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Average £/oz


Danny-boy

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That is good Bosse68.

 

I have a similar problem I like the NGC slabbed coins but it knocks holy hell out of my £/oz. So compromise has to be struck, buy some slabs then buy some bullion.

 

It does work but is a long painful process, but then again hopefully I will have a few years in which to get all my PM's up to a very respectable level.

When someone like keith says this it scares me. :o

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Correction I am at £18.72/oz still not too bad, and I am 20 away from 1700 oz!!!

Keith 1700 oz is great. Do you have a target in mind or will you just keep stacking till the price gets silly?

 

I ask because I am balancing between gold and silver and Im setting a 1000 oz silver target and 100 oz gold target. Then I suspect I may stop unless an absolute bargain crosses my path.

 

Im intrigued to know if fellow stackers set targets or just "go with the flow".

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Try to keep my silver bullion under £15 a oz if i can so hopefully one day it will go to over £25 a oz :] 

 

Im in the uk so kinda enjoy the challenge of finding silver at this sort of price

I think that's a good plan. Its so tempting to buy numismatics which cost a lot more and while an economy is buoyant the premiums can be regained. But in a depression or stagnant economy I think all this stuff (unless its really unique) reverts closer to the precious metal price pertaining at the time. Yesterday I purchased 50 x 1 oz silver bars at £12.50 each. I try to keep all my purchases as close to spot as possible (with just a few small exceptions). Like you I enjoy the challenge of finding these 'cheap deals' and know that if prices fell further I wouldn't feel too hurt as I bought them low in the first place.

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I think that's a good plan. Its so tempting to buy numismatics which cost a lot more and while an economy is buoyant the premiums can be regained. But in a depression or stagnant economy I think all this stuff (unless its really unique) reverts closer to the precious metal price pertaining at the time. Yesterday I purchased 50 x 1 oz silver bars at £12.50 each. I try to keep all my purchases as close to spot as possible (with just a few small exceptions). Like you I enjoy the challenge of finding these 'cheap deals' and know that if prices fell further I wouldn't feel too hurt as I bought them low in the first place.

Thats a great price for 50 1 oz bars that well done maby you could inbox me where you got them from so i can have a looky :]. Ya thing is i think we all waste money on shit in life so even if it went down to 9-10 a oz least we still have over 85% of our money there and something to show for the investment. Always room for  numismatics in my stack but i look at them in a different light i think these to good to scrap so will others 

Thanks for the reply :]

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Thats a great price for 50 1 oz bars that well done maby you could inbox me where you got them from so i can have a looky :]. Ya thing is i think we all waste money on shit in life so even if it went down to 9-10 a oz least we still have over 85% of our money there and something to show for the investment. Always room for  numismatics in my stack but i look at them in a different light i think these to good to scrap so will others 

Thanks for the reply :]

It was a private seller who frequently goes to auctions, flea markets and 2nd hand shops etc etc. I purchase most of what he can find - but if he offers me something I dont want or perhaps dont have enough money at the time - I will send you a post - however, Ive purchased everything he's offered so far. Its not that large a scale as he is finding it more and more difficult to find bargains. The real way to get it cheap is to set up a "cash converters" type shop and just buy. They are paying people 50% or less than spot for gold and silver and people sell it to them. So if you have £100,000 + in savings and wish to spend that on gold and silver I would set up such an outlet for 12 months and Im confident you'd make £40k - £50k (or more) less your shop expenses - and no tax as you haven't sold anything lol.

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It was a private seller who frequently goes to auctions, flea markets and 2nd hand shops etc etc. I purchase most of what he can find - but if he offers me something I dont want or perhaps dont have enough money at the time - I will send you a post - however, Ive purchased everything he's offered so far. Its not that large a scale as he is finding it more and more difficult to find bargains. The real way to get it cheap is to set up a "cash converters" type shop and just buy. They are paying people 50% or less than spot for gold and silver and people sell it to them. So if you have £100,000 + in savings and wish to spend that on gold and silver I would set up such an outlet for 12 months and Im confident you'd make £40k - £50k (or more) less your shop expenses - and no tax as you haven't sold anything lol.

