Open question - Financial

[Dan00001]

I too would hold off unless I needed the money or it was taking up needed space etc. I also agree that we're at the start of a commodities supercyle, although I've been saying that for the past 5 years or so

 

[Dan00001]

Silver bullion coins that are made by the Royal Mint (such as Britannia's) are CGT free and you only need to pay VAT on new silver. Second hand silver does not have VAT added.



I agree. Can't go wrong with gold. It has a much larger market cap so doesn't suffer from the large volatility swings like silver. Silvers big moves (both up and down) aren't for the fainthearted. Gold just slowly but steadily gains over time as fiat currencies are devalued through constant inflation.

Regarding VAT on s/h silver. There is VAT, but only on the profit the broker makes, and only when the broker is a part of the margin scheme. Just saying so people are aware if buying s/h silver to look for brokers that are on the scheme.

 

[Stew]

It's up to you but in my opinion copper is likely to do very well over the next few years. Personally I'm holding onto my physical copper for at while. At least two or three years, probably more. I think the copper price rise will out-pace inflation for quite some time yet.

We're at the start of a commodities bull market. I expect the majority of commodities, such as copper, to do well over the next few years.

I'll probably wait a little while but I could do with the space!

Just did a rough weigh up - 25kg of bare bright, 15 of insulated, 4 of dirty pipe, 6 of clean pipe. There's about ten lead acid batteries to go too. Always a bit more to add to the pile though....

 

[HorseGuy]

I'll probably wait a little while but I could do with the space!

Just did a rough weigh up - 25kg of bare bright, 15 of insulated, 4 of dirty pipe, 6 of clean pipe. There's about ten lead acid batteries to go too. Always a bit more to add to the pile though....

That's the main problem with copper as an investment prospect. It's not value dense like gold and silver so it takes up so much damn space.

 

[Stew]

That's the main problem with copper is an investment prospect. It's not value dense like gold and silver so it takes up so much damn space.

The one difference is that this is all the slow accumulation of saved waste over a few years so is basically free money.

 

[demented dale]

I'll probably wait a little while but I could do with the space!

Just did a rough weigh up - 25kg of bare bright, 15 of insulated, 4 of dirty pipe, 6 of clean pipe. There's about ten lead acid batteries to go too. Always a bit more to add to the pile though....

My scrappy told me that weighing batteries is coming to an end. It will be some eco scam where you get fined for not handing them in for nothing. You might wana check that out. I dont know anymore than that. xxx x

 

[HorseGuy]

The number of open silver contracts on COMEX being closed early (that means they will not stand for delivery) has accelerated over the past three days. On the current trajectory if this trend continues then the COMEX will not run out of silver at the end of February as previously forecast.

However the amount of silver available for delivery will continue to be reduced significantly from the current level. This means that the same problem is going to happen again soon. Maybe not in March as that is historically a slow month for contract deliveries so more likely to be April, May or June. No one knows for sure as it will depend on how many people stand for delivery in the coming months and how quickly the mines/refiners can bring new silver to market to replace the old inventory.

Either way global metal exchanges are all still running at extremely low levels and are continuing to get lower every month. So unless something very radical changes in either the supply or demand side of the equation it is still just a matter of when, not if, they run out of silver (or equally likely the price shoots up to such an incredibly high level that demand is reduced to a sustainable level). Tick tock, tick tock...

The video below has a detailed breakdown of the numbers involved if anyone is interested:

 

[demented dale]

The number of open silver contracts on COMEX being closed early (that means they will not stand for delivery) has accelerated over the past three days. On the current trajectory if this trend continues then the COMEX will not run out of silver at the end of February as previously forecast.

However the amount of silver available for delivery will continue to be reduced significantly from the current level. This means that the same problem is going to happen again soon. Maybe not in March as that is historically a slow month for contract deliveries so more likely to be April, May or June. No one knows for sure as it will depend on how many people stand for delivery in the coming months and how quickly the mines/refiners can bring new silver to market to replace the old inventory.

Either way global metal exchanges are all still running at extremely low levels and are continuing to get lower every month. So unless something very radical changes in either the supply or demand side of the equation it is still just a matter of when, not if, they run out of silver (or equally likely the price shoots up to such an incredibly high level that demand is reduced to a sustainable level). Tick tock, tick tock...

