Best place to buy silver bullion?

aubergine99

HansOndabush said:

The spot silver price can rise and premiums can narrow which means you make more money on contracts.

The buy/sell spread is huge on physical coins plus there is VAT on purchases in the UK. There are other options than just buying physical. You have let yourself be led by the Reddit brigade.

If you want to trade silver then the ETFs are the way to do it; they aren't going to implode anytime soon. Some of the better ETFs are closed funds with allocated silver in a recognised vault.

If you want to hold physical outside of the banking system then BullionVault is a very cost-effective way.

If you want to hold bullion yourself then just google the suppliers and take the best price; obviously better if you are buying bars and aren't trying to buy coins they are out of. Good luck.

Hi.  In your opinion, is it better to hold allocated silver with BullionVault or have a silver ETF?  If there's a market crash, wouldn't the ETF drop with it or not?  I was led to believe that gold and silver retain monetary value.  Slightly confused over this. 

HansOndabush

aubergine99 said:

HansOndabush said:

The spot silver price can rise and premiums can narrow which means you make more money on contracts.

The buy/sell spread is huge on physical coins plus there is VAT on purchases in the UK. There are other options than just buying physical. You have let yourself be led by the Reddit brigade.

If you want to trade silver then the ETFs are the way to do it; they aren't going to implode anytime soon. Some of the better ETFs are closed funds with allocated silver in a recognised vault.

If you want to hold physical outside of the banking system then BullionVault is a very cost-effective way.

If you want to hold bullion yourself then just google the suppliers and take the best price; obviously better if you are buying bars and aren't trying to buy coins they are out of. Good luck.

Hi.  In your opinion, is it better to hold allocated silver with BullionVault or have a silver ETF?  If there's a market crash, wouldn't the ETF drop with it or not?  I was led to believe that gold and silver retain monetary value.  Slightly confused over this. 

It's a good question and depends on your outlook.

Silver held in BullionVault is outside the banking system, is physically allocated and stored in third-party vaults. On those grounds it is a good choice. The negatives are that unfortunately BullionVault charges twice as much to store silver as it does gold but if you are buying say £20K then the fees are comparable to ETF charges. Secondly, although I have no worries about BullionVault, it has to be said that there is no FCA protection so do your own due dilligence.

ETFs are a good choice for trading, holding short-term, and if you entirely trust the financial system i.e. that it won't collapse and that the ETF is actually backed by the physical they say it is. I would thoroughly recommend the PSLV Sprott silver fund traded on the NYSE as it is a closed-end fund that actually does have allocated silver held at the Canadian Mint. All other ETFs are open-ended which means they issue shares on demand and hope to source the physical to match. These other ETFs generally hold unallocated silver which means that the custodian can play all sorts of tricks like lending it out and in a crisis, it may turn out that there are several claims on the silver that you thought was exclusively yours. Baring a silver melt-up or banking collapse, they should be fine; but if you are hedging against hyperinflation then you dont really want to rely on general silver/gold ETFs .

If there were a general stockmarket crash then there would be no reason for the ETF price to change unless the price of silver changed. If you look back at the March 2020 crash though, you will see that in that crash, silver sold off as well so of course the silver ETF prices also went down. So the answer depends on whether silver is sold off in a stockmarket crash or not. Generally it would be, at least initially, but would perhaps not fall as much as shares generally.

Hope this helps.

R200

Gold now passing $2000, in fact new all time highs in all currencies around the world.

Silver has still not gone up yet, just make sure it’s real silver and not paper or digital illusions of wealth

noitsnotme

R200 said:

Gold now passing $2000, in fact new all time highs in all currencies around the world.

Silver has still not gone up yet, just make sure it’s real silver and not paper or digital illusions of wealth

Brilliant!  You’re replying to one of your own threads you made under one of your old accounts 😆