Friday Metal...SOLD!!?

Weiss

First time in a very long time that I've sold more than just some catch and release silver.
I got back into stacking back around 2008 when silver was around $10. Added consistently for several years until I got to what I felt was an appropriate amount, offset by gold and other things.

I didn't have a lot of direction back then--I was essentially dollar cost averaging. I wasn't buying complete crap, but the stuff I was buying wasn't especially interesting.

Once I settled on a box of 20 style to coin collecting, maybe 6 or 8 years ago, I decided to apply a similar approach to PM stacking. No more odd rolls of mixed date worn 90% or generic modern silver bars. My new direction was kind of a tall order: Items needed to be interesting to me, have the potential to increase in value above its PM content, be easy to liquidate, and have little to no premium.

I mentioned on this board several weeks ago that I would consider selling AG at $30, thinking that was close to impossible. With that last run-up to $26+, I decided to get my ducks in a row for the possibility of $30. When silver fell the next few days, I backburnered the idea. But pulling my crappy silver reminded me that when I'd bought some of the more interesting pieces lately, I'd promised myself that I would swap it for the junky stuff I bought years ago.

So with silver at above $24 on Wednesday, I headed to one of my local B&Ms to fulfill that promise. I liquidated about 80 ounces of clutter.

Have to admit, it felt really, really good.

TwoSides2aCoin

Looks very similar to the 170 ounces I just procured this past week. Was that you ? There is a market. And like Mr Buffett ( an old neighbor) says about gold " it just sits there ". ) ....Until it moves.

LukeMarshall

Nothing wrong with profit taking... Especially if it helps fund nicer pieces that are more inline with your current collecting habits.

So whatcha gonna spend the money on???

Meltdown

I did the same thing on Wednesday.... on a smaller scale. I offloaded a pile of proof British silver pieces I'd picked up years ago with a collection of stuff. I was about $12 per oz into it... Most of it never sold and was just collecting dust. I took it all to a local shop and traded it for these at $20 each. In the end, I'm probably even but I like these a whole lot better and they're liquid.
I've been adding the random 1oz pieces I don't want up on ebay this past week to take advantage of those premiums.
.

DrBuster

Nice. And what Luke said - what's the plans for the extra ends, anything fun?

topstuf

Dumping ....silver ...always generates some euphoria.

Weiss

No immediate plans for the money. Maybe I'll apply it towards that Guadalajaran silversmith whose pieces I've been acquiring lately.

Got another piece for next week