My Gold Purchase Today: Fulfilling My Promise To Myself By Continuing To Stack As The Global Reset Approaches. Includes Some Tips For New Stackers

in #steemsilvergold7 years ago (edited)

Background


Two days ago I posted here a self assessment of my ongoing preparedness for a breakdown in global financial stability. I'd been motivated to do a self assessment based on my frustration with the financial progress I'd been making in recent times which I wrote about here. My conclusion was that I'd dropped the ball in recent months and had suffered from normalcy bias. Anyone suffering from something similar incidentally who wants a wake up slap in the face would be well served by watching the Dr. Dave Janda interview on Greg Hunter's USA Watchdog found here.

Anyway, earlier in the week I announced a commitment to re-establishing my efforts towards withdrawal from the banking system and into sound money assets. Today at lunch I took an extra few minutes to make another step in that direction. You see, recently I've been acquiring mostly silver given it's a steal but I don't want to give up on the yellow metal by any means and besides, it's much more efficient to store.

Today's step towards financial independence


I give you then pictures of today's purchases....

1-oz-goldcoin-PHILHARMONIC.jpg
Image & text credit

The Austrian Mint’s Gold Philharmonic 1oz gold coin is the globally recognised official gold bullion coin of Austria, and indeed synonymous with Europe as a whole. As legal tender, their weight and purity are guaranteed by the Austrian Government. The one-troy ounce size has a nominal face value of EUR100 and is guaranteed to contain one troy ounce of 99.99% pure gold (= 24 carat).

The gold coin depicts a harmonious assortment of musical instruments, including a string bass, cellos, violins, a bassoon, a harp and a Viennese horn, on its reverse. The obverse of the coin shows the great organ of the Musikverein concert hall in Vienna, the orchestra’s home.

1-oz-goldcoin-BUFFALO.jpg
Image & text credit

The American Buffalo is an official gold bullion coin of the United States. As legal tender, their weight and purity are guaranteed by the United States Government. It was first released by the United States Mint on December 22, 2005. It is struck only in the one-troy ounce size, which has a nominal face value of $50 and is guaranteed to contain one troy ounce of 99.99% pure gold (= 24 carat).

The American Buffalo Gold Coin's obverse and reverse designs feature images by noted American sculptor James Earle Fraser for America's five-cent coin. That popular coin, known as the "Indian Head," or "Buffalo Nickel," was introduced in 1913 and showcases the native beauty of the American West.

Reasons for these purchases


Well this is a topic all to itself. There are a few considerations here.

Divisibility


The smaller the items purchased, the easier it is to sell fractions of holdings as appropriate to the circumstances.

Price


This conflicts with the above point. The larger the item, the better the economy of scale. Best to aim for a mixture of the two. Some small pieces for liquidation and some bigger pieces as a core position. 1 Oz is a nice sweet spot.

Brand


This is a big one for me. I may know the various mints or refiners but others maybe not so much. I like to buy easily identifiable pieces for the best market if I should ever want to sell. These coins are well recognised.

Legal tender


This never used to bother me but I like it now. Very much. Not only is it an extra mechanism by which the piece provides value (it can legally be spent into circulation - practical difficulties born of the general ignorance of the public aside) in addition to the value derived from the metal itself. Additionally, it's a way to lessen the value of the piece when transporting. People have legally been able to not declare gold coins on customs declarations as they are able to quote face value rather than metal value. A significant understatement which can be enough to scrape under the typical USD10k declaration threshold.

FUN!


This way my may motivator today. One gets a little bored when accumulating the same types of pieces all the time so today I purchased these two at a premium simply to add an element of excitement to my purchase.

Where I'm going to store them


To be blunt, I'm not telling! I will provide some general information however on what I recommend

In your personal grasp


There's a lot of wisdom in the saying "if you don't hold it you don't own it" so I'd recommend keeping some precious metals in a hidden location that is accessible to you independently. By that I mean that you don't have to rely on anyone else for transport or access. This may be in or around your home (consider the issues of theft, fire and flood when selecting locations) which could be buried or located on a secondary property that you own. Diversify your hiding locations and don't forget where all your safe spots are.

Private vaulting


Private. Did I say private? Don't leave it in a bank safety deposit box. You may just as well leave it on a bus. A bank isn't going to open a vault for you to let you at your valuables during a banking crisis.

Bullion dealer storage


Some dealers take care of vaulting for you. I'd develop a relationship with the dealer before doing this. This may mean making a number of smaller purchases over some period of time first. Make sure the account is allocated and segregated.

International storage


Do what you'd do in your home country, but abroad. This mitigates some risks associated with domestic disturbance and local political issues at the cost of introducing others. The diversification factor is the motivation here.

