Hi All... been browsing the forums for a little bit. Have never bought bullion before and don't know much about it. Am interested in buying as an investment rather than a collector. Can anyone offer advice on where to start, things to read, best places to buy etc. Thanks.
Read this http://forums.silverstackers.com/topic-880-buying-silver-in-australia.html then this http://www.silverstackers.com/portal/index.php/bookshop Then check out the Site Sponsors sites. Im in the west and buy most of my stuff from Perth Mint and Bullion Bourse. Check this thread for more info (esp if your from the eastern states). http://forums.silverstackers.com/topic-963-online-links-resources-for-precious-metals.html
Very true words - any BS suggestions or directions would be flamed in seconds...but were a very happy bunch :lol: Welcome aboard...
Thanks for the welcomes and hello again. Been reading a bit. Quite a daunting thing to put money into metals in the hope of making a profit. I first started looking at silver when it was $17. Then it shot up past $40... so I do feel I've come to the party late. Gold appeals to me also but the price is really high. Here's a dumb question... Is it possible to invest in metals and get some rate of return from it like interest? I'm not talking about buying metal stocks.
Welcome Stackerdan, There is a way of generating interest from your gold and silver stack For example you buy $10,000 worth of gold or silver bullion. Every year you sell enough gold/silver to match the returns that you would have received if the $10,000 worth of Gold/silver was cash in a fixed deposit. The theory is that your gold/silver stack would appreciate higher in value than fixed interest. There's no guarantees with this method and we are counting on blues skies
But that only works if the price goes up. I was thinking more along the lines of depositing it into a place like a bank that pay's you interest.
Many years ago a certain big bank offered such an account, based on the value of ounces purchased. Not any more.
Hello Stackerdan. Don't worry, I am still very much a newbie to this whole stacking thing myself and it's considerably harder for me with me being in the UK. However, you have come to the right place to learn more as there are people on here that eat, sleep and breathe precious metals....but don't feel intimidated....if you have any questions that you feel embarrassed to post on this thread I would send a private message to one of the more active members and I am sure they will be only too happy to help. I personally recommend fishball as he seems to have his head screwed on particularly tight!
Hi Stackerdan..Welcome aboard the silver express...Only advice Silver is better than fiat. Regards Errol43
Don't forget that when you put fiat in the bank at, say 6% interest (if you are lucky), 3% of that is lost due to inflation, and there's tax on the interest too! Rough example: $10000 principal + $600 Interest (@6%) - $258 income tax (@43%)= $10342 $10170 * 0.97 (@one year's inflation) = $10031 in current value! and that's if you can get 6% interest.
Your calculation for tax is wrong and should be approx $260 which would change your final result to about break-even.