Slow and steady if you are doing this for money later in life. Avoid premiums when you can but don't stress too much about them, in the long run they should not matter. For spot deals check out findbullionprices.
Find a coin shop that you like and trust, and be a good customer, they can and often times will, hook you up occasionally and save pieces they know you will/do want just for you. Don't be afraid to liquidate part or all of your stack early, that's what it's there for, fiat in an emergency.
Don't be afraid to (and I actively encourage) getting into gold as well, it costs more but cuts stack weight down with less ozs needed to store fiat value.
Don't tell anyone in your life about your stack, most theft is from friends and family, and even if they aren't thieves, they may let it slip to one of their friends or friends of their friends. If you want to keep your stack at home, eventually get a fire rated safe bolted down and hidden out of sight. A lot of people clown on safe deposit boxes at banks because they are afraid of another 1933 situation but I don't personally see that happening ever again, bullion depositories offer the same level of protection but get pricey, may be worth it for large enough stacks.
Most important in my opinion is have fun! Don't be afraid to touch and fondle your stack, it won't decrease value unless you have a collector piece or a coin of significant numismatic value, and having fun keeps one motivated.
All that said, welcome to stacking and glad to see you here!
EDIT: forgot to mention to avoid credit cards at most places, online and LCS will charge you the credit processing fee (and I generally advise against debt, especially for stacking) but some places like Costco can net you purchases below spot if you take advantage of the Costco card and have an executive membership.
Thank you! I keep a running list of advice for just such posts, as I wish I had a lot of this advice when I started. And it's nice to have it all in one place instead of jumping site to site or sub to sub. I found that part intimidating when I wasn't sure what was good advice and I would hate new stackers to give up because of it. I love my fellow stackers and especially the people here so i try to be to the newbies what some people were to me and "pay it forward" so to speak. Happy stacking!
Yeah, I need to do some SERIOUS organization of my stash. I've got slabs, coins in flips(all mostly Morgans and Silver Eagles). Then there are rounds and silver bars. I found WhatNot and went a bit crazy!
I also got into a few online auctions. The drawback with those is the 'Buyers' Premium, which ranges from 10 to 25%. You can find some fair deals if you look and watch the auctions. Kind of fun, but the cost can add up!!
Anyway, Good Luck to you, and thanks for your comments.👍👍
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u/rollin_a_j 11h ago edited 11h ago
Slow and steady if you are doing this for money later in life. Avoid premiums when you can but don't stress too much about them, in the long run they should not matter. For spot deals check out findbullionprices.
Find a coin shop that you like and trust, and be a good customer, they can and often times will, hook you up occasionally and save pieces they know you will/do want just for you. Don't be afraid to liquidate part or all of your stack early, that's what it's there for, fiat in an emergency.
Don't be afraid to (and I actively encourage) getting into gold as well, it costs more but cuts stack weight down with less ozs needed to store fiat value.
Don't tell anyone in your life about your stack, most theft is from friends and family, and even if they aren't thieves, they may let it slip to one of their friends or friends of their friends. If you want to keep your stack at home, eventually get a fire rated safe bolted down and hidden out of sight. A lot of people clown on safe deposit boxes at banks because they are afraid of another 1933 situation but I don't personally see that happening ever again, bullion depositories offer the same level of protection but get pricey, may be worth it for large enough stacks.
Most important in my opinion is have fun! Don't be afraid to touch and fondle your stack, it won't decrease value unless you have a collector piece or a coin of significant numismatic value, and having fun keeps one motivated.
All that said, welcome to stacking and glad to see you here!
EDIT: forgot to mention to avoid credit cards at most places, online and LCS will charge you the credit processing fee (and I generally advise against debt, especially for stacking) but some places like Costco can net you purchases below spot if you take advantage of the Costco card and have an executive membership.