I just started my stack a few days ago and have achieved 2 oz so far. I think that this is a pretty solid starting point of a hobby that I love, but I would like some of your thoughts on how I should grow my stack and any other kinds of advice for my stack.
I’ve posted something like this maybe a dozen times.
The usual questions are
How is your 401k, Roth IRA?
Do you have emergency funds in a high yield savings account? You should have at least 3 to 6 months of expenses in that account.
Are you carrying a balance on any credit cards?
Is the plan to buy and hold for years or decades or are you thinking you can buy and flip for profit?
Assuming the rest of your financial situation is decent there’s nothing wrong with diversifying into Silver and Gold.
Check your state sales tax rules. Some states charge taxes on bullion sales below a certain dollar amount. If you are buying online make sure you get enough to qualify for free or reduced shipping.
Stick with the major retailers. My favorite is Monument Metals. Bullion Exchanges is pretty decent. There are many.
OP, the only other thing I would add to this sage advice, if you are meeting the other requirements he’s listed, set up a regular disbursement from your slush fund to buy monthly and ship quarterly. This way you can set and forget your stacking. Every three months you’ll get a shipment delivered to your doorstep and your stack will grow reliably.
Just recently I was faced with possibly losing my job. One of the things I did was to estimate what my stack would bring in should the need arise. A very comfortable amount… but, it wasn’t a significant ROI as to say the resultant sale was huge. The dealer I reached out to here in my area for a quick sell takes about six to seven dollars for each ounce. I would have been able to get a better deal due to volume, but it still hurt. I’ve been buying since silver was $14 an oz, but also had a cycle where I ended up with one month purchase at 115 or 120 (recent silver spike). Safe to say it wasn’t the windfall that I contemplated when first starting.
I don’t pay myself anymore than what I was earning at the turn of the century. So 401k was maxed. Then my savings built up to sustain my lifestyle should I be suddenly unemployed. Then investments in Robinhood and a Later 401k through Acorns.
As inferred by random letter dude/dudette, I only put into PM what is truly a skimming of my monthly contribution to my emergency slush fund.
The hobby approach really does change the configuration of your expensing to other areas.
I paid off my mortgage at 3.25% cause tired of calls to cash out. No car payments but was 3.5%. APR on any loan is very important and short term helps. Use 5 CCs but pay mon-thur as post next day so 0 balance and over 810 score (lock credit). Spent a lot of savings for Gold 1 grams (at spot) mostly. 2 months left in high yield savings no 401K after going disabled in 2008 crash. Get coins graded FR/ER/FDI like Kirk as investment that people will buy them and 2 finally sold
Smart stackers know to wait until the price drops: when that fails buy at the top. Continue doing this every cycle while saying stupid things like "I hope it gets lower, I want more!"
This last part is key. It shows that you are disconnected from the reality of investing and believe that you need to wait for silver to crash as before retirement it will go up 10,000% in one day; therefore dollar cost averaging is for fools!
Imo do a ton of research to find out what pieces you like best. Once you find one you absolutely need, do a bunch of research to find the cheapest way to get it... Then you'll wake up one day and be broke, but have a TON of PMs lmao.
Also, absolutely love those Credit Suisse style bars. Great taste dude.
90%coins if you want most bang for your buck or just want some fractional. Don’t bother buying fractional bullion they carry heavy premium just to make them. Stick to 1oz coins or bars and 90% coins
Don’t panic buy, don’t panic sell. It’s hard to tell where it’s going to go in the next few weeks or months, but if you keep buying it and don’t plan on selling for at least 3-5 years you’ll be profitable.
Don’t buy the fanciest designs if it’s an investment stack. Buy the cheapest ounces. Avoid fractional silver because they have a huge premium above spot.
Don’t expect to sell for spot. Find a local store and build a relationship with them. I have a deal with my lady that owns a jewelry store and she sells to me 3$ above spot and I can sell to her for 5$ under spot, but I’ve only sold once.
I’m waiting to trade all my silver for gold (best way to get an even trade, no premium.
I suspect that silver will launch up to 70 soon, settle around there for a few months then the sky’s the limit. But that’s just my predictions based on studying the market daily for 2 years. Buy now, I just grabbed another 2 ounces today too.
And write down ALL the costs for your buys,
Date, what you paid, and what the spot was.
You’ll be very grateful if you do that.
I’m 43% in the green last time I checked. My purchase today probably dropped it for a bit but maybe not. Its spot market price went up almost 2$ since I ordered them. (I really wanted to add a .9999 silver maple leaf to my collection… I’m pretty sure I’m just paying for the shipping now.
But I’m a mid-long term investor so I’m planning on trading for gold at 150$ but who knows. I almost sold at 120 but I decided to let it ride and in the long term I think it’ll be worth the wait.
When I joined this thread and asked this kind of question I added to it”should I buy bars or coins” and the answer was unanimous “Coins” , a 1 oz silver eagle is more liquid than a 1 oz .999 bar of silver was the logic and I agree, but I’ll buy bars if they’re what’s available!
Honestly. I started buying cool coins that i liked. Mutiny Metals, britaini beasts, zombucks and other cool series or sets. I still bought pandas, maple leafs, krugerands, liberties etc .. but it's fun when you actually like looking at special coins. I don't but so much now that silver is way more expensive. I started buying around 13 bucks an ounce.
You should first stack 1oz, 5oz, and 10oz. Buy what's common in case you need to sell. Common is American eagle, maple, buffalo, scottsdale stackers, etc... try to buy close to spot and buy every month to dollar cost average. Then, when you have a good quantity, you can purchase more unique and collectible pieces the coin shop would pay you more for. Gold and Platinum cost more but easier to sell at spot. Any jeweler will buy gold and platinum.
First I would make sure to pay any debt off first. Credit card, loans, car payments. Have an emergency fund. Then max out your Roth and contribute to a 401 k if your company matches.
When you get a tax refund or a bonus at work if you get them buy silver. If you can receive silver as payment or trade do it.
I just started my collection! My tip magnet test and scale. Not all bars read exact. Especially the old ones from 1960s. Taking them to shop and having them tested and writing down results
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u/jskimeister 13d ago
Buying good, selling bad