I am new to Silver

[Mark10110]

Hi guys and gals,

 

I recently got into silver as a way of stopping myself wasting money, about 4 months ago I got a job that pays me £200 a week more than I was used to and me being child-like started spending that money on take aways, whiskeys, strange things I found on amazon and pretty much anything that I could waste my money on. I decided to put my money into something that isn't a waste and also has a chance of gaining value.

However I am a newbie to Silver and metals and I have kind of jumped into this blind with good intentions. Conspiracy theories aside... am i thinking right that silver will increase in value over a few years? I have no idea where I am going with this silver, if I am going to hold it till retirement or be a collector or a bar stacker at this point and as many of you may already know the facts of silver are hard to find under the mountains of conspiracy theories.

 

Is there anyone here that can point me in the right direction of where I should be researching or a youtube channel that is based on pure facts?

 

Thankyou in advance

Mac

[Pete]

Hi Mac,

I assume you are a relatively young person so have a long life ahead of you and many years before reaching retirement age.

You are smart by not intending to throw away your hard-earned cash and as you are sounding like you are hoping to invest as opposed to just having fun then here are my suggestions based on past experiences.

PMs are considered a very high risk "investment" and THERE ARE NO EXPERTS as such.
No-one knows the future value of gold, silver or platinum anymore than the price of orange juice, coffee, Brent crude or any other commodities.

Familiarise yourself with the historic price charts over 10 - 30 years.
BullionbyPost has good charts for these metals.

If you do not have a decent pension plan then put your £200 /week cash into a SIPP and besides getting 20% tax relief added you can select solid UK Equity funds paying decent dividends and have all dividends reinvested.

If however you are intent on buying PMs then consider this -

The cheapest silver bullion coins are sourced in the EU and not the UK where we are charged 20% VAT on purchase.
If selling to a bullion dealer you will not get any allowance for the VAT you have just paid.
So, day 1 you are 20% worse off selling back to a UK seller/ buyer.
In 2 years from now the low VAT EU sellers will not be any good to us as we will all be subjected to 20% VAT on silver.

This means you will be selling to private individuals like us on the forum or on eBay ( assume 15% fees ).
Think of how you will sell in the future and the time involved.

With about £800 per month to "invest" you can today buy a decent lot of silver from goldsilver.be, STG, CoinInvest, Aurinum etc and shipping is reasonable for the number of ounces you will acquire. Silver in my opinion is "relatively" cheap because the gold / silver ratio is high. Buy silver now as in 2 years it will cost more just due to VAT. Then, if the price of gold is steady i.e. hasn't spiked, then move into gold or maybe consider platinum but that has Vat added like silver.

You will find a lot of useful stuff on this forum if you are prepared to spend a few hours reading and there will always be someone willing to help you with any questions but trust me on this - there are no experts or people on the planet capable of predicting the future prices of PMs and indeed those who make videos ( Wall Street Scheisters mainly ) have got it so wrong in the past.

[Agpanda]

Welcome to the forum Mac,

 

I would mix it up a bit if I where to start over

1 part gold, nice to sell quikly if need of fast cash

1 part silver, low cost hoping the price will rice

1 part silver, collectibles might gain more value than just plain silver

Read thru old posting and do a bit of homework before making any purchases

[Kman]

 

2 hours ago, Mark10110 said:

Is there anyone here that can point me in the right direction of where I should be researching or a youtube channel that is based on pure facts?

Pure facts about what?  

[Mark10110]

5 minutes ago, Kman said:

 

Pure facts about what?  

the silver market future uses like solar panels, everytime i try searching it always ends up with a taste of alex jones or david icke in it.

 

I start reading and they start with silver and its uses and then they all trail off into a "new world order are bringing fiat currency to a collapse" and I lose intrest

[Clens92]

13 minutes ago, Mark10110 said:

the silver market future uses like solar panels, everytime i try searching it always ends up with a taste of alex jones or david icke in it.

 

I start reading and they start with silver and its uses and then they all trail off into a "new world order are bringing fiat currency to a collapse" and I lose intrest

Use of silver in solar panels is decreasing, and will continue to decrease as technology advances.

I don't want to sound sharp, but you're on a silver forum so you're going to get some pretty biased opinions.  If silver was certain to rise, everybody would buy it - it's a gamble, just like every other financial investment.

Unfortunately, there does seem to be a rather strong link between precious metals investing and conspiracy theorists.  You'll see that, the longer you hang around here!  

[Mark10110]

Just now, Clens92 said:

Use of silver in solar panels is decreasing, and will continue to decrease as technology advances.

I don't want to sound sharp, but you're on a silver forum so you're going to get some pretty biased opinions.  If silver was certain to rise, everybody would buy it - it's a gamble, just like every other financial investment.

Unfortunately, there does seem to be a rather strong link between precious metals investing and conspiracy theorists.  You'll see that, the longer you hang around here!  

thanks,

Yea I am already learning to go with gold as well as silver, Just working out what Ratio gold to silver I want to keep with.

 

Thanks guys for your reply's I do appreciate all of them

[Roy]

Why don't you become a Premium Member?

With that pay rise you can afford it 

[Mark10110]

2 minutes ago, Roy said:

Why don't you become a Premium Member?

With that pay rise you can afford it 

I would but im a newb, I have no reason to have access to the traders forum yet

[Roy]

But free advice is ok?

I see.

