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Posted
On 4/10/2025 at 10:00 PM, Superhero said:

My average cost on remaining silver is $29.50

My average on gold was about $1,620/oz. Mostly maples and sovereigns with a few bars in there. I freaking love sovereigns!

 

 

 

 

My first bought silver was high (about 36) but almost all of it since has been mid-20s. Complicated by selling a chunk years ago, rebuying it, selling again yadda yadda. All I know is I never sold it for less than I paid, though of course, breaking even after a couple of years is selling at a loss.

The gold was probably 1600 average, with buys in the 1400 to 1800 range. $1600 is my "mental" gold price. Kinda doubt we'll ever see that again.

Had a laugh this weekend at an art show, some of my best sellers were small sketches I knocked out maybe a year ago planning to use their sale to get an ounce of gold at maybe $2000. I got a heap more drawin to do.

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Posted

My metals investments are limited to two American Eagle 1 oz. gold coins bought at a pawnshop in Dothan, AL in the early 2000s.  Paid $400 for one and $420 for the other one, for an average cost of $410 per oz.  If it cracks $4,000 per coin, I might look at selling.

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Posted

Like “free” rescue dogs from the pound, free inherited jewelry from Grandma can wind up being costly.
This antique 100+ year old platinum-mounted ring Mrs. Brat was gifted from her grandmother as a child became one of her favorites, which upon reaching adulthood she wore daily on her right hand up until about 25 years ago.
The mount had developed a couple of problems such as a missing “link” or two from around the edge, and the finger “loop” had split. 
So off to our local longtime mom & pop jewelry shop for repair.
Two weeks and $647 later we picked it up today. Looks like the old man did a proper job, I guess, but at least he shined it up nicely.
Hopefully Granddaughter will wear it someday when Grandma gifts it to her. 
 If not, perhaps one of the grandsons will have an appreciative spouse who will like to have it.

 

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Posted
4 hours ago, Armybrat said:

Like “free” rescue dogs from the pound, free inherited jewelry from Grandma can wind up being costly.
This antique 100+ year old platinum-mounted ring Mrs. Brat was gifted from her grandmother as a child became one of her favorites, which upon reaching adulthood she wore daily on her right hand up until about 25 years ago.
The mount had developed a couple of problems such as a missing “link” or two from around the edge, and the finger “loop” had split. 
So off to our local longtime mom & pop jewelry shop for repair.
Two weeks and $647 later we picked it up today. Looks like the old man did a proper job, I guess, but at least he shined it up nicely.
Hopefully Granddaughter will wear it someday when Grandma gifts it to her. 
 If not, perhaps one of the grandsons will have an appreciative spouse who will like to have it.

 

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Beautiful ring. I’m sure your granddaughter will be honored and wear that with pride.

Posted (edited)
On 4/10/2025 at 1:53 PM, Superhero said:

An oz of gold now buys you 101 oz of silver.

 

It was 88 when when I exchanged silver for gold last January.

I'm still sitting on 240 oz of silver that I want to exchange for gold. I know the ratio sucks right now, but should I just bite the bullet and do it? 

 

On 4/10/2025 at 10:00 PM, Superhero said:

My average cost on remaining silver is $29.50

My average on gold was about $1,620/oz. Mostly maples and sovereigns with a few bars in there. I freaking love sovereigns!

 

 

 

 

We have 378 ounces and we’d like it in gold too, but I think gold has taken off and until it settles down some I feel like the ship has sailed. I think $35-38 is the target for year end so it’s not like silver will be a bad investment. But damn it’s a PIT mass wise.  We aren’t sure what we are going to do, for now keep it all. But honestly the cost of carry for physical metals makes zero sense (even if you store yourself the sales discount) unless you love it as a hobby or believe the risk of an apocalypse is more than theoretical. Since we inherited it we will enjoy the novelty and the feeling of security of the tangible stuff. And in that regard silver is going to be an easier currency to use. 

but that’s not your question instead how we are thinking. We should cashed out sub $3000 and bought into gold. We didn’t. I think gold is much more likely to run up in value. I do also think it will  come back down and if you buy too high you can be stuck for a decade at that high price. The chart shows it.

Edited by troph
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Posted
22 hours ago, troph said:

 

We have 378 ounces and we’d like it in gold too, but I think gold has taken off and until it settles down some I feel like the ship has sailed. I think $35-38 is the target for year end so it’s not like silver will be a bad investment. But damn it’s a PIT mass wise.  We aren’t sure what we are going to do, for now keep it all. But honestly the cost of carry for physical metals makes zero sense (even if you store yourself the sales discount) unless you love it as a hobby or believe the risk of an apocalypse is more than theoretical. Since we inherited it we will enjoy the novelty and the feeling of security of the tangible stuff. And in that regard silver is going to be an easier currency to use. 

but that’s not your question instead how we are thinking. We should cashed out sub $3000 and bought into gold. We didn’t. I think gold is much more likely to run up in value. I do also think it will  come back down and if you buy too high you can be stuck for a decade at that high price. The chart shows it.


I thought the purpose of PMs is to have some wealth when the dollar hyper inflates, so I don’t track my cost basis, only the mass and current spot price to know how much of my portfolio it represents. Still, it’s difficult to buy gold at the current price and silver seems like a much better value. 

