Can not overemphasize keeping quiet about owning silver. A friend had $30,000 of silver stolen. He thinks he knows who took it but, it’s gone. Probably worth at least double today. Don’t brag, just buy and secure it well, like in a big heavy safe.
Enjoy the silver as a hobby. One day, you might just want to cash it in, but with the price always going in the wrong direction (Want to buy? It's high. Want to sell? Price is falling.), Treat your investment as a hobby, don't overinvest and put lifes other luxuries out of reach.
And? I can get a 1/10 oz philharmonic for $230 in California in Oregon my friend pays $260. Thats more than I'd pay WITH tax here. The dealers figured that out first and since its lower here, peer to peer is lower too
That’s wonderful!!! I have a Son in the Navy and I buy kind of like you. I make sure he gets them and they go into a safe(I’m always bugging him to make sure their going into his safe. He’ll send a pic saying “Ok Dad, happy? Yes Son. Thank you”.).
You should have an episode on the specific youtubers who have created massive FOMO buying back in the spring; silver slayer is number 1 on that list! he's all quiiet now, but it was episode after episode of "silver resources are getting depleted y'all, just saying, just ask my buddy andy schectman!" and there's some other ones out there with the vid. thumbnails, "silver $2500!" it has to stop!
Avoid that guy like the plague. Wish now I would have earlier in my stacking Journey. I did not dca like I should have and I should have bought more AU.
@@sublimesounds147 I do. But since we're on the topic of fomo, yeah, they should call them out!, don't make this about me!, im not the one making money from ads to spread fear, I am an adult and I do watch all these stacking channels, thank you very much.
Good advice. I note that greedy CA *JUST* changed its requirement on taxing precious metals. It used to be you had to spend over $1500, and as you point out, it's now $2000. Personally, I think taxing any of these transactions is wrong. Imagine changing a dollar bill into four quarters and having to pay tax on the transaction. Also, as to the end strategy, anything I haven't had to use for barter or anything I don't give away as a gift, I plan to leave to my children.
You *have* to pay a fee to withdraw money unless you have an account, but then you already pay account fees. Essentially the "tax" is just baked into the exchange
I agree, we hear alot about picking up, dollar cost averaging, ect but no one focuses enough on exit strategy of stacking. Once you know why you're Collecting and stacking, it makes it easier for you to identify goals you want to achieve. Then understanding what you're exit strategy looks like
I kind of wish I had stuck to simple stacking and had not gotten into collecting as well. My collection is basically just whatever different designs of coins / rounds I could find. Even though I tried to buy them on sale as often as I could it's still just not generally as economical as bulk stacking. Especially when collected ones have an added expense of keeping them in capsules, then needing a way to store the capsules. The collecting is more for fun it doesn't really feel like an investment, and certainly would be the very last of my silver that I would be willing to sell if need be.
And always keep your hole punchers close to your stacks and make sure if you do tell "a trusted person" let them know you have those hole punchers and are willing to use them
A mistake I made was I didn't recognize that the mint on my 10 oz bars may be different. I wanted Indian Head and I got sent Eagles. I went back to the site I ordered from and saw that it said the mint may be random. Well, at least when it comes time to sell, I won't be attached to them as if I would have gotten the Indian Head Bars. So it probably paid off better, but make sure you get the mint that they are advertising. I believe it may have worked out better in my case though. I wouldn't want to let go of my Indian Head bars if that's what I would have gotten.
Kind of sad that point 3 is true. I don't disagree though! It is enjoyable to share with friends and family and try to get them into it. Even if I don't show everything I own or where I store it, its pretty easy to realize I have a stack when I open up to close people haha.
Dealers are just jacking up the premiums. You are not get anything stacking silver. The people usually making money are the dealers. Thats why they are saying silver is a great investment. All you guys are drinking the Kool-Aid. They are not giving you honest advice.
read the GAW rules (the fine print)! It states it pretty clearly. They give it away every January. Why should they do it more often? With DCA their cost on that is probably 12g's. Your gain could be 20g's. Hmmm speaking of tax it makes me wonder if that is income? gift taxes? gift tax exemptions etc?
You know whats the biggest stacking mistake people should avoid - Don't stack silver at all. Thats right. Stop stacking silver. Silver has been declining. It was $50 an ounce in 2011, it was hovering around $30 around 2015, now around $20 in 2023 and this is the long term behaviour of silver. Why would you continue pouring more and more money into something thats declining over the long term ?
Because silver is more of a industrial metal and not a pure monetary good. And these dealers are deluding people into stacking saying it's good that its used in more and more application. Just goes to show people can't think for themselves. The doomsday-er collapse mentality these people have also aren't healthy. If collapse does happen, because who cares if you have the wealth when everyone else is destroyed and desperate.
Because it's a much better bargain than overpriced gold. You obviously choose to ignore the massive manipulation of the silver market. Just because it's that way now doesn't mean that it will remain that way.
