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The-Joker

robmatic wrote: »

What's your average price? Silver has taken an absolute spanking over the last year.

With the VAT effect and the difficulties selling it, it has surely proved to be an awful investment for some.

Ha I don't know what your definition of an investment doing well is but silver has outperformed everything else including gold.

Yes my averaeg price has been more than £5 per ounce when I bought a lot in 2009, but I have been buying every dip since then.

Yes we just had a lovely dip just then, I reckon that silver will never again be as cheap as it is now. I have bought a little more recently around £17 per ounce, but I will continue to put around 10% of my income into silver more on the big dips like now.

VAT on silver has been done to death on these boards, yes you pay 20% VAT on top when you buy real silver but you get it back when you sell.

If you want to sell silver bullion you can advertise it just a little under what a dealer sells it for with VAT. So you actualy get more back because the 20% is going up every year as much as the silver does.

RenovationMan

Did anyone notice that, even after 12 lines of text, he didn't actually answer the question and reveal what his average price was? :rotfl:

robmatic

RenovationMan wrote: »

Did anyone notice that, even after 12 lines of text, he didn't actually answer the question and reveal what his average price was? :rotfl:

I certainly did notice that. I reckon someone weighed in when the price was much higher than it is now.

I also reckon a certain someone hasn't really thought their exit strategy through. If they are hoping to get the VAT back by selling privately and not via a dealer, any remotely significant quantity is going to be an absolute ball-ache to shift. And if the proceeds are cash, utilising them via a financial institution in going to trigger an anti-moneylaundering investigation pretty much automatically. I don't fancy all that.

JonnyBravo

Worry not rob. He doesn't have a large amount to shift.
He previously has disclosed he started by buying £10/month but nowadays buys £20/month.
That was swiftly deleted but several people saw it.
Nice to see your concern for him though.
And people reckon this can be a nasty place???

RenovationMan

Didn't one of the more vocal PM bugs post a photo of their stash and it amounted to a handful of coins and a small bar? I love how they talk big about their investments when they're penny ante merchants. :rotfl:

The-Joker

RenovationMan wrote: »

Didn't one of the more vocal PM bugs post a photo of their stash and it amounted to a handful of coins and a small bar? I love how they talk big about their investments when they're penny ante merchants. :rotfl:

Smeagold posted a picture of about 80KG of silver and over 100 ounces of gold coins. He bought this when the price was less than half what it is today.

Don't remember any other silver bugs posting a pic of a few bars.

Yes I am small time compared to Smegold, so what?

I am very happy to keep buying a at least a couple of ounces every month, when we get a big dip I buy a lot more.

That is 3 times now in the last year and a half that silver almost went down to $26 and change. This was the 3rd and last time this week and I am very happy I bought at every dip down here

If by definition then, gold and silver are true wealth, and they have been for the last 5000 years. If then you accumulate more ounces any given year than you had the year before then you are more wealthy regardless of the paper price. But that's not how people think, they think I bought at this paper price and its now at this lower paper price so I am less wealthy. Paper price is temporary. Paper price means nothing. There can be an infinite amount of paper ounces added to the market and sold at any time, it has nothing to do with the free market real value of real silver.


Count in ounces not units of dying paper currency. When real silver revalues to its true value all the paper promises will also revalue to their true value of nothing. As a goal I try to have more ounces of silver every year than the year before. It makes sense to buy on the big dips. But in years to come it will not make that much difference and many folks today just buy a little every month or so whatever the paper price is doing.

JonnyBravo

The-Joker wrote: »

Smeagold posted a picture of about 80KG of silver and over 100 ounces of gold coins. He bought this when the price was less than half what it is today.

He/you did no such thing.
Over $250k of metal. That he/you kept under the bed. Sure.
You're making it all up. Same as usual.

Changing your name doesn't mean we've magically forgotten how much silver you own.

RenovationMan

The-Joker wrote: »

Ha I don't know what your definition of an investment doing well is but silver has outperformed everything else including gold.

Yes my averaeg price has been more than £5 per ounce when I bought a lot in 2009, but I have been buying every dip since then.

Yes we just had a lovely dip just then, I reckon that silver will never again be as cheap as it is now. I have bought a little more recently around £17 per ounce, but I will continue to put around 10% of my income into silver more on the big dips like now.

So you're basically averaging up from when you originally bought in 2009?