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Posted: 3/12/2011 7:13:12 PM EDT
[#1]
it's at a 30 year or so high, one of the best times to sell IMHO. Of course a month from now it may be $50/oz, or $25, who knows? If you don't need the $ hold on to it
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Posted: 3/12/2011 7:18:11 PM EDT
[#2]
I'm sitting on a lot more than that.
When It hit $26 my brother sold all of his because in his words it was getting ready to plummet. If you don't have to have the money I would sit on for a while |
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Posted: 3/12/2011 7:20:43 PM EDT
[#3]
I would sell if I needed the money to pay off high-interest debt. Otherwise I'd hold.
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Posted: 3/12/2011 7:25:19 PM EDT
[#4]
You guys and girls are making this decision hard. I am not wealthy by any means and selling now could pay off my debts. That being said would you sell to pay off debt or take the gamble and hopefully pay off debt and add to the savings. I appreciate the input so far.
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Posted: 3/12/2011 7:27:57 PM EDT
[#5]
Quoted:
You guys and girls are making this decision hard. I am not wealthy by any means and selling now could pay off my debts. That being said would you sell to pay off debt or take the gamble and hopefully pay off debt and add to the savings. I appreciate the input so far. If $1,200 will pay off debt, you don't NEED to sell... hold it, the upside is too great to sell and miss potential gains in my opinion. $1,200 is nothing... I'm paying DOWN my debt by more than that a month. I'm not wealthy either... I probably have a negative net worth if you don't include the value of my pension. |
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Posted: 3/12/2011 7:33:11 PM EDT
[#6]
Sell enough to become debt free.
Sit on the rest til needed. CP |
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Posted: 3/12/2011 7:36:08 PM EDT
[#7]
Quoted:
Sell enough to become debt free. Sit on the rest til needed. CP Assuming his debts are fixed rate or capped he may well be better off holding for a bit. A credit card at 20% and a thousand dollar balance will be $1,200 in a year assuming no payments are made. I'm guessing silver is going up more than 20% in the next year... |
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Posted: 3/12/2011 7:38:33 PM EDT
[#8]
I predict silver at $50 by the end of the year with some rough spots along the way. If it gets into the $75-$85 range then it has either topped or the economy has gone full retard (ie. The dollar is no longer the world's reserve currency).
It's a volatile market. I bought 175+ oz between Jan. 1 and Mar1. And I'm up over $1200. That being said, I'm looking at this long term, as in 20-30 year PM cycle and I fully expect silver to dive big time in that cycle, at which point I'll buy more. But I also expect it to recover stronger in the next 20 years. But this is all conjecture and I didn't sleep in a Holiday Inn Express last night. Posted Via AR15.Com Mobile |
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Posted: 3/12/2011 7:42:29 PM EDT
[#9]
Quoted:
Is now the time to sell? I have an small coin collection given to me by my grandfather about 15 years ago. His specific instructions were to get rid of them when the time was right. I went through about a 1/4 of the collection tonight and got a value around $1200.00 according to some online calculators. Multiplied by 4 is $4800. I don't really have the desire to get rid of them but don't want to miss out on some cash I might regret later. What do you think? If you think silver will climb higher, hold. If you think it will drop, sell. Either way, sell enough to pay off your debts and make sure you have a decent emergency fund. You don't want to have your own personal SHTF* that coincides with a plummeting over silver, or which can't wait for the you to find a willing buyer. I'd much rather eat the potential future gains and be safe and secure now than to gamble on it going up and have something bad happen in the mean time. *Getting fired, losing your car, losing your house, any number of issues which can suddenly and immediately strain your finances. |
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Posted: 3/12/2011 7:42:54 PM EDT
[#10]
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Posted: 3/12/2011 7:51:04 PM EDT
[#11]
Quoted:
Quoted:
Sell enough to become debt free. Sit on the rest til needed. CP Assuming his debts are fixed rate or capped he may well be better off holding for a bit. A credit card at 20% and a thousand dollar balance will be $1,200 in a year assuming no payments are made. I'm guessing silver is going up more than 20% in the next year... I have about $1800.00 left on my truck.. My wife has roughly $2800 in credit card debt. She wants to sell I want to wait. |
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Posted: 3/12/2011 7:51:24 PM EDT
[#12]
Hold.
