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Need some free advice.
CaptHenway
Posts: 31,548 ✭✭✭✭✭
A friend of my sister who knows I used to be in the coin business has some 90% junk silver and wants to know if this is a good time to sell or not. I have no idea.
Looking at the spot price charts I see it is fairy stagnant. How are the premiums?
Any gut feelings on what it might do in the next six months?
Thanks.
TD
Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
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Premiums suck right now on 90% silver as a seller. As for market direction no idea
m
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
I wish I had a dollar for every time I've been wrong about the PM markets in my life. Is she making a decent profit? Or is she underwater? The former, sell, the latter, sell only if she needs the money now. Good luck Tom.
Kind regards,
George
If they need the cash now it's a good time to sell.
sell it on the BST for her
Keep an open mind, or get financially repressed -Zoltan Pozsar
Awful time to be a seller. Id hold and wait unless cash was needed. Many dealers are paying $1 back of spot on small quantities.
Probably get the same bucks today and the six months from now.
Stagnant is the word for sure. Advice? Well, the premiums have shrunk but sure is easy to sell. BST is the easiest way and no fees.
bob
I would recommend the BST if she wants to sell now.... PM's will likely remain relatively stable for a while.... a market crash could change that, however, it does not seem likely in the near term. Cheers, RickO
Agree.
If you can't find someone locally, then definitely go the bst route. No fees and you can get top dollar
Many members on this forum that now it cannot fit in my signature. Please ask for entire list.
It’s a buyers market wait till March or next rate hike from Feds
Best place to buy !
Bronze Associate member
I agree with your no fees statement, but getting top dollars is wishful thinking.
You'll usually do better on the BST than selling in many other venues including selling to coin dealers and bullion dealers. If you don't get your ask price you haven't lost anything other than some time.
Worry is the interest you pay on a debt you may not owe.
I wish my crystal ball was as clear. What makes you think that this is not a great time to sell. What if prices continue to decline as they have for the past 7 years?
Quite realistic
I'm buying
I'll post when selling
What if they don't continue to decline? What are the odds of each direction? There is no crystal ball. There is a careful calculation based on odds of a potential event that can push or pull on price.
Keep an open mind, or get financially repressed -Zoltan Pozsar
Personally I believe that the decline is almost certain. I've said many times before that the bottom is $8.50......Just my wild arse guess.
bob
I have seen the trend for several years and as far a premium over spot spread it is always better at end of 1st qtr but since she does not hedge, it seems with the market heating up no time like the present. Yet again, we may see a shift if congress keeps being idiots and fumble the tax plan. (already in process)
Best place to buy !
Bronze Associate member
Many people are saying that the chances of a government shut down increased today. If one does happen, I would expect the dollar to go down and precious metals to go up, but I have been wrong before.
Such turmoil these days, nationally and internationally!
The only things that have been stable are PM prices.
Here's a warning parable for coin collectors...
It's a good time. The market isn't going anywhere. Is it ? The margins are thin. They will forever be.
If she has a better use for the cash than having a pile (how big?) of junk silver, she should sell it and put the money to use another way. Any sentimental attachment? How greedy for every cent? How much time/life energy to devote to the transaction(s)?
Liberty: Parent of Science & Industry
Single digits, at least momentarily, in the next few years would not be a surprise. Being able to buy any physical at that level would be a surprise.
I think that there will be the same opportunity to buy at single digits. We sure bought before when it was 6 or 8 or 3.50. Always going to be traders. At least I don't see why not.
bob
Ballpark $1,000 face in 90% pulled from circulation in the mid-1960's, plus some 40% and maybe some Canadian silver. From what I know of the family, probably unsearched.
I agree that silver could conceivably drop to $10 or below. I am a buyer at anything below 18. Keep dropping. Silver is long term... maybe 5-10 years... but nobody really knows for sure.
hold and wait for the next rush of PM speculators. They have been distracted but they'll be back.
Keep an open mind, or get financially repressed -Zoltan Pozsar
Every generation enjoys a PM rally.
Knowledge is the enemy of fear
I enjoyed a bit of selling on the recent $18 spike and waiting for the next one and will take advantage of the short-lived flurry.
I dumped most of mine.
The only silver I see as worth owning or buying is Silver American Eagles and TEN oz bars.
Nix on one ounce rounds or 90%
IMO
And even then, I see no reason to expect SILVER to do anything lasting or consistent.
every PM rally enjoys a pessimist
Keep an open mind, or get financially repressed -Zoltan Pozsar
Consider it a savings account. If she needs the money, sell some. If she doesn't need the money, hold. With a mid-1960's cost basis (i.e., face value), she should pay much more attention to the tax consequences than to the actual selling price.
I knew it would happen.
If this is a rally, I’d hate to hear a pep talk.