Poll : Would you trade a $1,000 bag of 90% silver for gold? * Edited* Glad I traded at $39.50 silver

fivecents · September 8, 2011 4:25AM

Would you trade a$1,000 bag of 90% silver for the equal value in gold?

**Edited**: I traded when silver was at $39.50 and gold was at $1,780. I traded even $1,000 face 90% for 15 one ounce gold eagles.

mkman123 · September 8, 2011 5:26AM

I see no option for trading half the bag and also what kind of gold? Govt or stuff like gold.commem coins?

jmski52 · September 8, 2011 5:49AM

What kinda gold? And how much of it?

derryb · September 8, 2011 5:52AM

buy high, sell low? I don't think so.

fivecents · September 8, 2011 6:57AM

<< What kinda gold? And how much of it?

>>

Maples, krugs and AGEs(AGEs would carry a larger premium. I have not hammered down how much..yet.

<< I see no option for trading half the bag and also what kind of gold? >>

Not interested in trading a half bag. A full $1,000 bag of 90% silver brings much more money than a partial bag.

One of my trusted dealers told me there is a lot of 90% silver over hanging the market right now. He was not interested in the trade. At least one dealer I know would be interested in the trade.

roadrunner · September 8, 2011 7:06AM

In late April with the GSR at a lowly 31-34, the answer to this question would have been yes. In fact it was asked at that same time and most people would not
give up their silver 100 oz bars. Then ensuing drop in silver gave gold a 45% net gain in comparison over the next few weeks. With the GSR still up around 43-45 it may yet
bump into 47-50. But as derryb has suggested why make that trade for such a tiny potential reward?

Some refiners are back logged for weeks and will not lock in prices until the silver is melted. You don't have that problem with .995 to .999 products. While 90% silver can
be a convenient bartering tool in a shtf scenario, it also has the potential to tie you up in a non-shtf scenario as in a repeat of Dec 1979 - January 1980.

roadrunner

fiveNdime · September 8, 2011 7:32AM

no....
...maybe IF all of it was obtained at face or when silver was <$10

bretts911 · September 8, 2011 7:55AM

The poll is tied atm 50 50 never seen that before lol

percyb · September 8, 2011 8:17AM

I'd go 1/2 silver 1/2 gold or just keep the silver and buy gold with other cash.

jmski52 · September 8, 2011 8:38AM

90% is being traded at a discount to spot, gold coin is being traded at a premium to spot. Trading 90% for gold would result in the liquidation of silver at a discount in order to buy gold at a premium - even if the market value in dollar terms were equal.

It is likely that the discounts and premiums will swing the other way and when they do, this trade would look worse and worse.

My 90% is not available for such a trade.

gsa1fan · September 8, 2011 8:51AM

In a heart beat

Of course I'm prejudice!

piecesofme · September 8, 2011 9:00AM

Would you trade a $1,000 bag of 90% silver for the equal value in gold?

A resounding HELL NO!. far more in the bag of 90% to go towards negotiation of price rather than just Spot + whatever % you're willing to pay. All...jmho.

cohodk · September 8, 2011 10:07AM

<< In a heart beat

Of course I'm prejudice!

>>

"In a heartbeat" was the first thought that came to my head.

The discount to spot for 90% will only widen if silver goes higher.

Staircoins · September 9, 2011 3:10AM

There is more upside to the 90% than to the gold right now, IMHO.

Although there are other advantages to the gold, such as storage & convenience.

All things considered, I'll keep the silver thankyouverymuch.

ttown · September 9, 2011 5:26AM

Strange they'd but backed up all of a sudden with silver no where near it's high. Makes me wonder if this isn't going to be the norm the rest of the year with the Asia market to open. They have to get their PM's from somewhere like the ETF's did when Buffet sold his holdings right before they opened. This will be interesting to see the results, Asia may call their PM's home with may be a hard order to fill if they want physical from the US and foreign holdings.

Now to the question. Maybe but what we're seeing right now is how 79/80 was if we were to blow though the PM's here could you get out or would you be stuck since the refineries are at full capacity. That's one you need to ask yourself but going though 79/80 taught me I sure wouldn't want to have a bunch of 100 oz silver door stops if this thing went ballistic and then dropped very fast for the next 2 or 3 decades. Although if I were to get stuck with silver something you could make circulated sets out of would be more to my hobby likings.

