Stacking Silver | A Newbie's Journal | The Beginning
Stacking silver has been on my radar for a few years
On my old account on the previous platform, we shall not name :) I already had some interactions with people stacking silver. I enjoyed watching their new gems being shared and actually fell in love with those silver rounds all packed up nicely in a box to protect them from damage. Back then, I already found out that it wasn't as easy to find here as it was in (f.e.) the US. On top of that, we didn't have the funds to start collecting that either so it always remained something on my bucket list for the future.
I can now say that I feel it's time to start this new exciting journey stepping into the world of stacking Silver!!
Silver gold stackers community
Yesterday, I subscribed to the Silver gold stackers community and that was my first step of learning more about this fascinating world that I've had an interest in for about five years now. Yet, I could never join the actual fun and therefore I decided it was best to step away from reading the blogs about it as I could not join in on the fun anyway. But, here I am, it's never too late to join, is it? I read the rules in the community on how to become a member, and I shall start by engaging in the community as it's also a great way to learn more about the world of stacking silver. I don't know if I can find the answers I'm looking for regarding the best ways to find silver here in Hungary, but I can at least find other valuable tips and things to take into account when buying certain silver pieces. I'm a total noob at this point, so I will most likely learn a lot from the community members.
People are looking for other ways to save up for the future
I think today more than ever, people that used to save up fiat only until now, are getting more interested in other ways of securing funds for their future. Until I joined the blockchain, I never even considered stacking silver, but I do admit that I was fascinated by the first blog I read about stacking silver. These coins can be a true piece of art and I'm hoping to collect quite a bunch of beauties in the future. Not only to collect something to be proud of, but also to secure some funds for the future in another way than fiat or crypto. I'm honestly doing the same, even though I would have preferred that I could have started this journey a few years ago. I'm happy that at least I can find information and tips on Hive in the dedicated community.
It's hard finding the right info if you don't speak the local language
This is the story of my life while living in Hungary, of course, we have the translate option in google and I'm using that quite often. But we all know that for detailed searches it's hard using keywords that are translated. Yesterday I did another attempt though, and at least I discovered that one of the market websites where people can offer their goods for sale has some coins on it to buy or that are on auction. I thought it would be easiest to start here, find a coin that I truly want to have, and buy it. The only thing that I should take into account is probably that it's not one of these coins that are a lot more expensive than they are valued in their weight. But that's all thoughts coming from a total noob, so if this is the wrong approach to start my journey, feel free to leave tips in the comments!
Any tip coming from personal experience is highly appreciated!
Questions I mostly have
How do you decide on which coins you are interested in? Is this based purely on their appearance because you love the design? Or is this also based on the price?
Is there any rule to determine if a coin is overpriced if you compare the silver price/weight of the coin compared to the asking/bidding price?
I'm going to make rooky mistakes probably, and that's fine, but hey, if I can get some advice from the experts here, just to get me started and avoid buying the wrong first one, that's obviously better.
If you like to share your first purchase when you started your journey, I'd love to see it! Feel free to leave a comment.
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Welcome to #silvergoldstackers!
Do not be afraid to make mistakes, because you find that you will seldom do!
Buy and stack what you like!
But like buying anything, you've got to shop around for the best price!
After a while you'll know what you really like!
As for me, and because I live in the U.S., I stack American Silver Eagles.
They are a bit expensive now-a-days. I also buy U.S. Constitutional silver. And a bit of gold.
That forms the core if my stack!
Hey @silversaver888 thank you so much for the comment!
I truly appreciate it!
So there are no common rules or anything like "you should not pay more than X % above the value in its weight?"
I feel like a kid in a candy store looking at all these coins but I guess I will just pick my first one and buy it soon :)
Thank you!
Well, if you really like the coin so much then it is worth it!!!
Buyer's remorse are for those people who buy a coin due the hype created around the coin.
And you buy the coin just because someone told you to buy it, or maybe because everybody is buying it when you don't really like the coin! And then you set it aside, and the hype is gone... and you wonder why you bought it in the first place!
