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What is the end goal?


LongScottSilver

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Hey guys and girls, 

I'm very new to the concept of buying silver coins and can really see the appeal. Throughout my live I have went through various phases of collecting things from bottle caps to key rings, nothing too exciting and nothing that turned out to be profitable.

A friend of mine Phil holds about 5-10% of his wealth in physical bullion while another much richer friend Siam holds 5%. I am keen to do the same for various reasons and collection silver coins sounds like fun.

What I am curious about though, is what is the end goal? Phil for instance wants to leave his as inheritance to his kids, where as Siam will sell at any time to obtain another asset and keep dipping in and out. Where can you sell? Who buys/sells second hand silver coins?

I have read through several threads and have found STG to be the most recommended. Having checked their costs against home and foreign dealers they seem to be the best prices. 

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Welcome to the forums!

For many, myself included - the end goal would probably be a Parabolic rise in price, allowing us to sell the majority of what we hold and either convert to other assets or retire happy and secure. 

But that may well be just a pipe dream. What I have learnt is that holding/collecting gold and silver means you have savings, and no matter how bad things get its something you can fall back on, something that has really stood the test of time. Ultimately If I ever need money I have gold and silver I can convert, Because of this I have never had to use a payday loan or any other high APR loan. 

Some will say if you ever need to convert your metals to cash then you dont have enough cash savings. Personally I'm happy to have the majority of my savings in metals and convert/trade as needed.

I can honestly say until I stumbled across gold and silver a couple of years ago I never had more than £100 in savings in my life. Thats no longer the case:)

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For me, I see this as additional retirement fund. Being 32 I got plenty of years to build it up (Hopefully)! If the unfortunate happens and I never retired then it's a little nest egg for my 2 kids. 

Like Madstacks, I never had much cash in my account but since I started stacking I'm finding new ways to throw a few quid in to my savings to build up for my next purchase, I'd usually spend any spare cash on tobacco/Alcohol/gaming (XBOX not casino)... but since stacking my drinking has reduced (wasn't heavy to start with so don't people start worrying) and I smoke an e-cig now which is way cheaper and supposedly healthier. 

With regards to selling, most bullion shops/companies to will purchase silver/gold slightly under spot value.

I hope the above helps, 

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My wife is from Argentina and if you ask anyone who has lived through a currency crisis/economic bust as they have done then the value of PMs is self-evident - look at the price of gold in Argentina in the last 5 years and tell me what you would rather have held. That's the FIRST and FOREMOST function of PMs - to act as INSURANCE in the event of a currency collapse.  Of course most people will say the same thing can never happen in the UK or other developed economies, but the things that cause whole countries to fail to the point of insolvency are always the same - political hubris and deficit spending.

Beyond that however, yes there is an "investment" element to PMs as they go up and down similar to any other financial asset, and also of course it is incredibly fulfilling to own physical PMs, as there is an undeniable beauty about a well crafted buillion coin, often to the point where price movement is a relatively minor hinderance.

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I'm not sure I have an end goal

I don't really see pm's as an investment as such 

I just like to keep some of my savings in other forms like gold rather than in currency at the bank

I've been buying numismatic gold (at close to spot as possible) in hopes that in the future should it come time to sell, if spot price isn't what one would hope, then  the numismatic value will make up for it; double the protection

I haven't really got any silver, I like that gold stores so compactly

 

 

 

Help thread for members new to silver/gold stacking/collecting

The Money Printing Myth the Fed can't and don't money print - Deflation ahead, not inflation 

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Stacking is good for my mental and physical health. I have a positive focus and a quest. I have savings when I had no savings before. I think before I spend on depreciation and consumption. I may take my stack and buy property or maybe just carry on for a few years. Either way I am stronger via pm and less prone to suffer in a disaster.

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Hello Scott

Have a good read on here, and you will see that everyone has there own reasons for stacking/collecting, and none are more valid than any other.

For my part I hold 5-10% and it is more of a journey than an 'end goal'.

I am nearly back down to 5% (my minimum - the 'insurance' element if you wish), having been at 10% at the beginning of the year.

Why, because the gold spot had a healthy rise compared to when I bought in. That money can be put to good use elsewhere, and when PM's dip again I will have more free cash to get back to my 10% again.

One thing I would say I have learnt though is that Silver is a harder metal to stack than gold. Silver has bigger premiums and is harder to sell .

So if you can afford it, go for the latter. No VAT, buy at Spot + 3 to 4%, and sell quickly through several dealers at anywhere between spot and spot-3%.

Currently stacking 1/4 oz (22ct) and Sovs.

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14 hours ago, Madstacks said:

Welcome to the forums!

For many, myself included - the end goal would probably be a Parabolic rise in price, allowing us to sell the majority of what we hold and either convert to other assets or retire happy and secure.

