Greatland Gold Share Chat (GGP)

Hi Damo

Many thanks for the helpful information about Wisdom Tree physical au/ag funds, much appreciated. I will have a look.

ATB
Capn Carrot

PHAU, PHAG Wisdom tree, do hedged and unhedged versions. Also Bullion Vault store your physical, peer to peer buying, so spread tight, need about £2k minimum to make charges worthwhile, but can by as little as you want, monthly purchases averaging in is recommended, same as you are supposed to with crypto. Best of luck.

Ho CapnCarrot. The FX problem is unavoidable. Gold is priced in $s and any fall in the value of the $ against the £ will reflect in a lower POG priced in £s. One consolation is the £ will probably keep up with the fall in the $. ATB Speedy

Hi Speedy

Thanks for repeatedly sharing from your wealth of 50 years PM investing experience (recognising usual caveats of personal opinions, DYOR etc!).

Many thanks to everyone else too for all the information, differing opinions, and lively discussion about buying physical silver and gold.

Sprotts physical PM funds sound interesting. But one concern is that (say) the silver fund is traded in US$. I may be missing something obvious here, but doesn't this leave investments at the risk of falling in value over time with the anticipation of the US$1.9 trillion covid relief pack8age and expected (deliberate?) future depreciation of the US$?

I know I need to do more research, but are there alternative physical PM funds to Sprotts enumerated in a different currency (eg GBP) which would offer the same advantage of physical holdings of PMs without the disadvantage of exposure to the risks of the US $ depreciating?

Many thanks
Capn Carrot

Some interesting analysis on the same topic suggests gold may be nearing a bottom for the time being.

https://seekingalpha.com/article/4410191-gold-final-sell-off-is-here?utm_source=investing.com&utm_medium=referral

Fascinating dynamics in play at the moment; money supply growth/inflation/bond yields/paper vs physical gold etc.

PI

Anything that JPM claim to profess, do the exact oppossite!!

Hi Willowman. Find a dealer that trades through a bonded store to avoid VAT on silver Brits. There is no such thing as VAT free silver purchased and delivered in the UK, so called VAT free coins are just priced inclusive of VAT. ATB Speedy

Hi Tymers. The last thing i want is to get into a slanging match with you. I am not a door to door salesman and i have no qualifications regarding PMs except 50 years of watching and buying into the PMs market. The UK gov has never confiscated citizens gold. Storing PMs offshore is also a way of avoiding that if you are worried. If you are not a fan of reading about the PM market then skip the post, easy really as i always post under POG. My GGP holding was purchased by selling gold coins and wen i sell GGP the funds will go back to coinage. One other point, the purchasing power of the £ and $ have both fallen approx 95% compared to gold in the last 50 years, only another 100% fall and fiat is zero. If you have anything to add to the debate please do so but trying to put down the longest lasting currency on earth is a very hard thing to achieve. ATB Speedy

Speedy, regarding silver Britannias, you are correct that any gains are CGT free. However all new silver, including Britannias, do attract VAT at 20%. It is sometimes possible to buy second-hand Britannias from some suppliers and these are VAT free. New silver bars attract bot VAT and CGT so the government enforcers skim when you buy and then come back around to skim your profits if you are lucky enough to exceed the tax free "allowance" they permit you to make.

Old scrap UK silver coins, pre 1920/92.5% Ag and pre 1947/50% Ag are free of both VAT and CGT but dealers pay a lower price for them when you come to sell. This is because they need to go to a refinery to extract the Ag, this process costs money and during PM booms refineries tend to become overwhelmed.

Non UK gold coins such as Maples, Krugerands etc are liable for CGT on profits. Gold Brittanias and sovereigns are free from all taxes.

I'm not a financial advisor or an expert but I have been a PM bug for many years.

@Jack
Thank you.
44 years at sea in various jobs is long enough.
ATB

First time poster on GGP, but a holder of shares. Some interesting conversations ongoing and there is some activity in the markets that will make the markets interesting in the next few months, including bonds, QE and PM prices. The size ofdeliveries by the Comex and whatever China and the big players do could impact the PM prices and this will be beneficial for us as shareholders. There is no doubt that gold and silver is manipulated with paper stocks being sold on the market to drive the price down and it is do or die for the bullion banks. If you are looking to help with the silver squeeze, keep away from ETF's and buy physical (or use Sprott) and remember, "gold is the money of kings, silver is the money of gentlemen, barter is the money of peasants and debt is the money of slaves". Rising PM prices is what we need, how this affects the economy and buying power of fiat is another question :-)

Djingle - thanks for posting the Harry Dent interview. He sounds too much like a self promoting conspiracy theorist to me. If his prediction comes true then we are all in for a shocking two years.

