Silver and Gold

[tmjones550]

I have about 132.00 face value in 40% halves.I am seriously considering trading out with provident metals for a half ounce of gold and the rest for 90% halves.As always hh .Feedback wanted.Thanks.

 

[Gilmore Happy]

I am contemplating selling CRH finds as well right now...

Comes down to one simple question for me.

Can I make more money by selling my CRH finds and reinesting them in my bankroll for more finds?
Or will my .999 bullion make more money by sitting, dependant on what the market is doing.

Who knows

 

[Generic_Lad]

It really depends on what you like and how you view your CRHing. Some people believe CRHing is like investing and your goal should be to maximize your investment. Others view CRHing as a hobby and you should spend your CRHing proceeds how you like. For example, I generally spend my CRHing proceeds on coins I enjoy collecting, particularly older British coins. Still others see CRHing like a job and most of the proceeds go towards living expenses. The problem with selling 40%ers and trading up to 90%ers (and .999999) is that you have profit taken out of both sides, the dealer buying your 40%ers isn't going to pay spot and you are going to get charged a premium when you buy, how much of a premium just depends on your dealer and what you are trading for. As for gold, I can never seem to time the market right, when gold was at 1500 I bought a bit, and was going to get a bit more then it broke 1600 and I was like... Need to wait for it to come down... then it hit 1700... then 1800 then finally 1900. Personally, the next time I buy gold it would be either the older US gold (premiums are low right now) or some early British milled or hammered gold (Victoria sovereigns, gold nobles, etc.)

 

[MIhunter]

I agree that you shouldn't have all your PM eggs in one basket.
If you have mostly silver, buying gold is a good idea.
What you use to pay for the gold depends on your situation.
Do you have cash you can use like a money market account paying almost no interest?
If you are going to sell silver, where will you get the best price? Craigslist? Ebay? AMPEX? etc
If you are going to buy gold where can you buy it will the smallest premium?
If you are trading silver for gold will one merchant give you a discount to handle two transactions?

 

[tmjones550]

Well I took a leap and turned in $45.00 face in my 40%'rs and traded with Provident Metals for a quarter ounce Gold Eagle.I actually paid $45.00 for this beautiful coin.When it comes in I will post a picture.

 

[madwest]

I know I'll get a lot of disagreement on this one, but it is my prediction that gold and silver will both crash within the next 15 months. I predict silver to go below $20 and gold to go below $1000. When it does, I'll buy junk 90% silver.

If I had a compelling reason to sell right now, I would seriously consider it. However, there isn't anything pushing me to do it, so I won't.

Trading silver to gold seems like an OK move. The only hit you take is the margin difference as was mentioned. I wouldn't recommend to anyone to buy fine gold today, but trading junk silver or even scrap jewelery for fine gold does make the most sense if you want fine gold. You won't find it hunting coin rolls, so trade your least precious pieces for that fine gold!

 

[tmjones550]

I know I'll get a lot of disagreement on this one, but it is my prediction that gold and silver will both crash within the next 15 months. I predict silver to go below $20 and gold to go below $1000. When it does, I'll buy junk 90% silver.

If I had a compelling reason to sell right now, I would seriously consider it. However, there isn't anything pushing me to do it, so I won't.

Trading silver to gold seems like an OK move. The only hit you take is the margin difference as was mentioned. I wouldn't recommend to anyone to buy fine gold today, but trading junk silver or even scrap jewelery for fine gold does make the most sense if you want fine gold. You won't find it hunting coin rolls, so trade your least precious pieces for that fine gold!

Yea I have to disagree with you on both metals crashing.The government is spending is way out of control.Once China and the rest of the world lose faith in our almighty Dollar... its toast.I believe the Gold standard will come back if there is a form of government left.Gold and silver are the only true currencies.Over time when countries spend too much people flee to the safe haven of precious metals.They may drop a little here and there,but they will always perform better than the dollar which is worth less now than it was this morning.We will be using those pretty $100.00 bills for toilet paper and burning them to keep warm,thats all they will be good for.Mark my words it's only a matter of time.I hope and pray I'm wrong,I love my country and serve it daily through civil service as a Fireman,but we are close to going over the cliff with all the politicians pushing it while they all fill their pockets.

 

[SFBayArea]

Funny how Ron Paul talked about a silver dime buying a gallon of gas again on the republican debate and I looked at Kitco and silver went up from its recent lows.. LOL

 

[madwest]

Yea I have to disagree with you on both metals crashing.The government is spending is way out of control.Once China and the rest of the world lose faith in our almighty Dollar... its toast.I believe the Gold standard will come back if there is a form of government left.Gold and silver are the only true currencies.Over time when countries spend too much people flee to the safe haven of precious metals.They may drop a little here and there,but they will always perform better than the dollar which is worth less now than it was this morning.We will be using those pretty $100.00 bills for toilet paper and burning them to keep warm,thats all they will be good for.Mark my words it's only a matter of time.I hope and pray I'm wrong,I love my country and serve it daily through civil service as a Fireman,but we are close to going over the cliff with all the politicians pushing it while they all fill their pockets.

I hear ya. Spending is out of control. Debt is out of control. The dollar is in jeopardy. I agree x3.
I do believe though that there will be a sufficient recovery that will send those who have sought safe harbor in PMs to race to get out of PMs and that will result in a plummet. It's just a guess. We'll have to wait and see.

A return to gold standard would be tricky now that gold has been seized. It would have to be dolled out in exchange for severely deflated FRNs. The greedy pols who control the US gold (if it even still exists) would have a hard time giving it away in any form if it were indeed the only form of money.