Hi from Brisbane

Discussion in 'Welcome New Members' started by Mark, Dec 30, 2010.

  1. Mark

    Mark New Member

    Joined:
    Dec 30, 2010
    Messages:
    152
    Likes Received:
    0
    Trophy Points:
    0
    Location:
    Dubbo
    Hi guys

    I'm new to stacking... well i haven' started stacking yet. I guess I'm one of the SHTF'ers, but i have no idea when that will be.
    I am just a mere furniture salesman and don't have a lot to invest so i will just start off with buying a 1oz coin each week and a 10oz bar when i have the money. My attitude is... 1oz is better than 0oz if the FIAT collapses.
    If the sh!t dosen't hit the fan then i'll wait til the gold/silver ratio drops enough and i'll migrate over to gold, and if the pm/real estate ratio drops enough i'll migrate again.

    My stacking goals are simple... buy 1oz.... and then aim for 100oz... i'll set new goals once i get there.

    I have read a fair few of the posts in this forum and have learn't a fair bit and im sure my learning curve will be vertical for a while yet. I appreciate everyone's willingness to share information and ideas on this forum and i look forward to learning and growing stacks with every one.

    i am in the truest sense, a newbie, so i hope you all have patience with me because i'm sure i will ask some newbie questions.


    Mark

    P.S. I have listened to the audio version of mike maloney's book, but intend to buy the real book soon.
     
  2. Apollo

    Apollo New Member

    Joined:
    Sep 5, 2010
    Messages:
    567
    Likes Received:
    2
    Trophy Points:
    0
    Location:
    Australia
    Welcome Mark, it sounds like you have the most important steps covered when it comes to achieving anything you want and thats defining a goal! It also seems yours is a pretty realistic one and one that pretty much anyone should be able to stick to, just think of it as putting money into a bank, though the money is real money and the bank is actually one that you can trust (ie yourself) :)

    Good luck!
     
  3. Slam

    Slam Active Member Silver Stacker

    Joined:
    Sep 27, 2010
    Messages:
    1,289
    Likes Received:
    17
    Trophy Points:
    38
    Location:
    Au
    Welcome to the boards,

    Feel free to ask some questions.

    Slam
     
  4. Silver is Money

    Silver is Money Member Silver Stacker

    Joined:
    Dec 4, 2010
    Messages:
    268
    Likes Received:
    6
    Trophy Points:
    18
    Location:
    Qld
    Welcome to the board Mark. Definitely buy the Mike Maloney book as soon as you can, it'll change your life. Go the Cane Toads :)
     
  5. Mark

    Mark New Member

    Joined:
    Dec 30, 2010
    Messages:
    152
    Likes Received:
    0
    Trophy Points:
    0
    Location:
    Dubbo
    Thanks for the welcomes

    I have probably already read the answer to this but i think im reading to much and getting overwhelmed...
    If i buy a kook that has roughly a $9 premium over spot... when i decide to sell it, does it sell with premium over spot or do you only get spot?
     
  6. mmm....shiney!

    mmm....shiney! Well-Known Member Silver Stacker

    Joined:
    Nov 15, 2010
    Messages:
    20,933
    Likes Received:
    3,819
    Trophy Points:
    113
    Location:
    昆士蘭
    Hi Mark and welcome.

    Depends who sell you it to and how much they're willing to give you.

    I don't buy kooks so I don't know the usual premiums, but I view the silver spot price as the "wholesale price". If you can buy something at spot, then you have done well. If below spot then you have done very well. A dealer will try to buy bullion as close to spot or lower, then resell with a premium (profit margin) in line with other retailer's prices give or take a few %. We mostly are consumers so we are offered a retail price, just like when we buy eggplant or salami sticks from Coles.

    However, collectables can attract a higher premium than say bars or rounds because of their "collectability". So you may pay $9 premium for a $30 piece of metal now, but if you sell it in 2 years and it is desirable you might get $20, $30 or $50 on top of it's silver value. You have more than covered your $9 premium. But if you sell it to someone who doesn't give a stuff about it's numismatic value, or it has become an undesirable piece that has little collectable interest, they might offer you only close to spot price or less, remembering they may operate in the wholesale world and need to turn a profit. You may indeed lose your premium, or the increase in the spot price might just cover the retail mark up you paid.

    Sorry, bit long winded.
     
  7. Mark

    Mark New Member

    Joined:
    Dec 30, 2010
    Messages:
    152
    Likes Received:
    0
    Trophy Points:
    0
    Location:
    Dubbo
    Thanks for the feedback

    Not long winded at all... i guess once i have a few of them i can trade them for 10oz bars.
     
  8. mmm....shiney!

    mmm....shiney! Well-Known Member Silver Stacker

    Joined:
    Nov 15, 2010
    Messages:
    20,933
    Likes Received:
    3,819
    Trophy Points:
    113
    Location:
    昆士蘭
    Or buy a 10 oz bar now and reduce your premiums.
     
  9. Aurora et luna

    Aurora et luna Well-Known Member Silver Stacker

    Joined:
    Jul 1, 2009
    Messages:
    6,853
    Likes Received:
    3,354
    Trophy Points:
    113
    Location:
    Sydney
    Welcome Mark
     
  10. Welcome_Stranger

    Welcome_Stranger New Member

    Joined:
    Dec 16, 2010
    Messages:
    120
    Likes Received:
    0
    Trophy Points:
    0
    Location:
    Australia
    Welcome Mark.

    In a year you will have over 50oz's !!!!

    How many people (in the general population) have over 50oz's??? = a very (very) small percentage I would say.

    ....On the right track - well done and welcome again.

    WS
     
  11. Mighty Atom

    Mighty Atom New Member Silver Stacker

    Joined:
    Nov 20, 2010
    Messages:
    182
    Likes Received:
    0
    Trophy Points:
    0
    Location:
    Sydney
    Wecome Mark, enjoy your stacking..
     
  12. Mark

    Mark New Member

    Joined:
    Dec 30, 2010
    Messages:
    152
    Likes Received:
    0
    Trophy Points:
    0
    Location:
    Dubbo
    Thanks again for the welcomes

    I always sucked at saving money, but hopefully it was because it wasn't REAL money
     
  13. THUCYDIDES79

    THUCYDIDES79 New Member Silver Stacker

    Joined:
    Sep 1, 2010
    Messages:
    3,606
    Likes Received:
    3
    Trophy Points:
    0
    Location:
    Brisbane/Greenbank
    Welcome Mark,

    You could also consider buying 1966 50 Cent pieces ( they are 0.3416 oz each of 0.800 silver) and are as liquid as
    cigarettes are in prison. And the premiums would be smaller.
    Some members here have a large number of those coins, and you could try and see what happens there and if they could
    agree to sell you 3 of them on a weekly basis.
     
  14. silvertongue

    silvertongue Member Silver Stacker

    Joined:
    Oct 18, 2010
    Messages:
    911
    Likes Received:
    0
    Trophy Points:
    16
    Location:
    Depends on the day
    Hi Mark, and welcome to another Brisbanian. Your plan is sound, but just be aware that the smaller a bar/coin is, the higher a premium it will attract. If you're stacking for the long term this shouldn't be an issue, but if you overcommit and have to turn something back into cash, you can lose some of your premium. It is strange but true that some pieces are more popular than others at any point in time. It's also true that on this forum, 1966 50 cent pieces are almost a currency within themself! :)

    Enjoy the ride!
     

Share This Page