When you first start out stacking silver, if you are a small buyer, say less than 10ozs a month, it seems to take forever before you get your stack into triple figures (100ozs). However because you are a small player the amount of silver in ozs is more important than special 1ozs coins and for most parts 10ozs bars are frustrating to buy because as you save for your monthly purchase of 10ozs, the price may well jump two or three dollars per oz. Thats why IMO new stackers who have access to a local coin shop, feel better if they can march in and buy 66 fifty cents rounds for around spot plus 10% with no postage involved..$10 state coins are also good buying at around $20. Buying these means that if you are able to afford $100 a week for silver purchases one week and then only $40 the next week, you at least can get some more silver for your stack even if you only have $13 to spare.. That keeps your morale up by knowing that each week your stack is getting bigger and keeps the incentive there. You can always keep your eye out for well priced coins in the 1oz kooks,koala and kangaroos.. If you live in the big city, I think it would be a good idea to go along to SS meetings..Meet SS members and even some traders who have silver at around spot. Postage is the enemy of the small stacker so if you can eliminate that, it means more silver for you. Though sometimes you get a good buy including postage. At least when you are a small stacker, a big price drop is not such a bad thing in the short term because it enables you to bring your cost price average down..Don't measure your silver in fiat $ only in ozs and you will be 300 or 400 ozs stacker in just a couple of years. If you happen to get a windfall, like an unexpected cheque, what a bonus to help you on your way. Sometimes here on SS you read about the 1000ozs club.. This is the ultimate aim of most small stackers but for some it may well be 8 or 10 years down the road..The SS members who are into SMSF will have to buy large amounts and for them it is so important for them to buy at the best prices to protect their future retirement funds. Remember if TSHTF small stackers will be far better off than fiat stackers or thats the way I see it. I'm sure that there are many stories here on SS regarding small stacks and how they got them. Could be some interesting ones? Regards Errol 43 KEEP ON STACKING
Tithing 10% of you wage for stacking is a good way of getting PMs. Regular buys with what fiat you can spare has seen my stack steadily grow. Slow & steady wins the race.
Well as a newbie to stacking l can attest to the OMG l just spent $X and it still doesn't make a dent in my secret hidey hole. But the thing is l know that eventually l will get to 50, 100 1000 oz. I think the thing is to get involved, meet fellow Stackers and eventually l will hit my goal.
Yesterday i saw the 15kg bar...you definitely can fit 6 easily and maybe 10 if it big enough. 15kg bar was as big as the old Motorola handphone.
Yes, 1000 oz will indeed fit into a shoe box! ll hopefully be there by next summer, only 250 more oz to go!
Agree with 1966 50 cent as a good starting point. Even if you overpay it at coin dealer ($15), it still less than what people spend on lunch or cigarette. Postage...its true you want to minimise this cost, but remember plat exp is $14ish and more likely people spend more on f2f (time, petrol, parking). Saying that, f2f will improve your network and exchange ideas with fellow stackers.
Nice post errol43, Clear level headed thinking. As many stackers may only buy 10 ozs a month any saving is great. Postage can be a enemy. However, if your patient many dealers can hold your weekly purchases for a month then post. Most of the time the postage will cost under $10 for those 10 ozs of silver, and it comes with insurance and tracking. Still more cost effective than the drive to a local coin shop if it's further than 5 km's away. Also, keep that receipts of purchases with postage costs, you can claim that postage cost as a expense if your silver makes a capital gain. Alternatively, keep receipts of purchases from the coin shop and log distance traveled in a travel log to from your home to coin shop if you make a capital gain.
Alrighti thenHeres my challenge to all you Shoe box smarty pants..'Try picking that 1000 ounce Shoe box up without tearing or destroying it. Queen to Knight4 REDBACK
Great post Errol. Our first purchase was a just over 1kg of 1oz bars, was to save for a new car. We found it easier to buy silver than to save cash. We always included delivery in the oz price, so 10oz at $35.00 + $10.00 postage gave us $36.00 per oz. Obviously things changed for us a little, but we are still just stackers and understand postage can be a little off putting. We looked hard at this and the SGB buyers club was born. It doesnt matter how much you have or how much you buy each week, take comfort in the fact you are looking out for your future or in many cases the familys future. I do find it quite rewarding helping stackers stack, and some get really cool stuff that I may not normally see! 1oz or 1000oz everyone should be proud of the fact that they are investing for their future, every bit counts, and in the future you can count on it.
Thats one of the beauty's of stacking for me , I get to spend and save at the same time but if I want to spend it again I need to really think about it and make an effort to convert it back to fiat before I can do so, It's like a circuit breaker really. I had really never saved in a big way before in my life before I started stacking. Once the objective target was reached it was gone, now it just keeps growing.
i just chuck it in the safe and dont count how much i have. if i have $$ in the bank then i can afford more
Im on a new program the mrs income covers our living expenses and interest on our line of credit. I then put 75 percent of my earnings into the line of credit and 15-20 in metals. The remaining 5-10 percent goes to the vacation fund. All work and no play makes jack a dull boy.
This is a little off topic, but I already tithe 10% of my wage to my local church. I must say I did think it would be quite amusing if I were to put silver in the offering bucket as it went past
