How to trade silver for gold when the ratio gets low?

Discussion in 'General Precious Metals Discussion' started by ozziestacka, Oct 5, 2020.

  1. ozziestacka

    ozziestacka New Member

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    This is something I've wondered for a while. I hear a lot of people saying they will trade their silver for gold when the ratio goes down, but what is the best way of doing this when the time comes?
     
  2. JohnnyBravo300

    JohnnyBravo300 Well-Known Member

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    I talked to my lcs about it just recently and how I could do that.
    He still needs to make money so it will cost me a few extra ozs of silver but I'll wait until it's worth it for me.
    It will cost me around 6 to 12 percent depending on what I'm trading.
    He said I should try to get Double Eagles when I get gold if I can and I said ok, save some for me then haha.
    In reality I would take any gold he has.

    Or I could just sell silver to him and order Double Eagles. Either way.
     
  3. JohnnyBravo300

    JohnnyBravo300 Well-Known Member

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    Another question is whether to pay for the cost of the exchange in silver or fiat if I go through my lcs.
    My wife says fiat haha.
     
  4. ozziestacka

    ozziestacka New Member

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    Is there a particular ratio you are looking for?
     
  5. JohnnyBravo300

    JohnnyBravo300 Well-Known Member

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    Somewhere below 50 or less hopefully. Most of my stack was between 85 and 125:1.
    Converting is all I'm really wanting to do.
     
    Last edited: Oct 6, 2020
  6. ozziestacka

    ozziestacka New Member

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    Do you think it is worth purchasing gold right now or is just purchasing silver the best bet? I have silver but no gold, I wanted to get at least some gold just so I have it. Silver is just so tempting though.
     
  7. JohnnyBravo300

    JohnnyBravo300 Well-Known Member

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    Its personal preference really and gold is my ultimate goal for long term stability. Everyone has their own plans with their metals so theres different strategies.
    Just depends on what you want.

    Gold tends to be more stable as the main money metal but silver can often have bigger ups and downs by percentage.
    I believe silver is more undervalued so I'm mostly in silver.
    You could get many different opinions and views on this site.
     
  8. alor

    alor Well-Known Member Silver Stacker

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    getting my silver ready, opps getting other people silver ready
    so that i can get more X gold in a hurry
     
  9. 66rounds

    66rounds Well-Known Member Silver Stacker

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    What if there is no gold around when youre ready to convert? That is the entire reason I skip over silver and go straight to gold. GSR too much of a gamble for me
    Only reason to buy silver is if you want to hold it, not convert to gold
     
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  10. JohnnyBravo300

    JohnnyBravo300 Well-Known Member

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    My lcs always had gold during the runups but he was always short on silver. It sold as fast as he could buy it
    When prices skyrocket the average person goes after the silver every time. They never want gold.
    I'm hoping for the same this time!
     
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  11. alor

    alor Well-Known Member Silver Stacker

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    there would be 20 oz of gold any time out there, some times no silver at all
    with local dealers available, there are always available, only some premiums
    dealers are not on lock down, can buy online and get it delivered foc to your door
     
  12. alor

    alor Well-Known Member Silver Stacker

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    too many are after the Panda poop lol
    [​IMG] [​IMG]
     
  13. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    I don't bother with GSR, more concerned with cost of mining. At the moment, silver is well above mining cost of $12-15 per oz so I'm not that comfortable to buy in any significant amounts.
     
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  14. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    Anyone buying silver over the weekend? The rebound is pretty strong, maybe the correction is over? Will Trump concede to the Democrats on the stimulus?
     
  15. JohnnyBravo300

    JohnnyBravo300 Well-Known Member

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    I'm tapped out after last week, was my biggest buy month ever.

    There wont be any meaningful stimulus to the people, they are making sure of that. It's already 6 months too late for most of them.
    Theres a dollar printing party going on but we ain't invited
     
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  16. BiGs

    BiGs Active Member

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    My current plan is swapping over at 55-50-45 and a 4th/last time based swap for the rest provided the 45 gets hit. I would probably hedge it on the paper markets initially, depending on what the physical market is like at the time. Physically you will probably be easier selling and rebuying, you may find swap deals for GSR direct, given there is more premium on the silver side, but they would probably just be buying bulk bars at wholesale price to do the deal with you.

    Watch out for tax events and paper trails xP.
     
  17. SilverDJ

    SilverDJ Well-Known Member

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    You have an online account like the Perth Mint depository, just takes a few mouse clicks. Allocated or unallocated.
     
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