The Nervous Start
Month 1 and 2 were all about 1oz Silver Maples. I was so scared of making a mistake! I learned quickly that buying single coins at a local shop in Ottawa means paying a higher premium than buying a tube.
Personal Tracking Journal
My First 6 Months: Results and Spreadsheets
Wow, I actually did it! I've been tracking every single gram and ounce since I started. It’s been a wild ride of checking spot prices and realizing how much I didn't know about premiums in Canada.
Fractional Gold
By Month 4, I saved enough for a 1/10 oz Gold Maple Leaf. Representation is everything! Seeing that tiny bit of gold next to my silver stack made the whole "investing" thing feel very real.
Bulk Strategy
Month 6 was the turning point. I stopped buying random single coins and focused on 10oz silver bars to lower my average cost per ounce. My spreadsheet started looking much healthier!
The Math Part
Spot Price vs. Real World Premiums
I used to think if gold was $2,700 CAD, I could buy it for $2,700. Boy, was I wrong! My spreadsheet shows I was paying anywhere from 5% to 15% over spot depending on the item.
I started tracking the "melt value" versus what I actually paid. It was eye-opening to see how much the Canadian dealers add on for shipping and "handling." Check out my notes on Silver vs Gold premiums to see the difference.
What I Learned (The Hard Way)
01
Patience is a superpower
I used to rush to buy as soon as I had $100. Now I wait until I have enough for a larger purchase to avoid multiple shipping fees. Shipping eats your profits faster than a market crash!
02
Taxes are tricky
I didn't realize that some items are taxed differently in Ontario. I had to read up on Canadian Taxes on Precious Metals just to make sure I wasn't overpaying the government.
03
Authenticity check
I bought one "deal" from a random online marketplace and spent three nights worrying it was fake. Never again! Now I only use reputable dealers. See my guide on how to avoid fake gold.
My Goals for the Next 6 Months
My plan is to reach a 70/30 silver-to-gold ratio. I want to add at least one more 1/4 oz gold coin and maybe a kilo of silver if the price dips! Imagine holding a whole kilo bar! I'll keep updating this log as I go.
Target Balance: $5,000 CAD in physical metal by December.
Want to see where I started?
Check out my very first entry and the mistakes I made in the first week of my journey.
Back to the Beginning