Advice

[rooster]

Hi there as I'm new to collecting silver and new to well everything, do you have any advice on starting to stack silver? And I have also seen this term 'bump' being used when people sell. What does this mean and is there any other slang words in the precious metals community?

[Alex944]

Hi Rooster,

Welcome to the forum!

First, ''bump'' is just what people put in their topic to place it back on top of the recent posts in a forum, or 'bumping'' it back up to the top

Regarding some advise to start stacking, here's some points I try to adhere to at all times:

 

- Buy only what makes sense for you to buy in terms of budget. PM's will always have a value but not everything is that easy to sell. If you are looking to build a stack over the years, only put in money that you know you can miss.

- Know your exit strategy. If you were forced to sell part of your stack, how would you sell it and where would you go to?

- When I started stacking, I bought a variety of silver coins over the course of about a year. Ranging anywhere from bullion (standard) coins like Britannia's, Krugerrands and phillies to slightly more premium coins like Chinese Panda's or Kookaburra's. I always recommend to start with buying a variety of coins, you will learn the differences between mints, quality, series, but also your own interest in things that you do and do not enjoy.

- Always double check specifications and listings, especially when it comes from a second hand market. If a deal looks to good to true, it probably is. 

- Dont be afraid to ask for help or opinions! This forum is full of kind and knowledgeable people that can share their opinion and experiences.

Last thing, if you are just starting out, there's a great deal on the forum providing a ''beginners'' stack:
 

All the best.

[5huggy]

46 minutes ago, rooster said:

I have also seen this term 'bump' being used when people sell.

The phrase is added to one's advert to boost it back to the head of "new posts" within the Sale board - thereby potentially increasing it's visibility!

Also after a period of time the people without higher grade memberships are finally allowed to see the items (for the first time)

this is why its worth (IMHO) upgrading to higher levels of membership!😉👌 You get first shot at the sales in higher membership grade!

[Fadeingstar]

I think the first thing you need to establish is why you want to stack silver there are a number of reasons that people have:

1) Hedge against inflation
2) Banking system going pear shaped
3) The enjoyment of collection date runs of coins etc
4) Many many more

If you want to stack for pure weight then flatware is 100% the way to go. You can pick it up for around spot value so as long as spot goes up then you are alright. Flatware is stuff like spoons, serving jugs, candle sticks etc it should all be hallmarked and usual 0.925 which is sterling silver. You can always look for spotted silver which is silver that is suffering from milk spots then are due to the chemicals used in the manufacturing process. They do not look pretty but the weight of the base metal is still there. They are often cheaper than non spotted coins so can be a way to add weight.

Another thing I would say is don't put all your eggs in one basket it is nice to have a whole 1kg of silver in a bar but if you need to liquidate some but not all you will have to sell the whole thing. Coins/round on the other hand you can just sell off a few if you need the funds.

As the guy above days a nice collection of the standard bullion coins is a good place to start find out what you like and go from there.

Depending on your budget it could be wise to pick up some gold aswell to add diversity into your collection again an oz can be a lot of money to spend in one go but you can guy 1/10th and 1/4 which soften the blow to the coffers a bit.

When it comes to buying your metals the cheapest place is on the forum. The buy and sell section is alive with stuff changeing hands.

 

[TheShinyStuff]

Probably the first question you should ask yourself is do want to 'collect' coins/bars or do you just want to build the biggest 'stack' you can with your available funds? These are very different directions, some people do a bit of both, but most I think have a preference to one or the other.

[dicker]

Hi Rooster

If I might offer a bit of advice.....whatever you chose to purchase a single nice bullion 1 oz coin or a Morgan dollar (which I think are very nice) is a good place to start.  Also queens beasts in 2oz are very nice 'in the hand'.

If you like them - great, if not well nothing really lost.

 

All the best

Dicker

 

[rooster]

1 hour ago, Alex944 said:

Hi Rooster,

Welcome to the forum!

