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MSE refugee

Whats Your Motivation For Owning Precious Metals?

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My motivation is fear of some kind of financial collapse as I am not sure how this will play out.

Politicians can play things down all they want,as the populace are still docile.

The worrisome thing for me is all I see in my local town centre are empty shops and any new

business's seem to charity shops,pawn brokers or payday loan/sell your phone or gold type of

places.

When you see this kind of thing I cannot believe in any kind of recovery things could get messy.

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I can see things are going to go from bad to worse, with inflation and currency devaluation destroying the value of savings in tandem with a nose-diving economy where real incomes will fall, permanently.

So, my first motivation in owning precious metals is not to get financially @ss-f4cked by the powers that be that are presiding over this process, and so avoid going down with this sinking ship that is full of my ignorant country men.

My second motivation after saving myself, is to become relatively much richer just by virtue of owning and holding gold. That way I can invest in the future once the collapse has happened by buying up distressed property with my gold profits and in an act of philanthropic good will, rent it back at reasonable rates (and a decent yield) to my poor fellow country men (who have lost ownership of said houses because they bought into a lie), thus enabling me to pursue my dream of indefinite travel and merry-making, without the need ever to do any serious work for a living ever again.

Thank you politicians and bankers for this once in a lifetime opportunity, bless you.

Edited by General Congreve

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My motivation is fear of some kind of financial collapse as I am not sure how this will play out.

Politicians can play things down all they want,as the populace are still docile.

The worrisome thing for me is all I see in my local town centre are empty shops and any new

business's seem to charity shops,pawn brokers or payday loan/sell your phone or gold type of

places.

When you see this kind of thing I cannot believe in any kind of recovery things could get messy.

Hi there. My original motivation was trying to survive what looked like an imminent financial collapse back in 2007/8. Having benefited from the loss in value of sterling compared to PMs since then that punt seems to have been vindicated in that the buying power of the "money" I had back then has not only been maintained but increased considerably. I hope at some point to be able to exchange my PMs for something of long-term value to myself but for now happy to hold on to them should TSHTF.

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A choice of reason (though I'm pretty small time at the moment)...

Leave a stash for my daughter (she's currently one!).

If it rockets short term I can take a healthy profit.

It's outperforming most other products out there and a darn sight better than what banks can offer as savings / investment.

Owning "wealth" that cannot be tracked or accounted for (ie can never be siezed or taxed).

Safegard against financial meltdown.

It looks & feels nice :D

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The hardest thing for people to get their head around is to stop thinking in nominal terms regarding the £ (I include myself in that way of thinking for many years)

They think that house prices have gone up,but against real money they are going down at an alarming rate when you get this concept its a hallelujah moment.

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The hardest thing for people to get their head around is to stop thinking in nominal terms regarding the £ (I include myself in that way of thinking for many years)

They think that house prices have gone up,but against real money they are going down at an alarming rate when you get this concept its a hallelujah moment.

Out of interest, did you migrate from MSE because they are a bunch of hillbilly's unable to comprehend the value of PM's because they're too busy keeping an eye out for discount vouchers for Boots?

To be fair you've probably come to the wrong place to tout your evil PM views, many here can't seem to join the dots of the bigger picture and love to get the pitch forks out at the first mention of the G word. ;)

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You arent making money, you arent protecting sh1t.

If you are 10% metal and 90% cash then there is no point getting hard over the rise in pm's.

Pm's rise against currency, if the metal goes up then your 90% cash has gone down. No reason to pop any corks.

10% wasnt enough imo. Still isnt but isnt the same bet as it was.

I will sell out for land or when the dow is 1:1

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Out of interest, did you migrate from MSE because they are a bunch of hillbilly's unable to comprehend the value of PM's because they're too busy keeping an eye out for discount vouchers for Boots?

To be fair you've probably come to the wrong place to tout your evil PM views, many here can't seem to join the dots of the bigger picture and love to get the pitch forks out at the first mention of the G word. ;)

Thats correct, they are too hard to deprogram I just don't know how Mr Lewis controls them so easily maybe its the 20% off UGGs or the free Clinique.

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Although my PMs are of the yellow variety, I see that the grey one has increased by 86% over the last 12 months. While catching that particular train would have been great, the main issue I have with that is weight and safe storage. I could never consider trusting my wealth to bits of paper with my name as 'beneficiary' held by others and I don't where I would be able to safely store a sufficient quantity of said metal. So for now Au nearby is what I am most comfortable with.

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You arent making money, you arent protecting sh1t.

