Buying gold and silver as an investment and/or to wear

[MontyVeda]

Like stocks and shares, the value of precious metals goes up and down. It mightn't be quite so valuable when the need to cash it in comes. I'm stock piling Lithium

 

[cougie uk]

If I have my cash in an account I make sure it's earning interest.

I'm not putting money into anything that could slip off my finger or get stolen very easily.

 

[Nibor]

I heard a 'gold expert' on the radio a few years ago say that all the gold in the world would only fill three Olympic sized swimming pools. Yes, those pools are big, but I would've thought there'd be tons and tons of the stuff. 🤔

I once worked it out from the available data and the internet seems to agree all the gold in the world would make a cube which woukld be 93.7 meters along each edge 165000 tonnes which is 165000000 kg a fair amount for a preciuos metal.

 

[Hover Fly]

Back in the 2000s despite everyone's advice I invested a fair inheritance in gold. Sovs were £50 each, selling for £400 or so now, free use of a safe, my advice is if buying for investment go for coins. Jewellery watches etc you're paying for work which may go out of fashion.

165000 tonnes which is 165000000 kg a fair amount for a preciuos metal

Compare to 21million tons of copper Chile alone mines annually.

 

[Accy cyclist]

If I have my cash in an account I make sure it's earning interest.

I'm not putting money into anything that could slip off my finger or get stolen very easily.

Where are these interest earning accounts? I've yet to find one that offers enough interest, worthy of putting money into it. I have money in accounts, but the interest rate is almost non existent. It'd be different though if you owed them money, then you'd see high interest rates! As for losing rings, you have to get those that fit tightly, yet are still able to be turned round your finger. Wearing rings that fall off easily is asking for trouble. As for theft, yes 'bling' attracts criminals. My goldsmith friend has a sign up in his shop stating that he does not buy gold! I've been in and seen scrotey types walk in nervously, almost begging him to buy this chain or ring that Quote...Was left to them by their grandma blah blah. You can almost guarantee that they've just robbed the gold item off some poor unsuspecting type and want to get a few tenners to buy some 'smack'. The goldsmith told me that if he was to buy it then he'd be classed as a fence. and could lose his trading license. Not only that, but who wants to help some scrotey smackhead make a few quid so he/she can buy more smack?! If you did that you'd be contributing to the crime in your area and become as bad as the criminal.

 

[classic33]

Where are these interest earning accounts? I've yet to find one that offers enough interest, worthy of putting money into it. I have money in accounts, but the interest rate is almost non existent. It'd be different though if you owed them money, then you'd see high interest rates! As for losing rings, you have to get those that fit tightly, yet are still able to be turned round your finger. Wearing rings that fall off easily is asking for trouble. As for theft, yes 'bling' attracts criminals. My goldsmith friend has a sign up in his shop stating that he does not buy gold! I've been in and seen scrotey types walk in nervously, almost begging him to buy this chain or ring that Quote...Was left to them by their grandma blah blah. You can almost guarantee that they've just robbed the gold item off some poor unsuspecting type and want to get a few tenners to buy some 'smack'. The goldsmith told me that if he was to buy it then he'd be classed as a fence. and could lose his trading license. Not only that, but who wants to help some scrotey smackhead make a few quid so he/she can buy more smack?! If you did that you'd be contributing to the crime in your area and become as bad as the criminal.

You're certain they're all scrotes and smackheads?

 

[Gunk]

I own quite a bit of silver, bought most of it when it was around £50 per 100g. It’s hovering around £85-£90 at the moment but has dropped over recent months.

if you going to buy it as in investment just buy bars rather than jewellery

 

[Accy cyclist]

I own quite a bit of silver, bought most of it when it was around £50 per 100g. It’s hovering around £85-£90 at the moment but has dropped over recent months.

if you going to buy it as in investment just buy bars rather than jewellery

Yes, but you can't wear bars. If you buy gold to just keep it in a drawer you might as well put the money in a bank. I read that buying gold bullion in vast amounts is the way to make money, not just buying the odd bit here and there. My intention as I said in the opening post was/is to see gold Items I've bought maintain the price I paid for them and maybe even increase in value, though any increase won't make wealth as such.

 

[cougie uk]

Where are these interest earning accounts? I've yet to find one that offers enough interest, worthy of putting money into it. I have money in accounts, but the interest rate is almost non existent. It'd be different though if you owed them money, then you'd see high interest rates! As for losing rings, you have to get those that fit tightly, yet are still able to be turned round your finger. Wearing rings that fall off easily is asking for trouble. As for theft, yes 'bling' attracts criminals. My goldsmith friend has a sign up in his shop stating that he does not buy gold! I've been in and seen scrotey types walk in nervously, almost begging him to buy this chain or ring that Quote...Was left to them by their grandma blah blah. You can almost guarantee that they've just robbed the gold item off some poor unsuspecting type and want to get a few tenners to buy some 'smack'. The goldsmith told me that if he was to buy it then he'd be classed as a fence. and could lose his trading license. Not only that, but who wants to help some scrotey smackhead make a few quid so he/she can buy more smack?! If you did that you'd be contributing to the crime in your area and become as bad as the criminal.

6.25% is available from Lloyds for regular savings. There's better for lump sums.

 

[Cycleops]

After buying it, I showed it to a fellow shop worker from another shop I visit. She said Quote..."Yes, it's nice, but for five hundred quid you could've gone to Benidorm for Christmas"!! Mmm, should I have spent my dosh on Christmas in Benidorm, eating egg chips and beans and supping pints of lager for breakfast? 🤔
https://www.loveholidays.com/holida...=7&rooms=2&date=2023-12-21&flexibility=0&sort

You gotta remember you're in Accrington

 

[welsh dragon]

I bought silver dollars about 15 years ago and I have a decent amount of gold, platinum and diamond rings that we bought all for investment purposes.

No idea what they are worth now though, but fair bit.

 

[vickster]

I bought silver dollars about 15 years ago and I have a decent amount of gold, platinum and diamond rings that we bought all for investment purposes.

No idea what they are worth now though, but fair bit.

Would be sensible to get valued for insurance purposes?

 

[presta]

Gold hasn't even been keeping up with inflation lately:
https://www.macrotrends.net/1333/historical-gold-prices-100-year-chart

 

[Cycleops]

...but that could change as the economy looks like it's heading for recession, which is when precious metals rise in value.

 

[Mike Ayling]

I bought silver dollars about 15 years ago and I have a decent amount of gold, platinum and diamond rings that we bought all for investment purposes.

No idea what they are worth now though, but fair bit.

Do you wear the rings WD?