Silver staking

[Mark1234]

As a new stacker I am just wondering what peoples strategies are for building up a stack in this current climate of madness. I have managed to amass a nice little stack and on average payed £22.87 per Oz. Any thoughts or pointers would be appreciated. 

Long time Investment for help during retirement . Goal is to have around 1000 Oz in different sizes and forms 

 

Thanks 
Mark  

[GreatBritishBullion]

I think with most investment it's best to dollar cost average, not obsessing on the price too much. It's relatively hard to time the market and the best we can do consistently is to buy local minima i.e. what we perceive to be dips at the time whilst being conscious of the premiums. Silver has good fundamentals and therefore the outlook is bright and bullish, although not without its challenges. You will get most bang for your buck with bars but lose most of the advantages of coins (fungibility, sovereign currency etc) - especially being a UK investor its probably best to stack Britannia as your main coin if you are exceeding CGT thresholds.

Welcome to the forum!

[Mark1234]

3 minutes ago, GreatBritishBullion said:

I think with most investment it's best to dollar cost average, not obsessing on the price too much. It's relatively hard to time the market and the best we can do consistently is to buy local minima i.e. what we perceive to be dips at the time whilst being conscious of the premiums. Silver has good fundamentals and therefore the outlook is bright and bullish, although not without its challenges. You will get most bang for your buck with bars but lose most of the advantages of coins (fungibility, sovereign currency etc) - especially being a UK investor its probably best to stack Britannia as your main coin if you are exceeding CGT thresholds.

Welcome to the forum!

I have managed to get my self a bit of both coins and bars just a little to heavy on the bars at the moment. I have some gold and platinum as well which ill be holding onto for a long while. 

 

Thanks GBB  

[Bigmarc]

There are loads of different kinds of stackers and collector's here. They all do it for different reasons and have different strategies. It may help if you say what your goal is and why you doing it.

 

[Tn21]

In this current climate, just take it nice and easy. 

 

[modofantasma]

Hey. 

Strategy is to allocate a small portion of available £ and to buy based on good prices spreading purchases over time (averaging in) 

Ideally sticking with low premium bullion, britannias in silver and sovs in gold for the base of the stack along with some bars. I do pick up other bits and pieces if they are well priced, my intention being to trade these out for bullion when I get around to it. 

My way isn't necessarily the best for everyone but its simple and time efficient. For me I view metals as a long term savings everyone has their reasons

[greektony]

now Brexit has screwed over any prospect of us in the UK getting silver anywhere near spot I would concentrate on buying gold. Might need to change the name of the forum soon to 'The Gold Forum'

[stefffana]

Hi, @Mark1234,

Your goal is a realistic one for long term. The strategy is simple:

Buy only with spare money.

Be consistent in buying a small quantity every month.

When you see a bargain on forum or dealers do not hesitate to press the button.

Try to avoid high premiums, even are very beautiful coins or bars.

Be patient and don't buy more than you can afford at the moment.

Try to not get involved in competitions with another stackers. It is human being to compare with others, but our budgets are not the same.

Be flexible, accepting any shape, type, finesse and size of silver, from shiny new coins and bars, to old british currency and scrap flatware. The intrinsic value is important, not the extrinsic one.

Try when you are building your silver stack to build as well a gold stack with the same value, eventually look to another undervalued metals as copper.

I know, it is difficult, but do not get trapped in an obsession. Can affect your mental health or your relation with your partner.

This is my friendly advice for you.

Happy stacking!

Stefan.

 

[Bigmarc]

My strategy differs slightly probably because I've been bitten more than once on throwing all I have on one item. It also depends on how much money you have and time on your hands.

This is fun for me rather than a investment. There are accounts available now that give you access to crypto, commodities and foreign exchange at a click of a button. I set one of these up and linked my PayPal to it and left it separate form anything else. 

Now I love silver and now gold, but this is my end game. I put a my budget every month into that separate account. That is my eBay flip, crypo and anything else that takes my fancy. Ultimately I buy silver with the profit I make. Some months I buy nothing at all. It's all about maximizing my relatively low budget. There are bargains to be had if spend hours through the auction sites. After a few years doing this I have managed to accumulate a few hundred Oz, I do feel if I put my time in to something more constructive I would probably be a millionaire 😁

Premiums are high at the moment but if you look at the second hand market it seems to reflect this. Personally I've never sold any silver to date but I am starting to consider turning it into gold.

Buying in the forum seems to be great value for money in most cases. Don't jump at the first thing you see. Spend time watching what is available. It seems loads cheaper than buying it of the self and slightly more expensive than picking it up at auction. Again it depends on how much time you have and your goal.

 

 

[AurumArgenti]

19 hours ago, Tn21 said:

In this current climate, just take it nice and easy. 

 

So no buying monster box's of silver.😆

[Mark1234]

10 hours ago, Bigmarc said:

My strategy differs slightly probably because I've been bitten more than once on throwing all I have on one item. It also depends on how much money you have and time on your hands.

This is fun for me rather than a investment. There are accounts available now that give you access to crypto, commodities and foreign exchange at a click of a button. I set one of these up and linked my PayPal to it and left it separate form anything else. 

Now I love silver and now gold, but this is my end game. I put a my budget every month into that separate account. That is my eBay flip, crypo and anything else that takes my fancy. Ultimately I buy silver with the profit I make. Some months I buy nothing at all. It's all about maximizing my relatively low budget. There are bargains to be had if spend hours through the auction sites. After a few years doing this I have managed to accumulate a few hundred Oz, I do feel if I put my time in to something more constructive I would probably be a millionaire 😁

Premiums are high at the moment but if you look at the second hand market it seems to reflect this. Personally I've never sold any silver to date but I am starting to consider turning it into gold.

Buying in the forum seems to be great value for money in most cases. Don't jump at the first thing you see. Spend time watching what is available. It seems loads cheaper than buying it of the self and slightly more expensive than picking it up at auction. Again it depends on how much time you have and your goal.

 

 

I am finding this very enjoyable creating my own treasure chest. I have the restraint not to pay the high premiums. I have also got my some positions in crypto which ill probably be using what I make to buy some more gold. Just had some cash sat in my savings account gaining barely no interest so iv used some of that to invest into gold, silver and crypto