I purchased just recently at $34/oz. I made a lot off the gold spike and plan to do the same with silver. Silver has lots of room to grow right now and seeing $50/oz is not far fetched. Historically adjusted for inflation it has hit a high of $80/oz in the past. |
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Posted: 3/12/2011 7:54:43 PM EDT
[#13]
Quoted:
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Sell enough to become debt free. Sit on the rest til needed. CP Assuming his debts are fixed rate or capped he may well be better off holding for a bit. A credit card at 20% and a thousand dollar balance will be $1,200 in a year assuming no payments are made. I'm guessing silver is going up more than 20% in the next year... I have about $1800.00 left on my truck.. My wife has roughly $2800 in credit card debt. She wants to sell I want to wait. Do you have any money in the bank? How many months can you live without income? |
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Posted: 3/12/2011 7:56:43 PM EDT
[#14]
Do you need the cash money right now? If not, hold onto it. It may go up it may go down, does not matter as there is no associated cost on the silver to you. If you sell it just to sell it, invest it in SOMETHING. Even it is a new firearm.
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Posted: 3/12/2011 7:56:49 PM EDT
[#15]
Quoted:
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Sell enough to become debt free. Sit on the rest til needed. CP Assuming his debts are fixed rate or capped he may well be better off holding for a bit. A credit card at 20% and a thousand dollar balance will be $1,200 in a year assuming no payments are made. I'm guessing silver is going up more than 20% in the next year... I have about $1800.00 left on my truck.. My wife has roughly $2800 in credit card debt. She wants to sell I want to wait. Do you have any money in the bank? How many months can you live without income? I don't see silver dropping anytime soon... he sells now and applies to debt and he loses his job... well he still has debt that went down a little in monthly payments, but no silver. I'd hold the silver expecting it to go up, but also knowing it is an emergency reserve if needed. Continue to pay down debt as fast as he can knowing his silver is a lifeline if needed. |
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Posted: 3/12/2011 8:00:20 PM EDT
[#16]
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Sell enough to become debt free. Sit on the rest til needed. CP Assuming his debts are fixed rate or capped he may well be better off holding for a bit. A credit card at 20% and a thousand dollar balance will be $1,200 in a year assuming no payments are made. I'm guessing silver is going up more than 20% in the next year... I have about $1800.00 left on my truck.. My wife has roughly $2800 in credit card debt. She wants to sell I want to wait. Do you have any money in the bank? How many months can you live without income? I don't see silver dropping anytime soon... he sells now and applies to debt and he loses his job... well he still has debt that went down a little in monthly payments, but no silver. I'd hold the silver expecting it to go up, but also knowing it is an emergency reserve if needed. Continue to pay down debt as fast as he can knowing his silver is a lifeline if needed. How quickly can he sell $4600 in silver if he suddenly loses his job? This isn't a PM thing for me, this is a "you have the assets to pay off you debt right now" thing. He'll be in a much safer position without debt and with an emergency fund of some kind than with debt, no fund and the possibility of future gains. If silver's going to stay above the current price so steadily, he can easily buy it back once he's paid off his debts. Heck, he can even just apply all the money he was paying to service those debts directly into buying silver each month. Trust me, it's a lot easier to invest and buy things when you don't have debt. Edit: If he had non-penalty (i.e. 401k) stocks, I'd advise selling those as well, despite the fact that I consider stocks to be a stronger long-term investment than silver. The fact that's it's silver is just irrelevant. |
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Posted: 3/12/2011 8:00:25 PM EDT
[#17]
Hold on to it. In a few years you will be happy with your decision.
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Posted: 3/12/2011 8:02:06 PM EDT
[#18]
Have you checked the value of the coins themselves? Might be better to sell for it's numismatic value.
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Posted: 3/12/2011 8:02:59 PM EDT
[#19]
Quoted:
Is now the time to sell? I have an small coin collection given to me by my grandfather about 15 years ago. His specific instructions were to get rid of them when the time was right. I went through about a 1/4 of the collection tonight and got a value around $1200.00 according to some online calculators. Multiplied by 4 is $4800. I don't really have the desire to get rid of them but don't want to miss out on some cash I might regret later. What do you think? I wouldn't trade silver for paper with green ink on it. Not while Madman Bernanke is in charge of the paper. |
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Posted: 3/12/2011 8:07:40 PM EDT
[#20]
Quoted: Hold on to it. In a few years you will be happy with your decision. ^ Absolutely. |
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Posted: 3/12/2011 8:08:27 PM EDT
[#21]
Where would someone sell silver at?
