Buying silver on a smaller budget

[ShaunR]

What it the most economical way of accumulating silver on a tighter budget?  Thank you for any constructive advice given. 

[AaaGee]

On here is the cheapest ive found.

[Stacktastic]

1 hour ago, ShaunR said:

What it the most economical way of accumulating silver on a tighter budget?  Thank you for any constructive advice given. 

Buy milk posted and scratched coins close to spot. 
Cost average and buy regularly - anyone can afford 1 britannia. Compound it and it will grow
buy more when spot is lower. 
Buy junk silver
Look at facebook groups - here is the best for nice low risk people. 
Become a dealer - stack sell & buy more with you profit. 

[margin]

I’d suggest saving up and keeping an eye on the forum for when the good deals pop up

[CowPat]

One Britannia on here every time you have it bit of space cash is probably the best option. If you keep with it, over not that much time your stack will grow. Likely faster than you might first imagine. 

[HonestMoneyGoldSilver]

TL:DR - Buy a Premium Membership on TSF (silver or above) and hang out in the UK ungraded section.

The most economical way to accumulate silver on any budget is to gain as much knowledge as possible. You are on the right track by posting here

• Be on TSF and buy a Premium Membership - silver or above. This is pretty much essential as the best value deals are hidden from non-premium members for 3 days. If they are good value they will generally sell out within 3 days (or 3 minutes if Salesman32 is on the prowl)
• TSF can offer the best value as there are 0% selling fees. There are other 0% marketplaces like Facebook but that's a much riskier proposition. To successfully navigate risk you have to know the value of each item and also be able to verify authenticity. Verifiers and such tend to be expensive which defeats the purpose. With silver it's very rare to find deals at spot so you need to be hyper-vigilant if you come across any such deals online. TSF is a much safer environment and more accountable than FB or eBay
• Auctions, estate sales, coin clubs and other private sales.

This takes a lot of work but people have managed to buy silver at spot or even below spot from estate sales in particular. When you factor in the time and expense of travelling, researching and participating in auctions, then the real-terms price is higher and proportionally higher the less you buy. Verification can be an issue depending on what you buy. For bullion coins like modern Britannias which have security features you don't need to spend any money verifying

The most time-efficient and viable method is hanging out in the TSF trade section and jumping on good value listings. This depends on spot price and the general mood but you should be able to pick up single silver coins in good condition for £24-28 in a capsule. Most sellers aren't going to offer free shipping on a single coin and the objective is to stack at the lowest possible premium, so, to get the best price you will probably have to buy 10 coins minimum or more likely 20 or 25 coins (a tube) (£500-650)

The cheapest coins lately are probably 2023 KCIII Britannias. There's lots of them about and the going rate appears to be £24.50-28/coin, with a realistic price being in the middle around £26/coin. These offers are generally only available to Premium Members

Buying when spot is "low" is easier said than done especially for silver. Nobody really knows what "low" is for silver and we all have our opinions on that. IMHO the price right now is "low" as I expect it to be higher within the near future. The absolute lowest silver can go IMHO is $18/oz and much more likely the floor is $20/oz (£16). In the UK you have to consider VAT so even if silver is £16/oz spot it's going to be £20/coin + for physical. It's unlikely IMHO to ever be £16 again. There is strong support around $25 (£20), the price keeps bouncing around that support lately. There's more strong support around $22.50 (£18)

Realistically a "low" price for silver in the near future is £18-20/spot. There is the premium to pay for physical on top of that so £24-25/coin is a very good price IMHO and you're unlikely to find coins in good condition below that price unless you are a bullion dealer

IMO buying poor condition coins (badly milked or physically damaged like dings or bent out of shape) is not a great idea. Those are much harder to sell in private sales. You can sell coins in any condition to a bullion dealer but you'll only get spot for them, maybe even below spot if they're really bad, and you paid above spot to buy them. If you purchase a Britannia in good condition for £26 you can sell it immediately if you need to for £26

[margin]

I’d suggest sticking to coins or bars that are easy to sell as well. Pick brits or something that’s pretty common so if you need cash in a hurry it’s easy. I’d avoid sterling silver or some of the ‘premium’ coins that you see from time to time 

[Gordy]

7 hours ago, HonestMoneyGoldSilver said:

IMO buying poor condition coins (badly milked or physically damaged like dings or bent out of shape) is not a great idea.

agreed, same with junk, stay away from junk, it is what it is..... JUNK! 

