Exchange Silver for Gold? My Silver Dealer tells all!
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- Опубликовано: 8 сен 2024
- Exchange silver for gold? My silver dealer tells all. A lot of people think that they can walk in to a gold and silver coin shop, hand over their silver, and receive the appropriate ratio of gold back. Is that how it works? In this video I talk with my local coin shop silver dealer, Tim, and get the skinning on playing the gold to silver ratio (GSR). Do you hope to exchange silver for gold one day? To you think that your silver dealer will give you as much gold for your silver as you expect? Will the spot price of silver matter? Will you expect to trade silver for gold directly without two transactions? And will the gold your after be available or become "unobtainium"?
Tim Marschner
The Coin and Stamp Shop
300 Granite Street
Manchester, NH 03102
(603) 624-4400
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Topics discussed: silver, gold, silver for gold, silver dealer, coin shop, GSR, silver ratio, exchange silver for gold, spot price, silver spot, trade silver, buy silver, unobtainium, hedge, debt, currency, economy, wealth, stacking silver, stacking gold, precious metals, junk silver, bullion, stack silver, stack gold, silver bullion, silver stacking, silver coins, silver eagles, gold coins, gold bullion, gold stacking, invest, investing, investing in silver, how to invest, how to invest in silver
#Silver #SilverStacking #YankeeStacking
My favorite excerpt from this entire video was the following quote: “Gold is a barter currency between nations and silver is a barter currency between individuals.” It was some thing that I had not previously considered, but is important to recognize nonetheless.
@@lamarravery4094 I would tend to agree with that.
@Avathor the only hindrance being affordability. But, I am thinking of liquidating SOME of my silver to add more gold to my portfolio.
@@partypickle3682 I know I pay the highest premium doing it, but a fair portion of my stack is 2.5g gold bars, 3.11g (1/10 oz) gold coins. And yes, I have up to 1 oz. bars and coins. But 2.5g of gold will cover my family & community (we also have farmland and steel/lead to tough it out) as good as 20 oz. of silver (got that, too). If you don't think of your community in a reset, your life & metals won't last long... I've just swapped a bunch of silver for gold. You'll see 1)deflation followed by 2)stagflation topped off with 3) depression in the 2030s. There's lots of stacking time left. But you have to stack in my book...
@@BrianHeimbuecher I don’t discount or disagree with any of what you said. My starting place just happens to be precious metals. The rest will come later when I can afford to do so.
It isn't barter, because they are money.
I’m not selling Jack. I have a pension and cash, the metals are for the possibility that those two things go belly up. If those two things don’t go belly up then my wife and children can manage the stack after I’m gone. I like the idea of becoming my own bank and protecting my hard earned money in physical gold/silver.
Do not miss platinum, the most underrated metal
Paper trading? Sure. Stacking? Nope. FYI, it has never been nor never will be a monetary metal (many reasons like it's melting temperature). Thanks for watching!
Actually Platinum will be a huge metal throughout the next nine years,we are not finished with making catalysts for oil-burning engines so you better keep that in mind. As we go to zero emissions Platinum will have way more value then silver on an industrial level, so when you speak about value silver is rarely used right now. Truthfully if God didn't say it was of value frankly it would be useless. Truly they're useless metals besides the glory behind prideful ownership. Try using gold and metal to save your life when shit hits the fan, I'm just saying.....the government will come in and take all that gold and silver from everyone and make it illegal to have it.I would think people need to hold this for short-term gains and sell when its high and use that money to buy real estate cuz the only thing worth money in the long run will be owning property.
@@Benjamin-xl6dl It's cheap on paper, but go try to buy it. You will pay high premiums if you can even find it. 🤑
@@thalarctos1900 I've great personal connection, so I can get physical near spot
We can't begrudge Tim for trying to run a business! Sounds like he keeps his margins low, and pays well to his customers. That's an A+ LCS right there! Love to see it
Exactly but so many people do. It’s a strange phenomenon. The guys running a BUSINESS, not a non profit. I’m sure his prices are still far better than the online distributors like JM Bullion, APMEX, and Provident, yet people still have a disdain for them buying at bid and selling at ask or a facsimile thereof
It’s really a head scratcher to me
Of course you can do what I do and buy from people on Craigslist if you’re patient enough to weed through the garbage scammers and whiners but if you are you’ll find you can buy it at a very small premium above spot. Selling is a little different - but I’ve been buying silver eagles at $28-31 each and 90% at 18-20x face since February regularly without much problem
@@Samscoinsandheavymetal I'd like to talk to you more about your CL strategy if you're open to it. I feel super uneasy about showing up somewhere and getting robbed, or is that not really a concern the way you do it?
