Is It Time to Start Selling ?
Mike59
Posts: 319 ✭✭✭
Wish I could find my crystal ball. I also wonder how much Junk Silver will go into the melting pots this time.
MIKE B.
1
Comments
Personally ... I'm not selling anything at this time.
I expect a pretty good smackdown in the near future, At the risk of sounding like a conspiracy theorist, TPTB needs to send a reminder to us little guys and gals that they are still in control.
I believe gold is going to blow through $2k and silver should come along for the ride to some extent. The trend is still up so to answer your question IMO time to sell not yet. Doesn't hurt to start preparing though.
The whole worlds off its rocker, buy Gold™.
Selling only limited amounts. Were are in uncharted waters in more than one area. IMO there is not much point in exchanging gold and silver for federal reserve notes that are being created in huge amounts and likely losing purchasing power. Gold and silver are a good insurance policy to hold on to, even more so in these times.
They were saying the same thing circa 2011.
I wouldn't want to cash in for federal toilet paper either but nothing wrong with converting to fiat and then immediately purchasing much needed equipment and supplies for the ole homestead.
The whole worlds off its rocker, buy Gold™.
Not me. I get the temptation to grab some profits though.
I'm tempted with the same question I had back in 2011....sell some and throw that $ into the market...?
That one I wish I did, but I did swap silver for gold then and was quite happy with that trade.
When silver goes up I like to sell junk and then buy back 999 bars and good coin.
Profit taking is in order with this run up. However I'd hold some back for a while but it's tough deciding how much. This is a fast moving train so I'll be calling my dealer later today if trend holds.
The perennial question... When to sell in a rising market. If the price is high enough, that sales of a few pieces, leave your entire stack as profit, that is a good move...recouping your investment, leaving everything else as clear profit is a great position to be in... that way, if needed, the market can be up or down and still provide 'free' cash if needed. Cheers, RickO
Great advice
No selling here. My plan has been to sell off slowly during retirement. I am not retired yet. Conversely I am not buying any as I used the 2012 to 2019 period to load up on both metals.
https://www.pcgs.com/setregistry/gold/liberty-head-2-1-gold-major-sets/liberty-head-2-1-gold-basic-set-circulation-strikes-1840-1907-cac/alltimeset/268163
That's pretty much how I look at it... get rid of some of the less desired items, and put profits into other areas, or needed necessities. Otherwise hold on to the insurance.
Sold some. Now in just wait and see mode for the rest Good luck everyone with your crystal balls!!
:}
Selling ... while the going is hot. I don't look a gift horse in the mouth. I've learned my lesson that history has a habit to repeat itself.
I am going to sell all of my modern silver commemoratives when the value is at least what I paid for them. I have been selling everything except the coins in my 7070.
The battle scars of all the good times
It is time to sell when you have something better than gold to replace the security of a debt ridden, mismanaged, politically driven "currency."
YES! Just sold it all and paying off the mortgage with my winnings. Yippee!
That's a sound move in my opinion @WWW
although not everyone would agree.
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How much can one sell 20 coin rolls of SAE's right now? I see the big dealers asking and apparently selling for $700+ a
roll.
Ok, I just checked sold items on eBay and they're averaging $625 per roll +/-
I really wanted to buy a new boat. But I listened to my wife instead.
BTW: I learned a lot from this forum, so thank you all very much.
I'd say yes, unless you're buying. Then I'd say "no".
Wow. Just sold a roll today for $520. No wonder the guy jumped on it.
I’ll buy all you want to sell today for $540/roll. Lol
I just want some quick cash for later fwiw
That's not a bad offer.
Accumulate as much physical silver as possible while forgeting about the dollar value of your stash.
When the price runs up and drops off, play the ETFs instead.
Much easier to buy and sell this way, while accummulating all the physical ounces you can.
"“Those who sacrifice liberty for security/safety deserve neither.“(Benjamin Franklin)
"I only golf on days that end in 'Y'" (DE59)
Looks like you timed your sale perfectly!
I went ahead and sold 40 eagles over the weekend for $1100. Had $700 in them so what the heck.
Little premature IMO but hey he did payoff the house so can't knock it at all.
The whole worlds off its rocker, buy Gold™.
BTFD
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
If you do not need the money right away, hold off on profit taking because it is reasonable to wait a bit more. Do prepare yourself on selling. Organize what you would like to get rid of as everyone has coins or bullion that they do not like for some reason or another and have some dealers in place that you can sell to, or if eBay is your thing, start preparing postal supplies and pictures.
Keep in mind that when you sell, you will be getting dollars. Just make sure that they will be put to good use. You do not want to just hold on to cash, but if you need special tools in order to be able to work and earn money (like a tractor for a farmer, or paint booth for an auto body shop), then that is a good investment. Paying off the mortgage is another good idea, although I know some would disagree, but it does give piece of mind and if a person sleeps more soundly at night and is happier and more secure each day afterward, then it was the right decision in that context. Never sacrifice health for money.
