Swap Silver For Gold?

Discussion in 'Bullion Investing' started by Randy Abercrombie, Jun 23, 2019.

  1. Randy Abercrombie

    Randy Abercrombie Supporter! Supporter

    I am a coin collector first. A PM stacker second. It is a joy to me that life has made it so that I can set these things aside for my kids/grandkids. I have a number of rolls of eagles. But lord have mercy, I have stacks of numismatic dimes, quarters, halves and dollars that have reached the point of being unruly. I have two safes and the wife says no more are allowed. She has deemed me Scrooge McDuck.

    Once this recent upswing in PM’s settles, I am seriously considering liquidating a pile of this silver and replacing it with gold. Between the silver lovers and gold lovers here..... Am I doing my kids/grandkids a disservice by leaving them all with some gold rather than a lot of silver?
     
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  3. Santinidollar

    Santinidollar Supporter! Supporter

    It’s difficult to read investment markets from day to day, much less the kind of time span you describe. Personally, I think gold is better for your plan — if anything, for the space it will take to store it.
     
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  4. furryfrog02

    furryfrog02 Well-Known Member

    I love both. If I had a excess of junk silver, I'd probably liquidate some (not all) and turn it into beautiful shiny gold :p
    1878M GBSovereign.jpg 1913B Switzerland 20 Francs.jpg 1915 Austria 1 Ducat.jpg
     
  5. green18

    green18 Sweet on Commemorative Coins Supporter

    Makes it a lot easier to carry if ya gotta get out of town in a hurry.........
     
  6. Randy Abercrombie

    Randy Abercrombie Supporter! Supporter

    Too much arthritis to consider going anywhere in a hurry these days. So I would reckon that wouldn’t be a worry!
     
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  7. -jeffB

    -jeffB Greshams LEO Supporter

    It pains me to say this, as a bottom-feeder and a cheapskate, but:

    If you're looking at five figures (or even six figures) worth of silver and/or gold, you might be further ahead putting that money into one or a couple serious high-end coins. I don't mean low-MS 1909-S VDBs or 1916-D dimes; I'm talking about a big upgrade for the Bar Cent you just bought, or post-1928 St. Gaudens, or flowing-hair or small-eagle draped bust dollars, or... you get the picture. Stuff that I've spent my life ignoring, because I figured it was forever out of reach.

    Funny thing: if you're financially successful, as you get older, you occasionally notice that things "forever out of reach" have suddenly become, well, accessible. I mean, I could at this point go out and buy one of those coins myself, I guess. But fifty-odd years of habit make me recoil at the notion. "What if I need that money for something else?"

    But if you are at peace with spending nice-new-car or even new-house sums on coins -- or if you discover you've already done so, and are looking to reduce the physical volume of your collection -- it seems to me that those very-high-ticket coins have in general outperformed ordinary-level coins, and gold, and silver. They haven't outperformed Apple or Facebook, of course; on the other hand, they've outperformed eToys and Cyberian Outpost and a whole bunch of mortgage companies that went under in the Great Recession. (In other words, you can't predict the future.) And they're a lot nicer to look at or hold than a spreadsheet row reporting a brokerage balance. :rolleyes:
     
  8. Collecting Nut

    Collecting Nut Borderline Hoarder

    Why not do a bit of both?
     
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  9. mpcusa

    mpcusa "Official C.T. TROLL SWEEPER"

    You are never going to get rich on Silver, so setting your sights on Gold is a smart
    Move, i would also consider Platinum, why ? , Platinum is at one of its lowest numbers in years, it was not to long ago when it was king of the PM,S even
    Out pacing Gold, right now its only about $800 an OZ , i try and but at least
    1/4 to 1/2 OZ a week as funds allow.
     
  10. Nicole1038z

    Nicole1038z New Member

    I sold my gold to Bullion Exchanges last week because the price shoot up to the roof! I am looking to invest in more gold bars and coins since the price of gold will be very high within the next couple of months. Edited Advertising
     
    Last edited by a moderator: Jun 24, 2019
  11. -jeffB

    -jeffB Greshams LEO Supporter

    You sold all your gold last week, and now that it's higher, you're looking to buy again?

