RE: Buy At Least 1000 Silver Coins & You'll Be A Millionaire Soon!
Good advice,
JPM hasn't accumulated the biggest physical silver stack in history by accident. The GSR (gold silver ratio) is currently at around 80 and it should be 14 oz of silver per 1 oz of gold
Though I would question buying 1000 1oz coins. for cost sake. Yes they are more liquid but maybe spread it out but
You would be looking (in AUD) at say $31,000 for 1000x 1oz coins
Where as you could buy 1000 oz in 10 oz bars for $28.5k
They are still very liquid and sell quickly on the markets.
Even better would be 1kg bars ( 32.1 oz) for 28k. Normally this is a bigger gap between 10's and KG's just some really cheap 10oz's on the page I linked currently,
Just stay away from high relief 'premium coins' even those from Perth Mint, the milkspots is now effecting pretty much every mint in the world, so dont pay extra for a coin that has a high chance of developing milk spots and losing it premium status. Plus then storage isn't an issue
Thank you thoth! :) The reason I said silver coins is because they are Capital Gains Tax FREE if you buy the coin for your residence, the bars are not. I agree with not wasting money on numismatic coins and to buy your silver as cheap as possible but if you want to avoid paying CGT when it comes to cashing in on your profits then it's wiser to buy the coins! Also the real mining gold to silver ratio is 9 to 1 for every 1 oz of gold the miners mine they find 9 oz of silver. Most important thing is NOT to store your precious metals in the banking system, use a secure independent firm, & do your due diligence! In London, UK I recommend using http://www.metrosafe.co.uk/
Ahhh your a pome, yeah you guys get hammered on taxes for PM's
Is it the same in Ireland? I would be buying there
Yes we sure do! :( The import duty rate for importing Silver coins into Ireland is 0% , the import VAT is 23%, when classified under Jewellery & Watches → Precious Metals → http://www.dutycalculator.com/dc/271681/antiques-collectibles/coins-stamps/bullion-silver/import-duty-rate-for-importing-silver-coins-from-united-states-to-ireland-is-0/