Hi A long time user of BMW forums and then it occurred to me to join a precious metals forum to learn a bit. I suspect there are also a few readers of Ayn Rand in here. I am about to pull the trigger on some physical purchases of silver mainly and perhaps a few ounces of gold. I have been watching and reading for little while now but I have been of the opinion that things are on a shaky foundation. I have USD to spend and was thinking 1kg, 10oz, 5oz in bars and then a mix of coins/rounds through SD Bullion and Perth Mint on the AUD side being my local. I have always liked silver from a young age but should I include some fractional/gram gold and a few 1 ounce bars or just use my money to buy silver? I am not looking to trade it just as a hedge against inflation and I dont trust the banks as far as I could spit them and with the new bill introduced to parliament to make it illegal to use cash for business transactions over $10k I feel its a slippery slope we are heading down. Is say 2000-2500 ounces diving too deep first off?
Perhaps test the waters with smaller quantities first to see what you like and see where the price is moving. You can't go wrong in silver with any size really. 10oz plus bars for stacking and 1oz rounds and Predecimals for bartering/trading/selling. In terms of gold I started with 1oz bars and larger fractions (1/2,1/4) but made the move to all 1/10 oz because I feel like the price is at a stage now where moving larger pieces is getting harder. Just my two cents. Warm welcome to the stacking family and one of the most expensive addictions besides snorting coke.
By the way you're about the third or fourth John galt we have on here. You guys should have your own forum subsection for get together at this rate!
Yes I realised that after I signed up....Greenspan was a disciple of Ayn Rand but he sold his soul to the system. Gold is certainly on tear today but I tend to think smaller units in gold will be easier to sell randomly I would have thought. I have no debt, roof over my head and no wife but whilst not a doomsday prepper I am thinking about some land and flipping the bird at the system
G'Day and welcome. What you buy is subject to your needs / investment criteria. As 66rounds noted, spread the purchases across a range of different AU & AG bars and coins / rounds. Some good buying here in the SS forum.
You have a good mix there, nothing too big which would be difficult to sell and nothing so small that it gets a large premium. As you buy stuff and look at stuff you will get a feel of what you enjoy buying and what interests you.
Welcome indeed. Big chunks can be harder to move. I know your stacking but one day you may want to sell some. Smaller sizers are easier to move. Good luck and enjoy.
Now I'm getting suspicious... I'm almost willing to bet one ounce of silver that while we have 3 Johnlgalt's here there's probably only 2 IP Address between them. Anyhow, if your genuinely an new Johnlgalt, then welcome along. I like 1kg's 10 oz and 1966 50c pieces In silver. I'm sticking to silver for now, I think that it has better potential than gold, but that's just my opinion. If your planning to flip the bird at the system then you might need to move planets. It's just not possible here on earth, especially in Australia. Yo never actually "own" your land here, anyone can be forcefully evicted to make way for projects, you'll have to pay rates, or be evicted and have your property sold on your behalf ... then there's registration, fuel, taxes, laws, licences, fees.. and the list goes on and on and on. Best bet is to simply enjoy what freedoms and privileges we have left and work the system in your favor to the best of your ability.
If you are looking at 1kg bars, consider a group like ABC bullion. I know you lose a little when you sell but it is better than keeping those big paper weights at home and easy to off-load when you need to.
Welcome to Silver Stackers Mr. Galt sir. The more who go Galt the better the world will be. Happy stacking. _JOHNLGALT.
Yes I agree but there seem to be more of the Wesley Mouch's and James Taggart's in the world these days
