WWYD??
Bcookie
Posts: 57 ✭✭
I am thinking about selling my 5 1/10th oz gold pieces and buying silver with the proceeds.. from a pure "this makes the most sense" what would you do?
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I've seen on some other forums people doing this same exact thing.
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3 are AGE, 1 is a Perth Pearl Harbor, and 1 is a Maple Leaf
"This make the most sense" - is a recipe for disaster...
If you already own gold keep it or sell it for dollars don't trade one metal for another .
Why not trade them for silver on the BST?
Unless you have to sell the gold, to get funds for the silver, I would keep the gold and start buying silver. Silver is much more affordable and easier to come by, for most, than the gold.
Makes no sense to me.
Knowledge is the enemy of fear
Personally, I would keep the gold and just start buying silver.
Hold and buy Silver
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well, I listed them on ebay for $685.. I will leave them there for a few days..
Yup, and honestly, silver is much easier to sell if needed!
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Compare ebay after fees and costs to selling to a known gold coin online presence.
What I'd do is ask for more info.
Why are you looking to sell the gold?
The wife is more impressed with quantity of silver vs gold for the price..
So is "this time it's different."
But...but...what if it IS??
Here's a warning parable for coin collectors...
You both should seek some type of financial/debt counseling and or classes/seminars ASAP...
That would scare the crap out of me
Not a financial reason.
Find a beat silver eagle for her to have and hold.
Sweet!! That means more $$$ to spend on yourself at Christmas. A nice 3oz choker for her and a Remington for you.
Knowledge is the enemy of fear
I would not trade gold for silver, but I have endless amounts of the white stuff, I'm trying to add to the yellow side.
I like the advice above, never swap a metal for a metal, just add silver as you go. Silver adds up quick, where it will take a while to get your gold back.
The "quantity" novelty wears off quickly when you begin to approach 1,000 ounces. If I had to carry all my silver right now, i'd get about a mile or so down the road before dropping dead of a heart attack. If I had to carry all of my gold right now, I could do so in the front pocket of my pants......and the gold is actually worth a bit more to boot!
Hold the gold...put it on a shelf....and focus on silver from this point forward. Trading your 1/2 oz of gold for a kilo of silver right now is not a significant enough swap to worry about. Movement in the current ratio is not going to help or hurt you in any meaningful way with such a small amount of metal. Just start stacking silver until you feel the "curse of the bulk".
This idea doesn't get pointed out very often here but secret stashes of PM's are a great way to hide money from future divorce lawyers. Gold because of its high value to mass ratio is better than silver. Ask any coin dealer , most of which have been married at least half a dozen times
Hold the gold... just buy silver...and now it is cheap.... if you just buy rounds.... Cheers, RickO
I'd hold the gold and just buy more silver. Good advice here.
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