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Thread: Converting Silver to Gold Questions

  1. #11

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    Quote Originally Posted by Jamesbong View Post
    I'm heavy in silver and thinking about trading some ASE or Morgan Dollars for some 1/10 or 1/4 oz fractional gold coinage... the ratio was just 72-1, just in the last couple weeks and about 65-1 and it's a bad time with ratio over 60-1 to convert. ...So if we take a hit, I'm looking to be a little more safeguarded. Convert or not convert, and if so either Morgans or ASE's. What would be a good trade for a 1/10 or 1/4oz of gold, and go for numis in case gold takes a hit or just bullion coins.
    Is it important to do it right now? Do you think Ag will drop to $9 again, or Au will hit $2000, while Ag stays flat? Ag IS more volatile than Au and it's just emerging from the cellar. But silver hopefully will show its UPWARD volatility- THEN sell or swap for Au at much more favorable ratios.

    Selling 70 SAEs at $21 would bring over $1470. Selling 65 SAEs would still get $1365.

    In the end, I wouldn't swap at today's ratio because I believe silver is undervalued somewhat more than gold. How much? Well, it should be $21.50 minimum (52:1) plus possible premiums.

  2. #12

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    Thanks everyone for the advice, it helped me keep from getting burned by the dealers. My local guy is great to buy(usually $1 over on bullion$2 on ASE's) but terrible to sell to. He buys cheap and turns it cheap, and makes it up in volume. He and the other dealers I called offered $14 for the Morgan's. So I put a couple rolls up on Craigslist asking $17 a piece and got $16 each for the rolls. Then I took the cash and bought 2 1/10 oz AGE's for $265. Currently looking for a couple 1/4 oz. for around spot. Waiting until 30-1 GSR to convert now. I will be selling on Fleecebay soon, and by what I see I can turn silver into gold.FYI Keep an eye out for the 2008 1/10 ounce buffalos most people don't know there going for $600-800 US on the bay. Cheers
    Last edited by Jamesbong; 03-10-2010 at 12:50 AM.

  3. #13

    Default Silver ain't money?

    Just a brain fart here, but, if as the wags try to convince us, if silver isn't money and only an industrial metal, why does it track gold so closely in the ups and downs like on today's chart.



    Me thinks it's still money.....
    "You'll get nothing and like it!" -- Judge Smales, Caddyshack

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