Brits, on here.... best way to go.. buy in bulk if poss to save on postage costs

[ShaunR]

Thank you, for all the information and opinions.  I look forward to making some purchases on this forum in the near future.

[MBTPSilver]

The absolute cheapest way you're going to be able to buy on a very tight budget would be finding someone local to buy off you can collect from. As soon as you add postage to small quantities of silver you'll be adding a hefty chunk to your premium. That is if we're talking about buying say less than 5 silver Brits at a time.

More than that however and you can probably spread the postage across enough coins to be worth it, particularly buying on here as others have mentioned.

[AaaGee]

10 hours ago, ShaunR said:

Thank you, for all the information and opinions.  I look forward to making some purchases on this forum in the near future.

Just to get an idea. If you were to buy some silver, what roughly would you be looking at spending in one go?

[ShaunR]

£100 month on silver 

[AaaGee]

1oz britannias are turning up here for sale at the moment for between £25.50 and £27 a coin. So 3 of them + post will keep you in budget. Or 4 to take you just over. Also its the 2023 Queen (last) and Charles (first( coins that are doing the rounds at the moment. Some saying they will be popular in the future due to their significance. So id start with a few of them.

If you look at what they are selling for at the dealers, they are selling for a bargain price on here.

Your purchasing power is stronger than mine at the moment 😄👍

[Bigmarc]

On 02/05/2023 at 13:02, ShaunR said:

What it the most economical way of accumulating silver on a tighter budget?  Thank you for any constructive advice given. 

Don't go for sparkly new 999 that is prone to finger prints, weird milky spots and goes a shade of brown when left in the sun. 

Pre decimal! Buy worn, sell worn and currently can be bought cheap on eBay (sometimes below spot of you can be arsed to look). 

https://www.ebay.co.uk/itm/195724556229?mkcid=16&mkevt=1&mkrid=711-127632-2357-0&ssspo=Nm__nix9Tjq&sssrc=2349624&ssuid=&var=&widget_ver=artemis&media=COPY 

 

 

 

[Divmad]

On 02/05/2023 at 15:19, CowPat said:

One Britannia on here every time you have it bit of space cash is probably the best option. If you keep with it, over not that much time your stack will grow. Likely faster than you might first imagine. 

The problem with buying 1 Brit at a time is that normally the seller charges around £3 for postage, adding 10% to the purchase price, just like that.

[MBTPSilver]

15 hours ago, Divmad said:

The problem with buying 1 Brit at a time is that normally the seller charges around £3 for postage, adding 10% to the purchase price, just like that.

This. If you're serious about investing don't buy 1 silver Brit with postage. Better to save up the spare cash and buy multiple coins in one go.

[AaaGee]

100g bars?

[ShaunR]

I don't mind bars. I think if I want to take advantage of the lower prices on this forum. I would need to save 2 months of budget to allow for the membership fee postage and to be able to see posts earlier. 

[JamesH]

On 08/05/2023 at 18:32, ShaunR said:

I don't mind bars. I think if I want to take advantage of the lower prices on this forum. I would need to save 2 months of budget to allow for the membership fee postage and to be able to see posts earlier. 

You’ll also get some sellers here Shaun, willing to hold the purchased items and send in a single delivery (say after a few weeks/months) which would keep your postage costs down as well. Might be worth thinking about 👍🏼

[ShaunR]

Are there particular sellers that are more prolific with their selling on here that I should keep my eyes out for?

[James32]

17 minutes ago, ShaunR said:

Are there particular sellers that are more prolific with their selling on here that I should keep my eyes out for?

A few but not limited to...

@arshimo2012 @ST1986  @BullionMan89 @sellerstacker @DuncanWylieWilson @theman73 @StackSellRepeat @arphethean @BackyardBullion @Bars @kneehow2018 @BullionBob @Mox 

You can also put up wanted post's stating budget and items needed at any given time. As long as price is realistic, your order will be filled rather quickly.