Hello, I am Stacker55. I have recently gained interest in the thought of "stacking" silver. The only problem is, I know nothing about it. I am just a 17 year old kid with a part time job and wanting to plan for the future. Question time: 1. Coins or bars? 2. Are there different kinds? If so, what kind should I get? 3. Is this a good investment? 4. Is there a certain way they should be stored? I currently have about 500 dollars.
Please learn to use the 'Search' function - all these questions have previously been asked - and answered!
No need to apologize, so don't. Everybody was new and unburdened by knowledge/experience at one time. What you need to do is many hours of forum thread research and reading. The 2 best forums are here and http://www.coincommunity.com/forum/ To give you a few oversimplified high-speed answers... 1. I stack both coins and bars. I stick with low-premium stuff to maximize the $ I put into my silver and minimize the $ I pay other people to sell it to me. 2. You're in the US and new -- so I'd suggest starting with American Silver Eagles, Canadian Silver Maples and 1 oz J-M bars from Goldmart (online). You can't get hurt with those ideas, and you can branch out later into whatever you want as you learn more about what you're doing. ASEs and CSMs are low-premium, and totally mainstream so you won't get hurt with them. Goldmart has some of the best prices available in the US (especially with smaller orders) and the 1oz J-M bars they sell are both totally mainstream and very low-premium. 3. If we didn't think this was a good investment, we wouldn't be doing it. 4. Store your stash out of sight. For a starter, get a mil surplus ammo box from an army-navy store. Realize a couple things above all else... 1. Every question you asked has MANY answers that different people will aggressively argue for --- and every one of these questions is an old horse that's already been beaten to death so many times that memory fails me. 2. My suggestions are the opinions of one stacker out of MANY. Pick our own path, chart your own course and do your own thing.
Hi Stacker55! I am brand new on here as well. I would suggest checking to see if there is a bullion dealer near you. I am very fortunate in that I have one very close to where I work. That way, you can see what you are buying and not pay and shipping/handling charges as well.
Just starting out, I would suggest stacking low premium silver. Eagles are the most liquid in the US. I'd stay clear of those JM bars that someone else suggested, they are just Sunshine Mint bars in disguise. After you've got some eagles, I'd move on to some low premium rounds or bars. Careful about buying locally, some states charge tax on bullion purchases. Frequently it's cheaper to pay shipping than tax.
The year is irrelevant for the most part when it comes to eagles and maples, get whatever year is cheaper.
I'd like to make myself 100% positive before doing something dumb http://www.goldmart.com/2013-1-oz-american-silver-eagle.html 15 1 Oz American silver eagle coins for: 469$ Good idea, or bad for a starter
No offence, but this sort of response to new members is not exactly helpful or welcoming - there's a number of people that do it, so sorry for picking on this example. The search function on here is pretty basic, it's great for trying to find an old post that you know about or search on a specific keyword, but a search on "coins or bars" isn't going to return anything useful. There's a wealth of information on the forum already - but sometimes encountering it is a case of picking a subforum and wading back through old threads.
+1 I'm just reintroducing myself once again to the Precious Metal (PM) markey and would say to check out local coin shops if you have any near bye, they typically have much lower premiums and you do not have to pay for shipping. I usually hold on generic bars and rounds preferably by the more reputable companies such as Johnson Matthey (JM), Engelhard, and so forth. I do buy collectible and rare stuff in addition but that is because im a silver addict and typically if purchased wisely can carry a nice premium when sold on ebay. Good luck!
Save a little bit more and grab a 20 oz roll of American silver eagles. Should be cheap in your part of the world also.
Hey Stacker55! And welcome. I'm with db23, that's a good choice to start (and middle and end). I just purchased 20 1oz 2013 SAEs today from Goldmart. Just realize that this is a long term investment. I personally expect silver to do better than the 0.8% an online savings account would give me (but I have that too, as part of my "diversification"). Its a fun hobby that helps you save, which is a very good thing.
I believe I'll go ahead and get the 20 Oz roll with my next paycheck (Thursday). Putting all the savings I have into this. 500+$
Hi and welcome, not familar with this website but prices look good. One thing to always remember is to include any shipping charges into your price to get an accurate average price per coin. Shipping is usually calculated in two ways up to a price point, ie $25 for order between $1 - $500 or done by weight ie; $25 for up to 500g. You sometimes need to play around with the shopping cart adding a coin or two to see if you get pushed into the next bracket for shipping. And if you get into purchacing bars of the 10oz variety (which I reccomend) somethimes you can sneek in a coin or two and the shipping stays the same but you've lowered the dollar cost average per ounce. Any way thats my random thoughts for the mornnign. Happy stacking
I'd like to take a second to thank all of you for this. I realize it may take a long time and a lot of money put in to profit greatly from this, but I've came to the conclusion it's totally worth it.
Lets say, I buy a roll of 20 oz SAE coins a year from now on, would me having a wide year collection make the value go up any?
