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Sell silver?

SimpleCollectorSimpleCollector Posts: 536 ✭✭✭✭✭

So, I have stacked silver over the past few years...not enough to be incredibly wealthy, but a made reasonable profit...so if you sell now and take the profit....where are you putting the new found funds?

Gold seems to high, USD is getting weaker, stock market except for maybe some pharma and internet(Amazon/apple) seems risky...

So, are you taking the profits and if so where are you putting them, or are you letting it ride.

Comments

  • hchcoinhchcoin Posts: 4,829 ✭✭✭✭✭

    I would cash out right now for the right piece of real estate the problem is the two properties I want to buy are not on the market. Other than that, I would sell if I had a specific need or emergency where I was spending the money now.

  • jdimmickjdimmick Posts: 9,667 ✭✭✭✭✭

    Dpoole,

    I agree with you, dont be afraid to take a profit, (I tell my customers that all the time)

    some never learn

  • coinpalicecoinpalice Posts: 2,453 ✭✭✭✭✭

    either real estate or if you need another car, now is a great time, they are selling real cheap now. i would not hold dollars now

  • DeutscherGeistDeutscherGeist Posts: 2,990 ✭✭✭✭

    @coinpalice said:
    either real estate or if you need another car, now is a great time, they are selling real cheap now. i would not hold dollars now

    This is what I lean towards. Nothing wrong with profit taking, but when you do, do not hold on to cash, buy something else that is essential with it. Depending on your situation, some good things to buy would include a home, payoff remaining mortgage, make major repairs to existing home, get a tool that helps you earn money (like a tractor for a farmer), pay off a debt to help you sleep better at night, fix up that old classic car so its not laying in the driveway or inside the garage dead, etc. If you need a new vehicle to get around and take care of your personal business, coinpalice is right, cars are not selling high right now, so good deals are out there.

    "So many of our DREAMS at first seem impossible, then they seem improbable, and then, when we SUMMON THE WILL they soon become INEVITABLE "- Christopher Reeve

    BST: Tennessebanker, Downtown1974, LarkinCollector, nendee
  • DoubleEagle59DoubleEagle59 Posts: 8,296 ✭✭✭✭✭

    Buying and selling for a quick profit, then play the ETFs.

    But hold physical for the long run and insurance against a dollar collapse.

    "Gold is money, and nothing else" (JP Morgan, 1912)

    "“Those who sacrifice liberty for security/safety deserve neither.“(Benjamin Franklin)

    "I only golf on days that end in 'Y'" (DE59)
  • JimnightJimnight Posts: 10,846 ✭✭✭✭✭

    Tough call. I still like gold.

  • taxmadtaxmad Posts: 971 ✭✭✭✭

    @DeutscherGeist said:

    @coinpalice said:
    either real estate or if you need another car, now is a great time, they are selling real cheap now. i would not hold dollars now

    This is what I lean towards. Nothing wrong with profit taking, but when you do, do not hold on to cash, buy something else that is essential with it. Depending on your situation, some good things to buy would include a home, payoff remaining mortgage, make major repairs to existing home, get a tool that helps you earn money (like a tractor for a farmer), pay off a debt to help you sleep better at night, fix up that old classic car so its not laying in the driveway or inside the garage dead, etc. If you need a new vehicle to get around and take care of your personal business, coinpalice is right, cars are not selling high right now, so good deals are out there.

    One thing to consider when looking at real estate - taxes. State and Local governments are hurting for cash and they are going to raise taxes. Real Estate tax will be a favorite, as you cannot move or hide it. Yes, you can sell it, but you are counting on low interest rates and level or increasing interest in your property so you can get out at your cost or above.

    Just my two cents...

  • derrybderryb Posts: 36,774 ✭✭✭✭✭

    @taxmad said:

    @DeutscherGeist said:

    @coinpalice said:
    either real estate or if you need another car, now is a great time, they are selling real cheap now. i would not hold dollars now

    This is what I lean towards. Nothing wrong with profit taking, but when you do, do not hold on to cash, buy something else that is essential with it. Depending on your situation, some good things to buy would include a home, payoff remaining mortgage, make major repairs to existing home, get a tool that helps you earn money (like a tractor for a farmer), pay off a debt to help you sleep better at night, fix up that old classic car so its not laying in the driveway or inside the garage dead, etc. If you need a new vehicle to get around and take care of your personal business, coinpalice is right, cars are not selling high right now, so good deals are out there.

