Debt Free and now Stacking

K

KC9PDX

New Member
Finally got debt free this month. Been taking all my cash out of the bank due to deeding a house back to the bank. Now able to save lots of cash and been thinking of putting it in gold and silver. Took the plunge Friday and bought some silver rounds on sale at Apmex and a turtle round from Nuie. The turtle was for the wife, sort of a peace offering to see if I got into trouble for buying silver :D . So far so good, she liked the turtle so I am free to purchase more silver when I want. I think I will pick some up on a monthly basis. Don't seem to have many dealers locally in the Denver area that I know of yet. Looking to stack so I can leave my kids with something. So much to learn still yet.

KC9PDX
 
Congrats and welcome to the world of precious metals.

As for not having many or good places to buy locally, that's the situation I am in but it's never been a problem for me. I get better deals and pay no state or municipality sales tax when I buy non-local. Also, there's many national dealers that offer free shipping on certain orders so take advantage of that for sure.



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Thanks. I have found most online dealers have a minimum purchase price for free shipping. I did the minimum for free shipping last week just to see how it goes. Should be receiving today the package. If all goes well there should be more purchases in the future. I have been watching YouTube and reading online for about a month now on stacking. Head still hurts :)
 
It's been said before here that new stackers often run around buying everything they can get their hands on and with later knowledge later realise they could have purchased better. I was advised early to settle on a particular strategy and stick to it and it has done me well. Al the same it's not the end of the world as an ounce of silver is an ounce of silver and I am using the rising silver price to at least get my money back for things I now regret buying.
 
PeterS said:
It's been said before here that new stackers often run around buying everything they can get their hands on and with later knowledge later realise they could have purchased better. I was advised early to settle on a particular strategy and stick to it and it has done me well. Al the same it's not the end of the world as an ounce of silver is an ounce of silver and I am using the rising silver price to at least get my money back for things I now regret buying.
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Yes, 1 oz silver is at least worth one ounce Silver but some of them would much more than that.
 
PeterS said:
It's been said before here that new stackers often run around buying everything they can get their hands on and with later knowledge later realise they could have purchased better. I was advised early to settle on a particular strategy and stick to it and it has done me well. Al the same it's not the end of the world as an ounce of silver is an ounce of silver and I am using the rising silver price to at least get my money back for things I now regret buying.
Click to expand...

My plan is to buy a little each month and try to keep cost over spot to a minimum. With that said what do I buy? Do I get into semi numismatic rounds, bars, or go for the coins. That there is why I like to watch others videos and writings. Experience is really keen here. Silver is Silver as far as I know when I try to go sell it. I hope I can get ~spot if I need to sell. I watched a video from a stacker in the UK that shared his pros and cons when he tried to sell his stack in a time of need. From his experience he changed his strategy to only buying Oz coins and rounds cause they were the easiest to unload and best price per ounce. As to semi numismatic stuff, I am at a loss to them, who is to say what is hot today will be hot 15 to 20 years from now. I do not hold that experience with them yet. Will I be able to recover the higher price above spot on them? If only I had an all seeing eyeglass for the future. Hindsight is 20/20 but by the time you wake up and smell the roses its too darn late unless you were lucky enough to purchase the right item. So for now I am sticking to rounds and a few coins that I find fancy, and I do find them fancy, but hopefully time will bless me with good fortune. If not, I figure its still harder to sell my silver than a wad of cash sitting in my pocket burning a hole. :)
 
KC9PDX said:
PeterS said:
It's been said before here that new stackers often run around buying everything they can get their hands on and with later knowledge later realise they could have purchased better. I was advised early to settle on a particular strategy and stick to it and it has done me well. Al the same it's not the end of the world as an ounce of silver is an ounce of silver and I am using the rising silver price to at least get my money back for things I now regret buying.
Click to expand...

My plan is to buy a little each month and try to keep cost over spot to a minimum. With that said what do I buy? Do I get into semi numismatic rounds, bars, or go for the coins. That there is why I like to watch others videos and writings. Experience is really keen here. Silver is Silver as far as I know when I try to go sell it. I hope I can get ~spot if I need to sell. I watched a video from a stacker in the UK that shared his pros and cons when he tried to sell his stack in a time of need. From his experience he changed his strategy to only buying Oz coins and rounds cause they were the easiest to unload and best price per ounce. As to semi numismatic stuff, I am at a loss to them, who is to say what is hot today will be hot 15 to 20 years from now. I do not hold that experience with them yet. Will I be able to recover the higher price above spot on them? If only I had an all seeing eyeglass for the future. Hindsight is 20/20 but by the time you wake up and smell the roses its too darn late unless you were lucky enough to purchase the right item. So for now I am sticking to rounds and a few coins that I find fancy, and I do find them fancy, but hopefully time will bless me with good fortune. If not, I figure its still harder to sell my silver than a wad of cash sitting in my pocket burning a hole. :)
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1ST - YOU NEED TO MAKE SURE YOU GOT WHAT YOU PAID (so many faked/silver plated items around the market)

2ND - It's very easy to turn you from "investment" to "hoppy", shinny things always attractive.

3RD - Be patient, you always receive better deals from forum members (when compared with dealer & Feebay), just need to wait for your deadly shot.

4TH - Be lucky! You might have bought some low premium bars and rounds and found them were marked with "vintage" & "collectable" labels later.
 
If spot goes even further down or goes sideways for years / decades, which could very well happen, then if you are buying generic blobs, you better have a plan that suits that potential scenario and your goals.

At least with semi-numi and numi items, their value is not tied exclusively or at all to the erratic and unpredictable volatility and direction (including long term trends) of the spot price.


So, my point is....perhaps diversification is the best strategy for some people.



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Hi mate!

Welcome to the forums and congratz on being debt free, how light are your shoulders feelings now? :lol:

I'm a fairly new collector so I thought I'd share my limited experience with you! I see buying Silver as a way of forced savings really, I buy small amounts (as regularly as I can) as close to spot as I can get. I also started collecting some sets, just to add a little spice to the hobby. Luna Series, Kooks, etc.. Pandas seemed like a popular coin, so I started collection them with 1.5billion people it seemed a safe bet that there would always be a market for on sale.

I also picked up my first gram of gold recently, but I will be staying away from buying big in gold. There is so much choice and fun to be had in Silver that even a poor young guy like myself can get involved.
 
I focused my early stacking on blobs and common generic bullion coins.

Then I eventually realized that by the time that silver puled out of it's bear trend, I could be dead....so I started diversifying my stack. Now thast I have, I get so much more enjoyment of of buying precious metals products and I don't have to wait for the sot price to go significantly up for me to be able to turn a profit when I find the right buyers.



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