buying silver

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steven1976
Posts: 1744
Joined: Tue Jan 19, 2010 6:28 am

I quite like the idea of buying silver at the moment at the current price.

I've never been an investor and would like to know what would be the best way to go about it? Do I need to physically buy the silver, if not, how do I go about buying it and from trust worthy places as I am always worried about dodgy investments due to living where I live.

Any advice would be appreciated.
spreadbetting
Posts: 3140
Joined: Sun Jan 31, 2010 8:06 pm

Might be an idea to say where you live, in the UK VAT is payable on silver if you take delivery. Obviously in other countries that may not be the case.
steven1976
Posts: 1744
Joined: Tue Jan 19, 2010 6:28 am

Thailand but i can also buy it in Singapore I presume. I don't want to take delivery if its just to hold onto.

Ste
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marksmeets302
Posts: 527
Joined: Thu Dec 10, 2009 4:37 pm

Unless you foresee an apocalypse, holding physical silver is usually not recommended. Taxes, risk of theft, cost of storage etc.. If you project the price of silver to go up, the easiest way to own silver is through buying an ETC (exchange traded commodity, a bit like an ETF). Popular ones are SIVR and SLV. There are risks involved that you wouldn't have when owning physical silver though. For instance counterparty risk, that was a bit of a thing back in 2008 :D .

Mark.
steven1976
Posts: 1744
Joined: Tue Jan 19, 2010 6:28 am

Thanks mark,
A friend who sells silver jewelry also mentioned ETC but Ive never heard of them, so will read up on them.

Counter party risk sounds "risky"! Its a dodgy old world we live in now. Im thinking a new mattress is probably the safest buy.

Any other advice surely appreciated.
Wainwright
Posts: 108
Joined: Mon Jan 23, 2012 1:10 pm

A new mattress sounds the way to go - always good to have something to fall back on ;-)
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marksmeets302
Posts: 527
Joined: Thu Dec 10, 2009 4:37 pm

In that case you might want to go for silver coins. Most countries allow you to purchase those without having to pay taxes. There are websites that offer boxes of 500 silver maple leaf coins or Philharmoniker coins for about 8K (euro). The spread is horrible though.

Mark
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