Diving in: A college kid's initial investment

Discussion in 'Silver' started by AndyPointO, Jan 8, 2011.

  1. AndyPointO

    AndyPointO New Member

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    Prior to 2011, I've never made an investment, though I've been itching to start. I just finished my winter break from college, and spent a good deal of my time researching precious metals. I've became obsessed with their potential, and couldn't help putting some money in. Here's what I have so far:

    17 "junk" Silver Dollars (90%)
    9 junk Half Dollars (90%)
    1 junk 40% Half Dollar
    6 junk Quarters (90%)
    42 junk Dimes (90%)
    1 war Nickel

    5: hand-poured 3oz .999 Silver bars from Monarch
    7: hand-poured 1oz .999 Silver bars from Monarch

    Total silver comes to about 42.7 oz, with around $1,250 invested. I realize this is just getting my feet wet compared to a great deal of you, but I suppose that's the life of a poor college kid. I'm looking to get in the gold market with about .3oz (1/10 oz rounds from Monarch), and rounding the silver up to about 50oz. Am I on the right track? About 23% of my current worth is now silver; can't tell if that's too much or too little. I don't have any real expenses or financial responsibilities.

    Regards,
    Andrew O
     
  2. rbaggio

    rbaggio Active Member Silver Stacker

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    Andy welcome to the forum.

    My opinion is that silver is the speculative play, gold is for building and preserving wealth. I think you are on the right track as you are looking to both metals. Also keep buying bullion, stay away from numismatics (unless you get them for bullion prices).

    I wish i had your thinking when i was in college!
     
  3. THUCYDIDES79

    THUCYDIDES79 New Member Silver Stacker

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    Welcome to the Forum Andrew,

    You are doing very well so far.
    If you dont have many financial liabilities and costs, than
    just continue doing what you have been so far with excess/remaining cash.
     
  4. Slam

    Slam Well-Known Member Silver Stacker

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    Welcome to the boards.

    When I was at Uni/College, I pissed away alot of money on computer gear and enjoying myself.

    I'd wish I'd put all my money into bullion, I would be much happier now =D.

    But none the less, your thinking on the right track. Keep stacking while you can.

    Slam
     
  5. silverfunk

    silverfunk Active Member

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    precious metals were not on my mind during uni, all beer and babes were haha.
    if i only id become aware back then.
     
  6. Kali Silver

    Kali Silver New Member

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    Welcome Andy you came to the right place. The right place for PM knowlege and investments. I couldn't agree more with whats been stated already. When I was your age it was paycheck and what to spend/waste it on. But you're on the right track, get your paycheck and pay yourself first. You have a very long future ahead of you and you will be surprised how much your stack and investments will grow. There will be bumps in the road but you are young enough to take on some of thos risks.
     
  7. chimpanchu

    chimpanchu New Member

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    I can see a trend forming, stackers and getting younger and younger! :)
     
  8. bennybbc

    bennybbc Member Silver Stacker

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    Just for interest sake, are the young stackers here because houses are too expensive?
     
  9. Ossie

    Ossie Member

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    Im sort of youngish, i think? what defines young btw..

    But i got into PMs because property is too expensive and I am not a believer in loans with interest. Hoping the PMs i buy today will help by a house later though...
     
  10. Guest

    Guest Guest

    Welcome aboard mate!

    Considering the above ground silver supply for investment purposes amounts to around a paper clip's worth of silver available for each person on the planet, I reckon you're doing pretty bloody well to say the least :)

    Our favourite saying around here is very simple... keep stacking!
     
  11. Austacker

    Austacker Active Member

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    I gave a few books to my 18 your old nephew to read, saw him the other day and said how are you going. He had read one already and was on his second he was really excited with questions etc... So yeah I think some of the young ones are looking to the future other than savings and shares.

    Welcome Andy you are on the right track good to see :)
     
  12. Dabloodymess

    Dabloodymess Active Member

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    Well its not a prime motivator, but then again if I was able to enter the property game at a reasonable price I probably would be keeping my fiat for that instead of sinking it into metals.

    I like the idea of owning property, I would like to one day own property, but its out of reach for me in the short to mid term unless I am willing to take on more debt than I am comfortable with. So instead I am storing my wealth in another medium, half on the hope of seeing an increase in value and half to simply keep my wealth outside of banks and fiat currency.
     
  13. Guest

    Guest Guest

    *everyone* in my house is a stacker. Wife, kids... the works.

    My kids are not even in high school yet! They're the 'gold and silver' kids at their school as they're the only stackers in their classes.

    They wear the title like a badge on honour actually! ;)
     
  14. AndyPointO

    AndyPointO New Member

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    Wow, thanks for all the encouragement! I've seen rave reviews on here for "Rich Dad's Advisors: Guide to Investing In Gold and Silver: Protect Your Financial Future." It's in my Amazon cart, which I'll be getting shortly.

    I got into stacking simply because of the investment potential; not as an alternative to real estate or anything. It's incredibly affordable and can be bought in small denominations compared to stocks that you need to buy in 100-share lots to avoid high fees. The ability to hold a physical object is neat/reassuring, too!

    The first domino fell when I was going through a few coins I collected over the year. My grandfather gave me a Liberty half dollar, and I was shocked to see it would be worth $10 in silver alone. Everything fell into place from there, I guess. Debating placing that next order this weekend, or waiting to see if this dip continues, or just saving the cash for another dip.
     
  15. Guest

    Guest Guest

    You're in the US mate?

    This one will make you grin...

    [youtube]http://www.youtube.com/watch?v=r19kv8H4hBw[/youtube]
     
  16. Smoothcriminal

    Smoothcriminal New Member Silver Stacker

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    Welcome aboard and congratulations on starting :)

    my split is around 50/50 gold silver ($ wise) and I aim to have around 10% of my net worth in them as a hedge - rest is in property, shares and good old consumerist crap :p
     
  17. SparkySilver

    SparkySilver New Member

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    Welcome,
    That's a great start. Keep stacking!

    What part of the US are you in Andy?
     
  18. Agauholic

    Agauholic New Member

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    +1 Jugs n Jugs

    Don't regret a minute of it!
     
  19. AndyPointO

    AndyPointO New Member

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    I'm at Penn State's Main Campus (Central PA), majoring in Chemical Engineering. No coin shops around here to my knowledge...

    I can get 1/5 oz of gold and my 8 oz silver (bringing total to 50oz) for around $560 with current prices and shipping. Might wait out the week, see where it takes us.
     
  20. SparkySilver

    SparkySilver New Member

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    You can locate the closest dealer to you, look here; http://www.coininfo.com/coin_dealers/
    :)
     

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