Some people might want to use profits to finally get their old classic car restored, which I know not everyone would agree with, but a classic car is worth money too and if it helps a person feel a sense of accomplishment that they were able to finish it, that might be good for their overall health as well.
Gold has surpassed its all time high, so It makes sense to do some profit taking considering you already know what to do with the money, but silver is barely halfway to its previous high, so I sense much more growth potential there. And then there is platinum, which has been historically low compared to gold for some time. Is it a sleeper metal? Who knows. I know a lot of its value dropped due to the automotive industry using less of it.
BST: Tennessebanker, Downtown1974, LarkinCollector, nendee
Agree 100%, the security of having a roof over my families head is more important than coins and metals.
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Well, lots of profit taking with gold today, yet it didn't crash and is down only $40 bucks from yesterday's record high. This says a lot about the legs of the current bull market. Taking profits is a natural progression but don't do it out of fear.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
MAYBE Its not the time to sell any ASE yet. just read this in Bloomberg .
https://www.bloomberg.com/news/articles/2020-07-28/u-s-mint-has-reduced-silver-gold-coin-supplies-to-purchasers
Am I wrong or did ASE just get an additional premium?
Mike
MIKE B.
I saw that too. This will play a role in the premiums for sure. Coin dealers overall are lacking supply. Ask any dealer and I am sure they are more than happy to buy your silver at a fair price since it is hot right now and easy to sell. I am not sure what the buy price is right now on average, but it would not surprise me if they are paying melt or a little more at this point. Someone can update us on the evidence for this.
BST: Tennessebanker, Downtown1974, LarkinCollector, nendee
I think most people agree with your statement that a home for the family is more important than coins and metals, but the point here is that if one does some serious profit taking from the sale of coins or precious metals, paying off the mortgage would not be their first priority as they would point to investments that have a greater rate of return than one saves on mortgage interest. Some people are of the mindset that they will continue with the 4% mortgage and pay in a timely manner every month, but reinvest funds, acquired through the sale of coins or PMs, in financial vehicles that yield 8-15%. I get that logic, but where are these financial vehicles that yield at least twice your mortgage interest? How safe are they? If a person is not well versed in financial vehicles, it is probably best not to dive in. It works for others, but a regular hard-working skilled person in a field other than finance is likely not prepared to find these relatively safe financial vehicles. They are for sure not guaranteed by any sense of the word, so paying off the mortgage is a sure thing and one less monthly payment to worry about for the rest of their life.
BST: Tennessebanker, Downtown1974, LarkinCollector, nendee
My wife wants a new house. I told her I'm working on the foundation. Stacking> @JTHawaii said:
For this reason, I recommend a metal roof.
Yeah looking to sell off some peace dollars I bought during the first day of stay in place, need some more liquid funds for the pile. things are getting crazy out there, some nice lead would be comforting now
Stainless steel or galvanized?
Is It Time to Start Selling?
Only if you need some cash. There's a lot more room for the metals to run.
I knew it would happen.
I put up a 1 ounce Sundance Coors light silverbullet bar up on the bay to test the waters.
seems they are bringing good money this month and I have duplicates.
I'm concerned what PM's will do if the US or EU come up with a proven covid 19 vaccine. Russia's vaccine is unproven and in very limited supply. Even-though it did this much damage to PM's.
Well, with gold taking an $80/oz hit I would expect lots of ebay transactions to go south. Looks like volatility will rule, and premiums will increase from this point going forward.
I knew it would happen.
I agree with "volatility will rule." As to increased premiums, that remains to be seen. I'll be closely watching completed 90% "junk coin" auctions for the next week or so.l
You guys can blame today's selloff on ME! I have never sold anything and yesterday evening I started to go thru my Sterling silver coins and bars to sell, so I could buy gold or more .999 silver. If you want to make money just do the opposite of whatever I do. Kidding aside I think this selloff is healthy and once its done, I think we continue to rise.
JMHO,
Mike
MIKE B.
I'm still selectively buying, mostly gold. I think it's got alot of room to run yet, even with the supposedly Russian COVIG fix(which I doubt). I'm treating any dip as just a little extra buying opportunity. Regardless, between the China virus and all the fiat being dumped into the world to try and keep things stabilized, my bet is that the hard stuff will win in the end. Silver is just catching up a little, but expect it to build more once the economy gets perking again.
1,910 by Sept 1st
2,275 by Jan1st 2021
I had to work the last two weekends and was going to sell a little at the local flea.
So of course it dropped. My bad.
.
I may be in the minority, but I believe a new age of gold prices is evolving right before our eyes. The new norm will be the $2500 range for gold. The age of the hundreds gave ways to the thousands. Now the age of one thousand will give way to the two thousands. I believe $2000 plus gold is being established right before our eyes and will never look back.