Hi, Whilst aimlessly wondering around the house this morning, hungover, I stumbled across Rich Dad's Advisors: how to invest in gold and silver. I read it for a couple of hours, then started researching. My question is as follows: is now (as in within the next 7 days) a good time to start my stack? Or should I hold off a little longer to see if the spot price drops off a little? I'm quite new to this, but thoroughly intrigued. Especially after scrolling through many pages on this forum. Thanks for any advice you can give!
J-Money// That will be the ? that you will ask yourself many times after you have dipped your toes in the water. Now is as good a time as ever..Take your time, buy some to break the ice..If Silver drops, you always say, I should have waited whilst when it goes up, you say to yourself, I should have bought more. Get started now..He who dares wins! I am sure that you will get a lot of good advice on SS.. Some are here to make $$ while other look at it as away to store wealth and I guess others just like shiny things. Anyway best of luck.. Regards Errol and Welcome to SS
Buy now, learn from mistakes early e.g. paying 10% over spot for a bar, and establish a reputation on this forum. Spend what you can afford and always have cash reserves for unexpected bills/to buy dips when they occur.
depends on why you want silver? me its to keep my cash value in 20 years my $20 note will buy what a doz eggs if i am lucky but the $20 i spent on silver today will buy me what i can buy with $20 today and if i am lucky a bit more. lesson i learned the hard way is to only spend what i can afford to sit on for 20 years because if i need cash in a hurry and spot is on a down turn for a month or 2 then i lose. so pay all the bills buy all the food put fuel in the car and then buy silver or something to that affect
Hey all, thanks for the advice. Think ill take the plunge! Have some spare cash just sitting in an account, seems to be a more interesting (and potentially lucrative) use of it. No doubt ill be on here regularly as I start getting my head around the finer points. Looking forward to it!
Hi J-Money; Welcome aboard. As others have said, I would go for it, but dip the toe as opposed to a swan dive :lol: Here is why Stacking Silver appeals to me; (A) I only started my stack 2 weeks ago and by buying a couple rounds, it sparked my interest and encouraged me to learn. Having some skin in the game may give you a push to read up on the markets / the hobby / broader economics etc which is always a good thing IMHO. (B) Silver stacking seems to be a really multi-faceted thing - from investment, to safe savings, to a hobby, to appreciation of artistic design of some coins, to history of coins, currency, empires etc. Something for everyone. (C) You can meet some cool people. My local dealer is an interesting guy and I have done a trade on the buy, sell swap forum pages with another cool person - fun to meet people with similar ideas and goals in this crazy world. (D) IMHO when the average person (you or me for example) starts getting interested in stacking silver, that is a good sign. I read an estimate like 0.1% of people hold it in their portfolio, so upping that to 1.0% would send the price through the roof alone. So take a punt, cross your fingers for the first mover advantage and have fun. Hot Dogma.
Hi & welcome to the addiction - just keep stacking as and when you can afford it Never borrow money or put yourself in debt to stack Enjoy the ride
Cheers for the comments guys, seems like a v useful/supportive column. I like the hobby aspect of it all as well, think it'll give me another procrastination tool at work too, ha ha. Kicking myself for not listening to a mate of mine during uni (4 years ago) when he told me he was starting to invest in silver!!
Welcome to the forum . Dip your toe for now J-Money, you have found the perfect place to buy from and not get ripped off, check out the site sponsors and member sales threads. Do some research and find your niche (bars, coins, collectables) . Be aware that Silver is volatile and have some patience, a small wait can often save you a few $ an Oz so don't go crazy all at once. BTMFD or----- buy the dips .
Welcome J money.Do some reading on this forum and learn to discern opinion from fact.Start small,maybe a few ounces and see where it goes from there.Enjoy and share.
In addition to the recommendations done so far: Don't spend all your spare cash at once. I spent most of my (little) spare cash when it was at $40, and it was pretty annoying when it dropped from $40 to $30 a few days later. Well. Maybe it's always annoying, as errol43 pointed out but some "averaging" by distributing purchases over a longer period of time may prevent some regrets.
Yeah, have come to that conclusion also Silber. I'm going to keep an eye on the charts over the next week or two before committing to a buy (as opposed to my first thought - to buy a shi*tload on Monday - ha ha).
No don't watch the charts - just go and buy a small amount as soon as possible. It will take a while to figure out what to buy and where to buy from in your given location. Just like buying anything else - you have to find out who the suppliers are, who has the best prices, service etc Just don't start by buying anything you can find on ebay - easy to buy a fake if you don't know what you are looking for
Mmm, maybe I'll just buy a bit less than I was planning at first. I'm looking at buying bars from Ainslie in Brisbane. Will be able to pick it up as well, so no postage. Does anyone have any experience using these guys?