There’s no replacement for experience. When k started meeting people around 2004, I would only meet during daylight and at a public spot like a Dunkin’ Donuts. After a few dozen meetings I started to get regulars
Both to sell to and buy from. And over time you start to get a feel for people . How ? By paying attention to small details like how they compose a return email to you.. are they literate do they use punctuation… etc. of course intelligent people can be crooks it’s only one thing. You need to look for red flags when you get to the point where you talk on the phone or use text message which I prefer you can see if they have an iPhone or not by whether or not you get an iMessage. Why is that important ? Most importantly because you know it’s not a burner phone
When you go to meet them you pay attention to the vehicle they arrived and if they don’t have a vehicle that itself is a red flag. You either memorize or write down the license plate. If you’re nervous about buying fake stuff or counterfeit coins then you probably shouldn’t be doing it to begin with or at the very least invest $1000 in a sigma. The list goes on but the bottom line is it’s common sense
I’ve had well over 1000 meetings and I have developed repeat clientele like antique dealers because my buy prices are just a hair better than they can get it anywhere else because my margins are small and my overhead is minimal
I also keep my word I’m always early if I tell somebody I’m going to meet them on Friday I meet them on Friday come hell or Highwater
If we agree to lock in a price we lock in a price and no matter what the spot price does in the next days between tween the meeting I honor the price whether it’s in my favor or against my favor
I always make sure I have plenty of cash hundred dollar bills I always bring more than what I’m expecting because more than 50% of the sales when I meet the person they end up having more stuff then they told me they had maybe because they are also afraid of getting robbed
I can’t tell you how many people say I’ve got $50 in face value and half dollar is how much will you pay I told him 1000 bucks when I go to meet them the meeting goes so smoothly they have $1000 bills in their pocket and they realize I’m a legit guy and they say all you know I’ve got some more but I didn’t tell you well almost every single time I’ve got way more cash on me than what I’m expecting to need because I know this happens frequently
You do not wanna let the opportunity slip past you if you tell them all I’ll meet you tomorrow or on the weekend you’ll never meet them again that stuff will be sold so fast.
Your word is gold do you need to protect your reputation and earn your reputation and then do everything you can to maintain it
If someone else blows me off changes their mind because the spot price went down or up and it will affecr their profit margin if they cancel the meeting they’re blacklisted permanently
That along tells me they are someone I don’t want anything to do with
And the list of stuff like that goes on and on and on
@@Samscoinsandheavymetal I can't think you enough for taking the time to write all of that out. I really appreciate it! I used to do something similar but with iPhones back during the days of the iPhone 5 to iPhone 6s. But people started getting robbed at gunpoint where I was living at the time in Dallas and it just became not worth it anymore. I think with something like this, the client base is entirely different so it will take some getting used to but I definitely like to get into it.
The guys who buy around me are buying at heavy discounts. I've called every single one of the dealers in my area and they're all paying about 30% below spot on any given day. I would rather pay spot price than what I'm paying right now for a lot of the stuff on a consistent basis. It just seems like the next logical step!
Far and in between !
Excellent information from Tim - 'gold is the barter currency between nations, and silver is the barter currency between individuals' Thanks Yankee!
Hey man just want to say I really like these videos when you talk to your Local dealer. It’s awesome and informative, this guy is great for taking the time to go over stuff like this. I hope he knows we appreciate good people like this!
If I bought silver at $10/oz and I’m doing a trade for gold when silver is at $28/oz, I don’t mind a little slippage in the transaction. I know the LCS has to make a little money too and I don’t mind paying the “vig” to support a local business.
Absolutely! I'd rather support a US-based shop. I don't work for free; why should my LCS? Kind of hypocritical to expect them to, no?
I spoke 2 old-timer LCS owners who were in business in 1980, 2011, and today.
When silver skyrocketed, there was plenty of gold...so not to worry about the SGR play. Understand that when people go manic about silver , that's not stackers. It's the general pop who want to cash in their mom's flatware. In 1980.... they were lining up to sell their bars and silver platters....for CASH. The coin shops were running out of cash and would be happy to swap gold instead of paying cash.
Love when the channel has this type of info over the "sponsored interviews"
I’m sticking to stacking silver. Since it is a precious metal and an industrial metal I think the value per ounce ratio is going to be much better than gold. The more electric cars and solar panels being made the more scarce silver will get.
100% agree with you!
Gold for me !!!
