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BackyardBullion

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  1. Super Like
    BackyardBullion reacted to Madstacks in Getting fighting fit?   
    Update- Weekly weigh in was yesterday - lost exactly 2 lbs. In these circumstances and because obesity is dangerous for this virus i would like to lose faster - but i have been weight lifting so even if i gained a 1/4 - of a pound of muscle that would be helpful longer term. 
    Start weight - 22 stone 1 lb
    Current weight - 21 stone 7 .3/4 lbs
  2. Super Like
    BackyardBullion reacted to Madstacks in A Novice Guide to investing in Physical Silver in the UK   
    This post is my entry to the writing comp and aimed at new buyers:)
                                                                              
    A Novice guide to investing in physical silver.
    Introduction.
    First a Bit about myself, I am a small time personal UK investor who has been buying silver for the last two years - I made some mistakes but now have my investing very well covered. I am just your average person looking to preserve wealth and indeed grow it at the right market time.
    Starting to invest in Physical silver is an exciting and slightly daunting experience with plenty of potential lessons to be learnt.
    My aim for this post is to help new investors not make the same mistakes I did and save some money, I will also teach you how you can make silver profitable in the UK in a Flat market! this post is aimed at new small public investors/collectors just like myself and I hope that you Enjoy the read and learn a few lessons along the way.
    Before we start - for reference here is a few terms and silver purities that you may or may not know but will need to learn. (If you are not completely new to physical silver investing you may want to skip this page.)
    Widely recognized silver purities..
    .500 - 50% pure - used in pre 1947 pre decimal coinage
    .800 - 80% pure - used in continental silver
    .900 - 90% pure - used in older American coins
    .925 - 92.5% pure , also known as "Sterling Silver"
    .958 - 95.8% pure , also known as "Britannia silver"
    .999 - 99.9% pure , Investment grade silver known as bullion
    Terms & references
    Spot price - current market value of 99.9% pure silver
    Numismatic - Highly collectible often vintage coins with value well in excess of the silver content.
    Semi Numismatic - Modern collectible bullion coins
    Stack - a physical silver collection/portfolio
    Exit strategy.
    Whilst it Might seem strange to start a post on silver investing with talk on how to exit the market, In my opinion this question is key to what you should buy. When I first started buying this is a question I had not even considered, I was just blindly buying ounces of silver.. And whilst that got me started on the path to building a core stack (this is how a physical silver bullion portfolio is often referred too) it ultimately led me to have swap some of my stack around to suit my needs, so it is a good idea to ask yourself this question now.
    So When the time comes and you would like to exit the market, be it taking some profit on silver bought or selling due to other reasons..How would you like to do so? there is two main options and each one has different Silver that is suited better to each strategy..
    The cut and run quick hassle free exit..
    Silver has performed well and you want a quick exit, you don't want to be dealing with multiple people, you don't want a long wait to get squeeze every penny..You want to take to a refiners and get the cash instant with no hassle!!
    In this case I recommend you buy the cheapest recognizable silver you can lay your hands on, regardless of condition - refiners pay by weight and nothing else matters. Here in the UK pre 1947 coinage contained 50% silver and can be regularly obtained at "spot price" and without paying the dreaded VAT that UK buyers have to pay.
    Refiners pay as much for this taken into account its purity as they do for shiny .999 pure bullion so this makes it a very attractive for the quick exit strategy.
    It Is worth considering that This form of exit strategy is highly tied to the current market value of silver, and often needs 1 - 5 + kg to get the best price for your silver.
    The yearly flip for profit..
    This is an entirely different strategy and is a lot less certain than the first... whilst the last strategy is a quick exit from the market if needed it is highly tied to the spot price of silver.. This strategy is partially tied to the "collector" market and can turn yearly profits even in a falling market if you pick the right coins.
    For this method you buy what is known as "semi numismatic coins" Numismatic means the coin has collectible value above the metal content.
    Have a look at the "Lunar" from the Perth mint and the prices they command, every year brings a new collectible coin and new collectors of the series to the market, and regardless of silver price last year's coins USUALLY command more than this year's..Though this is not guaranteed..
    So in effect you can buy coins, wait a year or two and then resell for a profit, even in a downwards trending market these coins usually still perform well and doing this can lead to more silver for your stack.
    This strategy is also tied to spot price but more loosely than the cut and run strategy. If you don't mind putting in a bit of work then these coins can really work for your stack and enable you to grow it with raised revenue from sales, however these coins generally cost a little more and sales can take much longer than the cut and run strategy. They also need to be sold privately to maximize returns.
    Some semi numismatic series that have shown consistent returns when sold are as follows.
    Perth mint Lunar series
    Perth mint kookaburra series
    Chinese pandas
    Royal mint Britannia's
    There is constantly new Semi numismatic series coming out and choosing the right one can give lucrative returns however I would go with tried and tested series to begin with.
    I believe Diversity is key, and that it is a safe bet to spread you purchases into both of these categories. However one may stand out as more suitable for you.
    All that sound like a bit to much hassle?..
    Lets return to the cut and run strategy.... you can use many other types of silver for this... Have a look and see what your local refineries pay for different purities and what suits your location, it may be something completely different like 92.5% sterling
    In my case 50% silver sourced from eBay gives the smallest margin between price I pay and what I can sell it to the refiners for, but in your location this may be different, do check and see what's best for you.
    Now let's talk about where it is best to source your physical silver from and as a treat for UK readers how to completely and legally bypass VAT on semi numismatics, this one tip alone could save you a small fortune! I really wish I knew this when I started!
    To source your silver you have three main options..
    1. online bullion dealers - read reviews before you buy from any company but this is the safest way to buy bullion, when buying from reputable dealers you can be assured you have the real deal, from time to time special offers will pop up and you can order as much silver as you can afford to buy.
    Here is a list of reputable silver dealers that can be trusted, I have no affiliation with any of these companies whatsoever, but have personally used several of them and know others who have used the others.
    For UK..
    Atkinson's bullion
    Bullionbypost
    Hatton garden metals
    Chards

