Would you sell cards to buy gold or silver coins?

homerunhitter · #1 04-11-2023, 02:41 PM

I will have to figure out how to get gold then! I was just thinking in a situation where the US dollar collapses (which I personally think it will) it would be easier to Bart (but things) with multiple silver coins vs trying to barter with one gold coin. I appreciate your thoughts on this very much.

Thank you

Peter_Spaeth · #2 04-11-2023, 02:44 PM

Quote:

Originally Posted by homerunhitter

I will have to figure out how to get gold then! I was just thinking in a situation where the US dollar collapses (which I personally think it will) it would be easier to Bart (but things) with multiple silver coins vs trying to barter with one gold coin. I appreciate your thoughts on this very much.

Thank you

We've been hearing that doomsday scenario forever. If you really believe it, spend your money stockpiling food water and guns.

bnorth · #3 04-11-2023, 02:50 PM

Ny question with gold and silver is where do you sell it? Unless you find another collector willing to pay full value isn't it a loss the second you buy it?

Peter_Spaeth · #4 04-11-2023, 02:56 PM

Quote:

Originally Posted by bnorth

Ny question with gold and silver is where do you sell it? Unless you find another collector willing to pay full value isn't it a loss the second you buy it?

:Like anything else, the idea is that it will go up over time and the gain will offset transaction costs. But there is a huge market for it, it's not hard to sell at all.

packs · #5 04-11-2023, 04:29 PM

Why do you have to sell cards to buy gold? To raise the capital or something? It�s typically best to diversify assets rather than convert one into another.

bbcard1 · #6 04-11-2023, 04:51 PM

I had a touch of the silver bug for a while. Truth is, cards or stocks would have been significantly better investments. I still buy a little silver now and again...an American Eagle with the current year date makes a wonderful baby gift. Were I to make a serious investment, I really prefer Platinum and Palladium at their current price points. Both are exceptional industrial metals and rarer than gold. It is alway important to remember that I am often wrong.

homerunhitter · #7 04-11-2023, 04:59 PM

Quote:

Originally Posted by packs

Why do you have to sell cards to buy gold? To raise the capital or something? It�s typically best to diversify assets rather than convert one into another.

For me personally, I have some cards that dont fit into my collection tastes anymore so im trying to decide , do i sell the cards i no longer need/want and buy other cards that i might need or want or do i sell cards i no longer need/want and use that money to invest in silver or gold.

Exhibitman · #8 04-11-2023, 05:10 PM

Now is probably a bad time to buy gold, unless you are a doomsday kind of guy. Per Forbes (Is Gold An Inflation Hedge? 3/10/23):

"Some studies have found that gold can be an effective inflation hedge, but only over an extremely long time horizon of more than a century.

Over shorter periods, researchers found gold’s inflation-adjusted price fluctuates dramatically. Since 1972, the ratio of gold’s price to the CPI has averaged 3.6. The current gold-to-CPI ratio is 6.4. If gold were a simple, reliable inflation hedge, its value would remain roughly constant relative to the CPI."

The price of gold has gone up much faster than the rate of inflation for some time now (up nearly 25% since October), so I would think that it is primed for a series of price drops and little if any gains over the next few years.

G1911 · #9 04-11-2023, 05:13 PM

Quote:

Originally Posted by Peter_Spaeth

We've been hearing that doomsday scenario forever. If you really believe it, spend your money stockpiling food water and guns.

+1. If one genuinely believes the currency system fails, then ammunition and non perishable food investing is the way to go.

I predict this will happen about the time that Hell freezes over.

Peter_Spaeth · #10 04-11-2023, 05:32 PM

https://www.ebay.com/itm/394491826895

58pinson · #11 04-11-2023, 05:52 PM

Quote:

Originally Posted by homerunhitter

I will have to figure out how to get gold then! I was just thinking in a situation where the US dollar collapses (which I personally think it will) it would be easier to Bart (but things) with multiple silver coins vs trying to barter with one gold coin. I appreciate your thoughts on this very much.

Thank you

Not in any way giving advice, but if you find the price of 1 oz US gold eagles beyond your comfort zone the coins are available in fractional sizes of 1/10th oz, 1/4 oz, and 1/2 oz.

You would pay a somewhat higher stepup to get the smaller coins, but it's not terrible.

