at some point, it must be worth it if you think the ratio unsustainable.

The London Market moves more gold in a morning than they did last year.[1] It's not logistics. What's interesting to me is the apparent nonchalance shown by the Bundesbank. Maybe they want the gold but don't want the whole house of cards to come down by showing the world it isn't there? [1]...

If the tax has effectively fallen then, from 7% to a margin tax, while the prices remain the same... are they just making bigger profits now?

Might have to change your username soon, to.... silversteveNOTuk ;)

That's not how I understand it - please note though that I am not an accountant and my business is not VAT-registered. The first example is correct, the second I think is wrong. I think it's: Same sale but VAT registered You pay 20 for the coin plus 4 VAT so you still hand over 24 You sell for...

If there are no buyers, the price will fall. That's the nature of a market.

Well, let me know when it's up. I'd rather buy from someone on here than some random European shop. My only reluctance is I'm moving towards allocated e-silver (to avoid taxes, etc.) and physical gold. That's the best value I can find.