not much of an income, which to get?

Discussion in 'General Precious Metals Discussion' started by MousePad, Aug 15, 2011.

  1. MousePad

    MousePad New Member

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    since I am still in school and don't produce a large weekly income, at all

    what should I get, Gold or silver?

    Should i buy silver when i get some money?. or should i save and save until i have enough to buy some gold?
     
  2. Guest

    Guest Guest

    Personally I'd say get some silver to begin with.

    I think it's more encouraging to see your stack growing in terms of items at first.

    You would have to save up a heap before you can afford a decent sized piece of gold, but you will get several pieces of silver for less money and it will actually feel like you have a stash and I am sure you will get the bug to buy more when you actually have some nice, shiny coins in your hot little hands.

    Tell you what....if you wish to send me a postal address via PM (private message) I will send you a nice little bit of British silver to get your stash started.

    Whatever you decide...enjoy! :)
     
  3. dccpa

    dccpa Active Member

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    You need to tell us how much spare fiat you have before anyone can really advise you.
     
  4. MousePad

    MousePad New Member

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    Well, I did make a first purchase with some silver (ASE) and a 1/10 AGE.(didnt realize how tiny it would be) 2 weeks ago

    But I do like what you mean about having more of a stash

    I think I just need to work on my patients because when I want something that comes over time, I want it NOW. for example a nice pile of PMs.

    But, you that is really thoughtful but you don't have to do that!
     
  5. MousePad

    MousePad New Member

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    Not much at all, full time student. Just enough to pay the bills and have gas and food money. The spare money I put together to Buy Pms, something of value so I am not tempted to spend it on useless junk I dont need
     
  6. Guest

    Guest Guest

    :lol: I think there are plenty on here that would like a nice pile of PMs RIGHT NOW! :D

    Patience is a virtue but I think it also takes a fair amount of courage, especially when you have a very meagre income, to plow it into something that you can't eat, you can't use for a specific task, you can't (or shouldn't) show off and doesn't really do much more than look shiny and gorgeous. But you have already taken that initial step and I sense that you have already been bitten by the bug. ;)

    Until recently I was also a penniless student with 2 hungry kids and a mortgage to pay as well, so I understand your situation all too well.

    Just try putting a little aside now and then (bit of willpower required) and once you've acrued a bit, reward yourself with a nice little chunk of silver. You will get some bargains on here if you are able to set up a means of payment (such as Paypal) to trade with members and you will certainly be given plenty of advice by the 'old hands' if you simply ask. :)
     
  7. Sargeant Argent

    Sargeant Argent New Member

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    Being that you are in the US I'd look into getting some mexican gold coins the 2 and 2 1/2 peso are really cool (very small smaller than the 1/10 AGE) they have a low premium and are fairly common the 2 peso is just under 1/20 of an oz. And the 2 1/2 is a little over 1/20 of an oz. I was going to buy 2x 2 pesos and 1x 21/2 pesos recently but in Canada we pay gst on them. :(
    You can get them for about 90-100 bucks (2peso) and 110 - 120 bucks (2 1/2 peso) its a good inexpensive way to stack some gold and trhen buy some silver ASE's and Maples and if u buy a little at a time it'll add up pretty quickly in a few years you'll be surprised at what you have.
     
  8. errol43

    errol43 New Member Silver Stacker

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    Could you put up a little sign at school or in the schools newsletter.Wanted to buy silver coins half dollars, quarters dimes prior to 1964. You might be surprised at what comes up..Get to know your silver prices and play fair.

    Have a look up the top of this site for calculators. USA and Aus coins are there with the actual silver weight.

    Anyway best of luck with your stacking.

    Regards Errol43
     
  9. dccpa

    dccpa Active Member

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    The problem with the mexican coins is resale. Easy market for 90% silver, ASEs, etc. For most US citizens, I would stay with the local coins.
     
  10. goldpelican

    goldpelican Administrator Staff Member

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    Sergeant Argent's suggestion of Mexican gold is a good one - it's sheer mental laziness from the fact that they're not even fractionals that drives their low premiums - but at the end of the day it's still gold, and building up a stash of small, liquid gold coins could prove very useful one day. Personally I love the 1/10oz AGE, probably have too many! There's some very good reasons to own small gold coins.

