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Selling silver to buy gold?

SimpleCollectorSimpleCollector Posts: 536 ✭✭✭✭✭

I was buying silver from 2017-2020. In other threads, I indicated that I sold some late last year as silver was around $28, I sold some a month or so again when people were paying over spot.

I still have about 30% of what I had left. If I sell this time, it would be to add some gold pre33 generic year gold coins to my collection. Based on where the silver and gold markets are, is it a reasonable time to move from silver into gold, or would people suggest holding the silver. There is no major need for me to do this, but it would free some funds to keep on the hunt for gold coins...I do not plan to add any silver at the price and especially premiums over spot that happening now.

Thoughts?

Comments

  • derrybderryb Posts: 36,021 ✭✭✭✭✭

    Silver will provide much greater returns than gold. Buy the premium dips. . . when you can.

    The decline from democracy to tyranny is both a natural and inevitable one.

  • blitzdudeblitzdude Posts: 5,291 ✭✭✭✭✭

    Gold is certainly what's most desired, glad to see you finally deciding to leave the gutter (It's what Kings do :smiley:.) I love your plan but right now premiums on Pre33 are absolutely bananas. I'd hold out awhile. Worst case down the road you could be buying your gutter metal back for half what you just sold it for. Good Luck!

    The whole worlds off its rocker, buy Gold™.

  • streeterstreeter Posts: 4,312 ✭✭✭✭✭

    If you have SAE and can get that big premium on the sell side, I'd move the silver. But if you are selling at or near spot and buying gold close to spot then it's a coin flip.

    Have a nice day
  • jmski52jmski52 Posts: 22,265 ✭✭✭✭✭

    I could make an argument for going in either direction, and an equally-compelling counter-argument in the opposite direction. That being the case, for me the answer is to avoid churning my holdings and the associated costs.

    For anyone else, it definitely depends on your individual circumstances. At least that's how I see it.

    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • MsMorrisineMsMorrisine Posts: 32,039 ✭✭✭✭✭

    There are wider than usual spreads when buying then selling

    You have to consider if you’ll make the spread up easily

    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • BaleyBaley Posts: 22,658 ✭✭✭✭✭
    edited April 11, 2021 1:48PM

    With the spreads, and the transaction costs including possibility postage, insurance , and taxes, plus time and effort shopping, shipping, and handling, I've generally avoided trading and swapping among the metals. New investment money in PMs has been, rather, allocated to the desired addition during market declines, with the older stuff I've collected just held on to, and occasionally sold during market upswings.

    Liberty: Parent of Science & Industry

  • jmski52jmski52 Posts: 22,265 ✭✭✭✭✭

    I've generally avoided trading and swapping among the metals. New investment money in PMs has been, rather, allocated to the desired addition during market declines, with the older stuff I've collected just held on to, and occasionally sold during market upswings.

    This.

    You decide what asset classes that you want to invest in, and then you maintain the ratio between the assets that you believe offers the best combination of risk, return, liquidity and safety.

    Periodically, you review the ratios, based on what you think about the prospects for each asset class and then you re-balance the entire portfolio to maintain the ratios you perceive to be best for your own situation.

    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • rickoricko Posts: 98,724 ✭✭✭✭✭

    At the present, I am not adding or selling bullion. I could do well selling either silver or gold since I have long been in a 'pure profit' position. The economy is in a precarious state, and the proposed government spending programs do not bode well for the future. Cheers, RickO

  • SmudgeSmudge Posts: 9,163 ✭✭✭✭✭

    Not long ago GSR was 120, now at about 70. Just watch and trade when it is most favorable.

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