Question About Silver Prices And Silver Britannias

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Author	Replies: 4 / Views: 1,769
bradez72 New Member United Kingdom 33 Posts	Posted 01/08/2016 12:15 pm Hi, Just a quick question about silver prices per ounce and 1oz silver britannias, I know silver is currently around £10 per ounce, and 1oz silver britannias are around £17 on ebay, If silver prices rise £5 per ounce to £15 an ounce, would silver britannias also rise by £5 or would the price stay the same at around £16/17? Just because I want to start saving up and investing, and by buying an ounce a week of silver helps me save money without spending it and maybe worth more at the end of year. Also would you recommend any other coin eg; silver maple or silver dollar, Thanks, Brad Report this Post to the Staff

moxking Rest in Peace United States 17900 Posts	Posted 01/08/2016 3:05 pm The premium that you pay (the cost above the silver value) has to do with the initial cost from the mint to wholesalers who buy crates of them, and the silver price itself. It is often true, as it is right now, that as the price of silver goes down, the percentage you have to pay for the premium goes up. That's happening now. Silver values have gone down, but the final cost you pay for a bullion coin from any of the larger mints hasn't changed a great deal, if at all. If you are buying bullion coins because you like coins, then there are lots of world mints that issue one ounce (and more than one ounce) silver coins with the price having at least some nodding acquaintance with the value of the silver contained therein. If you are looking for a place to save assets, you are probably better off buying bars rather than coins as the bars have a much smaller premium over the price of silver. At least then, if the price of silver increases, you at least have a chance at a profit. Oftentimes, with coins, the silver price has to change A LOT before you realize any profit. It is not true that by placing your money into silver coins that you have any better chance of making a profit. It is not true that 'at the end of the year' what you bought will be worth more than what you paid. It all depends on the price movement, or lack thereof, of the 'spot' price of silver. And NOBODY knows the answer to that question and anyone who tells you they do know is blowing purple smoke. Report this Post to the Staff
bradez72 New Member United Kingdom 33 Posts	Posted 01/08/2016 4:22 pm Thank you for the advice, I found it difficult to try and find any elsewhere, I like coins and have been collecting for a while now, I dont have enough money to buy a bar or I would, I was planning on saving around £15 a week in a tin, but then I thought if I bought some silver one ounces, for example one per week, then I couldn't spend the money I would be saving, And I would love a full draw in my coin box full of 1oz silver coins, I have so far bought only 2 at £15 each, which I dont think is a bad price, and I cant see them getting cheaper, even though its possible they could, If the value of them decreased then I would keep hold of them I think, In 2012 and 2013 silver averaged at about £20 an ounce, now its just 9.50, I may look into saving up then buying a bar, Thank you for your response, I didnt realise the mints uped their premiums with lower silver prices, Brad Report this Post to the Staff
jgenn Pillar of the Community United States 1156 Posts	Posted 01/09/2016 6:27 pm bradez72, if I read your comments correctly you seem to be thinking that your savings should be in silver coins. Before you commit any more funds to buying silver, I suggest that you find out how much cash you could get for a 1oz silver coin if you had to sell one in an emergency. Standard financial advice is that you keep at least one month's living expenses in cash in case of emergency, two or three is better. When you have your emergency fund saved up only then should you consider other types of investment. Most financial advisers would say that no more than 5% of your investments should be in precious metals. I apologize if I have misunderstood your saving/investing stragegy. Edited by jgenn 01/09/2016 6:28 pm Report this Post to the Staff
kena Pillar of the Community United Kingdom 1682 Posts	Posted 01/10/2016 11:38 am It is probably too early to tell how the market will react in pricing of the .999 pure bullion silver Britannia coins which have been minted to order since 2013. We also don't know how much the dealers are paying for these from The Royal Mint. I know of one dealer who is buying the 2013 onwards bullion silver Britannias at £10.39 right now. You would need to factor in the cost to post the coins to them or cost of driving to them. Report this Post to the Staff
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