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sweetjeep
07-29-2011, 04:08 PM
Hey folks,

I am a COMPLETELY new to the game newbie. I'm looking for some good resources to get me going here.

I've searching around and haven't really found a decent source of information that I could really properly trust and unfortunately as full of good information as a board like this is, there is a lot of reading to get through to find 1 or 2 good sentences in a 30 page thread.

So I am sort of looking to see if anyone can help guide me to a reasonable resource or direction.

Here is the full extent of my metals investment as yet:

(2) Gold Eagles
(30) Silver Eagles
(10) Silver Maples.

That's it. That's what I have as yet. No bars (should I get them?) no other "random" coins. Just for the initial buy in I was looking to get the safest bet I could and this seemed like a decent start and a reasonable buy in at about $5k.

Any thoughts here? Guidelines? Resources?

Thanks all!

t00nces2
07-29-2011, 04:15 PM
Welcome to the game. The first thing would be to know what your goals for stacking are. Are you stacking as a hedge? Are you stacking to isolate your 401K? Are you stacking to invest slowly? SHTF scenario?

StephenHawkinsVoiceBox
07-29-2011, 04:17 PM
Congrats. You've already got more PM's than 99.9% of the worlds population.
;)

sweetjeep
07-29-2011, 04:22 PM
A little bit for everything you listed.

My dad has a story: Back in the early 80s his work would give a 1oz gold coin ever quarter or so as a little bonus. My dad had a huge stack (maybe 10 - 20 he thinks, maybe as much as 30). Gold crashes whenever it was and he sees the stack.. "screw it" he says and sold them. He tells me this story for a reason kids. ;)

So I am trying to listen to good advice and hedge my bets (for the long term) and also have sort of a fun way to spend spare investment $. My wife and I are quite good about the standard 401k and retirement, but we are fortunate enough to have a fair amount of discretionary money. It's generally just cash "sitting around". I kind of figure if I am going to have this much sitting around why not spend it on something interesting and fun and that might make a little more money than a pathetic .05% my savings acct is currently netting me.

It's a long term thing, it's a short term thing (if I want a car in 1 year where do I get the down payment, maybe here).

Make sense?

sweetjeep
07-29-2011, 04:23 PM
Congrats. You've already got more PM's than 99.9% of the worlds population.
;)

PMs? Help me here! I haven't figured that one out yet.

sweetjeep
07-29-2011, 04:24 PM
PM = precious metals? Duh.. palm to face..

Need more sugar to finish the day. ;)

silverfire
07-29-2011, 04:28 PM
PM = precious metals? Duh.. palm to face..

Need more sugar to finish the day. ;)

Personally, If I had your stash, I would trade the gold eagles for 80-82 ounces of silver.

avalkyrie
07-29-2011, 04:28 PM
Here ya go, sweetjeep, a link to abbreviations commonly used in the forum:

https://www.kitcomm.com/showthread.php?t=41420

Welcome aboard!

sweetjeep
07-29-2011, 04:32 PM
Personally, If I had your stash, I would trade the gold eagles for 80-82 ounces of silver.


They looked pretty in the pictures. I am a little disappointed in real life. ;)

VicThrust
07-29-2011, 04:39 PM
Just remember. The Fed is paying low interest rates to try and force your money into the stock market or real estate for a better return.

Under no circumstances do they want you to trade your dollars for PMs. It undermines their rigged system and they cannot inflate away your wealth that way.

I have been stacking since 2001 (gold) and went all in with silver in 2005.

In the last ten years my mutual funds returned nothing.

Thank God for PMs.

avalkyrie
07-29-2011, 04:39 PM
They looked pretty in the pictures. I am a little disappointed in real life. ;)

I recently bought some GAEs (gold american eagles) myself. I was underwhelmed. A truly gorgeous gold coin is the Buffalo. By far, my favorite. I even like my Krugs better than the GAEs (that is probably heresy on this board!).

silverfire
07-29-2011, 04:40 PM
They looked pretty in the pictures. I am a little disappointed in real life. ;)

Well, I'm not actually referring to aesthetics, but overall investment strategy. I'm in the camp that thinks that it's wise to accumulate 1,000 oz of silver, before purchasing gold. Silver will most likely outperform gold 3:1 over the mid-term.

galtbob
07-29-2011, 04:51 PM
Welcome.

