Hi everyone I was told about silver 2 weeks ago and bought two 20oz bars from the Perth mint. Now I have the bug and no idea what to do next. I have 10k to spend and I don't know what to buy (coins or bullion ) Perth mint, siuess, coins ? Should I go in before it hits $50 a oz and what should I buy? Please help ?
Thanks Bone Yard. I was told I should buy coins and smaller onces would that be the case ? Or are you saying to go into the Perth mint and buy as big as bar as my money will buy. Sorry to be a pain.
The way prices are going 1 oz bars could be the way to go. 10 oz bars are also fine. the smaller the size is the best way to get out when prices hit the moon. PS, how did you find SS?
Dusty, don't take this advice as gospel. Consider the advice that you receive here but do your own due diligence. I agree with Boneyard though. Generally bars are cheaper from the mint but coins can be cheaper from resellers like some of the advertisers to this site. Have a look around and ask about postage and insurance. Depending on where you are, these may need to be considered in calculating your total. Whether or not to spend all the 10g at once or not i'll let someone else offer that advice. If you consider gold, coins are generally easier to sell than bars. Silver does not matter between bars or coins, but as stated above, bars have smaller premiums thus more metal for your money.
Yes, As Naphthalene Man says DYODD Dont treat my words as gosple. Silver is CRAZY. Gold is more stable. Buy a bit here. Buy a bit there. Aslo do not forget postage costs. Click on some forum sellers in the top right hand corner & get a feeling for prices. Get some Gold & Silver. Fiat is toast.
Even for the most experienced silver stacker it has been very hard of late to predict silver price moves. However, the fact is that silver prices have been moving upwards at $3 or $4 a week.When will it stop? I certainly don't know. Some are predicting $50oz by the end of the year but it may well be the end of the month. All silver stackers are in the same boat "to buy or not to buy" That is the $50question. What would I do in your situation. First I would buy 9k worth of bullion and expect to pay spot + 5%. I would check out all the sponsors on this site tomorrow and see whats available. I wouldn't wait too long in doing this. Now with the remaining 1k I would keep as a reserve and buy silver coins when you get the chance. You should get 200ozs silver for you 9k. Let's say there is a 10% pull back and silver drops to $37.60. You would be down $600 and now is the time when you hold your nerve. Maybe another week it might recover and go back past it's previous high. It's all a question of if. I never feel certain that I am making the right moves but you have to make a decision. We are all on the roller caster and so far we are still on the rails. It's your call. Best of luck. Regards Errol43
Thanks Errol I plan to keep it for the far future. Can you tell me if it is of benifit to get the small Swiss bars over say a normal 1oz bar. And why coins? Is it more for the collect?
Hi Dusty, it's good to have coins & lower oz bars in the range of 1-5 or 10, mainly incase you need to liquidate some quickly to pay a bill or something in the realms currency. Also, if silver possibly went to say - $100 or $150 in the next 5 to 10 years it might be hard to move a kilo quick, a 10oz or 32x1oz coins to multiple people would sell. Coins have a premium, pamp bars are high quality so they sell above spot. But if hyperinflation really hits, you might be able to get a loaf of bread for some florins or worst case an oz, best to keep some "cheap" silver around.. Just in case! Garry
If I could ask 1 more question please? Rounds... Are they only worth the weight of the silver and that's all ?
Rounds - that is my belief, but then i don't go for numismatics. Keep the premiums low but try to stick with known brands at this stage. Pamps have high premiums that i don't think is worth it.
