Got the gold fever, need help! lol

[Dazlenk]

Hi All

Greetings from Wales, I'm a total beginner as far as collecting/stacking goes. For some reason I bought some small gold bars from Bullion by Post (probably not the best place to buy from!) a few weeks ago. I got a Pamp 1g and 5g, once they arrived I suddenly got the bug! I've now got a Nadir 1 oz silver bar, 2 x 2021 silver Britannia's a 2021 1 oz silver Krugerrand and a 2021 1 oz silver Panda. My Mrs thinks I've gone a bit nuts lol. I haven't really got a clue what I'm doing so joined this forum in the hopes of learning how to collect and stack properly without getting ripped off. I originally thought of it as an investment but really like the look of the coins I've got so wouldn't mind collecting too, but as I said I know f~*$ all! Any advice along the way would be gratefully received. Cheers

P.S Are proof coins/sets worth buying from an investment point of view or are they just for collectors who like them?

[Fadeingstar]

Hello and welcome to the forum.

The best place to buy is the buy/sell section of the forum you will find items cheaper than the main dealers. We have a feedback system on the forum much like a popular auction site so you can see someones standing. Premium membership would be good idea as things often go quickly.

I think the question is why are you buying precious metals. There is no wrong answer here. Some people buy as a long term investment over 20 years etc espcially gold has a proven track record silver is much more volitile but the barrier to entry is somewhat lower. Some people buy because there is a joy in collecting there are in my opinion some amazing looking "bullion" coins that mints around the world produce. The Krugerrand and the American Silver Eagle are my favourites.

If you are looking to get as much silver as possible for your money look at spoons, forks,knives. sauce boats, candle sticks (check the base for plaster) these are often 925 silver often known as sterling silver and can often be picked up for spot value or just a fraction over. There are also of surrancy coins from around the world that have a percentage of silver in them. Personally they are not my thing as I like 999 coins.

I tend to think of proof sets as collectors items. That being said I have recently purcahsed by first silver proof coins from the kings beast series with a view to seeing their long term performance.

Edited November 3, 2021 by Fadeingstar

[KevinFlynn]

When thinking about what to buy, first think on how're you going to sell one day.

That should influence what you should buy. You can never go wrong with national bullion coins (like Britannia, Eagle, Krügerrand, ...) as these are well trusted everywhere. The coin of the country you intend to sell in might be the most liquid to you. If you want to go into gold fractionals (i.e. under one ounce) it will do well to look at historical trade coins (like the Sovereign, ...).

If you're buying from savings or shifting from another asset, it's advisable not to buy everything at once - take the sum you want to invest and buy over a couple of months. That way you will achieve a cost average effect and mitigate your risk of buying on a peak (as well as the chance of buying on a dip, though).

[daca]

Welcome aboard!

[trp]

Hello and welcome to TSF!  

[Tortoise]

Hello,

I felt the same when I got hold of my first gold sovereign!  😀

For me, I have decided to stack gold only and at a low premium only.  I am stick to UK bullion as it avoids any Capital Gains Tax and gold unlike Silver does not have VAT add (although I think you could do that too here, buying privately from other members.)  I also save up to avoid small quantities with high premiums, so nothing small than a sovereign for me.

I still have the gold bug, and get excited whenever I buy any bullion, but like to think have got a little more sensible with experience and from readingthe information available here.

Welcome to the forum.

[Arganto]

Welcome to the Silver Clinic. There is no cure, give in now, enabling is virtuous.

There are some proofs that are highly anticipated and seem to appreciate (Una and the Lion for example) whereas some are only desirable to a select few and finding those folk come resale time isn't always a reality. I personally tend to steer clear of proofs unless they are more or less bullion price or it's something I really fancy. Most of my stuff is earmarked as long term savings or potentially as an inheritance for sproggos so I tend to view things through that lens. It doesn't stop me enjoying the things I pick up but it does narrow my focus somewhat. That said if you really like a proof as something to admire and collect then there is a lot to be said for not fretting too much about a return at some point down the line. Sometimes things should just be enjoyed for the purpose of enjoyment. 

 

 

[Dazlenk]

Hi all, thanks for the welcome and words of advice. I've already bought my first 2 silver coins from one of the members on here! But as far as stacking gold fractionals (learnt something already lol) is concerned, which website would be the best to go to and is it better to go for bars or coins? and if coins, which ones, for example sovereigns or Britannia's? sorry for all the questions! cheers.

[Arganto]

9 minutes ago, Dazlenk said:

Hi all, thanks for the welcome and words of advice. I've already bought my first 2 silver coins from one of the members on here! But as far as stacking gold fractionals (learnt something already lol) is concerned, which website would be the best to go to and is it better to go for bars or coins? and if coins, which ones, for example sovereigns or Britannia's? sorry for all the questions! cheers.

Sovereigns are by far the cheapest way to stack fractional gold. Premiums over spot on the trade section here go from 2-5% for bullion, dealers are from around 4.5% upward. There are usually a good amount being sold by members and there are plenty of reputable dealers. There is a list of dealers on here where members can review them, there is also a price comparison tool for certain types of coins/bars. Many dealers maintain a presence on the forum.

There are always good deals on other coins and bars too be had, especially from 1oz in weight upward. A good idea is to work out a strategy for yourself; why are you buying, how much are you likely to hold come the time to sell (if you intend to sell at all) etc. It will help guide you on whether to worry about CGT, storage space and other considerations.

 

[Dazlenk]

24 minutes ago, Liam84 said:

Sovereigns are by far the cheapest way to stack fractional gold. Premiums over spot on the trade section here go from 2-5% for bullion, dealers are from around 4.5% upward. There are usually a good amount being sold by members and there are plenty of reputable dealers. There is a list of dealers on here where members can review them, there is also a price comparison tool for certain types of coins/bars. Many dealers maintain a presence on the forum.

There are always good deals on other coins and bars too be had, especially from 1oz in weight upward. A good idea is to work out a strategy for yourself; why are you buying, how much are you likely to hold come the time to sell (if you intend to sell at all) etc. It will help guide you on whether to worry about CGT, storage space and other considerations.

 

When you say the trade section of the forum do you mean the buy and sell?

[Jvw]

On 03/11/2021 at 16:06, Dazlenk said:

Hi All

Greetings from Wales, I'm a total beginner as far as collecting/stacking goes. For some reason I bought some small gold bars from Bullion by Post (probably not the best place to buy from!) a few weeks ago. I got a Pamp 1g and 5g, once they arrived I suddenly got the bug! I've now got a Nadir 1 oz silver bar, 2 x 2021 silver Britannia's a 2021 1 oz silver Krugerrand and a 2021 1 oz silver Panda. My Mrs thinks I've gone a bit nuts lol. I haven't really got a clue what I'm doing so joined this forum in the hopes of learning how to collect and stack properly without getting ripped off. I originally thought of it as an investment but really like the look of the coins I've got so wouldn't mind collecting too, but as I said I know f~*$ all! Any advice along the way would be gratefully received. Cheers

P.S Are proof coins/sets worth buying from an investment point of view or are they just for collectors who like them?

Welcome aboard! 

I prefere coins over bars. Sign up as a paid member and you can find some real deals in the for sale section. I collect bullion mostly (sovs!) But I also buy my occasionally (Reverse) Proof Libertad.

[CadmiumGreen]

Welcome aboard The Silver Forum!

[Centauri167]

Welcome on this great forum, it will be a place were you will learn a lot more about collecting and stacking !

[ChrisSilver]

Hello and welcome to The Silver Forum