Hey there, I'm a young stacker and new to the game. Like most of my endeavours that I've gone at alone, I've relied solely on the internet and scores of reading to get a feel for the market. You can't, however, get all the answers to specific questions that are raised without speaking to real human beings from time to time. So, any help would be much appreciated! 1. To keep things simple, I'm starting out by simply stacking bullion, and holding off treading into the territory of numismatics and the like. So far I've bought relatively cheap gold and silver; mostly new, but nothing too high over spot (I hope). Being a Melbournian I mostly use Gold Stackers, which I've found to be best all round so far (also started off at ABC which I quickly found to be inferior to GS). Gold Stackers, like many dealers I'm sure, offer cheap metals that are circulated/used/scuffed which I haven't touched yet. For some reason I just feel that having the newest metals possible is best. However, they will buy back most PMs at spot, regardless of brand, condition, collectibility (bar the occasional high collectible). Am I wasting my money getting the nicer packaged stuff for looks if I'm simply going to sell it back and lose that premium, or is it better that in case when the time comes, probably many years from now, my selling strategy has changed that I have new, packaged metal? 2. I've looked around at suggestions on what sort of % of savings to invest into PMs, which has ranged from 5-30%. As I mentioned that I'm fairly young and only have savings of, to keep it vague let's say 20-40k. So far I've put roughly 35% of that into PMs, which I know is on the high side, but I feel is being put to better use than sitting in the bank. I don't dabble in the stock market so all of the rest is just in cash, (and a good amount not counted in that 20-40k that's in Bitcoin- laugh if you will. I got in in 2011.) Is this a good figure? 3. I did decide to buy 1oz of Rhodium for $1840, about $340 over spot for obvious reasons, as I feel that being as volatile as it is, it has to go higher than this at some point, and when it does I'll quickly offload it so as to avoid losing all my profit again. Many thanks in advance for the wisdom. Also do a lot of you watch Salivate Metal on Youtube? He is awesome. Jono
Oh, and to add to 1., is it a good idea to pay higher premiums diversifying among coins, fractionals, different weights? Right now I tend to prefer 1kg silver at a time but do have some 1oz.
Hey Teal, Some great tips for newbies here: http://forums.silverstackers.com/topic-49009-stacking-faq-s.html (Thank House) These links will answer qns 1 and 2 (and then some) As for question 3.. Id say don't buy rhodium, platium or plaladium. These metals have very different factors affecting their prices to silver and gold and are far less liquid. Unless you understand these or get lucky, you are best to stick to regular PM's.
Thanks for that bullbear, and cheers for the rhodium advice. I am however asking because after reading scores of articles and forum posts I don't have the exact answers to my questions and I was hoping someone could advise me specifically.
I really can't find much in the way of anything that answers 1 or 2 specifically. Could someone offer any advice?
