Beginner questions

I don't think having a wide collection of years will mean much in itself, but in 20 years, maybe we learn there was a shortage of 2016's for a strange reason. The value of those could go up because now they are collectors items in addition to being 1 oz of silver.

In truth, I buy the current year because that's what's available.

And anonmiss is right, plan on shipping to be $10-$20 for your order, no matter where you go. Also, some places charge a premium if you pay with a credit card. You can mail them a check, or pay a few dollars at a bank and get a Money Order and save this fee. Some places also require a 5% hold on a credit card, but refund it once they get your check.

So read carefully as you check out. Al of the big places, scottsdalesilver, goldmart, providentmetals, apmex, will let you see your price (based on how you are paying) and shipping before you actually pay.
 
goldpelican said:
whinfell said:
Please learn to use the 'Search' function - all these questions have previously been asked - and answered!
Click to expand...

No offence, but this sort of response to new members is not exactly helpful or welcoming - there's a number of people that do it, so sorry for picking on this example.

The search function on here is pretty basic, it's great for trying to find an old post that you know about or search on a specific keyword, but a search on "coins or bars" isn't going to return anything useful.

There's a wealth of information on the forum already - but sometimes encountering it is a case of picking a subforum and wading back through old threads.
Click to expand...

Fair enough - apologies to the OP, GP, and others.

Note to self: ensure you've finished your morning cup of coffee before responding to new members :/

That said ... these sorts of questions get asked frequently - do we need something like a "New stackers start here" sticky??
 
goldpelican said:
whinfell said:
Please learn to use the 'Search' function - all these questions have previously been asked - and answered!
Click to expand...

No offence, but this sort of response to new members is not exactly helpful or welcoming - there's a number of people that do it, so sorry for picking on this example.

The search function on here is pretty basic, it's great for trying to find an old post that you know about or search on a specific keyword, but a search on "coins or bars" isn't going to return anything useful.

There's a wealth of information on the forum already - but sometimes encountering it is a case of picking a subforum and wading back through old threads.
Click to expand...

I can attest to that, I've was lurking here a good month at least before signing up and I searched high and low.

There is a lot of great info on here but without knowing the slang, abbreviations and such, it can be hard from a newbie POV, speaking from my experience. Not to mention the odd joke thread that can catch you out.

More than many others though, I believe this forum is a great place to spend time trading knowledge.
 
Sorry to go against the PM (Precious Metals) party but I'd suggest that at your age with that much savings you should hold on to those savings in cash.
Keep saving and continue learning about investing. Your first goal should be to buy a place to live in.

The only reason to go and spend your money on silver is if you would otherwise blow the money on something else.
 
whinfell said:
goldpelican said:
whinfell said:
Please learn to use the 'Search' function - all these questions have previously been asked - and answered!
Click to expand...

No offence, but this sort of response to new members is not exactly helpful or welcoming - there's a number of people that do it, so sorry for picking on this example.

The search function on here is pretty basic, it's great for trying to find an old post that you know about or search on a specific keyword, but a search on "coins or bars" isn't going to return anything useful.

There's a wealth of information on the forum already - but sometimes encountering it is a case of picking a subforum and wading back through old threads.
Click to expand...

Fair enough - apologies to the OP, GP, and others.

Note to self: ensure you've finished your morning cup of coffee before responding to new members :/

That said ... these sorts of questions get asked frequently - do we need something like a "New stackers start here" sticky??
Click to expand...


Yes!
 
1. I strongly disagree with the statement that "The only reason to go and spend your money on silver is if you would otherwise blow the money on something else." Hoping spot will rise and serve as a hedge against inflation is a valid reason (whether well-advised or not). Worries about currency collapse is another. Distrust of financial institutions is another. Wanting to sock away inheritance value for heirs that won't have to go through the estate process and be subject to having the lawyers, courts, judges and other parasites and carrion-eaters bite off half of the value that enters their system is another. Desire to collect aesthetically pleasing and valuable objects (and not being turned on by stamps or baseball cards) is another Etc, etc, etc -- ad infinitum. There are many reasons to stack silver that don't involve avoiding blowing money on something else.
2. I also have to disagree with the statement that "Your first goal should be to buy a place to live in." When you're only 17 years old, buying a place to live in is extremely premature and not a sensible or realistic "first goal." How about finishing high school and college? If not college, how about getting a decent career established before you go trying to buy a house?
3. Stacker55---I think buying that tube of 20 ASEs for a starter is a solid idea. If you need the money back later on, you'll be able to EASILY sell them for nearly all (or with luck maybe even more than all) of the money that you paid for them. Plus -- in the meantime -- you won't be tempted to blow that money on Justin Bieber t-shirts. I think you've got a good game plan in place. Stick with it.
 
