18-20 oz of Silver for 1/4 ounce of Gold?

I'm going to a coin show tomorrow and I am thinking of bringing 18-20 oz of silver to try and get 1/4 oz of gold. That a good trade?

 

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Depends on what you are looking for. Just bullion or coins?

 

just a 1/4 Gold Eagle

 

20oz of silver has a melt value of $354.80 currently, if you get full melt value.
I just checked 4 different sites and the lowest I can find a 1/4 eagle for is 365.09 cash price.

 

Saw 1/4 gold ouncer for $373. I might need to throw an ounce of silver or two more to make the trade. I can probably get spot for silver or at least 90% melt.

 

If it were me, I'd look at coins vs bullion. I like the history. The sovereigns I bought today are 0.2355 oz Gold. So almost 1/4oz. And I didn't pay anywhere near even $365 a piece.

 

The silver that I am unloading is from CRH and some rounds that I don't like because they are scratched. There is a silver refinery guy that will be there that doesn't care what the bullion looks like and he will give me 90% melt. I have a Silver Canadian Maple that has a milk spot on it that I might unload too to get the extra cash necessary. I'll just unload the silver first then shop around for the gold. I kind of want a gold eagle because I would think it would be more liquid then a gold coin that is not as recognizable. I don't know a whole lot about the gold coins though.

 

Better off to trade if someone wants. Otherwise you'll get 90% of value and have to up it just to get into the gold. IMO, that's just a bad trade. You're just getting into a different metal.

Unless you really think gold will outrun silver (most think otherwise) I wouldn't.

If you're local, I'd be glad to trade. I've got a few sovereigns and 1/4 OZT sovereign style gold from various countries. I'm in Sacramento area.

 

I'm in Sac also, not to hijack this thread, I've been stacking Mexican. .900, .925, .900 and want to transition to gold...good or bad idea?

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I agree with Brett. I wouldn't lose on the trade just to get a tiny gold piece.

 

sold 14oz of silver rounds and got $17.00 per ounce. Better than I thought. The rounds were in crap condition too, scratches and fingerprints. I found a guy that will sell me a 1/4oz gold eagle for $368. Better deal than Provident. So I think I am going to pull the trigger. Just need some encouragement!

 

Do it

 

Provident's cash price is $369 right now. Not a huge difference plus you will have it in hand right away. I wouldn't buy it, but that's just me If you want it, get it.

 

I really like fractional gold. Its a bit easier to acquire than buying a whole ounce. The 1/4 gold eagles are nice. They are big enough were you can actually appreciate the design. The 1/10s are a bit small. Just be aware that they are 90% gold so the color is a bit darker vs .999 gold.

 

So I decided to pass on the Gold Eagle. With the money I got from the 14 generic silver rounds I got four Zombucks for my collection and 5 Canadian Superman coins for gifts for my nieces and nephews that love coins and super heros. I had some money left over too that I saved. I passed on the gold because I decided to wait until I could just get a 1oz Gold Buffalo when I could afford it. I have some nasty dental bills to pay but after that I will be hunting for that 1 oz Buffalo.

 

Smart move on your end I think

 

Yeah, I hadn't given my first gold purchase enough thought so I decided to wait. I made some good connections with dealers there that are local for me that have great pricing for buying and selling gold and silver. Way better then the LCS's around me.

 

What Sovereigns did you buy?

 

What is funny about this is I am doing the same thing as Bman in that I am selling off some CHR silver coins so I can buy my second gold coin.

 

https://www.cointalk.com/threads/my-first-gold.280405/