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 Replies: 21 / Views: 3,712 |
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Pillar of the Community
United States
992 Posts |
You'll make a profit at $20 if you bought at $13 and $14, but it's going to $25. Sell your generic stuff and hang on to the better items if you feel the need to get rid of some.
No one ever went broke taking a profit.
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Pillar of the Community
United States
3843 Posts |
Unfortunately I'm kind of emotionally attached to my modest stack of bullion bars, rounds, and junk silver and really don't want to see it go. However if we get back into the 30's for silver and 1900's for gold I may consider trading some of it (maybe 20-30%) for higher-end numismatic coins that I wouldn't otherwise be able to afford. Probably would sell another 20-30% more if 50's silver was reached. The remainder I'm keeping no matter what until they plant me in the ground.
Edited by Joe2007
06/30/2016 6:40 pm
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Pillar of the Community
United States
2403 Posts |
I collect for the fun of it. Having said that, I haven't been collecting long enough to see how the rise of silver spot prices will affect the value of classic collector coins that are already selling way above spot. Will it have an affect on coins like MS Morgan dollars, or are these prices more supply and demand based? |
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Pillar of the Community
United States
7390 Posts |
Mont, the rule of thumb is that the closer to spot the premium is, the more spot price will effect it a vicea versa
Guys, we need to divorce emotions here. Stick & stay and it'll pay. Be smart about what's hapening and don't jump off the train just because it's starting to speed up! If you feel good about getting out on a measly profit go for it but you'll be more mad at yourelf if it goes to $30 then you will if it goes back to $14. That's a guarantee!
Edited by Cascade
06/30/2016 6:48 pm
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Pillar of the Community
United States
2637 Posts |
Last time I sold a couple rolls of sovereign bullion and/or commercial rounds at $25, $30, $35, $40, and $45 -- and had 2 rolls of ASEs waiting for $50. Not cleaning myself out, just locking in gains. Expect to do the same this time.
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Bedrock of the Community
Australia
21788 Posts |
No magic number.
It's just when I think I need the money to convert into something of mostly numisamtic value.
Nevertheless, current spot value has to be considered at the time of conversion.
The silver that I DO have was mostly acquired as collateral extra in job lots, not my prime reason for acquisition,
so when I sell, I consider it 'bonus' money.
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Pillar of the Community
United States
606 Posts |
I'm attached to a lot of my stuff. Some of those lil rounds have been with me for years through ups and downs. Most of my coins are mad they got put in a dark, cold safe deposit box. Others have been lost in a couch and are now stuck to popcorn kernels. Fortunately, a few have prospered once living in an APMEX cardboard box to life in capsules and display cases. |
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Pillar of the Community
United States
2403 Posts |
Quote:
Mont, the rule of thumb is that the closer to spot the premium is, the more spot price will effect it a vicea versa
That is what I figured. I knew it would affect cull coin value. |
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Pillar of the Community
 United States
2130 Posts |
By no means is any of my silver part of my future retirement portfolio. My silver money is my fun money. I have a few things I would probably never sell such as my JM kilo bar and my old pour 10 ounce engelhard bar. Also, wouldn't sell my proof ASE's from the years my kids were born. I'm attached to that kind of stuff. Generic rounds and bars that I bought only because I thought they were a good deal will be sold one day and hopefully for a decent profit. I like Joe's idea. Prioritize my silver holdings and put price points on them. |
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Pillar of the Community
Canada
3692 Posts |
Attached to bullion? That's the wrong way to do it.
Always sell your junky crap first. .999 is the way. Everything else is dead weight. Round metal eats up your safe space.
No magic hokus pokus numerology. Keep the amount you need on hand, sell the amount you don't need right away. This hoarding will make you broke.
Forget about dollar profits with these things. Look at your metal and think about what you can use it for. Hocking objects buying and selling is a monkey job, like drug dealing, it's so easy to do - where's the satisfaction? Buy it 'cause it looks amazing, fix it 'cause it's broken, sell it 'cause it's beyond repair or you have too much of it. How much is enough?
I hold the amount that I need to make my business grow. It doesn't "make" me money just by itself; it requires my interaction with the world. Dollars make people jaded; the business world is for zombies.
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Pillar of the Community
United States
7197 Posts |
In a need I did sell my 40% at $35 an ounce, but held my 90%. I would need to be in a bad situation to sell this low.
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Pillar of the Community
Canada
2495 Posts |
PMs are insurance to me.
I'd sell silver at $125.00, but unfortunately, when this happens, a loaf of bread will cost $15.00
Edited by doubleeagle59
06/30/2016 10:25 pm
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Valued Member
United States
56 Posts |
I'd be willing to part with my junk silver if spot gets over $30, and I'll be looking to trade my generic rounds and bars for gold if the GSR gets in the lower 60's. I honestly don't know what it would take to part me with a lot of it, but I have a lot of AR's to build before the next election so who knows.
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Pillar of the Community
United States
6370 Posts |
My magic number would be over $30 or so. I've been itching to sell my silver to buy stuff I want.
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Pillar of the Community
United States
2130 Posts |
I will be the first to admit that I would have never guessed silver would be flirting with $20 on July 1, 2016. You just never know and that is was makes this a fun ride!
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Replies: 21 / Views: 3,712 |
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First Page
Posted 06/30/2016 6:37 pm
