#Gold #silver #preciousmetals
Hindsight is a wonderful thing and my 7 years buying gold and silver has given me a lot of interesting experience to draw upon. The problem with investing in gold and silver right now is that the market is very daunting. So much choice. So today I share what I would do if I had nothing right now and what my best picks would be for gold or silver or both. Of course, these are just my opinions and not financial advice so please bare that in mind when making your own decisions!
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30 Comments
with the cost of living how it is right now, id be surpised if people still had big budgets for Gold/Silver. I'm struggling to stop myself from buying ATM, but im staying strong as I know I cant really afford much right now.
High premium gold may never pay since the high cost when converted to the current day's money will always be too high. If gold makes a huge increase due to inflation, then the effective cost will be hugely increased as well.
I get 50 Pesos for the same price per ounce as an AGE or Buffalo. So I buy them whenever I can. My favorite gold coin. It's an inspired design.
As an American buyer we are limited and sovereigns aren't our cup of tea.
Makes perfect sense to me. Look for the lowest premium coins. There is a term some use in the U.S. KISS
KEEP IT SIMPLE STUPID! A new stacker should keep it that way.
It's definitely tough to balance what is and isn't a 'good deal'. Even without the high premiums, I feel like many times I am buying metals knowing that I could not turn around and sell it back for the same price. If I take it to an LCS I will likely take a hit on the premiums and if I sell it for a bit more on EBAY, then there is 15% fees as well as shipping to deal with – not to mention the higher risk. I am pretty new to metals and I am realizing more and more that it is definitely more of a 'savings' and a long term investment.
I would probably not start right now with the economy as is right now but I can see why sovereign bullion would be the way to go. I feel what you say at the end, 🤕
Where would the fun be if you didn't follow your heart with some of the purchases and what knowlege would you have missing if you didn't make a mistake. Sovereigns are good to stack, had i just bought sovereigns over all these years i would prob be doing much better than i am financially with the value of the stack, but it would be at the cost of the hobby as a whole.
I would advise a new stacker to make their first coin/bar a nice peice of gold, save up and get the sovereign before buying a cheaper silver coin, then but a coin to protect your first peice of gold, then buy another coin to protect the coin that protects your gold, then but a coin to protect the coin that protects the coin protecting the gold (i could go on, hmm i might) then buy a coin to protect the coin protecting the coin that is protecting the coin protecting the coin that protects the gold, then… you have a stack my friend.
So what about constitutional silver in the states do I pay Capital gains tax on it
Hi, thank you so much for making posting this video. I bought my first coins (1oz gold Britannia's) 2 yrs ago. And earlier this year I bought some silver 1oz Britannia's. I still consider myself a newbie. Watching your vids is helpful and interesting. I agree with your that buying gold at present is better, and especially due to it being CGT exempt (bullion coins and bars). I plan to buy some more gold as an instrument, when I can – most probably some Sovereigns. I too like the older Sovereigns but the 2022 Elizabeth II sovereign is beautiful and the momorial sovereign – but unfortunately the bullion coin for both is hard to get now. I hesitate to buy coins from eBay, but if the prices are better compared to the Royal Mint or BullionByPost, for example, then that could be a good reason to consider eBay. When buying fractionals, if you can afford to, would you always buy more than 1 at a time?
Great vid. Some good insight for a beginner. I just dont know what is a good price for a SOV etc so am still wary of hitting the market. I realise date and mintage makes a bit difference but dont want to be ripped off.
That circular holder for the 1/10 ounce gold bars looks cool. Where would I get one?
The videos claiming that "This is about to happen to Gold and Silver". Which was first written in Latin
Recently online dealers had 1oz Silver Britannia’s on sale. Since I just started stacking a few months ago with gold being my main goal I decided to pick up a few tubes. I did get sucked in and picked up a 1 Kilo Silver Britannia and I have no regrets! Probably won’t get anymore silver and will focus on gold stacking.
Being new I’m excited and want to buy everything. Being in the USA my head has won and eagles are not worth it to me. I stack only Britannia for now. Due to premiums I wait and get 1oz. If premiums come down I’d love to get 1/2 and 1/4 oz too.
That was a nice way to spend a little time. Thank you Mr Backyard.
Beautifully done.
I'm a new stacker (only since October) and after my research so far, my opinion is basically the exact opposite of this. I'm exclusively stacking silver. Majority of my stack is generic silver rounds, mostly buffalos or whatever is cheaper. Just for the sake of collection I've bought a couple maple leafs, britannias, australian kangaroos but I don't expect to receive any premium for them when I go to sell. My long-term goal is to stack as many oz of silver as I can, then convert it all to gold when the silver-gold ratio is closer to 30:1. I'm prepared to wait a decade or two for that. When I get into gold I don't want any fractionals, only 1 oz. I'm in Canada so VAT is not an issue. I've stacked 40 1-oz silver coins so far, now I'll probably start stacking 5 or 10 oz bars for slightly lower premiums.
Negate the risk, if that's the kind of thing that keeps you up at night, by buying sovereign mint bullion. Yes, the premiums suck. EVERYTHING has premiums now. The premium on sovereign mint bullion usually offers built-in security features and the best possible liquidity down the road. Do your research, but always look several years into the future with a view to some emergency need to liquidate at the best possible value.
Great video.
A good portion of my gold has come from local estate auctions, most reputable auction houses sell gold and silver in their general weekly sales, and it pays to check their catalogues, the other week I was fortunate enough to win a 1/2oz gold philharmonic for $900AUD plus 16.5% commission making the final cost a shade under $1050AUD (Approximately £600), it doesn’t happen all the time but on occasions you can grab yourself a really good bargain there.
What you buy should be region dependent 1) taxes may be different in different regions and between gold/ silver bars/coins/rounds 2) what is easily liquid will be different in each region: buying local helps eagles in USA , sovereign/Britannia's in the UK etc. Buying any silver or buying bars probably won't give you the best returns in the UK
For a newbie I'd stay away from eBay etc and stick to a reputable dealer as gold is expensive and so people like to counterfeit them
I liked the last few minutes… I thought you said in a previous video that you didn't like sovereigns… 🤔 but you'd think the R.M would take note of buyers and at least put a tiny bit of silver instead of copper in the mix to restore the historical colour of sovereigns .. I mean the tiniest fraction of silver added to the small amount of copper in these coins wouldn't cost anything really! and they'd probably make it back with the added sales …
I guess , when it comes to the R.M … you may as well be talking to a brick wall …. sadly …
Stop telling the dull-ard"s what's a good buy. It's hard enough finding good sov's at the moment! (Hehe)👍
Just love reading some of the posts and there content, you make me smile. How’s Mrs. Backyard just thought I would ask as behind every stacker there’s a mine. Lol.
Sounds like a clueless bi*ch
Great video! if by personally I perfer 24k gold. Is it the Britannia 1oz & 1/4oz is the best way to stack in UK? Thank you
As a newbie hoping to take the plunge soon, where would you buy from? I am leaning towards Goldcore uk ! any other suggestions ? will not want to sell what I buy anytime soon! thinking of brittanias.
Couldn’t agree more with the bonus ramble.
Your channel is refreshing. I too am annoyed by all the click bait BS, silver at (insert absurdly unrealistic price here) coming soon, attempts to manipulate and scare unwitting viewers and perhaps even more annoyed by reading the comments of those videos to see that it seems to be working.
If I didn't have silver or gold I would look for another precious metal that does well and is affordable thankfully there's a lot of choices when it comes to precious metals so you don't have to rely on a few
Ramble on, amigo! 🤙🏻