Hello all. This is my first post here and it won't be my last. But I promise future posts will not be as long and tedious. Just beginning to invest in silver. In the past couple weeks I've purchased the following from Provident Metals: 10 oz NTR bar 1 oz NTR Buffalo 5 oz misc bar-not yet received 1 oz Golden State Mint Buffalo-not yet received 1 oz Canadian Maple-not yet received 10 lb copper bar (just for the heck of it--makes a GREAT paperweight!) At this point I'm exploring to see which direction I'd like to go. For the next couple months I plan to buy several different styles and sizes just to get an idea of what's out there and what feels "right" for me. NTR 10 oz bar and NTR Buffalo were first purchases. Next was the Golden State Buffalo, mainly to compare to the NTR one, the Maple to own a "real" coin as opposed to a round, and the misc 5 oz bar because the price was nice. I tend to subscribe to the "silver is silver" philosophy. Seems like buying low premium bars is the best bang for the buck for the long term, as my plan is to stack in a safe for the next 20-25 years until retirement. I make a decent wage and have very little debt. Can probably spend around $200 a month on PMs. Current thinking is a 5oz bar and a 1oz bar or round per month. Or maybe a 10 oz bar and one or two 1oz bars or rounds every two months. As I write this spot for silver is around $31. With shipping my cost is approx $34-35/oz for the lower premium items providing the purchase is around $200. Also may skip some months to save for a small quantity gold/platinum/palladium purchase, but silver will be 99.99% of my stacking. Why silver? I am a trauma nurse, and see everyday the consequences of antibiotic resistant bacteria. We have begun using silver impregnated dressings and central line catheters on a limited basis and the results have been quite favorable. This leads me to believe that there is growth potential for the use of silver in healthcare. Also I believe industrial use will increase with electronics, solar power, etc. I see a few nice coins in my future, too. Just not many. Will always be open to anything that catches my eye. If anyone wants to sell me a 2008 Kook under spot with free shipping... I respect those that invest in quality coins for the collector value. A good way to invest, but I find my brain doesn't work that way. Too much to think about. Personally I'd rather stack some basic silver for the spot price. Not a SHTF believer, but who knows? Anything is possible. I think that in a Mad Max world nobody will care that my ASE is uncirculated in a nice plastic case and has a face value of $1. After all, there will be no government to guarantee that face value. It will be worth 1oz of silver just like the generic round that had a much smaller premium. So I guess my first question for the group is this: How does the following sound for a long term stack? This is what I'd like to have in my safe. I know some here say that larger bars are not a wise purchase, and I understand their concerns. But I figure that if people have over $1600 to purchase an oz of gold today they will have over $1600 to purchase a kg of silver in 20 years. 100 oz bar x 1--Just a dream, but sure would be nice to hold! 1 kg bar x 3--Again, just dreaming at this point. Without the large bars, this is the ratio I've come up with. This is just on a whim, no real thought went into it. 10 oz bars 50% 5 oz bars 25% 1 oz bars 10% 1 oz rounds 10% 1 oz coins 5% small amount gold small amount platinum small amount palladium small amount copper for fun Please criticize, add opinions, offer advise, etc. And sorry for such a log post! Thanks--Bill
Welcome Itin..Hope you enjoy the SS site. Interesting on your comments on silver applications in regards to health. The Romans used to drop a silver coin in their water containers to keep it clear of bacteria, With regard to your future silver purchases you will no doubt get many different opinions..My opinion is buy anything silver as long as it is spot or close to it say plus 5/10%. Best of luck building your stack. Regards Errol 43
welcome! im not expert but Id say theres no right way of going about it and it all comes down to your preferences. smaller coins and bars have higher premium but are more liquid. Larger bars have lower premium but bit harder to shift.. Having some gold + other metals is a good idea too edit: spelling
Welcome mate and dont forget to take a look at the site sponsers section and check out there range of Gold and Silver, its great to shop around before you buy well i do anyway
welcome Itin.It seems that you have a good plan going for you.Keep stacking that way and before you know it you will be sitting on a large stack of silver.You are doing well for yourself.
welcome aboard. There was talk of having silver threads in the hospital pyjamas to combat MRSA and other microbes. Just talk but it is one possible direction. Your generic silver bars will only really ever be worth spot, so in 25 years they will buy you about the same as they will buy you today unless silver really is manipulated and it suddenly "goes to da moon". A great way of preserving wealth of course. Getting the odd coin at a decent premium now, by the time you come to sell it will be a 20-25 year old coin and may be more collectible than a modern version of the same coin. No need to rush into it though, when I joined the forums everyone was talking about Andean Cats as if they were the second coming, they are still popular but the prices have come down a bit. If you decide to get some coins try and get one of each in a series, at the end of the collection you will have some full sets and they can be easier to sell. Plus if you buy them on release they are often cheaper than trying to go backwards to get earlier editions. Enjoy
Hi itin, As a fellow noob I asked a similar question, and got some really interesting answers that made me think alot about where I want to take this. http://forums.silverstackers.com/topic-25528-structuring-your-stack.html Makes for good reading and it's interesting to see some of the different opinions.
seems you have a good method to your future purchases. id go with it and buy what you think is a good buy.
Hello Itin, I love your fresh enthusiasm it is a welcomed addition to this forum. I totally agree on the new health benefits being created in the medical field using silver, Your plan sounds good to me Have fun.
Wow, made a first post and never returned with a follow up...been busy with work and reading all 17 million threads on SS... Thanks for the welcomes and the comments on my plan. In the past couple weeks I've gone a bit overboard with silver purchases. 51 oz to be exact. For me that's extreme, considering I originally planned to purchase around $200 a month. But hey, it's been fun obtaining different sizes of bars and a some coins to explore where I'd like to go in the future. I've gotten 8 coins and the rest in bars and a couple rounds. Think I've confirmed my original plan to go mostly bars. Thus far I've averaged about $32.75/oz with shipping and a couple credit card premiums. Pretty content with that. Fun to watch this in the beginning of my quest, but I'm sure it will become less interesting as the stack grows. Will post some specific questions/comments in some new threads in the future. Better wrap this post up before shiney makes fun of Ladybird again. I might want some British silver someday! Happy Stacking, Bill
Hey Bill, That was a long first post but it look like you have thought it through and understand the concept and investment of silver in particular. Looking at my post I'm a newbie here too, lol, anyway I been into stacking silver for two years, and at the start you can get carry away because of the opportunity it bring in protecting your wealth in the coming future. Like everyone will have 1000 ways to invest, the right way is the one you can sleep at night, different people have different tolerant of risk, and holding period. So I would say when I was new to the scene, I create a wish list, and got the one closest to spot price and when you have a core stack, may you think it 100oz, 200, or 500oz then u can move into higher premium silver, such as Perth mint collectable or past year of kook, panda or Ngc graded coins. I hope that help abit. See ya
