View Full Version : Silver in CE

25th July 2008, 07:56
Just saying hello to everybody:)

I'm reading this forum for about half a year and decided to join and share news with all of You in case there is something interesting going on in Poland, Central Europe. There is a big silver producer out there (40 Mil oz/year) and I'm looking closer at this company for possible delivery delays of COMEX bars...

Nowadays there seems to be no shortage at all, besides there is ugly VAT here (22%), so there is not much interest in silver bullion coins. One of bigger internet bullion retailer with resonable prices has large quantities of silver bullion and has sold little for about a year. I wonder when his stash will be emptied ;)

Greetings and sorry for my language mistakes,


25th July 2008, 08:42
Welcome. :cool:

25th July 2008, 16:58
Welcome Pleu! -

I'm sure you're reading to learn as much as you can about silver investing. I've learned so much on this forum - I can't think of a newspaper column, or show on TV that would share so much useful information.

This forum has members from all over as you've probably noticed. I especially enjoy hearing about the day to day economic situations in Australia, the UK, China, and Japan. As much as everyone has their own opinion and political view; we seem to agree on one thing. All the countries of the world are taking advantage of the people they are supposed to serve. Trying to grow wealth where ever you are is a challenge. Finding useful solutions in a great way, like this forum is really a great thing!

25th July 2008, 22:30
Welcome welcome. English not needed. Heck, can't spel myself.

I always enjoy thoughts and comments from folks across the pond. Biggest education I ever got was getting out of the USA and seeing what the world was really like.

Any way around that VAT tax?? If you order from ebay???

27th July 2008, 16:14
Thank You for your warm welcome Argentum, nuslvrkwen and Raven,

I hope we will all share exciting posts when metals (not only precious as I believe) around the world become really valuable and people will learn to live within their means :)

As for VAT tax Argentum - as far as I know in Poland as in other EU countires silver is treated as an industrial commodity, thus there is value added tax 22% added to the price whenever you buy silver numismatics / bullion from the shop. Conversely, there is no VAT for gold in whatever form. IMHO people here never invested in silver as a public. They bought gold (or eventually smuggled from Russia like my parents) whenever economic hardship or debasement of currency happened (especially in the '60 and '70). In the '80 gold has lost its appeal and then in the '90 there was conversion from the central planned to free market economy so everybody smart was busy and has started its own business.

Nowadays Polish economy is comparatively sound with 5% GDP growth and inflation at the 4% (growing) and 6% (in rising cycle) central bank intersest rates. We have FDIC equivalent institution which insures deposits 90% up to 22.500 EUR (comparably to other EU states). And the Polish currency (PLN) seemed to be pretty strong up to now - from EU accession in 2004 both EUR and USD have fallen considerably against PLN. But I am aware that this trend might change easily because there are dark clouds coming over Polish economy - for example rising wages (10%+) and growing budget deficit might invoke the inflationary spiral.

What I'm saying is that a young generation of people don't have in memory a real economy crisis - unemployment is low, salary is good, they can afford cars, flats (mortgage), life is steady - they don't really care about diversifying their portfolio beyond CD, mutual funds or flats;) Of course some people invest in gold/silver but rather in numismatics.

One interesting thing I observed was strong buying of gold coins and bars in January. I think that these were older people buying for themselves or financial advisors buying bullion for their affluent clients, but this is only my guess.

I probably boring all of You now, so my 2 words about bullion market. There is one good indicator of silver bullion prices and this is a Polish version of ebay called allegro.pl . They control more than 90% of internet auction market so you can find over there just everything. There is not much bullion but rather numismatics so I'm just lurking over there and searching numismatics .999 or .925 which are sold at or below bullion price and this is working pretty well :) As for now there is a slump in silver numismatic coins prices (as usually in holidays) so I'm buying for what I have 'my precious' :)

I think there will be recovery from September and then growing interest at the end of the year - till then I just continute to accumulate...

28th July 2008, 15:18
Not boring at all. Refreshing, this is good stuff.