EV and solar market should Def. Help!! Add in more investment demand and yeah I like silver too!!
@@pauld8790 I sold my silver and hold physical gold , gold will be king
I just one both
However, Tim is really appreciated for giving the interviews.
…. A “wealth” of knowledge
Every coin shop deal with trading like that differently and people need to ask their LCS long before anything happens and assume nothing. Personally I won't be selling or trading anything, I'll just buy more gold (which is what I've been doing since January). Thanks, Yankee!
I loved my coins so much that I had a hard time parting with them for years. To do his job, you have to love the hobby, but be willing to sell them off. $1.00 profit per Silver Eagle. He sells 10 of them for $10.00 profit. Doesn't go far for rent, lights, a mortgage, food, a car and insurance. I don't know how he does it, but I'm glad folks like him exist.
One word: volume.
YS, this is a very powerful interview addressing one of the key questions most Stackers consider. I, myself, don't consider the GSR as a means to acquire Gold through a Silver to Gold swap...there's gonna be a lot of disappointed (and surprised) folks out there when "the time" comes. Thanks for this video and tell your silver dealer he is amazing!
People don't realize your a business. My parents had a small grocery/gas store in the late 60's. Made 2 cents a gallon on gas, 1 cent for a 1/2 gallon of milk. Don't know how they did it, no big profits
I grew up in a family owned grocery store in 50’s and 60’s.
12 hour days, 7 days a week.
Nobody got rich.
A person who’s content with what they have is rich!
Dollar went much much further in the 60s when it was still gold backed.
@@vemmaguy1977 bingo
@@vemmaguy1977 Yes, it did... and silver WAS money!
I traded 100 eagles for $6 over spot and picked up 110 oz of low premium silver. Grow the stack!
Smart. I've been stacking 6 years never bought an eagle yet. I want weight and as much as possible
I dont really understand the attraction to eagles ,They are not a Troy ounce and only 90% pure silver yet the premiums are more then a bland Buffalo that is a Troy oz and .999 purity
@@Pound_Shift i also keep saying alot of stackers believe we will have a monetary collapse like Venezuela. In that case more than any your gonna want weight not fancy silver coins. No one will care if it's a cool looking ounce or a bullion ounce. You will get the same food or whatever else for either. It all melts the same
@@Pound_Shift ASE are one troy ounce and .999 pure.
@@bobspizza7444 I agree.if SHTF even junk silver will be very useful.
His wholesaler screwed him out of 100 ounces. That's messed up.
I guess I missed that part. How did he do that. Sorry.... Kids are distracting. Lol.
Yes, it is messed up but one cannot sell what one cannot get. He may have had every intention of selling the full 200 ozs. Why would he not if he could? More money for him. But in this crazy market, we can't always get what we want. Things in the PM arena aren't nearly so free and easy as they were a year or two ago. Some dealers are saying that "the silver market is tight".
I'm a construction worker so gold is hard to get. I do have a little in my dad's safe. So I'm going to take some of this silver I bought at $14 and get 1 more oz of gold. But great point
Don't do it ....don't chase anything keep what you have.
I understand your position. Just ask yourself what ratio you want in current price dollars. Mine is about 60% Au to 40% Ag. A lot of people much smarter than i think silver has more upside potential over the next year. God bless!
Don’t do it!!! It’s completely backward. The ratio is insane for buying gold
@* * * * * yes I know
Get all the physical gold while you can get physical
I don’t trust that we will have the opportunity to take advantage of the GSR...So I’m just loading up on both gold and silver...and a sprinkle of platinum for good measure...but I have to say...gold is the twinkle in my eye of the precious metals...silver is a speculation that I hope pays off...platinum is a speculation as well...
Platinum is SPECULATION? Read the charts sir, Platinum has always traded above gold. Right now, some anomaly happened and it's trading under gold. I'd put more than a sprinkle in that stack brother
@@dvdm4709 well I have 20 oz of platinum...I want to get to 25...so we’ll see if I get the opportunity to get there
@@dvdm4709 yeah, bought my platinum bar way before buying my first gold coin!
Don’t forget Palladium
Agreed. My LCS/refiner has been great to me as far as the GSR. Since I strictly stack four 9s of gold and silver (and 9995 for platinum), my guy is happy to get something besides the Eagles he stocks. The platinum is almost ready to get traded... honestly, I stack for insurance against dollar devaluation. Could give a shot about green tech. And platinum will get no love in a reset. Heck, it was viewed as a nuisance by refiners until quite recently. And anyone's thinking the line 'it's rarer than gold' will matter in a reset, well, I have a bridge to sell you.
