Precious Metals - A Beginners Quick Guide to Stacking
Gold and silver have been around for as long as we can remember, they are one type of commodity which is pure value bringing wealth into the hands of everyone and creating a fair market.
I've been looking at history of precious metals due to the volatility of fiat currencies and here are my tips on stacking precious metals.
The things you need straight from the beginning are:
Gold Price App on your smartphone, here's the website http://goldprice.org
This is an invaluable tool in checking the updated gold or silver price and you can use the drop down menu to change your language settings, there’s also an option to use oz., g, kg.
Use this to determine the price and once you've worked out the price per grams go online to the main bullion dealers in my locality to check the retail price of the precious metal, do this 5 competitors to get an average price.
Once you've done this if the type of precious metal you are wishing to buy is a bar the best place is to go onto EBay, there you will be able to see feedback of sellers by genuine buyers (if in doubt move to another seller) As there are so many sellers on EBay all trying to make money it won't be long before you find a seller willing to give you a lower price, I've made some good deals on EBay and still use some of my dealers today.
If you are interested in purchasing silver and gold coins then 2017 Spink Standard Catalogue of British Coins Pre Decimal and Decimal is a must for you as it will provide information on all pre decimal and decimal coins of England with grading prices.
Don't make the mistake of going on EBay and just because the price of a coin is low buying it, in the end all you will end up with is worthless bit of metal. My advice on the coins would be to always go for sovereigns, quarter sovereigns, half sovereigns and guineas half guineas. You cannot go wrong with these coins as they are highly collectible and hold value. Make sure to check whether you are buy bullion coins (old coins) or ones with grading value.
If your finances are a little stretched I'd say start off with a 1 gram gold bar and gradually build up your metals, the valcambi 1 gram bar is widely available on EBay and is part of a combi pack so you can buy any quantity.
Check the daily price of gold and silver and start stacking today. Hope my info helps you.
Great article !
thank you
Well written but I don't think there are many gold stackers here lol. Gold is like the opposite of crypto currencies in terms of storing value. Also gold is really not that scarce at all, there's lots of it. Bitcoin for example is really scarce because there will be only a limited amount mined. That said, I like gold though. Just because it's shiny lol.
You are absolutely right, there is alot of gold and silver around and limited crypto currency. I thought it would be a good article for anyone who wanted some basic information on precious metals as I believe its better to have your hand in a few pots of honey to cover all eventualities and yes I love gold because its shiny also : ).