Great video. Thanks Josh. I'll have to swing by someday. I'm thinking about picking up more Gold or Silver so I'll probably pick your brain as you know way more than I do.
Great info on this video, as mostly a hobby collector, I never paid much attention to the ratios and thought it would be much harder to accomplish but it is very simple. P.S. Also helps when you have a trustworthy coin shop to go to such as my local Minot Coin and bullion shop!
Thanks 🙏 so much!! I’m drowning out here in this economy!! I don’t care what the economist say, on the ground Everything is too expensive. This will help 🤙
Very informative video and stacking content. New subscriber to your channel. Question: Where did you purchase those black gloves for handling bullions?
I'm sorry, but as a seasoned PM stacker, I have some serious issues with your video. Converting your PMs from one form to another to take advantage of the GSR isn't as easy as you're claiming. You failed to adequately discuss premiums. As you mentioned in your video, you own the coin business so you can convert without paying any premiums. However, 99.9% of the coin shops handle the conversion in two steps. You buy the customer's bullion at below market rates and then sell the other bullion with a typical spot+premium. The delta between what somebody sells one metal and buys the other can be around 15-30%. Which means that if you bought your PM at a GSR of 80to1 then it would have to rise to around 105to1 just to break even. Am I wrong?
You are not wrong. This was hopium if I have ever seen it. Sure it can be done if you own the building and are both sides of the trade. In the real world you have wholesaler and dealer premiums to consider.
I mentioned on the video that a fee would be involved in order to do a trade. It depends on the dealer what that fee will be. I do trades for customers often. I charge 3% to 5% depending on transaction size. Every dealer will handle it differently. After this video aired I had a customer trade in a 1oz American Gold Eagle for 87 oz of silver when the ratio was 87:1. It cost him $91 (5% of the $ amount of the trade) and he paid for the fee in cash. 🤷🏼
@@Silverstacker-ne4km depends on what type of silver the customer is trading for. The customer that traded in a 1oz AGE received 8x 10oz Scottsdale Stacker Premium Silver Bars and 1x 5oz and 1x 2oz Silver Scottsdale Stacker Round (87oz for a $91 (5%) fee). Had they traded for lower premium silver (rounds/generic bars), the fee would have been less. The fee I charge depends on the types of gold and silver going back and forth. As a seasoned stacker, I'm sure you understand that premiums on different gold and silver bullion items vary quite a bit. Thanks for the question!
In this trade (ex: your silver trade for 3 or 5 oz’s of gold) would you add any fractional gold, like some 1/4 oz too? Just thinking in a quick selling mode, would It would be easier to sell quarter ounce than a full ounce of gold… be it barter or just having a couple smaller oz’s In inventory) Or what’s your opinion ? Thanks
Oh trust me, you did pay for the transaction. Other than the price difference was either more for the gold and way less for the silver.( anyone who thinks that my calculations are wrong please drop me a comment and the correct answer). So you either got less gold than the silver was worth or you got less silver than the actual gold price was worth.
That is easy for a dealer. You have the contacts of who is buying. Your methodology sounds similar to [one of the largest banks]. Didn't want to mention names.
Whew! Glad it turned out to be G:S ratio video.. I came in thinking the video might involve knee's.... Jks Welcome to the community and Happy Stackin eh!
Wow that information was the best i have had in years. Thanks man 🙏
Glad it was helpful!
VERY informative! I truly appreciate how you teach us these things! Also, thank you for the book referral.
You are so welcome!
Thank you for posting.🇺🇸👍
Great video. Thanks Josh. I'll have to swing by someday. I'm thinking about picking up more Gold or Silver so I'll probably pick your brain as you know way more than I do.
Great information. Keep it up.
Great info on this video, as mostly a hobby collector, I never paid much attention to the ratios and thought it would be much harder to accomplish but it is very simple.
P.S. Also helps when you have a trustworthy coin shop to go to such as my local Minot Coin and bullion shop!