First, ''bump'' is just what people put in their topic to place it back on top of the recent posts in a forum, or 'bumping'' it back up to the top

Regarding some advise to start stacking, here's some points I try to adhere to at all times:

 

- Buy only what makes sense for you to buy in terms of budget. PM's will always have a value but not everything is that easy to sell. If you are looking to build a stack over the years, only put in money that you know you can miss.

- Know your exit strategy. If you were forced to sell part of your stack, how would you sell it and where would you go to?

- When I started stacking, I bought a variety of silver coins over the course of about a year. Ranging anywhere from bullion (standard) coins like Britannia's, Krugerrands and phillies to slightly more premium coins like Chinese Panda's or Kookaburra's. I always recommend to start with buying a variety of coins, you will learn the differences between mints, quality, series, but also your own interest in things that you do and do not enjoy.

- Always double check specifications and listings, especially when it comes from a second hand market. If a deal looks to good to true, it probably is. 

- Dont be afraid to ask for help or opinions! This forum is full of kind and knowledgeable people that can share their opinion and experiences.

Last thing, if you are just starting out, there's a great deal on the forum providing a ''beginners'' stack:
 

All the best.

Thank you so much for this information. This is very useful. Thank you😊.

[rooster]

1 hour ago, 5huggy said:

The phrase is added to one's advert to boost it back to the head of "new posts" within the Sale board - thereby potentially increasing it's visibility!

Also after a period of time the people without higher grade memberships are finally allowed to see the items (for the first time)

this is why its worth (IMHO) upgrading to higher levels of membership!😉👌 You get first shot at the sales in higher membership grade!

Thank you very much for letting me know, I will definitely get the membership when I start to buy when silver is slightly lower.

[dwreck]

Might want to wait to buy since i think silver will be going up short term. Usually goes down in spring summer time though. Time will tell... I think it's going to get interesting and wouldn't want to be caught empty handed

[rooster]

3 hours ago, dwreck said:

Might want to wait to buy since i think silver will be going up short term. Usually goes down in spring summer time though. Time will tell... I think it's going to get interesting and wouldn't want to be caught empty handed

Does it go down in spring because they don't release any coins then?

[rooster]

8 hours ago, dicker said:

Hi Rooster

If I might offer a bit of advice.....whatever you chose to purchase a single nice bullion 1 oz coin or a Morgan dollar (which I think are very nice) is a good place to start.  Also queens beasts in 2oz are very nice 'in the hand'.

If you like them - great, if not well nothing really lost.

 

All the best

Dicker

 

Hi dicker,

                I'm thinking of investing in 10oz silver coins and tubes of like 25x 1oz or like 2oz.

[rooster]

9 hours ago, TheShinyStuff said:

Probably the first question you should ask yourself is do want to 'collect' coins/bars or do you just want to build the biggest 'stack' you can with your available funds? These are very different directions, some people do a bit of both, but most I think have a preference to one or the other.

I want to collect mostly coins and a few bars and get as much of it as I can. And then also buying cheap silver when it very low and then selling when it is high again.

[rooster]

9 hours ago, Fadeingstar said:

I think the first thing you need to establish is why you want to stack silver there are a number of reasons that people have:

1) Hedge against inflation
2) Banking system going pear shaped
3) The enjoyment of collection date runs of coins etc
4) Many many more

If you want to stack for pure weight then flatware is 100% the way to go. You can pick it up for around spot value so as long as spot goes up then you are alright. Flatware is stuff like spoons, serving jugs, candle sticks etc it should all be hallmarked and usual 0.925 which is sterling silver. You can always look for spotted silver which is silver that is suffering from milk spots then are due to the chemicals used in the manufacturing process. They do not look pretty but the weight of the base metal is still there. They are often cheaper than non spotted coins so can be a way to add weight.

Another thing I would say is don't put all your eggs in one basket it is nice to have a whole 1kg of silver in a bar but if you need to liquidate some but not all you will have to sell the whole thing. Coins/round on the other hand you can just sell off a few if you need the funds.

