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Valued Member
 United States
223 Posts |
To clarify a couple of things. The silver that I own is mostly numismatic at this point or stuff you don't see every single day. Bullion is mostly comprised of Kooks, Pandas, Canadian wildlife and a few other 1oz ASE/ML thrown in. Also there are 5oz pucks and some other odds and ends. Most of a set of modern commems, all but two prestige sets, a considerable number of canadian dollars and sets. Then there are all the mint sets back into the 50s. Then there are the MS60+ sets of Franklins, War Mercs, Silver Roosies and some other assorted partial sets.
The other interests comes in the way of firearms. I also consider these to be a future investment. The majority of the money would go to paying off some incurred medical bills from a knee operation that I had over the summer. It would set the house finances back on track and quit having to allocate income to paying off various medial bills
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Bedrock of the Community
13014 Posts |
Quote:
The other interests comes in the way of firearms. I also consider these to be a future investment. The majority of the money would go to paying off some incurred medical bills from a knee operation that I had over the summer. It would set the house finances back on track and quit having to allocate income to paying off various medial bills I would definitely sell what you need to to accomplish that starting with the cheap stuff first and working your way up the ladder until you dont need to sell anything else. Debt and bills will cost you more in the long run. |
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Pillar of the Community
United States
2130 Posts |
I picked sell due to the fact that you said it could be put to good use. I'm thinking to pay bills/cc etc.. If I needed to sell I would of started w/ the generic bullion also.
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Valued Member
United States
380 Posts |
chris12018 I agree. If there are any debts with interest you can pay off, do that first. Other than that hold it until its profitable for you to let go.
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Pillar of the Community
United States
5830 Posts |
In such a case I would also agree to sell to pay off debt first, once you finished paying off your debt, you can always buy again.
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Pillar of the Community
United States
979 Posts |
http://www.kitco.com/charts/techcharts_silver.htmlThe green line shows the SMA 200, which shows the downtrend. However, it's impossible to know if it has already bottomed out. It could go a bit lower, maybe teens, but then again, maybe it's on it's way back up? Anyone who says they know is wrong. Not that they will BE wrong, but they cannot know for a fact where it will go next. Otherwise, if they had THAT kind of info, warren buffet would be a pauper in comparison to the wealth that individual would amass. Look at the 5 year on that link. There was a SHARP uptrend in 2010 that started suddenly falling, without tapering off . Anyone who gives reason for this simply has 20/20 hindsight. If you knew it was coming, why aren't you rich? So right now we are in a bottoming out downtrend that looks like it has real potential to go EITHER way. If that sharp uptrend can change with a breeze, this tapering off downtrend can go anywhere. Remember, if you need the money, you can't eat silver (please don't try), silver in a vault doesn't pay rent, and silver doesn't keep the lights on. Make good life decisions, not just PM decisions. :)
Edited by Broseph
10/24/2013 5:07 pm
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Pillar of the Community
United States
1454 Posts |
My position has always been to hold... which, I guess if I'm being honest, probably cost me at least 10 grand during the 2011 run-up when the smart players knew when to cash in. The funny thing is, I remember shortly after silver started coming down and hit a furrow in the mid to upper $30's, I asked the members whether they thought it would be a good idea to sell off my generic silver holdings on ebay (and my more mundane bullion), which I'd purchased when silver was still in the teens, since it would have allowed me to concentrate on Numis, my real love. The near universal response was that I would be better off waiting for silver to recover a little before doing anything as drastic as liquidating 400-500 ozs. of Ag just because of a little hiccup on the road to $75+ silver, which it would almost assuredly reach anon. The members were wrong, of course, but I didn't mind keeping my middling hoard since they were essentially telling me what I wanted to hear anyway. I admit I had also, briefly, dreamed of triple digit silver in the next few years, as so many of the "experts" were predicting. But it sounds like you're feeling strongly about the downtrend. If you're correct, even your Numis will take a hit and could be had at a lower price point, depending on the kind of deal that netted you the coins in the first place. Nevertheless, selling something you love- assuming that's the case here- is a very personal decision with much to factor in. I'd hold unless I was absolutely certain I could repurchase the Numis later on and come out ahead. Hope that helps, but after re-reading what I wrote, I can't see how it would ;) |
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Pillar of the Community
United States
3789 Posts |
i LOVE this forum, I love the people here even if they dont like what I say or dont like me. But it suffers from one thing- confirmation bias. That is, this is a coin form, a PM forum. Therefore, the vast majority will be in favor of PMs not matter what, even when the facts state otherwise, IE that gold and silver are in downtrends.