I guess I am in a chatty mood. You can look up all these subjects for more info:

Have a plan. My plan is to keep PMs at 20% of my net worth right now. But I may increase it as events develop. Within PMs, I want 60% gold and 40% silver by value. My plan for selling is to die befere I need to sell it. Because if I need it, that is very bad for all of us. But if the USA collapses, I will be trading my PMs for fiat as needed. My plan is also to have equal amounts of silver and ammo by weight. I hope I don't need the ammo either.

The core of my stack is in recognized govt-issued bullion, mostly ASEs, ATBs, and Maples. I never buy bars or generic rounds (except for a few novelty pieces I plan to give away as gifts). But I also have a small selection of coins that I think could develop special value as collectibles. A box of Koalas, a roll of Grizzlies, a dozen 5 oz Takus, a roll of current year Pandas, etc. . If I am right, then in a year or two I will be selling them at well above spot prices to buy more cheap bullion. If wrong, no harm done. I do NOT buy graded coins or collectibles. I try to have price discipline, and only buy stuff that is close to spot price. I buy 90% silver or sterling coins only when I can get them at a 15% discount to current prices.

For a good overview of gold & silver, get this book: http://www.amazon.com/Rich-Dads-Advisors-Investing-Financial/dp/0446510998

Don'tt sweat out every price move. Get your stack in place and relax. If you can't relax, your stack is the wrong size or you have a bad plan. Physical metals is a long term investment. It is INSURANCE. Treat it the same way.

Fusion
07-29-2011, 05:08 PM
First of all, welcome! Get a tin foil hat first. Then start hitting all the bullion websites if you don't have a LCS. Compare, and track their premiums for the coins or bars you're interested in.
- Create a budget - how much per week or month in fiat you can allocate and stick to it.
- You've made some good purchases so far but always watch the premiums.
- Don't buy the slabbed 69's or 70's because in reality most of the stuff that comes from the mint is there anyway.
- some people like the 90% but the only 90% I go for is the Morgans
- stay away from the bay if you can, it's rare you'll find a deal and it's mostly a waste unless you're looking for a specific coin (I had to find a 2006 year of the dog and got it from the bay)
- get some 1oz bars and generic rounds, notable (Engelhard, JM, Buffalo etc...)
- have an exit strategy and a plan.
We were all new here sometime and it doesn't cost you anything to ask a question. Galtbob did a poll yesterday about what percent of posts are useless. I found that poll itself as useless because it was derogatory towards others trying to discover information. I've found some good tips here but you'll soon figure out who to listen to and why.

- lastly, Go to the Gold forum and read QuadG then go to his profile and find his blog. Lots of good information there.

You're off to a good start!


Welcome and


Hey folks,

I am a COMPLETELY new to the game newbie. I'm looking for some good resources to get me going here.

I've searching around and haven't really found a decent source of information that I could really properly trust and unfortunately as full of good information as a board like this is, there is a lot of reading to get through to find 1 or 2 good sentences in a 30 page thread.

So I am sort of looking to see if anyone can help guide me to a reasonable resource or direction.

Here is the full extent of my metals investment as yet:

(2) Gold Eagles
(30) Silver Eagles
(10) Silver Maples.

That's it. That's what I have as yet. No bars (should I get them?) no other "random" coins. Just for the initial buy in I was looking to get the safest bet I could and this seemed like a decent start and a reasonable buy in at about $5k.

Any thoughts here? Guidelines? Resources?

Thanks all!

bottle collector
07-29-2011, 05:32 PM
I recently bought some GAEs (gold american eagles) myself. I was underwhelmed. A truly gorgeous gold coin is the Buffalo. By far, my favorite. I even like my Krugs better than the GAEs (that is probably heresy on this board!).

