I just bought 40 separate ounces of Silver. The money I used was sitting in the bank and the best interest that I could get was 0.75 % So I thought take a flyer.
The difference between scrap price and the price that I paid was £10. There is a 20% VAT charge for a start! Postage,insurance,profit and costs for seller. Fair enough. So Silver must rise by £10 per oz for me to break even.
I thought,if the shit does not hit the fan,I could put chains on them and sell them next Xmas. Good plan,in theory! It costs £8.20 per oz to put on loops for chains. I have been quoted for the chain to take the weight at a cost of £42 !!! So that adds £50 per ounce to basic then my profit.
So that plan went out the window!! I still think I can get cheaper chains that will do. But putting a chain on doubles the price,immediately. I have seen chains for £5 each but will they take the weight?
So I got 40 ounce of Silver. Hope the shit hits the fan.......soon. !!
The difference between scrap price and the price that I paid was £10. There is a 20% VAT charge for a start! Postage,insurance,profit and costs for seller. Fair enough. So Silver must rise by £10 per oz for me to break even.
I thought,if the shit does not hit the fan,I could put chains on them and sell them next Xmas. Good plan,in theory! It costs £8.20 per oz to put on loops for chains. I have been quoted for the chain to take the weight at a cost of £42 !!! So that adds £50 per ounce to basic then my profit.
So that plan went out the window!! I still think I can get cheaper chains that will do. But putting a chain on doubles the price,immediately. I have seen chains for £5 each but will they take the weight?
So I got 40 ounce of Silver. Hope the shit hits the fan.......soon. !!
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