    The other alternative is to stick with silver, and do silver for gold swaps when you've built up enough silver to do a trade. In the states I would stick to 90%, 1oz bars and ASEs/Maples for low premiums.
     
  11. Sargeant Argent

    Sargeant Argent New Member

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    www.coinflation.com has live pricing of US and Canadian junk silver in US dollars. Watch out for morgan dollars lately there's been a bit of premium on them but if you can get them for close to spot go for it.
     
  12. mmm....shiney!

    mmm....shiney! Administrator Staff Member Silver Stacker

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  13. SilverPhoenix

    SilverPhoenix New Member Silver Stacker

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    For the newly fascinated amongst us, would you mind expanding on your thoughts as to the usefulness of small gold coins and the good reasons to own?
     
  14. DonaldTrump

    DonaldTrump New Member

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    If it was my money, and I had the foresight and intelligence as a student to invest, I would squander away the $40ish every week or fortnight, whatever you can handle, and buy once you have enough for four or five 1oz coins.

    If you can find a bullion dealer nearby, maybe buy from them more often and save on freight.

    And well done for being smarter than I was at your age... though that's not much of an accomplishment.
     
  15. RetardedMonkey

    RetardedMonkey Active Member Silver Stacker

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    There's more liquidity about fractional coins as some people just don't have $1700 to go spend on gold each time they want some.
     
  16. SilverPhoenix

    SilverPhoenix New Member Silver Stacker

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    Gotta agree here. I was smart enough to start (back when Aussies could once again buy gold - now that's a while ago now. My first gold oz cost $60, including postage and insurance!). But I wasn't smart enough to continue accumulating and keep it. I've risen from the ashes and I will not stop this time. Nor will I tell anyone else about the stash or where its kept.

    Old rule of thumb: the probability of a secret becoming not a secret is the square of the number of people knowing the "secret"

    Kevin, you keep it up. With all the buy messages everyone is hit by every day and peer pressure, it won't be easy. But you won't regret it further down the track.
     
  17. SilverPhoenix

    SilverPhoenix New Member Silver Stacker

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    Don't I know it :lol:

    Thanks RetardedMonkey.

    I must admit, I was thinking smaller coins would be easier to trade for goods/services where the consuming public had lost complete confidence in the government run economy and had moved over to the non-taxed "black" or "grey" markets.
     
  18. Sargeant Argent

    Sargeant Argent New Member

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    Yeah I've just started purchasing gold in the past 3 months I just buy a small gold coin ( 1/10, 1/4, ducat, half sov etc.) And a few oz.s of silver every chance I get I have 10 gold coins now and a little over an ounce and a half of gold, I usually only have 400 - 500 to spend when I buy pms, I don't have the patience to wait until I can afford a 1 oz. And with the price of gold increasing and buying on the dips, I'm already up about 20 percent. :)
     
  19. MousePad

    MousePad New Member

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    Thank you everyone who posted,

    It helped me a lot and made me realize things I didn't know. and reading the links that were posted help a lot as well.

    I feel that with all this said and with my current amount of income, Silver is my best affordable bet at this point as my main source. and every so often when I have a nice stack. when I am lucky to have some extra cash lying around I will buy some Gold, Winning the lottery would make this process and my life a hell of a lot easier :)

    But I am proud of myself for starting to invest this young..if only the prices weren't so high...But it gets frustrating. when like my older brother, or some friends think its stupid that I am purchasing PMs.Like how its a waste of money and what not, and i try to inform them and they think everything i say is bullshit and the US dollar is where its at.. so at this point I just ignore it and keep on thinking of my next purchase.
     
  20. Sargeant Argent

    Sargeant Argent New Member

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    I know what you mean I've told some of my good friends and none of them have bought any, though I think one of my friends has warmed up to the idea. They think its too expensive and don't appreciate its beauty and value. Don't worry about what your friends say, and probably its best to not tell them you have pms at all. Silvers a good way to start stacking as its still relatively affordable. Try to grab the gold whenever you can afford it and in five ten years time you'll have a substantial amount of wealth to invest in whatever you decide.
     

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