Just wanted to introduce myself! And say a thanks for the informative posts and opinions which have prompted me to finally 'pull the trigger' after years of delay ...errgh. Yesterday I downloaded and listened to Michael Maloney's audio version of his book -Guide to Investing In Gold and Silver - posted in a sticky thread here and he managed to get off my behind and make some significant purchases of silver and gold today - I used a dealer maybe i should have sought out people here but is anyone selling . The thing i really liked in the book is the idea of rotating between asset classes to maximise returns. I came across the same idea a few years ago from David Swensen - investor for Yale Endowment (if i recall correctly). It struck me as quite sensible. So i decided to jump in- the deep end My main goal is to protect against declines in AUD as i feel it is at unsustainable heights (IMHO). Unlike Mr Maloney i prefer shares over real estate (at least in OZ), long term I would like to buy shares in some strong and large companies USA based (big fan of BRK and LEK - on the NYSE). Question: I purchased a kilo bars: (gold & silver) and wonder if there is much difference in cost if i had purchased say 5/10 Oz coins/bars of equivalent weight to a kilo? Yes, i made a quick decision without carefully weighing the difference-most unlike me! Next time would people recommend say 20 x 5 ounces coins/bars instead of kilos? It seems there is little discount for that type of bulk purchase... I hope the price will go down so i can buy more
Welcome aboard! The only consideration here - assuming you're stacking for protection of value / SHTF scenario is this... when it comes time to sell (or, if SHTF swap you metals for food or other items), having them in large units makes it hard to divide them, especially if their "value" has increased significantly. The units you've bought will be fine for stacking away - what I would do - if the above is something you may have missed in your carefully planned deliberations <jks>, would be to simply add to the stack, but next time, buy in smaller bits. As an example, looking at my own silver stack, I have some large pieces, but also some 1oz ASE, Maple, Kook, PAMP - all in 1oz units, ready for division if SHTF. For gold, looking for "small" amounts when measured in currency would indicate 1/10oz, or ever 1/20oz, or 1g. These, I find, generally have high premiums, so personally I've settled on 1/2oz or 1/4oz - they're probably too big if value increases considerably to be called "small" - but I have enough 1oz silver to handle smaller swaps/purchases
Thanks Midnight Man for your thoughts. And for the hello's from everyone else! I will buy smaller units going forward. Just had dinner with a friend and after telling him about my purchased discovered he purchased $15K of silver coins from Perth Mint back in 2002! Lucky guy. May try to buy off him ... if I can persuade him to sell
