Hey everyone I am new to collecting silver. I'm starting young (I'm 20) and plan on collecting silver and eventually some gold, and don't plan on selling it until I think about retirement or if the prices skyrocket. I am up to only 7 oz so far, a 1 oz APMEX bar and 6 Sunshine minting rounds. Just looking for some general tips like what to collect, the amount of gold I should invest in, where to buy, and some other tips that stackers wish that they knew earlier. Thanks!
Welcome, I'm also currently new to collecting silver, recently turned 19 and I've got 2kg of silver. Coins are more liquid than bars however coins are more expensive and theres a premium price to it.
Welcome young lad Hve a look at the FAQ link in my signature, should be some useful info for you there. General tips- stick with low premium and recognized coins and bars until you have a better understanding of metals and what direction you want to go (maximize ounces, numismatics etc). As a newbie, only buy from reputable dealers and stay away from eBay, too many counterfeits out there. Buy a neodymium magnet, some decent digital scales and become familiar with common fakes so you can identify them a bit easier. Also take people like James Sinclair, Mike Maloney, Jim willie etc with a huge pinch of salt. If they're selling you metal, they're selling you the hype There's no real rule of thumb for how much gold you should own (if any) so it depends on a number of varying factors. Some are very heavy on silver ( http://forums.silverstackers.com/topic-55165-am-i-the-only-one.html ) for various reasons such as the Gold Silver Ratio (GSR). Others are heavy gold as it's considered a 'safe haven' asset in times of economic uncertainty. Where to buy depends where you live. Are you located in the US? JMBullion seem to be highly recommended on here. APMEX are good too and have a wider selection. Postage can kill any $'s you save on metals so try to keep that to a minimum (tracked my postage for 6m... Averaged $160/month!). Oh and good luck with the devil's metal
I look at the cost of silver per troy ounce delivered to my house. I have bought from JMBullion, APMEX, and a local retailer. Using online dealers helps determining your cost a bit easier because the total cost is displayed right on the screen versus trying to determine how much gas you spent driving to a physical retailer and how much you value your time. A recommendation for online retailers is to add all the silver you want to buy to your online shopping cart and proceed to check out all the way until they are asking for your credit card number. That's when you can see the total cost for your silver including shipping or any other cost that may be involved. I usually visit multiple sites and use this method to find the best deal.
Welcome, I think we have about 5000 members so you should get about 5000 tips, mostly different. Fortunately it means that there isn't a 'right' way to do it, but you should pick up a lot of things not-to-do and that is where you make your real money, by not making costly mistakes. 7oz is a good enough start, if you can only afford small amounts at a time and you are concerned you might spend any money that is lying around you might want to look at buying a small amount of unallocated silver each pay day and then waiting until yo have a decent amount. That way you can afford the larger volumes, so you get the discounts, and you only pay postage once. Lots of strategies out there so there is no need to rush into anything, silver isn't going to the moon just yet, you haven't missed the boat and silver is not rare.
Second what jislizard said. Buying unallocated is a cost effective low premium option which reduces over all costs on postage, storage, premiums paid. This way can get you into buying tubes or larger bars in one go at a later date after slowly building up an unallocated portfolio. It also means you don't miss the boat if gold/ silver goes up. As you would if you just saved $$ to buy bigger bars/ more coins. I really like how goldstackers unallocated bullion works.
Goldstackers also has mini-allocated which lets you save up lots of small purchases from them over a period of time and then they get mailed to you when they hit the right weight limit.
Welcome, you are not alone I'm 21. I bought gold and silver usually from the city in Sydney. The thing I buy is usually anything with low premium,I am not going to waste money on just cause it has a nice picture or what not..im there for the gold and silver not picture.. it's like buying a shoe but then paying more to get a brand like nike. However I do pay premium on coins that are limited minted.
I'm new too... only been collecting a few months back. I take on board the help and facts of the kind people here... but stack/collect what I choose. I started off by a selection of 1oz bullion coins and then started on the Lunar II series. I'm busy collecting that but it will take me years and years to get a large collection going. I'm also interested in getting some proof collector coins. If your in it for simply the value of spot silver/gold... collect bars. If your in it for security of the value, collect coins. If your in it because you enjoy collecting... then have some bullion bars/coins and also start gathering a collection together. You'll enjoy stacking more that way... well I do anyway!
Glad to see some other new stackers on here! I'm new 24 years old and just started about 5 months ago! From what it seems now isn't a half bad time to jump in! In my short stay I've gotten a ton of great advice on here, mostly from reading threads that other people posted. My suggestion to you is to read a lot and perhaps go a few pages back before starting question threads. Every questions I ever had was answered by someone in another thread. House also has a sticky someone on here with LOADS of information for a new stackers. The best things I have found are this website, and the spreadsheet from "Graspthewealth" it tracks all your purchases and does alot of neat stuff for you!
Welcome fellow stacker ! If the longest stacker here was a day old, then I'm just born What's a large stack, dunno ? just can't find that answer ! As a bench mark, old man OC reckons 3,000 oz triple nine fine silver, plus 50-60 oz's 24k pure gold. Seat belt's on, have a great race. Along the way, you can stop at all the shops, for coins, proofs, numismatics, whatever you want. I'm into barring up really ....
I have been buying in mostly 10z bars due to the low premium like a lot of others do. If I buy rounds I stick to the lowest premium ones I can.
