Started Stacking Silver a Few Months Ago..

[Terry Soloman]

Supposedly, New York precious metal purchases over $1000 are exempt from sales tax. Save up and buy in bulk. State by state summary here.

Thank You for this info! Very helpful.

 

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[Quinc]

I only buy silver to give to kids as gifts. If you are looking for something to invest in you are much better off putting your money into the market. a fund like QQQ, QQQM, VOO, etc will yield you much higher results.

 

[BennyV]

I only buy silver to give to kids as gifts. If you are looking for something to invest in you are much better off putting your money into the market. a fund like QQQ, QQQM, VOO, etc will yield you much higher results.

A little diversification never hurts.

I’m a big proponent of passive investing in index funds.

I think physical metals can have a place in some people’s portfolios.

 

[Terry Soloman]

I only buy silver to give to kids as gifts. If you are looking for something to invest in you are much better off putting your money into the market. a fund like QQQ, QQQM, VOO, etc will yield you much higher results.

I am in the American Fund, and Jackson National mutual funds as far as the stock market. The gold nuggets and pickers I have found over the years sit in a safe. Five children, four grandchildren, two great grandchildren (and counting!), I want them all to have something physical, touchable that came from me to them. Silver is still affordable so until it isn't I'll keep stacking.

 

[Johnnybravo300]

I stack enough to make up for those who don't haha. Thanks fellas!

 

[Quinc]

I stack enough to make up for those who don't haha. Thanks fellas!

Have you ever sold any? did you sell at spot or below spot?

 

[Johnnybravo300]

No i dont sell any yet. I'll start selling in 12 years or so when I want to slow down on working. For now it's work work work.

 

[ToddsPoint]

I bought $2500 in ‘64 Kennedy halves the summer before last. Since they stopped circulating the same yr they were made, I was surprised how many of the coins were in nearly MS condition. Some were even good enough that they would grade. They made 400,000,000 so they will never be rare.

 

[fistfulladirt]

I only buy silver to give to kids as gifts. If you are looking for something to invest in you are much better off putting your money into the market. a fund like QQQ, QQQM, VOO, etc will yield you much higher results.

I don’t consider metals to be an investment, but a place to park, store and hold wealth. If you want to grow your money, agree, get in the market.

 

[fistfulladirt]

No i dont sell any yet. I'll start selling in 12 years or so when I want to slow down on working. For now it's work work work.

Johnny you may discover you’ll never need to sell. I’ve been retired for years, haven’t needed to touch my stack or 401k nor IRA. Keep your debt low as possible is the key.

 

[dowser]

Was on the phone with a friend of mine, and he said because of Silver going up, he'll start collecting..
He bought a tarnished candlestick holder, with no markings, at Goodwill, for his first choice..

 

[fistfulladirt]

Was on the phone with a friend of mine, and he said because of Silver going up, he'll start collecting..
He bought a tarnished candlestick holder, with no markings, at Goodwill, for his first choice..

Dowser let him know that there should at least be a 925 or Sterling stamp or else it’s probably just plated. Lots of plated pieces out there.

 

[dowser]

Dowser let him know that there should at least be a 925 or Sterling stamp or else it’s probably just plated. Lots of plated pieces out there.

When I asked if it was marked, he said no, then noticed a ding in it.. He then saw it wasn't Silver inside, but didn't really care .
He still had a spot for a Silver plated candlestick holder..

 

[Johnnybravo300]

Johnny you may discover you’ll never need to sell. I’ve been retired for years, haven’t needed to touch my stack or 401k nor IRA. Keep your debt low as possible is the key.

Yes I'm debt free except for 6k I owe on my off grid property. I'll have that paid off this summer when asphalt picks up.
I already live very cheap without all the city prices. We only live on about 20% of my income and my wife stays at home.
I save most of my paychecks or buy gold/silver.

 

[Johnnybravo300]

I also stopped paying and filing income taxes about 20 years ago and that has made a huge of difference in my stack.

 

[ConceptualizedNetherlandr]

I also stopped paying and filing income taxes about 20 years ago and that has made a huge of difference in my stack.

Is that a crime or do you make so little you are below the filing requirement?

 

[Johnnybravo300]

No its not a crime. They deemed me uncollectable in 2011 so I'm done with that.
I make about 100k a year.

 

[KYgotGOLD]

I am brand new to buying silver bars and American Eagles. Where do you buy from? So far I've used AMPEX, and GOVMINT, and I am pretty satisfied.
Any suggestions or tips for me as a new silver stacker?

Try flea markets

 

[ConceptualizedNetherlandr]

No its not a crime. They deemed me uncollectable in 2011 so I'm done with that.
I make about 100k a year.

Can you explain what that is?

 

[robertk]

No its not a crime. They deemed me uncollectable in 2011 so I'm done with that.
I make about 100k a year.

If by "done with that", you mean you aren't paying taxes, I'd tread lightly. At the least, I'd double check that with a tax attorney. Being deemed uncollectible only pauses collection attempts on your tax debt at that time, it does not remove it. It also does not remove any future tax obligations. The 2011 debt has likely expired (collection limit is ten years), but that won't change any taxes you owed on income since then (assuming it's taxable).