I have a few 1 Troy Oz. "coins" and a tone of silver coins. Just a thought as I haven't seen it this high and it may or may not ever be this price again...or it could be even higher! 
BigDozer66 |
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Posted: 3/12/2011 8:08:55 PM EDT
[#22]
Quoted:
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Sell enough to become debt free. Sit on the rest til needed. CP Assuming his debts are fixed rate or capped he may well be better off holding for a bit. A credit card at 20% and a thousand dollar balance will be $1,200 in a year assuming no payments are made. I'm guessing silver is going up more than 20% in the next year... I have about $1800.00 left on my truck.. My wife has roughly $2800 in credit card debt. She wants to sell I want to wait. Do you have any money in the bank? How many months can you live without income? I don't see silver dropping anytime soon... he sells now and applies to debt and he loses his job... well he still has debt that went down a little in monthly payments, but no silver. I'd hold the silver expecting it to go up, but also knowing it is an emergency reserve if needed. Continue to pay down debt as fast as he can knowing his silver is a lifeline if needed. How quickly can he sell $4600 in silver if he suddenly loses his job? This isn't a PM thing for me, this is a "you have the assets to pay off you debt right now" thing. He'll be in a much safer position without debt and with an emergency fund of some kind than with debt, no fund and the possibility of future gains. If silver's going to stay above the current price so steadily, he can easily buy it back once he's paid off his debts. Heck, he can even just apply all the money he was paying to service those debts directly into buying silver each month. Trust me, it's a lot easier to invest and buy things when you don't have debt. Edit: If he had non-penalty (i.e. 401k) stocks, I'd advise selling those as well, despite the fact that I consider stocks to be a stronger long-term investment than silver. The fact that's it's silver is just irrelevant. How quickly can he sell silver? lol... how long does it take to drive to the coin shop or list it on CL. There is NO issue moving precious metals that I have EVER experienced. My coin dealer will buy it whether it is $3 and ounce or $100 and he has cash on hand to do it. Let's put it this way. He has debt and some assets... he sells off assets and has less debt, but still has debt. He loses his job. He can temporarily stop paying debt and deal with it when he is back on his feet. Whether he pays down debt or not, right now he does not have the ability to pay OFF his debt. So the question is debt to assets. Right now he has $4,600 debt and $1,200 asset. If he sells off the silver he has $3,400 debt and zero asset/reserve. Tomorrow he loses his job... which do you think is the better position to be in? |
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Posted: 3/12/2011 8:11:36 PM EDT
[#23]
See what the Fed does in June. QE2 ends at that time. When/if they stop buying our own treasuries anything could happen
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Posted: 3/12/2011 8:11:51 PM EDT
[#24]
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Sell enough to become debt free. Sit on the rest til needed. CP Assuming his debts are fixed rate or capped he may well be better off holding for a bit. A credit card at 20% and a thousand dollar balance will be $1,200 in a year assuming no payments are made. I'm guessing silver is going up more than 20% in the next year... I have about $1800.00 left on my truck.. My wife has roughly $2800 in credit card debt. She wants to sell I want to wait. Do you have any money in the bank? How many months can you live without income? I don't see silver dropping anytime soon... he sells now and applies to debt and he loses his job... well he still has debt that went down a little in monthly payments, but no silver. I'd hold the silver expecting it to go up, but also knowing it is an emergency reserve if needed. Continue to pay down debt as fast as he can knowing his silver is a lifeline if needed. How quickly can he sell $4600 in silver if he suddenly loses his job? This isn't a PM thing for me, this is a "you have the assets to pay off you debt right now" thing. He'll be in a much safer position without debt and with an emergency fund of some kind than with debt, no fund and the possibility of future gains. If silver's going to stay above the current price so steadily, he can easily buy it back once he's paid off his debts. Heck, he can even just apply all the money he was paying to service those debts directly into buying silver each month. Trust me, it's a lot easier to invest and buy things when you don't have debt. Edit: If he had non-penalty (i.e. 401k) stocks, I'd advise selling those as well, despite the fact that I consider stocks to be a stronger long-term investment than silver. The fact that's it's silver is just irrelevant. How quickly can he sell silver? lol... how long does it take to drive to