Any advice for a new uk based stacker ?

[jrb]

Just purchased my first sovereign and already thinking of the next one 

[JamesH]

Welcome. Best bit of advice to start would be to take out a membership on TSF. That way you’ll get visibility to the best deals the moment they’re posted. Lots of good folk around here that will be able to offer solid advice. Personally I don’t think you can beat gold sovereigns so great start 👍🏼

[jrb]

Thanks James. I've only just found out there is gold on the silver forum... forgive my ignorance 

[AaaGee]

Yeh, get membership to see the offers hot off the press.

Cant go far wrong with sovereigns 👌

 

[SeverinDigsSovereigns]

UK based stackers should focus on CGT exempt gold. Sovereigns and Britannias for instance. These are legal tender coins and won't get taxed for profit. This may or may not change, but for the time being they do hold this advantage.

As UK based stacker you also benefit from the easy access to sovereigns. World recognised and highly liquid. And with trained eyes you can tell whether they're real or fake.

If you buy bulk quantities of sovereigns, you might be lucky enough to find the rare ones and make a profit. Bit like buying lottery but you get your money back even if you don't win.

Edited November 20, 2023 by SeverinDigsSovereigns

[jrb]

Thanks for the advice. Just reading all the diffrent memberships ? I'm not sure which would be best for me. I plan to buy one sovereign at least every 2 months. Any suggestions 

[ZRPMs]

Just now, jrb said:

Thanks for the advice. Just reading all the diffrent memberships ? I'm not sure which would be best for me. I plan to buy one sovereign at least every 2 months. Any suggestions 

When I started here I got the silver premium tier first for a month. By the second week I had saved more than enough on the purchases I made here as opposed to my usual places to cover the year. Apart from the wealth of knowledge that can be found here. Welcome to the forum by the way.

[slack]

12 minutes ago, SeverinDigsSovereigns said:

UK based stackers should focus on CGT exempt gold. Sovereigns and Britannias for instance. These are legal tender coins and won't get taxed for profit. This may or may not change, but for the time being they do hold this advantage.

As UK based stacker you also benefit from the easy access to sovereigns. World recognised and highly liquid. And with trained eyes you can tell whether they're real or fake.

If you buy bulk quantities of sovereigns, you might be lucky enough to find the rare ones and make a profit. Bit like buying lottery but you get your money back even if you don't win.

Yes solid advice 

[Bigmarc]

Don't tell a soul, don't buy in one place, keep records and only buy bits with a view of "how can I sell this" (unless you are planning to take it past the grave). 

It's a nice hobby but would diversify a bit and put your money in other bits also.

[JohnA1]

Also make sure you know exactly why you stack what you stack.

Otherwise you may be tempted to flip something at short notice and get annoyed if you feel you 'lost' money.

...and as Marc says, zip it. Nobody needs to know.

Edited November 20, 2023 by JohnA1

[ZigZag]

So much good advice on TSF, one piece not yet mentioned, if you’re totally new to stacking, then stay clear of eBay; it’s full of traps, particularly for beginners.

[KitboyE17]

My advice for a new stacker. Stay away from high premium collections until you understand the market a bit better. Don’t be swayed by seasonal stackers/collectors going ‘gaga’ over the latest new ‘this or that’ coin. Slow and steady. Ask and learn. Then happily dive in when you feel more confident. Above all - have fun.

[BullionBob]

My advice would be to think of your reasons for deciding to purchase precious metals and then have a plan to include the following.

• Monthly budget
• Spreadsheet tracker
• Details of items you are interested in
• Suitable storage facilities
• Exit plan, i.e how will sell when the time comes.

Whilst in the building phase of your stack, I would suggest not paying to much attention to the daily fluctuations of spot price and instead focus on accumulating metals within your budget. In my early days, I ignored this rule and frequently ended up spending my budget on nights out, meals etc, whilst waiting for spot to drop.

Be sure to shop around but you will often need to look no further than this forum for highly competitive deals.

Personally, I view gold as an alternative savings account and silver as a hobby, purchasing coins / bars that I enjoy.

Also, look to build a profile and and sell some items from time to time, there will always be opportunities to make a little pocket money and reinvest in further metals.

Most of all just enjoy the ride and i'm sure you will soon become addicted like everybody else on the forum. 😀

[Bigmarc]

33 minutes ago, BullionBob said:

I view gold as an alternative savings account

Just keep in mind of how you will liquidate, there are some sales posts over a month old. Not sure what the buy price at the dealers at the mo.

[BullionBob]

5 minutes ago, Bigmarc said:

Just keep in mind of how you will liquidate, there are some sales posts over a month old. Not sure what the buy price at the dealers at the mo.

Completely agree, recent market has certainly provided food for thought. 

[Upsidedown]

I'm turning my stack into mainly sovs, very liquid coins, everyone loves a sov and the size is just right at almost 1/4 oz. Its also nice to clank them together in your hands 🤤 im tired of being careful with capsuled flawless gold. As pre-circulated coins you can handle them guilt free. also a very low premium which is the key.

Edited November 23, 2023 by Upsidedown

[SidS]

7 hours ago, Upsidedown said:

Its also nice to clank them together in your hands 🤤 im tired of being careful with capsuled flawless gold. As pre-circulated coins you can handle them guilt free. also a very low premium which is the key.

Welcome to the dark side... 😁

[Paul]

On 20/11/2023 at 19:05, jrb said:

Any advice for a new uk based stacker ?

Whatever your monthly budget for precious is, treble it and add a bit more on top for impulse buys and forum bargains