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Must cash out soon...do it now or later?

alifaxwa2alifaxwa2 Posts: 3,102 ✭✭✭
in Precious Metals
I have a very small stash of gold/silver (around ~$1K current value) that I will have to cash out to help with moving expenses this summer.

Not doing it is not an option, so I wanted opinions on whether you expect PMs to be higher now or in August?

I am leaning toward doing half now and half then just to mitigate the little risk involved.
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Comments

  • ttownttown Posts: 4,472 ✭✭✭
    U answered your own question. Do it in 2 or 3 batches and average the risk IMO.
  • PerryHallPerryHall Posts: 46,111 ✭✭✭✭✭
    Put it on the BST. What do you have for sale?image

    Worry is the interest you pay on a debt you may not owe.
    "Paper money eventually returns to its intrinsic value---zero."----Voltaire
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  • jmski52jmski52 Posts: 22,822 ✭✭✭✭✭
    Check with Silvertowne, Scotsman, Tulving, and a local guy if you have a reasonable one. Also, like Perry Hall suggests - BST since you have some time to work with.

    Your biggest risk is doing it in a rush at the last minute. I don't think anyone knows what the market will be doing, but we are coming up on what is traditionally a slack time for precious metals. These days, that doesn't necessarily apply.
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  • TheBigBTheBigB Posts: 942 ✭


    << <i>I am leaning toward doing half now and half then just to mitigate the little risk involved. >>



    For the amounts involved, that seems like a reasonable course of action.
  • secondrepublicsecondrepublic Posts: 2,619 ✭✭✭
    If you definitely need $1,000 and your PMs are worth that currently, I would sell all of it now. If they tank before you sell them, you'll be stuck.
    "Men who had never shown any ability to make or increase fortunes for themselves abounded in brilliant plans for creating and increasing wealth for the country at large." Fiat Money Inflation in France, Andrew Dickson White (1912)
  • alifaxwa2alifaxwa2 Posts: 3,102 ✭✭✭
    Thanks everyone.



    << <i>Put it on the BST. What do you have for sale?image >>



    16 ASE, mixed dates, 1 panda, 1 maple leaf, 6 total morgan/peace, ~0.12oz gold weight jewelry, couple dollars loose 90%.

    I was probably going to use the BST when the time came Other than buying 2 ASEs from one of them when silver was $17, I have no relationship with the local BMs other once years ago, I asked a different one whether the mid50's NGC-PF68 dime and nickel I had bought in the early 90s (I was 12 then, early 20s when I asked) were worth much. He laughed and asked why in the world would I buy those.



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  • DoubleEagle59DoubleEagle59 Posts: 8,307 ✭✭✭✭✭
    Short term predictions or advice regarding PM's is like flipping a coin.

    That's what I'd recommend doing.
    "Gold is money, and nothing else" (JP Morgan, 1912)

    "“Those who sacrifice liberty for security/safety deserve neither.“(Benjamin Franklin)

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  • StaircoinsStaircoins Posts: 2,566 ✭✭✭


    << <i>If you definitely need $1,000 and your PMs are worth that currently, I would sell all of it now. If they tank before you sell them, you'll be stuck. >>

    +1
  • johnny9434johnny9434 Posts: 28,304 ✭✭✭✭✭
    hope ya make plenty
  • derrybderryb Posts: 36,792 ✭✭✭✭✭
    make the metal savings withdrawal, that's what it's there for.

    "Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey

  • BarndogBarndog Posts: 20,490 ✭✭✭✭✭
    chances are you can get someone to buy all the silver with one lot to help you save on shipping costs.
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  • dpooledpoole Posts: 5,940 ✭✭✭✭✭
    I have no advice to offer, save to admire your avatar. image

    Here's a warning parable for coin collectors...



  • streeterstreeter Posts: 4,312 ✭✭✭✭✭


    << <i>I have no advice to offer, save to admire your avatar. image >>



    excellent
    Have a nice day
  • mkman123mkman123 Posts: 6,849 ✭✭✭✭
    sell when you have to, and when you have to, do it on the bst, no fees
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