Boro

iTrader: (1)

I've been thinking about investing lately but to be honest I have no idea which is the best way to get started.

Silver prices look good at the moment, but should I be looking to buy physical stock and where from?

EddScott

You could look at a precious metals ETF?

http://www.etfsecurities.com/msl/etf...cal_silver.asp

Although I'm not 100% sure how you would go about it without using an IFA - I think you can buy ETFs via Hargreaves Lansdown although they aren't my COT at all.

Boro

iTrader: (1)

Thanks. I'm looking at this as a long-term invest rather than trading.

Can anyone recommend a reputable UK bullion dealer or a UK based forum?

Leslie

It always used to be cheapest to buy in Dubai if I remember correctly. Might be worth the trip if you want to buy a lot of it.

Les

Boro

iTrader: (1)

One of the problems I'm finding out is silver is vatable in the UK. Guernsey sell it VAT free and Germany sell it at 7% VAT but then I could get a knock on the door from the vatman at some point in the future lol.

I did read that if you buy goods in the EU and pay that countries vat rate then you don't have to pay the UK vat amount or the difference. Hmmmm.

Gold on the other hand is VAT free!

MJW

I use Bullion Vault for physical gold, they trade silver as well :

http://www.bullionvault.com/

Boro

iTrader: (1)

When you say physical, you mean they keep it for you?

GlesgaKiss

Have a read of their site. Pretty difficult to beat.

Krugerrands are another option.

Boro

iTrader: (1)

Is it actually physical though? I mean, if every one of their clients decided they wanted their bar, coins or whatever. Would they actually HAVE IT?

EddScott

I didn't know this existed. Looks like a good alternative to ETFs.

http://citywire.co.uk/money/bullionv...estors/a442965

Bit out of date mind but worth a read.

GlesgaKiss

Yes. All this information is available on the BullionVault site.

"Allocated gold is held as your personal property in explicit physical form. It is not used to support a lending program, or any other financial device. It is held away from company balance sheets under a safekeeping, or custody program, so it could not be accessed by a liquidator in the event of company failure by us or the vault operator, because you are the owner, not a creditor. We like allocated gold because it is very well protected from default."

and;

"Full gold ownership records are copied to our auditors - Albert Goodman, and to Via Mat. The details can be accessed after decryption using a digital key which is held in duplicated escrow at the London and New York offices of our lawyers - McDermott, Will and Emery - to be released to our data guardians in the event of our annihilation."

Dingdongler

http://www.goldline.co.uk

Boro

iTrader: (1)

I've been looking on there today. Owned by Bairds so looks reputable

There's something special about actually having possession though isn't there?

john banks

My Silver ETF was backed by AIG and I could not trade it when AIG got into trouble.

Physical precious metals I considered a PITA due to insurance and possible assays.

Spread betting gold did me very well. You don't pay tax on the winnings.

You don't need an IFA to trade ETFs. You also don't pay stamp duty.

Boro

iTrader: (1)

I was thinking along these lines...

http://www.guernseymint.com/shop/gol...-23/c-69/p-129

Dingdongler

I'm not going to give investment advice but depending on why you believe in precious metals it may well be better to own physical.

I can vouch for Bairds. You can go to their outlet in East London and collect your precious

DYOR

Boro

iTrader: (1)

Thanks, lol. Bit of a trek from Cornwall to London to pick up 1oz haha.

Dingdongler

Fair enough, I'm sure they'll post out though!

This company is sometimes a little better on price

http://www.coininvestdirect.com/en/