Am I Doing The Right Thing?

[Sy007]

I am a mid 40's newly-started stacker. I have been doing a hell of a lot of research into metals and feel comfortable with all aspects of bullion and its risks and benefits. I am an obsessive person by nature. When I go into something, I go all in with gathering info and knowledge until I feel I have mastered the subject. I researched this subject a good year before I bought my first metals.

I am in this for the long term for pension purposes but I am not so sure I am stacking the right way.

As with my other investment portfolios, they are long term too. 

I have invested quite heavily in silver and I have accumulated close to 70 ozt in the last three months since my journey started. I know the best way is to buy steadily but I want to put it away and leave it for 20 years (close to my official retirement age). If I bought steadily, and often, then surely I won't see any benefits when I'm due to cash out. If I was in my 20's then yes, I would probably budget and gather metals every month. The problem with starting stacking later in life is there is no time for the investments to financially grow and help repay the premiums.
Is this the right way to channel your savings when you are a middle-aged person? Is stacking a younger persons investment strategy? 

Like I say I have gone in heavily, against budgeting advice but I now have 20 years for it to grow (hopefully) aswell as giving me 20 years of inflation protection (hopefully)

Gold, I will always budget monthly but is it worth it at my age? Will I see a benefit financially or am I doing this for the sake of saving a few quid?

I hope you know where I'm going with this, it's very difficult to actually put my dilemma into words.

All the best 

Sy

[Upsidedown]

15 minutes ago, Sy007 said:

I am a mid 40's newly-started stacker. I have been doing a hell of a lot of research into metals and feel comfortable with all aspects of bullion and its risks and benefits. I am an obsessive person by nature. When I go into something, I go all in with gathering info and knowledge until I feel I have mastered the subject. I researched this subject a good year before I bought my first metals.

I am in this for the long term for pension purposes but I am not so sure I am stacking the right way.

As with my other investment portfolios, they are long term too. 

I have invested quite heavily in silver and I have accumulated close to 70 ozt in the last three months since my journey started. I know the best way is to buy steadily but I want to put it away and leave it for 20 years (close to my official retirement age). If I bought steadily, and often, then surely I won't see any benefits when I'm due to cash out. If I was in my 20's then yes, I would probably budget and gather metals every month. The problem with starting stacking later in life is there is no time for the investments to financially grow and help repay the premiums.
Is this the right way to channel your savings when you are a middle-aged person? Is stacking a younger persons investment strategy? 

Like I say I have gone in heavily, against budgeting advice but I now have 20 years for it to grow (hopefully) aswell as giving me 20 years of inflation protection (hopefully)

Gold, I will always budget monthly but is it worth it at my age? Will I see a benefit financially or am I doing this for the sake of saving a few quid?

I hope you know where I'm going with this, it's very difficult to actually put my dilemma into words.

All the best 

Sy

Technically you won't really be making money, mainly you'll just not be losing it to inflation. If you want to make money, there are better investments to make than precious metals.

Hoarding PMs is a great way of saving though and if you want to see 20 years into the future, you only have to look 20 years into the past. All our economic worries will certainly not be over in 20 years time, if ever! So it's definitely worth it.

Gold and silver are both great but silver is more volatile in the shorter term but does trend up with inflation.

[Paul]

You sound a similar age to me, my little life story may help or guide.

........... I've posted my little how I got into gold story in prior years, but it seems relevant to this thread today. Here's it again 
 

     
 

    I'm 45 now and through my twenties, i guess I must have staked and wasted around £75k-£100k at a rough guess through bookies, FOBTs, online poker and land based casinos.
    
    
    
    Some good days but it all quickly went back as losings in the end.
    
    
    
    I went cold turkey at 30-31 and managed a few months until i relapsed again.
    
    
    
    Told myself never again.
    
    
    
    It was this time I found about gold, since 2008-2009 I have bought investment gold every month, a gold sovereign here, a half sovereign there, 1/2 oz on a good month, a full oz of fine gold when bonus from work.
    
