Bullion blunders: My 5 common mistakes that mew stackers make
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With the price of gold & silver spiking recently, you might have found yourself thinking, “Now’s the time to invest in precious metals.” And you’d be right , stacking is a time-tested way to preserve wealth. But before you rush to your local dealer or start filling your online shopping cart, there are a few things to consider. Precious metals are a (very) long game, and while they can be hugely rewarding, many beginners stumble into the same traps. So let’s go through some of the most common mistakes and pitfalls new stackers make, so you can avoid them...
Excitement often clouds judgment, and new buyers sometimes overpay for their first ounces. Premiums: the price above the spot value of the metal; can vary wildly. Numismatic coins, proofs, and special editions are tempting, but if your goal is stacking for wealth preservation, you’ll want to stick with low-premium bullion like silver rounds or gold sovereigns.
It’s all fun and games until you have a shoebox full of silver under your bed. Metals are heavy, valuable, and easy to lose or steal. Before you stack, think ahead: are you using a home safe, a safe-deposit box, or even a private vault? A proper storage plan protects both your investment and your peace of mind.
When you first discover the world of coins, it’s easy to want one of everything. This was the trap i fell into! I saw a series and had to have it. Mints know this, that’s why they release endless commemoratives and limited editions. The truth is, not all of them will appreciate in value. Decide early whether you’re a stacker, a collector, or a bit of both. Focus, or you’ll spread your money too thin.
It’s exciting to own rare or unusual pieces, but can you sell them easily when you need to? Generic bullion like Britannias, Krugerrands, and bars are far easier to offload than obscure collectibles. Keep some of your stack in liquid, recognisable formats. Think of it as having “spendable” metal for emergencies.
Precious metals are not a get-rich-quick scheme* #FACT . Prices fluctuate daily, and if you buy expecting to double your money in a month, you’re setting yourself up for disappointment. Metals are about long-term security and slow, steady growth. The best stackers are patient, and ruthlessly disciplined when everyone else is panicking.
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Investing in gold and silver can be one of the smartest financial moves you’ll ever make — if you avoid the rookie mistakes. Pay attention to premiums, plan your storage, keep your stack focused and liquid, and above all, remember: precious metals are a marathon, not a sprint. Play the long game, and your future self will thank you.
