New to buying silver+gold, some general queries

M

Muzza

New Member
Hi all,

I've just joined the forum and have some questions on the buying of silver(and gold) in the UK.

At present i have 700 to invest in physical silver and gold bullion, over the next 3 months I should have generated an additional 1000 to invest.

I've looked at a few sites and www.thegoldbullion.co.uk seems to have the best prices and a good product range, would anyone recommend another site over this?

I know most suggest investing roughly 75% in gold to 25% in silver, but with silver's low price at present and the potential of a big increase in price sometime in 2014/15, would it be wise to be spending the majority of my small budget on silver?

I was thinking for my first order, 500g of Emirates silver but would it be wiser to be buying silver in 10oz or 250g weights? Is there significant differences between lets say Scottsdale and Umicore or is silver silver at the end of the day?

Any and all help would be greatly appreciated as because you can likely tell, my knowledge in the field is very limited.

Regards from Scotland

David
 
Forgot to add, with the small capital available to me, 5g and 10g gold bars seem like really the only option if i want to buy gold. Would you recommend this or is it only really sensible to be buying at least 20g or Oz bars?
 
The problem with silver is that you need to pay VAT on it.

Places in Europe sell silver with less VAT, but it's still way above spot.

I have bought some silver - all before VAT went up last week - but I'm switching to gold now. You can get physical gold, delivered, for a couple of pounds per gram over spot. And your metal is only worth what you can sell it for, and the best indicator of that is the spot price.
 
Muzza said:
Forgot to add, with the small capital available to me, 5g and 10g gold bars seem like really the only option if i want to buy gold. Would you recommend this or is it only really sensible to be buying at least 20g or Oz bars?
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If I was spending 700, I'd buy sovereigns and half-sovereigns.

Others may have other views.

By all means buy some silver if you want it - it's your money! I have, but I don't think it'll pan out to be as good an investment, unless the fringe (Mike Maloney, and others) are right and silver outstrips gold.
 
Muzza said:
I know most suggest investing roughly 75% in gold to 25% in silver, but with silver's low price at present and the potential of a big increase in price sometime in 2014/15, would it be wise to be spending the majority of my small budget on silver?

David
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Hey David, not sure where you got this 75 /25 % from, but I really dont think there is a rule of thumb, some only buy gold, others just silver.
Suggesty you look that the GSR to guide your decision.
Also, there is no rush, its a long term thing, so do your research and see.where you can get your metals with as little vat as possible (maybe privately from a trusted member on this site)
 
I agree about the ratio: it can be whatever you want, and the GSR can guide you. Just be aware of VAT on silver.

Also, if you get into buying a lot (or believe it's all going to the moon) than you might want to be cogniscent of capital gains tax: you don't pay this on sovereigns, half-sovs, and gold or silver britannias.

But you do on other bits of gold and silver.
 
JB3 said:
The problem with silver is that you need to pay VAT on it.

Places in Europe sell silver with less VAT, but it's still way above spot.

I have bought some silver - all before VAT went up last week - but I'm switching to gold now. You can get physical gold, delivered, for a couple of pounds per gram over spot. And your metal is only worth what you can sell it for, and the best indicator of that is the spot price.
Click to expand...

Yeah the VAT is an issue which is pushing me away from silver, but i still reckon there's money to be made on it. I've found a Singaporean trader selling ounces for 13.91, going down to 13.74 per ounce when 20 are purchased. What's the law on me buying them from there(taxes etc)?
 
Would you consider the purchase of 10 1o/z 2014 Britannias for 190 and a 10g Perth Mint gold bar for 245 a decent first investment?
 
hi muzza and welcome
the post above does not give chards a good view....but i have bought silver and gold sovs from chards with no probs and would say with my own view it has been good to me,
atkinsons bullion was the best but now has a new price plan in place ...but still a very good bullion dealer ,
from europe i use www.1oz.si good price and cheap insured postage i use this company a lot with no probs.
now it is down to you but i tend to buy silver and gold, i tend to do splits buy silver for a few months then gold, i tend to stick with silver britannia coins and sovs
hope this helps regards
 
I made a purchase of 20 silver britannia's from bullionrock (Guernsey based), so as to avoid the ridiculous 20% VAT which kills small-time silver investors like myself (or should i say prospective silver investor). Silver didn't arrive today, but a note did telling me it's at my local post office and i need to pay 71.40 to receive my silver. If I'd paid the extra 30 for UPS shipping rather than Royal Mail, would I not have encountered this problem? Or are all postage services liable to customs inspection? I'm guessing my pipe dream of VAT-free silver from Guernsey is at it's end haha.
 
yikes ...what hellish shake down the VAT is. A horrid ploy by typical progressive elites to maintain control of fiat.
the failed socialist utopia of "Euro". Is farsi the official language yet? has British tradition been defined as "hate" yet? poor bastards.
USA=Gold,Silver,Land and Guns... to your hearts content.
 
GreyGhost said:
yikes ...what hellish shake down the VAT is. A horrid ploy by typical progressive elites to maintain control of fiat.
the failed socialist utopia of "Euro". Is farsi the official language yet? has British tradition been defined as "hate" yet? poor bastards.
USA=Gold,Silver,Land and Guns... to your hearts content.
Click to expand...

The things I would do to live in a rural state, own a whole lot of land (plenty of space to bury my PMs ;) ), and own a VEPR....

Shit luck my brother has a US passport (born there) and i don't, he also has no intention of moving there anytime soon
 
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