Converted some silver into gold.

Downtown1974

Well, I found a local buyer who purchased 500 oz. of mostly generic bars and some ASEs this morning from my stack. Took the funds straight to my LCS and bought MS69 gold. So happy I didn’t have to ship that much silver. I still have some premium bars and all of my 90%. I think constitutional silver will be my play in silver going forward. Love the space I saved gained and love the shiny new gold!

cohodk

I would have kept the silver.....relative value vs gold.

derryb

Agree, much more upside potential with the silver.

Downtown1974

I agree about the relative value during spot price swings. My whole reason for acquiring ANY metals now is for estate diversification. I want to leave my kids something more than just money and real estate.
With that being said...in the mean time, I am the owner of theses metals until I expire. I have been on the fence of doing this since the late summer. Never thought about the logistics involved in moving all of my silver until I was watching footage of the flooded homes in the Carolinas this summer, and Texas the year before. And then when I read what happened to crazyhounddog from the coin forum - how he lost a big part of his collection from the wild fires, I made up my mind.
For the weight and size of 500 ounces of silver, I can fit the same value of gold in my pocket. If you ever had to leave for ANY reason (doesn’t have to be a natural disaster) lugging around 40 pounds of silver is gonna get old real quick. Now I only had just over 1,000 oz. of silver so that’s around 80 pounds and quite a bit of space. I would most likely abandoned it and take more of the necessary items I need.
I thought of selling the rest but as I said earlier...I want to leave my kids a diversified portfolio.
It may sound like I’m being paranoid, but I have always been a proactive person, not a reactive person.

blitzdude

I still buy both and currently sit on a ratio of 59.84ozt silver per ounce of gold. I long for the day when I can swap the majority of my silver holdings for gold for the exact reasons you mention above. I just have a hard time thinking of doing it at the current ratios of 85:1. I guess the spread could continue to increase but history suggests that silver is currently the one that is "undervalued". No doubt much easier to deal with a tube of gold eagles than a couple monster boxes of ASE. My goal is ultimately the same.

meluaufeet

@Downtown1974 It sounds like you made the right choice for you. Congrats. Keep an eye here on the precious metals forums for deals on ebay using coupons, ebucks, stacked with CC cash back, and add-on like ebates and honey. A great way to pick-up MS70 bullion for less than MS69. It's smaller purchases to max out savings but its really cool way to stack.

We have some peeps here that share deals they found and its the best quick resource I've found. They're good.

Hemispherical

@Downtown1974 said:
Well, I found a local buyer who purchased 500 oz. of mostly generic bars and some ASEs this morning from my stack. Took the funds straight to my LCS and bought MS69 gold. So happy I didn’t have to ship that much silver. I still have some premium bars and all of my 90%. I think constitutional silver will be my play in silver going forward. Love the space I saved gained and love the shiny new gold!

IMO. That is a good deal. No shipping or insurance to pay (except for gas in your truck) and you got gold. You also mentioned you still have over 1,000 oz of silver left.

I am assuming you have a truck to lug around your PM. LOL

Downtown1974

@Hemispherical said:

IMO. That is a good deal. No shipping or insurance to pay (except for gas in your truck) and you got gold. You also mentioned you still have over 1,000 oz of silver left.

I am assuming you have a truck to lug around your PM. LOL

I had just north of 1,000 oz. before selling about half to purchase the gold. This was a good play for me. Results may vary from stacker to stacker.

I must add...the stars aligned for me on finding the right buyer. It was somebody I have done business with in the past. I reached out to him and asked if he would be interested in making the purchase. He replied by asking me to “put on a pot of coffee, I’ll be over in half an hour”.
I got a great price, he got a good deal, I didn’t have to ship it and he didn’t have to wait to take delivery on it. Life is good!

asheland

Let's see the new gold!

Downtown1974

Here is the slabbed gold I bought. Also bought (10) 1/10 oz. proof ASEs in OGP that I didn’t want to pull from the packaging to photograph. Still have some money left from the silver I sold. I may get some 90% after the holidays.

asheland

Nice haul!

Hemispherical

Very nice!

tneig

Good job. Trying to push around a wheelbarrel of $30+ silver turned out not to be my thing either. The ASE's, Gold, stacks of $100 dollar bills, and the statement from my mutual funds are much easier.

1630Boston

Very nice trade IMO

Downtown1974

Thanks fellas. I’m very happy with them!

hchcoin

I did the same thing a few years ago to save space and lighten the load just like you said.

VanHalen

The NGC holders: "AUTHENTICATED BULLION" are nice in lieu of 69/70 stuff.

Downtown1974

@VanHalen said:
The NGC holders: "AUTHENTICATED BULLION" are nice in lieu of 69/70 stuff.

I agree. Those are my favorite!

blitzdude

Exactly considering all bullion from the mint is 69/70. lol Never understood the whole grading of modern bullion. Authentication, absolutely.

ricko

That seems like a good move... I keep both, but favor gold. I know percentage wise, silver can provide a significant return, and moves quickly. Gold, however, is always liquid and retains good value. Cheers, RickO

TwoSides2aCoin

Prudence is having a position in both.

jmski52

silver can provide a significant return, and moves quickly. Gold, however, is always liquid and retains good value.

Prudence is having a position in both.

+1

+1

DoubleEagle59

You all should convert every ounce of gold into silver.

Great time to do it based on the GSR.

Then in the future (probably a 2 to 4 year horizon) convert this silver all back into gold and watch your gold ounces multiply (regardless if the price goes up or down).