ak09 Posted April 28, 2011 Share Posted April 28, 2011 Hi there, Does anyone know of or have been involved in investing in some silver/gold, Basically you buy some gold/silver and then sell it a couple of months after when the value goes up. Where would you buy genuine gold/silver it from? Iv heard that some people keep it in the banks and basically its value keeps on growing. Thanks! Link to comment Share on other sites More sharing options...
cryptic1 Posted April 28, 2011 Share Posted April 28, 2011 Easiest way is to buy Gold sovereigns from a reputable dealer and see wherever you can get the best price. Avoid dealing with money making organisations like The Royal Mint and Westminster Coin Club, and definitely avoid coin dealers like Chard of Blackpool. I made the mistake of buying from the Royal Mint (overpriced) for around £3500 five years ago, but made £2000 profit selling to the pawn/gold shop on London Road a few months ago. Genuine guy... so if you believe the price will still go up, just buy and sell through him. You are a braver man than me though, the price has to fall eventually. I also made a grand very quickly on buying and selling Junior Gold Trust, a unit trust specialising in Gold mining shares. Link to comment Share on other sites More sharing options...
ak09 Posted April 28, 2011 Author Share Posted April 28, 2011 Many thanks! Would you recommend that I buy bars of silver from that place on London rd then? Link to comment Share on other sites More sharing options...
SlimRick Posted April 28, 2011 Share Posted April 28, 2011 I've had a Bullion Vault account for a couple of years now - not got a huge amount invested but the value has grown well since I started. http://www.bullionvault.com Link to comment Share on other sites More sharing options...
RichK Posted April 28, 2011 Share Posted April 28, 2011 And best of all, the value can ONLY go up. It will never, ever go down. A bit like houses. Link to comment Share on other sites More sharing options...
Expat owl Posted April 28, 2011 Share Posted April 28, 2011 RichK.....a lot of people will understand your tongue in cheek comment but the thick ones on here will not and they will take you at face value that the price couldn't fall. Irresposible post !! Link to comment Share on other sites More sharing options...
shortcrust Posted April 28, 2011 Share Posted April 28, 2011 My advice would be to only do it if you can afford to lose money. It's more of a gamble than an investment. Link to comment Share on other sites More sharing options...
RichK Posted April 28, 2011 Share Posted April 28, 2011 RichK.....a lot of people will understand your tongue in cheek comment but the thick ones on here will not and they will take you at face value that the price couldn't fall. Irresposible post !! When you're a seller you've got to do all you can to keep the prices high. Link to comment Share on other sites More sharing options...
Cyclone Posted April 28, 2011 Share Posted April 28, 2011 You can also invest in funds that are invested in precious metals, saving you the problem of either storing or paying to store bullion somewhere. Link to comment Share on other sites More sharing options...
Rupert_Baehr Posted April 28, 2011 Share Posted April 28, 2011 Hi there, Does anyone know of or have been involved in investing in some silver/gold, Basically you buy some gold/silver and then sell it a couple of months after when the value goes up. Where would you buy genuine gold/silver it from? Iv heard that some people keep it in the banks and basically its value keeps on growing. Thanks! 1. That's called speculation - it's not investing. 2. Nobody - on this forum or elsewhere - can give you good advice without knowing a great deal more about your investment needs and your financial position than you've put in your post. 3. The simple answer to your question - based on the information you've given - is 'Investing in precious metals is not suitable for you.' 4. If you do think you have money which you wish to invest, get some professional advice. You will pay for that advice (though you will probably pay via the commission which the broker charges when you buy and sell an investment.) You will almost certainly pay less than you would pay if you made an unsuitable investment! Link to comment Share on other sites More sharing options...
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