I have been stacking silver for a few years now. With the price as low as it is, which I feel is a good time to continue to buy more, gold is also fairly low from its highs. I have been considering selling all my silver to buy gold being I feel the future of gold might be brighter. I have some gold but not a lot as I like the diversification of holding both, but gold also take up less space as well on top of its market price being at a good buy right now in my opinion. Thoughts?
With silver being down, I don't see how selling in a lower market to take advantage of gold in a lower market is advantageous. Even though I am not a gold/silver ratio fan, it is very high right now. If you still want pm exposure, I would suggest any new purchases be in gold, but keep the silver.
You are shooting yourself in the foot if you change your mind too often because you have to repay the premium on everything you've already stacked. Is the fact that silver has crashed part of the reason you want to sell it?
No the silver crash doesn't scare me. I just felt gold is pretty low from its highs that maybe it would be smart to move my silver into gold. Most likely this isn't something I would do, but was just looking for some opinions.
That is actually something I have already kind of done. I had a short term goal for ounces of silver I wanted and have hit that mark. I Have been buying more gold in the past year than silver as a whole. And these are not trmendous numbers by any means as I am not rich, but do well enough for myself where I can play in this market. Thanks your comment makes plenty of sense.
I'd do the opposite. Sell your gold and buy silver. Cash out when silver goes back to $23 then use that to buy more gold than you had before.
This is probably a more sound move. With the GSR poking 70, it would make more sense. Then if it goes back to 55, enact what you're thinking now. Just my opinion, yours and others may vary
I personally recommend that, if your stash is in bullion, you simply convert it to dates that you can enjoy building a collection around. That way, whether in silver or in gold, if you end up selling below what you paid, you will already have extracted some enjoyment from the coins you bought.
My silver includes mostly 90% junk silver for dimes, quarters and halves ranging from barbers-present. Have a good amount of 90% dollars and a few Standing Liberty coins. I only have a few strictly bullion coins and while my silver is mostly junk I kind have gone by the ways of collecting coins that were in circulation and have history. I didn't want many bullion coins or any bars at all because they are strictly bullion. My gold consist of mostly late 1800- early 1900 foreign and US with a few small bullion coins. So with that said I try to stack and pick coins I enjoy as well so it is not only an investment but a collection so to say. Thanks for your thoughts its appreciated.
I wouldn't sell off silver to buy gold. You'll never come out ahead doing that, if thats your goal. I'd take some money from your silver budget and put it into gold, so you're still buying both. Theres always been a general rule you never sell to buy up. Always sell to buy down. In other words, sell gold to buy silver, not vise-versa.
