Silver - anyone investing currently? Advice welcome.

trickydicky14

Selling gold advice please.

A friend sent me this.

I have a 22 carat gold, 1929 £1 Postal union commemorative gold stamp replica. Only 3,000 made in 1974. It weighs 40 grammes and has a total gold weight of 1.18 troy ounces.

To make the most with gold prices as they are how would I best go about selling it.

Hope you don't mind me adding this to the thread, saves starting a new one and it is about gold .

wmb194

trickydicky14 said:

Selling gold advice please.

A friend sent me this.

I have a 22 carat gold, 1929 £1 Postal union commemorative gold stamp replica. Only 3,000 made in 1974. It weighs 40 grammes and has a total gold weight of 1.18 troy ounces.

To make the most with gold prices as they are how would I best go about selling it.

Hope you don't mind me adding this to the thread, saves starting a new one and it is about gold .

See whether one of the coin dealers wants to buy it e.g., Chards has one or more in stock.

https://www.chards.co.uk/1929-postal-union-commemorative-stamp-replica-gold/9308

Harry227

wmb194 said:

Harry227 said:

wmb194 said:

Harry227 said:

DRS1 said:

Have you considered buying ETFs (or are they ETCs?) instead of the physical metals.  No VAT on the silver versions of ETFs.

I suppose it depends what you think you will be doing with the coins.

I've read about those.  For me personally however, I'd rather have something physically tangible near to me.  And anything digital is also a 'no'.

I was reading how in 1933 (I think) in the US, gold holdings by private individuals became illegal (I'm not sure what they did about gold jewellery) and had to be handed over to the US Government, for which people were paid in US dollars.  President FDR then promptly devalued the US dollar by 40%, thereby effectively taxing everyone!  It wasn't until 1971 that holding gold was made legal again. Part of the problem in 1931 was that Americans were withdrawing their gold and currency from the beleaguered banking system which was declared "a national emergency." That of course could never happen here!  But, if I had any gold being held for me by a company or institution in the UK, I would ponder on that it could be readily confiscated and forced exchange for ££££. It happened before. 

But it mattered a lot more back then because economies were on a version of the gold standard. These days why would governments need to confiscate gold? It's just another speculative asset.

You could very well be right.  But with the unprecedented massive International debt of largely Western countries being likely unsustainable, and with China amassing gold over the last few decades, possibly to challenge the US$, a return to a version of the gold standard may very well be a possibility.  

Recently, there have been doubts expressed about the quantity and quality of the USA's own gold reserves. 

Added that authoritarian countries appear to be upset by the US using its currency to coerce politically (such as banning Russia from the Swift system) then something is likely to change on the international finance field - or maybe not!  

As I said, it's prudent to hedge, but obviously we all have our own views, risk levels and act accordingly.  

Going back to my OP, I do feel silver is a more marginal 'bet', but maybe one worth taking for some and wanted to hear views on its purchase as I have found this forum to be a very helpful source of different perspectives. 

BIB; zero chance. The gold standard is far too restrictive on keeping economies productive. The problem with talking about gold is you quickly fall into end of the world nuttery.

Gold and silver is all greater fool theory stuff and if I were you I'd be worrying that you're buying at all time highs and succumbing to FOMO.

Nothing wrong in what you're suggesting, as it's your honest opinion, and you'll follow your own advice.   

I've been looking through the forum history on this subject and similar views were being expressed, re gold, as far back as 2017, and look how things have developed.  We may very well be at an inflated level and a precious metal crash is imminent - or we might not (to state the BO).

Regarding "end of the world nuttery", I've lived and worked for several years in third-world countries and have witnessed how circumstances might be, how quickly changes can occur, often beyond the imagination of those who have lived solely in our civilised, politically stable, Western bubble.  I've learned in these countries to always having a 'go bag' of important docs and such like, at the ready - most experienced expats do.  That's just sensible, nothing 'nutty' about that.  If there's ever one universal certainty, it's that everything changes, it's just a matter of how and when.  But again, I thank you for your advice that I might be psychologically succumbing to faulty motivations.  Still, at the very least it won't be a devastating loss and I'll be left with some shiny trinkets I can quietly gift to the grandchildren for their amusement.

wmb194

Harry227 said:

wmb194 said:

Harry227 said:

wmb194 said:

Harry227 said:

DRS1 said:

Have you considered buying ETFs (or are they ETCs?) instead of the physical metals.  No VAT on the silver versions of ETFs.

I suppose it depends what you think you will be doing with the coins.

I've read about those.  For me personally however, I'd rather have something physically tangible near to me.  And anything digital is also a 'no'.