As the guy above days a nice collection of the standard bullion coins is a good place to start find out what you like and go from there.

Depending on your budget it could be wise to pick up some gold aswell to add diversity into your collection again an oz can be a lot of money to spend in one go but you can guy 1/10th and 1/4 which soften the blow to the coffers a bit.

When it comes to buying your metals the cheapest place is on the forum. The buy and sell section is alive with stuff changeing hands.

 

I would want to collect as many coins as I can because I came from collecting loads of 50p's, £3 etc and just love all the different designs. Is the forum better than Facebook?

[TheShinyStuff]

 

18 minutes ago, rooster said:

I want to collect mostly coins and a few bars and get as much of it as I can. And then also buying cheap silver when it very low and then selling when it is high again.

Sounds like a plan. This forum will be your best value source of coins and bars. Buy in bulk if you can - it's cheaper and less postage involved. The 'beginner stack' listed by @Paul would be a good start to consider. Good luck and have fun. 

[Fadeingstar]

Personally I do not use Facebook to buy precious metals it is a security thing aswell. People can see which groups you are part of and others can view your profile etc. 

The forum has the best prices there were some bullion coins between £25 -£27 the other day. Things have gone up slightly now though still have £6 a pop cheaper than main dealers though.

[Bigmarc]

1 hour ago, rooster said:

I want to collect mostly coins and a few bars and get as much of it as I can. And then also buying cheap silver when it very low and then selling when it is high again.

I've recently joined and quickly realized that I should have been keeping a book of what I bought and when. I have items that I purchased 8 years ago when I was just collecting, I have no idea what I paid for them. When it comes to sell you need to know you are winning.

[dwreck]

On 15/02/2021 at 14:55, rooster said:

I want to collect mostly coins and a few bars and get as much of it as I can. And then also buying cheap silver when it very low and then selling when it is high again.

I would reccomend the 10oz bars if you're going to buy bars because of the lower premiums. For coins or rounds there are many choices but i prefer government issued coins or 90% us coinage.

[rooster]

On 15/02/2021 at 17:37, dwreck said:

Might want to wait to buy since i think silver will be going up short term. Usually goes down in spring summer time though. Time will tell... I think it's going to get interesting and wouldn't want to be caught empty handed

Does it go down in spring becaullgge they don't release any coins then?

 

43 minutes ago, dwreck said:

I would reccomend the 10oz bars if you're going to buy bars because of the lower premiums. For coins or rounds there are many choices but i prefer government issued coins or 90% us coinage.

Oh,ok. Thanks for the recommendation. 

[rooster]

45 minutes ago, dwreck said:

 

23 hours ago, Bigmarc said:

I've recently joined and quickly realized that I should have been keeping a book of what I bought and when. I have items that I purchased 8 years ago when I was just collecting, I have no idea what I paid for them. When it comes to sell you need to know you are winning.

 

That sounds like a good idea. Thanks.

[rooster]

23 hours ago, Fadeingstar said:

Personally I do not use Facebook to buy precious metals it is a security thing aswell. People can see which groups you are part of and others can view your profile etc. 

The forum has the best prices there were some bullion coins between £25 -£27 the other day. Things have gone up slightly now though still have £6 a pop cheaper than main dealers though.

Yea, that is true. Thanks

[rooster]

On 15/02/2021 at 21:13, TheShinyStuff said:

 

Sounds like a plan. This forum will be your best value source of coins and bars. Buy in bulk if you can - it's cheaper and less postage involved. The 'beginner stack' listed by @Paul would be a good start to consider. Good luck and have fun. 

Thank you.

[StackemHigh]

Whatever you decide in collecting or stacking enjoy.

 

[rooster]

9 minutes ago, StackemHigh said:

Whatever you decide in collecting or stacking enjoy.

 

Thank you very much, and good luck with your collection.