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

alifaxwa2 · April 25, 2012 12:54AM

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.

ttown · April 25, 2012 12:56AM

U answered your own question. Do it in 2 or 3 batches and average the risk IMO.

PerryHall · April 25, 2012 1:25AM

Put it on the BST. What do you have for sale?

jmski52 · April 25, 2012 1:33AM

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.

TheBigB · April 25, 2012 1:43AM

<< <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.

secondrepublic · April 25, 2012 2:21AM

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.

alifaxwa2 · April 25, 2012 2:26AM

Thanks everyone.

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

>>

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.

DoubleEagle59 · April 25, 2012 3:26AM

Short term predictions or advice regarding PM's is like flipping a coin.

That's what I'd recommend doing.

Staircoins · April 25, 2012 5:19AM

<< <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