Gotta agree. My gold is all in the form of Double Eagles (Liberty and St. Gaudens) and Buffalo's. Not a single AGE in the lot. I am eyeing a 50 Peso Mexican coin though.

Hang Time
07-29-2011, 06:30 PM
Good information here. Different perspectives based on differing circumstances. Some have a lot to be diversified and some just want to protect their small nest. The one thing I think is important for the small nester is to have a quarter, half or full bag ($1000) face value 90% silver coins. This gives you a fractional currancy to use if it does get really ugly. The rest of your investment is about preservation of purchasing power. For myself, we are basically all in, except for some cash on hand. It is perhaps radical but there is a chance that all digital assets could disappear. A lot of hacking going on out there. I just love the line "stay low and keep moving".:D

coindog
07-29-2011, 07:26 PM
get as much info as you can from other sources. use all the financial news and learn to sift thru it. PMs are just a part of the whole picture. the big money that moves markets and sets direction is not here. good start to your stack. for what it's worth I like generic bars, more bang for your buck, but I have ASE also. same with gold.

theplantguy
07-29-2011, 09:23 PM
You should be very cautious about taking anyone's advice. If you're going to be in silver, you should be you own expert and analyst in silver. You might consider studying the history of silver (The History of Gold and Silver by Lawrence H. White). How it has behaved in boom and busts, war and peace. What it's relationship is and how it reacts to social, political and economic trends and events. Being that silver is a commodity, study the commodity market and understand what it is and how it works. A book like International Commodity Trading: Physical and Derivative Markets by Ephraim Clark, Jean-Baptiste Lesourd, Réné Thiéblemont might be a place to start. See what the relationship of silver is to the broader commodity market, currencies, and all the markets as a whole. Take the time to learn to read charts and use analytical tools. Knowledge is golden and helps to keep you from being blown around by every wind of change. You would also recognize hype and misinformation when you see it. It will also keep you from seeing silver in isolation.

Ten bears
07-29-2011, 09:30 PM
I recently bought some GAEs (gold american eagles) myself. I was underwhelmed. A truly gorgeous gold coin is the Buffalo. By far, my favorite. I even like my Krugs better than the GAEs (that is probably heresy on this board!).
The buffalo is also my favorite. Then the maple, and American eagle next.

TB

midasmike
07-29-2011, 09:30 PM
nice to see you back PG

theplantguy
07-29-2011, 09:31 PM
nice to see you back PG

Thanks............I needed a break back to reality.............:)

SilverBill
07-29-2011, 09:42 PM
nice to see you back PG

Dittos. I had feared we had lost him.

BooBoo1000
07-30-2011, 01:54 AM
Good information here. Different perspectives based on differing circumstances. Some have a lot to be diversified and some just want to protect their small nest. The one thing I think is important for the small nester is to have a quarter, half or full bag ($1000) face value 90% silver coins. This gives you a fractional currancy to use if it does get really ugly. The rest of your investment is about preservation of purchasing power. For myself, we are basically all in, except for some cash on hand. It is perhaps radical but there is a chance that all digital assets could disappear. A lot of hacking going on out there. I just love the line "stay low and keep moving".:D

HEY Hang time, I agree with you but I question your advice on the $1,000 bas of bullion. The last time I checked that size bag was in the neighborhoods of
$30,000. I know it would be nice to two or three of those lying around, but I think most stackers will do like I do and but the $100.00 bags at $ 3,000.00

Greenback
07-30-2011, 07:03 AM
You should be very cautious about taking anyone's advice. If you're going to be in silver, you should be you own expert and analyst in silver. You might consider studying the history of silver (The History of Gold and Silver by Lawrence H. White). How it has behaved in boom and busts, war and peace. What it's relationship is and how it reacts to social, political and economic trends and events. Being that silver is a commodity, study the commodity market and understand what it is and how it works. A book like International Commodity Trading: Physical and Derivative Markets by Ephraim Clark, Jean-Baptiste Lesourd, Réné Thiéblemont might be a place to start. See what the relationship of silver is to the broader commodity market, currencies, and all the markets as a whole. Take the time to learn to read charts and use analytical tools. Knowledge is golden and helps to keep you from being blown around by every wind of change. You would also recognize hype and misinformation when you see it. It will also keep you from seeing silver in isolation.