There is an old german saying: „Gold für den Grund, Silber für den Mund.“
Means Gold is for buying an acre or a house and Silver is for buying food.
The more I learn about Silver and Gold the more I learn, how different they react to the same market situation.
Long story short - if Silver skyrocketing it is mostly bad. If Gold is skyrocketing too it will be even worse.
No one should really hope for this. People fighting over food isn’t a sane scenario.
The literal translation of your old German saying is “Gold is for the ground/land and Silver is for the mouth (food).”
Or quite literally, gold is for the ground and silver is for the mouth.
The best silver stacking channel. Definitely a wealth of knowledge and appreciate Yankees love of stacking.
I second that statement. Yankee stacking channel is cream of crop. 👌
So I understand that you are a prepper also. I'd like to see some videos on how you prep for a bad scenario. Show some of the stuff that you prefer
I am. And how about I give you an entire playlist! 😂 ruclips.net/p/PLBpWNGgrbSj2fH4RLmGVkvfp2HM0TTtp1
I've used the GSR within my Gold One account and it worked out well.
I traded silver in the account for physical Gold because I was up 18.5 % on the silver at the time of the trade.
I like silver better. I have some gold but mostly silver. They are the similar in the amount available. Silver's need is so much greater. The bubble has to burst soon. 40 years ago silver hit $50. Gold was at $800. Where is the disconnect? I just keep stacking
Ok, so the only way that you're going to be able to do a conversion from Silver to Gold or vice versa is private party. I did this with someone who wanted Constitutional 90% silver, I believe I swapped some silver dimes & quarters for a quarter oz of Gold, so I didn't loose nor did he, we did a straight conversion based on spot price. Coin dealers are in business to make money.........plain and simple.
You are 100% right! I didn’t mention it in this video but I did talk about it on Silver Pros. Private party is best for this type of exchange.
Hope you had a tester on hand before the swap? Your paying a premium at a LCD for some hedge against fakes with their wealth of knowledge and access to expensive tools.
Sure private trades are always the best option for both buyer and seller as there's no dealer in between to make a living. As long as you know your stuff and is able to verify it and you're comfortable sure go ahead!
And really, IMHO, it's not that hard to verify most coins as some people make it. Dimensions, weight, magnet (tungsten is ever så slightly magnetic, suspent neodym magnet from string and don't confuse attraction and inductive resistance!) and beside there's also the resonance frequency "ping" test preferably with app confirming the right frequencies. If all pass you're good to go. But some people aren't comfortable doing the tests but really it's not that hard. Grab a known good coin and make yourself comfortable with the methods.
If the dealer is charging a $5/oz markup on silver, and a $100/oz. markup on gold, he'd be turning his $100 markup to a $340 markup by trading at the exact ratio of 68:1. That's a 240% extra markup.
@@goodmorningvenezuela6329 You need to show your work on this math problem - or you don't get credit... Just the short version, not the long one...
I just did the opposite 😅 I traded 1/3 of an ounce of gold for a tube of Eagles
He was good and the greatest
I like that idea 💡
I would have swapped for lower premium silver and got more of them....like britanias or at least maples.But yes at this GSR i would be swapping gold for silver,not the other way around given the historical GSR
That is the SMART way. Trade Gold for Silver, you will make more on it, who cares if Silver is heavier.
Why eagles. You can get more silver with bars. Isn't that the idea
Some states like Arizona, consider gold and silver real money. So it works pretty good in states that acknowledge gold and silver as real money. States that try to put heavy taxes, and discourage people from buying precious metals they also try to act like the paper dollar is the only real money.
Even though the paper dollar is the only one that's not real money.
In KY we have to pay taxes to buy it. It really sucks!
@@GunGuy258 In WA we have a sales tax but we don't pay tax on buying or selling PMs.
Paying a tax on gold and silver is pretty much equal to paying a tax for changing a $20
FRN for two $10 FRNs. Money for money should not be a taxable event. People in states
that do this need to start a political movement to get this changed. Several states have
already done this, so they can be used as models in how this can be done. It's not as if
states not now doing this have to invent the process for doing it. That already exists and
just needs to be implemented elsewhere. I'd LOVE to see more than 2/3 of all US states
do this. That would put a lot of pressure on the US Gov to stop treating PMs as collectibles
and to start treating them as money. Yes, I know. They hate doing that but so what? They
are the employees and we are the employers. Only other difference is that they tend to be
organized and we so often are not.
@@edb3877
Well they are the employers, they are the slave masters.