    2. online auctions..
    Online auctions can be a great source of well priced silver (along with a lot of very over priced silver too!) If you know what you are looking for It is a great tool, however when you are just starting it can be a potential minefield with a lot of fake silver out there..I recommend new investors if using eBay stick to hallmarked products and old coinage that contained silver..Stay clear of bullion till you know what you are doing and how to test silver is genuine..online auctions can be great!

    But Beware! 
    There is many terms that unscrupulous sellers try to peddle fake silver bullion under, if you see any of these terms online DO NOT BUY.
    Plated - Very thin coat of silver over base metal.
    layered - the same as plated .
    Clad - the same as plated.
    Tibetan silver - base metal contains no real silver.
    German silver - again contains no real silver.
    Do you feel lucky?!
    3.carboot/yard sales, charity/thrift shops and private sales...
    Bargains can be had in all of these locations if you fancy the thrill of the chase, however this is more for a bit of fun and it is hard to obtain much silver this way. it's a case of getting lucky so you may like to look but it is not practical to use this as your main source..I once found 4 gold sovereigns for £40 total at the carboot sale - but i had to go many many times before finding a deal like this! 
    These three options are the main ways of buying physical silver in the UK and indeed the world over........But what I am about to share with you is possibly the best bit of information you will receive in this whole post, How to obtain semi numismatic coins without paying 20% VAT. Many do not know this, you can sell these coins on eBay strait away and profit in a flat silver market!
    This one bit of information can save you a small fortune and really make a difference to your stack in a huge way if you are a UK collector/investor..
    Semi Numismatic coins are not eligible to pay vat on if ordered from outside the UK under the VAT margins scheme for second hand goods - art and antiques.
    Since the Semi numismatic coins are classed as collectible they fall under this scheme, and VAT is only payable on the dealers margin on the coin NOT the coins total cost, Giving us the buyers a HUGE saving compared to buying in the UK..This only works with coins not bars!
    I source my Coins from a well known Dealer in Germany and Pay vastly less per coin than I would have to pay in the UK for the same coin!
    I could take that Coin and sell it immediately online for a profit to someone who does not know this information, and it would be still cheaper for the buyer than ordering from a UK company! (usualy)
    This only works for Semi numismatic coins and this really makes them an attractive opportunity.
    Semi numismatic coins are also beautiful and great to collect yourself!
    Investing in Silver can not only be a great way to financial freedom, it can lead you down new paths you may have never seen yourself take. It can also be a great hobby with a great online community with a wealth of information out there.
    Good Luck! 
  3. Haha
    BackyardBullion reacted to Bullionaire in Getting fighting fit?   
    Seth, are you Britney Spears?

