Belfast

They do a bank transfer which you can do through internet banking. You can make your purchase and then pay. They give you at least a week. kilo bars look reasonable to me at £300 each. ( they about £320 now but below £300 recently)

 

You need to be selling on ebay or privately or you will have to loose the VAT + dealer margin before you get a profit. Gold Money is a good alternative, apparently..

I've purchased gold from them before via wire transfer and I will not be making anymore PM purchases via wire transfer.

I felt like a terrorist the way my bank was interrogating me with the amount of questions they wanted to know about the transfer, absolute disgrace considering it was MY MONEY.

Direct debit or cheque from now on for PM purchases.

They will also accept a cheque from you if you ask politely enough.

 

I had to do this while my bank sent me one of their secureid type contraptions.

Thanks mate, think I'll send them an email about that

This is what I'm doing. I can't be sure that the final bottom is in, so I'm averaging in.

 

About BoE cut, I don't know. A cut should weaken the pound, but maybe the market has priced it in to some extent already?

Thanks for the reply Wren.

Do CoinsInvestDirect still have the best price for Silver? I wish they accepted direct debit

The Silver chart indicates that Silver has dropped quite a bit recently, I've read it's a good idea to buy in the lows.

I'm looking to buy some silver, would it be a good idea to place an order tonight before the BOE expected rate cut?

Unfortunately you cant avoid the 17.5% vat on Silver. Coininvest is the cheapest on the web for silver. The Silver Philharmonic 1oz. 2008 look to be a good buy, they where about £10.82 earlier this evening. They sell on ebay at £14+ all day long.

 

Just remember that the gold and silver market is very volitial. The market can go up as well as down and if you are buying now, its when the market is at front and centre of a lot of peoples minds. Its not a get rich quick scheme. Saying this you are buying the ulitimate insurance policy, the one and only policy that has a 4000 year track record.

 

Make sure you do all your own research and make your own decissions. Only spend money that you feel comfortable with. You can always spend more later on. Good Luck

Thanks mate, I've learnt an incredible amount over the past few days on this forum. Wish I had of joined this forum some time ago!

Gold coin is in short supply at the moment and bar is getting that way, this is resulting in positive margin on the purchase, so above spot price for a dealer to buy from you. The normal margin would be -4% to -8% so below spot for gold. The same is happening for silver. This could go anywhere from here, up, down, sideways. I would really not like to second guess which way these margins are going to go next.

 

As to ratio between gold and silver then my advice would be to read Steve's thread

Cheers ID5!

I'm a complete novice when it comes to Gold & Silver and I've learnt so much over the past few days. My gut is telling me that fear is starting to grow really fast now and as time goes by more of the public will be want gold and silver as an insurance against TSHTF scenarios.

I read Steves thread, excellent thread just like your thread.

Think I'll go with 30% Silver 70% Gold

Any advice on a good place to buy Silver at the moment? I was looking at coininvestdirect.com but I don't fancy the 17.5% VAT charge they have on silver

Thanks for the lengthy reply Steve!

To be honest a few weeks ago I thought 20% would be a lot in PMs but now 50% looks like a better idea (Perhaps along with a big stock pile of food and any other essentials/bartering goods like cigarettes etc

That may be a good idea about paying tax early, I'll look into that one for sure!

I think like always, it boils down to DYOR and come to your own conclusions. Always nice to hear from those who are better informed than a newbie like myself on these issues so thanks.

This thread has been awesome, thanks so much Steve!

I have a question that hasn't been asked. For those that are self employed what kind of measures can be taken for insurance in the event of a bank collapse?

My understanding is that if your bank was to collapse you still owe the taxman his money (this worries me) So I'm just wondering if it would be a good idea to buy more than your recommended 10% in PMs to cover tax liabilities

id5 just wanted to say thank you for creating this thread, I've learned a lot

Is there a rough figure for the margin on Silver and Gold that are paid for coins/bars at the moment?

What would be a good Silver/Gold ratio to have