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jmichael99

Starting to stack silver coins. What should I look at getting?

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23 minutes ago, Jay2 said:

Another option is to buy bulk historic silver in the UK, which you can occasionally get (even from ebay) at or under spot.

I just picked up on ebay today: half a kilo of 50% silver in Half-Crowns & Florins, under spot, including insured Special Delivery. Some of the half-crowns even look collectable, but it's just silver savings to me, primarily.

 

I got in on 2 of BYB's group orders as well and they're a great experience for getting a good range of bullion which would be much more expensive on ebay, and you're avoiding the odd fake ebay might throw at you. When spot went up, I started stacking some historic silver and gold (Hatton Garden Metals is good for bulk gold, because you pay the delivery fee just once. Atkinsons is great for solo gold purchases, because everything is 'free' delivery, meaning it's rolled into each coin's price. If you get 4 Sovereigns at HGM, you're better off than getting the same from Atkinsons even with their lower prices for 4x bulk. But it's worth creating an identical shopping cart in both websites to compare your exact orders each time!)

 

I need to learn some more about the historic stuff.  Are there fakes floating around of the half crowns and such or is it less prevalent with those?

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4 minutes ago, Goldhooked said:

I'm already in to gold sovereigns as well and plan to hold a mix of both metals.

My plan was to buy sovereigns only......... 1 month in I have 1 sovereign only !!.... 1 graded gold panda 1/20oz

I then got the silver bug,,,,, Kookaburras, queens beast, swans and Lunar 2s.

I guess I'll find my way at some point lol

Myblueheaven

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1 minute ago, Myblueheaven said:

My plan was to buy sovereigns only......... 1 month in I have 1 sovereign only !!.... 1 graded gold panda 1/20oz

I then got the silver bug,,,,, Kookaburras, queens beast, swans and Lunar 2s.

I guess I'll find my way at some point lol

Myblueheaven

I know where you're coming from!  I'm all over the place with it too at the moment.

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10 minutes ago, jmichael99 said:

 

What the .gov doesn't know doesn't hurt them

Unless you're purely dealing face to face and buying or selling for cash then they'll be all over your electronic trail.  Funds for buying/selling going through your bank or PayPal and they'll know!!  I guess the only place they don't have prying eyes (yet!) is bitcoin and the like.

Edited by Goldhooked

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35 minutes ago, Goldhooked said:

I need to learn some more about the historic stuff.  Are there fakes floating around of the half crowns and such or is it less prevalent with those?

I've got quite a bit of 50% and .925 historic English coins and I have only come across one fake on a 3d (threepence) piece so it's always a good punt if you can get at a good price but what I have noticed recently is a few fakes on Victoria crowns. 925 sterling silver which people are buying from ail express so be careful on those 

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@Goldhooked The fakes I was referring to were modern bullion, usually from China, and like AgD said there's a bunch of examples on Ali express or Alibaba to give you a clue which ones are readily copied. It's really not worth a conman's time to flog fake historic silver unless it's a seriously sought-after piece or something.

@AgD Any idea which Victoria they like to copy? I'm a sucker for the veiled crowns.

Edited by Jay2

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3 hours ago, Goldhooked said:

Unless you're purely dealing face to face and buying or selling for cash then they'll be all over your electronic trail.  Funds for buying/selling going through your bank or PayPal and they'll know!!  I guess the only place they don't have prying eyes (yet!) is bitcoin and the like.

What makes you think the IRS or other authorities haven't pressed Coinbase for info?  Simple solution is to just report capital gains.  My guess is probably 0.1% of bitcoin gains are reported.

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3 hours ago, Goldhooked said:

Unless you're purely dealing face to face and buying or selling for cash then they'll be all over your electronic trail.  Funds for buying/selling going through your bank or PayPal and they'll know!!  I guess the only place they don't have prying eyes (yet!) is bitcoin and the like.

PayPal/eBay doesn't turn in records until you have over 200 transactions or 20k in sales in a single year

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5 hours ago, Jay2 said:

@Goldhooked The fakes I was referring to were modern bullion, usually from China, and like AgD said there's a bunch of examples on Ali express or Alibaba to give you a clue which ones are readily copied. It's really not worth a conman's time to flog fake historic silver unless it's a seriously sought-after piece or something.

@AgD Any idea which Victoria they like to copy? I'm a sucker for the veiled crowns.

What I've seen at the moment is a lot of re-strike's in the gothic crown and on the widows head the veiled has been ok so far. I saw a listing on eBay the other week for 6 widow heads with free p+p with a buy it now if £19.99 now in my opinion that would be the starting price for one on there 😁

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Oh yeah I saw a few re-strike gothics too, sometimes sellers call them modern 'patterns'. So much obfuscation.

Some of them play dumb about the originality, despite being clearly in the know about other coins. Their listing could say terribly dishonest things like "bought from the estate sale of a well-to-do lady"  which made me laugh out loud. I messaged that guy about it and he just derped at me about not knowing 'hence low starting price'. Ahuh. Sure. Okay.

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On 9/11/2017 at 18:56, Goldhooked said:

Rather than start a new thread I'll ask here.

If you're just stacking (UK based), what sort of price per ounce would be reasonable to be paying?

For gold, the advice seems to be to pay no more than spot+5% but surely that's not possible on silver in the UK unless you're in the know or very lucky?

Best I've managed so far is a couple of ounces at £14/ounce but that seemed to be right place at right time lucky!

@Goldhooked

Just for your info pal. I have just received my parcel from @BackyardBullion  for the August/Sept GS.be haul.

This was my first BYB order and it was faultless, absolutely no issues at all, 16 oz of silver at a good price.

So I would definitely recommend this service before Brexit kicks in.

Myblueheaven

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