Louisiana was about to start taxing bullion again this year but luckily the politician pulled the bill. State is so broke& politicians don’t want to cut spending so they want to start taxing everything.
I sold MOST of my colectables! Its about WEIGHT for me!! Best priced silver I can get!! I have some gold to! ...... 6 years in now, done well but WAKE ME UP WHEN IT HITS JUST $40+!!!!!!
Are the 1 ounce silver 2018 marvel rounds worth getting? I just started collecting a month ago seriously and I bought the Thor coin. Is it worth building that set? Thank you for your time, knowledge and efforts getting us this valuable information
Hey ... I saw the Armenian Noah's Ark coin go by. I am doing baby dedications tomorrow and giving each parent a 23 Noah's Ark for each baby as a gift in an air-tite and stand.
Theologically. I'm ambivalent towards dedications. Love the idea of commitment to raising the child. But really think baptism should be for believers only. And I've seen some churches handle the dedication as baptism of sorts.
Fees are how card companies make some of their money especially if someone is only using a pre paid debit NOT a credit card (like me) there is no interest that the card company can charge because it isn't borrowed money so they have to make a profit with transaction fees... it's business so I understand why they charge them and cannot be mad at them for it they are running a business and are in business to make money. Another thing...for the reason of safety from theft and fire keep ALL your precious metals silver, gold etc stored in your neighborhood bank vault KEEP your entire collection there especially if you have no plan to sell it anytime soon anyway and are holding it as a preservation of wealth for the long term keep ALL your precious metals stored at your local bank.
What silver to buy depends on one’s reason to buy. I intend to make mine an inheritance to my much younger relatives. But also to have some savings in physical assets other than federal reserve notes. I won’t likely buy any comic book like pieces or Disney, Star Wars, or coins with current politicians images stamped on them.
Silverhasnt been a good investment in over a decade you pay a premium to buy it and a loss on spot price when you sell and when there are big dips in the market you can't buy it for the dip price as seen during covid. Why stack and secure lbs of silver when gold is much easier to deal with all the way around. Poor man's gold for a reason !!
I just paid the tax on line for silver, because when I drive over the line, their prices are to high o their silver, unless I drive further away, but then I have to pay high gas price. I do get my gold cheaper over the line, no tax.
Here is a big nono that he didn't mention, but he actually demonstrated in the video he did. DON'T BUY NUMISMATIC at the end of the day the only thing that matters are the oz. Not only is the premium on the numismatic not worth it, but because they are less recognised (less common) they can actually sell for less in a crisis, then a US eagle or Canadian Maple leaf. So stick to bullion COINS
Nice info. That Germania piece would make an excellent pendent on some fine leather. I'd say you missed one way to lose your silver. That would be traveling freely from state to state and being robbed by government funded thugs during a fabricated traffic stop. 👀 🍻 cheers
Can anyone tell me why they charge me tax at Bold Precious Metals and also Golden State Mint? I have bought from a bunch of other bullion sites and private mints and was never charged tax. My purchase was for generic bars and generic rounds.
Well, in my opinion, stacking and collecting is hard to separate. For me, I don't pay crazy premiums, but I will pay more for what I like, just like stamps, art, or anything else. Just be realistic, if has metal value, and maybe a little more, depending on demand.
@@limbuel A Dollar just isn't worth the same anymore. Of course, get the cheapest premium that you can, but don't get hung up on waiting for Dollar Premiums to return. I don't think it will happen again. Then again, you probably weren't being serious.
@@fin59shaw A ounce of Silver is not worth the same anymore either. Spot price and premiums are dropping and will continue too is what I believe. Am quite serious just wait be much better buying opportunities ahead. Are you a bullion dealer?
@@limbuel Well, we do disagree, no big deal. Nothing wrong with waiting, everyone should only buy when one is comfortable with a purchase. No, I am not a Bullion dealer, but there are a lot of great choices on the Internet.
The best advice I could give, no matter if you're stacking for weight or collecting, is to make sure you shop around! Dealers rarely have the same prices for the same item, different prices for quantities, rotating sales etc... also, some dealers offer discounts for veterans, military, first responders etc. For example, JM Bullion sells everything ar their "as low as" price. Provident metals (owned by JM) has like a 15% discount last I checked.
Good info thanks for sharing. As a new stacker is it better to but "junk" buy the roll or just try to pick it a piece or two at a time? Thanks again for your time passing on helpful information.
Any advice for UK stackers. Silver is a bit more expensive in the UK for some reason. For example today Britannia 2023 1 oz Silver Bullion Coin (King Charles III) is £30.43 for 1oz coin. Spot price is £17.86. = $38.63 vs spot $22.67 Also I have a couple bars on my boat in a safe they are pretty tarnished. any storage tips.
I've talked to a few stackers in the UK and around Europe. It's crazy the VAT they apply in some countries. I'm told that doesn't apply to gold in the UK so most of them just stick to fractional gold rather than silver.
I’ve only told a couple people, but immediately let them know about my lead stack as well. If your gonna have gold and silver, you better have the lead to back them up!
