Gold is not money (but it might be a good investment)

RDB

Harry_Powell wrote: »

I'd better buy some and probably some silvert too, and paladium I guess before it all runs out!

Dont worry about Paladium and gold stockpiles are getting bigger.

Silver on the other hand is being used up more than is being mined. Has been for years and thats why the stockpiles are getting depleated.

Harry_Powell

I'd better get me some of that there silver then. Pity about the VAT though.

RDB

Harry_Powell wrote: »

I'd better get me some of that there silver then. Pity about the VAT though.

Its going up in Jan to 20%.

Harry_Powell

make ssilver even less appealing, unless I can get it VAT free.

RDB

Harry_Powell wrote: »

make ssilver even less appealing, unless I can get it VAT free.

The only way to get it VAT free is to move out of the UK. But then you sell it for less as well. So its exactly the same in the end.

Just accept silver is 20% more expensive to buy in the UK, but its the same when you sell it. Yes you pay VAT when you buy it new or you can try and buy 2nd hand which is a little cheaper because there is no VAT. When you sell if you advertise it yourself you can sell it for about the same as the current price of silver with VAT.

The easy to get to silver has already been mined, almost all of the available silver has already been mined. The supply of newly mined silver now comes from mining copper zinc and lead. But its tiny amounts compared with before the proper silver mines ran out and very tiny amounts compared with how much the world is using up.

Housebear51

RDB wrote: »

The only way to get it VAT free is to move out of the UK. But then you sell it for less as well. So its exactly the same in the end.

Just accept silver is 20% more expensive to buy in the UK, but its the same when you sell it. Yes you pay VAT when you buy it new or you can try and buy 2nd hand which is a little cheaper because there is no VAT. When you sell if you advertise it yourself you can sell it for about the same as the current price of silver with VAT.

The easy to get to silver has already been mined, almost all of the available silver has already been mined. The supply of newly mined silver now comes from mining copper zinc and lead. But its tiny amounts compared with before the proper silver mines ran out and very tiny amounts compared with how much the world is using up.

If that were true about silver then the price would be higher than gold.

lvader

RDB wrote: »

Just accept silver is 20% more expensive to buy in the UK, but its the same when you sell it. Yes you pay VAT when you buy it new or you can try and buy 2nd hand which is a little cheaper because there is no VAT. When you sell if you advertise it yourself you can sell it for about the same as the current price of silver with VAT.

.

You would have to be rather stupid to buy Silver (privately) at around 20% over spot. In a market with prices going up that might well be possible, however if prices started to drop significantly you wouldn't find private buyers at any price.

Housebear51

So does anyone invest in silver bullion in the UK?

I know in the States its getting quite popular and in China too they are suggesting citizens to buy silver.

Are we going to be left out in the UK?

phil_b_2

Housebear51 wrote: »

So does anyone invest in silver bullion in the UK?

I know in the States its getting quite popular and in China too they are suggesting citizens to buy silver.

Are we going to be left out in the UK?

Maybe we have more sense over here?

Why would I want to go out and buy big useless chunks of metal?

Housebear51

phil_b wrote: »

Maybe we have more sense over here?

Why would I want to go out and buy big useless chunks of metal?

Because the modern world needs silver for industry.

Its far from useless the world is running out of it and it cant be replaced by any other element.

youtube.com /watch?v=XaIKgXrpf6Y&playnext_from=TL&videos=PJ-zxPjzxrg[/url]

Rich Dad says here there is less silver than gold on planet Earth right now.

"Silver is unusual, almost all of the available silver has been mined the rest is just coming as a by-product of mining other metals.

Silver is consumed in everything, its in your phone PC filters etc etc.

Silver is depleting is going down at high speed right now".

Very interesting.