  4. Like
    BackyardBullion got a reaction from zhoutonged in Getting fighting fit?   
    Sorry, you swam 20km in under two hours?
    You swim at more than 10km per hour?
    The world record for a 10km swim marathon is 1hr 52....
    Did you get your distances right?
  5. Like
    BackyardBullion got a reaction from RacerCool in Working on a spreadsheet. Formula for calculating 90% silver value.   
    Multiply the overall weight of the coin by 0.9 or 0.4 that will tell you the weight of pure silver.
    10 gram coin of 90% silver has 9 grams of silver content.
    14.5 gram coin of 40% silver has 5.8 grams of silver.

    Added 0 minutes later... Then multiply by spot price in grams to get value
  6. Haha
    BackyardBullion reacted to silenceissilver in Getting fighting fit?   
    I didn't know you are the grandson of Johnny Weissmuller, can you also yell like him?
  7. Haha
    BackyardBullion reacted to zhoutonged in Getting fighting fit?   
    It sounds like a World Record to me 😂
  8. Haha
    BackyardBullion reacted to zhoutonged in Getting fighting fit?   
    Ive just done the math, thats one lap every 20 seconds 🏆
  9. Haha
    BackyardBullion reacted to zhoutonged in Getting fighting fit?   
    But if the World Record for 1.5 km is under 15 mins, you're doing that 13 times over at less than 9 mins per 1.5 km. Its got to be a record.
  10. Like
    BackyardBullion got a reaction from AuricGoldfinger in Self Employed ???   
    There are issues even around parity.
    A CEO on £250,000 per year can be furlowed and for £2500 per month.
    Joe blogs plumber declaring £50,001 earnings gets nothing.
  11. Like
    BackyardBullion got a reaction from MancunianStacker in Self Employed ???   
    @MancunianStacker
    To the best of my understanding nothing at all from the tax year 2019-2020 will count.
    The extension of deadlines to submit is only for those who didn't submit 2018-2019 returns by the usual deadline of the 31st Jan 2020.
    Even though it is possible to submit your 2019-20 return in a few weeks, it won't matter for both average calculations and also for being eligible at all.
  12. Super Like
    BackyardBullion got a reaction from 5huggy in Working on a spreadsheet. Formula for calculating 90% silver value.   
    Multiply the overall weight of the coin by 0.9 or 0.4 that will tell you the weight of pure silver.
    10 gram coin of 90% silver has 9 grams of silver content.
    14.5 gram coin of 40% silver has 5.8 grams of silver.

    Added 0 minutes later... Then multiply by spot price in grams to get value
  13. Haha
    BackyardBullion reacted to MancunianStacker in Self Employed ???   
    Yup, I started in May 2019, so I was just about to make my first Tax Return. Glad I haven’t done it yet (it needs “adjusting”). 
  14. Like
    BackyardBullion got a reaction from MancunianStacker in Self Employed ???   
    Pretty sure that dividends are for those who take money from a LTD company 
    This scheme specifically targets sole traders and freelancers that essentially run their own business and it is their own personal self that is the business entity, no legal business name. The individual is the taxable entity.
  15. Super Like
    BackyardBullion reacted to RYAN05 in Self Employed ???   
    I'm that plumber 😭
    Worked so hard and feel let down.
  16. Super Like
    BackyardBullion reacted to Martlet in Self Employed ???   
    It is parity for the basic model self employed person vs model employed person.  Problem is there are so many variations of self employed.  The employed package isnt all its cracked up to be either, many businesses wont qualify and rely on loans, not get the loans, so fold.  Over all the financial package is great headlines but lacking in delivery, a lot of money pledged wont ever make it to the businesses and people needing it right now. 
  17. Like
    BackyardBullion got a reaction from Argentknight in Working on a spreadsheet. Formula for calculating 90% silver value.   
    Multiply the overall weight of the coin by 0.9 or 0.4 that will tell you the weight of pure silver.
    10 gram coin of 90% silver has 9 grams of silver content.
    14.5 gram coin of 40% silver has 5.8 grams of silver.