the coin shop or list it on CL. There is NO issue moving precious metals that I have EVER experienced. My coin dealer will buy it whether it is $3 and ounce or $100 and he has cash on hand to do it. Let's put it this way. He has debt and some assets... he sells off assets and has less debt, but still has debt. He loses his job. He can temporarily stop paying debt and deal with it when he is back on his feet. Whether he pays down debt or not, right now he does not have the ability to pay OFF his debt. So the question is debt to assets. Right now he has $4,600 debt and $1,200 asset. If he sells off the silver he has $3,400 debt and zero asset/reserve. Tomorrow he loses his job... which do you think is the better position to be in? My reading is that the $1200 represents 1/4 of his silver holdings. He has $4800 in assets. |
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Posted: 3/12/2011 8:12:47 PM EDT
[#25]
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Sell enough to become debt free. Sit on the rest til needed. CP Assuming his debts are fixed rate or capped he may well be better off holding for a bit. A credit card at 20% and a thousand dollar balance will be $1,200 in a year assuming no payments are made. I'm guessing silver is going up more than 20% in the next year... I have about $1800.00 left on my truck.. My wife has roughly $2800 in credit card debt. She wants to sell I want to wait. Do you have any money in the bank? How many months can you live without income? I don't see silver dropping anytime soon... he sells now and applies to debt and he loses his job... well he still has debt that went down a little in monthly payments, but no silver. I'd hold the silver expecting it to go up, but also knowing it is an emergency reserve if needed. Continue to pay down debt as fast as he can knowing his silver is a lifeline if needed. How quickly can he sell $4600 in silver if he suddenly loses his job? This isn't a PM thing for me, this is a "you have the assets to pay off you debt right now" thing. He'll be in a much safer position without debt and with an emergency fund of some kind than with debt, no fund and the possibility of future gains. If silver's going to stay above the current price so steadily, he can easily buy it back once he's paid off his debts. Heck, he can even just apply all the money he was paying to service those debts directly into buying silver each month. Trust me, it's a lot easier to invest and buy things when you don't have debt. Edit: If he had non-penalty (i.e. 401k) stocks, I'd advise selling those as well, despite the fact that I consider stocks to be a stronger long-term investment than silver. The fact that's it's silver is just irrelevant. How quickly can he sell silver? lol... how long does it take to drive to the coin shop or list it on CL. There is NO issue moving precious metals that I have EVER experienced. My coin dealer will buy it whether it is $3 and ounce or $100 and he has cash on hand to do it. Let's put it this way. He has debt and some assets... he sells off assets and has less debt, but still has debt. He loses his job. He can temporarily stop paying debt and deal with it when he is back on his feet. Whether he pays down debt or not, right now he does not have the ability to pay OFF his debt. So the question is debt to assets. Right now he has $4,600 debt and $1,200 asset. If he sells off the silver he has $3,400 debt and zero asset/reserve. Tomorrow he loses his job... which do you think is the better position to be in? I understood OP to say his collection is worth $4800. |
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Posted: 3/12/2011 8:14:41 PM EDT
[#26]
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Sell enough to become debt free. Sit on the rest til needed. CP Assuming his debts are fixed rate or capped he may well be better off holding for a bit. A credit card at 20% and a thousand dollar balance will be $1,200 in a year assuming no payments are made. I'm guessing silver is going up more than 20% in the next year... I have about $1800.00 left on my truck.. My wife has roughly $2800 in credit card debt. She wants to sell I want to wait. Do you have any money in the bank? How many months can you live without income? I don't see silver dropping anytime soon... he sells now and applies to debt and he loses his job... well he still has debt that went down a little in monthly payments, but no silver. I'd hold the silver expecting it to go up, but also knowing it is an emergency reserve if needed. Continue to pay down debt as fast as he can knowing his silver is a lifeline if needed. How quickly can he sell $4600 in silver if he suddenly loses his job? This isn't a PM thing for me, this is a "you have the assets to pay off you debt right now" thing. He'll be in a much safer position without debt and with an emergency fund of some kind than with debt, no fund and the possibility of future gains. If silver's going to stay above the current price so steadily, he can easily buy it back once he's paid off his debts. Heck, he can even just