Well, where does one start?

[Gorseinonboy]

I'm sure new members generally ask themselves why they are doing this particular thing of getting into collecting, seeking knowledge, investing in the interesting but difficult markets of coins, bullion and all things related. I'm so new to the idea that I've not formulated any preconceptions nor prejudices. I have some time on my hands being retired and I've decided to do a little investing in my old age. This may take the form of the stock market or of collecting things: e.g. Coins, stamps, bullion bars. Who knows and even, more importantly why? I know these are very personal decisions, by the way and since there is money involved have to be taken with a degree of seriousness. In time and after listening to advice and reading a lot I'm sure I will settle on a particular journey.

But, as I'm setting out I'd appreciate some help, advice as to what others have done and why. I'm very late coming to these matters........

[Agpanda]

Hello and welcome to the forum

A good start is to read back as there is a lot to learn

There are even a few beginners videos done by forum member

They will post them for you

And again, welcome

[Gorseinonboy]

Thanks for the suggestion. I'll glance back at previous postings. Cheers....

[Pete]

For what it's worth -

Stamp collecting
My cousin was a serious stamp collector and has marvellous collections of stamps in pristine condition, franked, unfranked and first day cards.
He has complete collections in beautiful albums etc.
Thousands of stamps catalogued for his children collected over 50 years.
When he went to get a valuation he was shocked to learn that there would be little to no interest and he should donate his collection to a charity shop.
Ten years ago maybe his collection would have fetched thousands of pounds.

Stock Market
My experience goes like this - after some research buy shares from a Company that you believe is undervalued or about to see a rise in its share price.
Sell perhaps a few months later after taking a nice profit and buy something else hoping to repeat.
After winning several trades in sequence you are on a roll BUT along comes a killer stock that drops 20% overnight and never recovers wiping out all your accumulated gains. Personally I avoid nowadays and invest in funds rather than individual shares.

Precious Metals
This is where you have most fun especially on this forum.
Not necessarily a smart investment but more of a hobby and certainly a diversification in a portfolio.
Can become extremely addictive so be warned.

 

 

[Gorseinonboy]

Pete,

I'm grateful for your reply which is certainly a means of bringing me into the realm of common sense. I think your view will definitely shape and influence my general approach. I think I'd already come to the conclusion that I wasn't about to become rich off an interest in any of the potential investments. Rather, my thinking was that given  say a five year period I would at least come out even or with a little profit. One of the motives in getting involved is to provide an interest and something that might stimulate a fairly lazy mind.

Two of my grandchildren are arriving tomorrow for a holiday and I'm going to test their opinion concerning starting off a stamp or coin collection which we might be able to develop together. No intention of making money, merely enjoying ourselves, getting acquainted with the process of collecting and hopefully learning about history, geography and finance along the way. I'm shocked about what you said concerning your cousin's stamp collection. Given his obvious seriousness you'd think he'd have a very reasonable return over a period as long as 50 years!

i've held shares in the past mainly paid as part of my remuneration. I can recall getting over £10 per Lloyds Bank share a decade or more ago. They are now priced at about 65p! As the market advice goes: shares can go up or down!

So, there's plenty to ponder and I hope, some fun to be had!

Thanks for all your advice and insights.

[Roy]

Welcome to the forum! Great introduction, thanks.

Personally, I'd stay clear of any investments that carry risk. We're of similar age, worked hard for our wealth and we need to protect it!

To that end, and it's a decision that I follow, I recommend holding gold. Which form is up to you and your pocket.

Please remember, before dipping one's toes into precious metals, one should always develop a clear exit strategy.

I hope you enjoy your new hobby 

 

 

[Agpanda]

If you are after something to collect that keeps its value I can point you at Pandas

You can check my homepage to get a small glimts of what a collection can be

I only collect the standard issues with variations

Thare are also a hole world of showcoins, and more like that

Do a search for graded pandas on ebay and see whats coming up

Standard pandas MS70 from 2013 - 2017 you can find for 35 45$/each and are a good start

Stay away from ungraded unless its not from any of the big company ie Apmex or MCM

There are 10 fakes on every legit ungraded, so until you learn to see whats fake just stay clear

Also you need the panda book, It´s my bible, and I still use it every week atleast

The book can be purchased from: www.pandacollector.com/
My site is: www.agpanda.com

Good luck with whatever get you going

[Kman]

Hello and welcome

You might like to check out this thread

 

[Gorseinonboy]

3 hours ago, Roy said:

Welcome to the forum! Great introduction, thanks.