Fat Freddy said:
1. I strongly disagree with the statement that "The only reason to go and spend your money on silver is if you would otherwise blow the money on something else." Hoping spot will rise and serve as a hedge against inflation is a valid reason (whether well-advised or not). Worries about currency collapse is another. Distrust of financial institutions is another. Wanting to sock away inheritance value for heirs that won't have to go through the estate process and be subject to having the lawyers, courts, judges and other parasites and carrion-eaters bite off half of the value that enters their system is another. Desire to collect aesthetically pleasing and valuable objects (and not being turned on by stamps or baseball cards) is another Etc, etc, etc -- ad infinitum. There are many reasons to stack silver that don't involve avoiding blowing money on something else.
2. I also have to disagree with the statement that "Your first goal should be to buy a place to live in." When you're only 17 years old, buying a place to live in is extremely premature and not a sensible or realistic "first goal." How about finishing high school and college? If not college, how about getting a decent career established before you go trying to buy a house?
3. Stacker55---I think buying that tube of 20 ASEs for a starter is a solid idea. If you need the money back later on, you'll be able to EASILY sell them for nearly all (or with luck maybe even more than all) of the money that you paid for them. Plus -- in the meantime -- you won't be tempted to blow that money on Justin Bieber t-shirts. I think you've got a good game plan in place. Stick with it.
Click to expand...

+1

Nicely said! Especially the Justin Bieber stuff! Haha.

I am 42 now and I look back with great shame and sadness at the crap I bought in my youth. Monster car stereo, Monster home theatre, over five thousand comics, hundreds and hundreds of DVDs and Blu Rays, dozens of cars...and each time I bought I immediately lost money. I NEVER got even close to half my money back from those things when I went to sell them.
Had I even spent 25% of all that money on silver, I would be absolutely set right now.
 
Fat Freddy said:
1. I strongly disagree with the statement that "The only reason to go and spend your money on silver is if you would otherwise blow the money on something else." Hoping spot will rise and serve as a hedge against inflation is a valid reason (whether well-advised or not). Worries about currency collapse is another. Distrust of financial institutions is another. Wanting to sock away inheritance value for heirs that won't have to go through the estate process and be subject to having the lawyers, courts, judges and other parasites and carrion-eaters bite off half of the value that enters their system is another. Desire to collect aesthetically pleasing and valuable objects (and not being turned on by stamps or baseball cards) is another Etc, etc, etc -- ad infinitum. There are many reasons to stack silver that don't involve avoiding blowing money on something else.
2. I also have to disagree with the statement that "Your first goal should be to buy a place to live in." When you're only 17 years old, buying a place to live in is extremely premature and not a sensible or realistic "first goal." How about finishing high school and college? If not college, how about getting a decent career established before you go trying to buy a house?
3. Stacker55---I think buying that tube of 20 ASEs for a starter is a solid idea. If you need the money back later on, you'll be able to EASILY sell them for nearly all (or with luck maybe even more than all) of the money that you paid for them. Plus -- in the meantime -- you won't be tempted to blow that money on Justin Bieber t-shirts. I think you've got a good game plan in place. Stick with it.
Click to expand...

Read the whole post. I said the only reason for a 17 year old with $500 in savings should be buying silver is if they would otherwise waste the money on something else.
I didn't say that applies to everybody - just to someone at that stage in life.

Looking to protect $500 from inflation or a dollar collapse is a waste of time.
At that age they will have plenty of future years to earn money in whatever new currency may emerge in the future.
And why would a 17 year old be thinking about putting things away for their heirs ????
Your reasons are more relevant to a 60 year old about to retire with life savings to protect - not a 17 year old just starting out.

And I never said to rush out now and buy a house and not finish college or get a decent career.
They should obviously get on with whatever their education/career plans are.

Developing a mindset of saving and investing is the most valuable asset Stacker55 can obtain at this stage in life.
 
