Fresnillo Share Discussion Threads

[trader536] 16/2/2021 14:32

zicopele - why? Silver is up about 50% since Feb 2020 and FRES share price is up around 100% over the same period while the FTSE is down by around 7%

Anyone who held FRES over the last 12 months has outperformed the market significantly, something which most fund managers fail to do.

How would you have faired if you had parked your cash in the bank for 12 months?

[imastu pidgitaswell] 16/2/2021 14:25

Bitcoin...

...is this month's explanation - all the money that was going to send gold and silver to the moon after the Fed and others' money printing is instead going into the new 'safe haven'(!)

Not that it has gone, but that it will go. Hence the price weakness and that of the miners of the stuff - seen Greatland Gold lately?

Ahem...

If it does happen, just think how much higher gold and silver will actually go when bitcoin et al all turn to dust (in fact not even that)

My personal view on bitcoin:

[zicopele] 16/2/2021 14:11

These guys are making so much money right now. But share price would not suggest that this is the case.

[nikdey] 15/2/2021 15:49

Sorry, This is off the main topic but... CGT information from the royal mint states that legal tender is free of CGT.Quote:The good news for bullion buyers is that legal tender is exempt from CGT in the UK, meaning that coins such as The Sovereign, Britannia, Lunar and Queen's Beasts do not attract the tax in the UK.Endquotehttps://www.royalmint.com/gold-price/capital-gains-tax-on-investments/From this I understand that non legal tender coins. i.e. pre decimal currency is not CGT free. Does anyone have a link to a reliable source that says something different? I have previously read the HMRC CGT manual and it does not exclude predecimal coins. Its been a few years since I read it, but I don't expect the government has become less tax hungry in the last few years.

[imastu pidgitaswell] 15/2/2021 14:39

It's a puzzler - silver up, FRES down.

Anyway, just added a few back from last week, after some sales elsewhere.

[badger100] 14/2/2021 19:40

All U.K. coins of the realm are cgt free regardless of age.Gold sovereigns are cgt exempt as are all silver Britannia’s and pre decimal silver coins.

[plat hunter] 14/2/2021 17:53

Well to split hairs...CGT is levied on equitable assets only.Buying coins and bits of jewellery ergo doesn't attract cgt, however if you invested in a fund that purchased coins and bits of jewellery. Your investment would be a unitised security, ergo attracting cgt

[amaretto1] 14/2/2021 13:37

No you don't !! All coins are CGT exempt

[nikdey] 13/2/2021 18:59

I believe you do have to pay CGT on gains made on old coins. They're no longer legal tender.

[badger100] 13/2/2021 10:30

Many,many problems stacking silver in U.K.VAT at 20% is a killer for investment grade bullion,premiums and postage from dealers is another.Doesn’t make financial sense unless you’ve got an edge.I bought all of my investment grade through word of mouth and through auctions at spot or below.Auctions are basically finished due to people money laundering who are prepared to take a loss and it is a very small market in U.K. due to the afore mentioned problems.I’m old school and have accumulated most of my silver as sterling silver,bars ,coins,tea sets ,trays,cutlery.Old pre 1947 50% silver coins,pre 1920 sterling silver coins are the best with no cgt to pay on there sale.

[rarther] 13/2/2021 02:55

If you want to get into stacking, join The Silver Forum - there are many like-minded people sharing ideas about how to stack and you will find out everything you need to know over there, including this question about spreads and logistics of selling when the time comes.

[nikdey] 12/2/2021 11:44

What's your prime reason for taking physical delivery? You can offload easily back to where you bought it from. Any reputable dealer will take it back. But you're going to get a lot less for it than you paid unless the silver price increases significantly. If you look at CoinInvest.com they provide both the buy and sell price for each product. They'll pay you 20-40% less than you pay them. VAT is the main problem. If you sell in small quantity in private sales you can get what you paid back fully, but it's not easy to do this with large quantity and there's a security risk from telling people you've got silver in hand. If the price of silver increases significantly, the sell premium is less of an issue.

[permbear] 12/2/2021 10:35

Thanks for your responses, yes I intend to take delivery. But what about when it comes to potentially selling in the future? The physical silver market doesn't appear to be that liquid and I've heard of people struggling to actually offload it without absorbing a discount from the buyers.

[plat hunter] 12/2/2021 10:08

Buy second hand from the pawn shop... you'll get bang on spot if you haggle, no vat and no minters premium.

[nikdey] 12/2/2021 09:59

Do you want to take delivery of the silver? It's worth getting a bit so you can feel your product. But from what you've said you might be better off with bullionvault or goldmoney. They vault the metal for you. Or there's Bairds Mint where they will vault coins for you. There's no VAT if you don't take delivery. If you buy Britannia coins or Queen's Beasts there will be no Capital Gains tax.

[imastu pidgitaswell] 12/2/2021 08:28

Try this thread - most of them are QANon believers and conspiratorialists. And frankly completely hatstand. But they do know silver - one of them has an online shop as well at weekends.



They could do with some new blood on that thread too - they've been at it for years without realising no-one cares.

[permbear] 12/2/2021 08:22

Who here has experience of selling physical silver in the UK? Specifically from a liquid/illiquid, price premium/discount perspective. I've had exposure to silver through miners and ETFs (including physical) for a while but now intend on accumulating physical bars and coins, particularly after the recent price drops.

I have heard (but not necessarily well-founded rumours) that selling physical silver is actually quite onerous with few serious buyers who lowball you and surprise discounting on spot price. Would prefer to hear from the oldies who've perhaps done many transactions over decades. Thanks in advance.

[trader536] 12/2/2021 08:15

Stupid - did you see the news at GRL today? Did I mention I'm sitting on 1m GRL shares at 2p average?

Its far better living your life to the full while the market takes care of itself, it will be here long after you are gone.

[trader536] 12/2/2021 07:56

Stupid - yesterday you waisted yet another day of your life watching very little movement. If you don't put much value on your time/life then I suppose its good enough for you.

[fast lane] 11/2/2021 20:13

In 1972 Lemmy knew about the Silver Isotopes (thers's two)

I said I just took a ride, In a silver machineAnd I'm still feeling mean
It flies Sideways through time It's an electric line To your zodiac sign –