The US gov is, try not paying taxes, see how long far it goes. XD they have gained too much power.
I did a raito trade lastyear when we hit 63/1..I walked in the store the next day it was 65/1..I traded 67 generics for a 1oz gold maple..so my lcs added 2 generics oz..for the 1oz gold...chalk the 2oz up as a learning experience..im ok with that..
That's actually not a bad deal!!
If it is 1/10 and i get 1/15 thats fine when i bought at 1/80-90
He literally just said: "Thank you for your silver."
It feels like having a plot of the gold or silver premium makes more sense than tracking spot price. The former is closer to show the real demand (or lack of it), the latter is so manipulated and it is not clear what it shows anymore.
Agree with purpose at end of vid. Barter junk. ASE or Maps - high & fast liquidity. And Au for wealth preservation. LCDs always tell me their buy and sell price and availability without asking which I want first. In 30 seconds I can deal a deal and be there in 20 minutes if in stock or pay & wait in any form. Well aware that LCDs must keep lights on, make profit, pay rent, deal with inflation, taxes ECT. Numis are out now so I look at the dreams there now. Rarely buy but , , , Thanks again for a view from the LCD perspective. It helps us minions. understand reality.
Don't trade, just buy it all and hold
I have 2.5 grams of gold to 100 oz of silver. That's my current ratio. I am now buying 1/4oz of gold per week until I get to 1 oz gold to 100 silver. I need higher gold numbers. Hoping for 2 or 3 months to buy.
1/4 ounce per week! wow that's awesome.
Why would anyone even consider selling silver for gold? The ratio is insane. Sell gold to buy silver! That’s the only thing that makes sense
He forgot to mention this but I’m sure he meant : when the ratio increases - most people playing this strategy are looking to start progressively trading up around 40/1 or 30/1 -
Depending on the ratio is a crazy way to buy and sell gold / silver. I must consider several other metrics such as how much I have to sell and how much I want to buy, how much is available and what my purpose in doing the transactions.
Yeah but you have people that aren't to bright, that's what makes the world go around,, anyone who owns gold isn't the brightest bulb,, silver will pass gold soon, as soon as the market trades freely and the criminals are taken out
Because the person is smart
@@bobydarnell9428 thats not going to happen imo
Again another good one with Tim 👍
My LCS will do silver exchange for gold. He will pay spot for generic silver. The gold is spot plus his premium. So, I would need to add cash or use additional silver to cover premium. The only 2 issues is if he has a bunch of silver and doesn’t want more or doesn’t have any gold (that I want). He is a smaller LCS and can’t keep a ton of cash locked up in metal in case someone was shocked that an LCS wouldn’t want more silver.
Thanks yankee
Thank you! 🥈
Never need to ! Stack both physical and collect across the board 35yrs ! Gold and silver 70/30 golds way ! It changes with premiums and spot . I hold and buy don't sell ! Thank you !
Buy it and hold it 🏅 🥈 😃👋👋
I have done two trades silver --> Gold. Did not get nicked too bad on the trade. But the last one was 5 years ago and the bid-ask spreads were much lower than today.
All things are easier if you got it for the right price
Peer-to-peer trades is the way to go. No potential loss. The parties just agree on the values of the respective bullion, including premiums, and away you go. Thats why I’ve been able to trade generics at 67:1 and ASEs at 50:1. Peer-to-peer is the way to go.
I never understood the premiums silver Eagles. 1oz of ASE is still 1oz Silver of Round. People say the ASE is back by the USA. Who cares. It's silver that's why I'm buying it.
Its just more recognized and therefore slightly more liquid
@@well.thy.one. I still don't get it and won't pay the price for them.
@@coinjeremy8864 i can appreciate that. I like to have some as i could potentially see a situation where a private party wanted them specifically, or even preferred them in some kind of trade. In general im with you, get ounces, but eagles arent bad to have...certainly there were better times to be buying them then right now though, of course
They are purdy
I’m new but thinking the same... why pay more for ASE? Isn’t the point to get an ounce of silver and wait for the price to go up? I mean an ounce round will never be worth less than an ounce right?
I won't be partring with any of my hard earned silver until it hits triple digits at least.
Silver has pretty much doubled in price for some people so if people bought 10+ years back and sold their silver privately then they could have some gold without losing on their silver sale. Dealers have to make their profits obviously and it’s definitely being manipulated to keep prices down. Not by the LCS I mean. Here in England you’ve got 20% VAT on top of any purchase of silver via dealers. No VAT or CGT on gold coins if classed as legal tender. People are selling silver at £30+ an ounce. Spots £19.62 as of now.
