What to start stacking first?? UK

[BeHereNow]

This has been said before, but bears repeating.
It is easy to find posts above that are spot on, excellent advice, and yet are contradictory.
Don't let this confuse you, it will sort itself out later.
For now, pay attention to spot price, and keep your premiums relatively low.

Here's the thing, several ways to keep your premium low.
Junk silver (50% - 92.5%) has low premium -generally government issued coins from 1965 or earlier.
Large chunks, in many forms, have low per ounce premium - 10oz+ bars, coins, bullion.
Common, high issue, coins have low premium - ASE, Maple leafs, more.
Generic rounds, have low premium.

VAT causes special issues, glad I do not have to deal with it.

Stay away from specialty pieces with high premiums UNTIL AFTER you get your feet wet.
JMHO

 

[Fjpod]

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.

SRSLY??!!

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

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!

And what are you supposed to buy all those stacks with if you don't earn enough disposable income to invest? Under what cardboard box will you live if you don't secure a place to live in first? PMs have their place in protecting acquired wealth. But they can't give it to you in the first place.

 

[Danny-boy]

I guess the way I look at it is this, if I didn't buy silver I would spend my disposable income on stuff I don't need, stuff with minimal resale value in future.

So in my world, it is creating wealth in a way as it's money I would have squandered on rubbish.

I see it like a non-fiat savings account, that may or may not earn me interest, possibly a lot of interest in 20 years.

It's all a gamble.

 

[Shamatti]

Read what Danny-Boy wrote. Makes perfect sense.

The point is there is a huge recession killing jobs, especially well paid ones. No one is saying purchasing PMs is an alternative to working hard, but it is certainly an alternative to the old career ladder which no longer exists for the majority of the population. The middle class is being destroyed, there is no longer any chance for 90% of us to get rich through hard work. So spending disposable income on PMs is the brightest move available.

You overreaction ("Under which box will you live..." - PMSL!) is as ridiculous as your initial comment. If I had started stacking at 22 I would be a VERY wealthy man today, despite having my career ended at 40 due to multiple redundancies. I am far from wealthy today. But stacking will secure what is left of my future.

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.

SRSLY??!!

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

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!

And what are you supposed to buy all those stacks with if you don't earn enough disposable income to invest? Under what cardboard box will you live if you don't secure a place to live in first? PMs have their place in protecting acquired wealth. But they can't give it to you in the first place.

 

[barsenault]

Wow, some good info from everyone. I love all the varying responses, which makes for a good debate, so our friend who is wrestling with this decision, can make the right choice. I started buying about 2010, and since then have collected nearly 2500 oz of Silver, and nearly 10 ounces of gold. My goal is to have 100 oz of gold and 5000 oz of silver. Heck, maybe when I retire, I'll open a coin shop.

All this to say, each person has their own preferences, and those preferences change over time, and you'll stumble across new info, or new coins that you really like. For example, I was really into eagles as my primary, but got rid of all of them a while back (2,000), and when they reminted the kooks, I went all in starting with 1990 to the present, buying 150 oz in some years (my personal favorites, and least expensive): 1998, 2003, 1996 to name a few. I also parked quite a few in the most recent lunar series: horses and snakes. If I was around earlier, surely I would have bought a couple hundred oz of the tigers, but I was too busy losing money in the stock market (never again). I also have a good chunk in Pandas (collectibles too) and Brittanias. And the gold I have is limited mintage. All the purchases I make are limited mintage purchases, and as near spot (or what the price of eagles is) as I can get. Why buy an eagle with 40 million minted, when you can order a 2013 kook, with horse privy for the same price, and the mintage is only 50,000. For the record, I have no 90% silver or generic rounds. Just not my thing, but it may be yours, if not today, someday in the future. One of the mistakes I made, and some times still make (LOL) is buying expensive colored coins. Sometimes I just love the art, but I highly doubt I'll make the money on them down the road vs. Using the money to buy 3 coins for the price of one. But, the artist in me wins out on these transactions. LOL. I also love gilded coins. The last CRAZY purchase I made, even though I'm not a huge fan, is buying 2 spider man coins with the authentic Stan Lee signature (APMEX). Those cost me a pretty penny, and it was a gamble, but one I was willing to take, especially considering he is 91, and when he dies, I'll try selling one for $10,000, for kicks!! LOL. Those are my thoughts, and hopefully like the other posts, it helps you. Start out with what you like, and those interests will change over time. It is a fun journey. Enjoy!!

P.S. In case anyone is wondering, all my coins are stored in a Storeage facility. So don't get any ideas. LOL.

 

[Photonaware]

Crickey - young and poor !
Stay away from PMs until you have a sensible portfolio of other investments. Start with a stocks & shares ISA invested in solid funds like UK Equities. Gold and silver can make up 10-15% of your wealth but having a stack in your current position makes a nice hobby but in my opinion not a smart investment.

 

[barsenault]

Crickey - young and poor !
Stay away from PMs until you have a sensible portfolio of other investments. Start with a stocks & shares ISA invested in solid funds like UK Equities. Gold and silver can make up 10-15% of your wealth but having a stack in your current position makes a nice hobby but in my opinion not a smart investment.

Crickey, nah, stay away from stocks. Maybe put 10% of wealth in stocks...50% or more in PM's. This ain't a hobby for a lot of us. It is taking pieces of worthless paper backed buy squat-o-la, and putting it into real money...money that has been around for 5000 years or more. Stick with what works, not on something that the 1% will eventually take from your fingertips (stocks/IRA). A little fiat in these is fine...but be careful.

 

[the optimist]

Crickey - young and poor !
Stay away from PMs until you have a sensible portfolio of other investments. Start with a stocks & shares ISA invested in solid funds like UK Equities. Gold and silver can make up 10-15% of your wealth but having a stack in your current position makes a nice hobby but in my opinion not a smart investment.

You'll never get anywhere playing it safe, fortune favours the brave !

Granted silver is a gamble but with the possibility for enormous wealth gain.