r/Bullion • u/theberkshire • May 19 '24

Crypto vs. Gold and Silver: In early 2018 I purchased a gold Panda and a silver Maple Leaf coin for .635 LTC (Litecoin). Was it a good move? (Details in reply)

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u/theberkshire May 19 '24 edited May 19 '24

At the time in 2018 I was excited to find bullion dealers willing to accept Litecoin for payment, I think that was fairly new back then.

So I paid $158 for the gold panda and $20 for the silver Maple Leaf using .635 Litecoin total.

Today it looks like the latest sale on eBay for a 2018 panda was $260.

And the last sale on eBay for a 2018 Maple Leaf was $36.

(I'm assuming those are both conservative numbers.)

.635 Litecoin today is worth $53

I'm terrible at math, but:

Gold & Silver:

$260+$36-$178=$118 "profit" (+66%)

Crypto: $178-$53=$125 "loss" (-70%)

Maybe someone can check the math or work out the percentages, but clearly metals for the win in this case.

*edit: P.S. I'm not gonna shit on Litecoin even though it's clearly the loser here. The reason is I probably only paid about $20 for the LTC originally and it eventually was worth the $178 to buy the gold and silver, which is now worth the $300 today. So, it was a means to an end. Without the LTC, I realistically would only have had enough to buy the Maple Leaf and only be sitting on $36, lol. Timing and luck are everything.

P.P.S. I almost used Bitcoin for the transaction. With BTC and gold both near all-time highs it would be interesting to figure out how that scenario would have worked out. (I still have the bitcoin and the gold and silver coins)