I was reading how in 1933 (I think) in the US, gold holdings by private individuals became illegal (I'm not sure what they did about gold jewellery) and had to be handed over to the US Government, for which people were paid in US dollars.  President FDR then promptly devalued the US dollar by 40%, thereby effectively taxing everyone!  It wasn't until 1971 that holding gold was made legal again. Part of the problem in 1931 was that Americans were withdrawing their gold and currency from the beleaguered banking system which was declared "a national emergency." That of course could never happen here!  But, if I had any gold being held for me by a company or institution in the UK, I would ponder on that it could be readily confiscated and forced exchange for ££££. It happened before. 

But it mattered a lot more back then because economies were on a version of the gold standard. These days why would governments need to confiscate gold? It's just another speculative asset.

You could very well be right.  But with the unprecedented massive International debt of largely Western countries being likely unsustainable, and with China amassing gold over the last few decades, possibly to challenge the US$, a return to a version of the gold standard may very well be a possibility.  

Recently, there have been doubts expressed about the quantity and quality of the USA's own gold reserves. 

Added that authoritarian countries appear to be upset by the US using its currency to coerce politically (such as banning Russia from the Swift system) then something is likely to change on the international finance field - or maybe not!  

As I said, it's prudent to hedge, but obviously we all have our own views, risk levels and act accordingly.  

Going back to my OP, I do feel silver is a more marginal 'bet', but maybe one worth taking for some and wanted to hear views on its purchase as I have found this forum to be a very helpful source of different perspectives. 

BIB; zero chance. The gold standard is far too restrictive on keeping economies productive. The problem with talking about gold is you quickly fall into end of the world nuttery.

Gold and silver is all greater fool theory stuff and if I were you I'd be worrying that you're buying at all time highs and succumbing to FOMO.

Nothing wrong in what you're suggesting, as it's your honest opinion, and you'll follow your own advice.   

I've been looking through the forum history on this subject and similar views were being expressed, re gold, as far back as 2017, and look how things have developed.  We may very well be at an inflated level and a precious metal crash is imminent - or we might not (to state the BO).

Regarding "end of the world nuttery", I've lived and worked for several years in third-world countries and have witnessed how circumstances might be, how quickly changes can occur, often beyond the imagination of those who have lived solely in our civilised, politically stable, Western bubble.  I've learned in these countries to always having a 'go bag' of important docs and such like, at the ready - most experienced expats do. 

That's just sensible, nothing 'nutty' about that.  If there's ever one universal certainty, it's that everything changes, it's just a matter of how and when. 

But again, I thank you for your advice that I might be psychologically succumbing to faulty motivations.  Still, at the very least it won't be a devastating loss and I'll be left with some shiny trinkets I can quietly gift to the grandchildren for their amusement.

We're not living in Africa; talking about going back to the gold standard is nutty.

Gold has zero cash flows so how do you value it? Bitcoin's the same story but people are willing to pay a mad amount of money for it. There's arguably a bubble in at least part of the stockmarket as well. I'd tread carefully.

Section62

Harry227 said:

wmb194 said:

Harry227 said:

wmb194 said:

Harry227 said:

DRS1 said:

Have you considered buying ETFs (or are they ETCs?) instead of the physical metals.  No VAT on the silver versions of ETFs.

I suppose it depends what you think you will be doing with the coins.

I've read about those.  For me personally however, I'd rather have something physically tangible near to me.  And anything digital is also a 'no'.

I was reading how in 1933 (I think) in the US, gold holdings by private individuals became illegal (I'm not sure what they did about gold jewellery) and had to be handed over to the US Government, for which people were paid in US dollars.  President FDR then promptly devalued the US dollar by 40%, thereby effectively taxing everyone!  It wasn't until 1971 that holding gold was made legal again. Part of the problem in 1931 was that Americans were withdrawing their gold and currency from the beleaguered banking system which was declared "a national emergency." That of course could never happen here!  But, if I had any gold being held for me by a company or institution in the UK, I would ponder on that it could be readily confiscated and forced exchange for ££££. It happened before. 

But it mattered a lot more back then because economies were on a version of the gold standard. These days why would governments need to confiscate gold? It's just another speculative asset.

You could very well be right.  But with the unprecedented massive International debt of largely Western countries being likely unsustainable, and with China amassing gold over the last few decades, possibly to challenge the US$, a return to a version of the gold standard may very well be a possibility.  

Recently, there have been doubts expressed about the quantity and quality of the USA's own gold reserves. 

Added that authoritarian countries appear to be upset by the US using its currency to coerce politically (such as banning Russia from the Swift system) then something is likely to change on the international finance field - or maybe not!  

As I said, it's prudent to hedge, but obviously we all have our own views, risk levels and act accordingly.  

Going back to my OP, I do feel silver is a more marginal 'bet', but maybe one worth taking for some and wanted to hear views on its purchase as I have found this forum to be a very helpful source of different perspectives. 

