Newbie advice

[Marcus12]

Hi all,

I’m new to this forum and I have to say I know next to nothing about collecting/investing coins. 
 

That’s ok because I’m not necessarily interested in coins. I want to buy gold solely to preserve buying power at any point in time/hedge against inflation.

does anyone have any advice? Seems like a lot of bullion dealers (in London) have quite significant premiums for gold bars, any recommendations?

 

when it comes to reselling the bars at whatever point in the future, what are the different avenues one can take?

 

thanks

 

Marcus

 

 

 

[dicker]

Firstly, it is worth introducing yourself in the new members first.

Secondly there is an absolutely Wealth of information and your question has been answered many many times before  - feel free to use the search function as a starting point.

Cheers

Dicker

[GoldDiggerDave]

You can move 1oz gold coins and sovereigns easier than bars imho.  Go with what you like buy and sell and you will learn though your experiences.

[Lyrinn]

If you're starting from dot, explore the forums and threads. The "Silver", "Gold" and "General Precious Metals" areas are a good place to start. Go check out the buy/sell section too (though some will be marked as complete, it can help to see what prices things go for. there's also a "Compare" tab (fourth tab) on the header to see what dealers are doing.

[Scootermuppet]

Hi @Marcus12 - definitely worth an intro as mentioned 👍

and - fair warning - I’d think most of us ‘ Just wanted to store some wealth in Precious Metals’ to start with,  but it’s pretty hard to ignore the ‘inner Magpie’ once you start seeing some of the Shiny beauties on the forum (the coins that is, not the dodgy content in the Nether Regions of the forum 😏)

I started out stacking Silver Britannias, as they were a low cost way to accumulate some wealth that I couldn’t just go spend at a shop…

Fast forward 18 months, and I’ve just had to organise a Safe Deposit Box as the value of the stack has increased - mostly because it turns out Silver is mostly a gateway to Gold! 🤦🏻

And if anyone on the forum offers you a Sovereign - just Say No! ✋ …. and send them to me instead 😅

Enjoy!

Bob

[James32]

2 hours ago, Marcus12 said:

Hi all,

I’m new to this forum and I have to say I know next to nothing about collecting/investing coins. 
 

That’s ok because I’m not necessarily interested in coins. I want to buy gold solely to preserve buying power at any point in time/hedge against inflation.

does anyone have any advice? Seems like a lot of bullion dealers (in London) have quite significant premiums for gold bars, any recommendations?

 

when it comes to reselling the bars at whatever point in the future, what are the different avenues one can take?

 

thanks

 

Marcus

 

 

 

Welcome aboard firstly. 

As @dicker says ,trawl the previous threads and completed sales posts on here,the information you will absorb without trying is worthwhile. 

As @GoldDiggerDave says, stay away from bars until you have built a foundation and have a better understanding if what you're buying. 

@Lyrinn has mentioned a compare tool but I believe you need to be a paid member to use it, on that note my advice is to buy at least a silver membership and for £5.99 a month it will pay for itself in money saved compared to dealers. 

Act fast enough and you will grab bargains on here most days of the week. 

if primarily focusing on gold then stick to either 1oz gold coins or sovereigns, both low premium and CTG free.. then when you get a better understanding you can get a little more variety. 

When it comes to sell, you will realise a better price by selling on here if you have followed the steps above. By introducing yourself and taking part in discussions you will gain trust from fellow members, and likewise you will get a feel for who you can trust. 

The forum is full of knowledge on most subjects so tapping into that knowledge is a positive effect of interaction. You will get out of the forum what you put in. As @Scootermuppet mentioned, it can be quite addictive, so whatever you imagine your budget to be over the next few years ( double it😂)

Best of luck in you're journey and enjoy. 

[jackflash123]

Hey Marcus

You've had some really good advice from several top members of the forum and there's not much I can add to it really, apart from maybe going into more detail about the premium memberships.

The membership level is really key in my opinion. Standard/Free membership will allow you to access virtually all areas of the forum apart from specific areas reserved for paying premium members.

You will get access to the buy/sell sections but all new posts are hidden to non-paying members for 3 days, this allows all Premium members (Silver/Gold/Platinum/Platinum Plus) members to have the first option to buy the listed items, which is one of the main benefits of becoming a premium member. The money you will save on deals on here will cover your membership fees after your first few purchases.

You can still list items for sale as a free non-paying member but you're limited to one post every 30 days. Having a paid membership will allow you to list multiple items for sale, and also take advantage of other people's sales posts as soon as they're listed.

Other benefits to being a paid member include things like being able to attach images to messages and allows you to join in with reactions to other members content such as like, love, lol, thanks etc etc.

Whether you're buying or selling a paid membership is definitely the way to go.

I have been a member of this forum for almost 2 years but only within the last couple of months have I started stacking more seriously so I upgraded my membership, but I honestly wish I had done it sooner.

Good luck with your stacking journey and welcome to The Silver Forum 👍

Edited August 7, 2022 by jackflash123
Typo

[Mtaybar]

Welcome aboard mucker, glad to have you with us. Pretty much everything you need to get started has been covered above. All these members are some of the cream of the crop and their advice is sound. There's many more from where they've come from so go forth and get involved with some of the threads and meet some great and knowledgeable people who will be happy to help. Follow their advice until you find your stride and what suites you and your goals. New crew members are always welcome 🍻

[Gordy]

I'VE GOT LOADS OF ADVICE..... I hVE had a rum or two... coins for gold, bars/coins for silver..... that's it!! simple really

[LawrenceChard]

11 hours ago, James32 said:

As @GoldDiggerDave says, stay away from bars until you have built a foundation and have a better understanding if what you're buying. 

Are you sure he didn't say  stay away from bars unless you're buying him a pint?

😎

[Orpster]

Welcome @Marcus12

This post which was from another new member has a lot of advise on it and is a good place to start

 

 

[Marcus12]

Thanks all for your advice, will have a look at other threads as advised

[Silverlocks]

On 07/08/2022 at 21:54, Scootermuppet said:

(the coins that is, not the dodgy content in the Nether Regions of the forum 😏)

 

I feel personally attacked . . .