No Longer A Silver Stacking Virgin & Yes I Do Feel Screwed

2TSj...cEUn

16 Jul 2024

151

Oops, I did it again....
Well, actually I Did it for the first time.

I doubted for months, then I made a decision. I will start adding to the stack I inherited, but how?

Thank God for the Web

As I said in a previous post I am a cold-hearted stacker, for now I am not in it for the stories behind the coins. I just want the shiny thingies at the best price.

That might also be because I am Dutch and therefore stingy by nature.
Online I found several places that felt kinda trustworthy but as a noob I don´t feel comfortable getting a 1000 Euro worth of Silver in the mail even though they say it´s ensured.

So any good trustworthy websites and advice on this is very welcome till that time I still feel better picking them up.
The thing is those freaking taxes, how will I ever get those back???
21% is quite a bit with Silver at its ATH already, and then I needed to pick it up in Madrid, which adds another 200 euros to the total package.

But maybe in a year as I do have to go to Madrid by then, I will visit those guys.
For now it seemed that getting myself a safe kilo of silver in Spain would cost me 1300+ euros that much was clear.

Me Not Like

That was not really what I planned on doing, paying that much, and the other thing was that it was a one-piece. I am not stacking bars, I want to be stacking the smaller stuff.

Why
I am stacking because I forsee a Thunderdome scenario and want to be prepared for that post-Zombie Apocalypse world. How am I gonna pay for my bread and booze if I only have bars of silver?

I prefer my brother, the original stacker´s, way of stacking.
Just have a whole bunch of coins with different values allowing you to pay for whatever people could get their hands on when the world as we know it went to hell in a handbasket.
Maybe I am just too much of a noob to get it but chipping pieces of a silver bar sounds like hard work in a post-apocalyptic world.

And that world is the main reason why I am stacking. Hopefully, I can hand my silver over to my kid or kids one day, but I want to have a backup when fiat, stocks, and Bitcoins fail.
Hence even though I love the looks of that silver bar, I prefer coins.
At least for now.

Back to Google and.... in Spain that would get me something like this:
I would need 35 oz to make a kilo ending up costing me about 1300 Euros.
Or if I get a kilo of panda coins a little less:
Anyway, I still can´t get over that 21% tax stuff tbh. That is really annoying.
But I was kinda certain that I wanted coins, and then I had my Archimedes moment. In a few months, I was flying to the Netherlands.
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I would be close to the shop where the O.G. Stacker started his stacking journey.
There would not be a more worthy tribute than to start my stacking journey there as well, and maybe it would be a bit cheaper.

Online they seemed to be a bit cheaper indeed that might be due to the fact the coins are only 72% silver and you get the equivalent of a kilo of silver hence 1,3 kilos of these coins.

The Day I Bought My First Kilo

On the morning of the they that I planned to buy my first kilo, I checked the price and they were up.
On their website, the kilo of coins was said to be 1138 euros that morning.
I went into the shop, there was no one there but me and the two people who worked there. So I sat down with the guy that runs the place and we had a nice long chat. Best thing I learned a few valuable things.

But when we got to the moment of truth, the payment I had enjoyed myself so much having a great convo with this guy I did not think to check the current price on their website.
And I paid:
While the highest price that day was:
Which should have made a kilo price of 1080 euros, well the website already showed their price of 1136 was 50 euros too high.

Except for that little spike the price was pretty flat I don't think that when I pressed pay the price was up another 40 euros just three hours after checking.

So I am kinda certain I got screwed 40 euros, that might only be 3.3% but for a stingy Dutch guy that hurts. The worst thing it hurts more than the 21% taxes the government screwed me with, but that is maybe I am just to used to it so I bend over and let it happen for now.

Anyway this is another expensive lesson learned because I went to buy 1200 euros of silver and all I got was this pen:
Well, that and of course an overpriced kilo of 72% silver Dutch coins:
There is that sexy bag again, but this time I got a little black bag that was even sexier.
Now you are all hoping for an unboxing of that sexy bag, you want to see those shinies naked, because nobody likes plastic fantastic. But I feel so screwed I am not in the mood.

Bikini Bottom Line

I need to digest being scammed the first time buying silver, so more to come soon.
I promise you will see them naked! I will get them out of that sexy bag and flaunt them.
I will do the math and see if there is any way I can find a way to compensate myself for that 21% tax and the 40 euro scammer fee.
But for now, I will drink a big cold glass of silver polish and try to forget this ever happened.