I see ya that's great if you know someone like that still your taking the risk it may never go above £12 a oz haha it will but when is the big question :] ya finding things at good prices is always hard in any market. im only 99k short then haha they definitely make the money don't they i went to 3 yesterday to see if they had anything and only a few gold and silver rings which where strongly priced so didn't bother. didnt even see one coin do you rekon they just melt them down for a quick profit sometimes 

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I see ya that's great if you know someone like that still your taking the risk it may never go above £12 a oz haha it will but when is the big question :] ya finding things at good prices is always hard in any market. im only 99k short then haha they definitely make the money don't they i went to 3 yesterday to see if they had anything and only a few gold and silver rings which where strongly priced so didn't bother. didnt even see one coin do you rekon they just melt them down for a quick profit sometimes 

The one closest to me (and there are 4 similar shops) all sell sovereigns for £220 - £299 - so I would never buy from them. Equally they sell silver at £25 an oz in jewellery form and often more. I have a deal with one local shop where if he cannot sell his silver I will buy it off him at the same price as he can get it for scrap (around £10 per oz) and this saves his paperwork and postage. However, it is difficult to get someone to do that deal and it took me many weeks to persuade one of them to do it. I frequently go around second hand shops - especially the smaller ones (not part of a chain) and sometimes thats a great place to buy pre 1947 silver coins for pennies. But again its rare they have them. I have over 11 people where I have deals with to search out this stuff for me and between them all, I'm lucky to get 50 oz a month. So its tough. But one store sold me a silver trophy for £180 and the scrap silver value was £230+ so mistakes are made. 

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I too have a deal with a local jeweller were he emails me (I work away) and tells me what he has and either buy or not.

 

I generally buy as these are all gold sovereigns Full and Half's.

 

I also have another local shop this one is a second hand jewellery shop but I buy a lot of my silver from him and some gold.

 

My most recent was 5oz of silver at £65. and 8 half sovereigns and 3 full sovereigns at £187 per full sovereign.

 

I have tried other local jewellers but they are asking sill money for the sovereigns as Richard says, so I stay clear. I have seen full sovereigns for £300 plus!!!

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My most recent was 5oz of silver at £65. and 8 half sovereigns and 3 full sovereigns at £187 per full sovereign.

 

 

 

I need to have a word with my guy, I'm on £190 a sov at the moment..... (picking up 6 half sovs tomorrow at £95 each). see if he can knock a few more quid off.   :D

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I did walk into inverness today, with cash in my pocket. Found sovs at £290 or £210. No thanks. Guys at work were asking me to get sone more silver, so that'll help bulk me up to the optimum 55oz or so.

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Still think silver is a good investment ?

 

I just ran a Pivot table on my bullion silver coin spreadsheet and got the following table.

The year is the year of purchase and the value is the average net landed cost of all silver coins bought in that calendar year.

Most of the coins were bought with low VAT at the lowest possible prices anywhere including the USA so if bought in the UK you can easily add a further 10% - 15% to the cost so we are talking over £30 per ounce. That looks like a loss of about 50% in value. Still stacking for wealth preservation or SHTF scenario ?

 

2010   £19.87

2011   £27.41

2012   £27.24

2013   £20.70

2014   £16.89

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Still think silver is a good investment ?

Yes, history shows that it's pretty good.

There will always be the unlucky ones that buy high before a substantial drop.

Ask the same question to somebody who bought in 2009 and got out in 2011, I'm sure they would say it was a fantastic investment.

In summary, I'd say stacking at today's prices is a good investment. Anybody with a bullion stack at under £20/oz should see good returns in 5-10 years (in my opinion of course).

Stacker since 2013

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Yes, history shows that it's pretty good.