  • 2 weeks later...
Posted (edited)

SIAP, but anyone else buy silver from Costco? Good, bad, what are your thoughts? I bought these simply because I found it fucking surreal one could buy silver bars one aisle over from frozen foods.

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Edited by Hamttx
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Posted
On 5/12/2025 at 2:43 AM, Hamttx said:

SIAP, but anyone else buy silver from Costco? Good, bad, what are your thoughts? I bought these simply because I found it fucking surreal one could buy silver bars one aisle over from frozen foods.

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I doubt I'll do it anytime soon. Nothing against Costco, but to go there I'd also go near several coin shops with decent prices and lots more choices.

I do like that bar design though. 

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Posted

My $100/mo silver buillof plan delivered the 100th buffalo. I bumped it to $125/mo, given current elevated prices. I bought a nice little plastic container that holds 5 tubes. If the silver:gold ratio gets back down to ~80 I'll swap some out.

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Posted
On 5/15/2025 at 9:21 PM, CleverNickname said:

My $100/mo silver buillof plan delivered the 100th buffalo. I bumped it to $125/mo, given current elevated prices. I bought a nice little plastic container that holds 5 tubes. If the silver:gold ratio gets back down to ~80 I'll swap some out.

Is this an auto buy? What vendor? 

Posted
8 hours ago, B00M said:

Is this an auto buy? What vendor? 

moneymetals.com 

I'm sure their are plenty of similar providers. I picked them because they had options for low dollar baller cheapskates like me. I do silver buffaloes. 

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Posted

When I bought gold/silver, there was always a premium for coins/bullion above spot price, usually $0.50 - $3 depending on what it is. Silver Eagles and Libertads had the highest premiums.

 

When selling, is there an expectation of getting spot + some type of premium? At spot? Or are some items selling below spot? I ask because when I traded silver for gold at a local shop last year, they bought the buffaloes for spot - $1 and Eagles at spot. I thought it was pretty shitty, but they lowered their premium on gold Maples to $40 (going rate for Maples is $100 over spot) which I thought was fair.

Any thought on selling it to some of the online PM companies like APMEX vs at a local store?

Posted
16 hours ago, Superhero said:

When I bought gold/silver, there was always a premium for coins/bullion above spot price, usually $0.50 - $3 depending on what it is. Silver Eagles and Libertads had the highest premiums.

 

When selling, is there an expectation of getting spot + some type of premium? At spot? Or are some items selling below spot? I ask because when I traded silver for gold at a local shop last year, they bought the buffaloes for spot - $1 and Eagles at spot. I thought it was pretty shitty, but they lowered their premium on gold Maples to $40 (going rate for Maples is $100 over spot) which I thought was fair.

Any thought on selling it to some of the online PM companies like APMEX vs at a local store?

Libertads have gone through the roof on premiums. I used to get them for the same premiums as ASEs and silver Maples, but no more.

The prices you quote seem middle of the road, they were cool to lower the rate on the gold. Last time I sold silver I got about a dollar under spot for a lot of generic at the guy with the best prices in town. I see on the second-best-prices guy's website today that he's offering a dollar over spot for uncirc. silver Eagles, no info on others.

But that's today. Back when you sold, he might have been the same as the guys you sold to.

I wouldn't send metal through the mail to Apmex if I had local places to sell to. Not that I don't trust them, just that it'd be more work. Maybe I'd do it if I didn't want local riffraff to spot me walking into a brick and mortar shop with a box, then leaving without it.

Posted
On 5/20/2025 at 9:35 AM, RDCanecutter said:

Libertads have gone through the roof on premiums. I used to get them for the same premiums as ASEs and silver Maples, but no more.

You weren't joking. $9 premium for a Libertad. $6 on Eagles and Maples and $4 for buffaloes. The world has gone crazy.

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Posted

Hypothetically, what does selling gold look like?  Like if someone had some American eagle gold coins, and wanted to convert say 10 of them to cash to finish paying off a mortgage, how would they go about it in a safe and tax-friendly way?

Posted
36 minutes ago, Goredho said:

Hypothetically, what does selling gold look like?  Like if someone had some American eagle gold coins, and wanted to convert say 10 of them to cash to finish paying off a mortgage, how would they go about it in a safe and tax-friendly way?

Call every coin shop within a comfortable drive, go to the one that offers the best price. Transaction should take about 5 minutes, cash or check. Others will be more versed in capital gains taxes. I think some states might be about to do away with it on precious metals, I'd ask the dealer.

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Posted

@Goredho just checked American Gold Eagle buy-back at a dealer who's kind of middle of the road. About 80 under spot. I saw similar at another one when gold first went over $2,000. Used to be an AGE would never sell for under spot, but used to be the numbers didn't shoot up like now.

The best guy here for selling would probably be $50 better per coin, but you have to call him on a phone, and talk, like it's 1952.

This is the variation where I live. Who knows, maybe you can find somebody who has a buyer on the other line, and you can do better.

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Posted

I’ve got about 200 ounces of silver left. I’ve sold a lot of it and traded in for gold when it was around $2,900 an ounce. I’ll probably just keep it all now and just hold it. No reason to liquidate.

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