Here’s hoping for a 24p open and a uptick in the gold price to drive a bit of March positivity.

@Lam1. You're more than welcome. IMHO there are worse companies than GGP for your SIPP. Good luck with your retirement plan.

Jack
Cheers for your reply.
Know as much about dealing in physical silver/gold as I do shares so I cannot comment on historic happenings.
I do know that some of the dealers have limited stock including RM.
Anyway
Waiting on 3 different pensions to put most or all into GGP sipp.
This company is a near 1 in a million and hopefully I can retire at 60, 5 years to go?
ATB

"The government could decide to nationalise the gold at a price in worthless currency they set for themselves or maybe not even pay for it at all. The government has no reason to nationalise your GGP shares but it has plenty of incentive to seize your gold stash."

Jack, you've been reading too many US history books.

History doesn't repeat itself, though it may rhyme. If confiscation ever comes about, and I don't think it will unless we morph into a Chinese type geopolitical structure, there will always be a thriving black market in PMs, just like there is now in US Dollars in places like Zimbabwe, Russia.....so hold onto your gold and silver stash.

UFO? 5 years ago 1.00, 5 years later 1.04 better leaving it under uoyr mattress

UFO
PSLV
Bullion

Agree?

Very interesting conversation and video...

That video leads me onto this one:

https://www.youtube.com/watch?v=74fYx1LPaVk&ab_channel=StansberryResearch

worth a watch and also an opinion (towards the end) that gold and silver could in fact drop quite considerably.

Whatever the time frame, whoever the large players are, wanting your hard earned cash (unlike themselves!), personally I'd rather throw cash out of a 25 storey window than do anything remotely close to what the likes of JPM or GS believe I should do!

I'll stick with GGP now, thank you, with a sp underpinned by a once, if not more, generational find!

DYOR & GLA!

Hydro, your right. Look at GME, that was almost 100% social media.

Everything is changing before our eyes, people in general are becoming more aware and more interested.

But if there is a crash, it will be a bad one, C19 and the global drain on economies can't be sustained by pei ring money.

We might get a dip wed/thu when budget figures are announced.

You make a fair point Jack. IMO The difference this time is Social media.. I think it the leverage that will tip the balance.

It Didn’t exist last time, in 2008, so the ordinary folk - the masses - weren’t really that ‘fiscally aware’... so the cumulative ‘network effect’ didn’t exist.

But having been through the GFC and 10years of austerity... this time it’s different. The masses want revenge. The minors want revenge. All the financial gurus are aware of this, the fund managers in speaking to, and kinda desperately hoping it doesn’t happen...

But it will. Because they cannot keep diluting the $ to infinity: It’s financial abuse on an epic scale.

Jackthebear. Exactly and quite a few missing the point! Glh

@Lam1: "One thing mentioned about having shares in the likes of GGP and others being better if all crashes, do they not drop the price immediately and then it is very difficult to sell? "

In the worst case if the system crashes then everything crashes. BUT you will still own a piece of the company. No government is going to take those shares away from you. The problem with the idea of keeping the gold bars in a safe location to buy a nice farm in the country is that if the balloon goes up it might turn out not to be safe. The government could decide to nationalise the gold at a price in worthless currency they set for themselves or maybe not even pay for it at all. The government has no reason to nationalise your GGP shares but it has plenty of incentive to seize your gold stash.

Might add a bit more if it looks steady. But I'm 5yrs in, so 5 weeks of nonsense has not made much difference to my overall plan. 18months and I'll review my position.. Or sooner if there is corporate activity.

Agreed Tymers
I have bought nothing else but GGP in 2021 so far.
I have added reasonable amount to what was a decent holding. Multiplying my average.
GGP is my main focus. At these prices it will be prudent to add.
ATB
Regards
Coach
PS : Got to get out while the sun is out.