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 Replies: 12 / Views: 1,927 |
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Pillar of the Community
Canada
838 Posts |
Poll Question
I have been meaning to devise a poll along these lines and another post reminded me of this. So here goes...
Suppose you hold 1 oz of Silver and suppose today's spot price is $30. In which scenario are you more likely to sell (and be honest):
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Pillar of the Community
Russian Federation
5175 Posts |
I probably won't be selling an ounce of silver for either $30 or $31 - not unless I'm completely broke otherwise or it's somehow a necessary condition for a decent deal elsewhere. And I doubt I could buy one as cheap as $45, either. But on-topic, if I somehow got that ounce at $15 I'm probably going to keep it for sentimental reasons (and not sell at all unless offered something ridiculous like $100+). So I'd probably rather sell the $45 ounce for $30 than the $15 ounce for $31  |
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Bedrock of the Community
13014 Posts |
If I had gotten a lot at 15 I would sell some, I would have sold that back when it was in the 40s but if I was looking to sell doubling my money sounds great to me
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Pillar of the Community
United States
979 Posts |
Selling over melt wouldn't matter in my mind, I could never sell at a loss. It would make me too sad XD
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Valued Member
United States
272 Posts |
I agree, I wouldn't sell for a loss unless I was really hurting for money. I have pre-set levels in my mind when I buy or sell.
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Pillar of the Community
 Canada
838 Posts |
So far it's 19-0 for declining the extra $1 based solely on remembering one's purchase price. I thought it would be a landslide the other way, but this illustrates why the market is so irrational!
To encourage discussion, I'm curious if the market is *this* irrational: what if you had two separate lots of junk silver, each weighing one ounce, one purchased at $15 and the other at $45. Would you care which one you sold for $30, all else equal? What if I offered you $1 more for the lot purchased at $45?
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Valued Member
United States
272 Posts |
For me, if all the silver is the same, I just average the price. If I had 3 ASEs and I paid 20 for one, 30 for another and 40 for the third, I would just consider I paid 30 each and just look to make a profit over that.
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Bedrock of the Community
13014 Posts |
Quote:
what if you had two separate lots of junk silver, each weighing one ounce, one purchased at $15 and the other at $45. Would you care which one you sold for $30, all else equal? What if I offered you $1 more for the lot purchased at $45?
If everything was the same Id take the 31. If I liked one lot more than the other Id sell the one I didnt like as much. If they were the same I actually wouldnt even have them separated into 15 and 45 dollar lot. Like mentioned I would just consider the average price but I wasnt buying at 45 anyway |
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Pillar of the Community
Canada
677 Posts |
I make sure I write down what I pay and know my average at all times. It's a good idea not to sell anything unless a decent profit can be made. Besides, I paid someone a profit to get it.
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Moderator
 United States
14463 Posts |
Guess I am the odd one out. I am not investing in precious metals, they are part of my enjoyment of collecting. So, both scenarios are equal to me.
Edited by Fuzzy317
01/29/2013 8:47 pm
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Pillar of the Community
United States
648 Posts |
My long term rule on silver is somewhat simple. Buy under $35 and sell over $35 if I only, truly, really need to after going through other liquid assets. Did I buy some in the $40's? Yup. (stopped at 41 with a handful of ozs) But with $ cost averaging, I have paid much much less and I'm still stacking (and learning) like a maniac. I remember when silver hit $26.xx - I picked up 100 random ASE's(he threw in a 96) for $30 and 75 Libertads for $29. Gold? I'm holding into those babies for a loooooong time - same goes for Silver. What I find interesting though. As much as we criticize the paper market, it does allow us common folks to capture a risk-reward opportunity to get some bullion on the cheap. If it goes lower so be it. Warren Buffett - "Be Fearful When Others Are Greedy and Greedy When Others Are Fearful" Edited by tripncoins
01/29/2013 10:42 pm
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Pillar of the Community
United States
4008 Posts |
Quote:
Guess I am the odd one out. I am not investing in precious metals, they are part of my enjoyment of collecting. So, both scenarios are equal to me. I'll join you, Fuzzy. My thought was that if I need to sell, my buying price is irrelevant. Not that I have any interest in selling at the moment. At $31.50 per ounce or below, I am a buyer. |
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Pillar of the Community
United States
2130 Posts |
I have an average price invested per oz. As long as I will make a profit I would consider selling. If I needed the money badly, then what I sell for is irrelevant.
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Replies: 12 / Views: 1,927 |
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Posted 01/29/2013 03:43 am
