Best General Tips for Stacking

[lmwstamps]

Having watched a few youtube videos over the past week, I've come away with one conclusion.  There are a lot of people making a lot of "factual" assertions on how to stack and what to stack based on their purpose for stacking and predictions about silver in the future.  For example, I heard quite a few people make the assertion that the foundation of a stack should be the bullion coin of the country they live in (if one is produced).  They cite a few of reasons for this, 1) it's more recognizable, 2) it's less likely to be counterfeited because it's "government issued", 3) it's easier to sell/barter with, and so on and so forth.  The basis for their statements seem to be rooted in the belief of SHTF environments.  Another example I've seen quite often is a rank ordering of best places to buy silver, more often than not with online dealers ranked first followed by local shops followed by eBay, etc.  The reality of my stacking experience contradicts the factual assertions such as the ones above.  I have encountered a few good generalized tips, but wished that their would be more general tips that could help all stackers with their goals regardless of their purpose in stacking.  Here are some of the better ones I have heard.  Feel free to add or dismiss any of them:

1) Before you purchase anything, learn the basic terminology of collecting/stacking and have a general idea of factors which may affect them (ie. spot price, physical vs. paper PM, premiums, bullion,           numismatic coins, etc)

2) Understand your reason and motivation for stacking before you make any substantial purchases

3) Find an experienced stacker/collector that has a similar reason, motivation, and purpose for stacking and learn from them

4) The silver market tends to be location specific.  Understand what options you have available to you, both for buying and selling.  Understand the factors which affect your options (ie. VAT, online                 sales, legal restrictions, etc)

5) Before you buy, have an idea of the outcome of the purchase, whether keeping it forever, or disposing of it at some point in the future.  If it's the later, as best as possible, think through the best means       you have for disposing of the item and how desirable your purchase will be to the eventual buyer.

6) If you are selling, know the value of what you have.  If you are selling in person, no matter how much you may need to make the sale, don't come across as desperate.

7) It's your collection/stack, based on your beliefs and motivations, using your resources, so do what you feel you need to do, not what anyone else thinks you need to do

😎 You will make mistakes, hopefully the aren't too big of a setback, learn from them and try not to repeat them

 

[vanderPoot]

I've made 3 orders and pretty sure I nailed #8

[Lowlow]

Some that spring to mind ...

• Consider how you'll sell before you buy
• Understand the difference between numismatic / collectable value and bullion value
• Understand physical vs. spot price and how market movement affects premiums
• Honestly consider your financial situation and need for cash before investing in precious metals
• Pay attention to your transaction costs (shipping, broker/dealer premiums, taxes, etc)
• Know thyself

[Coolsmp]

Shipping costs quickly add up over the months. Consider saving up over several months and then make a bulk buy rather than monthly this will cut down on postage especially from mainland europe.

[Bullionbilly]

Dont let your heart rule your head.

Where possible store orders to cut back post.

Buy from TRUSTED people.

Dont tell every man and his dog you have PM'S.

Dont be scared to ask a seamingly stupid question.

 

 

 

[LoveSilver]

Here is an article of buying and holding a silver, why, how, where to hold it. Also, there is an article about silver finally becoming a money. If that is where the world is going every piece of silver will worth way more than what we are paying today. 

[lmwstamps]

On 01/12/2018 at 08:22, LoveSilver said:

Here is an article of buying and holding a silver, why, how, where to hold it. Also, there is an article about silver finally becoming a money. If that is where the world is going every piece of silver will worth way more than what we are paying today. 

The article on buying and holding silver is a good example of the initial purpose of this thread.  While I agree with many of the premises and statements made concerning silver itself, the author makes quite a few definitive statements on taking action on those premises.  Things such as where to buy, where not to buy, what to buy, the size and shape of purchases, and where to sell are not standard for every stacker, they are stylistic and situational decisions based on the comfort level of the stacker.  When they are presented as a list of do's and dont's to be followed, they can really have some adverse consequences to a new stacker, both in financial loss and opportunity loss.  These type of things should be presented as options with pros and cons instead of as definitive statements of do's and dont's.  I routinely buy things he says not to buy from locations he says not to buy from and usually do not buy the things he says need to be bought.  As an aside, I found it ironic that he wrote that one shouldn't buy from eBay, but they should look to eBay when they sell because of the higher prices that can be obtained.

[STONE]

Here's an entire website devoted to investing in precious metals. There is a mountain of information here:   https://www.free-bullion-investment-guide.com/

[LoveSilver]

 Imwstamps, in regards to buying stuff at eBay. Take a look at this piece. This is a fake gold bar, Chinese production. Cobalt in the middle, gold shell outside. They are quite good with that. In some opinions, there is about 50% of a fake god bar and coins sold on eBay. They probably don't have interest to do the same for silver since it costs so much less. Sellers are Chinese or their proxies. 

