New to silver (did I do ok?)

D

devon321

New Member
Hi there, and thanks for giving such great info on this site.

I am 24, and live in the UK. I recently became aware of precious metals (through an interest in American politics and Ron Paul) and
was really shocked to discover the realities concerning fiat debt based currency. So I have decided to start investing 300 a month of my paycheck
in silver or gold.

Through this site, the advice seems to be, collect bullion from your own country. So I have started my stack with some extra savings, purchasing 25 '1 oz silver Britannia's',
however total costs including postage were 25 per oz, or about 38$. This seems to be way above what people on this site are paying, even taking account that in the UK we pay 20% VAT on silver.

Although just checking on ebay the same coins are going for around 30 per oz, so maybe I don't have anything to worry about.

If you were in my position would you keep on buying the brits or diversify a little, bars , rounds, philharmonics(which are cheaper) etc?

I also plan on purchasing a gold sovereign a month.

many thanks for reading , and I hope to contribute to discussions in the future, any comments on my strategy or areas I could look into would be welcome.

I also plan on holding metals for the long term 15 yrs +
 
Everyone has there own little way of stacking, some love to just stack 1oz coins, some just buy bars for as close to spot as possible. Myself i do both, I love 1oz lunars and kooks, but i also like the 1kg PAMP bars so its really what you prefer.
 
Welcome devon321, from another Brit.....there are a few of us lurking.

In answer to your questgion....only you can really say. I mean, arde you going for bang for buck (presumeably not if you are buying Britannias) or do you not miond paying a little more to add diversity?

It depends upon your aims, and reasons for buying PMs in the first place.
 
Thank you both for your replies

With my stack I am really looking for bullion that is liquid, desirable and I easy to shift quickly when I feel the time is right. I don't mind paying a slight premium, I like the look of the brits and the fact that they are CGT exempt is a small bonus. However I also really like ASE's, Philharmonics and the metalor 1kg bars , yet I am worried about being able to sell these quickly in the UK, do you have any experience of selling these in the UK 'lurkalot'?.

When it comes to my goals, I invest in PM's not so much as an investment but simply as a preservation of wealth against inflation and the devaluation of our currency.
 
Thanks for the reading materials, I like the silver institute website.

any thoughts on the price of the brit's? has anyone in the UK been able to get them cheaper?

People talk about getting to know your LCS, I live in London, if anyone can recommend a place they have used.

best wishes
Devon
 
devon321 said:
Hi there, and thanks for giving such great info on this site.

I am 24, and live in the UK. I recently became aware of precious metals (through an interest in American politics and Ron Paul) and
was really shocked to discover the realities concerning fiat debt based currency. So I have decided to start investing 300 a month of my paycheck
in silver or gold.

Through this site, the advice seems to be, collect bullion from your own country. So I have started my stack with some extra savings, purchasing 25 '1 oz silver Britannia's',
however total costs including postage were 25 per oz, or about 38$. This seems to be way above what people on this site are paying, even taking account that in the UK we pay 20% VAT on silver.

Although just checking on ebay the same coins are going for around 30 per oz, so maybe I don't have anything to worry about.

If you were in my position would you keep on buying the brits or diversify a little, bars , rounds, philharmonics(which are cheaper) etc?

I also plan on purchasing a gold sovereign a month.

many thanks for reading , and I hope to contribute to discussions in the future, any comments on my strategy or areas I could look into would be welcome.

I also plan on holding metals for the long term 15 yrs +
Click to expand...


I'd say you did about as well as possible. Price is extremely competitive, coin fits your criteria and even now having been a buyer for a long time I'd struggle to do better. Don't worry too much about diversifying, I'd stick to the coins and there is no CGT on Britannias. Not yet anyway :)

Great job chap!
 
Cheers 'upandaway' for that reply.

You have put my mind at ease in regards to the price of the brits, I will continue to stack these as I like the looks.

I bought them from 'Atkinsons' if anyone else is looking for some.

