When you first begin buying precious metals, it can be quite overwhelming. This video goes over a few key terms and 9 essential tips to help you begin stacking precious metals:

9 Tips for Beginner Stackers- Stacking 101:

Tip 1) Set an initial budget- usually I tell my friends and family to start with an initial investment between $500 -$1,000 for their first purchase. If you don’t have that much to start, no sweat, you can start with much less.

Tip 2) Comparison shop. Hunt for the deals. I stated in a previous video that some of the major online dealers have deals first thing Monday mornings. That would be a good time to start. Additionally, take advantage of some dealers intro programs.

Tip 3) Buy a mix of coins, rounds, and bars. Many prefer coins as they are government backed and highly recognizable to dealers, like the Eagle or Canadian Maple leaf. However, you tend to pay less per ounce the larger the weight of the item.

Tip 4) Diversify your metal. Buy not just silver, but some gold too. Right now, the market favors silver- its a good time to buy, as the ratio currently sits at 83:1. However, it’s always wise to not put all your eggs in one basket. If gold is pricey for you right now, consider buying smaller sizes, like the ¼ oz or the 1/10 oz.

Tip 5) Buy tarnish paper and silica dry packs. These will keep your metals from tarnishing and toning and keep moisture out.

Tip 6) Wear gloves when handling your metals. The oils from your hands will tarnish your metal.

Tip 7) Think of storage solutions, like a safe bolted to your floor, or a safe spot in your home. Additionally, have a couple hiding spots so that your entire stack isn’t all in one place. This will hedge your risk of losing everything to theft.

Tip 8) DO NOT store your metals in a safe deposit box! What if you need access to your metal and the bank is closed? Additionally, if there ever were a flood, fire, robbery, etc., the bank’s insurance doesn’t cover your contents in the safe deposit box. Also, you will see once you start stacking metal, it begins to take up space. The safe deposit boxes at banks are limited for their storage space.

Tip 9) Try to put a little money aside from each paycheck (try 5-10%) and buy some metal.

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