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UK 50% Junk Silver Liquidity / Snobbery


metallica73

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I'm not currently stacking silver as i'm buying US gold right now but once I have completed that I fully intend to get back to stacking by pure weight.

I've been thinking about bars / rounds / coins the closest I can get to spot, as opposed to 1 oz Bullion coins - you're talking what? £3-4 over spot for these. I'm fed up of milk spot issues too.

It seems to me that 50% silver is pretty much the perfect choice for a per oz stacker - it seems very liquid and it must be the closest to spot to buy? Sure you would have to sell close to spot too but you can always factor that in from the start. Compared to pre-1920 'Junk' which always seems to get a premium, you cannot find it close to spot in my experience.

Is the biggest problem with 50% the space needed for it, or is there a bit of silver snobbery in there too?

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Very rare to see a collector revert back/to stacking, but great to see imho. 

Stack whatchou like. It appears the like of hgmnwill pay around 75% of spot price, irrelevant of purity, 925/800/500.  I had heard that 50% realised a lower price due to the extra refining cost for the buyer?

“Nowadays people know the price of everything and the value of nothing.” Oscillate Wildly

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17 minutes ago, Stu said:

Very rare to see a collector revert back/to stacking, but great to see imho. 

Stack whatchou like. It appears the like of hgmnwill pay around 75% of spot price, irrelevant of purity, 925/800/500.  I had heard that 50% realised a lower price due to the extra refining cost for the buyer?

I'm still a collector for sure, but would like to diversify a percentage of my investments and have a 'stack' thats worth is purely in weight.

Birmingham Silver look like they're paying 77.3% for 50% so that sounds about right. I'm sure I could get closer to spot than that if I was prepared to wait for the right buyer.

I guess its not as sexy as a kilo bar, but you could pick up 2kg (1kg pure) of 50% for less than £390 right now.

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8 hours ago, metallica73 said:

Birmingham Silver look like they're paying 77.3% for 50% so that sounds about right. I'm sure I could get closer to spot than that if I was prepared to wait for the right buyer.

 

I couple of refiners in Birmingham I trade with give decent prices, I can always get a quote for you if you need. Selling them on eBay tends to work out marginally better (even after fees) but a pain in the backside for packaging etc. 

I personally would be happy to pay 79-85% for 50% (depending on type of coin and quality) if you ever want to sell and I have the funds. I recently just bought nearly 5kgs worth from another forum member. 

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9 hours ago, metallica73 said:

Is the biggest problem with 50% the space needed for it

It definitely takes up room. But if you get the right boxes / tubes for them, you can maximise the space. Throwing them in a sack isn't efficient unless they going in the attic or garage

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I've just put several kilos of 50% into a treasure chest, all on their sides so it's one long roll. The last 2 coins suffer some wear from me wedging it in to make a snug fit, but it's oddly satisfying to have rows of half crowns, florins, shillings and sixpence which don't rattle around.

I scattered the top with a few loose versions of each coin design so it feels more treasure-like to look in on, lol.

I almost can't lift my 50% box now, so that tells me it's time to move onto desperately trying to get more Sterling coins under spot. It can be done, but in slim pickings or a lucky bulk deal from a repeat seller you've bought from a few times.

I love the older 50% designs. Much more ornate and gothic, I feel.

 

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@metallica73 I ended up with way way more 50% silver Shillings than I thought I was getting in a recent haul from ebay, if you're interested in them to restart your near-spot silver stack.

Looks like BullionByPost will give you 85% spot price if you sell them over a kilo of it.

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2 hours ago, Jay2 said:

@metallica73 I ended up with way way more 50% silver Shillings than I thought I was getting in a recent haul from ebay, if you're interested in them to restart your near-spot silver stack.

Looks like BullionByPost will give you 85% spot price if you sell them over a kilo of it.

Got to finish my gold set first but then i'm definitely up for stacking 50%

Looks like Bullionbypost is the best option for 1Kg +

£151 Birmingham Silver..... £166 BullionByPost

Looks like they pay a little bit more for 5kg+ too. Always good to know where to get rid in bulk if needed.

 

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So, if my maths is right to have a reasonable amount of silver, say £2000 worth, 50% being extra weight, you would have to buy about 10,250g of coins or 22.5lbs 

The amount of time I imagine it would take to just source that.. then adding on postage, then storing it, moving it then selling it, what a faff :P

And that's if you just get £2k's worth, in the big scheme of things that's not a lot

Seems like a really bothersome way of having silver, even more so compared to 8 sovereigns. 