    
    
    What this did was separate actual cash i could gamble and move it into another tangible thing with value that i couldn't easily spunk away or spend.
    
    
    
    Slowly but surely, my gold stack has grown, every month, as i would buy a another gold coin every fortnight or so.
    
    
    
    The ancient Aztecs called Gold 'the sweat of the sun'
    
    
    
    Blood, sweat, tears and toil getting it out of the ground.
    
    
    
    YOUR blood sweat and tears represents how hard you have worked to get this coin you now hold, and continue to hold ongoing.
    
    
    
    Your pile of gold increases monthly.
    
    
    
    Gold is also a little bit of a gamble, it will never go to zero, it has been money for 5,000+ years, and can also go up in value
    
    
    
    Currently im now VERY nicely up in £ terms if i chose to cash in and take some profits.
    
    
    
    A quote stuck with me quite prophetically, as i've never believed in loans or credit cards.
    
    
    
    “Gold is the money of kings, silver is the money of gentlemen, barter is the money of peasants – but debt is the money of slaves.” ― Norm Franz, Money & Wealth in the New Millennium: A Prophetic Guide to the New World Economic Order
    
    
    
    The bigger my gold stack grows the more satisfied I become and want more. A positive kind of addiction.
    
    
    
    I have not yet cashed in one single coin for gambling and my investment pile has grew.
    
    
    
    I have cashed gold in here on the forum and realized better than dealer prices to increase my business and expand/buy new vans/staff/tech
    
    
    
    This degree of separation that takes place between the gold coin and actual cash i can spunk gambling is awesome.
    
    
    
    Yet i know at a glance my total gold grams i have on any given day, and know how much it is worth should i cash in.
    
    
    
    When money is in a bank AC it is just like figures on a screen to me, cash in my hand just gambling token/betting voucher credits.
    
    
    
    I could never hold onto money while it was in a bank account, savings account would be were there for good intention but the money came out for gambling.
    
    
    
    Gold doesn't do that for me, the degree of separation between between the time and effort it takes to cash in a gold coin, packing posting, sending, waiting for bank transfer for payment etc. is a few days minimum.
    
    
    
    By which times my urge to gamble has long since past.
    
    
    
    whilst i will always have that gamble bug inside me, i cant extinguish that flame as i like to to take risks, i'm self employed and risk = reward. and i have done well working over the years.
    
    
    
    I still have my monthly little gamble, but as my priority with my spare cash is always to buy a minimum amount of gold, i'm never exposed to loose mega money EVER, fact these days, as the money isn't there because it has been converted from one asset class cash into another asset gold.
    
    
    
    The small amount i assign myself to have a gamble is minimal, £100 or £200 for a month. should i win, i actually treat myself to some more gold coins for my stack.
    
    
    
    With doing this approach and putting what used to be gambling stake money cash into gold, i've got my good nest egg of gold if i cashed it in from my safe deposit box.
    
    
    
    I purposely store the gold in a safety deposit centre in a city that is hours drive/train ride away to resist the sudden urge to gamble/cash in.
    
    
    
    A financial advisor would tell you it is stupid and daft to put all your eggs in one basket with one asset/investments, but to a gambler?
    
    
    
    would i sooner have this,  lots of gold is much better than having nothing at all, **** all to show for it - so it works for me
    
    
    
    Knowing this fall back of savings is there for any of lifes eventualities makes me sleep wonderfully at night.
    
    
    
    This approach may not be for everyone but if you can never hold onto money it has worked wonders for me.
    
    
    
    Sorry for the rambles length here today but to those nodding their head to this and this life course maybe sounds a familiar path to yours, if my narrative resonates with you, give gold a try. please try it, you might just like it, or start just buying gold with your big wins.
    
   https://www.thesilverforum.com/topic/32375-your-gold-story-how-it-happened/?do=findComment&comment=416089
 

     
 

     
 

     
 
https://www.thesilverforum.com/topic/60379-anyone-else-addicted-to-buying-gold/?do=findComment&comment=638451

 

I'm about 15 years into my stacking journey, ahead of you though 

[Upsidedown]

3 minutes ago, Paul said:

YOUR blood sweat and tears represents how hard you have worked to get this coin you now hold, and continue to hold ongoing.

