Is silver bullion dead in the UK?

[AurumArgenti]

I'm sure it's been asked and suggested before but is buying silver bullion a extremely long shot for investment purposes in the UK? 

 

I'm new to PM but silver seems like a long shot compared to gold. The new market is strangled by Vat in the UK and secondhand prices are no where near spot price in general.

I'm I missing something or just uninformed?

I'd love a nice fat bar of silver but I can't justify it unless it's a gamble or a massive punt?

I would love to know people's opinions.

Thanks for reading.

[Shinus73]

No, it’s not dead, but you have to ensure that you’re not paying significantly more than what you could sell it for, which means lots of research.

[SILVERFINGER]

I watch items daily on ebay and anything decent on there being sold by someone decent always has plenty of bids on it and sells for reasonable amounts, I will keep stacking silver because I like it, I am not going to go mad doing it and am only diverting 'dead' money towards buying it.

[HawkHybrid]

https://www.youtube.com/watch?v=3tZ_0PBeaV0

 

vat aside, profits from silver are very timing

dependent. holding silver is nothing like holding

gold. they each should be researched independently

of each other.

 

HH

[Provvidenza]

Buying Silver is a gamble, but it is cheap and easy to buy, I think it could get more difficult if cheap silver is no longer available from Europe. I'm hoping to pick more up silver over the next couple of years and then basically wait for a big spike in price to cash in some, but not all of it.

[musketsmoke]

i am having the same problem with prices of things

its proving hard to buy what i need for close to what i can sell it realistic for , so gonna make things out of it to see if that works 

every 4th or 7th day i manage to find something reasonable 

DEALS they are out there dont give up if thats what you want to do 

[Tickety]

Silver about 10 - 12 years ago used to be regularly sold on eBay for about £6 an oz, it's all relative. I am not sure it's the best investment in the world, a mid proforming investment trust would have given you a greater return over the same time frame.  Now a days there are stackers and then there are collectors and some where in the middle there are people that do both. Is Silver a mainstream investment? Probably not, but it is fun and the speculation of to the moon, is a great show to watch. 

[Shinus73]

19 minutes ago, Tickety said:

Silver about 10 - 12 years ago used to be regularly sold on eBay for about £6 an oz, it's all relative. I am not sure it's the best investment in the world, a mid proforming investment trust would have given you a greater return over the same time frame.  Now a days there are stackers and then there are collectors and some where in the middle there are people that do both. Is Silver a mainstream investment? Probably not, but it is fun and the speculation of to the moon, is a great show to watch. 

It’s a pretty good investment if you bought at £6/oz. 😊

[Guest]

I had the exact same train of thought when i starting looking into precious metal, silver almost seems like a silly idea considering your losing money as soon as you buy it, but as others have said, good deals can be found. I bought 10 Silver Eagles and 10 Britannia a few months ago at a decent price, because the scrap price has moved up a little i could potentially make £100 profit if i sold them (going by what i paid and Ebays going rate)

Increasing demand for technology, solar, hybrid vehicles etc should hopefully drive it up, as it is an industrial metal too. I got into this through crypto currency investment so i see this as a fairly safe bet/store of value personally. I only started investing in January this year, but in my honest opinion, i dont see silver going much cheaper than £11 an oz any time soon. Thats just my opinion though

[SILVERFINGER]

Well I have not lost any money on any of the silver I have bought, my 100g bars I paid £40 each for those, they are a fair bit more than that now, just had a look my 1kg bar I paid £420 for, and these were all new prices not on the second hand market, yes I have had them some years, but if you are patient it will pay off, and most of you are younger than me and have longer to wait if need be.

[musketsmoke]

20 minutes ago, SILVERFINGER said:

Well I have not lost any money on any of the silver I have bought, my 100g bars I paid £40 each for those, they are a fair bit more than that now, just had a look my 1kg bar I paid £420 for, and these were all new prices not on the second hand market, yes I have had them some years, but if you are patient it will pay off, and most of you are younger than me and have longer to wait if need be.

probably a spring chicken getting tail feathers

[Silverclown]

Silver will always go up and if it goes down that’s great because the buying power of twenty years ago, you would of got more into days market in then yesteryear.

Pros of silver(or some).

+you beat inflation 

+government doesn’t know you have it

+gold/silver ratio 

 

 

[SILVERFINGER]

Silver price drops time to buy

Silver price climbs time to sell

win win

[JackKlugman]

Silver stacking in the UK is unecomomical because of 20% VAT. You would have to see a 20% increase in prices just to get your money back and that might never happen.  As someone pointed out above as soon as you buy silver in the UK you have lost money. Getting it for under spot (as seems common with american youtubers and stackers) seems impossible in the uk. 

I am a collector not a stacker and wont ever have more than a few thousand in the metal at most. Even platinum is taxed in the uk. Gold or property is the most solid investment 

[seasidestacker]

15 hours ago, AurumArgenti said:

I'm sure it's been asked and suggested before but is buying silver bullion a extremely long shot for investment purposes in the UK? 