apply all the money he was paying to service those debts directly into buying silver each month. Trust me, it's a lot easier to invest and buy things when you don't have debt. Edit: If he had non-penalty (i.e. 401k) stocks, I'd advise selling those as well, despite the fact that I consider stocks to be a stronger long-term investment than silver. The fact that's it's silver is just irrelevant. How quickly can he sell silver? lol... how long does it take to drive to the coin shop or list it on CL. There is NO issue moving precious metals that I have EVER experienced. My coin dealer will buy it whether it is $3 and ounce or $100 and he has cash on hand to do it. Let's put it this way. He has debt and some assets... he sells off assets and has less debt, but still has debt. He loses his job. He can temporarily stop paying debt and deal with it when he is back on his feet. Whether he pays down debt or not, right now he does not have the ability to pay OFF his debt. So the question is debt to assets. Right now he has $4,600 debt and $1,200 asset. If he sells off the silver he has $3,400 debt and zero asset/reserve. Tomorrow he loses his job... which do you think is the better position to be in? My reading is that the $1200 represents 1/4 of his silver holdings. He has $4800 in assets. Missed that, thank you... I still wouldn't sell it off entirely. Maybe sell enough to pay off the vehicle so it is owned free and clear and is a sellable asset. I would not under any circumstances sell it all off and have no cash on hand, even if debt free. Debt in a small amount is manageable, but you still need cash to pay bills unless the idea is to incur more debt. Who knows, maybe the other 3/4 of the coins contain something truly rare and valuable. |
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Posted: 3/12/2011 8:15:02 PM EDT
[#27]
I have experience in this!!
I made a killing back in 1980 as I sold it a few weeks before the crash , by killing I mean I was a teenager with an ass load of silver coins saved and when the price shot up to $50.00 an ounce that was my "price" I chose to sell at so I sold. So I say hold on for a while longer as it just might double that or more.
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Posted: 3/12/2011 8:15:31 PM EDT
[#28]
I'd hold. But I'm always buying. What do you think? Are things getting better? Will the crap going on in the middle east help, or hinder, the price of oil? If oil goes up, what happens to everything else?
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Posted: 3/12/2011 8:16:44 PM EDT
[#29]
Ok, I calculated the rest of what I have and just at melt value (if that's what you call it) it roughly $5400.00. I think I will hold on for awhile. I don't know if any are worth more due to rarity or condition. I'm going to try and get an actual appraisal done in the next few weeks. Thanks for the replies.
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Posted: 3/12/2011 8:19:23 PM EDT
[#30]
Quoted:
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I don't see silver dropping anytime soon... he sells now and applies to debt and he loses his job... well he still has debt that went down a little in monthly payments, but no silver. I'd hold the silver expecting it to go up, but also knowing it is an emergency reserve if needed. Continue to pay down debt as fast as he can knowing his silver is a lifeline if needed. How quickly can he sell $4600 in silver if he suddenly loses his job? This isn't a PM thing for me, this is a "you have the assets to pay off you debt right now" thing. He'll be in a much safer position without debt and with an emergency fund of some kind than with debt, no fund and the possibility of future gains. If silver's going to stay above the current price so steadily, he can easily buy it back once he's paid off his debts. Heck, he can even just apply all the money he was paying to service those debts directly into buying silver each month. Trust me, it's a lot easier to invest and buy things when you don't have debt. Edit: If he had non-penalty (i.e. 401k) stocks, I'd advise selling those as well, despite the fact that I consider stocks to be a stronger long-term investment than silver. The fact that's it's silver is just irrelevant. How quickly can he sell silver? lol... how long does it take to drive to the coin shop or list it on CL. There is NO issue moving precious metals that I have EVER experienced. My coin dealer will buy it whether it is $3 and ounce or $100 and he has cash on hand to do it. Let's put it this way. He has debt and some assets... he sells off assets and has less debt, but still has debt. He loses his job. He can temporarily stop paying debt and deal with it when he is back on his feet. Whether he pays down debt or not, right now he does not have the ability to pay OFF his debt. So the question is debt to assets. Right now he has $4,600 debt and $1,200 asset. If he sells off the silver he has $3,400 debt and zero asset/reserve. Tomorrow he loses his job... which do you think is the better position to be in? My reading is that