"Safe" investment, maybe gold?
Discussion
hard to say! Lots of 'narratives' about it's potential price. You coulds perhaps make the case that when someone like yourself who thought it might be a good idea in the past is feeling like ditching it, then it's perhaps at its least consider/thought of/desired in the market, and yet as it's actually used/useful this could actually indicate a low point?
You could get more for it on ebay etc, as 25 Brits will currently cost approx £660.
The vat added and the dealers buying back price, make it like buying a new car and it being so much less when it leaves the forecourt.
You need to sell it privately to lose the least/make the most.
You could get more for it on ebay etc, as 25 Brits will currently cost approx £660.
The vat added and the dealers buying back price, make it like buying a new car and it being so much less when it leaves the forecourt.
You need to sell it privately to lose the least/make the most.
ATM said:
Mr Whippy said:
I've been offered about £21/oz for silver for about 50 or so RM 1oz brits/lunar coins as best quote so far.
PM meDepending on your location I might know a buyer
I’m in the Nidderdale valley west of Harrogate.
Do check out the analysis by DitchTheDeepState on Twitter / the Silver Degen Club reddit forum re: the current silver situation - I'm aware it is always 'soon' 
but the analysis does suggest COMEX things are a bit broken and more likely than ever to 'moon' if/when released from the short-selling and other market manipulation techniques.
but the analysis does suggest COMEX things are a bit broken and more likely than ever to 'moon' if/when released from the short-selling and other market manipulation techniques.RSTurboPaul said:
Do check out the analysis by DitchTheDeepState on Twitter / the Silver Degen Club reddit forum re: the current silver situation - I'm aware it is always 'soon' but the analysis does suggest COMEX things are a bit broken and more likely than ever to 'moon' if/when released from the short-selling and other market manipulation techniques.
but the analysis does suggest COMEX things are a bit broken and more likely than ever to 'moon' if/when released from the short-selling and other market manipulation techniques.
So it's definitely happening this time?I’m happy to keep holding as it owes me nothing by now, but I can think of far better uses for £1,500 if it’s unlikely to even keep up with inflation, or just making interest in the bank, from here on out.
It’s funny how almost every other asset has gone up in this timeframe but silver hasn’t.
Even the whole commodity spike of the pandemic saw it do bugger all.
It’s funny how almost every other asset has gone up in this timeframe but silver hasn’t.
Even the whole commodity spike of the pandemic saw it do bugger all.
Mr Whippy said:
I’m happy to keep holding as it owes me nothing by now, but I can think of far better uses for £1,500 if it’s unlikely to even keep up with inflation, or just making interest in the bank, from here on out.
It’s funny how almost every other asset has gone up in this timeframe but silver hasn’t.
Even the whole commodity spike of the pandemic saw it do bugger all.
As mentioned, do check out DtDS's info on reddit/Twitter - there are some odd things going on regarding settlements, and their trading practices are far from transparent!It’s funny how almost every other asset has gone up in this timeframe but silver hasn’t.
Even the whole commodity spike of the pandemic saw it do bugger all.
Perhaps no change from usual... but Comex Registered is down 80% since 'the silver squeeze' movement kicked off and (IIRC) JPMorgan are now the sole custodian of SLV silver... and they have been totally legal in all their working practices up to this point.
Errrr....
r3g said:
RSTurboPaul said:
Do check out the analysis by DitchTheDeepState on Twitter / the Silver Degen Club reddit forum re: the current silver situation - I'm aware it is always 'soon' but the analysis does suggest COMEX things are a bit broken and more likely than ever to 'moon' if/when released from the short-selling and other market manipulation techniques.
but the analysis does suggest COMEX things are a bit broken and more likely than ever to 'moon' if/when released from the short-selling and other market manipulation techniques. So it's definitely happening this time?
It would/could happen with a simple sentiment shift, as it's a useful commodity, even a small increased interest in it as a store of value away from the fiat currencies would naturally see a supply issue and therefore price rise.
Some would argue this would have already happened if people weren't so completely comfortable 'owning' things on paper/electronically. The accepted position is that all the paper claims on silver can't be delivered, so plenty of people make the decision to own some Gold/silver but do it via an ETF so whilst they own it in principle they could never all practically get theirs hands on it!? It's like a fractional reserve system on a physical thing?