    One thing to consider when looking at real estate - taxes. State and Local governments are hurting for cash and they are going to raise taxes. Real Estate tax will be a favorite, as you cannot move or hide it. Yes, you can sell it, but you are counting on low interest rates and level or increasing interest in your property so you can get out at your cost or above.

    Just my two cents...

    and you get to pay even more taxes when you close on real estate.

    "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

  • TwoSides2aCoinTwoSides2aCoin Posts: 44,264 ✭✭✭✭✭

    I sell to buy and buy to sell.

  • BeeManBeeMan Posts: 363 ✭✭✭

    Waiting for it to go high enough to at least get back what I spent on all of the modern silver commemoratives I bought.

    Watch the mirror count the lines
    The battle scars of all the good times
  • derrybderryb Posts: 36,774 ✭✭✭✭✭

    lesson learned?

    "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

  • carew4mecarew4me Posts: 3,470 ✭✭✭✭

    I honestly think Sonic Youth captures the current market here. All the guidance you need lies within:
    https://www.youtube.com/watch?v=viF12Mu3-5w


    Loves me some shiny!
  • topstuftopstuf Posts: 14,803 ✭✭✭✭✭

    Let's ask the Germans who got inflated to starvation in the Weimar or the ones who got 40 new Marks in 1948 when they "changed" the money.

  • rickoricko Posts: 98,724 ✭✭✭✭✭

    Still holding....no immediate needs....and I think the financial situation still has a way to go.... Still a lot to happen this year, and maybe next year too.... Cheers, RickO

  • topstuftopstuf Posts: 14,803 ✭✭✭✭✭
    edited August 6, 2020 7:21AM

    @taxmad said:

    One thing to consider when looking at real estate - taxes. State and Local governments are hurting for cash and they are going to raise taxes. Real Estate tax will be a favorite, as you cannot move or hide it.
    Just my two cents...

    As this... whatever .....develops, I think portability will be the primary thing to consider.

  • derrybderryb Posts: 36,774 ✭✭✭✭✭

    @topstuf said:

    As this... whatever .....develops, I think portability will be the primary thing to consider.

    Portability is equally important when it comes to cash. That is what separates real cash from digital cash.

    "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

  • topstuftopstuf Posts: 14,803 ✭✭✭✭✭

    Twenties and fives are a good "cash stash"
    Hundreds are too valuable.

  • derrybderryb Posts: 36,774 ✭✭✭✭✭
    edited August 6, 2020 8:26AM

    Coin shortage? Up next, currency shortage.

    "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

  • DNADaveDNADave Posts: 7,268 ✭✭✭✭✭

    One thing to consider when looking at real estate - taxes. State and Local governments are hurting for cash and they are going to raise taxes. Real Estate tax will be a favorite, as you cannot move or hide it. Yes, you can sell it, but you are counting on low interest rates and level or increasing interest in your property so you can get out at your cost or above.

    Just my two cents...

    But can you live on it and defend it if you have to. Thinking 50-100 acres off the beaten path. And hunt on it, shoot guns for fun, have some chickens, ride a four wheeler etc etc.

  • topstuftopstuf Posts: 14,803 ✭✭✭✭✭

  • taxmadtaxmad Posts: 971 ✭✭✭✭

    @DNADave said:

    One thing to consider when looking at real estate - taxes. State and Local governments are hurting for cash and they are going to raise taxes. Real Estate tax will be a favorite, as you cannot move or hide it. Yes, you can sell it, but you are counting on low interest rates and level or increasing interest in your property so you can get out at your cost or above.

    Just my two cents...

    But can you live on it and defend it if you have to. Thinking 50-100 acres off the beaten path. And hunt on it, shoot guns for fun, have some chickens, ride a four wheeler etc etc.

