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I fellow I know has about 500 lbs of 90% in his basement...

do you recommend now is a good time to sell? My personal opinion is that it would be best to wait until silver is back up around $18 or $20, which I think is quite possible in the next year or so.

Comments

  • I think we will see Silver level off at $15-16 in the next 20 days and then go to $ 25ish within a year... I dont see it going to $ 10 again for a long time...

    I'd tell him to sell 1/5 of his holdings now... just to average up/down...
  • Thats right around $94,652.06 worth of silver at melt value!!!



    Edited to add: Give or take a few cents.image
  • Danger Will Robins. Now alot of people know that someone you know has 500# of silver in his basement.
    Pecunia in arbotis non crescit.
  • Why would a hoarder sell now? Unless, there is some legal event such as divorce, an inheritance, a serious health issue, or a serious need for money, no way, no how would I tell him to sell now. Someone with that much has probably been buying for decades. What change has occurred that would make him think today is a good day to sell?

    If he did sell, and didn't have any of the above issues, I would take it as a positive for silver bulls: someone who has been buying for decades is tired of the stuff and wants to sell. What would he put the money into? If and when silver is $50 or even $500 an ounce, what would he put the money into? He probably knows a lot more about silver prices than you do.

    It is disturbing that you know how much he has. That is a big bullseye for would be thieves.
  • renman95renman95 Posts: 7,037 ✭✭✭✭✭
    In this situation, tell him to sell only when he feels comfortable selling/eating his food storage and has used up most of his shells.
  • derrybderryb Posts: 36,941 ✭✭✭✭✭
    he's gonna need one of these:

    Linky diddle doo

    The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong

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