| Author |
 Replies: 26 / Views: 2,221 |
|
Pillar of the Community
United States
880 Posts |
That nexst week silver hits $100oz. How would you then liquidate your silver? Whats the absolute quickest way to move it?
|
|
|
|
Pillar of the Community
United States
3670 Posts |
At 100 an oz. I would have no problem turning it all loose on ebay, an taking my loses to pay-pal, ebay, an shipping as I did get in early enough to turn a decent profit at 100 an oz.. I got in way late, but started with 11 free oz. so that counters like say another 11 oz. I have bought in the 35 to 40 an oz. range. I would say 40 dollars is a real nice average get in price for me per oz., but I have also added some great higher premium items like Lunar coins, graded ASE an Britannia's, an paid as much as 90 bucks for the dragon lunar coin.... I was at 76 oz., but was coming up a bit short a week back on a bill, so I sold 6 of my least sought after rounds (three 2 oz. close to spot rounds), and would have broke even as silver was around same price, but I took about a 30 dollar lose to ebay, pay pal, shipping, and it was worth it as I turned it back into money fast when I needed it. But in the end it was a lesson learned why silver is so high on ebay. I will price well higher in the future if I need to sell any, and if it moves fine, if not I will figure something else out, as opposed to taking a lose, an losing silver that may be worth 100 an oz. sooner than most think.... Sorry for the rant, but I figured that little live you learn personal experience may help you out. Now I am back on the buying train, as I am sitting on 70 oz. an would love to get to at least a hundred before Christmas, and would have already passed it if I had not added 40 grams of gold.... Good luck, an take care.... Edited by Silverhawk74
08/10/2011 12:56 pm
|
|
Pillar of the Community
United States
830 Posts |
I think I'd sell mine to APMEX if I was to sell physical quickly that is. I'd probably hold physical and sell paper PMs. Or don't forget you can hedge silver (physical or paper) on the downside by buying puts in SLV.  Nice to dream about that move, but I'm not counting on it. And for that to happen would probably mean there was a serious SHTF event.  Edited by GoThunder
08/10/2011 1:30 pm
|
|
Valued Member
Canada
442 Posts |
Liquidate? Thats Heresay!! :P
If anything, I would swap my 90%'s and some generics for gold. My end goal is to accumulate as much gold as possible. And Spend it when needed. silver is just another vehicle to get my gold with.
If you're looking for cash, probably the fastest and easiest is a LCS. If you're not in a rush, kijiji or craigslist for a bit of a better return, but more work.
|
|
Pillar of the Community
United States
830 Posts |
What is LCS?  |
|
Pillar of the Community
United States
1450 Posts |
|
|
Pillar of the Community
United States
830 Posts |
Oh...thanks APMEX used to be my LCS. Edited by GoThunder
08/10/2011 1:35 pm
|
|
Pillar of the Community
 United States
880 Posts |
If only my LCS was worth going to. It might be worth making a drive to one not so local though...
|
|
Pillar of the Community
 United States
5953 Posts |
Living near Houston has its advantages there is strong competition amongst the bullion dealers and they will cut you a deal pretty close to melt if you have large quantities to sell. Most of the time these days they turn it around the same day for between $1 and $2 over melt...
|
|
Moderator
 United States
189603 Posts |
Quote:
That nexst week silver hits $100oz. How would you then liquidate your silver? Whats the absolute quickest way to move it? If everyone is thinking the same as you, it won't stay at $100 long.  |
|
Pillar of the Community
United States
667 Posts |
$100 would tempt me to sell 1/2 of my silver stock. I might even be tempted to blow some on a new jeep wrangler unlimited and then look to invest or speculate some more.
I mean you have to have some fun too.
|
|
Pillar of the Community
United States
880 Posts |
You're right it wouldn't stay there long :). It would at least take a short dip. I would actually hope it stuck around $98 an oz for a day or so.
|
|
Pillar of the Community
United States
931 Posts |
I would hold it if silver hit $100. By that time gold might be so high that most people can't or won't buy it, so I would assume a continued climb in silver.
|
|
Valued Member
United States
302 Posts |
The psychological resistance at $100 is so great that I would expect a severe pullback there. I would start dumping around the $90 area with the intention of buying it back in the high 60s after a severe pullback.
The psychological support after hitting $100 would be $50, so, the severe pullback could be an even better place to buy than the high 60s target. However, no one can sell at the high nor buy at the low unless he is lucky. You can have the top $10 and the bottom $15 while I take the $25 in the middle.
As to where, I would use CL until prices got over $95. At that point I would go to a major dealer and dump the rest before people realized the prices had topped out.
Edited by mmerlinn
08/14/2011 3:11 pm
|
|
Pillar of the Community
United States
4008 Posts |
In that event, I would look at my silver in three different ways.
1st up would be the stuff that I am not really attached to, so selling it would not be difficult. Local coin shops would likely buy it.
2nd would be my SIVR silver ETF. Half a dozen mouse clicks and it is sold.
3rd would be my core holdings. Not gonna sell that. It is my SHTF insurance policy and short of that, I'm keeping it.
|
|
Pillar of the Community
United States
2120 Posts |
I think the thing to remember is,
If it hit $100/oz that fast.. who would buy it from you?
|
| |
Replies: 26 / Views: 2,221 |
Posted 08/10/2011 1:13 pm
