Where to buy physical Gold/Silver Bullion at Market price?

bery_451

Okay coming back to this thread now after 3-4 years I like to say I hope my thread gives value to the readers that will hopefully help with their investment decisions to protect their wealth.

In summary of this thread, physical Gold & Silver prices are more expensive than market prices because theres a premium to pay over spot market price for these precious metals if you want the real actual precious metals in your hands otherwise to get cheaper market prices you have to buy the paper version or electronic version of gold/silver called commodity ETC's or ETF's but you don't get the real thing but the paper electronic contract versions are suited for traders who want quick liquidity and physical real gold/silver possession is suited for long term hodlers who believe paper fiat money wont recover to 2007 highs values when the dollar and pound gbp index were at all time highs before the 2008 financial crisis and 13 years on these currencies still haven't recovered to their former high prices!

Chancellor says annual Inflation target is 3% max per year meaning paper money loses 3% value annually in a compounded way. For example:

£100 saved in bank account is worth £97 after a year because thats 3% off. Then 3% off £97 then so on, you get the picture. Even after 10 years saving it will still say £100 on balance screen but prices of everything went up 3% annually in the meantime meaning your 100 quid is worth less and can buy less as time goes on because shops and companies dont like weaker devalued currencies so they increase prices 3% annually to compensate the weaker paper money. Ever wondered why yours bills, internet phone bills get 2-3% adjusted annually. Its because of this inflation.
Lets not talk about Hyper-Inflation, that will scare a lot of readers!

Gold/Silver & even Bitcoin is suppose to be a hedge against this devaluation of paper money and should protect your wealth. Bitcoin is for the newer tech generations as Gold Silver is old fashioned biblical money but both still serve their purpose of protecting your wealth.

Why paper money goes down in value you say? Its because bank of England interest rates at record lows that encourages debt and borrowing not saving meaning we are living on debt with this debt bubble getting bigger and one day it will burst. Also central banks printing money out of thin air creating more supply of it. Basic economics 101 lesson teaches us if there's more supply than demand then value of it goes down.

I wonder what's the point of taxes when the government can borrow cheap money with low interest rates from the private central bank that has created it out of nothing? Central banks overhead costs are ink and printer paper so unless trees and ink goes up in price massively like bitcoin then central banks can still make a profit because they can easily can because of interest they get back. Heck they can reduce these costs because instead of printing it they can just type it on they keyboard electronically. When you print money out of nothing theres no risk of lending it out hence the low interest rates central banks offer.

Imagine turning up to work at bank of england printing factory and your being paid minimum wage only to see and realise they can print out your whole life worth and value in a fraction of a second. How does the worker working there value this?:
https://www.youtube.com/watch?v=eRbKkfkAH2s
Why does a armed robber risk getting 20 years in jail to rob a bank of thousands for just getting paper money? Doesn't make sense.

Heres the main charts to look at to see, rule is when currencies goes up gold/silver goes down and vice-versa. Look at the monthly chart for a clear long-term picture to predict where prices will go:
https://finviz.com/futures_charts.ashx?t=6B&p=m1
https://finviz.com/futures_charts.ashx?t=DX&p=m1
https://finviz.com/futures_charts.ashx?t=GC&p=m1
https://finviz.com/futures_charts.ashx?t=SI&p=m1

Okay coming onto main questions:
UK says it supposedly has a deal with the EU so does that mean buyers can buy and import physical silver vat free from Europe now after Brexit?
Platnum is more rare than Gold and is a superior metal to gold so why its cheaper than gold?

HansOndabush

bery_451 said:

Okay coming onto main questions:
UK says it supposedly has a deal with the EU so does that mean buyers can buy and import physical silver vat free from Europe now after Brexit?
Platnum is more rare than Gold and is a superior metal to gold so why its cheaper than gold?

I think all EU countries DO charge VAT on silver; the lowest is Switzerland at 8%. However when you import it into the UK any VAT due would be payable.

Platinum has never been money in the same way that gold and silver have. It is an industrial metal and valued as such rather than as a store of value like gold and to a lesser extent silver.

Rarity alone does not imply a high price unless there is also demand.

fwor

bery_451 said:

Platnum is more rare than Gold and is a superior metal to gold

In what way is it superior? If you want the metal with the higher electrical conductivity, which is superior? If you want a metal with the highest thermal conductivity, which is "best"? It's a meaningless statement unless you say how you intend to measure which one is superior.

Lammasu

HansOndabush said:

bery_451 said:

Okay coming onto main questions:
UK says it supposedly has a deal with the EU so does that mean buyers can buy and import physical silver vat free from Europe now after Brexit?
Platnum is more rare than Gold and is a superior metal to gold so why its cheaper than gold?

I think all EU countries DO charge VAT on silver; the lowest is Switzerland at 8%. However when you import it into the UK any VAT due would be payable.

Platinum has never been money in the same way that gold and silver have. It is an industrial metal and valued as such rather than as a store of value like gold and to a lesser extent silver.

Rarity alone does not imply a high price unless there is also demand.

Yes unfortunately you can no longer get VAT free / low VAT silver from Europe (unless you live in NI), since 1st January. In addition to the VAT charges you'll probably be charged by the courier for the admin process too. Gold is still VAT free as there is no VAT in the UK. You can occasionally get 2nd hand silver bullion classed as 'VAT free' by some dealers but not very common. In terms of other metals Palladium has gone up a lot recently due to supply issues and use for hybrid vehicles whereas Platinum has struggled- maybe in part due to the decline in diesels where it was used in catalytic converters.

