The coin dealers at my local market buy bags of coins, split them up and then sell the coins individually. A $2 coloured coin will easily sell for $5. There are many collectors who don't want to buy a whole bag of coins if they just need one for their collection. Not all coins are available this way. The coin rolls are now being sold as collector items in their own right, so bags are the cheapest way of getting hold of the uncirculated coins now. You can go to the Royal Australian Mint online shop https://eshop.ramint.gov.au/New-Releases/0.aspx See what they have for face value, currently these items are being sold in a bag for face value. You could buy up to three of each pack before you hit the limit and then you pay $10 postage. Now you just have to find a whole load of other people who want to buy individual coins. The 50 cent coins usually go for 2.50 to $3 and the $1 coins are about $4. Check eBay to see what sort of prices people are paying.
My advice would be take everthing you read on the net with a grain of salt. Jislizard above would be an example as this seasoned stacker has given wrong dates for silver that could cost big bucks. 1920 UK silver is 50% silver IT IS 1919 and earlier with .925% silver content.
Thanks for the catch Gullintanni, have edited orignal post with your correction. I have some UK pre dec but not much so that is one area I am not so seasoned in, always good to double check. I remember making a similar mistake on New Zealand predecimal coins back in the day.
I am glad you took it they way it was meant Jislizard. I rewrote it 3 or so times because it was making me sound a bit wanky and that was not my intention. Even us seasoned boys and girls can mis-speak at times and it was a great way to make a point as i am 100% certain that you actually new the correct dates. There are some out there that will look to take advantage of these new stackers with BS and telling half stories (like i brought into when i started) and with any luck we can save a few of them before they to indoctrinated by the Maloneys and SChiff's.
"with any luck we can save a few of them before they to indoctrinated by the Maloneys and SChiff's." I wouldn't worry about trying to save anyone from MIKE & PETER, they are two of the best guys to listen to. Just because their message hasn't come to pass doesn't mean their message is wrong. CHEERS. _JOHNLGALT.
This has been the best beginner advice I've seen yet. I'm new as well and your advice of just have fun and buy what you like and I'll eventually get a feel for things is exactly what I needed to hear. Thanks!
Lets see if you feel the same in 10 years time. Of course if you follow them and do the opposite to what they suggest your portfolio will be looking pretty good.
Junk silver, pre-65, 90% can be confusing for beginners, there is .715 oz of silver in each $1 face value, so in each 10 dimes, or 4 quarters, or 2 half dollars. I think I would start with 1 oz either rounds or coins, always buy bullion (meaning brilliant/uncirculated) low premiums over spot. Take a look here this company is a bullion office and does not deal in collectibles, numismatics, proofs, etc. items that carry high premiums.
Always look for something with a low premium, stick with bullion (rounds, bars, or coins) they will carry much lower premiums than collectible/numismatics/proofs/etc. You can end up spending 30% or more on premium vs. the metal if you get talked into high premium items. Sometimes companies will be running promos, keep an eye out for that. You will pay a little higher premium on bullion coins vs. bars or rounds, but if selling them back, you will get more for a coin. So the buy/sell spread is about the same. The most important thing is you understand the importance of investing in a tangible/real asset, like precious metals. That is the most important thing.
One suggestion I like to make to new stackers is to take advantage of the Silver at Spot offers that most of the big online dealers have for new customers. Usually they are for generic rounds or bars but we (BOLD Precious Metals) have a variety of Welcome Packs to choose from that contain up to 5 ounces of premium government-issued bullion coins. If you take advantage of all these offers you can find, it will help jumpstart your stack!
There are approx. 7.5 billion people on the planet. There is approx, 8 billion ounces of GOLD above ground. There is approx, 2 billion ounces of SILVER above ground. Making Silver 4 times more valuable than Gold. Do the maff.
Hey Rhys, I'm new to stacking too but have a long love for silver in any form. "For me" I started out with collecting silver eagles "bullion", but the premiums started to give me second thoughts after a couple purchases. So I started a new stacking goal and "for me" I decided on an achievable goal of 50oz in silver bars, I decided after much reading on the sunshine mint silver eagle bar. The choice mainly based upon it's a reputable, well name recognized mint. Combined with the low premium over spot of $0.79 over spot advertising from JM bullion. I'm only on my 3rd bar out of 5 but for me, never felt better about my stacking status.
When it comes to stacking precious metals, i been in all kind stuff. Enough for an average young stacker but never had an experience in profiting from my stack because i am not active on it. Probably in the future, however preservation is my main objective. Once you enter on it expect it as a long game. All of PM investment will varies from one person to another because we do not have the same parameters in life or country of living. I always consider myself to be happy, blessed and no stress created on these matter.
I am new as well, just started stacking a month ago. I am a weight stacker so to me, silver is silver, and try to buy as close to spot as I can. I just watch APMEX, JD Bullion, and SD Bullion sites and buy what ever "random" 1 oz bar deal they are running, usually 10 bars at a time. Twice I have bought a 10 oz bar that was either at spot and one that was a few cents over spot. For me, shipping and PayPal premiums are the killers but at least they are constant costs. All in all, I can't see 10 shiny premium bars or rounds when I can get 11 or even 12 secondary market for the same price.