There will always be the unlucky ones that buy high before a substantial drop.

Ask the same question to somebody who bought in 2009 and got out in 2011, I'm sure they would say it was a fantastic investment.

In summary, I'd say stacking at today's prices is a good investment. Anybody with a bullion stack at under £20/oz should see good returns in 5-10 years (in my opinion of course).

 

Of course fellow stackers down under were heading "to the moon" on Silver Stackers in the 2011, 2012 period when silver was double what it is today.

No-one saw silver collapse, indeed the financial world was coming to an end with the USA fiscal cliff, the collapse of the major banks, the Euro crisis etc.

That doomsday never happened as stackers were brainwashing each other and "backing up the truck" to quote the jargon of the day.

Now with the Middle East escalating their religious/ tribal internal conflicts and the Russians invading the Ukraine you would imagine there would be some major upward trend in PMs and flight out of fiat.

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Still think silver is a good investment ?

 

I just ran a Pivot table on my bullion silver coin spreadsheet and got the following table.

The year is the year of purchase and the value is the average net landed cost of all silver coins bought in that calendar year.

Most of the coins were bought with low VAT at the lowest possible prices anywhere including the USA so if bought in the UK you can easily add a further 10% - 15% to the cost so we are talking over £30 per ounce. That looks like a loss of about 50% in value. Still stacking for wealth preservation or SHTF scenario ?

 

2010   £19.87

2011   £27.41

2012   £27.24

2013   £20.70

2014   £16.89

 

The oft-quoted rule of investing is "buy low, sell high" - or, as I have seen elsewhere: "buy the f--king dips". If you continue to buy in a bull market as prices are going higher and higher and higher, then what else can you reasonably expect other than a crash at some point? 

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The oft-quoted rule of investing is "buy low, sell high" - or, as I have seen elsewhere: "buy the f--king dips". If you continue to buy in a bull market as prices are going higher and higher and higher, then what else can you reasonably expect other than a crash at some point?

Haha .. Hindsight is a wonderful thing.

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Just pulled a 52oz order from STG. 10oz Koala, 34 maples and 8 nicer things. Which brings me to £14.2875 per Oz delivered, almost the same as last months orders.

But I did get a proof SBSS "your highness" from the US. Which brings me to £14.71 for August orders ;)

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They have mixed year Philharmonics for £13.71 per Oz if anyones looking to bring down the average. I was tempted but i'd rather go the extra 11p for 2014 maples.

I'm guessing my average is around £15 per Oz, delivered. STG maples beeb keeping me down but the occasional nice thing has tempted me.

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Of course fellow stackers down under were heading "to the moon" on Silver Stackers in the 2011, 2012 period when silver was double what it is today.

No-one saw silver collapse, indeed the financial world was coming to an end with the USA fiscal cliff, the collapse of the major banks, the Euro crisis etc.

That doomsday never happened as stackers were brainwashing each other and "backing up the truck" to quote the jargon of the day.

Now with the Middle East escalating their religious/ tribal internal conflicts and the Russians invading the Ukraine you would imagine there would be some major upward trend in PMs and flight out of fiat.

 

Of course fellow stackers down under were heading "to the moon" on Silver Stackers in the 2011, 2012 period when silver was double what it is today.

No-one saw silver collapse, indeed the financial world was coming to an end with the USA fiscal cliff, the collapse of the major banks, the Euro crisis etc.

That doomsday never happened as stackers were brainwashing each other and "backing up the truck" to quote the jargon of the day.

Now with the Middle East escalating their religious/ tribal internal conflicts and the Russians invading the Ukraine you would imagine there would be some major upward trend in PMs and flight out of fiat.

 

Of course fellow stackers down under were heading "to the moon" on Silver Stackers in the 2011, 2012 period when silver was double what it is today.

No-one saw silver collapse, indeed the financial world was coming to an end with the USA fiscal cliff, the collapse of the major banks, the Euro crisis etc.

