Hey everyone , I am looking to Invest in silver bullion bars, however I am very new to the precious metal game and I am seeking some sound advice from people that have had experience with the trade process. My Current situation is that i have $10 000 AUD and I am looking to invest that in precious metal. The reason why I am choosing bars over coins is because you get more bang for your buck per OZ and I am wanting to increase my profit margin as much as possible. My Questions are Which mint to purchase my bars from and what size bars should I invest in. Should those bars be cast bullion bars or should they be minted bullion bars.? (keeping in mind that it is purely for investment purpose not collect ability) who will I sell my bars to once I am ready to turn my precious metal into cash. ( I am currently living in Brisbane ) Or on the flip side i have also considered the PERTH MINT CERTIFICATE PROGRAM (PMCP) But then rises a whole new set of questions. which type of allocation should i invest in Allocated Allocated Pool Un Allocated From what information i have gathered on the program that is that Allocated has more substance and piece of mind because you have physical asset but you in incur storage fees and fabrication fees, pool allocated is ownership of precious metals in a pool with the perth mints other clients. (however if one wants to take physical delivery it will cost a fabrication fee of 50% of the applicable bar.) Unallocated (un-segregated) Bullion You have title to precious metal deposited in a storage account. You pay only the precious metal cost at the time of your purchase. You pay No storage fees on this option. Unallocated metal shall be converted to Allocated metal within ten days of your instructions to do so (fabrication fees apply should you wish to convert from Unallocated to Allocated) Account Opening Minimun: $10 000 USD Certificate Fee: $50 AUS (for Australia / New Zealand ) Transaction fees incurred by dealer in my case the closest one to me would be Jaggards in Sydney Transction minimum for all buys and sells: $5000 I am just trying to build the best investment strategy, what i want is to have precious metal either on paper or as a physical asset, so when it comes time to turn it into cash i can do so in an efficient and timely manner. Thank you in advance for any feedback. Kind Regards. Silversun.
Welcome Silversun. "I am just trying to build the best investment strategy, what i want is to have precious metal either on paper or as a physical asset, so when it comes time to turn it into cash i can do so in an efficient and timely manner." Can I suggest that if this is your primary goal - "when it comes time to turn it into cash i can do so in an efficient and timely manner" - you look at the Perth Mint program. Much better liquidity than owning bars/coins yourself. Others have different goals, e.g. physical ownership of the metal. The answer would be different in such cases. Good luck.
Whatever is the best bang for buck at the time. Different dealer and suppliers have different deal's. Same deal for size. If I said 20oz (for example) but you could get 2 x 10oz same price then buy the 10oz - smaller size without inuring the barring cost (manufacture cost) Here for one and offer postage if not F2F or Ainslie Bullion in the city - https://www.ainsliebullion.com.au/ - if you want instant cash. Also some periodic cheap deals from Brian - get to know him Don't like paper silver but do think this would be ok - if you are only after the cash, (WA Goverment backed , further by Australian Gov and Lloyds of London) then fine in my opinion. Are you sure un allocated is still available? I thought I brought on the last day with my SMSF before closing around March/April - here's a forum link relating http://forums.silverstackers.com/topic-7531-perth-mint-to-close-unallocated-silver.html - check this before getting too excited. Think your paying storage costs (% of metal value to cover insurance) regardless. Member here called bron suchecki can help. Personally suggest multiple locations and multiple strategies. Start a Perth Program, the stack physical at home, then move to storage,etc Basically get started and strengthen each 'position' suitable to your situation. Not sure your appetite but stocks with miners are also another option Welcome abroad and might see you at the next Brissy meeting if the Doctor gets something going
Yeah sure Who are you again Just send me your account details And I'll send you all my $ MACH again me thinks :lol:
Do not anger Mach he is a big man - I can't remember the rest of his babble but he's like a multi millionaire and stuff and you know so clever that NO ONE else understands him. edit: As an aside probably best not to buy/store metals with someone with a gmail account
hey silversun im just like you and took the road to silver bar investing. I hope i can offer some advice on my first time purchases I bought with a budget of $4000 this: 3x 1kg bars 2x 10oz bars I plan to hold these for many years as financially for me i don't intend to make big purchases and as a uni student im more focused on my studies (plus i still live at home ) so my cost of living is covered I plan to buy more when I can and when silver drops. Im not accommodating my spending habit on the market but when my finances will accommodate another purchase.
The Perth Mint program is worthless when the zombie apocalypse hits! In all seriousness - I would like to throw into the mix to take your comfort level into consideration. Initially I had all my investments in cyber money (e.g. Roth, 401k, ect) and thought "wow, that can all be wiped out if Skynet does a reboot". So I'm slowly converting most of it to tangible investments. I like the idea of converting a paper money of the current empire into something I know has been used as currency since pre-Roman. It's a comfort level thing. Something to consider.