@Paul I never took you for a wise man!

I love this take, I might just look at my gold a little bit differently now.

[Paul]

2 minutes ago, Upsidedown said:

@Paul I never took you for a wise man!

I love this take, I might just look at my gold a little bit differently now.

I give better advice to others, I should listen to myself more often

[SeverinDigsSovereigns]

25 minutes ago, Paul said:

You sound a similar age to me, my little life story may help or guide.

........... I've posted my little how I got into gold story in prior years, but it seems relevant to this thread today. Here's it again 
 

     
 

    I'm 45 now and through my twenties, i guess I must have staked and wasted around £75k-£100k at a rough guess through bookies, FOBTs, online poker and land based casinos.
    
    
    
    Some good days but it all quickly went back as losings in the end.
    
    
    
    I went cold turkey at 30-31 and managed a few months until i relapsed again.
    
    
    
    Told myself never again.
    
    
    
    It was this time I found about gold, since 2008-2009 I have bought investment gold every month, a gold sovereign here, a half sovereign there, 1/2 oz on a good month, a full oz of fine gold when bonus from work.
    
    
    
    What this did was separate actual cash i could gamble and move it into another tangible thing with value that i couldn't easily spunk away or spend.
    
    
    
    Slowly but surely, my gold stack has grown, every month, as i would buy a another gold coin every fortnight or so.
    
    
    
    The ancient Aztecs called Gold 'the sweat of the sun'
    
    
    
    Blood, sweat, tears and toil getting it out of the ground.
    
    
    
    YOUR blood sweat and tears represents how hard you have worked to get this coin you now hold, and continue to hold ongoing.
    
    
    
    Your pile of gold increases monthly.
    
    
    
    Gold is also a little bit of a gamble, it will never go to zero, it has been money for 5,000+ years, and can also go up in value
    
    
    
    Currently im now VERY nicely up in £ terms if i chose to cash in and take some profits.
    
    
    
    A quote stuck with me quite prophetically, as i've never believed in loans or credit cards.
    
    
    
    “Gold is the money of kings, silver is the money of gentlemen, barter is the money of peasants – but debt is the money of slaves.” ― Norm Franz, Money & Wealth in the New Millennium: A Prophetic Guide to the New World Economic Order
    
    
    
    The bigger my gold stack grows the more satisfied I become and want more. A positive kind of addiction.
    
    
    
    I have not yet cashed in one single coin for gambling and my investment pile has grew.
    
    
    
    I have cashed gold in here on the forum and realized better than dealer prices to increase my business and expand/buy new vans/staff/tech
    
    
    
    This degree of separation that takes place between the gold coin and actual cash i can spunk gambling is awesome.
    
    
    
    Yet i know at a glance my total gold grams i have on any given day, and know how much it is worth should i cash in.
    
    
    
    When money is in a bank AC it is just like figures on a screen to me, cash in my hand just gambling token/betting voucher credits.
    
    
    
    I could never hold onto money while it was in a bank account, savings account would be were there for good intention but the money came out for gambling.
    
    
    
    Gold doesn't do that for me, the degree of separation between between the time and effort it takes to cash in a gold coin, packing posting, sending, waiting for bank transfer for payment etc. is a few days minimum.
    
    
    
    By which times my urge to gamble has long since past.
    
    
    
    whilst i will always have that gamble bug inside me, i cant extinguish that flame as i like to to take risks, i'm self employed and risk = reward. and i have done well working over the years.
    
    
    
    I still have my monthly little gamble, but as my priority with my spare cash is always to buy a minimum amount of gold, i'm never exposed to loose mega money EVER, fact these days, as the money isn't there because it has been converted from one asset class cash into another asset gold.
    
    
    
    The small amount i assign myself to have a gamble is minimal, £100 or £200 for a month. should i win, i actually treat myself to some more gold coins for my stack.
    