    Added 0 minutes later... Then multiply by spot price in grams to get value
  18. Thanks
    BackyardBullion got a reaction from grongla in Self Employed ???   
    From what I understand - you can also apply for universal credit.
    You will be contacted by HMRC if you qualify for this scheme as a self employed person.
    So nothing to do until you do/don't get a letter presumably in the next month....
  19. Super Like
    BackyardBullion reacted to Sherabnamdhak in Apologies   
    This is an open apology to Bullion Billy who kindly sold me a wee Falcon. I have just this minute opened his exceptional package and it goes without saying that I am well pleased, it also proves that the members of this forum are some of the most trustworthy people I have met. I received the wee birdy on the 28/2 and only opened it as I said today. Something to do with a nasty bug going around lol. So this is my first opportunity to say thanks to a fellow collector. Again I am sorry for my tardiness and I thank him again.
     
    Kind Regards
    Sherab Namdhak
    (David Martin)
  20. Like
    BackyardBullion got a reaction from Kman in Self Employed ???   
    Well, not great but better than nothing.
    Going to take a long time to get cash though, that's not good at all.
    Also, it's an average.
    These numbers are rounded to annual profits to make maths easier.
    So if your business has been growing and you make £10,000 in year 1 | £20,000 in year 2 | £30,000 year 3 then your average is going to be £20,000
    Then you only get 80% of that being £16000
    So that is pretty close to 50% of what you are earning now....
    That is hardly parity for those affected like this.
    But, it works the other way if your profits have gone down these last 3 years....
    Same numbers reversed means you get a £6000 per year payrise on the government!
    Doesn't seem fair really.
  21. Like
    BackyardBullion got a reaction from Ansel in WAKE UP people ! - before some don't WAKE UP!   
    I have heard from @5huggy
    I am sure in time he will be back
  22. Like
    BackyardBullion got a reaction from Mark43 in Coronavirus (SARS-CoV-2) information; no need to be panicked by the virus – but be by your police state!   
    @silenceissilver
    I'm not disagreeing with your statements.
    But if you ignore the current advice more people will die sooner than they would otherwise have done.
    The issue I have is people promoting sentiments of "if enough people ignore it there is little they can do" are socially irresponsible in my opinion.
  23. Super Like
    BackyardBullion reacted to Serendipity in 1911 20 French Francs - Marianne Rooster   
    1911 20 French Francs - Marianne Rooster