the $1200 represents 1/4 of his silver holdings. He has $4800 in assets. Missed that, thank you... I still wouldn't sell it off entirely. Maybe sell enough to pay off the vehicle so it is owned free and clear and is a sellable asset. I would not under any circumstances sell it all off and have no cash on hand, even if debt free. Debt in a small amount is manageable, but you still need cash to pay bills unless the idea is to incur more debt. Who knows, maybe the other 3/4 of the coins contain something truly rare and valuable. Good point. He needs to have at least ~$1000 in the bank to see him through a temporary setback (transmission dies, etc). I also agree that getting rid of the truck debt is more important than the credit card debt. Worst case with the truck, you lose your truck. Worst realistic case with the credit card, they ding your credit. I'd still advise he sell it all now, pay off all his debt, then (assuming he thinks silver will continue to rise) purchase as much silver as he can without going back into debt or compromising his emergency fund. He'll lose out on potential growth from the silver, but at least be in a solid position to make more investment decisions in the future. |
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Posted: 3/12/2011 8:21:48 PM EDT
[#31]
Quoted:
Ok, I calculated the rest of what I have and just at melt value (if that's what you call it) it roughly $5400.00. I think I will hold on for awhile. I don't know if any are worth more due to rarity or condition. I'm going to try and get an actual appraisal done in the next few weeks. Thanks for the replies. At least pay off the truck and get ~$1000 in the bank for emergencies. |
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Posted: 3/12/2011 8:22:55 PM EDT
[#32]
Quoted:
Ok, I calculated the rest of what I have and just at melt value (if that's what you call it) it roughly $5400.00. I think I will hold on for awhile. I don't know if any are worth more due to rarity or condition. I'm going to try and get an actual appraisal done in the next few weeks. Thanks for the replies. Anything of true collector's value, like uncirculated Carson City silver dollars will not fluctuate much due to the price of silver, their value is in their rarity. If you have something like that and need to sell, consider moving those first. You won't need to sell as much to get the cash you need by moving the collectibles. My reasoning is this, scrap silver has more room for movement upward, and if the SHTF and there is a true economic collapse, my belief is that Carson City dollar will be worth pretty much melt... collector's value would mean nothing under those circumstances. |
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Posted: 3/12/2011 8:27:11 PM EDT
[#33]
Every time I get the urge to buy into PMs, I look at that historical chart. Every time, without fail, it sways me to wait until things become a bit more sane in the market. |
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Posted: 3/13/2011 6:31:56 AM EDT
[#34]
Quoted: Is now the time to sell? I have an small coin collection given to me by my grandfather about 15 years ago. His specific instructions were to get rid of them when the time was right. I went through about a 1/4 of the collection tonight and got a value around $1200.00 according to some online calculators. Multiplied by 4 is $4800. I don't really have the desire to get rid of them but don't want to miss out on some cash I might regret later. What do you think? If you have to ask if the time is right maybe it's not right. For me the right time would be when I needed to sell the silver to eat. Maybe I'd get $2/oz at that point.....maybe $2billion/oz. I would not rule out either price. But with the rate we're printing dollars at, I'd say $2billion/oz is higher probability than $2/oz. |
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Posted: 3/13/2011 6:38:35 AM EDT
[#35]
If you are not broke and can pay bills now hold it. I see prices houng higher. The 10- ten oz. bars I have where bought at $15/oz. Wife thought I was nuts, not so much now.
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Posted: 3/13/2011 6:54:20 AM EDT
[#36]
There is already more than enough information in this thread to help you make an informed decision.
I will only add that I'm not selling a thing right now. The market isn't done...and even when the aggressive gains subside, fall, and plateau, over the long haul metals will still gain. I'd hold your silver if I was you. |
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Posted: 3/14/2011 7:24:41 PM EDT
[#37]
I am buying on a schedule of 10oz per month. Im in it for the long run. In 15-20 years I figure I will be able to make a little on the metal. Just bought ten ounces this evening.
I am curious how the disaster in Japan and the rising instability in the mideast will effect silver prices? |
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Posted: 3/14/2011 7:35:25 PM EDT
[#38]
Personally I am holding, it is just one of three barter or SHTF currency's I'm planning to use.