    
    
    With doing this approach and putting what used to be gambling stake money cash into gold, i've got my good nest egg of gold if i cashed it in from my safe deposit box.
    
    
    
    I purposely store the gold in a safety deposit centre in a city that is hours drive/train ride away to resist the sudden urge to gamble/cash in.
    
    
    
    A financial advisor would tell you it is stupid and daft to put all your eggs in one basket with one asset/investments, but to a gambler?
    
    
    
    would i sooner have this,  lots of gold is much better than having nothing at all, **** all to show for it - so it works for me
    
    
    
    Knowing this fall back of savings is there for any of lifes eventualities makes me sleep wonderfully at night.
    
    
    
    This approach may not be for everyone but if you can never hold onto money it has worked wonders for me.
    
    
    
    Sorry for the rambles length here today but to those nodding their head to this and this life course maybe sounds a familiar path to yours, if my narrative resonates with you, give gold a try. please try it, you might just like it, or start just buying gold with your big wins.
    
   https://www.thesilverforum.com/topic/32375-your-gold-story-how-it-happened/?do=findComment&comment=416089
 

     
 

     
 

     
 
https://www.thesilverforum.com/topic/60379-anyone-else-addicted-to-buying-gold/?do=findComment&comment=638451

 

I'm about 15 years into my stacking journey, ahead of you though 

It's good to hear that you have given up on gambling and that your life has been quite normal again. On the other hand perhaps this is evidence how addictive that yellow metal is.

[Paul]

6 minutes ago, SeverinDigsSovereigns said:

It's good to hear that you have given up on gambling and that your life has been quite normal again. On the other hand perhaps this is evidence how addictive that yellow metal is.

It's a lovely addiction, hoarding the yellow shiny shiny

If I'd started at 18 I'd be retired by now money I've had through hands and I would guess have 1-2 million squid in the bank/value/safe deposit box 

Lives and learns {sigh} 

[SeverinDigsSovereigns]

59 minutes ago, Sy007 said:

When I go into something, I go all in with gathering info and knowledge until I feel I have mastered the subject. I researched this subject a good year before I bought my first metals.

Stacking in my opinion is well worth it. It won't make you rich overnight, and as @Upsidedown said there are many other ways of making a lot of money (with risks associated). But the psychology of ownership is a huge upside. This is one of the hobbies where you could pour massive amount of money without losing much of the value, and the joy of holding your metal is expensive to compensate otherwise. I'd say ownership is the best thing to happen to someone.

 

1 hour ago, Sy007 said:

Gold, I will always budget monthly but is it worth it at my age? Will I see a benefit financially or am I doing this for the sake of saving a few quid?

I would actually argue that gold is even better than silver. Historically gold has performed better, and it's coloured so even more excitement looking at it. Of course gold is more expensive, but it can't do harm to diversify your holdings. 

[SeverinDigsSovereigns]

3 minutes ago, Paul said:

It's a lovely addiction, hoarding the yellow shiny shiny

If I'd started at 18 I'd be retired by now money I've had through hands and I would guess have 1-2 million squid in the bank/value/safe deposit box 

Lives and learns {sigh} 

Well, try exercising and keeping a healthy lifestyle. It helps you live longer, and longer life=more gold. Enjoy!

[Xander]

1 hour ago, Sy007 said:

I hope you know where I'm going with this, it's very difficult to actually put my dilemma into words

It's good to ask for advice. At the end of the day, it's you who must decide what to do with it. We must learn from our mistakes if we are to progress, as they say, if you don't make mistakes, you don't do anything. I used to spend tens of £thousands buying utter s**** until one day my son said to me, you should try buying gold, ( he was into bitcoins at the time, ) ok, I reluctantly gave it a go. I never looked back, I'm hooked and love it.

I don't worry too much about the future. As someone once said...the future belongs to none. 

[Paul]

32 minutes ago, SeverinDigsSovereigns said:

Well, try exercising and keeping a healthy lifestyle. It helps you live longer, and longer life=more gold. Enjoy!

