Gold - When Would You Sell Everything?
SilverEagles92
Posts: 6,787 ✭
SilverEagles92
Posts: 6,787 ✭
SilverEagles92
Posts: 6,787 ✭
Comments
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
you sell when you want to get into a different asset.
like start a business, buy land/house/, invest in a different commodity, or need to pay outstanding debt down, etc..
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<< <i>Updated
Thanks. Now I can vote.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
I firmly believe in numismatics as the world's greatest hobby, but recognize that this is a luxury and without collectors, we can all spend/melt our collections/inventories.
eBaystore
the cost of the gold you keep. That way it
is essentially free and worth keeping long term.
Camelot
<< <i>How about "when the fundamentals change from positive to negative"? >>
No, that would make too much sense.
CG
The name is LEE!
I would sell it all when it's $400.
Well, all the gold I own is in different forms, wedding ring, other jewelry, bullion, and certified collectibles.
I would sell 'all' the gold I own in order to survive, if it ever came down to that economic situation
in the future.
If gold goes to $1500, that thought alone now doesn't tell me that's the time to sell. It depends on other factors in the world and such at that time ....and whether the gold prices are stable, steadily rising, or falling after that.
I don't think we're going to wake up one day soon and find Gold dropped suddenly back to even 2004 prices. If it was showing a pattern of falling steadily back down, then maybe it's time to unload the bullion, because its peak to me would then be deemed already achieved at that point.
thats when I sell.....................But thats really just "trading up"
Dan
In reality, it would depend upon the market conditions. If I think it's further deteriorating , then I would hold, which is the case. I wouldn't sell at any price if I thought it had obvious potential to climb higher over a relatively short time, as in 6-12 mth horizon.
I have about 40-45 oz's in US/World Bullion coins for the two kids, that would be the first to sell off. I think there would be better investments for them and be better diversified considering their net worth. I purchased all the proof sets I could find that was of their birth years back in 1999. I purchased it all for under $300 oz. If you're thinking about buying gold at today's prices, I think you should reevaluate about whether the risk/reward ratio is really there. I've been very fortunate with precious metals. It was obvious to me back in 1981 that I should sell, I got out somewhere over $800'oz. Didn't buy any more Buillion till 1999 when again it was obvious that the market was thinking short term.
My numismatic gold coins I purchased thruout the 90's when price was between 400-500/oz for the most part, I'd have to hold out for a bit longer. Not that I think they're a better investment, just that I wouldn't have a compelling reason to sell unless I lost all my income. It's never smart to have all your net worth in the same category, gold/silver divisifies me some.
Now if we're talking all my gold nuggets / dust that I've collected thru 24 yrs of Gold dredging/panning/dectecting, it ain't gonna happen at any price. I have about 2 - 2.5 pounds, which isn't a lot considering the work/time I put into it. The sentimental value is far above what someone would be willing to pay.
However, my first spouses will be sold without giving it much thought if the price moves up much more.
Dredging is a lot of fun, for adults and kids
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Had some cool pictures of dredging, along with a lot of gold I found, I can't get back into the msg to edit it for some reason. You'll just have to take my word for it.
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