Well its obvious that Fiat currency is on life support so I'm getting out of dollars and shares and into silver. Only I'm having a hard time finding the answers to a few simple questions, 1. I have a long term plan. Is bullion best for this? 2. Being in Melbourne, is ABC the best to buy from or should I be going to Perth Mint or Ainslie Bullion...or else where? 3. Storage? At home or with Guardian? 4. If storing at home whats the deal, a safe, bury it, stick it in my kids nappie? 5. Selling. How, where, when? Any help would be greatly appreciated. I want to start 'stacking' asap! Cheers.
Research is the key. The more you study, the better understanding you will have. 1) Everyone has their own outlook, being a SS site we are very bullish for the shinny stuff. Long term 10 years? the cycle is due to run out by 2020 if you follow the charts. Most of us are either using bullion as a store of wealth, or as a slingshot to something else. Property! etc 2) Silver is Silver and is starting to become hard to get the physical stuff. Perth have nice bars though. 3) Vaults in the city? banks have deposit boxes but not many of us trust those wise guys. Otherwise bury it in the yard (Pipe with capping) or anywhere someone wont look. 5) Selling will be a far bigger and harder decision then buying. Buying is the easy part research will mean the difference between making A LOT or making a average return. Study Up I hope this helps a bit. I advise Mike Malooney's Silver book as a great starter
Welcome Ooze... Lot of posts to read and educate your self on...go and explore 1. I have a long term plan. Is bullion best for this? Wrong person to ask but IMHO YES bias to Silver but think fellow Gold bugs will do very well...this age and investment horizon (i.e how long is long?) has to fine tune your decisions from here... 2. Being in Melbourne, is ABC the best to buy from or should I be going to Perth Mint or Ainslie Bullion...or else where? 3. Storage? At home or with Guardian? Personally have spread in various locations...as with all investments,diversification is key...think the same for storage of bullion. 4. If storing at home whats the deal, a safe, bury it, stick it in my kids nappie? What feels safe to you...buried in the backyard isn't out of the question either? 5. Selling. How, where, when? Fleabay, Silver Stacker's,Bullion dealers, Jewelery shops etc,etc...who's in the biggest need for what your selling might help with 'How and where'...'when' is only a question for you to answer...for me when you need to...otherwise hang on and I'll post when I've sold out...
Welcome and 3 tips 1) Research 2) Research 3) Research And first up avoid "bargain" silver at all costs just pay fair value
MatrixOpals - whats wrong in buying bargains my Bargains was 18 months ago...but has not stopped me...
Start here -> http://forums.silverstackers.com/topic-880-buying-silver-in-australia.html Regarding storage, in the current environment I'm a big fan of safe deposit boxes, both bank and private. Far far far more likely to lose bullion from casual or targeted theft at home than from a safe deposit at this point in time - future economic events may change this thinking for Australia.
Welcome buddy~ This is the great site! I have also just started not long ago. I started when it was about $40-45. So good on you ! The following answered solely based on my opinion only. 1. Bullion grade is best for investment and trading too. Although they are few trading with non-bullion grades, they still contain silver. Can try a mix of coins and bars. I started with bars, and trying to increase my silver coins (Florins, Crown, Shillings) collection. 2. It depends whether you willing to pay for premium. Some people treat them as silver, some prefer the brand. Captain Kook has some really nice pretty bars (SBA) I seen today! You can also try to look for bargain in PAMP, Perth Mint, Ainslie. 3. Although not encourage, I store them at home in my safe. I bought quite a bit of plastic container filled with bubble wrap that placed with silica gel . Put the silver bars inside then keep in the safe with more silica gel. Just make sure it isn't too eye catchy. Some of the SS here did store them in vaults. 4. Is brainstorming time! 5. Here on SS. There are some really big players around here. Good deals will gone in 5 minutes or less. eBay is good, if you can handle much with the paypal transaction fees and final value fees. I don't. Some local shops do offer buy backs, but often offered less than spot, at least to my knowledge. Good luck and have fun!
3. I split my stack - some with Guardian vault and some hidden somewhere (area 51 maybe? The vault at Guardian are very very hi-tech I can tell you. If you are thinking of using a vault, best not to use a bank vault. If there is a run on the bank, you probably won't be able to access your vault...
Thanks to all who have contributed so far. I will be grabbing Mike Maloney's book as recommended. Hoping to make my first purchases this week. Will certainly diversify my storage. Any other recommendations would be greatly appreciated. Certainly seems to be a great forum, I've been reading on and off for a few days which has been most helpful. Thanks
Take everything with a grain of salt. Especially from people who sell silver. Dont go all in at any point, buy only what u can afford to lose. If you have not bought any yet I would buy a little bit if it dips below $33 US then wait until June 30 and see what happens, if it goes below $30 US during that time I would buy a bit more. Right now im trying to balance my stack by adding some more gold which wouldnt be a bad idea to buy if your starting to stack PM's. Personally I would keep it at home i feel better knowing i can access it whenever i like and can have a look at my stash every now and then but it comes down to personal preference. A inground safe or something like that is your best bet, some people like splitting their stash into 2 or 3 and hide them around the house. Try not to buy on impulse, ive done this in the past an regret it aka buying at the wrong time so now my average $ per ounce is higher than what i would like. As for selling, it is definitely harder then buying as someone else said but at the end of the day if you made a profit and are able to buy more ounces for less later then youve won. Picking a top is very hard but on parabolic moves like the big one we saw recently it isnt a bad idea to slowly sell little bits off when everyone is in a buying mania. Or if you hear them talk about buying silver on the news sell it lol hope that helped
Anyone can have all the bargain HGE, 100mils, german silver they want, but the old addage holds "if it looks to good to be true, it IS".
Ainslie Bullion in Qld quoted me $1134 for 1kg of silver with about a $950 buy back. Seems like a good deal for them? Is this the usual for such companies? PM was selling 1kg for $1079, seems a fair difference. Why so?