Lammasu

sydney2002 said:

Looking to buy some physical silver, and gift it to my child for their 21st birthday. I am U.K. based, never done this before, so looking for advice on how I can buy ? 

Cheers folks

There are lots of dealers like
-Atkinsons
-Chards
-Hatton Garden Metals
-Bullionbypost
-Royal Britannia Coins
-Some Costco physical stores
As said elsewhere you will be charged VAT on silver which can make it expensive. Gold is still VAT free and you can bars as small as 1g for about £60 (varies with gold price). You can also get smaller British coins like half sovereigns for under £200 which are Capital Gains Tax exempt.

DavidT67

Lammasu said:

HansOndabush said:

bery_451 said:

Okay coming onto main questions:
UK says it supposedly has a deal with the EU so does that mean buyers can buy and import physical silver vat free from Europe now after Brexit?
Platnum is more rare than Gold and is a superior metal to gold so why its cheaper than gold?

I think all EU countries DO charge VAT on silver; the lowest is Switzerland at 8%. However when you import it into the UK any VAT due would be payable.

Platinum has never been money in the same way that gold and silver have. It is an industrial metal and valued as such rather than as a store of value like gold and to a lesser extent silver.

Rarity alone does not imply a high price unless there is also demand.

Yes unfortunately you can no longer get VAT free / low VAT silver from Europe (unless you live in NI), since 1st January. In addition to the VAT charges you'll probably be charged by the courier for the admin process too. Gold is still VAT free as there is no VAT in the UK. You can occasionally get 2nd hand silver bullion classed as 'VAT free' by some dealers but not very common. In terms of other metals Palladium has gone up a lot recently due to supply issues and use for hybrid vehicles whereas Platinum has struggled- maybe in part due to the decline in diesels where it was used in catalytic converters.

Over last 12 months.

  Silver  UP  35%

  Gold  UP  12%

  Platinum  UP  ~4%

  Palladium  DOWN  -6%

  Rhodium  UP  97%

All quite volatile week on week and month by month.

bery_451

We officially entered Recession Bank of England says.

Government can only get money income via 2 ways: taxes or the money printer at the bank of England ready to lend to the govt. at the cost of higher inflation continued more higher prices and possibly brace for hyperinflation.

New prime minister Liz Truss is cutting taxes and putting price caps on energy and funding Ukraine to fight Russia and helping the rich bankers and many more, if taxes are being cut then that means the only way to fund all this is via the money printer.

So £GBP fiat currency crashed earlier reaching nearly parity with the $dollar 1:1  I remember £1 use to get you $2 or even at least $1.50. Even during Brexit referendum and after Brexit the £gbp wasn't this all time low. Brexit doesn't matter anyway because the Euro currency looks dire like the pound too.

Its not a coincidence that the Queen's currency with her face/head on it is crashing after her death. I doubt bank of England will replace all physical fiat coins and notes with the new king's charles face on it and instead crash the current £gbp pound, sink it like the titanic and bring out a new CBDC central bank digital currency cashless crypto system to save the day if people buy into it.

The only way for the bank of england to save the £gbp pound now is increase interest rates to above the inflation rate but they cant because government/national debt is too high over leveraged so raising interest rates on a pile of debt is financial suicide on this country.

Bank of england can temporarily stop the pain of the crashing £gbp by selling $US bonds then buy £pounds with it to try prop up the pound from death but how much £US bonds does the UK have?

Why does Liz truss thinks that she can make UK a Tax haven? Isn't there already better tax havens out there? What kind of stupid gamble is she doing to this country? It looks like its over.

Gold is getting more expensive even though the price of gold in $dollars is going down because it takes more £pounds to buy gold now because all commodities are settled internationally in dollars because its world reserve currency.

 

Prism

bery_451 said:

We officially entered Recession Bank of England says.

Government can only get money income via 2 ways: taxes or the money printer at the bank of England ready to lend to the govt. at the cost of higher inflation continued more higher prices and possibly brace for hyperinflation.


 

Thats not the case at all. The government borrows money from the banks and markets. The BoE doesn't need to be involved and doesn't need to create more money. In fact they are starting to reduce the money supply.

bery_451

Prism said:

bery_451 said:

We officially entered Recession Bank of England says.

Government can only get money income via 2 ways: taxes or the money printer at the bank of England ready to lend to the govt. at the cost of higher inflation continued more higher prices and possibly brace for hyperinflation.


 

Thats not the case at all. The government borrows money from the banks and markets. The BoE doesn't need to be involved and doesn't need to create more money. In fact they are starting to reduce the money supply.

UK bond prices are crashing because normal banks and the markets are not buying them, they see it as high risk hence the higher interest rate yield for these UK bonds. Higher yield implies higher risk. People with bad credit history get credit offered to them but at a higher risk interest rate.

So only the bank of england is left to buy these UK bonds via their money printer.

InvesterJones

bery_451 said:

Prism said:

bery_451 said:

We officially entered Recession Bank of England says.

Government can only get money income via 2 ways: taxes or the money printer at the bank of England ready to lend to the govt. at the cost of higher inflation continued more higher prices and possibly brace for hyperinflation.


 

Thats not the case at all. The government borrows money from the banks and markets. The BoE doesn't need to be involved and doesn't need to create more money. In fact they are starting to reduce the money supply.

UK bond prices are crashing because normal banks and the markets are not buying them, they see it as high risk hence the higher interest rate yield for these UK bonds. Higher yield implies higher risk. People with bad credit history get credit offered to them but at a higher risk interest rate.

So only the bank of england is left to buy these UK bonds via their money printer.

But that's not the case yet. At the moment the market is buying them, just at higher premiums.