Did you know that many people can't afford a $1,000 emergency without using credit, and most don't even have $500 in savings according to a recent survey in January 2024? The fact that you are considering adding silver and/or gold, or are have already started, means that you are ahead of most folks in terms of having an emergency fund in case of an unexpected expense, a savings account free from govt eyes and tax, and wealth preservation and legacy for your loved ones.
The average person doesn't own a single ounce of silver therefore, as you are reading this, I bet you are already "above average" in more ways than one. Most people who own precious metals are the great unknown. They don't talk about it. They don't advertise it. They keep it to themselves as they should. Only your spouse and maybe your children should know of your "stack". As such, there are usually not a lot of people to talk with about precious metals therefore how can you tell that you are on the right track along your stacking journey?
If you have done or are doing the below six things, than you are a better stacker than you realize...
1) You have one tube of sovereign bullion coins
One of the first things I typically recommend to anyone starting out is to add bullion from your own country. For examples these would be "Maples" from the Royal Canadian Mint, "Eagles" from the U.S. Mint, "Philharmonics" from the Austrian Mint, etc. Bullion coins are recognized, trusted and thus very liquid should you need/want to sell or use in a trade/barter situation. Having a filled tube is an accomplishment in that you have 20 or 25 bullion coins in case you ever need them. If you have a tube of bullion sovereign coins from your country, you're a better stacker than you think.
2) You have found lower premium silver
On your stacking journey, as you browse local coin stores and online, you've likely come across other types of silver which are priced a little less than bullion. These are typically generic silver rounds, constitutional/circulation silver, and/or silver bars which often come with a lower price. These are produced from a variety of reputable private mints (e.g. Sunshine Minting, Scottsdale Mint, Asahi, Silvertowne, etc.) and come in many different designs. When you add more silver for less per ounce, you may start to see you "stack" grow more quickly. Some stackers have the goal of paying the least per ounce and generic silver is one of the best ways to achieve this. If you have some generic silver, you're a better stacker than you think.
3) You compete with yourself and not others
You are adding silver and gold for your own reasons be it financial privacy, inflation hedge, wealth preservation and building. You aren't doing it based on anyone else's goals or what they buy or how much. You are doing it because you want to and you have a goal. You may enjoy collecting different designs, or finding the cheapest silver possible, or have a preference of bars over coins, or maybe its collectibles. Whatever your reasons, they are just that - your reasons. You'll be satisfied in knowing that you have a goal and are making a disciplined effort on a regular basis towards achieving it which can be a very fulfilling and satisfying experience. If you are stacking precious metals for your own reasons and have a goal, you're a better stacker than you think.
4) You have both silver and some gold
You are trading in some of your toilet paper fiat dollars for silver and now you want to add some of the other shiny metal - gold. Adding some gold can not only be a great way to diversify your stack but also add more inflation protection and wealth preservation. Plus, you'll save on space as gold takes up less space than silver. With gold around $3,170 an ounce lately, some think owning gold is out their financial reach. Remember that it is also available in fractional sizes such as 1/2 ounce, 1/4 ounce, 1/10 ounce, 2.5 grams, etc. So, owning any amount of gold is better than not having any at all. If you own any gold, even a 1/10 oz coin, you're a better stacker than you think.
5) You buy when the price falls
FOMO, the fear of missing out, is one of the worst foibles of humans. It's illogical. Too many people get excited about something, let's say gold, when its price is going up and they run to the coin shop to buy in all of the hype. When the price falls, this excitement wanes as news coverage dips and the FOMO dies off. How illogical we can be at times. I'm in precious metals for the long term and along the way there will be ups and downs in the short-term. I see these dips as buying opportunities to add more weight for less. If you find that you are adding precious metals when the prices are down, you are a waaaay better stacker than you realize.
6) You finished something that you started.
Think back to when you first even considered precious metals. Maybe your parents bought you a Canadian "Maple" silver coin, or you saw some videos on Youtube about different silver coins and bars. You may have dug a little to research whether these largely unknown, obscure pieces of metal may be a good choice for you. You may have jumped in, maybe a little hesitant, and bought your own first tube of silver or fractional gold coin. Look at your know. You have likely added many ounces but more importantly have added financial peace of mind, choice and independence. If you decided to add these for yourself and loved-ones, you're a better stacker than you think.
👉 You're invited to learn more about the benefits of owning physical precious metals by downloading my free e-book, "Why & How To Own Your FirstOunce(s) Of Precious Metals." FREE DOWNLOAD.
Geo-political and economic events such as persistent (and likely more) inflation, the growing interest of BRICS, de-dollarization, central banks buying up gold in record amounts, massive government debt, China and India precious metals purchases, CBDCs, etc., all create change and instability - more good reasons to own God's money of physical gold and silver for financial independence, privacy and wealth preservation.
댓글