How and When to Sell Your Silver?

tneig

Hi,
Been reading about this on the web and in different places. The advice sure varies, but..... "Seriously" "Really"

Most of the info is slanted towards the purchasing side, and directing your attention to that business to buy. Some generic information on the selling, and some good stuff on premiums, but it all seems a little weak on the selling side. I mean there is the standard advice.... 'Get a dealer you trust'... 'check spot'.....blah blah...

If you don't really have more of a handle on it than that, I don't think you should be selling anything more than one or two, or you may undercut yourself. I think you need to be wise and have a plan way ahead of time, or you may just be hoping for a good deal, as opposed to "managing a good deal" from a knowledgable stance:
Like will I start selling them during retirement, or in 5 years, or 10 years, or hold on forever...
Will I sell when I'm desparate for money, or keep aware and sell at best spot times?...
Do I sell certain amounts at peaks, even if I don't have to (you know, a plan..)?...

So, help me out, with some real selling advice;
-Like whether you can really get higher that spot and your premium returned, or expect closer to just plain spot or worst?
-Does it matter if you sell small single units, or a tube, or more at a time?
-Does it help to sell the set, such as the Silver Eagle set?
-Is there a good time to sell generics over eagles, and should those sales be keep separately?
-What's best to sell, rounds, bars, well-known items, 90% coinage? Do they sell differently at different times?
-Do I sell smaller amounts, to keep it private and away from watching uncle sam eyes?
-How private do you sell this stuff?
-Are taxes involved now?
-Can you expect more $premium at some time in the market, like when spot is on the upswing, or maybe the reverse? humm....
-Is it reasonable to say have bought at $30 with a $5 premium, and then sell later, ($50 spot) for spot or less and/or maybe less premium?
-How fast can one expect to sell at the sell decision time.
-How greedy do you get during the selling time/vs moving the items faster?
-Better on Craigs, Ebay where they may sell higher (but with the obvious bothers) (or sell to a dealer that can't realistically give you top dollar)?
-Bargaining; State your (realistic) price and hold to it, or bargin to get the sale? Overinflate and see what happens?
Serious stuff to consider. .............

I mean I'm seeing it now...
Folks rushing to sell after the spot peaks, -holding on till needing money desparately in retirement-selling with the worst advantages, worst yet - passing away, with the family selling off your hard earned treasures with little knowledge of their worth... I think if you are going to have some PMs, silver of various types in this discussion, you need a plan, and one documented for your family in case they have to sell for you. Savy or just hoping-I think a plan dictates this?

ps
Does gold need a different approach/discussion?

derryb

Lotta territory in those questions, most all of your questions have been addressed in the PM forum. Suggest you search them out with the search function one topic at a time.

Most physical metal holders don't sell on the peaks but do add to their holdings on the dips during the current metal bull market. Think of physical holdings as "insurance against bad economic policy" and plan on holding/stacking more until economic conditions drastically improve. I hold my savings in PMs to protect their value and will continue to do so until the PM bull market appears to be ending.

Premiums will be recovered if selling into a bull market. Whatevey you buy always think about ease of resale later. Silver Eagles are my choice for this reason.

IRS requires income tax payment on all profit; most individuals report using the capital gains/loss form - search irs.gov website for info.

Whatever answers you get for your silver questions will pretty much apply to gold as well.

Current spot price (I use kitco.com) plus premium dictates going prices on generic bullion.

jmski52

I think you need to be wise and have a plan way ahead of time, or you may just be hoping for a good deal, as opposed to "managing a good deal"

You can plan ahead all you want, but nothing stays the same. Even if you plan way ahead of time, how does that guarantee that you will be "managing a good deal"?

You could buy a 30 year bond with a 3.33% yield right now and never do anything but loose money on it if rates start going up and never look back.

There's no way to control the market, but you can control some of the risk. How you do that is mainly subject to your perspective on where things are headed.

If things start heading in the opposite direction, you stop and re-evaluate.

Tax planning and estate planning are important as well - no doubt about it. Again, you stop & re-evaluate as the rules change.

perkdog

I take the simple approach, I buy what I can afford and dont put all my eggs in one basket.

I look at buying Silver like I do gambling, I only buy what I can afford to lose.