Im keep my silver and gold. Not trading one for the other or vice versa
When the ratio was 63 to 1 last year I traded 66 oz of generics for 1 AGE... Twice 😁 You just need to negotiate.
I just can’t part with any silver or gold. I hope to be able to pass down the line.
@@debkay1160 You aren't PARTING with it, though! Gold will have a better return if the US defaults on debt. And I think there's a better chance we do vs. we don't.
@@BrianHeimbuecher Agreed. The REAL problem is not whether one is holding gold or silver but holding cash.
That is what is susceptible to problems during a real SHTF scenario and not whether one has gold or silver.
I often tell people that buying silver and gold is NOT spending money. It is merely converting soft fiat currency
into hard metallic money. At need, it can be converted the other way quite easily.
If your local dealer plays games like Tim, word is that Miles Franklin will trade you straight up. The truth is that if no currency is exchanged, there is no reason for taxes!
You know, I've wondered why buying silver or gold should be taxed. It's like giving a bank five nickels in exchange for a quarter. It's [supposed] money for [real] money. I don't think it *should* be a taxable event even with paper money.
My LCS buys for less than spot and sells for more than spot. It’s just better to sell on Ebay.
My LCS was paying $1.50.over spot for Silver rounds.
I didn't sell, I was just curious.
I seen some LCS advertising for less than spot.
Always someone trying to cheat the customers
FACTS
I haven't paid over spot for any of my silver. I refuse!!!! It is getting harder to buy right now so I'll wait for deals. There's always somebody that needs cash and they'll sell their silver... I have been buying my silver coins on online auctions, but you have to be a dealer. I didn't buy silver bars. I bought us government minted coins because I can sell them for more than regular silver coins because they're collectable & silver so I can charge an extremely high premium. I have over 100,000 minted coins & I also have bought over 100,000 1900-1950's red wheat pennies because the mint will stop making the penny this year or 2022. Right now they're selling at auction between $30-$50,000 a penny in minted condition depending on their rarity. I was smart & bought my pennies when the federal banks were selling them because acouple years ago nobody wanted them and I got them cheat. I don't buy too many silver eagles unless I can get them for under spot price which is extremely hard now. People usually lose money when they buy silver eagles because of their very high premiums that I refuse to pay for unless it's a very rare coin.
All questions I have been contemplating for months. I asked my LCS dealer the same questions for the most part. He seamed confident he'd have plenty of gold throughout a busy lower GSR phase. I didnt think he was lying but I am not so sure he will be right.
I wanted to wait till about 40 to 1 to start trading for gold, but may end up trading a bit sooner to ensure my gold can be obtained. Maybe keep the Eagles now and move out the lesser stuff(rounds,bars?) sooner for gold. Keep the junk silver for barter. Throw me some comments on this thought if you would. All advice welcome. Thanks!
Looks good to me and is my plan as well. 40:1 will be when I start swapping in increments of 10% of my silver hoard.
Other than 2011, it's been quite a while since we've had a lower than 40:1 G:S ratio.
I.....yeah, I pretty much agree with your way of thinking. Actually, I totally agree!
Calling around helps to get the value when you decide to trade. I've done it twice and I just wait patiently for each opportunity
I’m here for my 200 Eagles.
Yeah, I got your 100 Eagles...
Sounds like a dope score
It's the Jewish way of saying the price went up, it's also called, "deferment through obfuscation" to avoid accountability and responsibilities for their choices, actions, and consequences of their business acumen !
Tim is such a solid dude
I always felt you’d never find gold if silver skyrocketed. Or if you did, it would be unattainably expensive. I quit buying silver, only gold now.
Same here with the buying but for me it was that my desired silver stack was
achieved and it was time to establish my 100:1 silver to gold ounce ratio.
NO WAY I pay more than 52 Silver American Eagles for One Gold Eagle!!
Last year the Ratio of Silver to Gold was (121 Silver/1Gold) Silver for a single ounce of Gold, that was in part because Gold was at 2000.00. I bought 420 ounces of Silver for 8086.00 and it cost close to 14,000.00 today. March 4, 2020.
@@stevenosborne5117 timing's everything..
