Selling PMs for expenses . . . ideas ?

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#1 Mon, Feb 15, 2016 - 9:58am
Joseph Warren
Joined: Jun 9, 2013

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.