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Clueless Newbie


Craig17g

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I am new to the silver stacking world and addicted already. Just joined the forum having found out about it from BYB’s YouTube channel. Just looking for some guidance on storing silver. I was planning on just using Tupperware to store bullion which I see as investment based on the hope of the spot price of silver increasing, is this stupid? How do people store silver? I may also buy the odd premium coin that I would like to enjoy in a frame or display box, again is this stupid? I understand these question may seem ridiculous to some of you but I literally didn’t even know you could buy this stuff until 5 days ago. 

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I f you were to buy say 25 Brits in one hit you would receive them in a tube. Suppliers will normally pack individual coins in a plastic flip wallet or a coin capsule. You can purchase all of these if you need more. You can also buy coin books or albums, there are plenty of listings on ebay for this type of thing. If you want to avoid scratches it is not a good idea to put them in a Tupperware box without separating them.

Listings under coin storage ebay.

https://www.ebay.co.uk/sch/i.html?_from=R40&_trksid=p2380057.m570.l1313.TR8.TRC1.A0.H0.Xcoin+storage.TRS0&_nkw=coin+storage&_sacat=0

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"which I see as investment based on the hope of the spot price of silver increasing."

Don't do that, you will eventually be disappointed because silver is very volatile in its price fluctuations and valuing it against a currency is ludicrous. 

Instead look at it this way:

1. Buy precious metals (PM's) as a hedge against inflation

2. PM's are a storage of wealth.

3. PM's are an insurance policy against an unstable global economy.

4. PM's can be a savings account for a rainy day.

 

Since you are just starting out, keep it simple for now until you have a long term goal established. Stick to 10 ounce and 100 ounce bars with a recognizable name. Always buy with liquidity in mind. "Is this premium coin/bar etc.,  going to maintain its value if I sell it in the future?" Stick with what works. ASE's, Britannia's and standard bullion coins that you can buy as close to spot as possible. At the end of the day you should have a CPOA (cost per ounce average) that is as close to spot as possible. Watch the spot price daily and buy on the dips. The more you buy the better the deal you will get. Avoid impulse buying and have what you want to buy already in mind when silver dips. Not sure what your budget is but I would find some 10 ounce bars that you like and start with that. As far as the whole "displaying items"... I disagree with that. You want to fly under the radar when it comes to investing. Not "advertise to the world" I have this and that. If a thief looks through your window and see's valuables "on display" guess where he will be tonight???

 

Slow your roll and do more research on silver and gold. There is no big hurry to make your first purchase.

"I may also buy the odd premium coin"  The problem with premium coins is today you may pay $120.00 for one and when you get it its only one ounce of silver that is only worth $15.56. They are hard to pick. Even for a seasoned veteran we are very cautious as to which ones we buy. And its still a gamble as its impossible to know which ones will be a hit and which ones will be a dud...

 

Read this: https://www.jmbullion.com/investing-guide/

https://goldsilver.com/blog/top-10-reasons-to-buy-silver/

http://www.silvermonthly.com/silver-investing-guide/

 

Also remember: Silver is a LONG TERM INVESTMENT. Buy it, put it away and forget about it...

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16 minutes ago, STONE said:

"which I see as investment based on the hope of the spot price of silver increasing."

Don't do that, you will eventually be disappointed because silver is very volatile in its price fluctuations and valuing it against a currency is ludicrous. 

Instead look at it this way:

1. Buy precious metals (PM's) as a hedge against inflation

2. PM's are a storage of wealth.

3. PM's are an insurance policy against an unstable global economy.

4. PM's can be a savings account for a rainy day.

Great advice here. 

My take on it is very much as a wealth preservation tool.

If you are investing in weight price changes then gold is the metal for you. You will be paying about 18% premium over spot price for the cheapest silver via the EU mint and the forum group orders I run. Selling to a dealer, you will get spot price at very best or less. So your % gain on silver spot price has to be 20%+ to be even making your money back. 

Gold, you pay 2.5% or 3% over spot. When selling you get 98 - 99% from dealers and maybe 100% spot on forum quick sales, maybe spot +2% for slower forum sales. So you can easily see the spread is much less. 

But ultimately Precious metals (in my opinion) are not meant for this. If you want a commodity to invest in the numbers like this, do it online and via paper trades. If you want a tangible asset that you can use as a storage of wealth and a hedge against the value of your currency then PM's are for you. 

Next thing is about length of time of stacking - stack for 30+ years and you cannot go much wrong (again, my opinion - others may disagree). It is the preservation of wealth that is the key for this - think of gold and silver like investing in tiny houses. It preserves the buying power of your currency now for the future with the possibility of having some big growth due to unstable economies too. 

As to collectable coins - be very careful with them. I suggest you buy what you like and like what you buy - but never expect to make money on them. 9 out of 10 will be worth their metal weight in 10 years time - it is finding that 1 in 10 gem that is the tricky bit!

Welcome to the forum though! @Craig17g

Visit my website for all my Hand Poured Silver: http://backyardbullion.com

And check out my YouTube channel 

https://www.youtube.com/backyardbullion

 

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Thank you all for the great advice. I clearly have a lot to learn. I may not have explained my goals too clearly, I am not necessarily looking for a quick turnaround profit, I think as Backyard Bullion put it I see it as a “storage of wealth”, and a protection against the mad inflation that may be coming when the dollar collapses. That’s where I see me buying quantities of Britannia’s. However the natural collector in me may wish to buy the odd Queens Beast type coin which I would like to admire. I understand putting them on display may seem like a stupid thing to do but I own a few original paintings that I hang on my wall and admire on a daily basis. I sort of see it as a similar thing?

