Considering A Selloff

I would hold on to it. If I saw an addict mainlining heroin to keep his body up and feeling good, I would saw he is in a POWERFUL DOWNTREND. Well our Government has been mainlining QE to do the same thing the junky is doing. I don't think it's silver that is in a down trend, but our entire financial systems stability. It just hasn't run out of its drugs yet (QE). When it does there are going to be some severe withdrawals, and realizations of the damage done while on it.

Don't feed the troll any of your PMs, Denco. Logic just doesn't compute with some creatures.

To the OP: I would say: Re-evaluate why you got into owning physical silver. Are you in a cash-bind over Xmas or have the powers that pretend to be gotten you down? Rediscover the fundamentals and then readjust your plan. You haven't told us what kind of silver you own, so maybe you have to move into a different aspect, like smaller premiums, smarter buys (like studying world silver), studying to buy jewellery (that is well-made in relation to its weight in metal and stones). There are probably avenues you haven't discovered, otherwise you would not post this to ask for our advice. If you're in dire straights, sell your stack. It's only shiny metal. And if not, the money you spent on it is only money, so calibrate what your time is actually worth in relation to a failing currency.

Ask yourself other questions: how old am I, what was my exit strategy, how many people are dependent on me, all of the usual silver stacking questions. It looks like you could be holding, or even giving your stash away for Xmas! ho-ho-ho

My first ever silver coin was a 1 troy ounce Mexican 1979 sterling "onza" from an uncle. He gave it to a bunch of cousins. I was the only one who asked him, what is this coin worth, because it doesn't say on it how many pesos or dollars, like, uncle what the iff? And he points to it, reading it, telling me it is worth exactly one ounce of silver. And I'm like HUHGHG all confused and then years later I got into it with sensibility. Never go into it with greed.

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

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.

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.

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 ;)

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