This is the first silver I ever bought, from a few weeks ago. I don't actually have much and am not planning on building a large stack, but it's good to have some for a hedge.
These are pretty simple buys. Just silver bars. They are the cheapest in that they are not even a dollar over spot price.
I like these little pieces of the Earth. It's nice to see how shiny they are. It was hard to even get the picture without the camera being caught in the reflection on the coins. That's how mirror-like their finish is. I have a desire to keep handling them with my bare hands because I like the feel of them, but I know that the oils on my hands aren't good for preserving this fine appearance. I understand people normally handle their coins with cotton gloves!
Though I like these bars, after I got them I decided I'd really like something with more the shape and feel of a coin, so then I ordered these rounds. They're called rounds, not coins, because they aren't legal tender. They come from a private mint, not a government issuing them as legal tender.
Rounds, Bars, Coins
Some people say that it's better to get actual coins with a face value issued by some government (particularly one's own government). There's a lot of debate about whether they have to be accepted as legal tender and whether the customs declaration (if traveling abroad with them) is at face value or the value of the metal.
I know that you can definitely use the coins issued by the US government to pay US federal taxes. What evaluation of how much you are credited for is unclear. Does the IRS use the face value or the value of the metal at that day's spot price when payment is made?
Anyway, I have no plans of giving the government my silver, so it's an academic question to me. And if I was traveling so that I could go to live abroad, I would probably just sell my stash of these simple, easily replaced rounds and bars here, then take the money/crypto and just buy anew once I reached my destination. The price isn't as volatile as say crypto, where by the time I get off the plane I could be seeing a 10% increase!
Fancy Stuff
I did order a few more coins that are part of a series called Rwandan Wildlife. I'll be probably receiving those next week. With those premium coins I'm definitely paying for the extra craftsmanship. Instead of $1 above spot price, I'm paying more like $3 above spot for each one. But I only buy one of each design at a time. So it still doesn't add up to much.
For all the coins I bought, the extra for getting a one of a kind series is maybe the equivalent of an extra lunch out at a diner. But all my coins together are maybe just a dinner in a fine restaurant. I find it worth it to get something I'll love whether I keep it forever or someday sell it for the security it provides during hyperinflation.
Next week when the Rwandan coins arrive I'll show them to you and we can see if you agree that it's worth paying the extra just to have something unique while they're held. That's knowing that when you go to sell them, unless you're selling to a collector and what you bought is rare and sought after by then, you're probably only going to get the spot price of the metal even for the premium coins.
Hope you enjoyed this little "beginner's introduction to silver stacking." LOL. I'm certainly no expert, but it is a fun little hobby that also provides an important hedge in one's portfolio.
Congrats on first purchase. Just posted content on precious metals yesterday. SURVIVING THE IMPENDING MELTDOWN. The value of precious metals may be more valuable than you think! Take a look @thebigsweed
Cool, I'll take a look.
Nice silver pieces, congrats 🤗 . a hobby that could be very lucrative.
That's exactly how I'm thinking of it. Right now, just fun. More fun than grabbing lunch in a cafe/diner when I could just cook at home, for example, which is about the cost of each coin. But in the long run, could really be a life saver.
They certainly look very pretty, and I have come across a number of people's posts about silver and gold here on Steemit. I can see how it could become a somewhat addictive hobby, thanks to some of the quite beautiful designs people are creating.
Bright Blessings!
Yes, the beauty of each piece is really a draw. But also the history of how these metals have been a part of so many of the worlds cultures for so many thousands of years. There's just something about becoming a part of that, even holding it in your hands, that just feels really satisfying.
I suggest the next time you have a spare $15-20 you've decided to spend on entertainment (order pizza, go to a movie, etc.) you indulge in this new way instead. Even just one coin will be something you can get hours of enjoyment out of over the years. And unlike those other things, it is also likely to go up in value over those years too!
The pieces look great! I have always bought some precious metals once a year since my daughter was born as a hedge. As I have seen prices lag despite clear signs of trouble ahead regarding the value of our assets, I have been thinking of stacking a little more purposely. The great thing is that there is surely a large community here on STEEM which I will definitely always read for tips! Thanks for sharing!
Yeah, I love that there's a big silver community on here. Glad you've been stacking for your daughter (or inspired by her at least). I'm making gifts of some silver to each of my nieces and nephews for Xmas this year. Hope to get them stacking for themselves.
Congrats in your first silver! The generic bars are great fun, and spectacularly priced right now. Don’t worry about paying a few dollars extra for primo, the satisfaction they bring is great, and many of them will accrue additional value over time.
Cheers! ...and beware the Stackitus!
LOL, I already have a feeling Stackitus may strike! I'm trying to get started with a base in these bars and rounds, plus one or two premium sets going back just a couple years. Then I'll just get the new round from the premium set(s) each year, so that I'm only adding maybe a couple rounds each year and building those collections. That's the plan anyway. We'll see what happens.
They are actually very pretty. Would make some nice jewelry, but of course that defeats the purpose.
They are so pretty that I know I'm ruining them by handling them so much!
Some people do wear silver jewelry (though usually not pure silver). I don't think it looks that good on my skin, but I love to have these little trinkets to admire in my hand.
Nice, congrats.
I really need to up my stacking game. I haven't been buying lately but Silver seems cheap enough that it probably makes sense over other asset classes.
I guess it depends on how much you have and what your targets are.
Congratulations!
They are really... shiny. :) I see more and more people collect them. In a way they are a good hedge for crypto or other risky assets, but so far I haven't got into it.
I was paying attention off and on for many years and only just now started getting any. The price has stayed pretty low for a while, so maybe there is no hurry. It just seems like a fun thing to slowly collect that also does provide some hedge for other investments. A pretty tiny one though LOL
watch out. it becomes very addicting lol
Posted using Partiko iOS
Oh, I already feel that pull! I've made a plan for accumulating very slowly. Let's see if I can stick to it. LOL
Yayyyy that's so exciting! There's a silver bar I had my eyes on, but no point since I'm traveling and have nowhere to send it =/
That is one thing about being location bound. You can collect stuff. LOL Though when I was traveling I still wound up getting so many textiles. I just love the fabrics so much. You can always squeeze one more dress into your luggage, or at least believe you can. How do you hold yourself back?
Well done. It's great to diversify. I also like silver and think that it's good for most everyone to have some.
It probably is the cheapest hedge you can buy. You can therefore stack it at whatever pace you can afford to. Gold is a lot less accessible.
LOL!
These silver bars are great. Waiting to see Rwandan coins
I can't wait for them to arrive!
Silver is a great investment! I write about it in my blog, and have some as a hedge against the market.
buying Bullion is smart, because it has the value of the metal plus collectible value!
All the best,
Powman
www.pocketchangeriches.com
Cool. Btw, it's not good to leave links in comments. I won't downvote you for it, but some people will, and also note that SteemPlus has you showing as a 43.6% likelihood of being a spammer!
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