-
The above Banner is a Sponsored Banner. Upgrade to Premium Membership to remove this Banner & All Google Ads. For full list of Premium Member benefits Click HERE.
Rincewind2016
Reputation Activity
-
Rincewind2016 got a reaction from theman73 in Britannia KCIII 2024, American Eagle 2024, Maple Leaf 2024, Krugerrands 2024, Philharmonics 2024, silver coins
Hi, can I have 4 Krugerrands please.
-
Rincewind2016 got a reaction from theman73 in China Panda 2024 £25.50, Kangaroo 2024, Koala 2024, Somali Elephant 2024
Hi, can I have 4 panda's please
-
Rincewind2016 reacted to sixgun in Silver Monitoring Thread £ (GBP) only.
Most of the silver coming to market is a byproduct of other metal production - mainly copper and zinc. Silver is an added bonus to the profit line in their production. If these metals are produced then there will be silver. The AISC of the pure silver mining plays isn't that important b/c if copper and zinc are mined and refined there will be silver. If all the silver mines closed, the average AISC would drop very low - not to zero but not $18. During the electrolytic copper refining process, sludge drops to the bottom of the refining tanks - this contains silver and some other precious metals. It is there for further processing without any mining required.
The main cost in mining is energy. Mining is very heavy on energy. Digging millions of tonnes of rock out of the ground, crushing and processing it needs a lot of energy. So the cost of all metals including silver is directly linked to the oil price.
There are some who claim we have passed peak oil and the oil price in the next few years will start climbing which would innevitably feed into metals prices. i remember hearing about peak oil 20 years ago and it never happened. The idea of peak oil is that oil is a fossil fuel - the product of decomposed vegetation cooked inside the Earth. Then once an oil field runs dry that's it - it's all gone. This is a faulty theory when you consider oil has been drilled for over 12km down by both the Russians and Qataris. Plant matter was never growing that far down. Oil and gas are produced inside the Earth in a chemical reaction - as far as we are concerned there is unlimited oil and gas. Oil fields can 'run dry' but given time they fill up again. This happens but of course Big Oil isn't about to broadcast ideas like oil is the second most plentiful liquid on the planet isn't good for business.
-
Rincewind2016 got a reaction from lst65 in Silver Monitoring Thread £ (GBP) only.
I made the same mistake, I bought 3 or 4 of the Queens beasts when they was first released as well as a few other silver and gold coins.
So glad I found this forum as well 😁
-
Rincewind2016 reacted to lst65 in Silver Monitoring Thread £ (GBP) only.
I made the mistake of spending about £1,800 with the Royal Mint at full retail price and added VAT before I discovered the lovely people on this forum. Cost me a fortune in VAT that I’ll probably never get back unless Silver ‘hits the moon’ 😅🤣
-
-
Rincewind2016 reacted to CadmiumGreen in April 2021 Premium Member Prize Draw
@Rincewind2016, Congratulations on the win!
-
Rincewind2016 reacted to SilverApples in April 2021 Premium Member Prize Draw
congratulations @Rincewind2016
-
Rincewind2016 reacted to Solly in April 2021 Premium Member Prize Draw
Congratulations! @Rincewind2016
-
Rincewind2016 got a reaction from DanielCooper in June 2021 Premium Member Prize Draw
Congratulations
-
Rincewind2016 got a reaction from MetalsMan in April 2021 Premium Member Prize Draw
Fantastic news 😀 thank you
-
-
-
-
-
Rincewind2016 reacted to Scaffstacker in April 2021 Premium Member Prize Draw
Congratulations @Rincewind2016 awesome prize 👏🏼
-
Rincewind2016 reacted to Kussilver in April 2021 Premium Member Prize Draw
Congratulations to the winner 👍
-
-
Rincewind2016 reacted to ChrisSilver in April 2021 Premium Member Prize Draw
Congratulations @Rincewind2016 you are this Prize Draw's winner, please private message me your shipping address including '2021 Perth Mint 1oz Kookaburra' in the subject line and we will get your Prize Dispatched
-
Rincewind2016 reacted to silversky in The future of silver, VAT and import charges into the UK now a Deal has been done!?
I realise that European firms are supposed to remove the VAT for export but I suspect that they won't make the effort to remove these odd margin VAT scheme charges. They will just sell it as they do to everyone and the UK will slap 20% on top.
I don't think that this is a potential money maker for the HMRC. All of the Royal mint product goes abroad without VAT applied. It then has dealer margins applied in Europe and the HMRC gets nothing. If they think that all of the trade from UK buyers buying from Germany will continue in the UK and they can cream 20% off British citizens they are not thinking straight. All they will do is kill the market. The 20% doesn't exist for them and never has. It's kind of like the cigarette duty that you hear them crying about losing billions of pounds over each year. The hooky tobacco that enters the country is NOT lost duty for the revenue. It is an imaginary market because many of those people who were paying half price for their tobacco simply can't pay full price (the UK duty) and would give up.
If the gov think they can tax 20% a small market and expect it to continue they are idiots. Far better would be to abolish it and bring the centre for silver bullion trading back to the UK. It was stolen by the Europeans years ago when VAT got applied selectively. All trade moved to the VAT workaround zone and the bullion market in silver was lost. Real idiots run governments because all revenue from it was lost. Time to bring it back and promote our bullion dealers instead. I think I will write to my MP pointing this out and suggest that now is the time to give our bullion industry a boost.