Where to begin? :
I have been asked about investing in Silver and initially wondered myself, just how to begin this type of investment. I know how to purchase a home or property as an investment, and I know how to setup a brokerage account to invest in stocks but knew very little about buying metals as an investment. If it weren’t for my brother suggesting some good places to go to purchase, I would not have known where to begin. Here is what I did:
I first watched. Being on the fence in the beginning is the perfect time to so some research. I watched spot prices. I read articles. I watched spot prices. I kept up on global news. I watched spot prices. I went to coin shops to browse. I listened to what they thought about the market in general. I watched spot prices.
Some of you might be saying, ‘well duh, do research on anything you buy!’ but there are many investors that jump on a bandwagon of the next big thing and I tend to error on caution until my investment proves worth more time/effort (HA, this blog!).
All of this was just to see if I wanted to get involved in any way with the precious metals investments. One of the biggest things I have learned in investing is to do your research and decide for yourself.
Took one small step. I made my first purchase of some silver eagles. Not a whole lot, I just wanted to understand the process a little better and see how it went. They arrived, I unpacked them, inspected, and verified. OK. After continued research and even more spot price watching, I purchased a little more, and again a little more, all of course, during a dip in price.
After I purchased what I thought to be enough,
I held. I don’t think this current Silver Bull market is finished yet. Of course I continue to watch spot prices for another dip and may continue to purchase when an opportunity comes.
The next post will cover in a little more detail some of the places to watch for future indicators in the metals market.
list of vendors I purchase from here.