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 Replies: 17 / Views: 6,319 |
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Valued Member
United States
170 Posts |
Hi,
The sad thing is that this topic has come up for the past two years!
Should one sell while the price is high or hold off on the chance that so many silver coins are being sold off for melt that at some time or another the lower grade coins one holds will be worth more in collecting value then silver value in years to come?
I have a lot of Canadian coins along with US and other foreign coins that I wonder about. Am I losing out in a sellers market by not unloading them at the current silver spot?
This may be a minor consideration to a lot of people but involves a few thousands of dollars to me.
Thanks for the opinions!
Glen
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Pillar of the Community
United States
3345 Posts |
You should definitely sell your silver. If you make money now, and silver goes down,you breath a sigh of relief  If silver goes up, well, at least you made money. Personally I don't think enough people will sell their silver to make the collectible value go up enough. It will take a lot more time before the collectible value is proportionally equal/higher than the price of silver right now. You may find that silver goes up a few bucks, maybe hits $40, but I dont think it will go up too much more. Hope it helps.  |
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Pillar of the Community
2224 Posts |
I ask myself that same question everyday. Still don't have a definative answer. Depends on what you got it for, collecting, investment, a little of each.....
I've got rolls of ASEs I might part with if the price was right. I just don't think it is quite right, yet, and keep my personal collection of one each of 69s and 70s. My Morgans will always stay with me.
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Pillar of the Community
United States
1388 Posts |
I don't know from a dealer's perspective, but the way I look at it is that I am getting better dates for less money...
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Valued Member
United States
314 Posts |
Yes you should sell your silver. To me, for cheap!
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Pillar of the Community
United States
3184 Posts |
I think of my metals as a savings account...I only sell when I need the money.
If you don't need the money, why sell?
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Bedrock of the Community
Australia
21788 Posts |
As they say in cricket: 'It is better to have the runs on the board'.
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Rest in Peace
United States
9104 Posts |
Common coins will be common coins forever. The gubmint melted hundreds of millions of silver dollars, and it still didn't make them rare enough to carry a numismatic premium.
Look at all the stuff that got scrapped in 1980. People (including dealers) hung on to some coins for 25 years, only to be rewarded by having money tied up in inventory that slowly fell to 15% of what they could have gotten for scrap.
When silver certificates were redeemed in 1968, a $1 got as high as $2.25. Again, people saw that rise, which was only because the value of silver from redemption rose, and figured if they saved theirs, they'd be worth a lot to collectors. Ok, it's been 43 years (three generations), and consider yourself lucky if you can get $1.50 at retail. So you lost 1/3, not to mention what you could have earned, even in bank interest, in 43 years.
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Valued Member
Canada
272 Posts |
I sold all of my silver coins a couple of months ago but hung onto the better grades, it left alot of holes in my albums but I made a killing.
Now I am using the money to buy all of the better grades that I need,
my problem is finding those better grades they seem to be few and far between and those that are selling them are asking rediculous prices for them.
My advice is to hang onto your silver unless they are really messed up then go looking for a better grade and gradually change out the bad for the good.
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Pillar of the Community
 United States
2448 Posts |
There's nothing wrong with taking profits! Be sure you have the will to use that money as you intend.
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Valued Member
 United States
170 Posts |
Well....I guess I'll just keep muddling through this. I can understand the thoughts behind the conflicting advise and agree with them both. I believe I'll end up somewhere in the middle; cull out and sell the absolutly worse coins and retain the rest of them.
Thanks again
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Pillar of the Community
United States
3592 Posts |
My thoughts are...go with your gut !
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Moderator
 United States
16679 Posts |
I'm holding off. I see it going higher. Look at our Geo-political world arena.
swcoin.ecrater.com
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Pillar of the Community
Canada
617 Posts |
I think you should at least take this opportunity to sell any scrap silver you may have.
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Pillar of the Community
United States
3294 Posts |
I have sold all of my Roosevelt dimes, and most of my JFK 90% silver and worn Washington silver and used the funds to get nicer coins, barbers and seated. |
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Valued Member
Canada
268 Posts |
A couple of years ago I traded my silver hoard for a Roman Imperial collection. That was my time to move.
My current position would be to sit unless you need the cash. The global economy has a way to go before bottom. Just ask Portugal. Gold and silver still have plenty of room as well as other commodities. Nothing like something solid when the economy is still in the toilet. 30 Million US unemployed and another 3 million in Canada can't be wrong.
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Replies: 17 / Views: 6,319 |
Posted 03/25/2011 10:48 pm