@@stevenosborne5117 ... Wow! What a great decision that was Steve. 👍
Well your math is pretty poor then, excuse my French. At a ratio of 52 the silver price would be $36.54 (1900/52 for round numbers). Since silver is NOT $36.54/oz t , but rather is $28, the break even trade is $1900/$28 or 67.85 silver eagles per gold eagle
@@stevenosborne5117 ok and in 2011 the ratio was 38.7 when silver was $49.50 and gold topped at 1920. It then sat in the doldrums for a decade
Same happened from 1980-2010 so don’t be fooled into thinking it can go nowhere but up again
The silver market on COMEX is manipulated by JP M and a small handful of others ... until that changes nothing changes
I’m just being devils advocate - not being argumentative... I have held 2000-+ oz of silver since 2009 and continue to hold more than 3000 today and 30 oz of gold so I’m as much a metals guy as anyone
But I’m just saying - tell the whole story from all angles not just the favorable side
I tried this once at my LCS. I had a tube of AGEs I wanted to swap for silver. They did not offer me an attractive deal. I ended up keeping the gold and buying silver from SDB.
Thanks for this video!! From Korea!!🇰🇷
Thanks Yankee. Great video.
You pay the premium when you sell and you pay the premium when you buy. That's just how it is. That's how the shop makes any money at all. It's CERTAINLY better than paying MONTHLY brokerage fees.
Always a Guaranteed like with Tim in the video
Gold and silver should be used for liquidity outside the banking systems. They do work in cycles so when they are high you sell. When they are low you buy. Especially silver. Don’t try to day trade it just wait for it to make its moves and be prepared to sit on
SILVER IS THE MOST UNDERRATED AND UNDERVALUED. SOUNDS LIKE THIS GUY WANTS YOU ALL TO GET OUT A BETTER ASSET
If people were smart they would be trading Gold in for Silver. I can't see why anyone would trade Silver for Gold.
It "sounds like" he was answering the question he was asked. I didn't see any malice or malintent in this discussion.
Here's the great question: 4:34 When it comes to silver eagles, US Gov't minted silver bullion ...."...am I going to lose something in those two transactions".
Simple answer: for a non-dealer, ALL, EVERY metals transaction loses money. Every time you touch metals, there are frictions of some kind. Whether it's shipping, insurance, the jiffy-pack you send it in, the dealer premium...you ALWAYS must consider that there are friction losses.
another problem is if people start all waiting for some magic number then start trying to sell at the same time, if 10 people turned up with 100s oz's each at tims door, then what would happen, even if they just wanted cash! shops will say sorry just buying gold at the moment!
In Poland there is a Value Added Tax appied to each silver product, while Gold is VAT free... So from LCS dealer perspective it's not financially viable and possilel as well. Probably you could do some deal that involves 2 transactions (selling silver + buying gold) but this is the matter of deal ....
Much better margin on silver... potentially 60+ transactions compared to 1 transaction for an ounce of gold
Exactly. The dealer makes out like a villain swapping you an ounce of gold for X ounces of silver, if dealer is using spot price but selling at like 13 dollars over spot per ounce of silver. I would never do that. You're losing way too much in the exchange to swap metals.
I am frustrated with the silver market. I only stay in as a speculative investment. But I am no longer expecting big things. We can raid em all we want. There will just be more on paper. Now gold on the other hand....I have a love affair. I would sell my silver to buy gold now. I’m not sure why I don’t.
I know how you feel! I'm thinking about at least trading one 3rd of my silver in to get some gold, just to ensure I have it in case I can't get it later. I'm just waiting for that ratio to go down at least into the high fifties or 60. Good luck!
So Tim said he had to pay $40 for Silver Eagles?? I get them right now for $33. Just ordered some last night.
How you do dat?
@@beyondthen4621 get a edumacation🤣
I really appreciate hearing Tim's viewpoint on things.
Silver will be most precious of all metals! To the firmament!
If the dealer is charging a $5/oz markup on silver, and a $100/oz. markup on gold, he should be more than willing to trade on the exact ratio. If the gold:silver ratio is 68:1, hed be turning his $100 markup to a $340 markup, and that is if it is just junk bullion rounds.... On Eagles which are fetching a $10/oz premium, he should be adding cash on top.
Its a reiteration of what I have been saying all along. Gold is a real fair market value metal. Silver is heavily manipulated. As far as my investment strategy goes, I don't want to pay for something that is Fairley priced. I want something that is a deal, something that is on sale, something I can own a larger share of the market in but still have value density. I like gold, but I don't own much of it. If I ever feel like silver is a fair market value, I may consider trading some for gold. But I personally consider the fair market value of silver between 8:1 and 4:1 with gold so not likely.
Gold is a barter currency between nations, silver is a barter currency between individuals. Remember this as I have always believed that when the SHTF you will be able to spend at a store a silver coin because of its value vs gold. I also believe that one should have at least 5% of your net worth in metals like gold and silver and it should be in a spendable value. Ie not a bar but an eagle.
