Hi Guys, I will go straight to the point. I have some gold that I am thinking of swapping for Silver. What sort of rules are there when it comes to swapping between these two metals? I am thinking of doing this as silver is starting to get cheaper. It would be great to hear what others with more experience are doing on regards to swapping. Thanks
No real rules around it mate, just make sure that both parties are happy with the trade. A lot of people will just generally sell one metal, and then buy another in fiat. Gives you a wider range to choose from.
What do you mean by 'rules'? Only rules I can think there would be is you figure out what GSR number you're happy with and swap once it reaches it. Might be a good idea to swap it for unallocated at Goldstackers or somewhere to cut down on postage cost and easier facilitation. Plenty of info and opinions in this thread http://forums.silverstackers.com/topic-30684-gsr.html and a good read about the idea of the real GSR http://forums.silverstackers.com/topic-38525-the-real-gsr.html
I see what you are saying. I was thinking of going to my local dealer and do it there. What about the actual ratio, at what sort of ratio is a good point to convert gold to silver...
The last time I did a gsr swap it was generic bars for gold coins. Ie 10 oz Perth mint bars for given year 1 oz Perth mint kangaroos. So very little premium for both parties. So we agreed to swap at the gsr of gold/silver from the charts above. It gets harder when trying to swap say bars for gold 1oz lunars like dragons. Maybe that's why some sell their metal on the free market then buy the other metal. As said by others the key is communication.
Thanks for the plug. If doing it with physical, best to find another stacker through the forum, and don't forget to take physical premiums into account - you won't get the GSR by swapping 1oz gold kangaroos for 1oz silver kookaburras.
When I said 'rules' it was a way of saying the smartest way of doing it. what rules individuals are implementing to their strategy. @Chillingdog I only have 1 oz blocks of gold and want to go for 1 kg bars or 10 oz bars, so it should be simple. Thinking of doing it through my local dear in stead of p2p and I dont really know anyone.
There you go, its a start for f2f, there is nothing beat meeting another stacker, and have a chat about metals...and coffee too!
To be honest most dealers will just treat it as a gold buy and silver sale - which means you lose the spread on the gold, and pay full spread on the silver. Heaps of Qld members on here who could probably help.
@Bloomst & Goldpelican I honestly wouldnt mind meeting someone to have a chat and also it would be a lot cheaper for both parties.
Welcome SwiftEagle. A fair swap in my opinion is a straight gold/silver ratio (like for like) A week or so ago when I had lots of 1oz gold cast bars I was happy to trade them with another stacker for 1 kilo bars at the current gold/silver ratio If anyone had 10oz silver bars to trade then I would have used a 1oz Gold Kangaroo to trade to make it a little fairer The last trade I made for silver coins was a 1oz minted bar for 50 ozs of assorted 1oz, 2oz and 5oz coins I doubt if a shop front dealer would give you such a deal so it's probably best to try and do a face to face with another member living in your town.
I can advise on how to do effective GSR swaps and also am active on both direction swaps, not just for myself but for my clients too - based north of Brisbane.
Post something in the forum saying what you are offering and say to do "face to face" VRS is prob the man to talk to or help you out best
If I were you Id go with Aurora. Im always checking his swap thread wishing I had a such and easy fair acceasible way to trade in and out of medals. Those old 1 oz pts a while back had me going. Either that or sell via ss and go with one of the onsite dealers or for sal thread.