    All valid points - however I was commenting more on real estate as an investment and the ability to preserve capital

  • 3stars3stars Posts: 2,285 ✭✭✭✭✭

    @derryb said:

    @taxmad said:

    @DeutscherGeist said:

    @coinpalice said:
    either real estate or if you need another car, now is a great time, they are selling real cheap now. i would not hold dollars now

    This is what I lean towards. Nothing wrong with profit taking, but when you do, do not hold on to cash, buy something else that is essential with it. Depending on your situation, some good things to buy would include a home, payoff remaining mortgage, make major repairs to existing home, get a tool that helps you earn money (like a tractor for a farmer), pay off a debt to help you sleep better at night, fix up that old classic car so its not laying in the driveway or inside the garage dead, etc. If you need a new vehicle to get around and take care of your personal business, coinpalice is right, cars are not selling high right now, so good deals are out there.

    One thing to consider when looking at real estate - taxes. State and Local governments are hurting for cash and they are going to raise taxes. Real Estate tax will be a favorite, as you cannot move or hide it. Yes, you can sell it, but you are counting on low interest rates and level or increasing interest in your property so you can get out at your cost or above.

    Just my two cents...

    and you get to pay even more taxes when you close on real estate.

    Not everywhere...

    Previous transactions: Wondercoin, goldman86, dmarks, Type2
  • tincuptincup Posts: 5,110 ✭✭✭✭✭
    edited August 6, 2020 8:47AM

    And with real estate.... you get to pay the government money every year for the right to live on it or 'own' it. But then, we pay the government money for just about every other reason....

    If you really think you 'own' your real estate... try not paying your taxes on it and see what happens....

    ----- kj
  • tincuptincup Posts: 5,110 ✭✭✭✭✭
    edited August 6, 2020 8:53AM

    Perhaps getting a little of topic of the original post... so to give a better answer to original question.....

    In these uncertain times with more turmoil every day... I tend to favor holding on to the precious metals, except for some select selling to weed out some items less appropriate. Some profits can go into other buying opportunities... for needed items. And certainly if you have any debt then get rid of that.

    ----- kj
  • DeutscherGeistDeutscherGeist Posts: 2,990 ✭✭✭✭

    To clarify what I stated regarding using precious metals profits for real estate, I do not mean as a strict investment as that takes careful consideration of so many variables. What I really meant was real estate for personal use. Some may not own their own home, so purchasing a home or land to eventually build a home is a good way to spend money since everyone needs a roof over their heads, especially those with a family. I imagine some people, who are single, could live in their place of business for a stretch until a better financial situation is attained, but when you have a family, you can't do that.

    Also, rent or mortgage is usually the most expensive bill that a person of middle class has to pay every month, so reducing or eliminating that will help so much in the long term. Having piece of mind will help you sleep better at night and better sustain your mental and physical health.

    Something I have wondered about regarding eliminating mortgage: would the benefits of that exceed the benefits of having more tax deductions through mortgage interest? A mortgage makes it easier to itemize tax deductible items, but not having a mortgage might force a person into declaring standard deduction. I am not sure about that one, but I say the piece of mind that comes with eliminating mortgage is also valuable.

    "So many of our DREAMS at first seem impossible, then they seem improbable, and then, when we SUMMON THE WILL they soon become INEVITABLE "- Christopher Reeve

    BST: Tennessebanker, Downtown1974, LarkinCollector, nendee
  • derrybderryb Posts: 36,774 ✭✭✭✭✭
    edited August 6, 2020 10:17AM

    A home purchase for residence is an investment in one's self. The only investment/expense that should carry debt. Rarely wrong to invest in yourself.

    Far better to put $X in the bank each month for your next expense than to dole out $X times a percentage rate each month for your last expense. Besides, a consumer spends more wisely when he is spending his cash vs. next year's paychecks.

    "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

  • cohodkcohodk Posts: 19,070 ✭✭✭✭✭
    edited August 6, 2020 10:18AM

    Since real estate sucks and is only a burden, none of you are invited to my bug out camp as you would not appreciate it.

    Dang real estate.. ;)

    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • topstuftopstuf Posts: 14,803 ✭✭✭✭✭

    A house is an EXPENSE. No two ways about it.
    A ....paid off.....house is SORTA an investment.
    Figure how much it would cost to rent where you are.
    Then figure how much interest you'd have to earn to pay that much rent.

