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

GoldenEyeNumismatics

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.

Peaceman

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...

gecko109

Thats right around $94,652.06 worth of silver at melt value!!!



Edited to add: Give or take a few cents.

Bobk

Danger Will Robins. Now alot of people know that someone you know has 500# of silver in his basement.

RedTiger

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.

renman95

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.

derryb

he's gonna need one of these:

Linky diddle doo