Personally, I'd stay clear of any investments that carry risk. We're of similar age, worked hard for our wealth and we need to protect it!

To that end, and it's a decision that I follow, I recommend holding gold. Which form is up to you and your pocket.

Please remember, before dipping one's toes into precious metals, one should always develop a clear exit strategy.

I hope you enjoy your new hobby 

 

 

Hi Roy and thank you for your advice......

I am of that certain age when wisdom and grey hair should be the ultimate combination. I have plenty of the latter.....

Your reminder therefore of not taking too much of a risk may be a timely and wise precaution since I'm heading for a particular exit strategy and it wasn't the one you meant. I suppose we all have to be mindful of our age when one is in the 70s!

i suppose the strongest advantage of gold is that it is inflation proof and from that point of view less risky. You don't advocate a mixed approach then? Some shares, some gold, some property etc etc? I ask only because that seems to be the mantra of the financial advisers I see on TV programmes.

[Roy]

Morning,

Yes, I am an advocate of a mixed portfolio, but the risk percentage must be inversely proportional to our increasing age!

When I wore a younger man's clothes, I had a healthy appetite for risk because I knew that even if it all went pear shaped, I had the TIME to recover, to learn from my mistakes and bounce back. Now, I am not afforded that luxury.

I have a healthy portfolio, created over many years with successes and losses along the way. I don't take risks any more, although I do have a minor interest in the p2p sector which keeps my mind alert.

 

 

[Gilver]

Hi and welcome

[Shoba]

Hello and Wecome! 

I don't look at buying PM's as an investment but more as a savings for myself. When I buy Silver bullion I get the satisfaction of "buying" something that I enjoy but in reality I really just bought and saved wealth. I look at it like this I can easily go to Wal-Mart, local bar, ect. and drop $100 without thinking twice about it, but if my money is tied up in PM's it's much harder to take a piece of silver and just spend it as there is a process to turn it into fiat, not that I couldn't but makes me think twice about why I actually need the $. So long story short its a fun way to create a savings for myself and my family! Hope this helps. 

[Gorseinonboy]

On 28/08/2017 at 22:15, Kman said:

Hello and welcome

You might like to check out this thread

 

Kman........I've been involved with the grandchildren for a few days, but took your advice to look at the thread. I found it intriguing and it started to take me in all sorts of directions. I didn't do some of the comments and advice justice given the need to bus the grandkids here and there but when we take them home today I'll rejoin the thread to get more detail on board....thank you for pointing me to this thread....

[Gorseinonboy]

On 29/08/2017 at 23:54, Shoba said:

Hello and Wecome! 

I don't look at buying PM's as an investment but more as a savings for myself. When I buy Silver bullion I get the satisfaction of "buying" something that I enjoy but in reality I really just bought and saved wealth. I look at it like this I can easily go to Wal-Mart, local bar, ect. and drop $100 without thinking twice about it, but if my money is tied up in PM's it's much harder to take a piece of silver and just spend it as there is a process to turn it into fiat, not that I couldn't but makes me think twice about why I actually need the $. So long story short its a fun way to create a savings for myself and my family! Hope this helps. 

Thanks for your welcome. It does help because you've introduced the idea of a solid commodity and wealth versus day to day spending. I've noticed something quite odd in my thinking over the last few months as I've begun to think seriously about what/ where to invest etc. Every time we're out and about and we're thinking of buying new clothes or a meal or a present for a member of the family....buying stuff....a little trigger has gone off in my head and my 'other' self says.....hang on .......you could buy a small silver coin for what you're about to spend on something relatively frivolous . Coin versus new shoes, daddy versus chips!! 

Am I changing? Who is this new self? Who will win? Which Gollum will preside? Will my wife get a small minted bullion bar for Xmas or a trip to St Tropez?