I would say that if you decide to take a plunge just make sure you acquire whatever you decide on from a reputable source. The metals scene is not immune from the scams that seem to be showing up everywhere.

homerunhitter · #12 04-12-2023, 05:47 PM

after researching it, my concern is spot price for silver is currently $25, you cant find them anywhere on ebay for less than $40 and when it comes time to sell dealers are buying them for $12-15, so paying $40 for a $25 coin to just sell for $15 doesnt seem like a good investment to me!

i know it has been said that the hope is eventually the price of silver will go up enough to cover seller markups, but I dont see silver going up that much in the next few years based on the past silver prices.

if dealers buy super low so they can make a huge profit on their mark up, im wondering why it would be good to pay $40 a coin just to sell it for $15 down the road?

Econteachert205 · #13 04-12-2023, 05:56 PM

I was actually thinking of making a trade post to swap some cards for coins.

G1911 · #14 04-12-2023, 06:05 PM

A dealer of any product will pay below market, that�s how they stay in business. It usually doesn�t make sense to sell to dealers at their buy rate for anything. You sell it to another investor.

homerunhitter · #15 04-12-2023, 06:48 PM

Quote:

Originally Posted by G1911

A dealer of any product will pay below market, that�s how they stay in business. It usually doesn�t make sense to sell to dealers at their buy rate for anything. You sell it to another investor.

I totally get this and I totally understand this. but as a buyer how dos it make sense to pay $40 for a $25 coin to just sell for $15 eventually? (not trying to be smart at all, just trying to learn and understand if/does it make sense to buy for $40 and sell for $15)

Peter_Spaeth · #16 04-12-2023, 06:58 PM

Quote:

Originally Posted by homerunhitter

I totally get this and I totally understand this. but as a buyer how dos it make sense to pay $40 for a $25 coin to just sell for $15 eventually? (not trying to be smart at all, just trying to learn and understand if/does it make sense to buy for $40 and sell for $15)

People play the silver market but I think more people invest long term in gold.

G1911 · #17 04-12-2023, 07:17 PM

Quote:

Originally Posted by homerunhitter

I totally get this and I totally understand this. but as a buyer how dos it make sense to pay $40 for a $25 coin to just sell for $15 eventually? (not trying to be smart at all, just trying to learn and understand if/does it make sense to buy for $40 and sell for $15)

It doesn�t make any sense to buy at todays market rate to then sell at todays dealer buy price. For any item. At all. Why would you do that?

When you are investing in something, you are gambling that that item will go up over time. Conventionally, you are not planning to sell at below market prices either to a dealer. Don�t sell to a dealer who has to lowball you to make a profit. Don�t buy things as investments you don�t think will go up.

Your formulation here is the problem. Anything you take this approach too will result in a loss of money. Buying at todays market price and selling at todays dealer buy price guarantees a loss 100% of the time for any item.

Mark17 · #18 04-15-2023, 09:39 PM

Quote:

Originally Posted by homerunhitter

after researching it, my concern is spot price for silver is currently $25, you cant find them anywhere on ebay for less than $40 and when it comes time to sell dealers are buying them for $12-15, so paying $40 for a $25 coin to just sell for $15 doesnt seem like a good investment to me!

The spreads are not nearly that bad for bullion coins or bars. If you have American eagles or Canadian maple leafs, there is a premium for the minting costs, like maybe $100 for a gold ounce, or $3.00 for silver, when you buy them, but reputable coin dealers will buy them back for spot or pretty close. Bars have an even smaller spread (they'll cost less, but you might get a bit under spot when you sell.) I'd recommend buying and selling from the same dealer when possible.

There is no way you'll pay $40 for coins you'll sell for $15, unless spot drops 50%.

homerunhitter · #19 04-15-2023, 10:45 PM

You can�t find a 1oz American silver eagle on eBay for less than $40 and all the coin shops/dealers I called Asking hoe much they will buy them for the responses were $10-$20 so yes it is true that a coin they costs $40 on eBay, is worth $25 spot sells for $10-$15�.that�s a fact Jack!

Peter_Spaeth · #20 04-15-2023, 10:50 PM

Check Apmex buy prices.

Mark17 · #21 04-16-2023, 12:11 AM

Quote:

Originally Posted by homerunhitter

You can�t find a 1oz American silver eagle on eBay for less than $40 and all the coin shops/dealers I called Asking hoe much they will buy them for the responses were $10-$20 so yes it is true that a coin they costs $40 on eBay, is worth $25 spot sells for $10-$15�.that�s a fact Jack!

Here's a fact, Fred:

https://www.golddealer.com/product/c...ple-leaf-1-oz/

Mark17 · #22 04-16-2023, 12:18 AM

Eagles. They'll pay north of $30.00:

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