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CoinHunter53562
1000+ Penny Miser Member
USA
1805 Posts |
Posted - 04/29/2008 : 07:35:23
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quote:
I am not buying gold, I am holding what I already have. If you have silver, now is an excellent time to swap it for gold. You will get one oz gold for about 53 oz silver and when the ratio goes up you can swap back for a nice profit. You just have to get used to counting your profit in ounces, not dollars.
So just to be clear, you are saying it is a wise move to trade 53 ounces of silver for 1 ounce of gold, and then when the ratio hits 100:1 swap back out. So then you would get 100 ounces of silver for the 1 ounce of gold right? I want to make sure I am understanding what you are saying.
Also, where do you trade silver for gold? I am sure you can do it anywhere, but what I am asking is where can you do it without taking a hit below spot on the silver you want to trade for gold? It would seem like one would have to trade an extra ounce or two of silver to get one ounce of gold. |
My hobby: collecting real money 1 copper cent or nickel at a time.
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deleted
86 Posts |
 Posted - 04/29/2008 : 13:04:49
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quote:
Originally posted by starwarsgeek171
My thoughts:
1. Silver will NEVER go to $0 (industrial demand, jewelry, and smart people), so...
2. The floor, even in a case of global depression would be $4-5 because...
3. I'd sell everything I own to buy silver at $4-5, and...
4. Every government, financial institution and silver consumer would hoard at those levels, but
5. The US WILL pull out of this recession within 3 years causing...
6. A renewed faith in the dollar,
7. A return of the Bubble Economy,
8. Global growth on a scale never before imagined (built on false credit), and thus
9. An ever increasing demand for silver to the $34 level (there is some truth to the hype)!
10. WTSHTF?
Pretty much agreeable on that one. Exception of #8 that limited commodities will put a damper on this. Observe how the U.S dollar is currently flexing it's flab-crap. Putting this in an analogical prospective, the dollar is like this modified Ford Pinto going around kicking butt, but it's only going be once getting rear-ended, causing it's own complete annihilation (foreigners selling em' off).
We wise as we age giving us a better understanding we're not wise. |
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Saul Mine
Penny Collector Member
USA
343 Posts |
Posted - 05/03/2008 : 05:59:16
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quote:
Originally posted by CoinHunter53562
quote:
I am not buying gold, I am holding what I already have. If you have silver, now is an excellent time to swap it for gold. You will get one oz gold for about 53 oz silver and when the ratio goes up you can swap back for a nice profit. You just have to get used to counting your profit in ounces, not dollars.
So just to be clear, you are saying it is a wise move to trade 53 ounces of silver for 1 ounce of gold, and then when the ratio hits 100:1 swap back out. So then you would get 100 ounces of silver for the 1 ounce of gold right? I want to make sure I am understanding what you are saying.
Also, where do you trade silver for gold? I am sure you can do it anywhere, but what I am asking is where can you do it without taking a hit below spot on the silver you want to trade for gold? It would seem like one would have to trade an extra ounce or two of silver to get one ounce of gold.
I swap with my usual PM broker. He is aware of the method but not excited. (It definitely is a boring plan.) Franklin Sanders at You must be logged in to see this link. features this method, but don't follow his advice. DYODD (Do Your Own Due Diligence) Of course you can sell anywhere and buy anywhere. I did my most recent swap of about 8 grand on Ebay! And yes, there is always a commission. Figure it in.
BTW, if you can sell on Ebay you can still get a rather high price for your silver, and gold is selling at or below spot. So your ratio there could be down around 40 to 47. When I sold in March I got 45:1, fees, shipping, and all. |
A penny sorted is a penny earned!
Please use tinyurl.com to post links. Long links make posts hard to read. |
Edited by - Saul Mine on 05/03/2008 06:06:50 |
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starwarsgeek171
Penny Hoarding Member
USA
651 Posts |
Posted - 05/03/2008 : 06:32:20
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| What about your dealers take? He's not just going to sit there and let you trade your way to a fortune without wetting his beak. Do you keep records? |
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grrrrr Silver down almost a buck already this week
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