Hi all. I'm relatively new to the silver scene but given current developments globally am keen to diversify, less so for making profit and more so for not trusting paper system much longer. A better store of wealth in the longer-term and during any possible crises. Given the above context, I have a few questions. - I'm assuming it's best to have a range of different forms e.g. some bullion, some coin, some big, some smaller? - I have previously bought 1kg PAMP bars which come with a certificate. I prefer the 'neat' look of the PAMP bars and the apparent trust of the source (PAMP Suisse) seems to give me more confidence in the product (particularly as today I happened to see a single 15kg bar and wow was it rough!!). However, in saying that I have no idea what to look for when I purchase - are there any tips to identify physically whether a product is legitimate or raises questions? - The same question for coins, in terms of what to look for? Recently got some Canadian Maple 1oz coins in 25x tubes. They are dated 2012 I think. Does the year matter? - Is the Canadian Maple a good purchase choice in coins for someone based in Australia? - Note these purchases are from a place called Ainslee in Australia, any feedback on this place? Thanks for any help with the above! Pieter
Considering your motivation for getting into PMs (store of wealth / insurance against fiat failure) I would reccommend you aim for bars or maybe generic coins/rounds - either way you want to focus on getting LOW PREMIUM. Ideally at 0-2% above spot price. Not neccessarily unless you think you need different sizes to trade/barter with in a full blown SHTF scenario (SHTF = S*** Hit The Fan). Find a product(s) you like and get to know it well. Do a bit of research about whether fakes have been made for those products and learn how to identify them. Easiest tests are weight and size comparison to a product you already know and own. You can get well recognised stuff from Perth Mint which is as good (if not better) than any other mint and you're also buying local The year doesn't matter on Canadian Maples and a lot of generic coins/rounds (designs don't change year to year) Canadian Maples in Silver can be very prone to developing milk spots. I'd consider them a poor choice. Stick to Australian coins if your just getting started - they are more readily available and should be lower premium too. As good a place as any to start I suppose. Buy a couple of singles from there and get familiar with them, then have a look in the buyer forum here once your more confident. If you stick to buying from guys with good trade history you can get much better prices than a bullion dealer in the long run. Good luck. I was exactly where you are now about 6 months ago. I have learnt so much from this site since then it has changed my whole outlook. Welcome aboard.
Thanks for those responses. I will take your advice but one quick question to follow up since more purchasing is imminent. - Generic coins / rounds, I don't see those in the list of products (Ainslie then). - Is there any particular PM Australian coin that's generally considered better than others? Cheers, much to learn.
Having a look at the Ainslie site here :- https://www.ainsliebullion.com.au/products/silver-bullion/tabid/85/type/2/default.aspx These are generic coins :- - 1oz Silver Eagle Coins (20 for $530.15) - 1oz Silver Austrian Philharmonic Coins (20 for $530.15) - 1oz 9999 Silver Kangaroo Coin 2016 (25 for $611.69) <- This is from Perth Mint - 1oz Silver Maple Leaf Coins (25 for $657.69) Generic rounds are basically coins without a legal tender value. I don't see any there, but my favourite silver round is this one :- http://www.perthbullion.com/shop/detail/buffsco1/ ^ It's American but it is frequently available at low premium. You can probably pick up a decent chunk of these on the forum at a good price if you're patient. https://www.abcbullion.com.au/store/silver/seurc011oz-abc-bullion-eureka-minted-coin ^ This is a lesser known Australian generic round that is still getting established, but maybe worth a look at the right price. It's a matter of opinion and personal choice. I personally invest in semi-numismatic coins from the Perth Mint (Kooks, Koalas and Lunar Series) but that's party due to my long term investment strategy and they have higher premiums - thus higher risk. If you can get the Silver Kangaroo Coins (mentioned above) at a decent price, I'd recommend those. If you do the math on the offers above you'll see the Australian Perth Mint generic coin is cheaper per unit than the overseas ones, but the premium from a bullion dealer still hurts.
DISCLAIMER - I am sure there are others on the site who've been here longer and will argue against my comments, so please don't take my word as gospel and give it 24 hours or so to see who else will chip in with an opinion
I feel BuggedOut's advice is good. For me, diversification is important. I no longer am convinced like I used to be that there will be a SHTF / global currency collapse scenario in my lifetime or for many, many, many decades to come. So I am not really preparing for that any longer. That means I feel much more at ease buying silver I really like (design, finish, etc) rather than buying generic blobs that I don't care anything about except the silver content. Bottom line is: 1) knowing why you want to buy items made from precious metals 2) where are you geographically located 3) what your personal limitations are and 4) what you perceive your future situation will be like (do you plan to move across the ocean, plan to have kids, plan to open a new business, etc, etc, etc. .
I would like to know where "bugged out" buys for 2% above spot . There are certainly NO retailers that sell at that price. Are you just talking about thrift shops and private sales?
I said "ideally" and also pointed him towards the forum - where deals at 0-2% can sometimes be found if patient (and quick) http://forums.silverstackers.com/topic-71095-wts-2-x-1oz-abc-gold-bars.html ^ Spot http://forums.silverstackers.com/topic-70945-wtsgold-and-silver.html ^ 100oz and 1kg close to spot http://forums.silverstackers.com/topic-70937-new-year-clearance-gold-and-silver-coins.html ^ Kruger and Klondike set at spot http://forums.silverstackers.com/topic-70991-11-ounces-of-abc-gold-at-spot.html ^ Spot ALL of these sales have been in the last week or so. It is not that uncommon to get good deals on here at 0-2%
That said I recommend newbies start by familiarising themselves with single products via bullion dealers (as I did) to get confidence and knowledge up first. The dealer premiums are worth paying at the start if you consider them the price of being educated about silver (and gold) in a much safer way.
Stacking silver is addictive. Ensure you have secure locations to store it. Gold is better in the fact that you pay more money to get less so its easier to store. As others have said, diversity is the key. Lets say the shtf which is what you are preparing for and you run out of supplies. You rock up to someones camp who has items for trade. You work out that a kilo of sugar, a kilo of flour, 5 litres of petrol and a 5 litre bottle of water cost you two ounces silver for example. But you only have a kilo block of silver... and he has no silver for change. See what I mean, you need varying amounts for different situations. People who sell at spot generally want cash fast. A lot of the time the items are either snapped up or sit there due to the fact that people don't have liquidity at that moment in time or they don't like the product/don't stack it for example. Don't expect to buy items at spot regularly, yes it happens but most dealers cannot even buy at spot... Don't rely on it. I always smile when I see people post that they want to buy specific items ie pamp and they say, "willing to pay spot." How generous. If I have it and you really want it and I don't need the cash I am going to charge you for the privilege and its going to be more than spot. Quite often they don't get back to me when I make an offer but thats fine because I don't really want to sell it and they obviously don't really want to buy it unless they can get it for a steal.