The History of Gold and Silver by Lawrence H. White is over 500 dollars on Amazon, is the book really rare PG?

theplantguy
07-30-2011, 07:16 AM
The History of Gold and Silver by Lawrence H. White is over 500 dollars on Amazon, is the book really rare PG?

I found my copy for under $40 on ebay. Just keep an eye out.

galtbob
07-30-2011, 09:50 AM
I found my copy for under $40 on ebay. Just keep an eye out.

I will give you an ASE for yours.

Palmbchtom
07-30-2011, 10:10 AM
welcome Sweet Jeep.... It's good to see a post by new people. The advice I've found in here over the years has been super.! When I wasn't sure of a coin, or bullion , price, etc ..someone in here had the answer... (or views that I didn't think of). I often wonder how many other people read these post, and still not posting...That's ok, but I have no idea if it's 1000, 10,000 or over 100,000 people that visit here..
As for what gold to buy, I watch what the boys in Wash DC are doing...to cut spending for real or flood dollars into the system to make the dollar weaker... then i hunt for the best price gold out there..In some ways, don't miss a buy if the price is only $10 or $20 diff.... always remember your paying it with Cabbage now.. (cabbage = FRN's backed by nothing) ...as long as the seller still takes the FRN's ..your good.:)
Best of Luck on your hunt.

SilverBill
07-30-2011, 10:13 AM
Thanks............I needed a break back to reality.............:)

Does that explain your absence or your return? :D

PG, would you also recommend the 3.5 hr documentary The Money Masters posted on youtube?

theplantguy
07-30-2011, 10:15 AM
Does that explain your absence or your return? :D

PG, would you also recommend the 3.5 hr documentary The Money Masters posted on youtube?

It was the reason I didn't post for a while.

I haven't watched it.

SilverBill
07-30-2011, 10:32 AM
I haven't watched it.

The movie documents the history of money creation and its control/manipulation since BC times. The who's, the why's, the how's. I'm quite sure you already know the lessons, I wondered if IYHO it was worthy of recommendation.

GG113
07-30-2011, 10:57 AM
SJeep,

I was 'new' about 4 months ago. Here's what I have learned:

1) staying away from premiums on the 'graded coins' advice..SPOT ON.

2) Budget your stack....SOPT ON. Slow and steady, buy on the dips, learn the flow of the metals markets.

3) I sell stuff on Ebay, stuff that I have no use for anymore and stuff that will have no value in a financial collapse to support my silver buying. I've converted a great portion of a stamp collection, 40 years in the making, into silver.

4) Buy a 'boat'. Honetly, the #1 rule about stacking is do not divulge the details of your stack to anyone but your spouse. Somebody might tell somebody else about your 'collection' and then you get robbed/burgled. So, the solution is to 'lose' your stack in a boating accident.

5) Buy a safe. Know how to hide the safe and how to bolt down the safe.

6) Most of my stack is in generic one ounce silver rounds, .999% Fine Silver. Nice, easy to handle and identify and the one ounce size makes it perfect to 'exchange' for stuff.

7) In the end, it will be the size/amount of your stack that will count. Coins, while having a great look and ease to identify, carry a hefty permium. Buy those on the dipps (I loved them when silver was at $33 and I could get them for $35-$37)

Best Wishes

hpw12
07-30-2011, 11:02 AM
Surprised no one has commented on his 401k:D

skoby
07-30-2011, 12:54 PM
Just for the initial buy in I was looking to get the safest bet I could and this seemed like a decent start and a reasonable buy in at about $5k.

Any thoughts here? Guidelines? Resources?