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12 minutes ago, Craig17g said:

Thank you all for the great advice. I clearly have a lot to learn. I may not have explained my goals too clearly, I am not necessarily looking for a quick turnaround profit, I think as Backyard Bullion put it I see it as a “storage of wealth”, and a protection against the mad inflation that may be coming when the dollar collapses. That’s where I see me buying quantities of Britannia’s. However the natural collector in me may wish to buy the odd Queens Beast type coin which I would like to admire. I understand putting them on display may seem like a stupid thing to do but I own a few original paintings that I hang on my wall and admire on a daily basis. I sort of see it as a similar thing?

Queens beasts are going to be good bets as bullion coins (unless you start backdating) they will be cheap as chips and hopefully appreciate well!

Only other thing to say is, don't rely on the dollar collapsing - it is (in my opinion) never going to be allowed to happen by the powers that be.

Visit my website for all my Hand Poured Silver: http://backyardbullion.com

And check out my YouTube channel 

https://www.youtube.com/backyardbullion

 

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Thanks BYB. Regardless of what happens to the global economy, gold and silver seem like a safe bet to me, and fun too. I’ve explained to my wife that from now on every gift I give her will be 999 silver - she seems ok with it ?

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I bought my missus  a 1oz krugerrand and a 1oz britannia 10/11 years ago, they are worth more now, I have mentioned this several times, the bottom line is she is NOT giving me these coins back to sell.........so just be careful how you term "give her silver" and whether or not you may be wanting/needing it back :)

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  • 3 weeks later...
On ‎29‎/‎07‎/‎2018 at 13:21, Craig17g said:

Thank you all for the great advice. I clearly have a lot to learn. I may not have explained my goals too clearly, I am not necessarily looking for a quick turnaround profit, I think as Backyard Bullion put it I see it as a “storage of wealth”, and a protection against the mad inflation that may be coming when the dollar collapses. That’s where I see me buying quantities of Britannia’s. However the natural collector in me may wish to buy the odd Queens Beast type coin which I would like to admire. I understand putting them on display may seem like a stupid thing to do but I own a few original paintings that I hang on my wall and admire on a daily basis. I sort of see it as a similar thing?

Here is a great site that has a mountain of information about PM's. Links are on the left side of the page. http://www.free-bullion-investment-guide.com/

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YouTube subscriptions I have subscribed to related to silver and gold

Silver Fortune   https://www.youtube.com/channel/UC_bZMqzqYA_1BHa0Sul5MBw

Backyard Bullion  https://www.youtube.com/channel/UCM_iarnIuvnwq8eMMGvWzOA

Shadow Stack   https://www.youtube.com/channel/UC_QOHEjp_uwmehxA7_YpV-A

Truth Never Told https://www.youtube.com/channel/UC-7vnmA1Zf1cRyqs9aR77ag

ITM Trading  https://www.youtube.com/channel/UCom1i7_NVeSUNyJyuR_NbMQ

The Money GPS   https://www.youtube.com/channel/UCngq92xrmmsfEgGdfAJ6giQ

World Alternative Media  https://www.youtube.com/channel/UCLdZo0Mkh_z2IQZSmD8Iy0Q

GoldSilver (w/ Mike Maloney) https://www.youtube.com/channel/UCThv5tYUVaG4ZPA3p6EXZbQ

iGold Advisor  https://www.youtube.com/channel/UCjG_4Kg7ZWWs8o7EnfnDc9Q

Everything read/video seen as long gold/silver can preserve purchasing power over next 10 to 20 years in relationship goods and services purchased now then I am happy.

 

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Welcome to the Silver Forum Coinster!!  Enjoy. I enjoy buying and selling Silver, I enjoy making Videos, I enjoy buying Gold to keep long term. The main reason for me is I Enjoy, I Love Coins Me !! I Do not take it too seriously, however this hobby/passion does take over your life at times.

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Welcome! I too am new here. I used to buy coins when I was younger and returned to it earlier this year with a focus on silver. For the investment side of it I think @STONE and @BackyardBullion are 100% right. I think it is dangerous to dump cash in to anything expecting a big sudden spike. As folks here have said it is good for preserving wealth. I really couldn't agree more with what has been said above.

As for your storage I would say do what you can to protect your coins that you are buying with any kind of premium. I mostly buy a mix of newer 1 - 2oz coins and older coins that have silver content. The older coins I don't mind storing as they are. The newer ones when they arrive in good condition I do everything I can to keep them in that condition. I do this to give myself every possible chance to get the premium I paid for back whenever the time comes to sell. I may not get that premium back but at least I am giving myself every chance by storing those coins as well as possible. I agree 100% with what BYB said about collectable coins. I regularly pick up coins on eBay that a few years ago sold direct from one mint or another for 3 or 4 times what I wind up paying. One of my recent purchases was a 2oz Royal Canadian Mint coin (5000 mintage) that they currently sell for $169.95CAD (~102.06 GBP) which I bought for the grand sum of £28. I am sure there are exceptions but a great deal of my collection is made up of these once collectable coins which I wind up buying for not much more than spot.

Storage on the grander scale will be kind of situational. That will come down to how big a collection you have and the potential risks of it being stolen (ie: I would be more on security living in a house share vs having my own property). I personally store my own collection in a tupperware style container. I don't deem my collection large enough to warrant the purchase of a good safe and I deem my risk level to be very low - I live in a very safe area in my own place where I work from home so am barely away. In the event that I am away my Rottweiler, German Shepherd and Rhodesian Ridgeback are probably a better deterrent than any safe. I also adopt common sense tactics like not telling anyone that I have a collection of silver on my property.

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