ahsq said:
...90% halves, silver dollars, or even gold coins?
I am curious if anyone here has this weird habit of mine?
I was thinking about doing that with my 49 40%'ers to something that worths more, and then call CRH quits.
(I still enjoy the hobby but I make more with my stock hobby(just made a 1/4oz gold coin worth of trading) ...
HH to all!!
Much silver to you!
ps. If you do so, how do you trade/exchange yours?
Coin shops/dealers will almost always trade, and from what I've learned on this forum, you're most likely to get your best deal at a coin show. However, you're likely going to take a hit on both ends. Just like an automobile dealership, coin dealers are looking to make money on both ends. They'll want full retail for their stuff (usually a bit over spot), while giving you less than spot (sometimes significantly less) for your trade-in. Generally speaking, you'll come out money ahead on both ends by selling your 40% outright, and paying cash for whatever you wish to upgrade to. You'll usually save money on both ends by getting a better price for your 40%, and if you're paying cash for the 90%, .999, gold, or whatever you're upgrading to, you can almost always negotiate a better deal than "sticker" price. Also, generally speaking, the bigger quantity you're dealing with (buying or selling) the better price you'll get.
This of course will require more time and trouble on your part. Only you can decide if the time and trouble is worth the money you save - or more accurately the additional amount of silver/gold you're able to upgrade to. Its awfully convenient to walk in with 40% and walk out with what you want, but you will most likely pay for that convenience. However, not all dealers are the same, so its worth checking out. I remember one poster on this forum that apparently found a dealer that was very bullish on silver and traded silver for gold at nearly an even swap. Thats almost unheard of, but it can happen.
Some people have the opinion that since they obtained their silver at face value, they're still getting a good deal when they trade/sell at a price significantly below spot. While I respect their opinion, and understand what they're saying, I disagree. Take this example: right now I am just itching to buy a new ZR-1 Corvette. Which is true - I totalled my Z06 a few years ago and haven't replaced it. For the example, assume I hit the yard sale lotto and bought a Van Gogh painting worth $1 million for $5. A new ZR-1 lists for ~$125,000. Say the car dealer offers to swap me even for my painting. Technically speaking, I could make the deal and drive off in my much wanted car and have a whole $5 invested - which sounds great. However, by going through a little more time and trouble, I could sell my painting, still get my car, and have a pocket full of cash as well. Thats a ridiculous example, but you get my point.
Bottom line is thats its your silver and your decision. If you're happy with the deal, regardless of whatever it is, then its a good deal. Hope this helps.
Hope it wasn't too bad!
