I am just getting started into buying silver for the first time. I have budgeted on an allocation of approx 400 ounces in silver to start off with and I would be interested to hear some opinion on what type of silver / denomination / ratio of Bullion to coins / based on this allocation size and the reasons behind your suggestion. Ps: I have made a start and have purchase 10 x 10 oz Silver Perth mint stacker bars. Thak you for your comments
IMO stick to coins 2, 5 and 10 oz dragons @ issue price will stand you in good stead. Why? cause counterfeiting will take off when silver prices takes off
Welcome to the game... my advice is don't get too attached to it if you are investing as opposed to collecting. Do a search for what type of silver to buy as a newbie. This topic has been addressed a million times to the absolute death. Everyone has a different opinion and each is backed by a good rationale for doing so. Do your research (search the forums here is a good start) and go with what feels good for you. At the end of the day, no one knows if kookaburras will be forged in times to come (poorly or otherwise)..who knows what new technology may be around that allows crooks to get away with stuff that was once thought impossible. Your stack won't stay stagnant, you'll find yourself trading and selling at different points and maybe even playing the GSR (if others are willing to play, that is I'v always liked aussie silver. Captain kookaburra has been getting silverstackers branded bars made.. so Id get some of those! Pm him and ask when the next batch will be ready. Chances are by then, silver will be about $20 an oz with the current trend! lol
Hi and welcome! I'm just getting started too ... some coins in lower denominations for "liquidity and portability" might be good (this is what I did - using 1oz Kookaburras). Then 10 oz bars and 1Kg bars (to minimize the effect of premium over spot and to do my best to get "bang for the buck") Split your purchases over a few tranches and make a quick decision when you see a short term dip - just to avoid blowing it ALL on one purchase then finding the next day, you could have had a few more ounces by waiting. This has made a big difference for me since mid-Nov as the prices have been falling. More than anything, "advice" from anyone here will depend on the "why are you getting into precious metals" to be of use to you, ie long-term inflation hedge; protection from crazy economics; possible hyperinflation bet; short term bull market profiteering (if/when that happens); retirement; SMSF; family legacy etc. And read a lot ... here ... then more ... I read all the new silver & gold posts every day and it's REALLY helped. Mike Maloney says in his book that the world of precious metal investing contains more than a few conspiracy theorists and kooks ... so apply some good logic and rationale to anything you read and try to develop your knowledge base. I believe that the long term view for both silver and gold is fundamentally still what was espoused in the last 2-3 years ie we are still in the very beginnings of a bull market (I'm buying both to hedge each other if you like. Gold doesn't seem to need such a strong stomach either haha). As soon as the general financial media start RECOMMENDING precious metals and your neighbors are giving away "tips for buying silver" ... then for me, that's a strong signal to asset swap! HTH! Oh ... ask lots of questions here. Even "newbies" like me might be able to help
I highly recommend the following thread: http://forums.silverstackers.com/topic-14520-i-have-x000-what-should-i-buy.html
So true ... not the prettiest on the planet are they ... my "stack" falls over a lot (before the boating incident anyway).
Spend some time on silverstackers searching for the 500 posts that have already been used answering this exact question. And welcome
Welcome to both the forum and more importantly to the world of physical silver. Ratio of bullion to coins ?! IMO You could categorise your purchases of silver in the premium/discount to spot tranches as well. ie. Lower than SPOT : rare to find in coin or bar form, things like silver cutlery and general silver scrap SPOT + 5 % : Generic Bars , Large orders, Silver rounds SPOT +10 % : Cheapest coins ( Maples, Eagles , etc ) , bars SPOT +25% : Most 1 oz Coins, any 10 oz bars 25% and higher : slowly going into numismatics. Have some of each. Think about why some silver is cheaper or more expensive than other. also, If you are thinking about doing trades ( silver for silver ), think about if you are giving up X oz of 5% silver for X oz of 10% silver. or vice versa ! If you have bought something that cost 5% premium to spot - chances are that it will always remain in that tranche. Also, if you are faced with swaps for other metals make sure that you properly 'calibrate' the ratios on both metals. ie. Gold coins in general have a lower Premium over spot than silver coins. ie ( if GSR is 55, than giving up 55 oz of silver for 1 oz of gold ( assuming neither side is numismatic ) will be a losing trade for the silver seller ) If you are offering 10 Kookaburras for something and the other party asks for 11 Kookaburras, than remember there are 50 Cent pieces that can help in the transaction.
BIG ZIG ZAG SAW PUZZLE, so its a bunch of silver porn thinking aloud someone prefer their bars naked. its all in the mind :heheh thatguy wispered takes off THUCY likes to get physical, .. renovator have seen them all, like a bunch of drunken sailors that do not stack Robert.S agreed ...not the prettiest on the planet mentioned his observation... do you still dare to get started on Naked physical silver?
Silver investing/collecting is a great thing as it becomes like a bank for yourself and changes the way you interact with money.It is safe and secure and not easily parted with,it is the best thing a person can do in an economic sense. It can become a thing that can last a life time.
If you Increase your allocation to 500 ozt you can buy a Monster Box of 500 x 1oz bullion coins. American Silver Eagles or Canadian Maples. Edit: Justification - coins are more liquid than bars. I used to contend that bars were the only way to go because a lower premium meant more silver for your dough. . . but the premiums are lower on these coins than Perth Mint Kookaburras and probably not far off their bars when buying in bulk with a monster box.
