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Thinking about selling my silver
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Author:  BroncoSport [ Mon May 02, 2011 8:19 pm ]
Post subject:  Thinking about selling my silver
Coins, that is. Silver is hovering around $45-49 an oz and the coin collection I have been squirreling away might need to go. I bought most of the coins around the $14 an oz range so I stand to make a really nice profit. Problem is, I am greedy and wonder if anyone here is like myself and wondering where the silver price is headed.

I got it all out last night and just in melt price I have about $3400. Some might bring more just from a numistic stance, but I don't know. Sure sounds like a great start to the empty watch fund! :)

sure wish I had bought the 10oz silver bars I WAS going to buy a year ago......
Author:  Sasho [ Tue May 03, 2011 4:22 am ]
Post subject:  Re: Thinking about selling my silver
Bronco, I would sell now and take a very decent profit. If your average price is around $14 an oz and as I type this silver spot is roughly $43.5 thats more than a 210% increase. Make the sale and materialize your profit. Take the emotion (greed) out of the equation and investing all together, it doesn't belong there. Like the saying in the market goes "bulls make money, bears make money, pigs get slaughtered" :wink:
Author:  MacApple [ Tue May 03, 2011 4:26 am ]
Post subject:  Re: Thinking about selling my silver
I am not sure how much higher silver can go, the price now is absolutely nutty. I had about 20 liberty dollar 1922 coins and sold them last year for a couple hundred bucks, if you don't need the money just sit on them , The price can always go up , but it can also drop... I am kicking myself for selling the 200 grams of gold I sold 5 years for next to nothing , although I still have about 100 grams of 14k jewelry ,and will hang on to it til it hits 1750 an ounce. No one ever thought it would get to 1500 ,and here we are hovering around 1550 an oz.
Author:  Roffensian [ Tue May 03, 2011 4:42 am ]
Post subject:  Re: Thinking about selling my silver
Sasho wrote:
Bronco, I would sell now and take a very decent profit. If your average price is around $14 an oz and as I type this silver spot is roughly $43.5 thats more than a 210% increase. Make the sale and materialize your profit. Take the emotion (greed) out of the equation and investing all together, it doesn't belong there. Like the saying in the market goes "bulls make money, bears make money, pigs get slaughtered" :wink:



Agreed. No one ever went broke taking a profit, and even if silver has more upside it's not doubling again and it's never going to pay you a dividend.
Author:  BroncoSport [ Tue May 03, 2011 5:22 am ]
Post subject:  Re: Thinking about selling my silver
Roffensian wrote:
Sasho wrote:
Bronco, I would sell now and take a very decent profit. If your average price is around $14 an oz and as I type this silver spot is roughly $43.5 thats more than a 210% increase. Make the sale and materialize your profit. Take the emotion (greed) out of the equation and investing all together, it doesn't belong there. Like the saying in the market goes "bulls make money, bears make money, pigs get slaughtered" :wink:



Agreed. No one ever went broke taking a profit, and even if silver has more upside it's not doubling again and it's never going to pay you a dividend.


That is very sound reasoning, right there. Guess I will be watching it over the next few days and making a trip to the coin shop! Thanks for the opinions, fellas.
Author:  sharkman [ Tue May 03, 2011 6:23 am ]
Post subject:  Re: Thinking about selling my silver
Quote:
Guess I will be watching it over the next few days


Well that has Freud all over it! :wink:
Author:  RJRJRJ [ Tue May 03, 2011 11:14 am ]
Post subject:  Re: Thinking about selling my silver
This thread made me remember that I had a bunch of silver pendants that I bought like 10 years ago (when I was 18) to sell for a profit. Never ended up doing anything with them and I just dug them out of a drawer. Almost 5.5 oz worth. Nice. Ill definitely be selling this crap.
Author:  hocke230 [ Sun May 08, 2011 6:53 pm ]
Post subject:  Re: Thinking about selling my silver
RJRJRJ wrote:
This thread made me remember that I had a bunch of silver pendants that I bought like 10 years ago (when I was 18) to sell for a profit. Never ended up doing anything with them and I just dug them out of a drawer. Almost 5.5 oz worth. Nice. Ill definitely be selling this crap.


Rjj I'll buy mark them
Author:  jlee5050 [ Sun May 08, 2011 11:37 pm ]
Post subject:  Re: Thinking about selling my silver
Ditto with the silver... I've got a bunch of silver too that I'm waiting to unload... As a test example, about two months ago I unloaded two rolls of pre-64 Kennedy dimes with a face value of 10 bucks on eBay... Got a little over $200 bucks for both of them... I think this was when the price was playing around $30/oz. Not too shabby I would say.

For the rest of my stash I set my target selling price at $50 but apparently I missed that and now it's gone down to low 40s again...

What to do what to do...
Author:  Tim S [ Mon May 09, 2011 12:09 pm ]
Post subject:  Re: Thinking about selling my silver
I hope you either sold it prior to or held onto it as the price of silver fairly tumbled last week. It's creeping back up but who knows where the price will go. I've heard that there's no reason why the price got that high in the first place but then I'm not an expert.
Author:  BroncoSport [ Mon May 09, 2011 1:04 pm ]
Post subject:  Re: Thinking about selling my silver
I didn't get to the coin shop in time to cash in on the high $40's price. So I am holding and watching right now. If it approaches or gets close to $45 I'm making the trip. I have all of it in a box waiting on the right time. The postal scale said around 4.7 pounds so I am very hopefull to get some money for the watch fund!!!!
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