Selling PMs for expenses . . . ideas ?

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Joseph Warren
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Joined: 06/09/2013
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Selling PMs for expenses . . . ideas ?

Hi everyone. I thought I'd ask for some of your ideas on this. A retired elderly relative is faced with some substantial medical expenses. They have PMs and are forced to sell some of them within the next month or two in order to pay for these costs.  They don't like this, want to hold on to their PMs, but am forced to sell some of their holdings.  They asked me for suggestions on who to sell to and the best strategy for doing so.

One thing that came to mind was selling part of their gold and using it to buy physical silver. Then, if the PMs make a strong move this year, they may be able to see even greater upside in the silver versus the gold they were forced to sell. The current dollar value of their physical gold holdings is about twice that of their physical silver holdings.

Thanks in advance for your ideas.

boomer sooner
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Joined: 04/18/2013
Hat Tips: 5211
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Then maybe not.  Around here the gun forums are the best and most trustworthy.  I would bet that if someone tried to pull a fast one with one of the members, They all would hunt you down.  Many LEO's on those boards also.

Probably my first choice would be to talk to the local coin shops.  Smaller the better and deal with the owner.  Consignment increases the shops inventory with no out of pocket for the store owner.  Time would be an issue.  A local shop here will do this.  Just get a receipt on the items and/ or an IOU, notarized of course.

Heck, Apmex has a pretty good buy program.  A friend who owns a shop sells a ton of stuff to Apmex.

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