Hi. I have been reading for a week or so and thought I would get a bit closer to the action. My investing background is real estate, which I am still heavily involved with. However I thought a bit of diversification might be in order for wealth preservation in the event of economic chaos. Not sure if anyone has shared this joke before, but... ...Gold walks into the Silver bar, the barman shouts "Au, get out of here..." Anyway, a couple of newbie questions: 1. Is it okay to buy from Perth Mint or is that wrong and I should buy from private dealers? 2. Is the general philosophy, you can buy from the Mint or similar, but you sell privately to capture the big difference between buy and sell prices from the Mint? 3. If you were interested in accumulating silver and had available funds, would you bother buying 10oz or 1kg; or would you simply purchase 100oz bars? Cheers, Agnostic
1. Is it okay to buy from Perth Mint or is that wrong and I should buy from private dealers? Perfectly fine and a lot of people buy from them. Some prefer to deal with private dealers as there's less of a paper trail and they can sometimes give you a better price. You also have Bullion Bourse near the airport which are great to deal with and usually cheaper than the Mint. 2. Is the general philosophy, you can buy from the Mint or similar, but you sell privately to capture the big difference between buy and sell prices from the Mint? Yes, it would be preferable to sell privately before selling to the Mint, they're like a buyer of last resort. Even if you were to offer the metal at spot on the forum, you'd still get more $'s than if you sold back to the Mint. 3. If you were interested in accumulating silver and had available funds, would you bother buying 10oz or 1kg; or would you simply purchase 100oz bars? General consensus from the many 'best size bar to buy' threads I've seen is that the 10oz and 1kg are easier to sell as they're more affordable and so there's more buyers. Depending on where you think silver will be by the time you want to sell will help you decide. I have some 100oz bars as the core of my stack, followed by kilo's and now swaying more to the 10oz as there'll always be more people who can afford the smaller bars. If silver ever hit $150 or some other delightful figure, there will be more buyers for a 10oz bar at that price than a 100oz bar. Ronnie 666 and Golden ChipMunk are 2 Perth members that will be organizing Stacker meetings so keep an eye on the Meetings & Events thread for this. ...and welcome!
Thanks for the welcome messages, and particularly thank you House for the helpful advice, much appreciated. Regards, Agnostic
