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When to cash silver in for numismatic coins?
erwindoc
Posts: 5,456 āāāāā
Silver keeps running up and the silver eagles I have in addition to the britannias, maple leaf, libertad and pandas are looking like they could go towards a nice coin for the collection.
When are you going to cash out? 70? 75? 80? 100????
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I think Silver will top off at $80 sit for a while at that and then possibly move up again.
I see no reason for it to decrease in value.
Student of numismatics and collector of Morgan dollars
Successful BST transactions with: Namvet Justindan Mattniss RWW olah_in_MA
Dantheman984 Toyz4geo SurfinxHI greencopper RWW bigjpst bretsan MWallace logger7 JWP BruceS bigjpst
JWP PROMETHIUS88
I already started, albeit just a trickle, as it seems like some irrational exuberance is occurring.
But two market adages to keep in mind; 1. markets can stay irrational for a long time, and 2. Bulls and bears can make money, but pigs eventually get slaughtered.
@jmlanzaf that was a very educational read. I now know more than I did before. So right now the market is being artificially pushed up and not on stable ground.
I can believe it.
If people stop believing the prices will fall. I wonder how long it will last.
Student of numismatics and collector of Morgan dollars
Successful BST transactions with: Namvet Justindan Mattniss RWW olah_in_MA
Dantheman984 Toyz4geo SurfinxHI greencopper RWW bigjpst bretsan MWallace logger7 JWP BruceS bigjpst
JWP PROMETHIUS88
Samsung has developed new battery technology that will use roughly 1 kilogram of silver per car. Time frame is 2027. Cars will have 600 mile range and 80% charge in 9 minutes and 20 year life span. Could really ramp up silver use.
As I have mentioned before. I sold some off at $20 an oz. I sold more around $35 and received the same per roll. At some point I guess I will take some more in and see what it gets.
Completed All CAC approved Classic Head $5 set https://www.pcgs.com/setregistry/mysetregistry/album/344241
CBH Set https://www.pcgs.com/setregistry/everyman-collections/everyman-half-dollars/everyman-capped-bust-half-dollars-1807-1839/album/345572
Gold and Silver are in a bull market. Numismatic (non BV) coins seem stagnant. Slabbed bullion coins and Gold Type seeing huge demand. Been busy repricing stuff up where BV up lol.
The problem is finding someone locally who will pay a fair price. I've not had any luck so instead I've been selling my SLV ETF in increments.
I started at $50 as well... sold around $25 face value of 90% and a couple of other coins to fund my $3 gold Princess purchase...
Successful BST transactions with: SilverEagles92; Ahrensdad; Smitty; GregHansen; Lablade; Mercury10c; copperflopper; whatsup; KISHU1; scrapman1077, crispy, canadanz, smallchange, robkool, Mission16, ranshdow, ibzman350, Fallguy, Collectorcoins, SurfinxHI, jwitten, Walkerguy21D, dsessom.
Selling off many pounds over the last several months - $45, $55, $65, and on...
No no numismatic for me, thanks, siempre Bullion and slowly, slowly watching...
45 years ago I sold at $35 and felt bad when it went to $50. So this time I stood facing it again and now it's its $67. Goodby mercs, washingtons and Walkers. Raw only, no keys,
so far.
Jim
When a man who is honestly mistaken hears the truth, he will either quit being mistaken or cease to be honest....Abraham Lincoln
Patriotism is supporting your country all the time, and your government when it deserves it.....Mark Twain
Silver has a macro chart pattern 45 years in the making. $600 silver is coming. Foolish to sell any time soon.
Cash in bullion for numismatic coins? Are you kidding? Itās the other way around lol.
I cashed out all my junk silver and bullion back in 2011 when it hit $50. I think silver still has some room, so if I had any, now, I would hold,. I would be nervous, if I was sitting on a lot of gold, though. I think it has a propensity to drop from its current level, but that is purely speculation and opinion on my part, so who knows?? I wish I had a crystal ball.
Sometimes, itās better to be LUCKY than good. š šŗš
My Full Walker Registry Set (1916-1947):
https://www.ngccoin.com/registry/competitive-sets/16292/
I'm not a stacker, just slowly accumulated over the last 60 years. I didn't sell during the Hunt Brothers run up or any of the other surges thru the years. I'll let my grandkids sell after I'm gone.
$50 from 2012 is the equivalent of $70 today...
Jim
Thanks. Good point. Then I guess it was a pretty good decision. Now that I think about it, it was actually 2011, but whoās counting?
Sometimes, itās better to be LUCKY than good. š šŗš
My Full Walker Registry Set (1916-1947):
https://www.ngccoin.com/registry/competitive-sets/16292/
No rush:
Save your silver. It will continue to rise is my opinion.
Sell physicall and buy calls in your Roth allowing you to avoid capital gains taxes (in the roth).
There is a form for gains from selling gold and silver that the IRS has if you are so inclined.
