Open question - Financial
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I doubt copper will ever be worth very much per kg....did I mention that I have two big copper boilers that have been cut into sheets ? I intend to make garden ornaments with them
Well, I did
But in terms of a percentage increase over the next two years I think it might even give silver a run for its money (no pun intended).
There is very much a market for scrap copper. People break into houses to rip the piping and cabling out of them when left empty for too long. Others people, or maybe the same ones, steal signalling cables from alongside railway lines, or steal power cables.
Cable theft - Network Rail
Cable theft costs us millions of pounds each year, not to mention the total cost to the economy . Find out what we are doing to beat thieves.
www.networkrail.co.uk
South Yorkshire train passengers face delays after theft of signalling cables
Rail services between Sheffield and Doncaster affected on New Year’s Eve after incident at Conisbrough
www.theguardian.com
I was thinking more about the global market. There are many people in third world countries who are not yet connected upto an electric grid. But over the next few years this is looking likely to change for a couple of billion people. This process is going to require countless thousands of miles of thick copper cabling.
Also we are in the early stages of a commodities bull market cycle. The other metals are doing well so far but copper is lagging behind a bit. I think it might catch up.
Better to get the relatives to pick over and choose their silver before you pass on. Probate and CGT/IHT can make it difficult to do so later.
I think there might be some way you can gift it to them in writing and keep it "in safe storage" for them. But if you do, it has to be kept seperate from non-gifted and labelled - on a box say with a list inside of who owns what, and/or those little string labels per item..
I think there might be some way you can gift it to them in writing and keep it "in safe storage" for them. But if you do, it has to be kept seperate from non-gifted and labelled - on a box say with a list inside of who owns what, and/or those little string labels per item..
When you do probate, the government will know about everything you (as executor) declare that the person had. It's very important you declare it, otherwise they won't even know it's a taxable asset that exists.
In theory yes, and strong penalities for executors who fiddle it. If not declared, it all falls apart if an "entitled" beneficiary disputes stuff,( legally or on FB), or informs HMRC. This happens more often than you might think, family members fall out over the smallest of things. Executors can also cause problems.
My mother in law gave everyone a copy of her will years in advance to prevent rows, didn't work. My own mother made verbal gifts of specific items for when she died - but the executor, knowing this, decided not to. Legally they can do this. Even written instructions, say about funerals, gifts etc can be ignored unless part of the will. Gifts made legally before death though, cannot be recovered or normally challenged. (HMRC excepted)
My MIL's silver teaset is a taxable asset ? my GG Grandpa's silver mounted china biscuit barrel ? the cutlery ? my charm bracelet ?
Probate ? ..... as far as I know the lawyer agrees the house is worth so much, whatever is in banks, shares, etc. and tots that up. It's split between our sons, and the taxman will be paid if it's necessary, but the rest just gets spread out as they clear the house.
Honestly the only falling out would be because one of them ended up stuck with the biscuit barrel
I wonder if a museum would want it ? there's a Dandy Dinmont society, isn't there ? They can have it back
Two charms today; £35.
This is getting ridiculous.
(Maybe I should get a job...)
This is getting ridiculous.
(Maybe I should get a job...)
If it not too rude of me to ask. Would mind you sharing a photo of your charms?
Not for any particular reason, I'm just nosey and find that kind of thing interesting.
Yes, everything, especially personal jewelry, which of course can add up to a serious value. Including wedding and engagement rings, which if they are doing an audit, they will look for on the probate list. If missing, they can use it as an indicator/pressure point for further questions/discovery.
One of my ex's friends father is an Asian diamond dealer - don't want to think about what her wedding jewelry is worth!
She's a lovely person but had been raised by servants who taught her nothing about households. We realised belatedly, and explained about warming the baby food and showed her how to use a microwave. Poor baby, 3 months of eating cold food from the jar!.
I agree, and have been saying the same thing. Have been thinking about stacking some copper bars.
A few pallets of plumbers copper pipes in commonly used diameters might be worth consideration if you have the space to store them for a couple of years. I wonder what the most tax efficient options would be for this trade?
Pah! pah! silver ? copper? you two are blowing smoke. Lead is the way forward.
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