But that may well be just a pipe dream. What I have learnt is that holding/collecting gold and silver means you have savings, and no matter how bad things get its something you can fall back on, something that has really stood the test of time. Ultimately If I ever need money I have gold and silver I can convert, Because of this I have never had to use a payday loan or any other high APR loan.

Some will say if you ever need to convert your metals to cash then you dont have enough cash savings. Personally I'm happy to have the majority of my savings in metals and convert/trade as needed.

I can honestly say until I stumbled across gold and silver a couple of years ago I never had more than £100 in savings in my life. Thats no longer the case:)

Couldnt agree more with you madstacks, perfect wording and im exaclty the same.

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6 hours ago, Numistacker said:

Stacking is good for my mental and physical health. I have a positive focus and a quest. I have savings when I had no savings before. I think before I spend on depreciation and consumption. I may take my stack and buy property or maybe just carry on for a few years. Either way I am stronger via pm and less prone to suffer in a disaster.

Perfect Numistacker!

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The end goal? To become immortal and rule the world from my secret volcano! (Oh wait no that was possibly a movie).. :P

For me, Madstacks summed it up above. Savings basically, ive always been crap with money, buying all sorts of pointless junk and never been able save a penny, empty savings account and a zero balance current account at the end of every month! I have got into Silver to have a store of money, something i cant easily pop to the shops and spend or withdraw and yet can be converted back to cash if the need arises. Im not here as an "investor", not trying to make a percentage increase on my money, if i do great but if i dont well nevermind, its just money i have saved in the form of Silver..

Ive only been stacking for a few weeks and in tiny amounts only, but already have more in silver put away than my savings account has ever had in it! And frankly i am loving the collecting side of it, great fun collecting bright shiny things LOL.

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15 hours ago, Madstacks said:

, Because of this I have never had to use a payday loan or any other high APR loan. 

I can honestly say until I stumbled across gold and silver a couple of years ago I never had more than £100 in savings in my life. Thats no longer the case:)

So very true for myself, although i dont mind confessing i have had a dreaded payday loan twice in past few years! But ive seen the light now and my silver although tiny is already worth far more than my savings account has ever been..

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If you need money for  a short period instead of a payday load or selling some silver - try pawning your silver collection of a month - You will get your loan ( a a relatively cheap rate)  and still keep your silver assuming you pay it back on time 

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My Goal Is of course swimming in Gold lol.

For me i just see it as another way to save up. I always struggled to save money. I get really easy tempted to buy gadgets and really have wasted bit of money.

But with Gold and Silver its bit diffrent. The joy you have when you add something to your collection and it will still be something worth in 10 years,

Just hoping it will be more worth than i spend today but atleast it will not completely worthless .

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1 hour ago, 4Nines7Hills said:

If you need money for  a short period instead of a payday load or selling some silver - try pawning your silver collection of a month - You will get your loan ( a a relatively cheap rate)  and still keep your silver assuming you pay it back on time 

no credit searches to go against you down the line - noone knows about it, its between you and your pawnbroker

cash in your hand within minutes, no waiting for manager authorisation or computer says no

just watch the APR on pawn loans they can be eye watering 100%+ APR  but still way better than a pay day loan legalised loan shark with a fancy logo or resorting the kneecap-finance through Burmondsey Big Dave

 

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@4Nines7Hills

3 hours ago, 4Nines7Hills said:

If you need money for  a short period instead of a payday load or selling some silver - try pawning your silver collection of a month - You will get your loan ( a a relatively cheap rate)  and still keep your silver assuming you pay it back on time 

Could you trust them not to take them out of the caps/omp and acid test the gold?

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I've never done it but i should think so, if they are well  known coins/bars or you had the invoice .

id take my magnet,scales, bowl of water and calipers to be on the safe side too lol

 

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9 hours ago, BaldyBob said:

One thing I would say I have learnt though is that Silver is a harder metal to stack than gold. Silver has bigger premiums and is harder to sell .

So if you can afford it, go for the latter. No VAT, buy at Spot + 3 to 4%, and sell quickly through several dealers at anywhere between spot and spot-3%.

Bang on. I like silver, I like that you get 'more' for your money, but I'm tired of being 20% poorer as soon as I've bought it.

 

So now, living in the UK as I do, I pretty much only buy gold.

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Like several others, if I have cash I spend it.

I stack to save! (Got to get that engraved on a silver button!!)

Gold and silver takes more effort to waste, got to find a buyer, package it and post it - a damned sight more time to rethink an impulse purchase than just reaching for a debit card or clicking the PayPal button!

I've heard, and appreciated the advice regarding prices going down etc. but to be honest, if I had the cash or even gave it to someone else to look after, I'd spend it, all of it, and quickly.....sovereigns and silver ingots just seem to be easier to hold on to :-)

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