     
    I recently bought this 1911 20 gold French franc from @ChardsCoinandBullionDealer after watching a YouTube video of @BackyardBullionback in 2017 showcasing his Marianne Rooster which he bought at a coin show. I purposely bought my Marianne Rooster restrike to serve as my “lucky coin” during the coronavirus pandemic. I would like to think that the fair French maiden Marianne won’t allow the pandemic to deprive us all of our inalienable rights to life and personal liberty.
    The obverse of the 1911 Marianne Rooster with a mintage of 5,346,044 by Monnaie de Paris depicts a beautiful laureate right-facing bust of the French maiden Marianne. The oak-leaf wreath encircling Marianne’s conical Phrygian or liberty cap symbolises the strength of the legend République Française (French Republic) surrounding her bust. The Third Republic arose after the fall of Napoleon III because of the ill-fated Franco-Prussian War in 1870 and survived through World War II. The Marianne bust was designed by Jules-Clément Chaplain, a French sculptor, who was one of France’s finest medalists. With Louis-Oscar Roty he helped found the Art Nouveau movement. 
    Marianne has been the national personification of the French Republic since the French Revolution, as the personification of its official motto Liberté, Égalité, Fraternité (Liberty, Equality, Fraternity) and reason, and a portrayal of the Goddess of Liberty. Due to the high copper content, 90% gold and 10% copper, the Marianne Rooster like Marianne’s red Phrygian cap displayed in paintings takes on a distinctive golden reddish hue. The Marianne Roosters with only .900 gold fineness are not regarded as investment coins in the US which require a minimum level of .995 gold purity.
    The French national motto, Liberté, Égalité, Fraternité, surrounds the unofficial emblem of France, the left-facing Gallic Rooster (Le Coq Gaulois, Gallic Cockerel) strutting across a flowering meadow, struck in reverse alignment. The national motto is also a prominent part of the edge lettering of the franc. The 20 francs denomination flanks the cockerel’s legs with the date, 1911, below which is flanked by the privy marks of a torch and a cornucopia. At 21mm in diameter, the Marianne Rooster is approximately 1mm smaller than a 22.05mm British sovereign which is why the coin is encapsulated in a 21mm direct fit air-tite capsule which I had to order specifically from the US.
    NOTE
    All dates from 1907-1914 have been officially restruck. They are not fakes, as officially minted with the original dies, but copies that were reminted 1921 and 1951-1960. Most collectors actually prefer the almost uncirculated restrikes to the worn circulated originals because they look sharper. The 1899-1906 originals can be differentiated from the restrikes by the edge lettering Dieu Protège la France (God Protect France). You can see a short video below which I made of the edge lettering Liberté, Égalité, Fraternité on my own 1911 Marianne Rooster restrike.

    IMG_1504.MOV
  24. Sad
    BackyardBullion got a reaction from kimchi in Coronavirus (SARS-CoV-2) information; no need to be panicked by the virus – but be by your police state!   
    @silenceissilver
    The government says stay at home to save lives. 
    I never have argued that staying indoors raises morbidity.
    But if you spread Coronavirus to someone who is vulnerable, they have a good chance of dying before their time. 
    So, I take the advice of my government.
    I will happily eat humble pie when this is all over if everything you say about the virus is true, but I know I would rather be safe than sorry, especially when the government takes it so seriously.
  25. Super Like
    BackyardBullion reacted to sovereignsteve in Coronavirus (SARS-CoV-2) information; no need to be panicked by the virus – but be by your police state!   
    What are you talking about? Did you actually read the article you screenshot?
    The Wuhan experience is not mentioned and is irrelevant.
    You say that 8300 have currently been infected in the UK. This is actual positive tests. As large scale testing hasn’t been carried out, this figure is likely to be a gross underestimate. By how much no one knows.
    The study has modelled the virus spread using data they have. It may be correct, it may not. Until large scale screening has been carried out, the true level of infection will not be known. Now that a serological test is available, this screening is now possible.
    Their results suggest a possible 50% infection rate. Therefore it has ravaged through the population with little more than a whimper; the vast majority of people showing such little symptoms as to barely notice. They may have thought they had a slight cold.
    This suggests the UK population’s immune system is excellent, as opposed to the “article doubted human immune system” as you so mistakenly say. It says that "some experts" have doubted the human immune system. That's some other un-named experts, not the ones writing this article 🙄
    You say “the facts are against this headline”, but the point is no one has any facts regarding the true level of Covid-19 infection in the UK. Until large scale screening is carried out, we will not know what the typical effect of the virus is.
    You continue to blindly take every piece of publicity as evidence for your obsession with conspiratorial psyops, murderous vaccinations, cashless society etc.
    You see it as sensationalist fear when in fact it is entirely the opposite.
    If their theory is correct, it debunks the Imperial College’s model that the Government has relied so heavily upon to enforce the current restrictions. It will mean that the UK population will already have developed sufficient “herd immunity” to immediately lift the restrictions or at least relax them, and let the virus blow itself out with just the vulnerable being protected. It will mean an end to the current economical stagnation and the country can get back to normal very soon.
    Of course their study could be completely wrong as well. These scientists frequently are.
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