 

I'm new to PM but silver seems like a long shot compared to gold. The new market is strangled by Vat in the UK and secondhand prices are no where near spot price in general.

I'm I missing something or just uninformed?

I'd love a nice fat bar of silver but I can't justify it unless it's a gamble or a massive punt?

I would love to know people's opinions.

Thanks for reading.

'is silver bullion dead in the UK' ?

I would say its the complete opposite IMHO.

I recently went to my local gold and silver shop thinking it would be a good idea to strike up some rapport and become a regular customer, he refused to sell me the silver coins he had in the window but obviously offered to buy any silver coins I had. he was unmoved when i was literally trying to stuff cash in his hand. we had an interesting chat and he pulled out a container ( about the size of a shoe box) full of old sovereigns and was eager for me to purchase them instead. true story.

he was an old boy and has being in the game a long time, maybe he just wanted to unload a load of old sovereigns or maybe he is playing the long game ( which, as i mentioned, is risky at his age XD ), but never the less I take this to be a good indicator on the strength of silver.

[KDave]

Tax and premium both make physical silver a difficult investment compared to gold but it's not dead. Buying and selling for example, you can't buy and sell to a dealer unless prepared to take a hit on realised profit. 

If you want a massive bar, think how do you sell it and to who. How do you verify it. How do you transport or post it. Then once it's worked out buy it or don't. I considered a 5 kilo bar but after working it out it made more sense to get 5 X 1 kilo bars which were much easier to sell.

[sixgun]

19 hours ago, AurumArgenti said:

secondhand prices are no where near spot price in general.

If you have any of that dead silver bullion for sale at now where near spot price, please give me first refusal.

[SILVERFINGER]

42 minutes ago, KDave said:

If you want a massive bar, think how do you sell it and to who. How do you verify it. How do you transport or post it. Then once it's worked out buy it or don't. I considered a 5 kilo bar but after working it out it made more sense to get 5 X 1 kilo bars which were much easier to sell.

Totally true, I only want one because its a phallic thing 

[TonyS]

47 minutes ago, KDave said:

If you want a massive bar, think how do you sell it and to who. How do you verify it. How do you transport or post it. Then once it's worked out buy it or don't. I considered a 5 kilo bar but after working it out it made more sense to get 5 X 1 kilo bars which were much easier to sell.

I’m looking at buying a 100ozT Britannia bar for my son. It will be his problem if he decides to sell.

The more sensible option would be ten 10ozT Canadian bars.

[AurumArgenti]

43 minutes ago, sixgun said:

If you have any of that dead silver bullion for sale at now where near spot price, please give me first refusal.

Why would you want silver at " no where near spot price " ? I'm confused. It doesn't take a lot too make me confused though.🙃

[sixgun]

9 minutes ago, AurumArgenti said:

Why would you want silver at " no where near spot price " ? I'm confused. It doesn't take a lot too make me confused though.🙃

i was maybe hoping you had some dead bullion that was under the spot price. 

[AurumArgenti]

1 minute ago, sixgun said:

i was maybe hoping you had some dead bullion that was under the spot price. 

Ah I think you misunderstood me 🙂. I was saying it's pretty much impossible to buy second hand at near spot price. If you know of anyone selling genuine silver at close to spot I'll have buy some too. 😉

[sixgun]

47 minutes ago, AurumArgenti said:

Ah I think you misunderstood me 🙂. I was saying it's pretty much impossible to buy second hand at near spot price. If you know of anyone selling genuine silver at close to spot I'll have buy some too. 😉

Well if it is pretty much impossible to buy second hand silver at spot price, then if you were going to sell it you would be able to sell it for more than spot price. 

The issue is people sell to dealers who in many cases will give them less than spot. So don't sell to dealers. Buy and sell your silver on the silver forum - you will pay the cost of postage. It's all sorted then isn't it. There is a lot of silver goes through the forum - no advertising costs - get yourself a premium membership - silver membership is enough and then you will see the deals from day one. Put an alert on the selling forum and that of the other sellers like @arshimo2012 - then you will be emailed when items are posted. You will save your membership costs very quickly. This week i got some nice (gold) coins and i am very happy with what i bought - i have spent tens of thousands here - we are a good bunch of people - this is not a hell hole like ebay or fakebook. With Mo (arshimo2012) i get him to collect together what i buy until it is enough to send - special delivery 2kg - this helps keep down the postage costs. Every little helps, he is a 100% seller so no fears whatsoever to do this. 

At the moment silver isn't as popular as gold but these things move in cycles. Keep calm and get stacking.

[Abyss]

45 minutes ago, AurumArgenti said:

Ah I think you misunderstood me 🙂. I was saying it's pretty much impossible to buy second hand at near spot price. If you know of anyone selling genuine silver at close to spot I'll have buy some too. 😉

120 oz Silver recently sold 5% above spot on The Silver Forum.

[sixgun]

1 minute ago, Abyss said:

120 oz Silver recently sold 5% above spot on The Silver Forum.

@AurumArgenti  What a bargain - so where were you? Do the right thing - get a membership and get on the inside track.