Buying Silver

[LJ20]

Can anyone advise how/where to buy silver metal. (as in gold bullion)?
I am based in the UK and want to buy actual Silver but don't want to be ripped off and want to ensure safe storeage.Cannot find an obvious alternative to post this so apologies if not the correct place.

 

[jonahtrainer]

With the recent rise in price of the metals I have been researching this also. I found this article about how to buy gold extremely helpful. It seems there is a lot of shady characters, like the ETFs, to beware of.

 

[oildaytrader]

Can anyone advise how/where to buy silver metal. (as in gold bullion)?
I am based in the UK and want to buy actual Silver but don't want to be ripped off and want to ensure safe storeage.Cannot find an obvious alternative to post this so apologies if not the correct place.

If the silver you want to buy is for investment and valued below gbp 5,000 ,it is easier to keep it under a home contents policy and at home.If the value is relatively large ,in excess of gbp 10,000 ,find a safe deposit box from your local yellow pages.They will cost you gbp 200 per year for storage and insurance.

Look up cooksons precious metals in London and Birmingam or a company called Baird and co on the internet.These are trade outfits who will supply on cash basis to retail.Unfortunately vat is levied for retail and 15% and non refundable.

The investment value can be eroded by cost of storage and loss of V A T.I do not see a profit potential by investing at these prices, after VAT , storage and dealing costs

 

[poborsky]

http://goldmoney.com/index.html

 

[oildaytrader]

http://goldmoney.com/index.html

I hope you do not end up getting conned with Madoff style metal ponzi schemes.

There are Madoofs waiting to receive you money on ponzi storage and investment schemes.The financial industry is plagued with Madoffs.I am not referring to the above company , but generally beware.

O D T

 

[poborsky]

I hope you do not end up getting conned with Madoff style metal ponzi schemes.

There are Madoofs waiting to receive you money on ponzi storage and investment schemes.The financial industry is plagued with Madoffs.I am not referring to the above company , but generally beware.

O D T

If I hadnt done some research into the subject then I would not have posted the link.

What do you sell by the way?

 

[oildaytrader]

if i hadnt done some research into the subject then i would not have posted the link.

What do you sell by the way?

metals

 

[poborsky]

metals

I hope you do not end up getting conned with Madoff style metal ponzi schemes.

There are Madoofs waiting to receive you money on ponzi storage and investment schemes.The financial industry is plagued with Madoffs.I am not referring to the above company , but generally beware.

Poborsky.

 

[oildaytrader]

If I hadnt done some research into the subject then I would not have posted the link.

Your investment is entirely in their hands ,insurance policy is in their name and you have no recourse against insurers in the event of fraud.

 

[poborsky]

Your investment is entirely in their hands ,insurance policy is in their name and you have no recourse against insurers in the event of fraud.

Why do the words fraud and Madoff keep coming up? Would I be any safer investing with a hedge fund or stuffing the mattress?

 

[oildaytrader]

Why do the words fraud and Madoff keep coming up? Would I be any safer investing with a hedge fund or stuffing the mattress?

Yes , you would be better off keeping it a safe deposit vault with an insurance certificate in your name, and find a safe , safe deposit vault.

Fraud and Madoffs is the type of world we live.Leninism Bolshevism was a grand scheme to enslave people for a few zionist oligarchs,the peasants were enslaved to Siberia.Today we live in a world of financial oligarchs whose sole aim is to own our property ,which they can not ask politely " put your hard earned savings into our little vaults(pockets)"

Our society is about the honest hard working people HANDING THEIR CASH in the hope of receiving back THE ILLUSIVE PENSION , manipulated by financial oligarchs
robbing pension and investment funds through financial engineering.

R I P

 

[poborsky]

Yes , you would be better off keeping it a safe deposit vault with an insurance certificate in your name, and find a safe , safe deposit vault.

Fraud and Madoffs is the type of world we live.Leninism Bolshevism was a grand scheme to enslave people for a few zionist oligarchs,the peasants were enslaved to Siberia.Today we live in a world of financial oligarchs whose sole aim is to own our property ,which they can not ask politely " put your hard earned savings into our little vaults(pockets)"

Our society is about the honest hard working people HANDING THEIR CASH in the hope of receiving back THE ILLUSIVE PENSION , manipulated by financial oligarchs
robbing pension and investment funds through financial engineering.

R I P

You are assuming that the company I mentioned are a fraud in some way, why?

Better off in a bank vault?
Depends on the motive for holding the metal. Its a lot easier to turn into cash or add to the stash with a reputable holding company.

The rest of your post is a little odd but my idea of holding metals is partly about diversification. I recently closed a bank account because I discovered that my funds were not covered under any insurance scheme should this bank fail and this is one of the big UK banks. Safer in a bank vault....

 

[oildaytrader]

You are assuming that the company I mentioned are a fraud in some way, why?

.

I am suggesting people be careful and invest in something they can have control over.There is no evidence of any fraud on the above company .Until recently there was no evidence on the financial industry and their practises .

If any investment is guaranteed by an independent large bank and a separate insurance policy in investor's name, it has less risk of fraud.


O D T

 

[poborsky]

I am suggesting people be careful and invest in something they can have control over.There is no evidence of any fraud on the above company .Until recently there was no evidence on the financial industry and their practises .

If any investment is guaranteed by an independent large bank and a separate insurance policy in investor's name, it has less risk of fraud.


O D T

Financial fraud has been going on since trading began thousands of years ago. Fractional lending and usury were capital offenses once. Pity times have changed.

 

[oildaytrader]

Financial fraud has been going on since trading began thousands of years ago. Fractional lending and usury were capital offenses once. Pity times have changed.

Nowadays the offenders get more money and bailouts from the tax man.

The CDOS was the a 3 trillion dollar fraud by investment bankers,and when lloyds insurance syndicate had losses they had to pay up , each individual should have been made to pay for it personally.

 

[Black Swan]

if you want to/have to buy physical try Chard, I've used them for a few years, even got my wife a diamond ring there a couple of years back, chose diamond (from them) and then had it mounted. Saved approx. 40% (£1,500) on silly retail prices.
BTW whilst on the subject of metals IG have lowered their spread on platinum, 2-3 pips, the spread on high grade copper's still too rich...

http://www.chards.co.uk/

 

[Andrej Germanus]

If you want to buy silver rounds buy ones from a recognized source like Englehard, Johnson & Mathey, etc. If during an economic meltdown you plan to exchange your rounds for goods or services, remember that the person on the other side of the transaction will want some assurance that your silver is genuine.Private Detectives

 

[Wizard Trader]

I recently purchased 50 x 1oz coins from Sarnia Silver, based in Guernsey. All orders below £18 are VAT free. This means that each coin is posted individually. I came home from work to find 50 envelopes on the floor.

Another good Guernsey supplier is silvercoinsbullion.co.uk

Hope this helps.

 

[monkeyz]

I've also been looking into buying silver recently. I'm based in Guernsey so I checked out a few local merchants and found Guernsey Mint to have pretty competitive rates compared to some sites out there. I can vouch for their authenticity and I've no commercial interests with them.

http://www.guernseymint.com/

 

[Wizard Trader]

I've also been looking into buying silver recently. I'm based in Guernsey so I checked out a few local merchants and found Guernsey Mint to have pretty competitive rates compared to some sites out there. I can vouch for their authenticity and I've no commercial interests with them.

http://www.guernseymint.com/

At £13.24, First Majestic Rounds are much more economical than anything directly from the Guernsey Mint.