All good on that score 

[AaaGee]

Ive been stacking gold n silver for about a year now. Totted up the value if i sold it now (looking at prices recently of what items have sold for on here). Very surprised and happy of how much i have purchased in that time.  Im almost 50., skint and hanging out for payday. So yes, it is addictive.

[HonestMoneyGoldSilver]

1 hour ago, Paul said:

whilst i will always have that gamble bug inside me, i cant extinguish that flame as i like to to take risks, i'm self employed and risk = reward. and i have done well working over the years.

    I still have my monthly little gamble, but as my priority with my spare cash is always to buy a minimum amount of gold, i'm never exposed to loose mega money EVER, fact these days, as the money isn't there because it has been converted from one asset class cash into another asset gold.
    
    The small amount i assign myself to have a gamble is minimal, £100 or £200 for a month. should i win, i actually treat myself to some more gold coins for my stack.

1 hour ago, Paul said:

It's a lovely addiction, hoarding the yellow shiny shiny

If I'd started at 18 I'd be retired by now money I've had through hands and I would guess have 1-2 million squid in the bank/value/safe deposit box 

Lives and learns {sigh} 

I'm delighted you've caged or at least tamed your demons.

As someone with similar experience I think you're taking a risk by doing any casino/slot gambling. I'd humbly suggest banning those things from your life completely. If you need to gamble give yourself a chance to win - poker, sports betting, derivative trading or buy and sell stocks, even buy and sell numismatics!!

The casino/slots are nothing more than a tax on your life. The FOBTs have an RTP of 92-94%, which is horrendous. Many online casinos have 96% + RTP and are still impossible to win on. Know with certainty that if you play for long enough you will lose, the games are mathematically guaranteed to take your money. Think where that money is going, even if it is only £100-200/month - it's going to fund a scumbag like Deborah Meaden or Denise Coates. Anyway, peace and God bless you my friend. 

[HonestMoneyGoldSilver]

2 hours ago, Sy007 said:

I am a mid 40's newly-started stacker. I have been doing a hell of a lot of research into metals and feel comfortable with all aspects of bullion and its risks and benefits. I am an obsessive person by nature. When I go into something, I go all in with gathering info and knowledge until I feel I have mastered the subject. I researched this subject a good year before I bought my first metals.

I am in this for the long term for pension purposes but I am not so sure I am stacking the right way.

As with my other investment portfolios, they are long term too. 

I have invested quite heavily in silver and I have accumulated close to 70 ozt in the last three months since my journey started. I know the best way is to buy steadily but I want to put it away and leave it for 20 years (close to my official retirement age). If I bought steadily, and often, then surely I won't see any benefits when I'm due to cash out. If I was in my 20's then yes, I would probably budget and gather metals every month. The problem with starting stacking later in life is there is no time for the investments to financially grow and help repay the premiums.
Is this the right way to channel your savings when you are a middle-aged person? Is stacking a younger persons investment strategy? 

Like I say I have gone in heavily, against budgeting advice but I now have 20 years for it to grow (hopefully) aswell as giving me 20 years of inflation protection (hopefully)

Gold, I will always budget monthly but is it worth it at my age? Will I see a benefit financially or am I doing this for the sake of saving a few quid?

I hope you know where I'm going with this, it's very difficult to actually put my dilemma into words.

All the best 

Sy

First of all you're not that old 😁

I'm a silver bull but I hold roughly equal value in gold. I buy gold mostly for insurance and silver mostly for volatility, hopefully volatility in the right direction 😂

Nobody has a crystal ball, we can't say if you're "stacking right" or not. In general if you're stacking at all you've made a wise decision but you shouldn't put all of your eggs in one basket. If you are thinking over a 20-year horizon then stocks and even bonds are proven to outperform gold and silver. Your portfolio should ideally contain a maximum of 25% precious metals with the rest in real estate (your house), stocks, bonds and other commodities. The mainstream financial professionals will tell you a maximum of 15% in precious metals

Should you buy slow and steady regardless of the price and DCA (Dollar Cost Average)?