Most rounds are likely to follow the spot price (plus the regular small minting process premium) and lag behind when compared to the high premium placed on some coins - like Perth Mint lunars etc... that also have a possible numismatic value attached due to limited mintages. In that case they would always be worth less than the high premium coins. But, since you pay less in the first place it may not matter. Some coins that have what might be called semi- numismatic value because of limited mintages (eg: lunars, kooks compared to millions of Am Eagles) or high quality might be worth paying the little bit extra for now because they might return a bit more in the future. Rounds don't have a dollar value on them either, so this may affect the views some have on their value for various reasons. However, some rounds (don't ask me for an example!) may be produced in lower quantities or are less common in Australia and attract a higher price. But many people are becoming more comfortable with buying from the US now, so I guess the scarcity factor will diminish. Technically the 1 ounce PAMP bars are like ''rounds'' but of high quality with a good reputation leading to high demand = high premium. It is worth having a look at Bullion Bourse or Bullionmark where the different rounds and coins are listed and you can see the actual diff in dollars between the products. Check their prices with Perth Mint's online bullion site before you buy and go for the best deal. Also check the site sponsors at the bottom of the index Aurora EL for example, for further comparison. Or even go to APMEX.com and take a look at the large range and develop your own opinion as to why it seems as if some are worth more than others. If you think about making cakes - a square sponge tossed out of the pan onto a plate is much less work than a fully iced birthday cake. Its the same with silver products, so buying bars will seem better value than coins or rounds. However, then liquidity is an issue and you won't get any benefits of incidental numismatic increases over time. Most people have their own preferences and build in a bit of both/all to cover their bases. Good luck!
This sticky post is the best guide I've seen so far and answers your questions http://forums.silverstackers.com/topic-880-buying-silver-in-australia.html Boneyard's post above echoes my thoughts. I'd go 5k/5k gold/silver after deciding what to stack. Some people like variety, some people like just a few type of products. It's easy to get swept up in the craziness. Get hold of the silver gold investing book by M. Moloney http://www.amazon.com/gp/product/04...mp=1789&creative=9325&creativeASIN=0446510998 and look at all the ways to deal with your gold and silver besides bury it in the backyard for 30 years and hope that PMs are still relevant in that version of the modern world (silver might become the bakelite of the future - you never know. http://en.wikipedia.org/wiki/Bakelite and electronic wealth may render gold illegal or irrelevant - again, you never know. If you lean toward an apocalyptic future, then stack the 1966 50centers and smaller gold coins. If you want to start trading then watch this forum for a month or so and learn from some very smart people. If you want to bury it in the backyard for your retirement, then buy 1oz gold coins - see Bakelite above. The hardest lesson I've had to learn, is that there is always another bargain, so use the links above to work out which bargain you want. p.s. http://survivalblog.com/ http://oilprice.com/Finance/the-mar...etals-Clients-Advised-to-Close-Positions.html
First of all i would diversify. 50% gold and 50% silver. The second thing i would think about is what sells best if you want to sell again. In gold i would buy 1oz Lunar II coins, if the premium is not too high for you better 1/4 oz coins. They can be sold quickly because they a beautiful and popular. Silver I only would buy 999 silver no 90% silver. I also would diversify my silver. - small Bars ( not more than 10oz ) or Lunar II 10oz - pure bullion ( maple, libertad, eagle ) these are worldwide popular - some PM Lunars 1oz, kooks and koalas and RAM kangaroos - some Pandas, Britannias Diversify means you have to own different types of silver. If the day comes you want / must sell you can choose which category is the easiest to sell. Do not buy to big ones. Maybe private people do not have power to purchase a 5kg or 1kg bar. Get the light onto the price of silver we all here wish to see in a few years and then look to your 5kg bar. I also would like to own 1kg gold, but not i form of 1kg bar.
You guys are great. I was wondering about buying gold as well bur was unsure. Why say a lunar is more popular than say a kooks after all it is still only 1oz ?
If you spend 5k on $10 silver coins & 5k on $200 coins You'll have face value as a fall back on the gold/silver price
Agree with most Stackers here, nice bunch of guys as well... I would also suggest like spannermonkey Today 07:45:39 "If you spend 5k on $10 silver coins & 5k on $200 coins You'll have face value as a fall back on the gold/silver price" And I've seen pre decimal silver going for spot - 5%... here in several threads, that's very good value ! Enjoy stacking and good luck.
