What to start stacking first?? UK

B

brummydave

New Member
Hey guys im a new member on here and glad that there are other people out there that i can reach out to for advice.

Ive recently been thinking about how to go about saving/investing my money for the future and over the past few weeks have decided that silver is what i am going to do rather than keep my earnings in the bank.

I am going to buy my first lot at the end of the month and just want advice on what is the best option/road to take with physical silver. e.g bars/coins/sizes also if i can get round the pesky tax man hahaha

Im 22 now and have checked out the gold;silver ratios historically plus the silver;labour ratios plus the impending extinction and decided i want in. I am also aware that this very well might be misinformation put out there to make me buy, maybe im overthinking it haha.

i earn a very low wage so really cant afford a lot but my understanding is that now it is very cheap and hopefully over the next 6/7 years i will have a fair old stash :P

Im very new to all of this and i am a sponge for knowledge any advice is very much appreciated :D :D
 
welcome.

some mistakes i made.

not knowing if i wanted coins or bars.

buying too many of one type of coin straight away - too this effect i have noah's arks and brittanias, more than i care too of one type. so if you want a couple of each pm me.

work out if you want to accumulate silver by weight or by something collectable like numis or semi numis.

hitting buy before doing my research.....

falling in love with collectors coins. there will be one coin and it will just get ur heart, and you will want it so bad, you don't care if its 100 for an oz.
to this affect, your investing your wealth not a coin collector.

those are my mistakes... some expensive, some not too worrying, some i regret.
 
^^^
what he said.

Just buy a little bit...until you get a 'feel' for what suits you. There's plenty of time.
 
If you want to keep tax liability's low, buy gold which is VAT free.
Investing, collecting or bit of both?
 
ASEs.

easily negotiable in a car park, easily recognised, nice small amount to carry around in your pocket. Two or more will buy a weeks groceries.

10oz bars.

Pays bigger bills, not too big, or too heavy.

1kg bars.

Heavy, valuable, pays the BIG bills/debts, and maybe a deposit on a house in 10 years time.


JMO


OC
 
You'll find a lot of different theories here and none are right or wrong as long as they work for you. Ag-man likes large bars. I on the other hand like 1oz coins. I like to buy a little bit as I go; maybe a coin or two a week (up from the coin or two a month as i had planned when i started). That fits my lifestyle and my interests. I'd love some big hulking bars but they just aren't in the cards for me right now. What ever you choose I hope you enjoy stacking. It has already made several positive changes in my life so I am very happy with it.

I don't know much about VAT and taxes in the UK (other than I hear they are rather high). I wonder... could you purchase VAT-free gold and then trade some gold for silver without having to pay any taxes? Might take a small hit on the trade but still make out better than VAT!?

Cheers,
Chris
 
I'm new to the forum and to stacking but I have decided to be somewhat diversified. I own Junk silver coins, bullion coins ASE's and ATB's and Silver bars. Need to grab a few more bars next purchase. I'm partial to the ATB coins the most but you will find your liking in one type more than another I'm sure. Good luck and Welcome
 
SilverKendo said:
You'll find a lot of different theories here and none are right or wrong as long as they work for you. Ag-man likes large bars. I on the other hand like 1oz coins. I like to buy a little bit as I go; maybe a coin or two a week (up from the coin or two a month as i had planned when i started). That fits my lifestyle and my interests. I'd love some big hulking bars but they just aren't in the cards for me right now. What ever you choose I hope you enjoy stacking. It has already made several positive changes in my life so I am very happy with it.

I don't know much about VAT and taxes in the UK (other than I hear they are rather high). I wonder... could you purchase VAT-free gold and then trade some gold for silver without having to pay any taxes? Might take a small hit on the trade but still make out better than VAT!?

Cheers,
Chris
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VAT is 20% on silver 0% on gold. royal mail is a bloody B too so you lose out 13% before shipping, hence ebay isn't the place to be.

oh dave, set yourself a target and stick too it. don't over buy unless you find a deal with its pants down by its ankles and ready to be had. and even then take it off your quota.

don't by with money you don't have.

stay away from rounds, semi-numi and numismatics are just as cheap, and easier to get here in the uk.
 
Crazy hippo i might take you up on that offer if the price is right :P

Ice man that is the only thing at the moment which is causing concern 13 spot but 20 plus to buy, the darn tax man like we don't pay enough on everything else!!

Ag man the thing id be worried about with bars is buying a fake, id be devastated to find out id bought fake gold lol i imagine it would be a bit harder to fake coins?

I have thought about gold but then when it gets back to that ratio i cant help but think if it was that before hey why cant it be like that again. I also thought what if it does reach that ratio again? but just through gold the gold price dropping???

I think im just over thinking it way too much, the money im going to be spending on it is basically the money i would have spent beer and pizza anyway haha so its better than that in the long run!!

thanks for the information and advice guys much appreciated!!

BD

ps- what does ASE and ATB mean american silver eagle right ??
 
Ag man the thing id be worried about with bars is buying a fake, id be devastated to find out id bought fake gold lol i imagine it would be a bit harder to fake coins?

***bought fake silver*** lol

BD
 
Buying from a local trusted dealer over there in the UK should put any 'fake' fears to rest. Is ebay and the secondary market where they are most likely to pop up.
 
Look at the long term.

There is no problem buying gold or silver and then seeing proces drop a little as you are investing for the future, not for tomorrow. Don't sit and wait a week for a slightly better price, when you do the maths you find it wasn't worth it for the 50p you saved! lol

By stuff you like. That always helps :) And stick with the lowest premium you can find. Also look out for deals from Europe, as we are all part of the big EU family there is no tax to pay if you bring it in from a country with less VAT then the UK - like ANY country! lol

Tubes of coins are good as you can always make a good profit splitting them and selling them separately on ebay. Small bars are good if you are on a budget.

