Advice For Beginner Silver Stackers

1) Buy from a Reputable Dealer. When you’re first starting out , you’re gonna want to buy from a reputable dealer. In the beginning you don’t know what your doing really and you might not able to spot the best deals. Now, I personally would suggest the big bullion dealers like SD Bullion  , APMEX  , JM bullion and there are a few others. You might have a local shop that’s good, but remember you’re much more likely, in my opinion, to not get as good as deal. And it makes sense , Local shops have more overhead when compared to the bigger dealers. And over time, you can check out other dealers for savings and find out who is reputable.

(2) Understand premiums and what you should be paying. Now silver is valued at the spot price, which is the current value in the market. The premium is going to be the value over spot you pay. It’s determined by a number of things , like supply and demand, whether you buy coins or rounds and the brand. So, as demand increases expect your silver price premium to increase. If you sell with demand high, its definetly possible to get over spot. Buying rounds or bars will affect premiums as well. Typically rounds have higher premiums than rounds because they cost more to manufacture. We can expect the premium percentage on a 100 oz bar to be lower than a 1oz coin. Now brand can matter as well , as generics have the lowest premiums.

(3) To collect a variety of silver. And what I mean by this is to get an assortment of bars and coins, and not all from the same brand and not all the same size. Some people collect all the same thing and that’s fine but I prefer to keep my bars big- either 100oz or 10, and my coins small 1 oz or less. I really buy more of the smaller coins with gold since the price is so high. 

(4) Don’t fret about the everyday price. This isn’t crypto or penny stocks. Now, I tend to save and make a big purchase to get lower premiums but I also believe that dollar cost averaging and buying a little every couple weeks or month can be a good strategy. Remember precious metals should retain their value for the most part and in the long run appreciate. It’s not guaranteed but history is on this side.