Sell silver, buy gold?

Kip

Would this be a good time to sell my 500oz of $6 silver and buy gold when it comes back down??
Thanks
Kip

DrBuster

I converted some the past 2 weeks. Not much, but it was $5-7 range silver that I swapped for 2/10ths gold. Seemed an easy play to me.

agentjim007

I'd rather be in $6 siver than $1250 gold

pmcollectour

<< <i>I'd rather be in $6 siver than $1250 gold >>



Agreed. Gold has to turn back to 1000-1150 this year. It has to because I want to buy more

Kip

<< <i>

<< <i>I'd rather be in $6 siver than $1250 gold >>



Agreed. Gold has to turn back to 1000-1150 this year. It has to because I want to buy more >>



I just thought I'd be better off holding more gold than silver. If I sold silver now, held $$ and waited for gold to retreat, then I could buy into more gold.

Kip

OOOPS..to late :-)

1201reset

<< <i>

<< <i>

<< <i>I'd rather be in $6 siver than $1250 gold >>



Agreed. Gold has to turn back to 1000-1150 this year. It has to because I want to buy more >>



I just thought I'd be better off holding more gold than silver. If I sold silver now, held $$ and waited for gold to retreat, then I could buy into more gold. >>



How about buy Gold now, then sell the Silver in Jan of next year.

Your tax planning may differ.

_Reset

OPA

Anytime you can double your money, it's a good time to sell. That's a "no brainer." The intricate part is, in what & when to utilize your gains.

DrBuster

For everyone saying they'd rather sit on the cheap silver, I don't see how realizing some gains is a bad thing if you do it smallish.

Ex: traded/sold a paltry 12 oz generic silver
total cost on that was say $60
threw down basically another $45 cash at the BM with the sell value
got 2 1/10 pieces

Now I have a couple gold pieces that I could sell all day long for $260 at a cost to me of basically a hundy. That's still a nice percentage gain, and I got to put prior investment to modern work. And with it in fractional the swing on gold would have to be pretty big for me to not realize the premium and take any kind of a hit. With silver, it could drop back down to $12 again quick and I'd only be looking at $60 up. Gold would have to hit like $500/oz for me to ultimately lose any bit of money on this.

6 of one, half dozen of the other really I suppose, but silver ultimately is way cheaper to replenish on the $1-2 dips. Whereas gold needs to drop what, $100-150 for you guys to move? I understand it, but if you're not talking 10oz minimum on gold then it's moot. I say trade away, even at $1200/oz, and see what you can get in fractional pieces closest to spot.

to add: was the 'too late' post meaning you did it?

cjmezz

i'll buy all your silver for $7 an oz and sell you all my gold for $1200 a oz!!

good luck whichever you choose.....you cant go wrong either way!

derryb

Since all tax brackets go up at the end of the year, now might be a good time to take capital gains. I believe silver will go up more before then, I'd hold a couple of more months.

jmski52

Why generate a tax liability if you don't need to liquidate? Yes, I know that marginal tax rates will probably be higher in a short time, but in my mind you should try to limit your tax exposure until you must liquidate. Every tax bite reduces your principal, whether it's denominated in dollars, or ounces.

mkman123

How about sell half of it and get gold so that way you still have both gold and silver?

gsa1fan

<< <i>How about sell half of it and get gold so that way you still have both gold and silver? >>




+1

zrlevin

I think that selling half to buy gold in the future is overly speculative, but it is certainly better than selling all of it.

I'm happy with my stack of silver, the majority of which was bought recently but some has a cost basis down to $10 an ounce or so.

I plan to keep adding evenly to both stacks in coming months and years. I'm looking at my stack as an extremely long term investment...20-50 years or more, so I ignore the brief dips and surges for the most part.

halfhunter

It will cost me $19 to replace my $6 silver.

I believe that silver stands a much better chance of doubling to $38 than gold to $2500 . . . but who knows.

No way am I trading 67 ozs of silver for 1 oz of gold.

JMO

HH

gsa1fan

<< <i>It will cost me $19 to replace my $6 silver.

I believe that silver stands a much better chance of doubling to $38 than gold to $2500 . . . but who knows.

No way am I trading 67 ozs of silver for 1 oz of gold.

JMO

HH >>



gold for $402 a oz sounds good to me JMO

Konahead

<< <i>I'd rather be in $6 siver than $1250 gold >>




I still believe Silver's time is yet to come.

Kip

Thanks everyone..I am glad I held!! May still sell at $20 if its gets there and hold $$ for decline in silver to buy back in..unsure right now..who knows..it may not retreat :-)
Kip

Wolf359

<< <i>Thanks everyone..I am glad I held!! May still sell at $20 if its gets there and hold $$ for decline in silver to buy back in..unsure right now..who knows..it may not retreat :-)
Kip >>



Indeed, smart decision. I would hold. It looks really strong. Best of luck

jmski52

Another consideration - if you are selling one to buy the other, you are speculating on a change in the ratio of two metals. Favoring gold is a monetary play, and disfavoring silver is an economic downturn play.

What you might be ignoring is that silver may run into a physical shortage/delivery problem that could dwarf any other consideration such as gold doing better during a monetary crisis. Besides, silver could also benefit from a monetary crisis, so gold's advantage in that instance is somewhat muted.

These factors, in addition to the tax considerations that I mentioned earlier would nudge me towards a gradual accumulation of gold without selling any of my current silver position, but it would also keep me in the market for additional silver accumulation if the funds weren't available for a gold purchase.

The best approach for pm accumulation is a gradual one anyhow - it reduces your market risk, pure & simple.