Any tip for new silver stacker

[Min]

Hi all, 

I am new to silver stacking and I doing silver stacking as an investment, hoping to sell for profit in the future or sell some silver to buy some gold coins in the future. 

Now, I am just buying some silver to stack.  (Please let me know if you have any tips and trick)

I just bought 1 oz Britannia silver from Royal Mint which cost me around 30 GBP. 

The current spot price is around 18.66 (at the time of posting). I just wondering how can i make profit while selling price and spot price is massive different. I want to know regarding selling silver. 

For example, when i sell my coin to bullion dealer like (Royal Mint, Bullion by Post, etc), do they give you only spot price (18 GBP only)  or do they give spot price plus premium (18+VAT/premium)? 

I would be appreciated if you show me or tell me tips and tricks for silver stacking. 

Thank you. 

 

[Pete]

Tip number 1 for a new stacker - do your homework and compare prices for silver listed by fellow members on this site.
For small purchases always factor shipping in your cost.

Tip number 2 stay clear of dodgy eBay sellers until you can tell the difference between a real silver coin and know how to spot a fake.

As for selling for a profit - you may have a very long wait and the disadvantage of buying from UK dealers is the 20% VAT which you need to write-off the moment you make your purchase.

Buying and selling gold its a totally different ball game as the differences between buy and sell are only a few percent and the movement in the spot price can literally change things overnight.
Not so with silver but with gold you are playing with bigger chips in the casino of PMs.

[trp]

Hello and welcome to the forum!  

The Forum is a great place to buy silver and gold. Silver often much less than £30.00 per oz! Great deals on gold too.

Upgrading to a paid membership on the forum is well worth it to see the items when they are first posted.

 

[Agpanda]

Hi and welcome to the forum from Sweden

[CadmiumGreen]

Welcome aboard The Silver Forum!

[dmcac]

Hello and welcome

No doubt! I recommend getting premium membership and get deals from here you'll get much better prices

enjoy the ride 😛

[Min]

20 hours ago, Pete said:

Tip number 1 for a new stacker - do your homework and compare prices for silver listed by fellow members on this site.
For small purchases always factor shipping in your cost.

Tip number 2 stay clear of dodgy eBay sellers until you can tell the difference between a real silver coin and know how to spot a fake.

As for selling for a profit - you may have a very long wait and the disadvantage of buying from UK dealers is the 20% VAT which you need to write-off the moment you make your purchase.

Buying and selling gold its a totally different ball game as the differences between buy and sell are only a few percent and the movement in the spot price can literally change things overnight.
Not so with silver but with gold you are playing with bigger chips in the casino of PMs.

Thanks for your advice, Pete. I will do more research. :)  

[Min]

20 hours ago, trp said:

Hello and welcome to the forum!  

The Forum is a great place to buy silver and gold. Silver often much less than £30.00 per oz! Great deals on gold too.

Upgrading to a paid membership on the forum is well worth it to see the items when they are first posted.

 

I will upgrade to a paid membership on the forum. Thanks Trp.

 

[Min]

9 hours ago, CadmiumGreen said:

Welcome aboard The Silver Forum!

Thank you.

[Min]

2 hours ago, dmcac said:

Hello and welcome

No doubt! I recommend getting premium membership and get deals from here you'll get much better prices

enjoy the ride 😛

Thanks. I will upgrade my membership. 

 

[Min]

18 hours ago, Agpanda said:

Hi and welcome to the forum from Sweden

Thank you, Agpanda. :)

[ChrisSilver]

Hello and welcome to The Silver Forum  

[SilverHive]

Hello and welcome to TSF family 😆

[Min]

On 09/11/2020 at 03:20, ChrisSilver said:

Hello and welcome to The Silver Forum  

Thank you. :)

On 09/11/2020 at 11:49, SilverHive said:

Hello and welcome to TSF family 😆

Thank you :)

[EagleStacker]

Hello and welcome! I'm new myself! personal I prefer stacking Silver Eagles as an investment, I also collect them... When stacking as an investment dates don't matter, don't bother paying high premiums for proofs and other items. Instead worry about how easy it will be to liquidate, call around to your LCS and get a feel for their prices and what they are buying. I'm my experciece which is not alot, but Eagles sell easy and for a good premium. Really though It's up to you in the end, just research and find something to stack, and something to collect... But remember, collecting and stacking are two different sides. Good Luck!

[GrahamDiamond]

Welcome to the Silver Forum Coinster