At any other time in history that wouldn't have been tolerated but it's now common place, in fact it's gone so far that you are the (literal) odd one out if you hold physical stuff over paper/electronic 'ownership'.
In the past even before any commerical uses for Silver it was used time and time again for money. Phoenicians in BC times, the Romans early AD, the US until the 60's 70's!
Then you look at history and when this was abused (Romans reducing the silver content, inflations of Germany 1920's Argentian 1970's etc) the US detaching from a metal backing and printing more and more currency would suggest an unhappy ending of some sort.
It's all about time(ing), looking at history it all looks inevitable, but inevitable doesn't mean imminent! it potentially occurs over decades/lifetimes. When it was happening no one thought they were being hoodwinked, perhaps we are in the midst of similar now?
Plenty of countries across the globe right now are, and have been for a few years, suffering from their currency letting them down and would have been better off owning something (anything) tangible over the currency. Egyptians have suffered a 50% loss in their currency value in just the last 3 years, so an equivalent £50K premium bond account there in 3 years buys you 50% less stuff which is then going to make you nervous of what the next 3 years holds! Inflations/currency devaluation can quickly become a spiral down.
Over there that Gold/Silver would have at the very least kept their purchasing power and anyone who had done that would now be, relative to their peers, much wealthier?
Silver in modern times is actually far more useful and consumed more compared to previous times when it was simply money/decorative/some basic uses, so it should be even more valuable to us now.
Even governments and central bankers aren't 100% confident in their currencies else they'd get rid of all their Gold, so if you have a modest amount I'd keep it and if you haven't got any I'd advise buying some and just passing it on down.
Silver even if nothing comes of it monetarily is a useful metal in medicine and electronics, and those two things will continue to be in high demand in the future, so at it's worst it'll trend upwards as time goes by and do better than any plain currency.
Some would argue this would have already happened if people weren't so completely comfortable 'owning' things on paper/electronically. The accepted position is that all the paper claims on silver can't be delivered, so plenty of people make the decision to own some Gold/silver but do it via an ETF so whilst they own it in principle they could never all practically get theirs hands on it!? It's like a fractional reserve system on a physical thing?
At any other time in history that wouldn't have been tolerated but it's now common place, in fact it's gone so far that you are the (literal) odd one out if you hold physical stuff over paper/electronic 'ownership'.
In the past even before any commerical uses for Silver it was used time and time again for money. Phoenicians in BC times, the Romans early AD, the US until the 60's 70's!
Then you look at history and when this was abused (Romans reducing the silver content, inflations of Germany 1920's Argentian 1970's etc) the US detaching from a metal backing and printing more and more currency would suggest an unhappy ending of some sort.
It's all about time(ing), looking at history it all looks inevitable, but inevitable doesn't mean imminent! it potentially occurs over decades/lifetimes. When it was happening no one thought they were being hoodwinked, perhaps we are in the midst of similar now?
Plenty of countries across the globe right now are, and have been for a few years, suffering from their currency letting them down and would have been better off owning something (anything) tangible over the currency. Egyptians have suffered a 50% loss in their currency value in just the last 3 years, so an equivalent £50K premium bond account there in 3 years buys you 50% less stuff which is then going to make you nervous of what the next 3 years holds! Inflations/currency devaluation can quickly become a spiral down.
Over there that Gold/Silver would have at the very least kept their purchasing power and anyone who had done that would now be, relative to their peers, much wealthier?
Silver in modern times is actually far more useful and consumed more compared to previous times when it was simply money/decorative/some basic uses, so it should be even more valuable to us now.
Even governments and central bankers aren't 100% confident in their currencies else they'd get rid of all their Gold, so if you have a modest amount I'd keep it and if you haven't got any I'd advise buying some and just passing it on down.
Silver even if nothing comes of it monetarily is a useful metal in medicine and electronics, and those two things will continue to be in high demand in the future, so at it's worst it'll trend upwards as time goes by and do better than any plain currency.
Edited by Scootersp on Friday 26th May 12:43
When I was Googling around yesterday I noticed Royal Mint have some kind of “digital silver” product now.
Looking again, gold too.
I’m baffled at the logic.
The whole point and appeal is holding it.
I get why some very wealthy people might not have it at home, but this is clearly targeted at small holders.