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36 minutes ago, Kman said:

So, if my maths is right to have a reasonable amount of silver, say £2000 worth, 50% being extra weight, you would have to buy about 10,250g of coins or 22.5lbs 

The amount of time I imagine it would take to just source that.. then adding on postage, then storing it, moving it then selling it, what a faff :P

And that's if you just get £2k's worth, in the big scheme of things that's not a lot

Seems like a really bothersome way of having silver, even more so compared to 8 sovereigns. 

I don't think sourcing 50% would be a problem at all. There would be no rush, i'd try to get it at the best price whilst collecting other things.

I've done something similar in the past where I would buy world silver coins by the lot basing it on 50% and then you can always pick out a few better pieces which sell for over spot to bring down the cost for you.

And i'm certainly not saying ONLY stacking 50% is the way to go, just for a little diversification. Agree with you, the bulkiness of 10kg+ is the biggest downside.

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I guess its the same issue as the 40% silver here in US.  I can get it at spot, but I don't want to deal with the extra weight and hassle.  And resale is not as easy, as I can't get spot back in many cases, I have to sell a bit under spot just to move it (unless I know the dealer well). 

As long as 90% or .999 is available for close to spot, I don't see the upside other than it psychologically makes you feel like you're getting more (weight) for less.

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26 minutes ago, tbone said:

I guess its the same issue as the 40% silver here in US.  I can get it at spot, but I don't want to deal with the extra weight and hassle.  And resale is not as easy, as I can't get spot back in many cases, I have to sell a bit under spot just to move it (unless I know the dealer well). 

As long as 90% or .999 is available for close to spot, I don't see the upside other than it psychologically makes you feel like you're getting more (weight) for less.

Its not easy to get .999 here in the UK close to spot because of the VAT that has been factored in at some point along the line.  .925 is a bit easier to get at around spot but not as easy .500 I have found.

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1 hour ago, tbone said:

I guess its the same issue as the 40% silver here in US.  I can get it at spot, but I don't want to deal with the extra weight and hassle.  And resale is not as easy, as I can't get spot back in many cases, I have to sell a bit under spot just to move it (unless I know the dealer well). 

As long as 90% or .999 is available for close to spot, I don't see the upside other than it psychologically makes you feel like you're getting more (weight) for less.

As Goldhooked mentioned, the VAT here means we can rarely get 999 silver close to spot and our junk .925 coins always carry a premium.

A 40% Kennedy melt value is $2.43.... very frustrating to not have access to a good supply as if you're patient you can sell even circulated toned ones for $8.

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16 hours ago, metallica73 said:

A 40% Kennedy melt value is $2.43.... very frustrating to not have access to a good supply as if you're patient you can sell even circulated toned ones for $8

Wow, nice!  Maybe I should resell 40% to you guys in the UK...shipping would be an issue though

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1 hour ago, tbone said:

..shipping would be an issue though

Yeah the chance of Customs intervening and slamming 20% VAT on the import, and their own fees and hikes on top of that.

 

The weight problem is precisely why I've decided enough is enough with the 50%. I've sorted through it for some great examples of each coin type. The rest is amusing treasure! And reliable melt in future.

Eventually, even the Sterling box will be annoyingly cumbersome, I think. My one lonely sovereign wants friends now.

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On 01/12/2017 at 15:15, tbone said:

I guess its the same issue as the 40% silver here in US.  I can get it at spot, but I don't want to deal with the extra weight and hassle.  And resale is not as easy, as I can't get spot back in many cases, I have to sell a bit under spot just to move it (unless I know the dealer well). 

As long as 90% or .999 is available for close to spot, I don't see the upside other than it psychologically makes you feel like you're getting more (weight) for less.

At least in the US you are not as heavily restricted as we in UK are. You can buy nitric acid, dissolve the lot and drop almost pure silver. Pour your own bars and you're sorted

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On 01/12/2017 at 09:35, Jay2 said:

I've just put several kilos of 50% into a treasure chest, all on their sides so it's one long roll. The last 2 coins suffer some wear from me wedging it in to make a snug fit, but it's oddly satisfying to have rows of half crowns, florins, shillings and sixpence which don't rattle around.

I scattered the top with a few loose versions of each coin design so it feels more treasure-like to look in on, lol.

Oh my goodness I love this idea! Also a lovely motivation/goal for stacking

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