Hi everyone. I started buying stacks in December. I don't have any money to really buy in bulk like I did last month. I am saving money and currently have $500 going towards silver. I am waiting to save more to get enough money to buy a 50oz bar or in coins. It will take me a few months to save money to buy 50oz. Would it be better to just buy $500 worth of silver today, or should I just keep waiting til I can afford the 50oz? Silver going up is getting me worried that it will be really pricey if I keep waiting... :/
Welcome fellow stacker. It is entirely normal for the spot silver price to fluctuate and even be volatile. There's no apparent shortage of silver blobs (non-denominational, common, generic bars and rounds) in the world. That's not necessarily true for all silver products though. For example, some silver coins have a very limited mintage and if you see or believe that these particular coins are or will be a good mover in the market and so this may be a factor which influences your buying strategy. Do you plan on holding for a long time or are you thinking of selling (flipping) some of the silver products you buy when it's opportune to make a profit? Whether to buy little now or save and buy bigger later depends on your belief and other factors. Do you believe the spot price will come down in a time frame consistent to the time frame you will have saved more money and be ready to buy? Are you buying interested in buying blobs or low mintage coins? No one can really answer the question for you because there are many personal factors that may affect you differently than other stackers. And besides, no one knows what the spot price will be tomorrow let alone 3 months from now. .
I've seen people saying that at $40 and $50. Look at other prices. Do you also see such rises? If no, then no worries!
Any savings you'll make buying in bulk will only be savings made on the day. That day's savings may not match the savings you'll realise today. So buy now and have the metal.
See if you can buy unallocated silver from a dealer. You spend what you can afford when you can afford it and buy the silver at a small amount over the spot price. The dealer keeps an account of how many ounces or grams you have bought. You keep doing this until you have a sizable amount of unallocated silver sitting in their safe. They you redeem the silver for the best premium you can get get, most likely a large bar, and get it posted to you. Pros lots of small low premium purchases equivalent of a bulk discount on redemption pay for only one postage fee If spot is high you don't have to buy, if it is low you can increase the amount you buy The money has already been spent on silver so you can't spend it elsewhere If you need to liquidate you can sell it back to the dealer for spot, no postage fees. You might be able to swap it for gold, check with your dealer for fees etc. Cons How well do you know your dealer?
For me,its all about keeping up till price action is close to the last high and buy twice or more silver then I did as I got as silver went up. Price action bud,price action is weak at best for silver,last 3 years but I do not care I just buy as wrote above that what I do. If u get worried each time silver goes up not even close to a high in price action from the past,how are you going to feel when silver drops again?T
If your just starting out rara I would recommend buying as you go, this will dollar cost average your purchase. No one really knows where the price will be in the months ahead and you may spend the money before you get there. Personally though, I wouldn't recommend buying a 50oz bar not that you will find many. I would stick with 10oz bars and 1oz coins first up. Both are easy to move and at the core of most stackers allocation. Just my opinion others may/will have a different idea.... One way you could get some bulk action quicker is in a group buy.
Because your gradually building as you go then i'd stick with current 1oz coins that may appreciate in value before silver goes up. It will give you more bang for your buck as far as getting some form of silver regularly rather than waiting ages for one big blob which isn't really fun. your only then thinking about spot price and not the potential value of it's collectability. You might of missed out on getting the 1oz lunar goats for normal retail price this year but next year you can buy the monkeys. so for now i'd buy the 1oz kook, when the panda comes out you could get a couple of them, maybe a 1oz bar here and there to satisfy your curiosity but try and time your buys with new coins coming out when you can get them at the original price. so yeah, it's mostly about having a bit of fun at this level, but some coins will appreciate in value just for their collectability, the next year you could sell your old panda's, lunars & kooks to increase your oz's by swapping over for the current release.