What gold are people stacking?, I am thinking that my next purchase should be an ounce or 2 of gold before I am priced out of this market.


Devon
 
Hi devon321, Atkinsons' prices are currently the most competitive for brits buying 2012 UK Britannia's. You can sit around on ebay and hope to pick them up sub 25, but quite honestly, life is too short. Any dates pre 2012 are going to have a premium on them, although I have managed to snipe random dates at around 28 - 30 price on ebay - it's rare, most are going for 35+. Ebay, though, is a good place to use for searching for, and collecting, all the dates together over time - when it comes to sell could make you some decent money on an entire date set.

As for Gold coins ... Sovereigns are a good starting point. I am pretty new to buying PM's myself and this was where I started with my first Gold coin.

http://atkinsonsthejewellers.com/shop.php?sec=prod&prod=2

http://www.bullionbypost.co.uk/gold...e=google&utm_medium=shop&utm_campaign=product

The 2012 Sovereign is a good buy, IMO. I like the new design a lot.
 
Brits arrived today, they look amazing and I am really pleased with my purchase.
Even if silver does absolutely nothing over the next 10 years I won't mind as I can always scatter them about the house as paperweights or give them as gifts haha.

I think I will take your advice 'Itanimulli' and go for '5' 2012 sovereigns from atkinsons aswell, you are right they are beautiful, I am a little miffed that
I didn't pull the trigger when spot was at 1004 , but even these prices 1030 might not stick around forever.

Not really sure about how to proceed from here metals wise, may look at a monthly savings plan from Atkinsons, saves on postage and I should be able to
pound cost average a little.

best wishes
Devon
 
Welcome to the PM addicts club !
Silver Brits are a good coin to stack and if selling on eBay they seem to go at a premium over Maples and ASEs.
Kooks and other Australian coins are worth considering because they are very well struck and supplied in plastic capsules. Watch pricing though on eBay as they tend to get too high in my opinion. Atkinsons regularly has special offers so watch out for deals.
I prefer to buy half sovereigns if they are priced properly, i.e. half a full sovereign price. Sometimes you can get this but often not in which case buy sovereigns. Don't waste your time bidding gold on eBay, go straight to Atkinsons or other bullion dealers. Consider proof sets like Britannias as some dealers are unloading at decent prices - 5% above spot for boxed set with COA for example.
Finally, join the UK forum section and express your interest in group buys with Apmex or maybe even a German dealer where VAT on silver is only 7%.
Consider yourself fortunate that silver is at a low and you are just starting. Some of us are hurting right now with the big falls but that's the risk you must be prepared to take as your stack could fall in value and you should never extend yourself to a situation where you are forced to sell at a low.
 
I would well recomend a thorough search of ebay.
Most of what I buy comes from ebay rather than any other source, and mostly I pay around spot.
Use some lateral thinking, things listed in wrong categories, wrong names, other countries ebay sites(as in, go directly to their own domain name) south american is awesome if you can speak spanish.
I have just picked up a couple of chinese silver bars 22 ounces for $220, and around 7 proof beijing expo pandas for $43 posted.
I have also picked up Britannia's for around 20 pound on ebay uk about 6 months ago, so they are there if you look for them.
 
camylopez said:
I have just picked up a couple of chinese silver bars 22 ounces for $220, and around 7 proof beijing expo pandas for $43 posted.
I have also picked up Britannia's for around 20 pound on ebay uk about 6 months ago, so they are there if you look for them.
Click to expand...

hmmmm even though im still fairly green, i'd stay away from the chinese ebay 'silver bars' as they're not always what they seem. Its easy to think you're getting a great bargain.. There is a seller saying he thinks or has been told its pure chinese silver bars. However hes not 100% sure. Basically hes inadvertently saying they're not pure silver bars and covering his ass as it wasnt a 100% guarantee. (though nothing really is without tests).