Hmm, maybe, a lot of people love that strategy and I do a little bit of that by buying things I like. My main strategy is not like that though, I'm a contrarian investor and heavily buy the dips, not when the market is pumping. You don't have to be a rocket scientist to buy the dip. A few weeks ago silver was above $26/oz and recently went below $23/oz. It's not hard to see a purchase at $23 gives you better value than a purchase at $26. Many experts and wealthy people bought in big during covid and still haven't broken even on those purchases yet. I'm sure they will within the next 5 years but if you can time the market even in the broadest sense it will make a big difference over 20 years. Silver and gold are volatile, there will always be peaks and troughs. 

What type of silver are you stacking out of interest and where did you buy it?

I buy majority legal tender silver (UK coins with a face value) along with pieces I know will stand the test of time - e.g. Perth Mint/RAM, Johnson Matthey, Engelhard. I intend to hold most of it forever, a bit like yourself, and I want it to still look good 20 years from now and command a high premium. If silver moons it won't matter about milk spots or tarnish, you'll still do incredibly well, but if it's possible then I'd like to have legal tender and good condition items. 

[jultorsk]

It's a good read below. Good luck! 

https://www.thesilverforum.com/topic/60758-strategy-i-dont-like-silver-am-i-wrong/

Also, refer to @LawrenceChard

https://www.chards.co.uk/guides/advice-guide-for-uk-bullion-investors/1041

[sixgun]

You say at your time of life you haven't got long to make back the premium from buying the metal. You talk about 20 years. How long do you want?

You have bought a bit over 2 kg of silver. i don't know what your personal circumstances are but 2 kilos is not heavy, so don't think you have been rash. Some people might say you have not gone in heavy enough.

Sadly you missed on the VAT free period before BREXIT. The prices have gone up inside the EU - so the window was already closing. The authorities have got heavy on German dealers using the VAT loophole, Estonia now charges VAT on silver coins and even goldsilver.be has in the last few months seen price rises. The cheapest 1 oz on goldsilver.be that i can get (converted from EUR) is £22.67 - which might sound cheap but it is not as cheap as it used to be.

If you were in the EU i would say carry on with silver. When i randomly looked at Atkinsonsbullion.com a 1 oz Charles Britannia is over 30 quid. This is just ridiculous. So if you want to continue buying silver, get it off TSF and not dealers charging these prices. The 1 oz coins are more expensive but are more liquid than say 1 kilo bars. You pay more but you can sell for more. 

The only reason to buy silver is that you imagine prices will go up faster than gold. Some people believe this. Personally i do but i have got my stack even if it is at the bottom of the sea after my tragic boating accident. i can watch and wait before i send down divers to get it back. 

In general i would say buy gold. Buy gold sovereigns. Don't worry that gold seems expensive. Gold on blockchain rails will be the money of the future. You cannot go wrong with gold. Paper assets could quite literally go up in flames but gold is gold and is the money of all time. You cannot have too much gold except where you have spent all your fiat cash and you don't have enough to cover surprise bills. i will repeat - paper assets could go up in flames - many people expect that to happen. When you have gold coins in your little hideaway you don't worry, you sleep well - you see a dip in the price of gold and see if you can get a bit more gold this month. I never ever worry about the metals prices with respect to my stack.

There are loads of sovereigns have been coming up on the forum. i would say this is one of the best places there is to buy them. Some sellers will hold coins for you whom i would trust to do so. So as long as you are pretty sure you will be coming back for more you can reduce the cost of postage. There are plenty of A+ sellers that you can trust on TSF.

In general there is no yield on gold and silver - there are ways to do this but for the moment i would recommend you get sovereigns, keep them safe and look after them.

In our present times gold is solid gold as a long term investment - it is a no brainer. If you are a cautious guy it is your best friend.

 

[CaptCaveMan]

I've always been a collector/obsessive person of sorts, similar to you @Sy007 and have a few collections of bits 'n pieces but have always wanted a little bit of gold since who knows when but with finances, family, mortgage etc. the usual things in life I never did it and only started ~2.5 years ago.

