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About Pete

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    North of London
  • Stacker/Collector

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  1. Think it is alarming that the media focuses on the number of deaths of elderly frail people or others with severe underlying conditions who may have been tested positive for Coronavirus. Chances are that if you are in and out of hospital for other things you are more likely to catch this virus but that's not necessarily what you died from. It would be interesting to know the number of deaths "exclusively due to Coronavirus" - i.e you are a normal person without any major health issues, contract Coronavirus then die. I bet the number is quite low by comparison. I am not undermining the seriousness of this pandemic just that the figures are likely to be totally misrepresentative.
  2. Yes - USPS ends up becoming Royal Mail so there is an automatic charge of £8 to pay plus 20% VAT on the declared value including shipping. You will get a card through your door advising that you need to go to your RM collection point and pay to receive the package. If a courier is used and the sender has only paid to the UK port of entry then charges can be in the many tens of pounds plus VAT - needs to be a service paid door to door which often isn't that different to the port.
  3. I enjoyed your video - very well done !! HOWEVER - pause for breath. When did you start your venture into PMs ? Some of us were stacking silver in 2011 and 2012. A bullion ounce coin ( cheapest source e.g. Germany with 7% VAT at the time ) would set you back around £35 and that was seen as a bargain as prices were forecast to rocket higher due to demand etc. Financial people were at that time advising to accumulate even more as a safe bet as fiat was going to collapse. Been there and still wearing the tea shirt ( cannot afford a suit after swapping good fiat for silver ) !! Maybe you started this addiction when silver was closer to £10 an ounce but how many years will it take for some of us old timers to even expect to break even, whereas with low inflation our fiat would have been quite safe ? Try imagining you made and released this video in Q1 2013 and watched it again a year later !
  4. I was about to suggest DHL but checking their excluded items they specifically mention bullion. What courier you find you must check to see if bullion can be shipped and also check to ensure you have adequate insurance as loss may only be covered to the value of shipping.
  5. I am not convinced that the price of silver is set by industrial demand. Maybe the exact opposite because if the price is too high the demand will reduce or industry will try to find alternative materials. The price is set by the cost of production / mining AND the financial institutions that trade silver contracts to one another and countries like China, India and Russia buying physical that don't trust the USA dollar long term.
  6. Couple of points to consider from my experience - 1. You will only save on the 20% VAT buying within the EU ( will end due to Brexit in the not too distant future ) where a seller operates the margin scheme. You will not save VAT buying from outside the EU e.g. the USA. 2. Collectible numismatic silver coins can be imported from outside the EU paying only 5% VAT. Usually this involves appealing the 20% VAT automatically charged at the point of importation. It is NOT VAT free. Secondhand silver can be rated for 0% VAT even in the UK but no dealers operate this scheme or if they do they add extra margin to the price to make up the difference. 3. Selling on eBay ( normal rate excluding special deals ) will cost 10% in fees and a further 4% approximately PayPal fees. Taking into account the other costs in buying from the EU like shipping, exchange rate and/or money transfer fees unless buying say £1,000 of coins in a single transaction comes pretty close to paying the 20% VAT so there is a reasonable chance that you will not make much of a profit selling on eBay unless lucky. The profit you will make is more likely the difference between the price you paid your EU dealer versus that charged by a UK dealer excluding VAT etc.
  7. and E.M. are totally wiped out of these coins so where can you currently purchase ? Prices for regular bullion silver like ASEs and Maples have shot up in the USA possibly due to demand and the ability to sell at higher than normal prices - who knows for sure ? Spot at $14.50 approx and price for an ASE $25 ( APMEX ) so a hefty margin. Whatever happened to the spot + $1 pricing ?
  8. Pete

    Storage Question

    I'm no chemist but I fail to understand this advice. Gold will not tarnish. Silver will tarnish from contaminants, usually in the air like smoke etc. but if kept in a clean environment silver should remain shiny. I've got silver stored with gold for 10+ years and both are fine. I've also got some silver coins with gold highlights so unless someone knows different I think this guidance is questionable. However 24ct gold is a relatively soft metal and maybe the fear is harder silver coins can rub against the gold and damage the gold surface.
  9. Pete

