Average £/oz

[Danny-boy]

That's bloody good HT.

I'm still looking for a decent source for circulated silver near spot, but I'm not having much luck.

[HighlandTiger]

After this evenings Ebay stint of hoovering up of lots of sterling silver coins with lovely cases and certificates, at very decent prices, my sterling silver (0.925) average is now £15.75 per oz t. Which is actually better than my pure silver (0.999) average of £17.42 per oz t. But adding it all together, I'm on £16.24 per oz t. . 

 

That will be my lot on silver for this month, as I always planned to have 50-50 Gold and silver. And I need to spend a bit on that yellow shiny stuff to catch up. 

 

Well that's my plan. Whether I stick with it is another matter

[Keithoil]

@HT

 

Thats good, mine is just above £19 for all my silver. But £18 here we come.

[Richardski]

Hi Guys,

Looks like Silver is going down later this month/early next month. Many commentators on Kitco are quite bearish for the Summer months and even David Morgan (the so called silver guru) is anticipating $17 and possibly even lower before it rises again.

I'm holding off my purchase until $17 is reached and just hope it will be achieved. That should bring all of our averages down, if they are right.

[ChrisSilver]

Hi Guys,

Looks like Silver is going down later this month/early next month. Many commentators on Kitco are quite bearish for the Summer months and even David Morgan (the so called silver guru) is anticipating $17 and possibly even lower before it rises again.

I'm holding off my purchase until $17 is reached and just hope it will be achieved. That should bring all of our averages down, if they are right.

I hope this is right, I would like there to be a good few months minimum before prices go up. $17 an ounce is nice but id be happy if silver just stayed at these prices, a nice sideways market for a few years minimum would suit me perfectly. Before a nice big rise.

[craig12]

on the 20 ounces or so im averaging £16.75 per oz all in

the shipping makes a difference   heres a weird thing at sarnia they charge you 20% on the delivery charge 

[Richardski]

I hope this is right, I would like there to be a good few months minimum before prices go up. $17 an ounce is nice but id be happy if silver just stayed at these prices, a nice sideways market for a few years minimum would suit me perfectly. Before a nice big rise.

I agree Chris, I think it will take some time to recover (unless black swan events occur). Industrial silver usage is still quite depressed and its primarily investors buying coins and bars who are keeping prices at current levels. The economy either needs to collapse entirely or increasingly improve so that the price of silver will rise. Its interesting to see numerous mine mergers occurring in order to keep down total costs. I came across one the other day on You Tube which was boasting an all-in cost of $13 per oz - so they are making good money at current levels - but not all of them are that fortunate.

I suspect we shall all have a reasonable time to buy in at these low levels to maximise our holdings. I still favour gold in the shorter term though.

[Richardski]

That's bloody good HT.

I'm still looking for a decent source for circulated silver near spot, but I'm not having much luck.

Danny, hunt in your area for jewellery shops closing down and dont forget the charity shops.

I've just bought another 300 silver threepences for 20p each. 200 were pre 1920 and 100 pre 1947. So i've more than doubled my money.

Also found a hallmarked silver bracelet weighing 78 grams in a charity shop for £3.

These deals are about but it does take time and patience.

[HighlandTiger]

I always check out charity shops. Got a few little coins, but not had the luck you have had yet.

 

78g sterling siver = £27 at spot. Not bad for £3 

[watchesandwhisky]

I find charity shops are mostly a waste of time , whilst the odd bargain can be had most either send there pms to head office,try and sell them at a very over inflated prices or workers pocket them,worth a check if passing though since some go unnoticed..though this is very rare now paid managers run the shops.

[HighlandTiger]

I find charity shops are mostly a waste of time , whilst the odd bargain can be had most either send there pms to head office,try and sell them at a very over inflated prices or workers pocket them,worth a check if passing though since some go unnoticed..though this is very rare now paid managers run the shops.

That may well be true on the "branded" high street ones, The big national charities etc. But look for the shops that are for local charities.These are nearly always run exclusively by volunteers, and they can easily miss some decent stuff.

[morezone]

   heres a weird thing at sarnia they charge you 20% on the delivery charge 

 

VAT is chargeable on postage if you are VAT registered.  I'm not sure how it works in Guernsey with the prepayment of VAT.  I always thought you had to have a licence from HMRC to take prepayment to pass on.  I would often see these licence numbers on packages from Jersey and the likes but Sarnia just has a hand stamp stating that VAT has been prepaid.

