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 Replies: 25 / Views: 5,358 |
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Valued Member
United States
189 Posts |
I have recently come upon a bunch of silver. After I picked through them all for my books and collection I am still left with 400 Washingtons, 150 64' JFK's, 50 40% JFK, and 150 Roosevelt dimes. I need opinions if I should hold on to them all or if I should sell them and if sell then what is they best way to go about doing it? Thanks, Jon |
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Valued Member
United States
314 Posts |
I personally buy and hold silver. However, you will get many different opinions at the current prices. Current prices are fairly high, and it "may" be a good opportunity to sell. As far as how to sell. You can use this very forum with enough posts, ebay, or find a dealer who is fair on his spread prices. |
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Pillar of the Community
United States
1431 Posts |
Good Lord that's a ton of silver!  now I'm no market expert, but with silver approaching $40/oz, I say sell sell sell. |
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Valued Member
United States
132 Posts |
I have sold small amounts on ebay. The price is pretty good, but the downside is a total of 12% in fees that they keep out of the sale price. Also, PayPal holds onto your money for 21 days or until the buyer posts positive feedback about the sale. If I were selling, I think I would look in CraigsList or the local swap sheet for someone offering to buy at 24x face value or higher. There are other strategies about selling, such as waiting for a target price (some people say 40$/per oz.), or selling only part of the hoard, such as 1/2 or 1/4, and holding the rest to see how high the price will run. Really, I have not heard any experts predicting the price has topped out, so the smart play might be to hold on for now, unless you need some cash for a pressing reason (like TAXES! ). |
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Pillar of the Community
 United States
2448 Posts |
If you really like them, keep them. You could also do many others here have recommended; if approaching hoard status, sell them and put the proceeds in to better coins or a new collection. I'm thinking the same thing. I really like the St. Gaudens double eagle and the "5 little Indians" (You know $1, $2, $5 and, $10 Gold coins). That will take a major revision of my collection but I'm finding, as I age, my tastes change also.
However, I think that I would sell now and then wait to see if gold and silver moderate. If silver hits $40+, I'll definitely sell. The FED governors are musing about stopping Quantitative Easing early and no QE3. That will definitely affect the price of precious metals in the near future.
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Pillar of the Community
United States
3184 Posts |
wow thats a good amount of 90% silver! Maybe keep half for like an emergency and sell the rest to buy coins that you really like?
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Pillar of the Community
United States
594 Posts |
Keep 'em. Silver is still going up.
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Pillar of the Community
United States
672 Posts |
I say sell it off little by little... say 10 face a month until its gone. You'll average out the costs and if silver rockets up... you wont be out... and if it tanks... you still sold at the peak. Cost Averaging....
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Valued Member
United States
277 Posts |
Sell it to me lol, but really that is a tough question. Silver is over 37 an ounce now and that is pretty good. It just depends on what you believe, many believe you will see 70 an ounce soon some think has peaked. Me personally I think it is still going up and I have been hoarding it as well.
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Pillar of the Community
Canada
3692 Posts |
How did you "come upon" 400 washingtons left over!!?!?! In my time of collecting I don't have that many!
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Pillar of the Community
United States
3345 Posts |
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Pillar of the Community
United States
2448 Posts |
Wow the "Live Free or Die" folks are selling...Hmmm...  |
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Valued Member
United States
361 Posts |
Personally, I would hold for a little while. I am waiting for silver to hit $50. Of course nothing is certain. That is a decent amount of silver you have. I guess a lot depends on your personal situation.
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Valued Member
United States
467 Posts |
If you plan on keeping the funds in dollars, I would not sell, if you want to pay debts or move money into other tangible assets it may be a good time to sell. Me though I am not selling, we haven't even reached the mania phase of this bull run.
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Pillar of the Community
United States
958 Posts |
i'd sell, The time you mess around waiting for 50$ a ounce ... could result in a loss.. Imagine you wait till the 50 $ mark and list a 10 day auction on ebay .... alot can happen in 10days including a huge price correction in silver ...so think about that, You could also wait and silver might go cazy 50-80 range,,,, BUT DONT THINK PEOPLE WILL PAY 80$ FOR SILVER THE SILVER RUSH MIGHT CUASE PEOPLE TO STOP BUYING IF THE PRICE GETS TO HIGH AND DROPPING THE PRICE IN A BIG SELL OFF I have never had paypal keep my funds for 21 days untill a buyer post postive feedback... I have had people buy stuff paypal me and not even leavefeedback. Thats just how some people are they just buy off ebay and dont care about returning feedback to the people they purchased stuff from |
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Valued Member
United States
364 Posts |
Personally, I would sell the 40% silver and keep the rest. The 90% silver you have is a nice hoard, and it may come in handy one day. I expect appreciation primarily due to dollar weakness, inflation and the debt issues countries around the world are facing going forward.
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Replies: 25 / Views: 5,358 |
Posted 03/26/2011 1:37 pm