[Silviam]

I think that when you start buying silver, it's good to have a good mix of coins and bars in varying weights and dates so you have an idea of what you're purchasing. No good if you're wondering why a 1994 Panda costs a lot more than a 2018 Brittania for example, so have a good mix in your stack and then you will begin a preference

[lmwstamps]

15 hours ago, LoveSilver said:

 Imwstamps, in regards to buying stuff at eBay. Take a look at this piece. This is a fake gold bar, Chinese production. Cobalt in the middle, gold shell outside. They are quite good with that. In some opinions, there is about 50% of a fake god bar and coins sold on eBay. They probably don't have interest to do the same for silver since it costs so much less. Sellers are Chinese or their proxies. 

I'm well aware that there are fakes on eBay, both in gold and in silver, but to suggest that just because there are can be fakes the solution is to not use eBay is a bit silly.  After all, the story came out last year that RCM had sold a jeweler a fkae gold bar (https://www.cbc.ca/news/canada/ottawa/fake-gold-wafer-rbc-canadian-mint-1.4368801).  It doesn't appear that anyone ever called for boycotting RCM products because of this.  There are fakes in many places, eBay, RCM, car boot sales, coin shows, and yes, even some on line dealers.  A better response to the presence of fakes everywhere is knowledge.  Learn what is being faked and learn how to determine if something is fake.  For online, learn the red flags that indicate a potential problem and steer clear of that item.  You just mentioned one, PM's sold from China?  No thanks!  On line vendors, eBay included, have very good buyer protection mechanisms.  As for the opinion that 50% of the gold bars and coins on eBay are fake, that's just preposterous.  You can even debunk that yourself.  Go to ebay, type "silver" (or "gold" if that is your preference), navigate to the Bullion category and go through the listings. There's just no way that 1 out of every 2 listings is fake.  There are many sources for PM's, none of which you should blindly assume that there is no chance of purchasing fakes.  Each source has it's own pros and cons, learn those, instruct new stackers on the pros and cons, and let them make a decision whether they want to use that source or not.  

[JB3]

I bought a 'Scottsdale' 10-ounce bar a number of years ago, early on in my stacking, from EBay… because I was naive.

 

Some time later, I got a rare earth magnet and found out this bar was fake.

 

Two mistakes: buying from a seller I couldn't locate and buying before I had a way of knowing real from not-real.

[Coolsmp]

The best way to learn is through our mistakes. When i first started i bought silver from a uk dealer without realising you could buy it from Europe vat free.

[Bluenitsuj]

7 minutes ago, Coolsmp said:

The best way to learn is through our mistakes. When i first started i bought silver from a uk dealer without realising you could buy it from Europe vat free.

Don't the delivery charges cancel out any savings from VAT? 

[Coolsmp]

8 minutes ago, Bluenitsuj said:

Don't the delivery charges cancel out any savings from VAT? 

No, its still generally cheaper to buy from Europe especially if you buy in bulk. Ive probably saved around £700 so far in not paying VAT.

[harrygill111]

45 minutes ago, Coolsmp said:

No, its still generally cheaper to buy from Europe especially if you buy in bulk. Ive probably saved around £700 so far in not paying VAT.

VAT benefits might vanish soon (brexit) so it's a good time to stack weight now. Try goldsilver.be and Europeanmint.com - I've used both, both are great. 

[harrygill111]

I've decided to move away from stacking weight in bars and bullion and instead focus on small quantitiy, high quality numismatics's. Except making the odd exception for series' like the Queen's beast which I love.

I want to focus on the UK and CGT free as this seems like a market I can get some experience and expertise with, and benefit from the tax allowance. 

Could someone please help me with which reference books would be best? I've seen SPINK, and Marsh for Sovereigns, among others but looking for the best all rounder. 

Any pointers appreciated.

[Coolsmp]

[5huggy]

having acquaintances with access to one of these does help massively

 

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Added 0 minutes later...

DO NOT RUSH OUT TO BUY ONE - they are £9k plus

[harrygill111]

31 minutes ago, Coolsmp said:

Does this have pictures of the coins in it? 

[5huggy]

21 hours ago, Bluenitsuj said:

whoops wrong quote  - - these have piccys 

Spinks as you mention is good along with 

 

they do also pre decimal as well as decimal to date! 

ALL always sit on my desk for quick access!

[Coolsmp]

6 minutes ago, harrygill111 said:

Does this have pictures of the coins in it? 

No pics.. its a small technical manual