complete newbie

[dawsss18]

Hello all, 

Just making my first thread just to say hi. 

I am a complete beginner to coin collecting/stacking, but I am hoping to learn a lot on this forum.

I don't have much of a plan or goals just yet, but I'd like to try purchase 2-4oz of silver per month to start with. 

If anyone has any advice or tips it would be greatly appreciated. 

Regards,

[Agpanda]

Hello and welcome to the forum

[shawy2510]

Hi & welcome from another newbie.

If your just stacking go for the cheapest 1oz coins I would say & for collecting buy what you like the look of.

[Oldun]

Hello. Take your time and dont be afraid to ask for advice....all of us have been at the start line at some point.

[Paul]

Welcome @dawsss18 - you will find if you have a hoarding or collecting gene in your body this hobby addictive and can be costly. 

As above - don't be afraid the jump straight in - a few weeks just reading and researching will help you no end

If you are starting small - just getting on 1oz coin from each stock/core coin - Britannia, us eagle, philharmonic, kangaroo, maple leaf, koala, kookaburra, lunar series. Will get you a feel for how things are how they look & feel.

With your buying so few, you will find you will be running at a loss and it will take mega higher prices just to break even on your purchase costs. 

 

If i revisited my stacking journey again, as a few others have quoted in the past, I would have bought gold and just stuck with gold throughout.  

Just stacking boring full and half sovereigns, would have saved me a good few quid on what i spent on over priced silver animals in varying design each year  

After stacking 7+ years myself - my stack is currently nicely (+) positive gold and (-) negative from buying silver. Never has my silver been positive (in profit) in seven years

Whether it will continue this way I don't know, 

 

If you have a few fiat debt tokens in the bank, by all means have a dabble but don't go all in, 10% is advised as to have cash tied up in any one single investment group 

If you are choosing to stack on precious metals on a very low budget, if you are genuinely short of cash  silver/gold is not your best choice of investment  

Far better to get you own financial house in order and just stack cash.  Max out all official avenues that are totally risk free. ISA, savings, premium bonds, some P2P,

Pay down or pay off any debts you have, paying off a 18% credit card balance, than buying a 1oz silver hoping it will go to the moon in price

Build an emergency fund of six months wages or expenses should life throw you some bad luck.  

By stacking cash at least you then have zero risk of loosing any money other than to invisible annual inflation

You should only be dabbling into investing in precious metals until you have maxed out in other risk free financial vehicles. 

Also what is seldom ever mentioned on forums or articles is investing your cash into your own ongoing personal 'education', get better skills for your trade/job, better qualifications that will lead to big wages,  spending a few hundred quid on learning about health, diet, cooking correctly, chef skills, batch cooking, veg growing, baking own bread, tools for your house to do jobs to do yourself, learning car basic repairs & maintenance and many other things I could mention.

Stop buying crap you don't need with money you haven't got, learn to be frugal and lean with what you spend.  Money Saving Expert, Mr Money Moustache sites are a gold mine of gold nuggets of info that will learn you many new ways how to save cash in life

A few weeks just reading up on precious metals with learn you far more than just jumping in with both feet only to regret it down the line

[Bullionbilly]

Some good advise above, i strayed from my origional idea of stacking cheap and bought various bits and pieces, im now going through it trying to off load some of it. I bought because i thought it was nice ( not a bad thing ) but try and have a plan and stick to it.

Once ive got back to cheap/bullion silver i will look at sovereigns and only buy silver if the price drops or a too good to miss deal appears ( which they do on here alot )

Everyone has there own ideas about whats best and who knows for sure ? 

Dont be affraid to ask as oldun says.

[HelpingHands]

Welcome!!!

[BackyardBullion]

Hi and welcome!

[Stu]

Hi and welcome.

[dawsss18]

Hello and thanks for the welcoming messaging everyone. Appreciate it  

@shortstack68 I love the queens beasts coins so i may just do that!

 

@Paul brilliant advice thank you. I will certainly do a lot of reading / watching video's (as @BackyardBullion has already found out, haha). 

I think for me, this is going to be a hobby with the collecting side of things, but i'm also seeing it as a way of saving without the temptation of dipping into it to buy something that i dont really need. And maybe make a profit in the long run too, but if i break even/lose a little bit, it's still better than spending it on something i can't get a return on (holidays, nights out, clothes etc.).

Thanks again for the advice

 

[Pampfan]

Welcome to the forum.

I have learned so much in my short 8 months here.  You will find that we have specialists in a multitude of fields: stacking, numismatics, bars, etc.