Has anybody ever got a line of credit using gold and silver coins as collateral? I don’t want to cash them out because dollars are depreciating and the coins are appreciating. All the banks I’ve talked to want me to cash out and put up a CD for collateral. :banghead
You need to find the right bank. Look for banks that deal in bullion or “round bars” (a non-mint issued coin)
Here in Canada, Scotiabank deals in precious metals in a big way. They do lend against coin and bullion portfolios. I’m not sure if they have any US presence www.scotiabank.com
Expect them to want to take the collateral into their vault.
Look for a US bank that deals in gold… they’ll lend against it.
dave