Just starting out...first delivery

[BobP]

Very new member here, based in Portugal, and a few minutes ago received my first delivery to my home.

Have been somewhat excitedly waiting for the postman, and after struggling with all the packaging, have finally got my hands on a small stack of 1oz silver Britannias

I have been poring over forum posts for a few days, and decided I wanted to have a little bit of silver to start, although I will mainly focus on gold as and when I can afford it.   

I used Bullion by post EU, and so far haven't found anywhere more appropriate for my needs. They seem to be competitively priced with free insured postage to my part of the world.

Now to see when I can afford a nice shiny gold Britannia.

[LawrenceChard]

3 minutes ago, BobP said:

Very new member here, based in Portugal, and a few minutes ago received my first delivery to my home.

Have been somewhat excitedly waiting for the postman, and after struggling with all the packaging, have finally got my hands on a small stack of 1oz silver Britannias

I have been poring over forum posts for a few days, and decided I wanted to have a little bit of silver to start, although I will mainly focus on gold as and when I can afford it.   

I used Bullion by post EU, and so far haven't found anywhere more appropriate for my needs. They seem to be competitively priced with free insured postage to my part of the world.

Now to see when I can afford a nice shiny gold Britannia.

It's good to hear you are delighted with your new arrivals, but I must point out:

There is no such thing as free postage.

Whenever you read or hear of "free insured postage", the postage and insurance cost has already been added to the price, and the seller is making you feel good by feeding you propaganda.

My advice is to be aware when you are being targeted by false claims or propaganda, and also to be sceptical of those who try to use it on you, which admittedly is about 90% of the world's businesses including bullion dealers.

😎

[Alex944]

22 hours ago, LawrenceChard said:

There is no such thing as free postage.

This is very true. Though I'll say that in my experience, bullionbypost is good for singular items; often a single piece there with ''free shipping'' is price better than a single piece from a different dealer that doesn't have shipping included yet. From my experience (being in Ireland so still in the EU), shipping is usually between 30-40 Euro. However, if you're buying more than one piece, that ''free shipping'' included in the bullionbypost prices starts to add up, so I usually do purchases of multiple items through a different venue.

Also, congrats on getting your hands on your first few coins! Stacking and collecting is a journey. Mistakes will be made, deals will be missed, but it is definitely rewarding in the long run.

[BobP]

A brief update, having trawled through countless posts recently, finally ordered some gold britannias and a couple of sovereigns. The price included delivery, and I'll be waiting for the postman again when they have been shipped.

Managed to "lose" 120 euros in less than 36 hours as the price has tumbled. 

I'm in it for the long term, so in the scheme of things, not really an issue, but do wish I had been patient for a day or two

[Mark10110]

On 15/07/2022 at 16:18, BobP said:

A brief update, having trawled through countless posts recently, finally ordered some gold britannias and a couple of sovereigns. The price included delivery, and I'll be waiting for the postman again when they have been shipped.

Managed to "lose" 120 euros in less than 36 hours as the price has tumbled. 

I'm in it for the long term, so in the scheme of things, not really an issue, but do wish I had been patient for a day or two

Something you need to learn in the metals space (or crypto space), You are not down till you sell.

For Example, I paid in the ranges of £18 per oz of silver around 2016/2017, I was "down" for about 2 years, then I was up for around 7 months in 2020/2021, I haven't sold so in reality I haven't made a profit or a loss.

It can be a learning curve to not see it as a profit/loss and more of a future profit/loss.

It's not healthy to be market watching too much, Sure watch some youtube vids every so often for entertainment but also keep in mind the biggest "Experts" out there don't know what's going to happen, Off the top of my head I remember Jim Rickards saying in December 2021 " we have reached peak inflation". He was wrong...... so so very wrong. No one can tell you the future, if they claim they know... they are lying. 

(Jim Rickards is the biggest gold/silver bug I know of, and known as top of the field, check his books out)

[Mark10110]

Also great move to make,

Create a spreadsheet of dates you purchased, what you got, how much and use the formula cells so you can always see your average cost over time,

I created a cell where I put in the current price and it tells me my total potential profit loss.

[LittleMan]

I massively overpaid for my first silver coins in 2015. I got a tube of Brits from an expensive place and paid VAT onto. I paid close to £20 per coin, but that does not seem so bad now and I have sold some for a profit.

Some people like to spread their purchases to help average out prices over time.

But as you already seem to understand its a long game. And its not just about the profit/loss, its about the pleasure of owing and collecting some nice shiny things.

You stacking plans and targets will likely change over time as your own life situation changes, but either way I think holding a little gold for 5+ years is a good bet.

Defo stat a spread sheet as others have suggested. I have one too, dont wait too long to start it like I did or you will regret it.

[BobP]

Thanks for the suggestions regarding a spreadsheet. I have a (very) small worksheet that I will use as an inventory. May add some whizzy bits later to track values etc.

Whilst typing this, just received an email with my Fedex tracking number for my first gold purchase. Hopefully arrives tomorrow.

Have had a serious fire here in the last few days, passed a few hundred metres from the house, but fortunately the wind  steered it to one side of us. Helicopters now damping down the last few bits still smoking, scary stuff.

[LittleMan]

Fire sounds crazy.

I saw some news report about the number of wild fires in Europe at the moment, am glad your house was missed.

I am in the south of England, everyone is talking about how hot it is, but is so dry too. We have not had much rain this year.