That doomsday never happened as stackers were brainwashing each other and "backing up the truck" to quote the jargon of the day.

Now with the Middle East escalating their religious/ tribal internal conflicts and the Russians invading the Ukraine you would imagine there would be some major upward trend in PMs and flight out of fiat.

 

Of course fellow stackers down under were heading "to the moon" on Silver Stackers in the 2011, 2012 period when silver was double what it is today.

No-one saw silver collapse, indeed the financial world was coming to an end with the USA fiscal cliff, the collapse of the major banks, the Euro crisis etc.

That doomsday never happened as stackers were brainwashing each other and "backing up the truck" to quote the jargon of the day.

Now with the Middle East escalating their religious/ tribal internal conflicts and the Russians invading the Ukraine you would imagine there would be some major upward trend in PMs and flight out of fiat.

Yes I agree with one exception. When silver rose to $50 for a brief period, dealers would only pay around $36 - $38 - I think most of them regarded the situation as 'short -term'. Also David Morgan was advising his subscribers that the rise was too quick and expect a correction. But I suspect even he thought it wouldn't go down as far as it did.

 

The time to buy is when the price is close to extraction costs - if possible. These vary from on average $15 oz - $22 oz. - depending on the mine (There are one or two exceptions outside theses parameters but not enough to impact the market). This doesn't mean that prices cannot go below these figures but can only do so for a relatively short period of time, before the mine closes down altogether and then market supply is reduced and prices will rise. So anyone who purchased at a high level, would, in my opinion, be sensible to average down at or near current prices. The downside seems to be a max of $4 oz and the upside, short term $26 -  medium and long term - who knows - depends on industrial demand and SHTF scenarios. At $26 oz most mines can 'make money' producing and will provide reasonable supply. So those investors looking for a squeeze are reliant on monetary collapse or war breaking out. Those in it for 20 - 25 years will benefit as the economy grows and demands more silver, while below ground stocks fade. 

 

Apart from a crisis situation,  Silver has to be a longer term investment. I have a number of friends who pay lip service to this and say they are in it for the long term, but secretly hoping for a sudden and massive price rise. I can only see that occurring if there is monetary collapse and/or  war. Even a fall in the Stock Market will only have a mildly positive effect on Gold and less on silver prices, as Stock Market Investors - which are primarily institutional these days - will place their investments in Bonds, Treasury Bills or Stocks of other overseas countries, with a max exposure of 5% in gold (but more likely 1%) and almost nothing in silver. These investors have a duty to their shareholders/unit holders to diversify, so no-one should expect a 10% -20% of funds being invested in Gold and Silver - it simply wont happen. In fact, many divert funds to cash when there is a collapse in order to 'buy back' once the collapse has occurred.

 

Even David Morgan - the 'Silver Guru' - admits that Gold will rise first and silver will then follow. I am extremely bullish on silver and wish I was 20 - 35 years old and so can 'hang on for up to 25 years' and keep stacking month on month. However, being past 50 means I have to concentrate more on gold than silver - as its is 'more stable' and likely to provide a return in the shorter term. If I had children, of course my perspective would change and I would be stacking for them. 

 

That's my view for what its worth!

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They have mixed year Philharmonics for £13.71 per Oz if anyones looking to bring down the average. I was tempted but i'd rather go the extra 11p for 2014 maples.

I'm guessing my average is around £15 per Oz, delivered. STG maples beeb keeping me down but the occasional nice thing has tempted me.

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Simon, a number of people have said that the maples 'spot' regularly - I don't know as the ones I have are quite old and are perfect. It would be interesting to hear others comments. As I too have battled with whether to buy those philharmonics or the maples.

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Just a question Rich. How do you store your maples?

Im a purist - all in airtite capsules and I currently have display boxes. Obviously once I start buying a lot of coins (mostly its been bars and junk silver) I still think I will place them in airtites, but will find a tube for them to fit. I dont like the idea of their rubbing against each other. 

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