1. Trew--- I did read the whole post, but OK. I'll agree to undisagree with you, but only half-way. You did say "...at your age with that much savings you should hold on to those savings in cash." I'll yield that point and agree with that one. But---you also said "Your first goal should be to buy a place to live in. The only reason to go and spend your money on silver is if you would otherwise blow the money on something else." I see those as separate, independent and absolute statements that I don't agree with. However -- I'm not getting into a "whizzin' in the wind" contest here, so I'd like to consider this one closed somewhere in the fog around the middle ground. On another point -- you interestingly contrasted the thinking of a 60 year old and a 17 year old. I used to be the latter, now I'm the former and at this point I honestly think hybridizing the thinking of those two perspectives would yield greater wisdom than either perspective has by itself.
2. Scott McG---When I was 17 to 21ish, many of my purchases weren't even as good as the ones you made. Mine included a big emphasis on intoxicating beverages, herbs and fast young women of limited virtue. Nonetheless, when I look back at it all I just laugh, sigh and wish I hadn't been so damn dumb at the time. In short, I suspect you and I are a lot like many other guys (or at least the ones who'll be honest and own up to the truth)...

Bottom line---I truly wish I'd started stacking with 15% of every penny I made starting at age 17. If I'd done that my present worth would be beyond anything I can even imagine right now. According to the Kitco historical charts, silver spot was around $2 when I was 17. I don't know whether to laugh or cry when I think about that.
 
Fat Freddy said:
1. Trew--- I did read the whole post, but OK. I'll agree to undisagree with you, but only half-way. You did say "...at your age with that much savings you should hold on to those savings in cash." I'll yield that point and agree with that one. But---you also said "Your first goal should be to buy a place to live in. The only reason to go and spend your money on silver is if you would otherwise blow the money on something else." I see those as separate, independent and absolute statements that I don't agree with. However -- I'm not getting into a "whizzin' in the wind" contest here, so I'd like to consider this one closed somewhere in the fog around the middle ground. On another point -- you interestingly contrasted the thinking of a 60 year old and a 17 year old. I used to be the latter, now I'm the former and at this point I honestly think hybridizing the thinking of those two perspectives would yield greater wisdom than either perspective has by itself.
2. Scott McG---When I was 17 to 21ish, many of my purchases weren't even as good as the ones you made. Mine included a big emphasis on intoxicating beverages, herbs and fast young women of limited virtue. Nonetheless, when I look back at it all I just laugh, sigh and wish I hadn't been so damn dumb at the time. In short, I suspect you and I are a lot like many other guys (or at least the ones who'll be honest and own up to the truth)...

Bottom line---I truly wish I'd started stacking with 15% of every penny I made starting at age 17. If I'd done that my present worth would be beyond anything I can even imagine right now. According to the Kitco historical charts, silver spot was around $2 when I was 17. I don't know whether to laugh or cry when I think about that.
Click to expand...
That is a post that can only be written from experience & hindsight ....if only we could get it beforehand we'd all be rich
 
My hindsight is absolutely stunning, isn't it though? Regrettably, I have yet to get those pesky damn foresight and insight things ironed out...
 
I myself am only 18 and have just started stacking this past month or so, I'll have too disagree against that post about not bothering investing 500 dollars in silver. Everyone has too start somewhere don't they? better too start young then wait till your 40 and realised you missed out.
 
I think if you are on these forums you obviously have a wish to get into Silver or Gold in some way.

Perhaps a good trade off, without diving right in at a young age, would be to spend an ongoing 15-25% of your free cash on PMs?

Maybe $500 is a good starting point but I don't think anyone should lock all of their cash into one avenue, no matter how much faith they have in it.

/my 2c
 
Scott McG said:
I am 42 now and I look back with great shame and sadness at the crap I bought in my youth. Monster car stereo, Monster home theatre, over five thousand comics, hundreds and hundreds of DVDs and Blu Rays, dozens of cars...and each time I bought I immediately lost money. I NEVER got even close to half my money back from those things when I went to sell them.
Had I even spent 25% of all that money on silver, I would be absolutely set right now.
Click to expand...

I am 30 and I also looked back at what I spent my money on in my early 20 when I had a easy quick money job at that time. I also bought hundreds and hundreds of DVDs and books (not comics) and clothes. I guess it was the mentality that these physical possession would make me happy and some of it did but as I look back at it now, it was an addiction. Now I am trying to sell the DVDs and I be lucky to get $2 a movie so I just keep them. The only good thing I did during that time was purchase a condo (market was very low back then :) )

But at that young age I would invest on a trade such as a plumber, heavy equipment operator, appliance technician (washer/dryer, dishwasher, etc.). Jobs that will always be in demand. I personally think "College is a Scam" (see the YT video) especially in the USA. So many people my age with bachelors are unemployed or working at a job outside their field. Get yourself a good steady income first then start putting your money into investments whether it be PM or Fiat.
 
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