Thanks all!

1) Decide on what you think is a good percent of each gold/silver. Online dealers suggest somewhere around 70% gold to 30% silver.

2) Buy something you'll be able to sell down the road. ASE's have a higher premium but are more recognizable than some others. Some one ounce bars are nice too, slightly less premium.

You could purchase appr 2 ounces of gold and 40 ounces of silver for $5,000. "Safer" may be a higher percentage of gold. That's about as simple as you can get. There are too many variables and your own personal issues for anyone here to give you advice.

Most important
DYODD= Do Your Own Due Diligence (common disclaimer when giving buy/sell/invest advice and tips, used to tell you to do your homework/research and blame no one for the decisions you make).

HardlyPeeved
07-30-2011, 01:46 PM
These are simple books that have their opinions, but these cover the recent topics:
Crash Proof 2.0, Peter Schiff, John Downes
The Collapse of the Dollar and How to Profit from It, James Turk, John Rubino

People I follow and see what they are thinking or writing:
Dr. Marc Faber
Dr. Ron Paul (and Rand)
Peter Schiff
Max Keiser
Stephen Roach
Ambrose Evans-Prichard

Generally on the subject of economics in these days, versus the other theories:
Austrian School http://en.wikipedia.org/wiki/Austrian_economics
Ludwig Von Mises Institute http:///mises.org

yergi
07-30-2011, 07:40 PM
1. Don't get caught up with the collector's items. Painted coins, gimmicks, etc.
I mean, it's cool if you like that stuff, but that's collecting, not stacking.

2. Cost average. Set aside a chunk of change each month, and before you realize it, you should have a sizeable stack.

Mind of Oz
07-31-2011, 12:30 AM
your also going to need some input and encouragement so as the poster who recommended Peter Schiff and some others here are some more.
go to "you tube" and type in Mike Maloney,,and Bob Chapman.
And also,,NEVER TELL ANYONE HOW MUCH YOU HAVE~!
We are in a time that when this thing explodes you can open yourself up to being robbed or worse. So Shhhhhhhhh only you and your wife should know.
Good luck, Mind of Oz

Dixiecrat
07-31-2011, 01:53 AM
At this present time because of the economy with 5k I would buy 90% gold 10% silver. Hey folks,

I am a COMPLETELY new to the game newbie. I'm looking for some good resources to get me going here.

I've searching around and haven't really found a decent source of information that I could really properly trust and unfortunately as full of good information as a board like this is, there is a lot of reading to get through to find 1 or 2 good sentences in a 30 page thread.

So I am sort of looking to see if anyone can help guide me to a reasonable resource or direction.

Here is the full extent of my metals investment as yet:

(2) Gold Eagles
(30) Silver Eagles
(10) Silver Maples.

That's it. That's what I have as yet. No bars (should I get them?) no other "random" coins. Just for the initial buy in I was looking to get the safest bet I could and this seemed like a decent start and a reasonable buy in at about $5k.

Any thoughts here? Guidelines? Resources?

Thanks all!

Dixiecrat
07-31-2011, 01:55 AM
X2 Thank youyour also going to need some input and encouragement so as the poster who recommended Peter Schiff and some others here are some more.
go to "you tube" and type in Mike Maloney,,and Bob Chapman.
And also,,NEVER TELL ANYONE HOW MUCH YOU HAVE~!
We are in a time that when this thing explodes you can open yourself up to being robbed or worse. So Shhhhhhhhh only you and your wife should know.
Good luck, Mind of Oz

Palmbchtom
07-31-2011, 07:51 AM
I sure hope the translation is correct, and not a post that reads 1 from column A and one from column B :D

hope no bad feelings from the joke, i spend time over in asia.... and joking aside...they will own us someday from all the hard work and smarts. I never underestimate their power.... ;)

sweetjeep
08-01-2011, 10:44 PM
Awesome. Thanks for all the advice. I'll see if I can itemize replies a little.