    GSBE storage delivery

    I've got coins on store as well and have experienced the following - Coins shown as available, ordered, paid for them and asked to be stored. Added other orders with some coins waiting stock. Checked website and all coins shown as available and in stock yet my order still showing as waiting for stock. Coins now in store but the very first ones no longer available. What I though should happen is that when you order and ask to store, your coins are immediately allocated to you. What I think can happen is that your coins are sold to other buyers with expecting further deliveries to replace but gets let down by suppliers so just when you believe everything is ready to ship, some are missing that were previously available at the time of original order.
  10. I've not been watching eBay prices of late but was surprised at the pricing of basic silver bullion - ASEs and Maples in the USA. Check APMEX for example. Instead of selling a dollar or two over spot they have a significant premium. Is this market demand forcing speculative pricing upwards perhaps ? Why not ?
  11. Everyone who has a portfolio of shares, funds etc invested in ISAs and / or a SIPP will be crapping themselves after seeing dramatic falls in the majority of funds over the past week or so. Many people will have lost well over 30% in value at a stroke. Lifetime savings decimated and a real concern for anyone looking to retire now hoping for a decent pension. Hence my question - When you invest in a range of good solid funds that contain a mixture of investments and is run by a team of highly paid fund managers, how can you loose so much ? These financial "experts" are meant to see events happening in milliseconds before the rest of us. That's what they are paid to do. So when we hear about investors selling stocks and switching to cash or bonds etc they are protecting themselves from big losses. Why therefore do the 5 star top funds fall almost in line with indexes like the FTSE 100 ? Surely these experts should have sold funds and gone into safer havens so their portfolios wouldn't drop in value as much. The idea of fund managers is to not get caught off-guard; buy when there are the prospects of dividends or Company gains etc and good news in the pipeline BUT sell when the markets are falling to protect profits and values. Looking at my portfolio it seems more like investing in a casino.
  12. I from personal experience agree wholeheartedly with Nick1368 I sold a significant quantity of FDC ( that's the best condition and would earn the top grade ) proof gold coins and boxed coin sets last year. Most of my buyers weren't interested in the boxes or the certificates and I have dozens of empty boxes that I would like to get rid of. When I contacted some bullion dealers to try and get a better price they were offering me to buy similar sets they wanted to shift at spot + 5%. The price I got for most of these proofs was very close to spot and those that I took to Hatton Garden Metals I received about 97% of spot. When I purchased these lovely coins and sets I was paying between 15% and 20% over spot. Lesson learned and I am staying clear of proofs and special editions at grossly inflated prices. There will always be the odd coin that bucks the trend but that's for someone else to buy. As Nick1368 also says the condition is unimportant if there are scratches or dings on the coin selling to a trader. You will likely get a marginally higher price selling a 24ct coin over a 22ct equivalent even containing the same weight of fine gold.
  13. This is bad news and sorry to hear you've just lost your job. There's going to be lots of life changing events for many in the coming weeks and months. What matters most is health and provided you have shelter and food the rest is a bonus. It might not seem that way right now but there are thousands of people about to die prematurely to this virus. If you are going to need cash to pay essential bills then perhaps take advantage of the high gold price and sell. You should never put yourself into a fire sale position of having to sell an asset that could drop suddenly. A gold coin isn't going to pay for your grocery shopping and avoid the "we buy any gold" pop-up merchants who may not give you the best prices. Admittedly the price of gold may continue to rise so where is the peak ? You have to do what you feel comfortable with and don't listen to others who are not in your position right now and that includes me, but I would sell my gold if I was likely to run out of money in the next 3-6 months.
  14. Kids off school. Lots of people not having to return to work likely getting near full pay ( 80% paid by others i.e UK taxpayers ) probably topped up by their employer. Decent day weatherise with warm sunshine. Too many a$$holes thinking this is the start of extended holidays and maybe even complaining of shop, pub and restaurant closures. Only got to go to a main hospital to see what's happening and the strain on NHS staff. This is no joke and not helped by TV interviews of healthy people saying they tested positive. Try getting an interview with an unconscious patient on a ventilator. The sh!t is about to hit the fan and the lager louts joking about pub closures need to grow up.
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