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 Replies: 25 / Views: 2,950 |
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Pillar of the Community
1283 Posts |
I am taking a trip to Vegas soon and I will have to free up some cash. I buy quite a bit of gold and silver at my C Store in the form of scrap jewelry and 90% coinage. A couple of days a regular came in with two 1999 1 oz gold eagles. I don't really have a bunch of extra cash around right now but at $1,600 it was a no brainer. Being that I will need a few thousand in the next 90 days would you sell the AGE's or a few tubes of SAE? I know it sounds weird but I think I like silver better at $30 then I do gold at $1,680. Which to keep, which to sell? Here is a picture of the AGE's with a bunch of 2012 Maple leafs I got off of ebay. I absolutely love Maple leafs.  |
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Valued Member
United States
302 Posts |
If I were to free up cash, I would lean towards keeping the silver or at least most of it. And I would keep the most desirable gold, the Maples.
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Bedrock of the Community
United States
10982 Posts |
I'd keep 1 of the AGEs and some of the silver Maple Leafs.
I like silver at $31 too. The current 54:1 ratio could fall to 30 when our economy shows some signs of life.
JMHO.
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Valued Member
United States
52 Posts |
Flip gold fast, hold silver long. That is how I try to run my business. Seems to always work out for me. I would hold the silver and flip those goldies right away. Just my opinion.
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Pillar of the Community
United States
1064 Posts |
Agree with Bullseye, folks seem to feel flipping gold quickly is the way to go these days. I have the 1998 AGE set myself, and contemplate selling occasionally, but the price rollercoaster makes me nervous.  |
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Pillar of the Community
Canada
1502 Posts |
another vote for flipping the gold and keeping the silver. Silver might not have bottomed out yet but it's definitely at a low.
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Pillar of the Community
United States
4008 Posts |
Oh, yeah, this is in "no brainer" country for sure. Flip that gold and hold that silver. If you were into swapping gold and silver based on the G/S ratio, at nearly 54 to 1, you are into the range where selling gold to buy silver makes good sense. I saw an interesting stat the other night. It said that mine production figures show that 9.4 ozs. of silver are coming out of the ground for every oz. of gold coming out of the ground. Given that less than 10:1 ratio of silver to gold, just how long can the price of silver be held to 54 to 1 vs. gold? Seems to me that the price vs availability ratio is out of whack by nearly a factor of 6. Economics like that WILL assert itself at some point... probably when all of the short positions collapse and it is ALLOWED to do so. |
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Rest in Peace
United States
9104 Posts |
Quote:
Seems to me that the price vs availability ratio is out of whack by nearly a factor of 6. Economics like that WILL assert itself There are no "economics" involved. Every time you start thinking about a G/S ratio, remember that they are not direct substitutes. Take an economy (closed system) where you have equal amounts of gold and water, like a gallon bucket of each, in a desert. They won't have a 1/1 ratio, because you can't substitute a glass of gold when you need a glass of water. |
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Pillar of the Community
United States
4008 Posts |
Tsk, tsk... the pricing of all commodities, including gold and silver, is ALL about economics... and people DO trade one for the other all the time. Red herrings about water in the desert notwithstanding.
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Pillar of the Community
United States
2168 Posts |
I as well would keep the silver. I just think there is more upside to silver plus the disparity in the ratio
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Valued Member
United States
421 Posts |
I agree, I would keep the silver and flip the gold. I still think there's plenty of room for the silver to trend upwards, but gold swings way too much for my cares. Good luck in Vegas~!
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Pillar of the Community
United States
4989 Posts |
I would recommend the opposite flip the silver and keep the gold
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Pillar of the Community
United States
4008 Posts |
Quote:
I would recommend the opposite flip the silver and keep the gold OK, that could be just as valid as flipping the gold and keeping the silver. What would be the best reasons for doing it this way? |
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Pillar of the Community
United States
3670 Posts |
I got all my gold up on ebay, as I am 4 sells shy of power seller status, and have till December 20th to get there. I need some freed up cash to for Christmas gifts and to square a tiny bit of debt back to zero. I definitely wont sell it all, and sure don't wanna. I just wanna make sure I make those four more sales, square my bills up, and make sure everyone around me has a good Christmas.... I got some great train stock as well.... If my plan works out, I will take my tax returns with no other obligations, and make a serious PM buy to start new year.... I sold a great Bachamann set for 80 bucks today that I bought for 25, and a Lionel set for 127.50, and I bought it for 50 seems like. Also, a Cantina band star wars set sold last night which got me to 96 sales, as I am sellin a bunch of stuff from the estate sale I keep talking about for the family, all the left overs..... Oh, and sorry to steal your thread and jump tracks, but I was shocked when I called my buddy today and learned the lady who did the three family estate sells, netting 65 thousand, which 50 goes to family. Well, she is not answering the phone, and can't seem to be found or reached via phone. Curious what all you thought they should do? They have only called a lawyer thus far, which seems crazy to me, as I would have the police looking into it, esp since she has not returned many call attempts in weeks. The last sale was like the 3rd week of October.... I was calling to tell him sells had been rough, and I had only sold three sets for them so far, and he said that was the least of their worries these days, what a quagmire.... Back on subject, I like the split sale idea, keep one of the 1 oz gold rounds, and sell a portion of the silver.... Edited by Silverhawk74
12/03/2011 04:30 am
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Rest in Peace
United States
9104 Posts |
Lawyer? I'd be calling some biker in Cleveland.
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Pillar of the Community
 1283 Posts |
Silverhawk, I sent you a PM about some of your coins for sale on ebay. My dealer told me today that he would trade me 107 2011 Maple leafs for the two gold AGE but I'm just not sure. Something inside of me is saying we will see silver drop back to the upper 20's before it hits $40 again. |
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Replies: 25 / Views: 2,950 |
Posted 11/26/2011 3:52 pm