Galtbob: If I amass as much PM in weight as I have ammo, my house might cave in. I am a not avid enough shooter but I often buy ammo as an excuse to check out a store "oh, babe, I need *make something up that involves me getting to go in and play with guns*". If the world crashes around us, I have zero concerns about my having (or not) enough firepower to deter folks. ;)

Regardless, advice read!

Fusion: Advice read! I looked at ebay for reference a fair bit and nothing smelled right. Fortunately I happen to have a bullion dealer near my office who has shockingly reasonable rates and prices, at least compared to most of the large online place.

GG (and others): Understood on the graded stuff. And I agree. I am not interested in that at the moment. I don't know enough as yet, not worth it. I generally understand the value of keeping quiet and locking things up. As mentioned I have safe(s) in the house for the guns and paperwork and what not. Though I felt, in this case, telling folks my starter was a better choice to show whether or not I was using my right brain to make decisions or not. My primary safe weighs in at 300 lbs and my secondaries are invisible. ;)

In general thanks to everyone so far!


So my next question is: I still am a little tentative on the bars. It looks like if I were to buy a 10 oz bar vs 10 Liberties I'd save about $25. The bar appears to be an NTR casting. From poking around they appear to be respected. Or at least commonly sold. ;) $25 is of consequence, but is it worth being tied to a larger volume? Is it going to be any more difficult to sell a bar if/when I decide to do so? Assuming I don't go to "the regular" place? Say I hit a respectable coin shop, are they likely to balk?

seascape195
08-01-2011, 11:46 PM
So my next question is: I still am a little tentative on the bars. It looks like if I were to buy a 10 oz bar vs 10 Liberties I'd save about $25. The bar appears to be an NTR casting. From poking around they appear to be respected. Or at least commonly sold. ;) $25 is of consequence, but is it worth being tied to a larger volume? Is it going to be any more difficult to sell a bar if/when I decide to do so? Assuming I don't go to "the regular" place? Say I hit a respectable coin shop, are they likely to balk?

I would be shocked if anyone blinked twice at buying a NTR 10oz bar. 100oz or more of any brand start to be a little harder to sell because it starts to get into higher disposable income buyers. 1 to 10oz bars sell like hot cakes in my experience.

yergi
08-01-2011, 11:47 PM
Awesome. Thanks for all the advice. I'll see if I can itemize replies a little.

Is it going to be any more difficult to sell a bar if/when I decide to do so? Assuming I don't go to "the regular" place? Say I hit a respectable coin shop, are they likely to balk?

10 oz silver bars are pretty liquid. You shouldn't normally have a problem moving them.

Fusion
08-02-2011, 12:18 AM
Goldmart has the NTR 10oz bar at $0.99 over spot right now =$404.77
JM and Engelhard just a wee bit more. I bought 2 JM's last week (duh) could have saved that $25 you mentioned. But I stuck to my plan, buy some before Aug 2 and hopefully a lot in mid Aug.
If you find a lower premium let me know bc I'm still thinking on it.

galtbob
08-02-2011, 05:21 AM
So my next question is: I still am a little tentative on the bars. It looks like if I were to buy a 10 oz bar vs 10 Liberties I'd save about $25. The bar appears to be an NTR casting. From poking around they appear to be respected. Or at least commonly sold. ;) $25 is of consequence, but is it worth being tied to a larger volume? Is it going to be any more difficult to sell a bar if/when I decide to do so? Assuming I don't go to "the regular" place? Say I hit a respectable coin shop, are they likely to balk?

Buy yourself a couple of ten oz bars and a couple of equal stacks of ASE's or Maples (or your local coin of choice). Then go to a few local dealers and offer to sell them. Compare buy price and sell price and you wil have most of your answer. And then ask them which they will be more likely to buy in a weak markets. That $25 might look like a smart investment. But you do not live where I do.

sweetjeep
08-02-2011, 01:24 PM
So realistically there is no need to fear a bar. Fair enough! My lack of knowledge, thus far, has kept me strictly sticking to what I know already.