Silver and Gold have already exceeded the price at which I was going

tydye

to sell half my hoard. But as of yet I am still hanging on. Anyone else on the fence?

Meltdown

I sold 40 ounces over on Friday and it HURT real bad. At the time, I was thinking what the hell... I'll take some profit.
Now, 3 days later I can't stop thinking my stack is 40oz's lighter.

gsa1fan

I wanted to sell all my silver. Then I started factoring in economy is not looking good for a L O N G time.

Right now I'd rather cash in my IRA much less faith in wall street these days. JMHO.

dpoole

Under the circumstances, who would rather have paper dollars instead of silver?

roadrunner

Most people cashing out of part of their hoard will never replace it at higher levels. You can hope for dips but you might not get one. Everyone was so sure silver would hit $21-$23 again and that opportunity didn't come, at least not yet. So if you sold some at $27-$28 do you now replace it at $30? Get the idea? And if/when silver heads to $50, $75, $100, $150, $200....that $28 vs $30 vs $35 price won't matter at all. The only thing that will matter is how many ounces were you able to hold on to. Wouldn't it stink at $175 silver to know you sold off a large chunk of silver at $35 to "save" yourself $10/oz on a planned rebuy that never happened? I was kicking myself in the butt for buying some silver in March 2008 at $20/oz. Dumbest think I ever did. I figured it was promptly headed to $25-$30....not to $9 again. But now that it's hit $30, it wasn't quite such a dumb move any more. It's done better than many of my coin "investments."

Gold has already taken out it's all time high. Hard to believe that silver won't do the same eventually. You always have the option of cashing out once it's clear that confidence will be permanently restored to the world fiat currencies and that govt's will only spend what they bring in. Any signs of a mania yet in silver with family members talking about buying some? Do they even know what an ounce is worth today?

I'm figuring on silver hitting 3 figures. It's on hold until that occurs, then I'll reassess. But along the way we'll get better feedback on when the last parabolic mania move is in full swing.

roadrunner

jmski52

Got any better ideas? I mean, if you need to spend the money on something you need, then why not sell some bullion?

But, other than that - what alternative ways to preserve your purchasing power can you think of? Everything else has so many warts that there really is no contest at the moment, in my opinion.

AnkurJ

Im holding on to the bulk of my gold. Silver I sold most at $28-$29. Replaced some of it and will probably sell it again! Round and round we go!

KUCH

I'm all into diversification. 10% of your wealth should be in PM's. It's a long term insurance play, just in case TSHTF. , When silver hits 3 figures.... $100,$150 I'll sell and buy real estate. That's the game plan today!

JCMhouston

I sold some of my limited silver today, but only because I found two coins I wanted for the collection.

Justacommeman

Sticking to a plan has always served me well. However, I always reserve the right to change my mind. May I suggest you MAYBE take 25% off the table instead? You can always take the other 25% off whenever. MJ

Weiss

I think it is wise to at least consider selling PMs to pay for specific, well-reasoned purchases. Farmland, your home, rental property, that kind of thing. Especially if you allocated some of your stash specifically for growth and NOT as insurance.

At the risk of sounding SHTFy: If you don't have long term food storage and you have that capability, you might consider that as well. An ounce or two of gold could buy you 2, 3, maybe 5 years worth of food if planned well. That peace of mind could literally be worth its weight in gold.

OPA

Not selling any Gold...but I sold, and am done for the year, silver bullion rounds & bars, while buying silver art bars that have a numismatic value along with their intrinsic value.

MoneyCollector

Depends on why you own it - if to make a quick buck, sell when you hit your target. If for wealth insurance, don't sell.

Randy

renman95

Grocery store clerk, "paper or plastic?"

Your conscience, "paper or silver?"

jmski52

I agree with Weiss's comments. Any liquidation and spending should be well-reasoned and purposeful.

No matter what the price is now, it will change. You could start thinking in terms of your pms as a bank account rather than as this "thing" that is worth some money. It IS the money, but not one in 50 commentators will ever say it. Maybe one in a hundred.

"What we have here, is a failure to communicate." - George Kennedy, Cool Hand Luke.

Whether the price crashes or skyrockets after you sell, you will always be able to buy some back at the new price for exactly the same reasons that you bought it in the first place. The price changes but the dynamics are still the same, unless the government gets their act together. If that unlikely event happens, it will still take time to phase any government changes into the mainstream, so you will see any big fiscally-responsible changes coming and be able to adjust your thinking and your approach. (The fiscally-responsible changes come slowly, the fiscally-stupid changes come quickly, in the dead of night, or when most of Congress is looking the other way.)

The key is your *thinking* and not the price.

percyb

Gold is down and silver is way off of its high for the day. Looks like things are turning south. If I thought this was the top of the silver market, I'd sell everything.

DrBuster

I thought about selling some silver to just pay off the wife's suv and be done with it, but meh, only have like 3g of payments left.

guitarwes

please don't sell something's that's increasing in value for cash that's decreasing in value to pay for something with that cash that's decreasing in value.

DrBuster

<< <i>please don't sell something's that's increasing in value for cash that's decreasing in value to pay for something with that cash that's decreasing in value. >>



Like I said, I thought about it. Was going to do that and pay my truck off and then triple up on the reload, but I said screws it. Slow and steady.

tydye

Thanks everyone for the input. I decided to hold for now. Probably the biggest reason is I have nothing better planned to do with the money if I were to sell. Other than 6-7 years left on a low interest mortgage I owe nobody. The part that scares me a bit is now my hoard accounts for about 25-30% of my holdings as it has nearly doubled in value the last 2 years. I would hate to miss out on a peak like the $20 a few years ago.

pakasmom

Could have written Meltdown's post... sold 40oz. a couple of weeks ago. Bought at $20 and sold at $24. Hated to do it, but sold only what I had to, to do what I needed to.

I'm happily holding on to the rest for as long as I can.

DrBuster

<< <i>Could have written Meltdown's post... sold 40oz. a couple of weeks ago. Bought at $20 and sold at $24. Hated to do it, but sold only what I had to, to do what I needed to.

I'm happily holding on to the rest for as long as I can. >>



Don't ever feel bad about a 20% gain.

percyb

What is support on Silver? The 200 mda is about $24.75.

Ciccio

<< <i>

<< <i>Could have written Meltdown's post... sold 40oz. a couple of weeks ago. Bought at $20 and sold at $24. Hated to do it, but sold only what I had to, to do what I needed to.

I'm happily holding on to the rest for as long as I can. >>



Don't ever feel bad about a 20% gain. >>



That's how I felt when I sold almost all my silver.
I needed cash and was able to get 10-20% profit on every single item I sold.
No regrets! (only wish I could be richer and don't need to sell )

OTOH, I was able to add some gold with the profit!