But for starters, be reasonable!!! Buy the good old reliable like the American Silver Eagles, the Britania, the Maples, the Krugerrand. Maybe it is not for you. But you would know once you've held it and gotten used to it and know their history. Maybe you are one who go for numismatic coins... who knows!!!
Thanks for that advice :) I appreciate you taking the time to give me your 2 cents :) (haha)
I currently live in Hungary, and due to language barrier its harder finding the spots where I can buy them. Yesterday I've been browsing on one site and today I decided to pull the trigger on one of them. For now, I will just go with those that I like, and slowly learn more about everything.
I could not even follow a hype if I wanted to, as I'm looking at the things being offered here and language that I can only understand when Google translates it haha. Never been the hype follower, so will not do that with these coins either probably.
But I really feel excited learning more about silver stacking as well as the hunt for coins and buying them. Been wanting to do so for several years now, so glad I'm now able to :)
Looks like an interesting community. I just subscribed. Thank you!
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Welcome!
I just purchased my first silver coin :)
Felt so inspired by the community's posts sharing their gems..
I guess I'll see you there!
Dear @thisismylife,
Do you mind supporting the HiveBuzz proposal for 2022 so our team can continue its work next year?
You can do it on Peakd, ecency, Hive.blog or using HiveSigner.
https://peakd.com/me/proposals/199
We wish you a Happy New Year!
Of course!
Thanks for the reminder that I needed to actually press support on the proposals I've read in the past as well..
I discovered that I didn't do so thanks to your question :)
Taken care of, and have a happy new year!
Thank you for your support @thisismylife, much appreciated! 👍
One major aspect is preserving a major portion wealth savings through the failure of the current fiat currency system, my core savings. It is entirely of Canadian Maple Leafs since I live in Canada, It is legal tender, quality and fineness backed by the Royal Canadian mint, and I or my children can borrow against it easily through any Canadian Financial institution without giving up ownership. This is also meant to be passed on to my descendants as generational wealth.
On the other side of the spectrum, old silver coinage. Or constitutional coinage in US terms, are ideal for the Prepping part of the Stack. Upon system failure there will be a good chance it would be disorderly with Fiat cash basically worthless for a period before the new system kicks in. No point spending a 1 oz silver coin when an old silver dime can buy a needed loaf of bread or two.
And there are other aspects and purposes for different bullion types. I love the fun part of Theme Collecting.
Regards @thisismylife, and Welcome to #silvergoldstackers
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Thank you for your explanation about your silver stacking experience. It's really good to read people's reasons and read some more info about the why and how making me want to dig into some history as well.
I appreciate you taking the time to leave a comment and I will follow your stacking journey!
Thanks for the warm welcome!
And not to forget: Happy New Year!
You're Welcome.
Being in Hungary you may consider Austrian Philharmonics as a starting point since they have legal tender status. We have a few members that know their way around the European market.
I still buy 25 Maple Leafs each year but that is routine and boring, so that's where I get into the more exciting Numismatics and history. The Extra cost I consider as the FUN Premium.
Happy New Year to you as well.🎉
I looked them up (the images for now) and they actually look quite nice as well. I will defo search for these in the next weeks, thank you for the tip!
I will see what my thing will be in the future. I've already seen quite a few very cool ones, but I will first wait until my first silver coin purchase arrives next week and then set a goal to buy at least one each month, or maybe 2 a month, depending on the price. I can't wait to learn more about this world, to be honest, and I'm curious to see what my "guilty pleasure purchases" will be.
It's very nice to see the members in this community are willing to help and give some tips as these things seem very normal to you maybe but are of great value to me. Thanks again!
See you in 2022! :)
I observed that collecting precious coins that follow a certain theme (for example The History of Gold or Silver) tends to be more pricey than others.
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Sounds legit. Yesterday I was browsing on Ebay, as here in Hungary, I yet have to discover the places where I can buy it besides the one website I found. On ebay I found so many beauties, like actual art pieces. But yeah, sometimes double the price of the value in weight (Or more). My boyfriend told me I should just buy those that I truly love as they look so awesome. I think aiming for a healthy mix of nice looking ones that aren't too much more expensive than their value in weight and some pieces of art (more expensive) is going to be what I'm aiming for eventually.