I can't save for sh$t and always grafted, I've struggled to get where I am today - multiple jobs to save a deposit in my teens/twenties, weekend jobs when the kids were younger and more recently a seasonal job with my lad so he could earn some money and it saved me multiple trips dropping him off and picking him up which also put a little extra in my pocket.

I watched YouTube, googled and read up before deciding on 1oz Silver Brits but soon realised I'd missed the boat with VAT now added on purchases in the UK, another 20% on top of the premiums... I could however just about afford a regular Sovereign at the time.

My reason/focus are my kids.  I don't want them going through life in a similar vein and still having nothing to show for it as no way will they afford a mortgage unless the bank of mum and dad can help, at the same time I'm not going to hand them anything on a plate... if they can save a deposit, I'll match it so it becomes affordable.

Oh, I turned 5.0 this year, so started at a similar age, perhaps a bit older...  Our only debt is our mortgage which is decreasing nicely with overpayments.  My Silver stack is a similar figure to where your at now but the Gold 'savings plan' I've started and added extra to when funds allow has built up quickly in that time.  I've spent the 'fiat' money, it's long gone but the real money, I haven't touched and the collector/obsessive person in me wants to finish what I've started - win/win.

[HonestMoneyGoldSilver]

I agree with @sixgun and @CaptCaveMan - you should seriously be looking at gold. A defensive investor (insurance/stability) will run a 2:1 gold ratio - i.e. if you have £1000 you should own £667 in gold and £333 in silver. I own gold and have no mortgage so I can speculate if I want to. I choose to run a more aggressive silver strategy as I believe the fundamentals support silver rising faster than gold. The points about VAT are very valid and yes 100% buy your silver on TSF, never from a dealer

[Sy007]

Thanks all for your amazing replies and advice. I was just worried that I was going in too fast too soon. I have used the forum a lot as there are some amazing deals to be had here. I have most of my silver from here at around £24 to £26/ozt. I have bought some unique coins from other places as the odd one makes the stacking a little more interesting for me. 
Thank goodness for this forum because who the hell are we supposed to talk to about this?

You are a great community and I'm so pleased to be a part of it.

All the best

Sy 
 

[Upsidedown]

7 minutes ago, Sy007 said:

I was just worried that I was going in too fast too soon.

There's certainly no rush, people have been putting cash into metals for decades and will be for decades to come. Don't buy into the fear mongering that the west is about to crash and burn, or that cash will turn useless overnight. Although technically a possibility, it's extremely unlikely.

[CazLikesCoins]

All I'll add is don't get too obsessed with buying gold. It's no fun if all your savings are in the form of the shiny yellow stuff and you can't afford to pop out for a newspaper and a bottle of milk. Also don't give up on the fun things in life, a new jumper, a nice haircut, some Tescos Finest Christmas puds instead of Aldi specials. I mean you can't take it with your can you? Well you can in the form of Christmas puds stuck on the waistline but to summarise my waffle moderation in all things, taste it and see. Some people go full on Goldfinger and get obsessed with the stuff to the detriment of all else. Body odour, poor dental hygiene, nostril hair flourishing, the works but have tons of golds, well maybe pounds not sure but a lot. And no teeth! So find a balance and be happy. You know what happened to King Midas.

[sixgun]

11 minutes ago, Sy007 said:

Thanks all for your amazing replies and advice. I was just worried that I was going in too fast too soon. I have used the forum a lot as there are some amazing deals to be had here. I have most of my silver from here at around £24 to £26/ozt. I have bought some unique coins from other places as the odd one makes the stacking a little more interesting for me. 
Thank goodness for this forum because who the hell are we supposed to talk to about this?

You are a great community and I'm so pleased to be a part of it.

All the best

Sy 

BYB did a video recently where he was extoling the benefits of numismatic silver over generic.

Coins have 2 components to their value.
1 Metal value
2 Collector value

Some coins sell for or near spot because few see them as worth anything more than their metal value. One day they will probably end up in the melting pot.

BYB was saying that numismatic silver coins had been better investments. 

This is generally true but be aware of a few things.

