Hi all, Thought this might be a useful place for the more seasoned stackers to impart their wisdom/knowledge for the newer members. So please feel free to add any tips / pointers you wish that you had known when you first started stacking. So here goes ... Useful Silver Tip #1: Buy when POS (price of silver = spot) low and Sell when high - not the other way around Some here advocate cost averaging, which means buying a little each week/month/pay, regardless of the price. Useful Silver Tip #2: Spot price does not always equal silver coin/bar price. Each coin/bar has different manufacturing/finishing costs, so generally cast bars will be cheaper than minted bars, which in turn will be cheaper than coins/rounds. Also need to factor in limited mintage (rarity) and consumer demand into the prices. Always good to do a search on ebay (and check Completed listings) to get an idea of prices ie So if you want to buy your silver at or around spot price, dont expect to buy many (if infact any) Kookaburras or lunars. Useful Silver Tip #3: Do not store your silver in PVC bags - this will lead to rapid tarnishing of your silver. Silver will also tarnish if exposed to sulphur in the air, so some stackers prefer to store bars etc in plastic (cliplock type) bags. OK thats it for now .. Hope that helped some of the newer members
Useful Silver Tip #4: Avoid "100 Mills", "German Silver", "Tibetan Silver", "Silver Plate", "Silver Layered" All are either a mixture of different metals or copper covered (Plated, Layered) with silver Someone else might want to add to this one
.... and completely worthless .... even if they also say 999 silver / gold / platinum So DO NOT BUY any bullion that includes any of the above terms (It is NEVER a bargain - even though it may look that way, if its after 1AM and you've had a few drinks)
[bold]Useful tip #5:[/bold] Buying directly from Mint does not guarantee cheaper price. In fact, most online dealer has better price than Mint directly.
useful tip #6 Get a silver test kit and test your silver. There are a lot of fake stuff around and you need to know what you are buying even if it is from a reputable dealer..
Hope you dont mind me adding ... A lot of dealers have XRF machines (X-ray fluorescance I think) for testing PM's. If you ask nicely, they will generally test your piece free of charge.
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Thankyou AU-MAGEDDON for a level headed post. I can't believe some of posts shared on this forum let alone some of the childish responses left behind. A nice lot of tips guys. Regards
Start slow cos more than likely you'll be making poor decisions and wont understand the market you are buying into. Dollar Cost averaging covers this but also up-skill knowledge if you dont want the "simple silver' investment like 1 kilo bars. 1for1
My tip for new stackers is to buy 66 fifty rounds.. Spot price divide by three, add fifty cents to $1 a coin and your on your way..If you can afford to buy in bulk well and good but if you are only able to manage $20/30 a week, then 2 or three additions a week doesn't take long to build into a good stack. If you over extend, they are quite easy to sell here on SS at good prices! Regards Errol 43
Buy silver when people on this forum are bitching about why it isnt going to the moon. sell when people are excited and say its going to the moon. if youre investing in silver stay away from numismatics. Leave that to coin collectors. junk silver, bars, and low premium highly recognizable rounds and coins should compose the bulk of your stack. learn about the gsr and use it to decide when and what to buy or trade. dont just buy silver remember its noble cousin gold. theres nothing wrong with profit taking chances are silver isnt going to the moon over night the ups and downs can be a good way to increase your stack.
Use only Platinum Express postage when sending stuff in Australia. Remember it is less than $20 for that peace of mind. Or in my case, untill you lost a parcel then you will appreciate it
always/only ever buy under the 200dma If your starting out do not purchase the cheapest silver out there, by recognized and buy value... NOT CHEAP
200 Day Moving Average. really just helps to stop my instinct to chase the price up which usually ends in tears (little silver ones )