The video below has a detailed breakdown of the numbers involved if anyone is interested:

There will be a seizure and it will be harder to trade. For many it was always just a way of preserving wealth until a good time to bail out and buy useful things. That time could be soon. Now I would rather have tools, meds and food than metal. DD xxx

 

[HorseGuy]

There will be a seizure and it will be harder to trade. For many it was always just a way of preserving wealth until a good time to bail out and buy useful things. That time could be soon. Now I would rather have tools, meds and food than metal. DD xxx

I would rather have both.

But given the choice between having either useful 'stuff' or metal I would prefer stuff every time.

 

[TeeDee]

The number of open silver contracts on COMEX being closed early (that means they will not stand for delivery) has accelerated over the past three days. On the current trajectory if this trend continues then the COMEX will not run out of silver at the end of February as previously forecast.

However the amount of silver available for delivery will continue to be reduced significantly from the current level. This means that the same problem is going to happen again soon. Maybe not in March as that is historically a slow month for contract deliveries so more likely to be April, May or June. No one knows for sure as it will depend on how many people stand for delivery in the coming months and how quickly the mines/refiners can bring new silver to market to replace the old inventory.

Either way global metal exchanges are all still running at extremely low levels and are continuing to get lower every month. So unless something very radical changes in either the supply or demand side of the equation it is still just a matter of when, not if, they run out of silver (or equally likely the price shoots up to such an incredibly high level that demand is reduced to a sustainable level). Tick tock, tick tock...

The video below has a detailed breakdown of the numbers involved if anyone is interested:

He looks familiar.

 

[Tengu]

The big trouble with money, I find, is that you have to have it to gain more.

Dad has his savings in the bank, does nothing with them.

If I had that money I would invest it, maybe have a bit of fun too.

 

[Falstaff]

The fear of losing it by effectively betting on the stock market (3-legged donkeys) or otherwise prevents doing it. There's no fun if its savings you cannot afford to lose.

 

[TeeDee]

The big trouble with money, I find, is that you have to have it to gain more.

Dad has his savings in the bank, does nothing with them.

If I had that money I would invest it, maybe have a bit of fun too.

If money ( savings ) are not made by the owner to be active and put to work it will indeed become lazy and inefficient. Not maximising its potential.

The person that has the most self interest in savings increasing should be the person whom owns them and is prepared to invest some time in looking how to make it active.

Sitting on ones laurels just tends to end up with laurels becoming flat and smelling a bit.

 

[Tengu]

Id like to see him have fun with it, to be frank.

It will just sit there doing nothing and go to some corrupt charity when he goes.

 

[TeeDee]

Id like to see him have fun with it, to be frank.

It will just sit there doing nothing and go to some corrupt charity when he goes.

Maybe he is saving it to leave to a single close family member.

 

[Keith_Beef]

The fear of losing it by effectively betting on the stock market (3-legged donkeys) or otherwise prevents doing it. There's no fun if its savings you cannot afford to lose.

A lesson that my dad's oldest friend, who would spend every Saturday afternoon between the betting shop and the pub across the road, gave me: only play with money that you can afford to lose.

 

[slowworm]

The fear of losing it by effectively betting on the stock market (3-legged donkeys) or otherwise prevents doing it. There's no fun if its savings you cannot afford to lose.

I'm starting to look at this from the other way around. I'm getting to the age where I can gain access to my private pension savings. With the current uncertainty around the tax free lump sum and seeing how ill my mother is getting late in life I'm starting to wonder if I should cash some of my pots in to lock in the gains and to use the money to good effect whilst I'm able to.

 

[Tengu]

Late wife died fortnight before her 60th.

(Sorry to be so morbid).

TeeDee, I wish you were right.

Everyone here knows how much I love and adore Dad.

Except for one thing.

 

[demented dale]

I'm starting to look at this from the other way around. I'm getting to the age where I can gain access to my private pension savings. With the current uncertainty around the tax free lump sum and seeing how ill my mother is getting late in life I'm starting to wonder if I should cash some of my pots in to lock in the gains and to use the money to good effect whilst I'm able to.

Yes do it. I am 59 now and spending mine. There's no pockets in shrouds. xxx

 

[Chris]

I'm starting to look at this from the other way around. I'm getting to the age where I can gain access to my private pension savings. With the current uncertainty around the tax free lump sum and seeing how ill my mother is getting late in life I'm starting to wonder if I should cash some of my pots in to lock in the gains and to use the money to good effect whilst I'm able to.

If you end up in care, you'll just be giving all your money to private care providers if you try to just keep it all. My Dad's care was something like £40k per year for fairly standard dementia care (that was one of the cheaper choices as well).

If he'd had no money, the state would've paid it and they get charged less money by private providers due to their negotiating power.