Can I Receive Bitcoin When I Sell Physical Gold and Silver?
In a word, yes, you can liquidate Physical Gold and Silver into Bitcoins. The question really should be, is it a good idea to sell my Precious Metals for Bitcoin or other cryptocurrency. The answer to that question is, no.
Bitcoin and Reputable Retailers
There are Precious Metal dealers who will remunerate you in Bitcoin when you sell them your Gold or Silver. However, look to see if your regular Precious Metals retailer does. Check the top three e-retailers and the most respected coin dealer in your city to see if they will pay out a sale of Gold or Silver in Bitcoin. The chances that they would are very, very low. Bitcoin is slowly being gaining acceptance and adoption by reputable companies, and it may have a future in retail, but for now, many top companies have not yet begun dealing in Bitcoin, or any cryptocurrency, and it is wise to continue doing the serious business of Precious Metals collecting and investing only with reputable, trusted dealers and retailers with whom you have already done business or who come very highly recommended by people whose judgement you trust.
Physical Vs. Digital
Non-centralized cryptocurrencies are the exact opposite of Physical Gold and Physical Silver. It is the tangible nature of Precious Metals that draws humans to them. Precious Metals are a palpable hedge against the unknowable future. Cryptocurrencies exist only in the internet ether. Bitcoin, for example, is doing everything possible to make the digital existence of their currency a reality. The public ledger, the hard cap on available Bitcoins and the ability to trace the lineage of every Bitcoin all make them much more concrete than most other things that exist on the ‘net, but Bitcoin still represents the antithesis of what most Precious Metals investors crave—material existence.
This is not to say that Bitcoin is without its merits. There are several real-world applications for Bitcoins that suit them perfectly. However, to liquidate a concrete resource for one that is essentially ethereal seems a step backwards for our discerning clients, many of whom have worked so hard to become Precious Metals investors. Even experts remind us that Bitcoin was not meant as an investment product, and one should only own as much as one can afford to lose. If you are passionate about the concept of Bitcoin, absolutely get some, but by no means should you destabilize your Precious Metals investment to do so.