I'm too busy buying to worry about selling anything.
Ha right,,, what’s selling??
Back in the day, I did the opposite! First I bought Au, but then I thought again, and converted it to Ag. IMHO
Tim my man is back 💖💖💖
Every time I hear you talk I think of Uncle Jim from haters back off!
That's my issue, losing leverage within the transaction.
The worst thing you can do is,
exchange your silver for gold.
Do not trust a PM dealers for truthful information.
They do not have your finical investments in mind.
Nah I did opposite I traded my gold for more silver ..... silver is under valued , gold is almost at its all time high and doesn’t get used up as fast as silver
If you trust quasi-digital metals, the onegold app allows you to purchase gold with your silver
That is a neat feature of the one gold app! I just took advantage of that.
Love these informational videos with Tim, thanks Yankee for sharing these with us.
I don't know how it is in the states, but in UK and Ireland, gold bullion is VAT free whereas silver is not. I still own silver just as I like to have an abundance of coins as it would be easier to trade for smaller amounts of goods, but paying 21% to the state on silver kills me.
Thank you for a great video Yankee and Tim. God Bless you!
I have traded gold for silver with my LCS. The way he does it is, he pays X amount of cash for your gold (rather gives you credit on paper for simplicity,) then you calculate how much you owe him for the silver you want. Any difference is then settled with cash. I'm sure he made a profit on both sides of the equation, but I was OK with that. Just like Tim said, it's done as two separate transactions. My hope is that silver will be so sought after for barter that gold will become available as people get anxious to get silver for daily trade. In theory it should work that way, but we'll see how it pans out.
@@drcellini3685 Get out, TROLL!!!!!
Sorry about that, Mike. 🤦🏼♂️
Great video Yankee! Although we already talked about this a couple times during our members only meeting. Still good to watch and refresh 🔧🔧
Very true, brother! Appreciate you. 👌🏼👌🏼👌🏼👌🏼
I aint swapping shit until its a fair/real market. Let them coin shops beg for our silver.
I think the best trade I had was when I took in a 5ozt America the Beautiful quarter and ask them what they would give me for it and then ask them how much this generic 10th ozt gold was and paid the difference ($40) (when Ag was 25ish and gold 1700ish) but some people do not know how to word it which is why when I do that, when I did it with platinum and when I've done it with silver, ask him how much they would pay and then ask him how much the other item is and if they would trade
I'll be driving to Manchester to Tim's shop soon, first time. Great video!
I have 3 oz of gold for every 100 ounces of silver. Right now, I am focusing on silver.
I loaded up at >100 GSR. Now I’m swapping in tranches... 80/60/50 etc... until the gold dries up anyway...
depends on demand
Wise words. Loosing during a transition is horrendous.
Good info Yankee! I have often wondered how simple a silver to gold swap would be and it makes sense that there could be some loss due to the dealers profit margin.
I have thought about exchanging a tube of ASE for Gold 🥇 always wondered how it worked.
He is absolutely right😂😂 one time I bought it gold nugget, from another dealer like this guy which was purchased 25 years ago f
and he looking his invoices & charged me only 6% over the invoice. I hit the jackpot since the nugget was about 380 g.😂😂😂😂
I live in Canada and I'd love to have a coin shop with a Tim behind the counter near my place. Unfortunately we only have a Tim Horton...
Silver Eagles going for $40oz... Gold Eagles going for roughly $2100.. Do the math..
That would mean you are trading at about 52 oz's of silver for one oz of gold. That puts the ratio in your favor if you have a GSR of 66. Where am I wrong?
@@adultingwithnudo9484 .. you're absolutely right. But at the ratio of 66/1. I will GLADLY Trade one of my Gold Eagles for 66 American Silver Eagles... ANY TAKERS?..😃
I bought my gold eagle for 2,060
60 because of a credit card fee
I’d much rather have gold & platinum over silver.
I sold 1.2 tonne of copper i saved took me 10 years now im getting gold
How much will you get for the copper? 6oz?
Just stacking what I can with out touching my emergency fund for car repairs and medical stuff. That way I don't have to raid my stack to pay for such things.
Hi Richard. I'm having to use some right now for sick cat. It sucks. I just thought maybe pawn temporarily with my silver.
@@decuevas244 Just went through the exact same thing. Fortunately my LCS is a cat lover and gave me a good price on some average circulated franklins I didn't really care for. But you gotta take care of the ones you love right?