Hey guys thanks for the feed back, Really helpful. my only concern is when you hold the physical asset that you won't be able to sell it as quickly as you want, and miss the boat. If you are just holding bars when you go to sell it who will buy it and are the mints obligated to buy your silver. how does this all work? How ever with paper it has a high liquidity and is a program with the Perth Mint that is Backed by Government Bodies. I am just seeking a way to get more out of my money. What is some peoples strategies for selling there silver deposits? Does anyone have a plan of action in place already for when they need to sell.?
Physical bars and coins are probably a lot more liquid, a lot easier to sell than you think. How's this for your action plan: post a message here and say "Hey guys I've got silver @ spot!" and BOOM it's gone! One posting and you solve your liquidity issues instantly and as a bonus, you make a SS member very happy! Everyone's a winner!
In theory it's a great plan ie selling to the converted. However, it is always good to have a backup plan just in case.
What Silver Somchai said is right on the button. Also, if you know a Local or within country silver dealer/broker, you can call them up and see if they want to buy what your selling to lock in the price at that time. Then its a pack/ship/confirm receivables, then they send you a check or electronic deposit. It's easy. You should try both methods and see what you think, then make it work for you.
^ what rodrigo said. I bought my bars at Ainslies (brisbane) thats near jade buddah on the riverside. friendly bunch but that place is like fort knox. Call them and say you want to offload some metal and agree on a price. done.
Get lost - Too many people already doing it - No money in it - just pain & anguish & destitution lie ahead - honestly... Try accountancy instead. x
Agreed. Who would you sell to, if you have mis-timed the market, and there has been a blow-off, and FEAR is running in the streets amongst both the converted and the unconverted. You have advertised bars for sale on SS, but even blind freddy can see your silver is losing value by the minute, as the spot price continues to crash, day in & day out. Why should they buy your silver, when the spot price is near-100% guaranteed to be cheaper in 60 mins time, in 24 hrs time, and in 1 weeks time. There was another post on SS the other day about how someone went into a bullion dealers to BUY, and they were quoted at one price, but as spot moved up by the time it came to print the receipt, they were charged at the higher price. We all know that bullion dealers shut shop when prices crash, because they do not want to SELL. These guys are not fools... if they see that the market has blown and expect prices to fall like a stone into the depths, why on earth would they pay you spot? They're not going to catch a falling knife.
Let me see if I understand this... 1: we are Silver Stackers, clever, and we know something about how the market works 2: there has been a major blowoff, and we are just passing the "return to normal" phase 3: major fear is now starting to run in the streets amongst both the converted and the unconverted now, 4: the clever Silver Stacker unloads his entire stash on some bullion dealer (average joe is frightened out of his wits, so he'll never buy) 5: the poor bullion dealer goes down the elevator of capitulation and despair is this the plan? in a MAJOR SUPER CRASH which none of us have ever lived through before?
... people like to pass on premiums though... also Silversun, remember not to be greedy... WAY MORE people have been burned and lost money waiting for the peak.. only to see it become a past event. If you want 'cash' when silver really hits its peak.. it's going to have a USED BY date on it (1924 Germany anyone???). If you want it to hold value, make sure you can HOLD IT! If you are using silver as some sort of maximising profits (in the scheme of things $4000 isn't going to turn into 1000 oz gold), then maybe playing in the stock market is more for you. I'd say if you're going to hold it for years and years (decades) to come, buy physical and never talk about where you may or may not have it (loose lips sink ships).
Read read read read read, is the best advice as another fellow newbie I can give you. I did the same thing you did, and although this forum is an amazing source of info and advice, you really have to evaluate what is best for your personal situation. The same way that some ppl like stacking bars, some like stacking coins, some like a mixture of gold and silver, some like the bigger kilos and +, etc etc - at the end of the day you have to think about things like external to home or internal storage, weight and ease of movement of your stack (ie, do you move around a lot, is this something you will carry with you or bury in the yard etc) how long will you keep it etc, the list goes on and on.\ Where my other half likes the kilo bars, I like to have a few smaller ones like 10 oz'ers at my disposal. You never know if you may need it. Also look at the price you are willing to pay. Sometimes, most times, coins (bullion) have a higher premium than the bigger bars, but often times the bigger bars, although with lesser premium can be trickier to re-sell. There is a lot to think about and analyze as you start your precious metals journey, and I think you really have to make a personal decision about how you want your investment to work for you. Good luck - and keep asking questions and keep reading because there is always something new to learn about PMs. And welcome!