If you are 10% metal and 90% cash then there is no point getting hard over the rise in pm's.

Pm's rise against currency, if the metal goes up then your 90% cash has gone down. No reason to pop any corks.

10% wasnt enough imo. Still isnt but isnt the same bet as it was.

I will sell out for land or when the dow is 1:1

Who you talking to RichyC?

I'd have to say it depends on the scale of the currency crash, if it's almost total, 10% PM's would probably still make you a healthy return. A more moderate devaluation requires a higher percentage of insurance.

Personally I have about 70% gold and 6% silver (would be more if not for VAT and stupid dealer spreads), so I'm in pretty deep. How about yourself?

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Although my PMs are of the yellow variety, I see that the grey one has increased by 86% over the last 12 months. While catching that particular train would have been great, the main issue I have with that is weight and safe storage. I could never consider trusting my wealth to bits of paper with my name as 'beneficiary' held by others and I don't where I would be able to safely store a sufficient quantity of said metal. So for now Au nearby is what I am most comfortable with.

VAT and dealer spreads meant I had to wait for a 40% move in silver before breaking even, so only took a small punt relative to gold. Plus it weighs a tonne and a kilo bar is too big to shove up your backside when the Feds rock up. ;)

Bought back in '09 though, so in a reasonable profit now. The main hope is that it goes to $100/Oz+, then it'll be the icing on my lovely big gold 'free money' cake B)

Edited by General Congreve

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VAT and dealer spreads meant I had to wait for a 40% move in silver before breaking even, so only took a small punt relative to gold. Plus it weighs a tonne and a kilo bar is too big to shove up your backside when the Feds rock up. ;)

Bought back in '09 though, so in a reasonable profit now. The main hope is that it goes to $100/Oz+, then it'll be the icing on my lovely big gold 'free money' cake B)

Do you think that I should sell some silver to buy gold as storage is a headache,also is now the time to get rid of any coins with high premiums as I am thinking its better to get as many ounces as possible or should you have a mixture of different coins and bars.

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Who you talking to RichyC?

I'd have to say it depends on the scale of the currency crash, if it's almost total, 10% PM's would probably still make you a healthy return. A more moderate devaluation requires a higher percentage of insurance.

Personally I have about 70% gold and 6% silver (would be more if not for VAT and stupid dealer spreads), so I'm in pretty deep. How about yourself?

Likewise - was 70% net worth in Au at original purchase price, now over 80% (with net increase of around 60% overall in sterling terms). Can't complain, especially given that all bar 5oz is in legal tender so free of CGT :)

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Do you think that I should sell some silver to buy gold as storage is a headache,also is now the time to get rid of any coins with high premiums as I am thinking its better to get as many ounces as possible or should you have a mixture of different coins and bars.

What's your allocation % wise between the two?

Also when you say high premium coins, are you talking about numismatic coins as opposed to bullion grade?

My thinking now is that the best thing to go for is bullion grade coins, as easily traded, easily recognised in the market and therefore nice and liquid. Also while they sell at a slight premium to small bars, the command a slight premium over bars when sold too, so you shouldn't be worse off for buying them at the end of the day. Plus your stash is in handy sized 1oz coins. Depends how much you're buying though, if you're spending loads you might want to look at some bars as well.

Oh yeah, and if you can get them, grab plenty of sovereigns, no CGT when sold (currently). That was something I wasn't aware of when I quickly jumped on board the PM train in a blind panic in the dark meltdown days of late '08, just before TPTB kicked the can down the road with QE.

Edited by General Congreve

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VAT and dealer spreads meant I had to wait for a 40% move in silver before breaking even, so only took a small punt relative to gold. Plus it weighs a tonne and a kilo bar is too big to shove up your backside when the Feds rock up. ;)

Bought back in '09 though, so in a reasonable profit now. The main hope is that it goes to $100/Oz+, then it'll be the icing on my lovely big gold 'free money' cake B)

'09 was a good time to buy. The VAT etc costs make it much harder to make a short term profit with Ag but like many others you chose to play the longer game so credit to you for that. If it goes to $100+ you'll be minted (sorry to use such a *****ish term but it is apposite). Just hope you've got a good reinforced door and/or a big gun (!)

I took a similar bet with my Au purchases. Sovs & brits had (still have?) a much bigger purchase premium than krugs, for example, so it took a while to break even. However, once past that point it's good to know that HMRC have no claim on any profits whatsoever.

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Likewise - was 70% net worth in Au at original purchase price, now over 80% (with net increase of around 60% overall in sterling terms). Can't complain, especially given that all bar 5oz is in legal tender so free of CGT :)

Well done on the CGT front, although when the SHTF I won't be surprised to see CGT levied on sovereigns along with VAT to 'discourage speculation'.

