Change In My Silver Stacking Strategy...

Discussion in 'General Precious Metals Discussion' started by ozcopper, Oct 24, 2019.

  1. ozcopper

    ozcopper Administrator Staff Member

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    Change In My Silver Stacking Strategy...

    So I have had a major change in my silver stacking strategy, I have decided that any silver I acquire from now on has to be done on the cheap! As many of you know, I'm always doing garage sales and visiting secondhand and op shops. I always find silver cheaply and I used to sell it off, but now I'm keeping it but I'm also not buying any "retail priced" silver. I recently swapped out all my silver bars that I had bought at the high GSR for gold, so no real loss in the GSR swap, just the opportunity cost if (when) the GSR drops. That being said, by my new silver stack is being made up way under spot cost, I think I'll come out ok.

    Below is a picture of my pick ups in the last 2 weeks. The spoons cost me $2 each from the Vinnies, The coins except the 2oz kook all owe me $5 for the lot. I bought a box of coins at a garage sale last weekend for $15 and sold the pennies off for $10 leaving all the silver coins costing me $5. The earring is 6 grams of 925 and cost 50 cents. I bought the "hammered" 2oz kook of gumtree cheaply yesterday. I also recently bought this lot off here: https://www.silverstackers.com/forums/index.php?threads/sold.93498/
    I think once I have cleaned up the gold ring, I'll get $50 for it leaving me nearly 80% of an ounce of silver owing me $7.

    This is an unconventional way of stacking but for me it's fun!

    [​IMG]
     
  2. Ipv6Ready

    Ipv6Ready Well-Known Member Silver Stacker

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    thats like $2 an ounce not bad.
     
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  3. 66rounds

    66rounds Well-Known Member Silver Stacker

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    Dont forget to consider the value of your time in chasing all this down, sorting it out and cleaning it up. A great way to stack in the true sense of a hobby, definitely beats just ordering a tube online and collecting it from the mailman the following week.

    Will you be purifying the silver or melting it down at all? If i was in your shoes there would be no way I could resist trying my hand at some back yard chemistry and pouring rounds into muffin trays! Of course, thats extra time and cost but at that stage i think it has well surpassed stacking and has morphed into something a lot more fun.
     
  4. ozcopper

    ozcopper Administrator Staff Member

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    It is time I would be spending doing it anyway. I'm not melting any of it and not cleaning any of it as I like the way it looks when I find it. I'll stack it just as I find it.
     
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  5. SilverDJ

    SilverDJ Well-Known Member

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    Yes, would be temping to start making your own bars. But in either case the issue always become if/when you need to offload it, how many people are going to want to buy "junk" silver?
     
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  6. ozcopper

    ozcopper Administrator Staff Member

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    I've never had trouble selling old coins or spoons in the past. But this is a long term stacking plan.
     
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  7. Skyrocket

    Skyrocket Well-Known Member Silver Stacker

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    I used to often buy higher premium silver. Past few years I streamlined to only stacking low premium.
     
  8. SilverDJ

    SilverDJ Well-Known Member

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    A new stacking strategy:

    upload_2019-10-25_12-42-1.png
     
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  9. Jislizard

    Jislizard Well-Known Member Silver Stacker

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    I am with you on the junk silver, I made the full time switch to zero premium silver when the Perth Mint offerings started developing Milk Spots. Wasted premiums.

    I have been picking up junk silver below spot for a few years now and the good thing is, if you miss out on one pile of junk silver coins it doesn't matter, the next pile will be just as good!

    Picked up a $200 bag of world silver coins last month from a coin club meeting. Spent 2 days sorting through it, checking out the mintages and looking for valuable coins, picking out the coins that looked like silver but weren't (one was a 1944 Territory of New Guinea three pence, mintage 500,000 which seem to be selling anywhere between $4 and $22)

    No more chasing the hype train trying to get the latest limited release before it sells out,
    No more crashed websites when a popular item becomes available.
    No more collecting a badly designed coin just because you bought all the others in the series
    No more buying the first of every new coin in the hopes that the series will be popular and you can flip it.
    No more buying capsules, 2x2s, pages, albums and slipcovers to store the coins
    Being able to handle them without losing any value and then throw them in a box when you are done
    The surprise of going through a bulk bag of silver and finding one coin that might be worth more than its melt value
    Having jars of silver coins looking like a spare change jars but actually being worth thousands of dollars each.
    Sitting down in the evening watching YouTube videos while cleaning 16 dirty old coins at a time and ending up with 16 shiny coins to add to the treasure chest

    Spoons though, not a fan! At least not a fan of the odd shaped tourist collectible spoons. I do collect silver serving spoons and various other silver cutlery as it is another way of getting some benefit out of owning the stuff.

    Jewelry I tend to avoid because other than my wedding ring I have no experience and I am sure I would lose too much money on ill advised purchases.

    I do have a few jars full of bent, twisted and holed coins that I am thinking about dropping in acid to extract the silver but the time and effort probably wouldn't make it financially viable, though I would like to get rid of the stuff, I do know one belly dancer so maybe she would like to make a belt out of all the holed coins.
     
  10. Slimey

    Slimey Active Member

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    Well done ozcopper.......This is my kind of stacking....the hunt is the most satisfying part, especially when you come across a bargain. The last good value junk silver purchase I made was at the Pambula market a few years ago. My best purchases were at a Coin Show in Bairnsdale back in 2007......absolute bargains.
    I have bought bags of florins well under spot but that does not compare to the thrill when I unearthed a florin using my metal detector in Apollo Bay.
     
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  11. Aurora et luna

    Aurora et luna Well-Known Member Silver Stacker

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    As a bonus if you stack 50% pre-decimals, you get another 12%+ of extra silver!
    I have XRF 50% florins and the silver content shows 57+%
     
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  12. 66rounds

    66rounds Well-Known Member Silver Stacker

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    Was that a consistent 57% of just a weird batch/year?
     
  13. Aurora et luna

    Aurora et luna Well-Known Member Silver Stacker

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    Consistent!
    Makes sense as silver would be heavier than the copper, zinc and nickel components
    I took a pic of the XRF results however I need to crop it severely due to the download limits here.
     
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  14. 66rounds

    66rounds Well-Known Member Silver Stacker

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    Thats interesting! Essentially any 50% florins sold at spot are in fact below spot. Would be curious if .925 and .80 coins tested correctly or heavier as well. Will have to get my hands on a few coins and run down to the CBD for a play on the XRF.
     
  15. Aurora et luna

    Aurora et luna Well-Known Member Silver Stacker

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  16. 66rounds

    66rounds Well-Known Member Silver Stacker

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