[Mark10110]

Well yes, I work as a gas engineer... I give free advice and quotations so on that principle, yes.

your not making me feel welcome because I haven't paid for a site i have been a member of for 2 days?

[kimchi]

4 minutes ago, Mark10110 said:

Well yes, I work as a gas engineer... I give free advice and quotations so on that principle, yes.

your not making me feel welcome because I haven't paid for a site i have been a member of for 2 days?

Don't mind @Roy...sometimes his beer fridge isn't properly stocked or his good lady tries to feed him something healthy and nutricious (gods forbid!)...both can make him very 'dry' I think

[Roy]

Slow down!

You've been given good advice from Kman and Pete already. Digest it. Don't keep asking for more when you've been given enough to go on.

 

Yes, kimchi is right.

I don't come across as friendly sometimes.

Don't get carried away Mac....it will cost you in the long run 

[BackyardBullion]

@Mark10110

Check out my beginners guide videos 

 

[Mark10110]

4 minutes ago, BackyardBullion said:

@Mark10110

Check out my beginners guide videos 

 

Thanks, I am watching now

[oliversw5]

check out belangp on youtube. 

[rebnah]

38 minutes ago, Mark10110 said:

Well yes, I work as a gas engineer... I give free advice and quotations so on that principle, yes.

your not making me feel welcome because I haven't paid for a site i have been a member of for 2 days?

Ignore them mate, you will get used to them?

[kimchi]

46 minutes ago, Roy said:

Slow down!

You've been given good advice from Kman and Pete already. Digest it. Don't keep asking for more when you've been given enough to go on.

 

Yes, kimchi is right.

I don't come across as friendly sometimes.

Don't get carried away Mac....it will cost you in the long run 

Nah @Roy is right don't listen to me, he knows the game and I'm just a poor soul who doesn't have a beer fridge or a lady to make me kimchi He pretends to moan about both but we all know he's the luckiest chap in the world!

Seriously, great advice you've been given! Digest what you've been given already, don't rush in big time! I did before I found this place and the wonderful advice here

[Kman]

3 hours ago, Mark10110 said:

Well yes, I work as a gas engineer... I give free advice and quotations so on that principle, yes.

your not making me feel welcome because I haven't paid for a site i have been a member of for 2 days?

Personally I don't think premium membership should be pushed and you're welcome to ask as many questions as you like 

 

 

[Kman]

3 hours ago, Mark10110 said:

the silver market future uses like solar panels, everytime i try searching it always ends up with a taste of alex jones or david icke in it.

 

I start reading and they start with silver and its uses and then they all trail off into a "new world order are bringing fiat currency to a collapse" and I lose intrest

lol yes most paths do seem to lead to global monetary collapse in those videos

I don't really know anything, I have a feeling silver will go up or at least holds in value over the years but I don't stack it

I only really buy gold

I like gold not as much as an investment on it's own but because I don't like to keep all my savings in the bank. I also like gold because I can store or transport £10,000 worth very easily, could pop it in my pocket(s) if need be, whereas with silver it would be a hassle

I also like to try and buy numismatics that I think will appreciate in time and I have a pretty good track record with it; The 2017 proof sovereign is a good example, £435 bought and sells for £700 or so now

If you're interested in pm's for making money in the short term, the best way to do it imo is to learn as much as you can about numismatics and collected coin series and watch out for bargains or new releases you're confident you can flip

 

 

 

 

[gavinfry]

hi mark i am pretty new also and not a pm when i first started collecting silver it was mostly old coins that i thought were scrap but after advice from members on here i can see they will make more money if i resell them i still pick up anything i can made of silver like jewelry and spoons and trays from second  hand shops and always pay way under spot so i cant really lose in the long run as long as silver prices keep rising in say the next twenty years thats when i intend to cash evey thing in so always look for things under spot and you cant go wrong good luck on your new venture.

[tbone]

Hi Mac,

In my experience I changed my outlook on silver and stacking in general as time went on.  This is probably true with a lot of PM investor/stackers.  Back in '08, the thought was (for me) that I was protecting myself and my family from a very possible financial collapse.  It later turned into ideas that I would make a nice profit over time.  Now, I have more realistic ideas I think. 

But your point about saving money (in silver) instead of spending on some amazon nonsense or whiskey or whatever is excellent.  This is my viewpoint these days.  Do I think it will appreciate over time, yes.  More than other investments?  Probably not for generic bullion anyway.   But if it interests you (beyond the idea that it might go "to da moon" someday), then it can be a powerful motivator (and fun way) of saving over time.  Gold too (get both ;-)

As for the conspiracy theories, you'll find them everywhere with PMs.  I just take most with a grain of salt, but realize that even if some are mostly true, it doesn't necessarily mean the result will be higher silver or gold prices.  But I do believe that if you take the slow and steady approach over a long period of time (decades), then you'll have an impressive collection (and have fun doing it).

Note: if you're into flipping coins for short term profit, check out Shadow stack on youtube.  For a more numismatic channel, check on Numistacker.  You probably found these 2 by now, but thought I'd mention them.

[Guest]

19 hours ago, Mark10110 said:

the silver market future uses like solar panels, everytime i try searching it always ends up with a taste of alex jones or david icke in it.

 

I start reading and they start with silver and its uses and then they all trail off into a "new world order are bringing fiat currency to a collapse" and I lose intrest

There are a lot of crazies out there.

Stacking Silver/Gold is a good way to preserve wealth. Any meteoric rises should be looked at as a bonus.