Wish I'd bought more of the little buggers myself. Might have to go all black market when the time comes to sell!

Edited by General Congreve

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Who you talking to RichyC?

I'd have to say it depends on the scale of the currency crash, if it's almost total, 10% PM's would probably still make you a healthy return. A more moderate devaluation requires a higher percentage of insurance.

Personally I have about 70% gold and 6% silver (would be more if not for VAT and stupid dealer spreads), so I'm in pretty deep. How about yourself?

I have about 12kilos of silver and a healthy amount of gold. Most of my money is still cash though.

I have been round and round this. I have my money where my mouth is and am not down on pm's in any way but I do try to temper the one sided bug view.......there is a lot to this.....far more than many bugs have any idea about.

10% isnt a healthy return in a crash, it will hopefully allow you to feed your family ffs.

The reason that these discussions get so screwed up is because even between bulls no one has the same views or timeframes. Even those that understand things cant help but revert to thinking about gains and "healthy returns". It doesnt work like that at all.

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What's your allocation % wise between the two?

Also when you say high premium coins, are you talking about numismatic coins as opposed to bullion grade?

My thinking now is that the best thing to go for is bullion grade coins, as easily traded, easily recognised in the market and therefore nice and liquid. Also while they sell at a slight premium to small bars, the command a slight premium over bars when sold too, so you shouldn't be worse off for buying them at the end of the day. Plus your stash is in handy sized 1oz coins. Depends how much you're buying though, if you're spending loads you might want to look at some bars as well.

I am currently 90% silver 10% gold I have mostly bullion grade coins some of which are 2oz 5oz and 10oz also a proof set of britannias.

Also tomorrow I am picking up a1 kilo bar of sterling silver which was made from old spoons and other scrap silver this has been melted and assayed.

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Do you think that I should sell some silver to buy gold as storage is a headache,also is now the time to get rid of any coins with high premiums as I am thinking its better to get as many ounces as possible or should you have a mixture of different coins and bars.

depends what you paid.

if you are working on spot then i think we are nearing the point when one should be selling silver for gold to trade on the GSR.

if you paid vat and premiums the sit tight, trading the gsr with physical isnt viable.

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I have about 12kilos of silver and a healthy amount of gold. Most of my money is still cash though.

I have been round and round this. I have my money where my mouth is and am not down on pm's in any way but I do try to temper the one sided bug view.......there is a lot to this.....far more than many bugs have any idea about.

10% isnt a healthy return in a crash, it will hopefully allow you to feed your family ffs.

The reason that these discussions get so screwed up is because even between bulls no one has the same views or timeframes. Even those that understand things cant help but revert to thinking about gains and "healthy returns". It doesnt work like that at all.

Think you misunderstood. 10% wasn't the return, I was saying with 10% of your cash assets in pm's, a total currency crash would catapult your small stash more than high enough to compensate for the loss of the 90% cash. So 10% is insurance for total carnage. I'm not sure we'll get that, but we'll certainly see sterling, the euro and the dollar get a sound kicking at least. If the kicking is only moderate 10% in metals will only be a cushion, you'll need a higher percentage of your cash assets in PM's to offset your cash losses.

As for how it works out, I have to agree that while the way things are going might look good for gold, the result of their rise (or rather fiat's fall from grace) could be very bad for this world (I'm thinking global war) and therefore being minted might not be all it's cracked up to be in that scenario. :unsure:

Edited by General Congreve

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I am currently 90% silver 10% gold I have mostly bullion grade coins some of which are 2oz 5oz and 10oz also a proof set of britannias.

Also tomorrow I am picking up a1 kilo bar of sterling silver which was made from old spoons and other scrap silver this has been melted and assayed.

where was it done and what did the assay cost?

am interested in having this done myself

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Well done on the CGT front, although when the SHTF I won't be surprised to see CGT levied on sovereigns along with VAT to 'discourage speculation'.

Wish I'd bought more of the little buggers myself. Might have to go all black market when the time comes to sell!

I always planned for the long term but I know they can change the rules at any point so might have to do the same.

Having said that, they can only tax what they can find once they have the facts reported to them . If TSRHTF, in those circumstances it should be fairly easy to convince any overly eager (but likely impoverished) inspector that 'this is not the gold you are looking for' with a pretty, shiny coin or two ;) Failing that a bout of amnesia should be pretty easy to 'demonstrate'.

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  • 312 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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