I am more than happy and willing to be on the other side of this forum and only because I trade for a living. It is not wise to hold something because other say so, if the price action is telling you otherwise, take price action over the opinions of others who, even tho they mean well.,
in this case members here are strongly biased and heavily favor owning and buying gold and silver no matter what. However, this is case where following the crowd isn't smart and wise. IF you have profits still, take them.
You can always buy when prices finally show us where they are going, even if that means buying higher from here.
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Bedrock of the Community
13014 Posts |
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If you're correct, even your Numis will take a hit and could be had at a lower price point Thats possible, though its also possible that more focus gets turned to numismatic items instead of bullion giving the numis a price boost. Then again itll probably depend on how common the numis stuff is. Itll be interesting to see that play out |
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Pillar of the Community
United States
648 Posts |
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yup7676 - I LOVE this forum, I love the people here even if they dont like what I say or dont like me I don't think it's a matter of liking you or not. I think it's a matter of you talking too much sometimes and shoving your facts/opinions/proxies/etc on a thread/forum/community about technical analysis over and over and over. I can point you to about 100 stock forums, technical forums, chat rooms, thinkorswim who would love to talk about GLD and SLV all day. I'm a fan of technicals, but I don't vomit it all day on the forums about it. Yes this thread has been informative, and hell, I've saved a lot of $ watching the markets, listening to your advice, but at the same time, the banter/negativity/and dumping of your downtrend attitude just gets old. Even on other posts for folks who already know how you feel about gold and silver. To the OP: Do whatever you gotta do to survive - sell if you really need to and take care of #1. Just my humble thoughts. Edited by tripncoins
10/24/2013 11:12 pm
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Pillar of the Community
United States
1454 Posts |
Gotta agree with Trip. Yup just never bothered to learn how to be polite, humble, magnanimous, or respectful of posters he disagrees with. Even when you're right and the other member is obviously wrong, there are ways to get one's point across without being condescending, antagonizing, or hurtful. I like his advice and respect his knowledge of price movements and all, and am even glad he takes the time to post, but Yup as a real human being... From the way he acts on here and the good people he seems to alienate, I'm just as happy not knowing him.
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Pillar of the Community
United States
1200 Posts |
Trip and Traevin -- Total agreement with both of you. This is a PM forum -- not a trading or investment forum. Hearing PM's put down with uninterrupted negativity for months on
end does get very old. I also participate in a bicycling and archery forums. They're pleasantly different because nobody there is talking archery or bicycling down all the time.
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Bedrock of the Community
United States
36745 Posts |
Trip, Traevin, Fat Freddy I agree with you guys and the others that get tired of Yup's "trading" views. Kitco is a great place for him to go and join in with the other "trend" guys.
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Pillar of the Community
United States
2543 Posts |
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Kitco is a great place for him to go and join in with the other "trend" guys. He can't , Kitco and Yahoo Finance's pm page is where he cuts 'n pastes all his " extensive " knowledge from.  I just want know how a guy with 1250 posts and such an extensive collection of world gold and silver proofs and Somalian Elephants, has never shown off even one coin, or posted even one acquisition photo. He even started a whole new thread on how great looking and mesmirising his new reverse proof buffalo was. Still not one photo. Whaddup dude, be proud, do you even own any coins. Or do you just like hanging with us and calling us stupid  To the OP, my Dad always said " you can never put a price on piece of mind " Edited by denco7
10/27/2013 12:53 pm
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Pillar of the Community
United States
5830 Posts |
I know for sure he has a lot of electronic paper metals. I think!  Yup! Collectors in this forum like to share with others most of the time what they had acquired, and to help each other out whether is authentication, grading practices, etc... That's why I like to listen what other opinions and thoughts are.  And not reading day to day high high, low low high low, low high...there are so many Pro's having different perspectives, that's their job, and buyers beware. |
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Posted 10/23/2013 5:06 pm