    Presto !
    Pretty good shadow income. :)

  • derrybderryb Posts: 36,774 ✭✭✭✭✭
    edited August 6, 2020 10:36AM

    @cohodk said:
    Since real estate sucks and is only a burden, none of you are invited to my bug out camp as you would not appreciate it.

    Dang real estate.. ;)

    Dang non personal residence real estate.
    It's like a boat. If you can afford that second vacation home do it for enjoyment, not as an investment.

    "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

  • cohodkcohodk Posts: 19,070 ✭✭✭✭✭

    Why cant an investment be enjoyable?

    Dont you love fondling your rounds?

    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • derrybderryb Posts: 36,774 ✭✭✭✭✭

    @topstuf said:
    A house is an EXPENSE. No two ways about it.
    A ....paid off.....house is SORTA an investment.
    Figure how much it would cost to rent where you are.
    Then figure how much interest you'd have to earn to pay that much rent.

    Presto !
    Pretty good shadow income. :)

    The inflation "tax" takes care of shadow income.

    "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

  • MeltdownMeltdown Posts: 8,774 ✭✭✭✭✭

    @cohodk said:
    Why cant an investment be enjoyable?

    Dont you love fondling your rounds?

    Ha, I do.

  • derrybderryb Posts: 36,774 ✭✭✭✭✭
    edited August 6, 2020 10:53AM

    @cohodk said:
    Why cant an investment be enjoyable?

    Dont you love fondling your rounds?

    Not as much as I enjoy feeding trolls. lol

    As you will learn, a boat is not an investment and you will regret the day you thought it to be one.

    "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

  • derrybderryb Posts: 36,774 ✭✭✭✭✭

    @SimpleCollector said:
    So, I have stacked silver over the past few years...not enough to be incredibly wealthy, but a made reasonable profit...so if you sell now and take the profit....where are you putting the new found funds?

    Gold seems to high, USD is getting weaker, stock market except for maybe some pharma and internet(Amazon/apple) seems risky...

    So, are you taking the profits and if so where are you putting them, or are you letting it ride.

    Currently only three good reasons to sell. One, you need the money for a purchase. Two, you see a better investment opportunity. Three, you expect silver to drop and plan to buy it back cheaper.

    Otherwise you are turning your silver that is currently gaining value into something that loses value.

    "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

  • coinpalicecoinpalice Posts: 2,453 ✭✭✭✭✭

    the only enjoyment you get from a boat is when you sell it

  • SimpleCollectorSimpleCollector Posts: 536 ✭✭✭✭✭

    Thanks for the thoughts...
    House is paid...

    No debt, except for my new Jeep gladiator .... which I love......got a good deal...and interest rate is low so no real benefit in paying it off..

    Real estate, not enough profit in the silver I have to go that route, but, as I consider it more...taxes, insurance, loan interest, utilities, etc. concern me if it is a second house...seems cheaper to go Vbro or Airbnb route and rent for a few key weeks, let someone else have the hassles...

    So Perhaps take some profit By selling some of the less interesting generic items, and search for some toy/tool bargains that may come up as the economy slows

  • derrybderryb Posts: 36,774 ✭✭✭✭✭

    cash is king, but only if you don't let it grow old.

    "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

  • jmski52jmski52 Posts: 22,795 ✭✭✭✭✭

    Cashing out of undervalued silver to buy what?

    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • rte592rte592 Posts: 1,656 ✭✭✭✭✭

    @cohodk said:

    As you will learn, a boat is not an investment and you will regret the day you thought it to be one.

    I must be doing it wrong.
    I'm 4-4 that haven't cost me a dime to own.

  • cohodkcohodk Posts: 19,070 ✭✭✭✭✭

    @derryb said:

    @cohodk said:
    Why cant an investment be enjoyable?

    Dont you love fondling your rounds?

    Not as much as I enjoy feeding trolls. lol

    As you will learn, a boat is not an investment and you will regret the day you thought it to be one.

    Only someone who considers gold to be an insurance policy would consider a boat to be an investment.

    Enjoyment of the fruits of ones labor is return of investment that you will never realize or understand.

    Fondle away derrydoom!!!

    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • derrybderryb Posts: 36,774 ✭✭✭✭✭

    never quite full, eh?

    "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

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