azazel

Is that a gold sovereign on the tip of his finger? ET a closet gold bug

If you allow a government to stamp "£100" on a gram of gold then you allow it to stamp "£200" on a gram of gold. If the gold has "1g" stamped on it then we all know where we are.

 

 

Edit: I'm forgetting that £ originally meant lb and is merely a fancy L with a line through it. If grams become the new currency and the people are not educated about the history of currency then they will see a fancy G with a line through it on their bank statements in the centuries to come!

Im sure the freemasons would approve, they like Gs

This is a major misunderstanding, because they have to work hard and need technological resources, human resources and energy resources to get this stuff out of the ground.

 

Gold is not digitally created on a computer.

Thats the great thing I like about gold as money,the fact that hard work is required to start with, and then its a medium of exchange for other peoples hard work. Exchanging hard work for crap that flies off the printing press is a scam, imo.

The GBP price is looking better though. Approaching £20,000 again.

Surely it would just be electronic fractions of grams. Like, er, GM or BV. Every bank would be like that. The price of gold and silver would maybe be set and fixed and all money merely represents your electronic pile. You would never be able to get at your gold or silver 'to stop economic financial disasters' but you could add to your pile in the bank with junk currency chips/paper. This would force us all to use/transact in junk chips and paper like today whilst having it 'insured' by electronic gold.

Gold and silver in themselves will be banned. I can't think of another way really.

 

Salaries could be advertised in gold grams, but you only get more monopoly money to spend! Basically like today but the fiat in your pocket will be matched by electronic gold instead of nothing but confidence, like it is now.

 

I'm sure this would still make the value of g and s soar, but it being illegal to trade it you have to turn in your gold for land, monopoly money (lots of) or electronic gold down at the bank.

 

I see something like this anyway. Anyone else got any ideas?

I would like to see gold and silver in the money. For example, the £50 note could have a ribbon of gold or scrap the notes and go back to just coins where a £100 coin could have a few grams of gold alloyed with copper. Smaller denominations could be a silver alloy. I disagree with those that say there is not enough PMs in the world to use as money as it can be alloyed with base metals. Digital money could work like Goldmoney. So if I had £100 in the bank that would be secured to 2 grams of gold in a central bank vault that has responsibility for the accounting. If you still dont think theres enough gold then make it 0.2 grams = £100. It will never happen though.

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An excellent point, thank you.

Okey-dokey, I've done my research and are going with CID as they seem much the cheapest. I've seen people on here approve of them. Correct?

 

Interestingly, CID Sovereigns are cheaper per unit gold weight than Britannias which is unusual and attractive given their divisibility and CGT free-ness.

 

How do sovereigns (Elizabeths) generally come packaged? Can you source capsules anywhere?

I had some Elizabeths from them. If I remmember correctly, they were wraped in a zip bag and taped up. I think that sovereigns are the best. I should have just had sovereigns. They are CGT exempt most importantly, a more conveinient size that an ounce, and are more trusted than pandas for example. They have a low premium too.

CID are reliable, I had no problems and I have not heard anyone else complain.

These guys sell coin capsules. http://www.coingallery.co.uk/coin-capsules-2-c.asp

It would be interesting to argue that CGT didn't apply as it was the currency that had devalued, not your assets that had increased...

I wonder if zimbabweh has cgt.

Buy an egg for $10,000 sell it a few days later for $100,000. CGT on $90,000 after your first $10,000 allowance = $20,000. More than the egg cost a few days ago.

I think True North can do my tax accounting! "ya, well I will tell them where to collect their cgt. . ."

Anyone else find that BV charts are borked?

Edit: Looks like they fixed it.

CID may ba a few quid cheaper, but if you want to buy sovereigns and britannias, for example, goldline has a much better choice. Also you are buying from a long established U.K. dealer, which is the country's biggest refiner of PM's, you can store gold with them, as well as being able buy and sell in person, which you can not do with CID.

 

IMO the advantages of having an established buying/trading relationship with Baird & Co and supporting a U.K. company outweighs CID's slightly lower prices.

 

Also I would highly recommended you have a listen to the Commodity Watch Radio podcast, which Tony Baird is interviewed by Dominic Frisby. It will give you an indication of Tony Baird's knowledge of the gold and silver market and his high standards of integrity.

 

http://www.minesite.com/webcasts/commodity_watch_radio.html

 

The podcast is entitled - A Healthy Dose Of Reality? Tony Baird Of Baird And Co - 19th November 2008

 

Which is also currently number 24 on the list in pod bean window on the above web page.

Im sure Bairds are a great PM company. Their free forecasts are great BTW. The website is awful though, a messy layout. CID have a great website and online ordering is a easy, as is payment if you do it online. They ought to pull their finger out and get images of all the products on the website, as I have been put off buying things as I dont know what they look like. Bairds are slightly cheaper on some things. They also have various platinum and paladium items.

Hello swampy, nice to see you again.

I spoke with Bullion Vault today about silver. The latest is this:

az:

Hi. It would be good if the charts show 10 years. Please forward it as a suggestion.

Jaroslaw Pietrzak:

Hello,

Jaroslaw Pietrzak:

Thank you for your suggestion.

az:

any news on the BV silver launch?

Jaroslaw Pietrzak:

There is 5 years and 20 years but I will say this too to the IT dept.

Jaroslaw Pietrzak:

Everything is ready, we are still awaiting an authorization from the tax office.

az:

Yeah I know. 20 years covers 10 years when gold did nothing

Jaroslaw Pietrzak:

HM Revenues & Customs has to confirm that our silver won't be charged VAT.

Jaroslaw Pietrzak:

And we still didn't get this paper.

az:

Are they a bit slow?

