Hi, I am brand new to silver stacking and am about to invest my 10,000 in cash I have saved up into silver, I was just wondering what you experienced stackers think I should buy, bars or coins. I am looking in the long term and I am not concerned in short term returns. Any advice would be greatly appreciated. Cheers.
Hi mate welcome. Personally I'd get the cheapest silver bars you can find in order to get as many ounces humanly possible from your 10k. ...when I was a noob I stupidly bought too many coins for too much over spot price
$10k buys a lot of bullion.. Think about how you will store it, and if you self-store then make sure not to go telling the world about it. Maybe some more experienced members here could give you tips on that; I don't know first hand.
In 2011 some people were happy to find silver at $3 over spot when spot was $45. Spot is a bad directive. Pick some coins/bars you like, and of which you notice others like them too. Then buy those. A $28 spot + $4 gives you more silver than a $35 spot + $2. Think about that when looking for the cheapest dealer while ignoring spot.
The best form of silver to buy is going to be large bars (1kG) as they are closer to the total spot price. You can find bars going for near spot in the for sale section of these forums. I've only had the best dealings with people. If you buy now you'd get roughly 10KG of silver. Personally I'm waiting until the price drifts lower again until I buy in large quantates.
Hey, and welcome to "the club" as it were A few random thoughts I have for you to consider. Personally, I would ask yourself, first and foremost, to identify the reason(s) you want to stack some silver. Do you stack in case SHTF? If so, holding all your silver in large bars, with the potential to need to trade for items, may prove a hindrance. Do you stack with the idea in mind that potentially you will swap out your position in years to come for whatever currency may be used? If so, you will want easily recognisable, easily tradable manufacturers in your stack, and considering you live in Australia (or wherever it may be), you may want to predominantly stack metals from a local, or well recognised supplier. Are you adamant that all you want is silver? Silver is potentially a highly manipulated market, subject to wild swings at times in both directions, and thus I would have to ask, can you handle "the ride" (not saying you can't, but it comes down to each individual person as to what is acceptable to them)? Would you consider also holding some gold as well as silver (then for it, also refer to the questions above). I think - once you work out WHY you're stacking some silver, the answers as to WHAT to stack will be much clearer to you.
The #1 absolute fail proof way to own silver that provides the best liquidity and and easy way to sell off small amounts if silver goes parabolic is American Silver Eagles. A roll of Silver Eagles (or a single) is a no hesitation dealer purchase anywhere on the planet. Before I get bashed with "cost above" spot I can show were I can get very close to your generic 1 oz bar yet I have world recognized SAEs. When I sell I want an instant , no hesitation, sought after form.
Sling our Maggie a PM and she will sort you out no worry's at all, While I have no doubt at all every other PM dealer associated here on SS is a top notch no problems genuine buy, I and many others here can guarantee you will get personal service with an AAA + and a dedicated individual catered for service/purchase. Just my personal opinion.
I would buy storage bullion such as the Perth Mint program or KJC, therefore you dont have to worry about storing all that bullion in your house. Where did you say you lived again : ) Welcome
Thankyou all for your advice it has been extremely helpful. I live in melbourne. where would you guys advise as the best and cheapest place to buy in the Melbourne region, either online or in store
Corner of Swanston & Collins st is the center of Melbourne's bullion/coins world http://forums.silverstackers.com/topic-880-buying-silver-in-australia.html Sitesponsers Goldstackers & W.Davis & son
can i store my bars without rapping them in air tight plastic or do i have to do that to stop them oxo in the air?