Looking again, gold too.
I’m baffled at the logic.
The whole point and appeal is holding it.
I get why some very wealthy people might not have it at home, but this is clearly targeted at small holders.
You'd think so wouldn't you, but it just shows how we now prefer or (tin foil hat) we've been coerced to prefer digital/paper versions of assets?
This was from 2008 reporting not much selling of Gold given economic circumstances (look at the Gold chart post 2008)
https://www.reuters.com/article/us-gold-banks/cent...
2022 largest gold buying by central banks ever?
https://www.reuters.com/markets/commodities/centra...
Could we get a similar rise, may be may be not, but it doesn't feel like the time to sell, if you got this far hang on in there?
This was from 2008 reporting not much selling of Gold given economic circumstances (look at the Gold chart post 2008)
https://www.reuters.com/article/us-gold-banks/cent...
2022 largest gold buying by central banks ever?
https://www.reuters.com/markets/commodities/centra...
Could we get a similar rise, may be may be not, but it doesn't feel like the time to sell, if you got this far hang on in there?
Mr Whippy said:
When I was Googling around yesterday I noticed Royal Mint have some kind of “digital silver” product now.
Looking again, gold too.
I’m baffled at the logic.
The whole point and appeal is holding it.
I get why some very wealthy people might not have it at home, but this is clearly targeted at small holders.
But do you have to hold it.Looking again, gold too.
I’m baffled at the logic.
The whole point and appeal is holding it.
I get why some very wealthy people might not have it at home, but this is clearly targeted at small holders.
If companies actually buy and store physical for you isn't this a service worth having depending on the fees involved.
Even if we do get a complete currency collapse then you would need to wait for the dust to settle and a new system rise from the ashes. Then everything would get repriced in the new currency and at this time you could cash in these digital products for the new currency assuming you don't want to keep holding. Also assuming the Royal Mint would still exist and the government had not have seized their stuff.
But if the same old currencies just keep ticking along then you can cash in whenever.
So I guess the question is do we trust these companies to make good on their promise to buy and hold physical for us so that if the absolute worst case scenario plays out then we can still get settled eventually in whatever new system replaces the old.
Or do we want to prepare for a complete breakdown where we will be exchanging physical metal for food and water?
ATM said:
Mr Whippy said:
When I was Googling around yesterday I noticed Royal Mint have some kind of “digital silver” product now.
Looking again, gold too.
I’m baffled at the logic.
The whole point and appeal is holding it.
I get why some very wealthy people might not have it at home, but this is clearly targeted at small holders.
But do you have to hold it.Looking again, gold too.
I’m baffled at the logic.
The whole point and appeal is holding it.
I get why some very wealthy people might not have it at home, but this is clearly targeted at small holders.
If companies actually buy and store physical for you isn't this a service worth having depending on the fees involved.
Even if we do get a complete currency collapse then you would need to wait for the dust to settle and a new system rise from the ashes. Then everything would get repriced in the new currency and at this time you could cash in these digital products for the new currency assuming you don't want to keep holding. Also assuming the Royal Mint would still exist and the government had not have seized their stuff.
But if the same old currencies just keep ticking along then you can cash in whenever.
So I guess the question is do we trust these companies to make good on their promise to buy and hold physical for us so that if the absolute worst case scenario plays out then we can still get settled eventually in whatever new system replaces the old.
Or do we want to prepare for a complete breakdown where we will be exchanging physical metal for food and water?
r3g said:
I think RSTPs regular postings about the blatant fraud going on with the comex re physical holdings vs paper is sufficient warning to anyone to steer well clear of any entity that promises to deliver physical for paper should the SHTF. As you rightly say : "The whole point and appeal is holding it." If you can't do that they you may as well just keep the cash in your Santander Current account as the outcome would likely be the same in a major SHTF event.
I'd like to think a none binary world existed whereby there were severities of SHTF whereby these companies could still offer a service which had value. So what's happening now gents, have the US done a deal to raise their debt ceiling?
I heard something about UK inflation ticking up a lot. And something I didn't know which is that during Covid the BofE started paying the government directly to keep it ticking along. Is that right?
Also the Gilts are almost back to the level where everything went nuclear. And I can only presume they will continue to rise from here.
