Newbie Alert!

[DrDave]

Hi everybody.

I'm fairly new to silver collecting and stacking (actually didn't realise that stacking was a thing, if i'm honest). I probably have about 50oz silver, so relatively small time at the moment.

I thought that the best way to create a stack would be to collect, for instance, all years of Britannia bullion and then Maple etc etc. but i'm open to good deal if i see one.

I'd like to add silver bar at some point, but i find coins more interesting tbh.

One question though, whats the general consensus on collectable silver coins, such as the Royal Mint Music Legends or Beatrix Potter? Are they an investment, as they obviosly carry a larger premium.

Anyway, i'm looking forward to sitting back later and having a proper read through the posts and maybe even joining in a thread or 2.

Hope you all have a prosperous day

Dave

Edited July 26, 2022 by DrDave
typo

[Happypanda88]

Hello! Welcome to the forum

[James32]

Welcome aboard. 

As an investment, stick with the lowest price bullion you can safely find, then treat yourself to the odd premium coin/bar that you really like now and again. 

[Alex944]

Hi Dave,

Welcome to the forum!

Already sitting at over a kilo of silver is no mean feat. ''Small time'' or not, that's definitely a symptom of the stackers bug. Good luck kicking that habit  

General consensus on collectable silver coins is... mainly opinion! In my opinion, the absolute majority of the time they are not worth it as an investment. For every collectable that increases in value, there'll be dozens of examples that dropped against their original RRP at the time of sale. So as in investment probably not. However, if you absolutely love the coin and enjoy it... then it may absolutely be the right buy for you! I'm sure a lot of the UK folks can give you better insights on the RM collectables as that's not a world that I am currently involved in.

Few things to often keep in mind when making your purchases (or at least I do) :

- Ask yourself why you are buying. Is it for your own collection? Is it with the intent to sell for a profit (investment) or hold for longer term before selling?
- Do you know how and where to sell according to your strategy? Do you know how to sell if you were forced to due to life circumstances? Silver and gold are great, but push comes to shove, don't necessarily cover your bills if you'd had to do so urgently. 

When it comes to stacking, it helped me to put in some boundaries for my purchases to keep aligned with my stacking goal. When it comes to collecting I am more liberal in terms of the prices I pay for coins; I am personally OK with ''over paying'' a few %'s for pieces that I add to my long term collection; I have no intention of selling them anytime soon, so for me that doesn't matter too much.

Sometimes I buy coins with the purpose of re-selling or trading in the future. When that's the case, price is important. It can be hard sometimes to make the right calls and I have made plenty of mistakes in that sense. I tend to see that as me paying for a lesson  

I'd argue that stacking and collecting is quite a personal journey, in the sense that objectives and opportunities are different per person. As long as you are enjoying what you are doing and are able to add to your stack/collection in a debt-free manner, you are (in my opinion) always on the right track.

Have a prosperous day yourself!

All the best,

Alex

[trp]

Hello, Dave. Welcome to TSF!  

[Oddjob]

G'Day and welcome.

[daca]

Welcome aboard and enjoy the ride!