I also wouldnt recommend Pandas for a new buyer too, theres a few fakes out there too and are way overpriced IMO for an 8million mintage or watever of the 2012 series (though they do look nice). Who knows if people will still like them in 5-10 years. Spot may go up, but maybe premiums wont match as much as todays prices. Also you need to read and learn a bit i guess on the series/gradings etc.

Cheap coins like the Noahs Ark, phillharmonics, AsE's, Maples, 10oz bars (any bullion really), 5oz coins (priced well) 1kg Pamps, maybe some lunars and whatever else you find cheap thats close to spot for 999 silver.
Ebay is good for the odd bargain though.

Im vague on details but maybe look into Perth Mint PMCP program, MAYBE you can avoid VAT that way. <--- i have no clue, but deff worth a look mate.
 
Sorry, it was not my intention to promote chinese silver bars or pandas or anything in perticular, was just as an example of what can be found, if you look for it.
Of course, you must do your due diligence and ensure your buying the real thing. Asking for a second opinion and learning to study the pics is a good start, especially with the pandas.
 
dex said:
hmmmm even though im still fairly green, i'd stay away from the chinese ebay 'silver bars' as they're not always what they seem. Its easy to think you're getting a great bargain.. There is a seller saying he thinks or has been told its pure chinese silver bars. However hes not 100% sure. Basically hes inadvertently saying they're not pure silver bars and covering his ass as it wasnt a 100% guarantee. (though nothing really is without tests).
.
Click to expand...

However, I will say, I have come across a fair bit of russian and chinese silver bars. Yes, there is no certification, however, some are quite collectable, from an art perspective, and they so far seem to be around 75% silver.
Please note however, german silver is not silver, and nepelese silver is around 50% lead. so reaserch what your buying first.
 
camylopez said:
I would well recomend a thorough search of ebay.
Most of what I buy comes from ebay rather than any other source, and mostly I pay around spot.
Use some lateral thinking, things listed in wrong categories, wrong names, other countries ebay sites(as in, go directly to their own domain name) south american is awesome if you can speak spanish.
I have just picked up a couple of chinese silver bars 22 ounces for $220, and around 7 proof beijing expo pandas for $43 posted.
I have also picked up Britannia's for around 20 pound on ebay uk about 6 months ago, so they are there if you look for them.
Click to expand...

I am amazed that you managed to buy Britannias for about 20 GBP about 6 months ago because I have been buying Britannias for two years now and check eBay twice a day, never have I seen a single Britannia sell for less than about 25 pounds and 6 months ago I would have reckoned nearer 30 pounds plus shipping. Did you buy in the UK or are the coins for 20 pounds half ounce perhaps ? If you were fortunate to buy at this price then well done !!
 
camylopez said:
I would well recomend a thorough search of ebay.
Most of what I buy comes from ebay rather than any other source, and mostly I pay around spot.
Use some lateral thinking, things listed in wrong categories, wrong names, other countries ebay sites(as in, go directly to their own domain name) south american is awesome if you can speak spanish.
I have just picked up a couple of chinese silver bars 22 ounces for $220, and around 7 proof beijing expo pandas for $43 posted.
I have also picked up Britannia's for around 20 pound on ebay uk about 6 months ago, so they are there if you look for them.
Click to expand...

I speak spanish and i normally buy in usa because here is more expensive. What pages you use? Mercado libre argentina, uruguay o ebay spain?
 
Thanks for all these replies, they have really given me some great ideas on how to proceed from here.

@Ladybird, I would be interested in a group order from apmex, indeed I saw their min price was $1500 and I was going to save up myself.
I hadnt considered rounds, I wouldnt have thought they would be as popular as government backed silver.
Also Ladybird I wondered if you've had any success ordering from Guernsey Mint? (If you catch my drift)

@Camylopez , I do speak Spanish, I like your idea of using the american ebay, although issues surrounding authenticity do worry me.

In terms of gold I will look at half sovereigns also, I am still waiting for a little drop in the price of gold, hoping for some improvement of the pound against the dollar and a slight drop in the POG to pull the trigger.

Best wishes
Devon
 
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