[watchesandwhisky]

That may well be true on the "branded" high street ones, The big national charities etc. But look for the shops that are for local charities.These are nearly always run exclusively by volunteers, and they can easily miss some decent stuff.

This is true, we have one by me that often has little chains and rings sometims close to spot, even the little ones are wising up though, though i dont mind paying bit extra these small charitys do good work.

Carboot sales however i find stuff weekly and hit the jackpot a few weeks ago..its a bit of a melee but if u dont mind getting stuck in these are sometimes very good.

[HighlandTiger]

Carboot sales however i find stuff weekly and hit the jackpot a few weeks ago..its a bit of a melee but if u dont mind getting stuck in these are sometimes very good.

What sort of things are you finding at boot fairs. I havn't spotted anything of interest in the ones round here recently

[watchesandwhisky]

Usualy sterling jewlrey,sometimes forks and spoons, last week i was searching through some jewlrey n found a gold ring, asked how much...50p, asked if they would take ten for the lot they accepted,four gold rings two pairs of gold earrings , 1.6 g gold chain and a couple ounces of sterling...But this was pure luck i know and really a once in a blue moon thing.

The mad rush had finished and the dealers had left this stall..noone else there..they must have waited till it was quiet and then put it out,i was just very lucky to be first there

http://thesilverforum.com/uploads/monthly_05_2014/post-117-0-60201300-1400428512.jpg

[HighlandTiger]

I was going to say, how did you know it was real gold?, but then I took a look at your pic and saw the hallmarks. Great result mate, and all for a tenner. what do you think your profit will be on that lot?

[watchesandwhisky]

I was going to say, how did you know it was real gold?, but then I took a look at your pic and saw the hallmarks. Great result mate, and all for a tenner. what do you think your profit will be on that lot?

Cheers mate:) i could scrap out for 70 odd,but i think i can get over 250 quid outa it,thats a 15 carat smokey quartz on one ring il get 100 for that one,50 ish for the three stone garnet ring,40 for the cocktail ring,20 for the cz ring ,30 for the pair of earrings and 20 for the chain, the silver il keep i think.

[HighlandTiger]

Think of all the silver you could buy for £250, About 15 oz's worth I should think, And then remember those 15 oz's in reality only cost you a tenner. That'll get your average down.......

[watchesandwhisky]

Exactly my plan

[Richardski]

That may well be true on the "branded" high street ones, The big national charities etc. But look for the shops that are for local charities.These are nearly always run exclusively by volunteers, and they can easily miss some decent stuff.

I agree, the small independent ones, certainly where I live don't have a clue. The bigger brands different story. I'm not saying for a moment its worth giving up your job to search these shops, but some good deals do occur time to time. I generally ask for any old coins handed in, and i'm surprised how many current Euro's and old silver foreign coins are in some of the bags I get. I haven't found any gold like madhatter yet - so i'm verrrrry jealous. Boot fairs here I come 

[Richardski]

Usualy sterling jewlrey,sometimes forks and spoons, last week i was searching through some jewlrey n found a gold ring, asked how much...50p, asked if they would take ten for the lot they accepted,four gold rings two pairs of gold earrings , 1.6 g gold chain and a couple ounces of sterling...But this was pure luck i know and really a once in a blue moon thing.

The mad rush had finished and the dealers had left this stall..noone else there..they must have waited till it was quiet and then put it out,i was just very lucky to be first there

http://thesilverforum.com/uploads/monthly_05_2014/post-117-0-60201300-1400428512.jpg

Hey Madhatter - if you haven't already, pick up a diamond tester on Ebay for less than £10 - that one ring may have a diamond in it too - well worth the price. 

 

On another matter and more relevant to the topic - what do you guys think of the three 10oz coins sold on STG as a means of reducing one's overall average price?

[StackemHigh]

My meager stack is sitting at £25.54 / t oz. (all Inc)

 

As i increase my stack i am sure that will fall very quickly to around the £19.00 / t oz.

[craig12]

down to £15.66 per oz  on the 26 oz I have

[Keithoil]

Well done Craig12.

 

It will be good to keep it at anything around that point. But it will men you cannot collect any semi numis coins.

 

Mine is at £19.37 but I am collecting NGC slabbed coins which carry a premium so it creeps up a bit.

[silversword]

Down to £18.79/oz and would have been lower if I had not bought a Panda, which worked out as my most expensive silver coin to date. Got to say a £15.xx average including tax and delivery is pretty damn good.