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View Full Version : Need Pocket change...should i sell gold silver or platinum for this?


chrisiden
12-10-2008, 01:15 PM
HI guys..
im getting a little tapped out this month with cash..
which would you sell first..and in which order..
gold.. silver or platinum..

as it goes i need to generate an extra few hundred monthly til inflation sits in.
my calculated risks were not that great.. as i bit off more than i could chew and probably got alittle greedy using credit cards to finance precious metals..
any ideas which to sell first?

yes i know.. never get in debt and dont buy what you cant afford...:o

johndaniels
12-10-2008, 01:20 PM
sell the gold; its held the best if you need money. silver and platinum you have to hold.

dacrunch
12-10-2008, 01:27 PM
Well, if we go into more deflation, and lower commodity pricing, gold would possibly be more likely to garner its place as "safe haven" (as it has during this "early drop")... and retain value better than "industrial and jewelry metals".

The ports of the US are stacked full of imported cars, with no call for them to be delivered to dealers (whether fancy or hybrids). Those catalytic converters are just sitting there, with their platinum & palladium pellets. The inference is that the manufacturing chain will grind to a halt...

But then, mining output would slow, too, with extraction costs becoming higher than metal pricing... possibly raising the values of the metals...

All guesses...

Am in the same predicament... except I have to unload most all my stacks to satisfy uncle sam's needs... since the real-estate I'd planned on selling for that purpose won't find buyers... Egad...

NolaM
12-10-2008, 01:42 PM
I would get a second job..grin..But that's not what you asked...
So...
Silver has the concentrated upside potential on the G/S ratio.
Plat has the whole long term exponential plus the extra premium/availability makes it ugly to swing in and out of...
I would have to say Gold... but keep a core holding...
Sell the ugly ones first.

JMO...Do what you gotta do.

refrep
12-10-2008, 01:44 PM
HI guys..
im getting a little tapped out this month with cash..
which would you sell first..and in which order..
gold.. silver or platinum..

as it goes i need to generate an extra few hundred monthly til inflation sits in.
my calculated risks were not that great.. as i bit off more than i could chew and probably got alittle greedy using credit cards to finance precious metals..
any ideas which to sell first?

yes i know.. never get in debt and dont buy what you cant afford...:o

GOLD. Not a question... Keep your platinum... MO

readski
12-10-2008, 01:49 PM
gold and silver are more liquid.... but I think platinum has broken the bubble and won't take off again....jmho

Awakened1
12-10-2008, 02:19 PM
Same position here..... except I am using 2.5 oz Collateral to loan myself the $ to make a couple things happen and then getting my gold back when paid off at exact cost...... always good to have family who likes gold as much as you do

billbored
12-10-2008, 02:36 PM
Stop paying the credit cards...

unalga
12-10-2008, 02:42 PM
If you HAVE to sell, gold first I think.

Plat, Pall,SLV way too cheap at this point.

My opinion for what it's worth.:)

johndaniels
12-10-2008, 05:39 PM
Stop paying the credit cards...

he has a point. once you pay 'em, they reduce your credit line! whats the point in paying cards now , anyway? i still pay over the minimum, for respects sake, but economically it doesnt make sense, especially when that money never existed in the first place. but oh well, ill keep payin as long as i can, i wouldnt go overboard with it; thats the next crash, for sure, when people have to prioritize their money.

tinhorn
12-10-2008, 09:33 PM
I was recently in the same position. I sold the gold and kept the silver and platinum. I LOVE my 90% junk, and I can't stand the thought of taking the huge hit I'd take on the platinum.

Sure as hell, as soon as I unloaded the gold, the FRN ship came in.

By the way, what will you be selling? Time for me to repurchase some junk gold or Krugerrands.

dsharp9000
12-10-2008, 10:09 PM
I was thinking of buying some platinum; but its hard to find and even if you can find it, the price is way above spot.

That should tell you something...hang on to the platinum.

Thats my opinion.