Jaroslaw Pietrzak:

Yes, they are.

az:

Are you sure they will not chaarge VAT? They need every penny!

Jaroslaw Pietrzak:

We expected it much faster but apparently there is a controversy in this subject.

Jaroslaw Pietrzak:

Well, we and the LBMA (we are the member) say that there shouldn't be any VAT as it is only as an investment.

Jaroslaw Pietrzak:

But some of them say different.

Jaroslaw Pietrzak:

Because silver is not purely investment metal like gold. It is mostly industrial.

Jaroslaw Pietrzak:

I mean much more industrial than gold.

az:

Ah, I see. I would not buy it if there was a 15% loss to start with. If the silver is not delivered.

Jaroslaw Pietrzak:

So, we are still waiting...

Jaroslaw Pietrzak:

We are quite sure there won't be any VAT, but we need to get their paper.

az:

Yeah, so they say. If they charge VAT then no one will buy it and so they will get nothing anyway!

Jaroslaw Pietrzak:

Haha! Yes!

Jaroslaw Pietrzak:

You are right

az:

At least they might get some CGT

az:

OK thanks for the update. Happy days gold btw

Jaroslaw Pietrzak:

Jaroslaw Pietrzak:

You are welcome.

az:

Say hi to Paul from Az

az:

BB for now

Jaroslaw Pietrzak:

OK, once his back from Asia

Jaroslaw Pietrzak:

Bye for now.

az:

bb

You have done well to buy your PMs when you did GOM. Nice bit of timing, you must be up already.

Countdown round one - the letters game.

Anyone else score 6 ?

 

Erm, I can do 8 Bob. "Two wreck"

All silver kilo coins are now spoken for. Thanks.

LOL. RealistBear thinks that gold is going to sub $300. What an idiot. The biggest financial cockup ever and he thinks that gold is going back to an even lower low (inflation adjusted) than Browns bottom. I dont know why he has such a problem about gold. He says he bought gold in the 70s and got out at $800, so he must have done well on it then.

Beginning to doubt whether this is just a dead cat bounce, maybe we have underestimated the British obsession with property. Could the property cat have ten lives?

 

Spoke to a friend who is a small time property developer/landlord in Wimbledon, and he says property around there is selling at an all time high, higher than 2007/8 and very quickly.

 

He reckons anyone who had the guts to buy last winter would have made 15 to 20% in a matter of just a few months

 

Where the hell are people getting all this money from? house in SW19 are not cheap. A small terrace will set you back £600k

I cant see it lasting. The reasons for the bubble that poped in 2007 are no longer there. Income is falling, banks offering BTL loans are dead. Investment banks are gone. House prices either fall or the value of money falls due to QE as the property market gets proped up.

I have 10 x Australian 1 Kilo Koala 2008 coins for sale. They are my mates, Im not selling any of my silver! Someone has indicated they will buy two and I might have one. They are all in the plastic case. He wants £400 each for them + postage. They are selling for £442 + postage on CID so represent good value. I need payment by cheque, with the name left blank, or cash. I dont want the money going through my bank as Im self employed and dont want to have to explain to the tax man. Im doing my mate a favour (& fellow GEIers) trying to sell it for him as he has no ebay account. The name on the cheque needs to left blank as he just been made bankrupt and wouldn't want his creditors to know. A bit like america secretly selling their fort knox stash

Is the ratio good at the moment to sell some of my gold and buy some of his silver?

Im probably going to Sussex within a week so I could do the deal there or on route.

Roughly where abouts are you - for pick up. Just considering...

Devon, near Tiverton which is close to the M5. Collection and cash payment would be ideal.

I have 10 x Australian 1 Kilo Koala 2008 coins for sale. They are my mates, Im not selling any of my silver! Someone has indicated they will buy two and I might have one. They are all in the plastic case. He wants £400 each for them + postage. They are selling for £442 + postage on CID so represent good value.

Here's Ed Steer's comment on it, from his gold & silver daily

 

Also there is a Ted Butler doing his "Butler on Gold & Silver" audio with Eric King.

 

"and if it doesn't scare you half to death, it's obvious that you don't understand the problem."

I do not understand the problem. Does that suggest that the price of gold will plummet or that the bullion banks will get caught with thier pants down?

I was looking at the Telegraph and noticed that in the finance, most viewed section, the "Is silver the new gold" article is 3rd most viewed. http://www.telegraph.co.uk/finance/ Interesting thing is that the article was written in april. Clearly an increase in interest.

Look who's back! Gold just hit $1,011.70.

Hey, its just a number like any other. :P

Sounds like it would be best to sell your scrap to id5 rather than the hassel of burning your lungs etc.

Can't believe you didn't say Gold AND Silver!

 

Oh stop it. You know silver is included in reference to gold. You are like Stan in The Life of Brian about women.

A particularly nice September afternoon, cold cider, lime washing the cob walls in Devon. Life is good. Gold and SILVER doing better. Will gold close bove $1000 and silver close above $17?

Hi all, I have recently cleared out the garden shed and quite fancy the idea of setting up a mini silver refining "shed project".

 

http://www.goarticles.com/cgi-bin/showa.cgi?C=732873

 

I have loads of scrap silver and thought it may be interesting to have a go at making my own bars. The wife thinks I'm mad, but has anyone else tried refining silver.

 

Graphite molds in a variety of sizes are cheap enough to buy and although the process of refining appears quite complicated, I could have multiple stages of the process on the go at the same time.

 

Thought it could be a interesting hobby-type project, obviously, with due dilligence to health and safety aspects.

 

Am I mad?

Most are slightly mad, I know I am.

Interesting instructions on refining silver using acids. Do you think that an ordinary blow torch is hot enough to melt silver? Say you have loads of circuit boards with silver on them, does the Nitric acid only affect the silver?