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[SilverMine]

I just wanted to introduce myself as a new forum member and someone who is fairly new to the PM/Silver world.

I stumbled across a few videos online last year about Silver, and the more I read and watched, it became fairly obvious that it is a wise move to invest in a physical asset (alongside having small investments within the stock market and elsewhere). I am in my mid 20's so I am only just at the beginning of setting up my financial future, having spent the last couple of years getting fully out of debt and saving money. 

Mid 2015, I decided to dabble and came across STG online, while the delivery costs are high, the low VAT was a bit of no brainer (although I did spend time comparing costs with other websites). Being VERY new I picked up only a small amount (13oz in total but one was a 10oz koala). I sat on the coins for a few months and yesterday I ordered another small amount (14oz in coins) from STG again - its now in the post and on its way! So I figured I may as well find a PM forum, so I can keep up to date with my small investment/holding. 

I do worry about the items being stolen, and wonderer if an independent (non-bank) safety deposit box would be a good idea, although the nearest one to me charges quite a lot per annum. If costs to store the items are so high, using this method would devalue my overall final gains (Unless I am missing something), then again if they are stolen the gains would be 0... I would love your opinions on storage and keeping your investment's safe (without ideas such as putting them in the ground - which I would prefer to avoid). 

I appreciate people go into PM's for different reasons, for me I think its just a bit of extra financial security (unless silver goes up a crazy amount). Im not planning to put all of my money into silver, but rather to buy 10-20oz here or there. I think that is my plan for now. 

Not sure what else to say...

Thanks

SM

[Agpanda]

Hi, and welcome

1st let me congratulate you to start saving when you still pretty young

I wish i had done that

I hope you will like it here.

[Pipers]

Hi welcome,  No one will tell you where they are keeping their hoard!!! 

Have a look on the forum for ideas.

[HelpingHands]

Hello and welcome!

[Scuzzle]

Welcome, you are certainly starting at the right age as you will undoubtedly need the insurance policy of PM's sometime in the future and there is a good chance you could see the huge price increases.   Storing them can be a dilemma, burying them is fair enough if you have your own garden and know exactly where they are.  If you are ever DIY'ing around your house knocking up a false partition somewhere is also worth looking into.

[ifing]

Hi and welcome

I have heard thru reliable sources that hiding it behind the lettuce in your beer fridge, is a foolproof way.

[HelpingHands]

The secret is not to tell anybody you know that you have pms.  You never know who they might mention it to.

[Senegaune]

Welcome Silvermine.

[SilverMine]

Thanks everyone (@Bosse68, @Pipers, @HelpingHands, @Scuzzle, @seXes, and @Senegaune) for the warm welcome and tips so far, it is very much appreciated.

I'm looking forward to the arrival of my next delivery. Im trying to tell myself it will be the last I buy for some time, But I have a feeling I will want more...

Any thoughts on silver bars? I have noticed most don't come in Oz and come in Grams. What is the best size to buy, or would you suggest that a beginner sticks  with coins? As STG dont do bars, where is the best/cheapest place to buy if you are in the UK?

Would also be interested in knowing the best way to keep a track of your stacks and their values. At the moment I am keeping the invoices from STG. 

Thats a good tip @HelpingHands and actually makes a lot of sense. Loose lips, sink ships. 

[HelpingHands]

There are coin bars but other than that bars don't qualify for the lower VAT.  

[HelpingHands]

There are a few threads on here about record keeping.  Here is one.

 

[SilverMine]

Thanks @HelpingHands!

[Bowie]

Welcome!

Good to see another young stacker, I myself am early 20s so hopefully we'll have great futures with our investments!

Great job on finding STG, I wish I found it sooner as I could have got much more for my money.

Happy stacking!

[SilverMine]

Thanks @Bowie, its great to know that Im not the only one starting while still fairly young. Do you plan to stack for a long time, or just a smaller amount as an investment and to sell when the price goes up? Would be great to understand what other younger stackers are aiming to do, Im new to physical assets. 

 

[Scuzzle]

I think the coins from STG are better than bars, they are cheaper since they have the reduced VAT and if you ever weigh either in for the spot price you will get the same amount back no matter which you have but coins have have the ability to appeal to a Lunar, Kook or Koala collector in the future so you might see a touch of premium,

I have photographed my metal and scanned my receipts to a digital format and stuck these on a USB stick along with my costings spreadsheet on Excel which is kept apart from my stack.  Might be useful just in case they ever are stolen.

This is what I have listed on my bullion spreadsheet, my numismatic stuff is on a much simpler spreadsheet where I don't bother with spot price.

COIN   /   WEIGHT SINGLE ITEM   /   TYPE   /   QTY   /   D.O.P.  & COIN DATE   /   COST PER ITEM (INC. ADDITIONALS)   /   TOTAL  (INC. ADDITIONALS)   /    COIN TYPE   /   SPOT PRICE @ D.O.P

[HelpingHands]

That's a good idea @Scuzzle

I'm without a scanner so might take photos and save them somewhere.  

[SilverMine]

Thanks @Scuzzle, Photos are a good idea!

[Bowie]

@SilverMine Probably a long time, I started just as a coin collector and still do collect old US and UK coins and recently got into PMs a couple months ago. I like being able to spend money on something I enjoy with the thought of it also being somewhat of an investment. I'm a student at the moment so can't afford much so my current aim is to just keep up my favourite series being Lunars, Pandas, Kooks and Libertads.

[Guest]

Welcome to the forum@Silvermine

[Euromir]

Welcome, new here myself this week. In fact not even got any silver yet (its on its way!).

[KevinG]

Hi and welcome.

[BaldyBob]

Welcome to all new members, sorry I haven't kept up.

[SilverMine]

18 hours ago, Bowie said:

@SilverMine Probably a long time, I started just as a coin collector and still do collect old US and UK coins and recently got into PMs a couple months ago. I like being able to spend money on something I enjoy with the thought of it also being somewhat of an investment. I'm a student at the moment so can't afford much so my current aim is to just keep up my favourite series being Lunars, Pandas, Kooks and Libertads.

Thats interesting @Bowie, keep it up! Hopefully over time, we will be able to have a great future ahead! 

 

Thanks for the welcomes @Numistacker, @Euromir, @KevinG, and @BaldyBob. 

[MCJ]

Hi and welcome matey.

[ChrisSilver]

Welcome to the forum @SilverMine !