999 silver coins have often tended to develop milk spot. It is surprising that some people, even well know dealers, claim they didn't know about it until they came to places like TSF. Milk spot will trash the value of your numismatic silver coins. Milk spot has destroyed the appearance of your coin and cannot be removed without abraiding the surface. If you have spent a lot on the numismatic value of a coin you just went and lost most of that if it develops milk spot. Some mints were / are infamous for it, especially the Canadian Mint, although the Canadian Mint claims to have got this under control.

Collector value is in the eye of the collector community. There are fashions and gimmics. A coin or series can be all the rage but then falls out of favour a few years later. Do not go for gimmic coins. Beware commemorative coins, especially if they feature royal personages. Beware most colourised coins. There are lots of high priced coins, some of them very attractive but in general i would not touch them. i might think they are better than sliced bread when they appear but a few years down the line they have lost their novelty and are more reminiscent of a mouldy crust. 

If you pick nice proof coins, from a good mint, especially in a good series they can turn out to be a good investment. This takes experience and knowledge - it also take a 'je ne sais quoi' - some people have an eye for winners and some people just don't. If you don't and don't take advice you could end up throwing money away.

The situation where numismatics are the better investment could well change if and when silver appreciates a lot. If the price of silver trebled - just putting forward a number, your £24 silver coin turns into a £72 coin. Your £55 numismatic has to become a £165 coin. The majority of the value of this numismatic coin is in the collector value. Why should the collector value treble just b/c the metal value trebled? i don't believe it would. There is more risk in collector coins and this is where knowledge and an eye really helps.

So until you find your feet i would start collecting sovereigns. 

[sixgun]

26 minutes ago, Upsidedown said:

Don't buy into the fear mongering that the west is about to crash and burn........ Although technically a possibility, it's extremely unlikely.

Look out side it is already happening. Sunak is talking about price controls in the face of over 40 year record food inflation. This is End Times talk. Price controls don't work. The shops will empty out. It will end in tears. We need endless immigration to pump up property prices and support pension payments. As soon as prices make property unobtainium and the property market starts to crack, the not so good ship UK will end up at the bottom of the sea along with my silver stack.

[CazLikesCoins]

1 minute ago, sixgun said:

Look out side it is already happening. Sunak is talking about price controls in the face of over 40 year record food inflation. This is End Times talk. Price controls don't work. The shops will empty out. It will end in tears. We need endless immigration to pump up property prices and support pension payments. As soon as prices make property unobtainium and the property market starts to crack, the not so good ship UK will end up at the bottom of the sea along with my silver stack.

That's the problem! You bought silver lol. Between the tax on it and the small profit it makes circa 1797 you'll be sitting in a cardboard box eating your shoes while the goldies fly around in their platinum plated helicopters eating white truffles and caviar. I do agree the country is going down. Time to prep! Noodles, water filters, family packs of crisps. Board up the windows say goodbye to your cat before it becomes dinner, eat your neighbours, weld amour to your car, Mad Max! End of the world! We don't need another hero! It's all around the corner! But until it get's here, I'm not bov'ered lol.

[Upsidedown]

5 minutes ago, sixgun said:

Look out side it is already happening. Sunak is talking about price controls in the face of over 40 year record food inflation. This is End Times talk. Price controls don't work. The shops will empty out. It will end in tears. We need endless immigration to pump up property prices and support pension payments. As soon as prices make property unobtainium and the property market starts to crack, the not so good ship UK will end up at the bottom of the sea along with my silver stack.

It's certainly going that way, but we are not looking at an armageddon type scenario. The downfall will take months at the very least. And no one knows just how bad it will be. We came back after the wars, we'll come back again. Life isn't going to end, you won't need a shotgun with you to buy a cabbage. Just don't want new stackers to buy into the chaos, spending everything they have, then they crash their car or whatever and have to buy a new one, no money, sell silver at a loss and then pack in stacking altogether.

So there's really no rush, not if you want to do it right.

Keep cash back for emergencies

 

Also lol, reminds me of my boating accident I'm about to have if the laws on gold ownership change.