I sold some of each to clear debt... but otherwise I use Peace dollars for tips for the garbage guys, labor crew etc but
Not going to sell anymore.. As long as everyone's health stays proper...
A lot of numismatics are in bubble area
So you are IMHO selling tops and buying tops...
I haven't sold any yet but may do so if there is a coin that I really want for my set.
Collector
Over 100 Positive BST transactions buying and selling with 57 members and counting!
instagram.com/klnumismatics
I might sell the small amount of .999 I have left, if I can sell it locally. Otherwise the majority of my silver now is in BU Peace and Morgan dollars. I enjoy those a lot more than .999.
Collector, occasional seller
$50.00 in 1980 has the same buying power as nearly $200 today. Ir would seem silver has a long way to go to match its incredible run 45 years ago.
Richard
Life Member #7070
I dont know how you can say there'll be a peak at a very set figure with the dynamics for upward price growth not abating any time soon.
This, the best I have heard recently locally is $40 for $1 face. Not a bad price but not a number that makes me want to rush down. Besides I'm not a stacker, I might have 10-15 ounces of junk 90% stuff at best so not much impact anyway.
My Collection of Old Holders
Never a slave to one plastic brand will I ever be.
Locked in at $69.50 an oz. for my bullion silver bars. Selling tomorrow afternoon. My buy-in averaged out to a tad over $18. I may use some of the proceeds for a numismatic coin but Iāll wait until after the holidays to decide.
Hey now!
That is my plan
š
"Inspiration exists, but it has to find you working" Pablo Picasso
$4500 gold and $70 silver looks great. A fun time to be in the hobby.
Completed All CAC approved Classic Head $5 set https://www.pcgs.com/setregistry/mysetregistry/album/344241
CBH Set https://www.pcgs.com/setregistry/everyman-collections/everyman-half-dollars/everyman-capped-bust-half-dollars-1807-1839/album/345572
Silver is far too valuable for money. But even if it were as plentiful as gold in Ft Knox it is too unstable for use as money. Sure you could set its value far above what supply and demand could cause and use it as money but then it would become too plentiful causing economic mayhem.
Silver is going much higher so there's no urgency to convert it to numismatic prizes but this conversion should be an ongoing process because the price is erratic and you want to lock in numismatic "profits" when they are available. You can always cull and upgrade later.
People should also trade back and forth with gold as the ratio goes up and down.
Silver and gold are money, pay no dividends but preserve purchasing power.
My stash is for my family and to protect their future so I no longer trade bullion.
I'm no survivalist, but I'm hedging against a time in the near future where paper becomes worthless and the new fiat has to once again be backed by gold and commodities.
Commems and Early Type
I had posted about this in the precious metals forum, but last week I sold an old sterling flatware set that was collecting dust for what I thought was a very healthy $4100ā¦. My fiancĆ©e and I are beginning the renovation of a historic house (1890ish ex-school house), and I can use the money for that, Iām pleased with the sale. Could I have gotten more if I waited? Perhaps
Other passions include golf, Moto Guzzi motorcycles, and Euro motorcycles in general.
Chris
There are many big financial bubbles now. It's anyone's guess when the game of musical chairs will be over with bubbles popping. Remember prior run-ups, the collapses were as impressive as the runs.
@jmlanzaf said:
Jmlanzaf continues to console himself for selling at $50 šš
If you are bullish on the silver price, then holding pure silver bullion or coins are best. The belief that leverage will accrue to numismatic coins appears to be a 1-time result of the lifting of gold and silver price controls in the 1970's.
Back then, you'd see PM's double or triple in price....but numismatics (at least the right ones) would go up 5-10 fold.
That has not been the case since the 1989 Coin Bubble.
If you want to hold silver but are sure we are headed for a sizeable correction, numismatics should go down less. Premiums are eroded in a rising market, expand in a falling market.
I sold 50oz at $42 simply because I wanted to take some profits... Do I wish I would have waited? Yes. I'm trying not to cry about it too much as I'm still sitting on the cash but I'm not even remotely interested in buying any of it back at this level.
I did already, to some degree.
... Sold most of my gold at $3500. Very happy with all the sales.
Yep. I unloaded nearly all of my gold last August and didn't care one bit when it started to climb a couple of weeks later. Had been holding onto just under 12 oz. in modern gold commemoratives for years and was thrilled to realize more than double my original investment.
Richard
Life Member #7070
Just returned from dumping all of my silver bullion. Took some nice profits and made some room in the vault.
No plans to ever buy silver bullion again, but I did keep a memento to have one copy of each ASE.
The gold will remain in my collection no matter what happens. My youngest daughter has a vested interest in it, which Iām happy about.
I sold 7,000 AG-G Standing Liberty Quarters about four months ago. Yes, I'm still pissed!
Dave
That was one of Scott Travers' theories in some of his books about making money in numismatics. It is as untrue today as it was 20 years ago though I remember $20 Libs. having big premiums at certain times in the 2000s, like being worth $1800 when melts were around $1200. Those days are long gone.