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 Replies: 21 / Views: 3,709 |
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Pillar of the Community
United States
2130 Posts |
I personally never thought silver would be approaching $20 this quickly. With the recent increase in price it has got me thinking of what the magic number would be that would make me decide to sell some. Most of my silver was purchased in the $13-$14 range. I hardly sold or bought any back in 2011 (I think) when the prices approached $50 and I regretted that so I want to be ready this time around if this is the beginning to a significant rise.
I guess my question is what is your magic number that would trigger you to sell? Maybe sell a little along the way up? I would never sell all but I would sell a significant amount to make some profit this time around. I have been stacking long enough now to see the rise and fall and it is important to be prepared.
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Pillar of the Community
Canada
1747 Posts |
through roll hunting I have found lots of junk silver, so I would probably sell off a portion of this, especially the 67 and 68 silver (debased) once the price goes over $21~$22
I would hope that with the increase in spot, the interest in some of my NCLT that I purchased would garner more cash, and would sell some of this as well.
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Pillar of the Community
 United States
5828 Posts |
Wow... just checked spot price and its at $18.78 now... I havent checked it in a few days, and this is like a solid $2 more then when I looked last time  |
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Rest in Peace
United States
2668 Posts |
I don't plan on selling my silver. It is a 'rainy day' investment. I hope my daughters have a knock down drag out over it.  |
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Pillar of the Community
United States
7390 Posts |
Ride the high Connor. DONT get antsy! Let price action tell you when to take profits. Let this baby ride up and if it does what we all feel is coming you'll know when to pull out when the exact opposite feeling happens by watching the price action. Just like we feel the seams about to burst now, if it does, we will then feel when it starts petering out by lower lows being tested repededly. Once the lower lows start happening then you pull out. I wouldn't sell now or anytime soon probably. This could be EPIC! Sure it could do nothing and chop around too Or even give up the gains of the past week tomorrow. Who knows. But the electricity has been in the air for a while sinse gold and silver have been in full on uptrends and brexit was the catalyst to start the journey to the moon or it seems  Be patient! Unless you absolutely need the cash that is |
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Pillar of the Community
United States
606 Posts |
I'm wth park, the physical metals is a fun hobby for me, and not a revenue source.
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Pillar of the Community
 United States
2130 Posts |
Don't really need the cash... Just don't want to miss out on an opportunity to gain some profits. Will leave the kids most of the silver that carries a premium and will only sell the generic rounds/bars and maybe some 90% hopefully when the time is right.
I just remember the last climb to $50. The rise and fall both happened pretty quick in my opinion.
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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
21786 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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Replies: 21 / Views: 3,709 |
Posted 06/30/2016 4:05 pm