Conclusion


There are many advantages to stacking. It's a fun hobby to collect beautiful and valuable pieces all while investing in arguably the only real persistent and stable value known throughout history. Posting about your acquisitions here can keep you accountable to yourself to maintain a steady dollar cost averaging program. There's usually enough in the way of gold and silver options to suit any budget which means it's not just a "rich man's game". This post just scratches the surface. There's heaps of valuable content under #steemsilvergold both here and on Discordia which I encourage people to dig into.

What's your next purchase going to be?

Happy stacking!

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Way to go, @nolnocluap! Nice pickups! Cryptos are nice, but there's nothing like the feeling of actually holding your purchase in your hand!

Couldn't agree more!

Really great post nolnocluap. Clear, smart, instructive, inspirational, well written, and just about as salt-of-the-fucking-earth as i can imagine.

Fucking eh! From Canada

✨✨🤘😎✨✨

resteemed

Ha! Comment of the year! Thanks for your support as always @thedamus

I've always wanted a 100 oz silver bar. Maybe I'll save up for one as my largest two investments so far have been a 1915 Austria Gold 4 Ducat (not an original but one minted recently) and a kilo Johnson Matthey kilo bar of silver.

I ordered a couple of coins today but they're more collector's items with intrinsic value.

Speaking of liquidating bank accounts...I've got one of three that I'm drawing down the balance into cryptos and hard assets until it's at zero then I'm closing it.

Happy stacking!

Great idea @cryptokeepr it feels good to vote with your money. Best of luck to you and for getting that 100 ouncer!

Definitely save up if you can! I did and got myself a 100 oz Perth Mint poured bar.
I can tell you there's nothing else like feeling the weight of that sucker!

G'day. Cool coins and good sensible general advice!

I've got this theory where I try to have roughly the same value of gold and silver. Of course that means you much more silver in volume and weight.

I guess it's all about each persons preference as to how they balance it out?

Yeah that's certainly one approach @plumey. I somewhat started out that way simply because it seemed "neat". Over time some of my larger purchases skewed the ratio to the point where I didn't bother following that rule any more. Gold's great as you say for wealth density. Silver can get bulky, but what a great problem to have! Another smart approach is the one Mike Maloney uses which is to watch the GSR and sell one to buy the other as the ratio swings up and down. You'd have to make sure you're making enough to cover the spread and to me that's active trading which I'm not that interested in any more. I'm more about stashing and forgetting. Well, more stashing than forgetting!

Thanks for your great comment.

Yep, we seem to be on the same page! Trading's not for me. Ride it out.
One day we'll be in the box seat!!

Or at least not locked out in the parking lot! Thanks heaps plumey 👍

Great post mate!

I'm going to have a look at those legal tender gold coins. The issue of having your metal investments totally illiquid stored away somewhere with no easy buyer is what gets me. This would at least make the investment a little more liquid.

I've accumulated a nice little predecimal Australian coin collection. Love Florins and Crowns because they're easy to know what you're getting and they actually mean something to me with the Aus history attached.

Do you have any of these in your stack?

What's your next purchase going to be?

@bulleth and I just split postage in one of these Steem silver rounds. Adds a bit of a premium but they were too cool to pass up having one.

I'm still keen to complete as much of my Aussie Florin collection as I can. I do miss scrounging eBay and Gumtree lots for cheap batches with the dates I'm missing but most of my investment/savings has been allocated to crypto lately.

There are certainly cheaper hobbies! :P

Wow I've not come across a predecimal enthusiast before! So you'd be talking the coins with the Georges on them (V & VI) and then QE2 from '53. Are you concerned about their numismatic value making them maybe harder to offload or is it the other way around given their identifiable nature. Don't have any myself.

Non investment bullion attracts GST too, criminally. What's important is there's a fun factor for you as I mentioned. That'll keep you engaged. I used to be into motor sports and car mods. Expensive hobby but I justified the cost as me enjoying life.

I saw the steem rounds. They look so awesome! What a great idea 😎 & thanks for the great reply!

Why stack when you can buy OTM call options on GLD and SLV?

(Tongue in cheek sarcasm)

The best part about about owning GLD and SLV is you and 100 of your best friends can all lay claim to the same ounce of metal!!!!

You really got me @apsistrading! As I read your reply, my mind was gearing up to write detailed explanations on derivative exposures and the metal ETFs in particular and then I read your sarcasm disclaimer 😂

Well played! 👍

I thought about leaving that disclaimer out... but then I realised that I might get a 1kg PAMP Suisse Silver bar thrown at my head by somebody in the stacking community.

😂 you can't do that with bitcoin!

Very nice pickups! Love them.

Yes out of the ordinary for me so quite exciting. Thanks @vegansilverstack!

Great post!

Thanks @imjoy!

👍👍👍👍👍

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