Hi all I’m new to the forum and stacking, thanks for having me. Just recently started and have a little amount of silver and gold and after much research have decided on a strategy. Will be using silver 1kg cast bars for the base of the stack with some 10z cast bars mixed in and some 1oz coins. Some gold is planned but not just yet. My stack will be at home with me nice and secure in a locked and hidden ammo box. I live north of Sydney, central coast, so looks like the majority of my purchases will be made physically with cash at ABC and KJC in Sydney. I’m doing this as a physical and tangible long term store of wealth for myself and family using spare money after bills are paid rather than the usual crap I buy which is generally just pricey and unnecessary hobbies. Besides the bars I plan to buy certain coins that I find attractive/valuable, these are Silver eagles, silver kangaroos,kookaburras,krugerands,maple leafs,brittanias,philharmonics and ABC eureka rounds, I’ll only buy these when I can find them at good prices as close to spot or with minimum premiums. I’m not interested in proofs or fancy limited editions just bullion. If I never buy any of these coins in bulk because the prices are too high then I can at least have one of each for my own enjoyment. My question is twofold .. Between KJC and ABC I can find all of these coins except the brittania (standard issue not a collectible year) .. where can I physically buy one of these ? And KJC list on their website prices based on 10+ .. can I just walk in there and buy one of each or is there a minimum buy ? Thank you : )
You can use many online bullion dealers or eBay. They all have wide selection and ship international. Many shops should have Brits also. This is a bit of a contradiction in terms. You will typically get closer to spot when you buy coins in rolls of 20 or 25... or even in multiple rolls, boxes, etc. If you buy individual coins or small quantities, you will typically pay more... both in coin price and in shipping per coin. Check out how the bullion sites and eBay sellers price them... usually prices go down as quantity goes up. One way to do it might be mixed lots (on eBay, coin shows and shops, etc), but those are usually only one type of bullion coin (just various years). If you want a mix, it usually costs you stupidly high premium. GL
To my knowledge no one sells current year 2018/2019 silver Britannia's in Australia for some reason. I've been searching for them as I want a few for a coin collection, but have had no luck so far. Regarding KJC minimum buy, i can confirm they will not sell a few different coins to make up 10. It has to be 10 of that specific coin. Though the higher premium coins have a lower minimum buy.
Slyguy thanks for the reply .. my main purchases will be 1kg bars and with coins my plan is to buy only when prices are good and close to spot and then it would be 20+ or more to get maximum value. What I meant with buying 1 is for example abc are selling silver eagles for $28 each .. I would buy 1 just so I have 1 but I wouldn’t buy another one unless the prices were way lower and closer to spot. If I never got another one because I couldn’t find prices closer to spot then so be it
Thanks Leo .. looks like my suspicions were right .. if I’m gonna be buying 10+ I’m gonna have to be sure the prices aren’t better anywhere else .. guess I’ll start with what’s available at abc and go from there .. thanks for the replies guys
G'Day and welcome bijeco. Your strategy sounds similar to mine re what to buy and hold. ABC tends to be the cheapest in the main in Sydney. Keep an eye out for their sales. From time to time ABC sell buy-backs at a decent price. As noted in another thread, I picked up some 1oz silver maples not so long ago for AUD22.00 each v north of AUD24.00 being their sale price on ABC. They were buy back stock but in perfect conditions and tubes. Just have to be watching for these and others to come up. I kick myself for not buying some of the their buy back bars earlier in the year.
Oddjob that sounds like a great deal and exactly the kind of thing I’d jump on !! I’m going to regularly keep an eye out for those kinds of sales
You guys are going to get whacked when T$HTFan, Buying your La-Te-Da coins. If/when the world's currencies collapse because of no intrinsic backing, in a Barter situation you will only get the Gold/Silver contents' value, no premium because they are uncirculated, shiny, pretty, nice design, etc. etc. Sorry, Happy CHRISTmas to all on Silver Stackers & Gold Stackers from _JLG.
Johnlgalt the coins I want will be pure silver and have a currency denomination as well .. not interested in proofs or limited runs .. and if I was concerned about shtf or wrol type situations I’d forget silver and buy more lead and brass
I think you are missing the point JLG....bought for price and low premium ie sale...bonus they were mint condition.
Lol rule 2 .. re rule 1 .. no one knows where I live tho but I understand the point .. plus it would take a while to find my stash with a grumpy staffy and a grumpier owner with a rifle watching someone searching a 1/4 acre block ;p
Dam ! Was planning on going to abc tmrw while I’m in Sydney for family Christmas but they’re closed til after New Years ! Anyways thanks for all the input and help guys .. have a great Christmas all
Hardly anyone owns silver, so it won't be that useful in a collapse. It certainly won't replace money given that almost no one has any. When Puerto Rico lost electricity, cash was king, not silver. More useful than a PM in a crisis would be good barter goods like clean water, food, pharmaceuticals, medical supplies, fuel, candles, ammunition, etc. And the Iraqi Swiss dinar was remarkably resilient after the official Iraqi currency collapsed. See economist George Selgin's paper on synthetic commodity money.
Welcome to the forum! Your strategy is very similar to mine. Only difference is I keep my stack in a private SDB.
Skyrocket I take it sdb is safety deposit box ? Makes sense but I assume that’s only economical if you already have a decent quantity to justify the storage costs ? It’s very early days for me at the moment so my collection consists of very little at the moment
Yes that is what it stands for. I did that too when I first started stacking. I kept it at home until the size warranted getting a SDB. Now I just keep a 1 ounce silver coin beside my bedside table to play with each night.
BTW, avoid a bank SDB. If a bank went belly up, there is discussion that SDB's could form part of the bank's assets and get bundled into any assets of the bank. Looks for a private SDB provider when the SDB are held in trust for you, so if the SBD provider went bust, a liquidator can't touch the boxes or contents.
That’s one thing I worry about re a bank and private sdb .. going bust seized etc .. I’m sure it’s a low risk tho .. I’ll see if there’s any local for the future when and if needed .. cheers guys
Not sure if anyone does this but I’ve bought a notebook and whenever I buy some I write down the date and size of the purchase as well as what the spot price was at time of purchase .. Kind of a way to keep track of my spending in relation to accumulated wealth/loss and how much/little premium I’m paying ..anyone else keep a log ?