Precious Metals Forum

Go Back   Precious Metals Forum > Bunker Talk > STS

Like Tree3Likes
  • 1 Post By benjamen
  • 2 Post By mike

LinkBack Thread Tools
Old 01-09-2014, 09:34 AM   #1
Yellow Jacket
Join Date: Jun 2012
Posts: 1,511
Liked: 671 times
Does anyone "trade up"?

I only have silver (I think my wife has some gold). Here's what my LCGuy said (my wife thought it was a good idea until she saw his "terms", I personally would want a better GSR.:

Torin : Yeah, October-December is (traditionally) the leanest period of the year in this industry. January-April tend to make up for it. One of my most successful silver buyers plunks down $10-$80 (whatever he can afford after paying bills) every 2 weeks on silver. He did this for a few months and came in to trade a mound of silver for gold with NO additional cash out of pocket - and we BOTH made a profit on the deal. Win/Win is the new way to do business.

Bing : OK I mentioned this to Bing (this is Jay) and she wants to trade some silver for gold. (I've been stacking fifteen years, have a LOT of silver, no gold). How do you figure it, spot/spot?

Torin : In a situation like this, I figure the Gold Spot Ask/Silver Spot Bid ratio. At this moment it's 1:62.85. I take a 5% profit for myself, lowering the ratio to a current rate of 1:65.99. So if you wanted an ounce of gold from my case, I would ask for 65.99 ounces of silver.
Jay is offline   Reply With Quote
Old 01-09-2014, 10:38 AM   #2
Super Moderator
benjamen's Avatar
Join Date: Mar 2012
Location: Migratory
Posts: 1,620
Liked: 685 times
I have seen and/or done trades of silver for gold, gold for silver, both for firearms, one type of gold for another, ect. They are not that uncommon.

You can "profit" off the gold to silver ratio as it varies from 30:1 to 100:1, but it really depends on what is your goal? If you want to diversify, you can simply start picking up gold instead of silver for the next year or two. If you want to trade silver for gold, a dealer will want to make a profit. A better method may be to find a local person that has gold and wants silver.

Jay likes this.
I drive men mad
For love of me,
Easily beaten,
Never free.

PMBug 101 *** Forum Rules
benjamen is offline   Reply With Quote
Old 01-09-2014, 10:46 AM   #3
Yellow Jacket
Join Date: Jun 2012
Posts: 1,511
Liked: 671 times
I decided I'm just going to buy some gold. My wife wasn't real happy with the dealers "cut". Doesn't seem like much to me, though. I don't even know how he makes a living. I can always get the gold from him. He seems cheaper than most.
Jay is offline   Reply With Quote
Old 01-09-2014, 04:37 PM   #4
Ground Beetle
mike's Avatar
Join Date: Feb 2012
Location: Texan in Sweden
Posts: 549
Liked: 306 times
I thought this thread was gonna be about that show where you start with a tie, and by the end of the week, you have a Ferrari.
PMBug and Jay like this.
"The whole aim of practical politics is to keep the populace alarmed (and hence clamorous to be led to safety) by menacing it with an endless series of hobgoblins, all of them imaginary."

H. L. Mencken
mike is offline   Reply With Quote

Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On

Similar Threads
Thread Thread Starter Forum Replies Last Post
Contrary to popular perception, there is no "epidemic" of military-related suicides -- even though Penn STS 4 09-02-2013 01:43 PM
Revision Wipes Outs "Surprising" December Philly Fed Surge DSAbug Fiat Ponzi 1 01-10-2013 10:46 AM
Wipe Out Humans - Bill Gates - Vaccines are "Best Way" to Depopulate Planet Jay STS 46 12-05-2012 10:52 AM
EU VAT-rate "harmonization" is going to raise silver costs for German investors swissaustrian Silver Bug 14 10-18-2012 04:09 PM
Materion discontinuing 10 oz "stacker" bars branded by Scottsdale, Academy, et. al. PMBug Silver Bug 3 08-28-2012 12:59 PM

All times are GMT -5. The time now is 12:18 AM.

Powered by vBulletin® from Jelsoft Enterprises Ltd.
Content Relevant URLs by vBSEO 3.6.0 PL2 ©2011, Crawlability, Inc.
Content of copyright © 2011 - 2020 Measuring Up. All Rights Reserved.