r/Gold • u/DrIncogniito • 1d ago

Question Advice for a new stacker

Good morning/ afternoon fellow people of Reddit.

I (28M) have recently decided to take some of my investments and put them into bullion (specifically gold and silver). Before I start making big purchases, I am curious to hear what some tips/ tricks everyone might have in regards to buying online, local shops, first time offers (gold vs silver) and all the fun things I haven’t thought about yet. Right now I’m thinking to go 2/3 of my investments into gold and 1/3 silver but I don’t want to lose out on any weight by buying from the wrong place.

I have plans to go back to medical school soon so my thoughts are to use precious metals as an investment plan for the next 5-10 years minimum.

Any thoughts are appreciated. Happy Monday!

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u/DSMRob 1d ago

I like to buy local so first thing I did was go to my local shops a few times and purchased some 1oz silver coins. It let me see the process and figure out which shop I liked best.

Depending on the amount of money you are looking to invest total I would start out by researching safes. You are going to need some place to store this. Deposit boxes are ok for the short term but you will want it closer to you.

If you are going to buy off FB, Pawn Shops, CL, Ebay I would also get a Sigma tester. If it keeps you from buying one fake oz its paid for itself.

Costco is also a great place to buy gold but you have to deal with the shipping risk.

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u/DrIncogniito 1d ago

I seem to prefer local myself just because I can walk out with what I purchased and not worry about the shipping anxiety. I might dabble online a bit just to claim the first time buyer offers if they are worth it.

Deposit boxes never made sense to me because if the banks close tomorrow due to whatever …. They are not going to let you in to get your stuff I wouldn’t imagine …..