If the gold was pre 33 stuff I'd stick with the gold it will never be the price of gold on the downturn. If it's bullion then you have what you have "spot". Modern Comm's maybe somewhere in between the two in my mind. There's really no right answer and this is something that while good for some wouldn't be for others.

I do believe silver has the most upside but ASE and pure bullion going that don't have to be refined maybe the best. Good Luck to all of us, maybe we can retire someday

OnlyGoldIsMoney · September 9, 2011 5:59AM

I voted yes. I am not fond of 90% silver.

Baley · September 9, 2011 6:14AM

going though 79/80 taught me I sure wouldn't want to have a bunch of 100 oz silver door stops if this thing went ballistic and then dropped very fast for the next 2 or 3 decades.

Some of us remember that previous bandwagon, and what happened when it stopped. Apparently, "this time it's different" though

funny, last time it was also "different" until it wasn't

Quartergoldeagle · September 9, 2011 9:04AM

Buy a nice Rare U.S. Gold Classic pre 33' ..... 90%silver is all over the place

gary

pursuitofliberty · September 10, 2011 12:47AM

Not today ... but given the right market circumstances ...

this ...

90% is being traded at a discount to spot, gold coin is being traded at a premium to spot. Trading 90% for gold would result in the liquidation of silver at a discount in order to buy gold at a premium - even if the market value in dollar terms were equal.

and this ...

In late April with the GSR at a lowly 31-34, the answer to this question would have been yes. In fact it was asked at that same time and most people would not
give up their silver 100 oz bars. Then ensuing drop in silver gave gold a 45% net gain in comparison over the next few weeks. With the GSR still up around 43-45 it may yet bump into 47-50. But as derryb has suggested why make that trade for such a tiny potential reward?

johnny9434 · September 10, 2011 3:11AM

if it was a good deal for me not to pass up then yes

fivecents · September 11, 2011 3:26AM

Thanks for all input and votes.

I am still on the fence as to what I am going to do. I believe the best choice would be to hold and wait for silver to rise. But darn I REALLY like gold.

mkman123 · September 11, 2011 4:56AM

I say dump 500 FV 90% and get yourself some gold that way you have both gold and silver. With the gold perhaps get a mix of bullion and pre33 numismatic that is slabbed and as close to melt as possible or slight premium.

fivecents · September 30, 2011 5:29AM

Did the trade at $39.50 silver. Traded my $1,000 bag of silver (all halves) for 15 one ounce AGEs.

pakasmom · September 30, 2011 10:00AM

<< Did the trade at $39.50 silver. >>

Good timing!

Baley · September 30, 2011 10:19AM

So, the $1000 bag of silver had 715 or 723 ounces of silver at $39.50 which was $28,242.50 or $28,558.50...

and the 15 oz. gold ($28,500/15 is $1900/coin) at spot is now $24,447.50, add maybe $100/coin premium over spot (is this in the ballpark??) and you're at about $26K

Versus the silver bag which has gone down to $21,450 or $21,690 since the trade.

Yes, good trade, almost as good as if you'd traded the bag of silver for cash

OPA · September 30, 2011 11:32AM

<< Did the trade at $39.50 silver. Traded my $1,000 bag of silver (all halves) for 15 one ounce AGEs. >>

Excellent move for the moment, but I would have done the cash deal instead. For the foreseeable future, CASH will remain KING. Lets come back in 6 month & do the recalculation based on then current prices.

CoinCoins · September 30, 2011 11:35AM

figure you traded at 45:1

it's 54:1 now

fivecents · June 24, 2012 3:21AM

<< Excellent move for the moment, but I would have done the cash deal instead. For the foreseeable future, CASH will remain KING. Lets come back in 6 month & do the recalculation based on then current prices. >>

I thought I would revisit this thread per OPAs request.

jmski52 · June 24, 2012 6:23AM

I come up with a difference of about 20% in money that you didn't lose as the prices of gold & silver dropped. Congrats!

OPA · June 24, 2012 8:08AM

<< I come up with a difference of about 20% in money that you didn't lose as the prices of gold & silver dropped. Congrats! >>

Yes...but the cash deal would have been a non looser unlike the trade deal.

mkman123 · June 24, 2012 9:16AM

great choice but none of us could have known. Could have went the other way, etc

Poll : Would you trade a $1,000 bag of 90% silver for gold? * Edited* Glad I traded at $39.50 silver

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