Thanks for watching!
Great information here. Thank you!!
Glad you enjoyed it!
Wish I would of had that advice 40 years ago, but there may still be time for me.
It’s never too late!
Excellent, thanks.
Such an informative video! Love your content!
Thanks 🙏 so much!! I’m drowning out here in this economy!! I don’t care what the economist say, on the ground Everything is too expensive. This will help 🤙
Very informative video and stacking content. New subscriber to your channel. Question: Where did you purchase those black gloves for handling bullions?
I bought them on Amazon.com
Wow, good play and timing
Good info!
Great information
Glad it was helpful!
It would be helpful if you gave a range as to what is a low ratio and what is a high ratio, just subscribed.
Thank you for the feedback
Well done Josh 👍
Keep it up thanks buddy
Thanks 👍
Very good video and information!
Glad you enjoyed it!
My big question to this is, what did you lose in premiums?
I think it's great that you keep most of your videos short.
Good to know!
Great content ! Thanks
Nice JOSH‼️👍🏼😎
Thanks 👍
I'm sorry, but as a seasoned PM stacker, I have some serious issues with your video. Converting your PMs from one form to another to take advantage of the GSR isn't as easy as you're claiming. You failed to adequately discuss premiums. As you mentioned in your video, you own the coin business so you can convert without paying any premiums. However, 99.9% of the coin shops handle the conversion in two steps. You buy the customer's bullion at below market rates and then sell the other bullion with a typical spot+premium. The delta between what somebody sells one metal and buys the other can be around 15-30%. Which means that if you bought your PM at a GSR of 80to1 then it would have to rise to around 105to1 just to break even. Am I wrong?
You are not wrong. This was hopium if I have ever seen it. Sure it can be done if you own the building and are both sides of the trade. In the real world you have wholesaler and dealer premiums to consider.
I mentioned on the video that a fee would be involved in order to do a trade. It depends on the dealer what that fee will be. I do trades for customers often. I charge 3% to 5% depending on transaction size. Every dealer will handle it differently. After this video aired I had a customer trade in a 1oz American Gold Eagle for 87 oz of silver when the ratio was 87:1. It cost him $91 (5% of the $ amount of the trade) and he paid for the fee in cash. 🤷🏼
@@minotcoinbullion You charged $91 to make change
@@minotcoinbullion AGEs have a very high premium. Would you do the same deal for a retail friendly generic 1oz gold bar?
@@Silverstacker-ne4km depends on what type of silver the customer is trading for. The customer that traded in a 1oz AGE received 8x 10oz Scottsdale Stacker Premium Silver Bars and 1x 5oz and 1x 2oz Silver Scottsdale Stacker Round (87oz for a $91 (5%) fee). Had they traded for lower premium silver (rounds/generic bars), the fee would have been less. The fee I charge depends on the types of gold and silver going back and forth. As a seasoned stacker, I'm sure you understand that premiums on different gold and silver bullion items vary quite a bit. Thanks for the question!
In this trade (ex: your silver trade for 3 or 5 oz’s of gold) would you add any fractional gold, like some 1/4 oz too?
Just thinking in a quick selling mode, would It would be easier to sell quarter ounce than a full ounce of gold… be it barter or just having a couple smaller oz’s In inventory) Or what’s your opinion ? Thanks
Very nice
Thanks
Cool!
I got some free silver today with my metal detector
Oh trust me, you did pay for the transaction. Other than the price difference was either more for the gold and way less for the silver.( anyone who thinks that my calculations are wrong please drop me a comment and the correct answer). So you either got less gold than the silver was worth or you got less silver than the actual gold price was worth.
That is easy for a dealer. You have the contacts of who is buying. Your methodology sounds similar to [one of the largest banks]. Didn't want to mention names.
What about premiums?
Whew! Glad it turned out to be G:S ratio video.. I came in thinking the video might involve knee's.... Jks Welcome to the community and Happy Stackin eh!
More how to, not do videos thanks