In a SHTF scenario all silver is your friend. Junk coins with 50% silver or above will be brilliant for bartering. I would have some of that in your stack too, just in case.

I have mixed and matched bars coins and silver and gold.

Don't buy a safe from B and Q or wherever and keep your stuff at home. Even if you bolt the safe to the floor they are so easy to get in to - I could crack one of those open in 10 minutes. 5 if I didn't mid damaging it. A safety deposit box is your friend! If you can't afford the extra expense, then build a fake back in a cupboard and hide your safe behind that.
 
Hmmm....I guess there is always one contrarian in the crowd. At age 22, your best shot at accumulating wealth is to work at a higher paying job. It helps if it is something you have a passion for.

Buying silver or gold when you don't have an established career with good potential ahead, or a home, is not going to get you there. For the most part, on the lower end of buying PMs, you are paying retail from somebody that pays wholesale. It is lose-lose.

That being said, collecting and stacking PMs can be fun and is not the worst way you can spend your spare cash. You could waste it on wine, women and song.
 
iceblue said:
If you want to keep tax liability's low, buy gold which is VAT free.
Investing, collecting or bit of both?
Click to expand...

Perhaps look at 1/10th oz gold coins, 1 gm, 2.5 gm and 5 gm gold bars.

Might be good to start with PAMP, Perth Mint, Canada Mint, Austrian Mint.

You'll get some pretty coins and bars and keep at a premium fairly close to spot.

Gold seems to be the go in the UK for tax reasons.

Buy make your own inquiries about tax and be sure you've got it right.
 
Hi Dave, I'm a fellow Brummy.

I'd be happy to help you with anything, I have been stacking for about 12 months but was a coin collector before that.

You are lucky to be in the town with the biggest monthly coin fair in the UK, at the motorbike museum. High prices generally but some bargains to be had.

If you are looking for semi-numi, I have some slabbed eagles for sale.

Good to see a fellow Brummy on here.
 
PS, you can get VAT free silver from Estonia, that's generally where I buy from. It's a high mark-up, but cheaper than anywhere else.

Atkinsons Bullion in Sutton are fairly cheap to, great service.

Don't worry about VAT on silver, if you sell on eBay you get it back as nobody can buy it without vat anywhere.
 
Fjpod said:
Hmmm....I guess there is always one contrarian in the crowd. At age 22, your best shot at accumulating wealth is to work at a higher paying job.
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SRSLY??!! :mad:

These days this is the worst advice in the world, brother! LOL :lol: :rolleyes:

Have you actually looked at the world outside your window. What jobs? Where are they? You seem to be living in the past. I was doind a job I adored for years, ended up as a very senior IT manager running a global network. I got made redundant time and time again, and although I should be wealthy now, I am very far away from it. There is no more job for life, there is no more work hard at your career and get wealthy as you get older. Unless you become a banker, even then you need to be in the right crowd/class before you start just to get a foot in the door.

Stack! Stack I say! Your only chance of surviving the crashes to come (Which at 22 you are certainly going to see even if an old codger like me does not) is to have a big stack! Pile it high while you can dude! Buy low premium fractional silver and gold, then if you can afford it later start adding 1oz bars and coins, then larger bars like 10 Oz (A Stackers favourite size) and a few bigger when you can. It might just be your saving grace one day! ;)
 
I'll throw my opinion into the ring. I started stacking silver about five years ago in the throws of the economical downturn of 2008. I bought my first American Silver Eagle, I like the weight of it, the design was pleasant to the eye. Right than and there I was hooked. I purchased ASE's like no tomorrow. Branched out into Canadian Silver Maple Leafs, Libertads, and some Australian Kookaburra and Koalas. But found that I was paying a high premuim for these pieces and had no US 90% junk to my stack. I asked myself am I into stacking for the high cost beauty pieces or am I into stacking for the prospects of a silver shortage. Well I am the latter. The more ounces the better at a cheaper premuim is how I approach stacking. Again this is my strategy. What works for me might not work for you. The consensus of collectors of the finer silver pieces say that the premuim they pay today they will recoup tomorrow. Well when the SHTF, and all fiat is deemed worthless you'll be buying the staples of everyday life with silver and gold and it won't matter what shape or form it is in. I'm not one of those "the sky is falling" people. But why take chances. Besides the other reason is to leave something for my two daughters. When I pass I know my daughters will be better off because of what I did today. That is why I buy less premuim precious metals. Just my two cents.
 
Danny-boy said:
PS, you can get VAT free silver from Estonia, that's generally where I buy from. It's a high mark-up, but cheaper than anywhere else.

Atkinsons Bullion in Sutton are fairly cheap to, great service.

Don't worry about VAT on silver, if you sell on eBay you get it back as nobody can buy it without vat anywhere.
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That Estonia story seems to be one from a past, end last year I took a look and their coins were more expensive than buying them locally, with tax haha.
In Belgium they can sell without tax. For ex, in Netherland a kilocoin now has a 640 euro price tag, while in Belgium it's 594 euro. That's 6% difference.
I sometimes wonder why UK and other people talk about the Far EU East (heh) while the VAT free sits under their nose and they don't talk about. :D
Not that I recommend buying them now eh, spot is hardly a reference to trust, just look at the price flucs!
 
I still use Estonia, right now I can get 10x2014 maples for 175 delivered.

I know nowhere cheaper.

Please let me know if you do.
 
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