BIB; zero chance. The gold standard is far too restrictive on keeping economies productive. The problem with talking about gold is you quickly fall into end of the world nuttery.

Gold and silver is all greater fool theory stuff and if I were you I'd be worrying that you're buying at all time highs and succumbing to FOMO.

Nothing wrong in what you're suggesting, as it's your honest opinion, and you'll follow your own advice.   

I've been looking through the forum history on this subject and similar views were being expressed, re gold, as far back as 2017, and look how things have developed.  We may very well be at an inflated level and a precious metal crash is imminent - or we might not (to state the BO).

Regarding "end of the world nuttery", I've lived and worked for several years in third-world countries and have witnessed how circumstances might be, how quickly changes can occur, often beyond the imagination of those who have lived solely in our civilised, politically stable, Western bubble.  I've learned in these countries to always having a 'go bag' of important docs and such like, at the ready - most experienced expats do.  That's just sensible, nothing 'nutty' about that.  If there's ever one universal certainty, it's that everything changes, it's just a matter of how and when.  But again, I thank you for your advice that I might be psychologically succumbing to faulty motivations.  Still, at the very least it won't be a devastating loss and I'll be left with some shiny trinkets I can quietly gift to the grandchildren for their amusement.

A 'go bag' makes sense if your circumstances mean you might have to go in a hurry.

But buying Gold/Silver as a means of effecting a financial 'go bag' is fundamentally flawed.  If a situation arises where you need your financial 'go bag' then who will you be selling the Gold/Silver to, and how will they be paying you for it?

If the answer is something along the lines of bartering for food/necessities in exchange for gold coins then really you are operating way beyond realistic scenarios.

ColdIron

A go bag of precious metals, it might work with gold. You could drop coins into your turn ups and pin them into your lapels when zee Germans come. But I fear that if you tried it with silver you would be just too heavy and clank far too much to escape attention 

jimjames

wmb194 said:

Harry227 said:

wmb194 said:

Harry227 said:

DRS1 said:

Have you considered buying ETFs (or are they ETCs?) instead of the physical metals.  No VAT on the silver versions of ETFs.

I suppose it depends what you think you will be doing with the coins.

I've read about those.  For me personally however, I'd rather have something physically tangible near to me.  And anything digital is also a 'no'.

I was reading how in 1933 (I think) in the US, gold holdings by private individuals became illegal (I'm not sure what they did about gold jewellery) and had to be handed over to the US Government, for which people were paid in US dollars.  President FDR then promptly devalued the US dollar by 40%, thereby effectively taxing everyone!  It wasn't until 1971 that holding gold was made legal again. Part of the problem in 1931 was that Americans were withdrawing their gold and currency from the beleaguered banking system which was declared "a national emergency." That of course could never happen here!  But, if I had any gold being held for me by a company or institution in the UK, I would ponder on that it could be readily confiscated and forced exchange for ££££. It happened before. 

But it mattered a lot more back then because economies were on a version of the gold standard. These days why would governments need to confiscate gold? It's just another speculative asset.

You could very well be right.  But with the unprecedented massive International debt of largely Western countries being likely unsustainable, and with China amassing gold over the last few decades, possibly to challenge the US$, a return to a version of the gold standard may very well be a possibility.  

Recently, there have been doubts expressed about the quantity and quality of the USA's own gold reserves. 

Added that authoritarian countries appear to be upset by the US using its currency to coerce politically (such as banning Russia from the Swift system) then something is likely to change on the international finance field - or maybe not!  

As I said, it's prudent to hedge, but obviously we all have our own views, risk levels and act accordingly.  

Going back to my OP, I do feel silver is a more marginal 'bet', but maybe one worth taking for some and wanted to hear views on its purchase as I have found this forum to be a very helpful source of different perspectives. 

Gold and silver is all greater fool theory stuff and if I were you I'd be worrying that you're buying at all time highs and succumbing to FOMO.

It's an interesting point. When stock markets reach a new high people are posting about being overvalued and crashing yet gold reaches new highs and people dive in. Makes no sense to me.

subjecttocontract

I bought a few new gold sovs around the year 2000 when the market was high. They cost £70 each, a gold sov now is around £500. So, wish I'd bought a few more.

I picked up some at auction about 5 years ago that cost me £160 each........they look like I got a bit of a bargain.

wmb194

When you see a "whoosh" like this it's often a good time to sell. The silver chart looks similar.

ColdIron

subjecttocontract said:

I bought a few new gold sovs around the year 2000 when the market was high. They cost £70 each, a gold sov now is around £500. So, wish I'd bought a few more.

2000 was a near historic low, the 'Brown Bottom' of 1999 - 2003. I bought several for £45/£50 ish during that period. A sovereign will cost you about £800 today

https://www.bullionbypost.co.uk/gold-price/30-year-gold-price-chart-ounce-gbp/#show-chart