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Posted: 3/14/2011 7:41:09 PM EDT
[#39]
Quoted:
Personally I am holding, it is just one of three barter or SHTF currency's I'm planning to use. Given the current state of the world, I cannot see any fallacy in your plans. |
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Posted: 3/14/2011 7:47:53 PM EDT
[#40]
Quoted: If you are not broke and can pay bills now hold it. I see prices houng higher. The 10- ten oz. bars I have where bought at $15/oz. Wife thought I was nuts, not so much now. same here I have a fair amount I bought at $12 and about the same amount I bought at $18 I was second guessing the purchase at $18 LOL |
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Posted: 3/14/2011 7:49:39 PM EDT
[#41]
Quoted:
Quoted:
If you are not broke and can pay bills now hold it. I see prices houng higher. The 10- ten oz. bars I have where bought at $15/oz. Wife thought I was nuts, not so much now. same here I have a fair amount I bought at $12 and about the same amount I bought at $18 I was second guessing the purchase at $18 LOL I'm still buying at the current price. |
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Posted: 3/14/2011 7:52:26 PM EDT
[#42]
Has the gov started any measures to seriously fix the debt? Has gas prices stabilized? How sure are you you won't get laid off? Has the middle east settled down yet? Have you got my drift yet? Now is the time to hang on to metals. If you need it to make the mortgage then thats different.
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Posted: 3/14/2011 7:58:17 PM EDT
[#43]
Quoted:
Has the gov started any measures to seriously fix the debt? Has gas prices stabilized? How sure are you you won't get laid off? Has the middle east settled down yet? Have you got my drift yet? Now is the time to hang on to metals. If you need it to make the mortgage then thats different. Might as well pay off the mortgage with devalued dollars, keep the PMs for wealth and when it all goes to shit. |
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Posted: 3/14/2011 8:59:07 PM EDT
[#44]
Quoted: Is now the time to sell? I have an small coin collection given to me by my grandfather about 15 years ago. His specific instructions were to get rid of them when the time was right. I went through about a 1/4 of the collection tonight and got a value around $1200.00 according to some online calculators. Multiplied by 4 is $4800. I don't really have the desire to get rid of them but don't want to miss out on some cash I might regret later. What do you think? NO... all the fundamentals look to a significant increase in silver over the next couple of years and long term. We could very easily see a short squeeze and silver reach $50 this summer or by the end of the year. There is no fundamental reason for the price to go down other then a short term correction, NONE. Only the emotion of wanting to take profits (which is natural but also the curse of the bull). Selling silver right now would be like someone selling gold after it hit $400. this is my opinion based on research and not investment advice. |
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Posted: 3/14/2011 9:10:28 PM EDT
[#45]
Quoted:
I have about $1800.00 left on my truck.. My wife has roughly $2800 in credit card debt. She wants to sell I want to wait. YOUR grandfather gave the silver to YOU. Your wife has more debt than you and of course she wants you to sell it to bail her out. What's she offering to bring to the table to offset you getting rid of your grandfather's gift? [This is assuming you've been married less than 15 years, that your wife wasn't in the picture when you got the silver.] |
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Posted: 3/14/2011 9:27:13 PM EDT
[#46]
I wouldn't cash in your silver to pay off a truck if you only have $1200 left. What is that, 5 months? Silver could go up another $10/oz in that time. Also, a car loan is relatively low interest and front end loaded, amortized loan, so you've paid the bulk of your interest already.
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Posted: 3/14/2011 9:30:14 PM EDT
[#47]
I would never sell an asset like that if my grandfather had given it to me. NEVER!
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Posted: 3/14/2011 9:47:23 PM EDT
[#48]
I bought at $7 an ounce, and I hope it goes down again so I can buy more.
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Posted: 3/14/2011 9:55:32 PM EDT
[#49]
Quoted:
Is now the time to sell? I have an small coin collection given to me by my grandfather about 15 years ago. His specific instructions were to get rid of them when the time was right. I went through about a 1/4 of the collection tonight and got a value around $1200.00 according to some online calculators. Multiplied by 4 is $4800. I don't really have the desire to get rid of them but don't want to miss out on some cash I might regret later. What do you think?[/quote] Questions need to be answered. 1. Do you have long term food storage (6 months worth)? 2. Do you have Rifle/Pistol and ammo for both (1k rifle/300 pistol)? 3. Pay off your debt. In that order is how I would spend it. Look, right now is a great time to sell. Then again, maybe you should be buying the shit out of it......nobody knows the future. Start with 1/2/3 and pray about it. Your grandfather was a good man to pass it down to you....don't piss it away on stupid stuff. Lets Roll! |
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Posted: 3/14/2011 10:17:57 PM EDT
[#50]
You probably ought to hang on to some or all of it as part of your preps.
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