5 mile
Forum Supporter
Your thoughts on selling silver to buy gold.
I only buy silver at spot prices. No way would I pay over that price. No need for brokers or anything like that in this day and age. I buy and sell on eBay and Craigslist. I wouldn't touch silver bars with a ten foot pole, though. WAY too many bogus silver bars out there. I stick to junk silver coins. Very strong market for them all the time and almost zero chance of counterfeits.Don't forget no matter which commodity you buy, you will be paying a buyer's premium when you buy it and a seller's premium when you sell it to most dealers. And both just will eat away if there is any appreciation/profit to be made. Both require safe keepings/storage. Plus depending where you buy it, did you buy the real McCoy and not some counterfeit.
The bottom line, is it worth the risk and cost factors of the few dollars to possibly be made?
Hey 5Mile! You old MegaFonter! How you been old Buddy?
To answer your query, 'selling silver to buy gold'......As mentioned by FreeBirdTim, an Old guy I know told me this...He likes the scrap silver coins... In the older mintages out of circulation strikes....
Mercs and Standers and Barbers and BF's and Walkers and Peace and Morgans...Common dates with a few numismatic premium flyers....He also had some 1oz bullion rounds of interesting strike, like the Buff Nickel and the Merc dime 1oz rounds...they are really pretty he said!
He dont hold Rosies or GW's or JFK's..simply on account of the design is still in circulation....
He would pop for a gold coin now and then, but again, along the same lines...Original old strike, not so much interested in the new bullion rounds ...So would He sell his silver to buy some gold? Probably not, maybe do a trade of somesort with his numismatics...He'll buy them both with extra Frns or clad when possible...that was His plan...
Unfortunately, he no longer owns any gold or silver coins, due to a tragic boating accident that is too painful for him to discuss..said he was lucky to make it to shore alive..He warned me this is quite a common occurance befalling all coin Hodlers throughout the ages from Atocha to Satoshi...
Regarding Gold coins....From what I've observed, The little $1 gold coins hold a premium over melt, on account of the ease of transactional transferrance, easier to move..so it would be better to have 20 $1 gold coins as opposed to holding one $20.... Thats what the old guy told me anyways...
So for me, as I listened to him, I said to myself, "The Hell with coins!" ...I figured probably the best trade investment for SHTF scenario is a 144 brick of Bic Lighters...a freaking guy would be KING! And a brick of some ballisticals that fit an appropriate dispenser ...and a dog of course...
Your thoughts on selling silver to buy gold.
I've done both (selling one to pick up the other). Personally, I think you're better off researching rarer silver coins (such as early silver half-dimes) and trading in your silver for that. They grow in value much more than silver or gold does.
On the flip-side, trading silver for gold makes stacking MUCH easier.. .and you're less likely to trade, give-away, or simply sell a gold coin.
Cheers,
Skippy
The one big drawback to buying scarce or rare silver coins is that they're much harder to unload when the time comes and the buyback percentage is WAY less than for bullion items.
I have some coins but most of my holdings is in silver and gold. Over the years I've made a lot of money buying and eventually selling precious metal when the time was right. If you sold rare coins and made a 30% profit in a few months you are definitely in the minority. Of course being able to make a profit that soon depends on what you paid for them originally. Precious metal depreciates that's true but it also APPRECIATES . It's up and down on a daily basis. It's just a matter of holding it until the right time comes along....and eventually it will. I have collector coins but I know I won't see a profit on them. The enjoyment I get from having them is my profit.Possibly, but the difference is they rarely depreciate. Can't say that about bullion.
I've turned around purchases of rare coins in a matter of months and made 30% profits. Depends on what/why you're holding onto the coins for.
Some folks hold silver because they truly believe the economy will falter and it'll give them the opportunity to barter for food and stuff with the silver. Me? I just stock up food, and basic supplies (like a water purification kit!) It's much easier and 10x easier to consume. No transactions required, and frankly, it's a lot easier to access when the time is needed. I have a nice 4-months supply in a pantry upstairs, could be stretched much longer if supplemented.
Skippy
It’s too bad that we’ve been dealing with a completely rigged system. TPTB are in control of PM prices, and the dollar must remain king. Gold/silver prices creep up, HULK SMASH!Keep and buy both. But if you asking which one is due to go "BOOM" the soonest.......
I would put my faith in silver.