/SG/

Nude_Bikergirl
Nude_Bikergirl

let's talk silver /biz/bros.
what will happen monday morning, will the price drop a bit or go up to 20.XX ? any news on any bigtime investors cornering the silver market ?

like many others in here who believe in precious metals, last week I made a good sum of money out of the recent price appreciation. bought it at 15, sold half of what i have at 18.

give us your predictions.

Deadlyinx
Deadlyinx

@Nude_Bikergirl
During the last runup in the late 2000's I bought mid cycle (19's) and sold early (around 24's). It continued going up to the 40's while I watched like a moron.

So the a answer is yes, I will buy some very soon. I don't know yet how long I will hold though.

TreeEater
TreeEater

Where to buy silver in the UK?

BlogWobbles
BlogWobbles

@Deadlyinx
i bought at 15 and you know what's funny? i can't sell at profit at 20. physical is so cumbersome.

StonedTime
StonedTime

@Deadlyinx
Kek, still have one chinese 1 oz coin i bought for about 35 Euro. It serves as my reminder. (also collectibles)

buy low sell high.

whereismyname
whereismyname

@StonedTime
but in case of physical metals buy very low and sell extreme high or get fucked

Supergrass
Supergrass

@whereismyname
Yeah absolutly i dont think it is a reasonable strategie for trading. But physical makes for a nice inheritance for your kids. :^)

farquit
farquit

@BlogWobbles
Location? Places like the UK are fucked for physical investments...

Inmate
Inmate

@BlogWobbles
why tho? is there noone that buys silver slightly under market price?

Snarelure
Snarelure

@Inmate
buying physical comes with lots of costs and premium.
usually when you want to sell quick ie not for a private investor they only pay somewhat below spot.
which means there is a 20-25% overhead on it and you have to pay taxes after your gains and in case of silver there is vat at a lot of places. so the costs trading physical can take up to 50% overall in extreme cases.

BlogWobbles
BlogWobbles

@Inmate
many shops turn down offers just because they're not sure if they will make money or not, but if it stabilizes they would definitely buy.
usually small shops sell to big companies, like bordergold in the northwest, rarely have I heard they turned someone down.

RumChicken
RumChicken

@Snarelure
Correct. Anyone looking to merely trade the runup should use a silver ETF.

Boy_vs_Girl
Boy_vs_Girl

@RumChicken
*ETC

RumChicken
RumChicken

@Snarelure

Is this an issue in the US? Or is this a UK thing?

Illusionz
Illusionz

its dropping, i sold already, will not risk

Gigastrength
Gigastrength

@RumChicken
dunno about them but spread on bullion silver coin in my country is 51-55% with retailers and how vat plays into this varies between retailers and their sources.

you can decrease this spread by buying from like estonia some vat free coins but there is still a significant premium on them 18% plus there is the delivery cost. overall like 20% over spot on the buy. and you can sell them around spot maybe if you are lucky. but you have to pay income tax on the difference.

i'm thinking about writing a fake contract with some dude about storing my coins and the fees for the storage so that my "profit" disappears on paper and i won't have to pay any tax on them.

Deadlyinx
Deadlyinx

bought again, no regrets, its fuckin going

TreeEater
TreeEater

@TreeEater
Goldcore is good. They will even hold it for you so you can basically trade it easily.

Big question is where to sell bullion - do those pawn shop places give anything close to spot price?

Firespawn
Firespawn

@TreeEater
pawn shops love to bargain.
as far as i know, spot price applies to all silver, including pure scrap silver, cables or chains/jewellery.

RavySnake
RavySnake

@Illusionz
i think you made a mistake.

kizzmybutt
kizzmybutt

@Deadlyinx
4 figures, just during dinner!
Gotta love it.

DeathDog
DeathDog

@TreeEater
If you don't need to take physical possession, BullionVault (a British company) allows you to buy and sell allocated silver bullion. They also allow you to buy and sell allocated gold bullion.

Bidwell
Bidwell

@TreeEater

BullionVault.com are the best UK broker have found. They have a peer to peer exchange and hold the metals for you.

Snarelure
Snarelure

its going to keep going up, people are going to keep freaking out over this brexit thing, as well as the next jobs report on friday, if that turns out to be bad as everyone is expecting odds are interest rates will be lowered if not stay the same, if this happens then we can continue to ride the gravy train

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