    (checks posting history)

    Oh, you're a spammer, then. Please go away.
     
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  12. -jeffB

    -jeffB Greshams LEO Supporter

    If you're never going to get rich on silver, how are you going to get rich on gold? It's a wealth preservation move, not a growth investment. Even if the dollar collapses and the price of gold goes to a million dollars an ounce, that ounce will still just buy you that good men's suit, or a month's wages, or whatever eternal comparison you prefer.
     
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  13. TheFinn

    TheFinn Well-Known Member

    Right now at 90:1, you are spending a lot of silver to get gold. This should have been done 5 years ago when it was 65:1.
    I would wait now unless you are out of room.
     
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  14. Randy Abercrombie

    Randy Abercrombie Supporter! Supporter

    I'm in no hurry at all. Much as it pains me.... I am just going to stop buying silver for a spell. Probably a good time to do that anyway.
     
  15. Randy Abercrombie

    Randy Abercrombie Supporter! Supporter

    Oh heavens.... I am not a big player at all. And I like your thought. I agree that high end investor type coins have performed well...... See, when I was younger my grandma gave me a Peace dollar and that really resonated with me. When I think of my grandma that Peace dollar is part of those warm thoughts. When I started buying silver it was based on my love of coins. Coin money is fun money. Now, my coin collection goes to my wife and I have a liquidation plan in place for her. Maybe she will buy me a nice suit to be buried in with the proceeds..... I wanted the kids to have the silver and my wife was all for it. None of my kids/grandkids would have the knowledge to properly liquidate a high end coin. And I'm not sure they would know what to do with a gold eagle either..... Maybe they will end up on that Strange Inheritance program or something. Do I sound conflicted? It is because I am.....
     
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  16. mpcusa

    mpcusa "Official C.T. TROLL SWEEPER"

    The point that i was trying to make, is there is more upside to gold over silver
    Just way more potential, i would like to think i can not only preserve wealth
    But make something out of the deal as well, and that,s a much greater
    Possibility with gold.
     
  17. Brian Calvert

    Brian Calvert Active Member

    If it were me, I would wait, love what you are doing, that is so so awesome and someday, they will understand. I think that understanding hits in 5- 10 years with reality in failed fiat currency. Reason why I decided to do bullion type of coins in place of Fiat. Non the less, hold off and wait for the ratio to at the very least catch up to the GOLD, it is ludicrous right now, go listen to the Gold silver guru Mike Maloney and his last 2 podcasts. They are very telling on why SILVER is low, how it will compensate soon enough. I cant go into all the explanations of course, but at 90% it is off.
    I would look for 70% and start trickling it into gold. Storage is a problem, good for you. I think holding too much silver could eventually be the problem. I would also guess because of the US Coins you are drawn more to silver.
    Just my opinion and best of luck
     
  18. Brian Calvert

    Brian Calvert Active Member

    I am lost on this comment, if it goes to a million dollars and that is the price of a house ? There will always be some type of FIAT. Even if the dollar collapses, which eventually 100% guaranteed it will. Something will replace it and timing is very very important.
     
  19. Brian Calvert

    Brian Calvert Active Member

    Great post and also think timing could be very important if one does so. The Billion and Millionaires compete for fine art, fine coins, etc. Why the prices shoot up. A 30K coin will grow so much more than a 3K coin
     
  20. myownprivy

    myownprivy Well-Known Member

    The transaction costs of bullion dealing make the best strategy almost always to hold. You just can't buy/sell/trade constantly and lose a bit each time on the premiums.

    When you sell or trade make sure you're 100% behind your decisions, because if you have doubts and rebuy too soon, it'll cost you.

    That's an important lesson I learned early on.
     
  21. -jeffB

    -jeffB Greshams LEO Supporter

    If gold goes from a thousand to a million dollars an ounce because of inflation, then houses will go from a few hundred thousand to a few hundred million, and cars will go from a few tens of thousands to a few tens of millions, and gas will be $3000 a gallon.

    I don't see any scenario that will cause the price of gold to skyrocket relative to the cost of everything else. There just aren't enough people who believe hard enough in its magical properties. They'd rather have food, gas, and a roof over their heads.
     
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