I heard something about UK inflation ticking up a lot. And something I didn't know which is that during Covid the BofE started paying the government directly to keep it ticking along. Is that right?
Also the Gilts are almost back to the level where everything went nuclear. And I can only presume they will continue to rise from here.
We definitely don't want serious societal breakdown!
The direct trading with metals in shops is never going to happen, but the currencies being devalued is happening and where it happens most you have the most chance of societal problems, as you get people doing nothing less than they used to, ie working as hard as ever recieving the same pension as ever, but what they earn/get buys them far less.
Whether through their government, natural disasters, geo politics or a combination they can find themselves (a lot) poorer, and more so if they had assets largely in their own currency, and lets face it most of us do and have little choice but to.
If you look to these countries then often the USD is preferred as it provides stability, Egyptians, Sri Lankans and Lebonese in the last few years would have increased their relative (to their compatriots) wealth if they'd had dollars or Gold savings over their own currency.
The debt ceiling has to be increased eachtime, I think it has been agreed, but (I need to check) presumably they set the next limit, which will be interesting to see, they will get there again afterall, it's just how long it might be to get there again?
Dollars (for these countries) Gold, even Bitcoin are all essentially attempts at hedges against the fall in value of your currency, high inflation will devalue your currency.
The storage aspect is interesting, the more you distrust the system/currency then the more you think holding personally or close at least makes sense. After all we do have our benign(?) UK still refusing to give Venezuela their Gold back, so leaving it wth a custodian hasn't worked so well for them or their people?
If you read the story it's an interest blend of politics and power struggles, between them us and the US, but what's for certain is you couldn't make it a power/political football if someone didn't think the stuff was of high value. I mean we are talking about £2Billion here, about half the cost of a Vanguard Sub, approx one week of the NHS budget etc.........seems a piffling amount to battle over?
https://declassifieduk.org/uk-spent-public-funds-b...
The direct trading with metals in shops is never going to happen, but the currencies being devalued is happening and where it happens most you have the most chance of societal problems, as you get people doing nothing less than they used to, ie working as hard as ever recieving the same pension as ever, but what they earn/get buys them far less.
Whether through their government, natural disasters, geo politics or a combination they can find themselves (a lot) poorer, and more so if they had assets largely in their own currency, and lets face it most of us do and have little choice but to.
If you look to these countries then often the USD is preferred as it provides stability, Egyptians, Sri Lankans and Lebonese in the last few years would have increased their relative (to their compatriots) wealth if they'd had dollars or Gold savings over their own currency.
The debt ceiling has to be increased eachtime, I think it has been agreed, but (I need to check) presumably they set the next limit, which will be interesting to see, they will get there again afterall, it's just how long it might be to get there again?
Dollars (for these countries) Gold, even Bitcoin are all essentially attempts at hedges against the fall in value of your currency, high inflation will devalue your currency.
The storage aspect is interesting, the more you distrust the system/currency then the more you think holding personally or close at least makes sense. After all we do have our benign(?) UK still refusing to give Venezuela their Gold back, so leaving it wth a custodian hasn't worked so well for them or their people?
If you read the story it's an interest blend of politics and power struggles, between them us and the US, but what's for certain is you couldn't make it a power/political football if someone didn't think the stuff was of high value. I mean we are talking about £2Billion here, about half the cost of a Vanguard Sub, approx one week of the NHS budget etc.........seems a piffling amount to battle over?
https://declassifieduk.org/uk-spent-public-funds-b...
remedy said:
Gold is taking a bit of a hammering over the last couple of days. Though it's been sliding all month. What gives?
Inflation is starting to fall a bit (so less demand for gold as a hedge against it) and interest rates are high enough you can get a tolerable return on cash?xeny said:
remedy said:
Gold is taking a bit of a hammering over the last couple of days. Though it's been sliding all month. What gives?
Inflation is starting to fall a bit (so less demand for gold as a hedge against it) and interest rates are high enough you can get a tolerable return on cash?xeny said:
remedy said:
Gold is taking a bit of a hammering over the last couple of days. Though it's been sliding all month. What gives?
Inflation is starting to fall a bit (so less demand for gold as a hedge against it) and interest rates are high enough you can get a tolerable return on cash?Gassing Station | Finance | Top of Page | What's New | My Stuff