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Silver stacking (Saving & investment)

  • 13-10-2019 12:21am
    #1
    jimmy5694
    Registered Users Posts: 77 ✭✭


    I’m exploring an investment option possibly medium to long term.

    The plan is to purchase and stack 1kg silver bars.

    According to XE.com (XAG) 1 silver ounce is £13.8835 (@ 22:01 12th October 2019)
    I’m not sure if this is a Troy ounce or ounce, I contacted XE.com for clarification.

    1g = 0.0321507 Troy ounce
    1000g = 32.1507 Troy ounce
    32.1507 Troy ounce X £13.8835 = £446.364243


    Having explored the market, prices include vat @ 20%


    ———————————————————————————————————
    Itemised list:

    Royal mint 1kg silver bar cast: £525.35
    Gold.co.uk 1kg silver bar: £592.56
    Silver gold bull 1kg kilo pur assorted silver £499.40 & £519.38
    Atkinson metalor 1kg silver bar £592.26
    Bullion by post 1kilo silver bullion best value £606.36
    UK bullion 1kg silver cast bar Baird co £593.64
    The gold bullion co metalor 1 kilogram silver cast bar £603.21

    ———————————————————————————————————

    Exploring the conversion rates XAG to GBP
    Today £13.8930

    Last month: highest: £15.0524 Lowest: £13.17130
    Last year: highest £16.0226 lowest: £10.7740
    5 years ago: highest £16.0226 lowest £9.0362
    10 years ago: £28.9955 lowest £9.0362


    I’m not sure if I’m going about this correctly as I have no experience or knowledge what so ever. However, I’m willing to learn.

    First question: am I going about this correctly?

    2nd: is silver stacking a dangerous or wise way to invest?

    3rd: I’m not sure what the best way is to offload the silver in the future, so far my only ideas are eBay, gold & silver pawn shops and the listed above retailers.

    4th: the markets listed above - are these the advised places to purchase as there is a wide deficit between xe.com and the above listings.

    Worthwhile idea? 7 votes

    Yes
    71% 5 votes
    No
    0% 0 votes
    Unsure
    28% 2 votes
    Tagged:


Comments

  • #2
    phantom_lord
    Registered Users Posts: 10,894 ✭✭✭✭phantom_lord


    You want to invest in something you don't know anything about, paying 20%+ market premium, with no idea how you'll offload it in the future, and you're asking is it a wise way to invest?

    Buying physical metals is for crackpots.


  • #3
    utyh2ikcq9z76b
    Closed Accounts Posts: 1,213 ✭✭✭utyh2ikcq9z76b


    Use bullionvault.com


  • #4
    jimmy5694
    Registered Users Posts: 77 ✭✭jimmy5694


    phantom_lord wrote: »
    You want to invest in something you don't know anything about, paying 20%+ market premium, with no idea how you'll offload it in the future, and you're asking is it a wise way to invest?

    Buying physical metals is for crackpots.

    This is just for general research and at the moment it would be absolutely “crack pot” to chuck money at the above plan.


  • #5
    q85dw7osi4lebg
    Closed Accounts Posts: 3,502 ✭✭✭q85dw7osi4lebg


    I'd be looking into Bitcoin before silver personally.

    Or gold at the very least.


  • #6
    pearcider
    Registered Users Posts: 1,033 ✭✭✭pearcider


    The VAT kills you on silver. Funny how they apply VAT to silver which is capital insurance for the small guy but not in gold which is the rich mans way to preserve capital. Anyway I digress...Buy online in Estonia and deliver. Personally I don’t see the point in buying huge lumps of silver bars. They are very hard to move and store. Just buy coins like silver eagles or philharmonics as they are a lot easier to sell. Or buy gold for larger investments.


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  • #7
    Kickstart1.3
    Banned (with Prison Access) Posts: 186 ✭✭Kickstart1.3


    I'd be buying Gold ahead of Bitcoin and Bitcoin ahead of Silver. Theirs just too many Silver mines with huge untapped silver yet to be brought to the surface. Bitcoin interest has been waning since its peek back in 2017, and some other more versatile crypto may eventually take its place.
    Gold has stood the test of time over thousands of years as a store of wealth, at $1485/ounce its not really worth buying unless you want a serious punt and buy 1kg of Gold for ~€45k. If Gold goes to $10k per ounce then you'd be looking at one hell of a ROI
    short term I see Gold and all the wealth stores falling back in price as consumer sentiment improves along with a possible partial trade deal between the U.S. and China


  • #8
    Jim2007
    Moderators, Business & Finance Moderators Posts: 9,987 Mod ✭✭✭✭Jim2007


    jimmy5694 wrote: »
    I’m not sure if I’m going about this correctly as I have no experience or knowledge what so ever. However, I’m willing to learn.

    You mean you are willing to pay to learn. When you have no experience whatsoever how can you even conclude that this is you best option right?

    You are buying a commodity and commodities are very hight risk and general are restricted in total to about 5% to 7% of a portfolio. And on top of that you are failing to diversify that risk.

    You would be well advised to adapt a Pick-And-Shovel play since you have no knowledge in this area if you really want to get into it. Something like a silver mine fund etc...


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