Troy oz silver coins

[munchh]

Is anyone into this, a friend of mine admitted to me the other day that he has been buying them for years, on ebay they are around £17, he recons they have been for as long as he remembers, there are all sorts you can get, but its just a 31g troy ounce of silver, they seem to be worth more than a bar or ingot, but only because they are a coin?

Anyone got an insite into this, it would be nice as a physical investment even if the forget the end of world stuff?

[raz]

worth buying if u can pick them up cheap off ebay as u wont get VAT slapped onto them. i used to buy silver as part of my savings portfolio but had to upgrade to gold about 2 years ago as silver started to get VAT charged were as gold coins are still VAT free.

[munchh]

Thanks, that is worth knowing, but big difference in price, i might start buying one a month?

[Vespa]

http://www.bullionrock.com/c/7/silver-coins


They're far cheaper if you can stretch to buying them by the 10's or 20's.



Edit to add
Also remember that if you ever sell them to a dealer you will only ever get the scrap or bid price at the very most which is currently around £9.50 per TOz.

[Haplo2481]

I would recommend being careful buying silver off ebay. If the seller doesn't post a picture of the coin depicting the currency value its probably fake. They get a smaller jail sentence for counterfitting if they don't put the Yaun symbol on.

[Winklebury]

Hello All,

Something to consider is this. If buying for price alone, silver bars are closer to the spot price (cheaper) than silver coins, but are susceptible to VAT, whereas until recently coins were not. This difference between prices to the spot may have shrunk or disappeared after the VAT rule change, but it is still worth checking.

In addition, silver Britannia coins are only 22 carat silver (.925), whereas most bars are either .999 or even .9999 pure. So for a cheaper price per troy Ox you get a purer piece of silver.

For me, I am more interested in bars. There are coins kuje the canaduan maple leaf that are .9999 fine, but still bars are for me.

Winks

[munchh]

Ive seen the britanias and the maple leaf, the panda, but what about the gurnsey £2 1oz silver coins?

im now a bit torn as to why and what to start buying, coin is coin, people recognise it for what it is, so for barter purposes coin has got to be better than a bar that is going to be bigger i suppose. But if i want to start squirreling something away for my kids to uncover when im away to my maker and not have it be just some old fakes, well now im not sure?

[raz]

Bars are probably better from an investment point of view as wink said the purity is usually higher.. if your looking to use it as a back up way to barter in case of a financial meltdown, then you could always buy different weights 5g, 10g ingots etc

[Hamradioop]

personally I reckon coins are a better option than ingots or bars, they are more recognisable to people , and the familiar will have an appeal in itself. Thats why SF and Pilots have gold sovereign when in certain area of the world to buy themselves out of trouble they used to carry goolie chits as well on thee northern frontier in the 1920s.

http://www.victoriansatwar.net/archives/letters_1.html

[munchh]

Coins seem to be the way for the beginner, or so the all knowing youtube thinks, just so if you want to sell any for a quick cash injection you dont have to sell it all, for bartering to, the when you have a good coin base think about larger bars.
i have found you can buy rolls of 1/4oz coin or "rounds", but i havent found just blanks yet, that would be nice, it looks like its easy to get caught up in the premium collector type rounds, i think i like coins more, but then they do not seem to go up in price as there are more minted, a run of say 60,000 2013 pandas is going to go up in value as the get older, but american eagles will pretty much stay with the price of the silver as there are far more minted.

blimey, its more involved than i imagined!