I too sold some (.999) today

[jrf30]

Seems numerous people are selling. I want to own silver, but seeing prices where they are tempted me to sell a little of what I have. I sold some 40% a week ago, and today sold 100 of my silver eagles. That's less than 5% of my total, so I'm not aggressively selling, but I recieved $24.20 per coin, which I thought was good. That's $2 over spot, and it's been trading about $1.60 over spot, so the increase in premium was what made me sell. If it dips back to $1.50 over spot, and spot is at $22, that is back to $23.50 for me to maybe buy some back. Or lower. I'd like to see it dip again, although the other 95% of my holding says it is better to continue to go UP. :-)

And I'm still waiting for the day the dollar dies and silver jumps $20 per ounce in one day! SOunds kooky, but if fiat dies, gold and silver reign. We'll see ...

 

Amazon Forum Fav 👍

Minelab PRO-FIND 35 Waterproof Pinpointer Metal Detector for Experts with Tone ID & Adjustable Sensitivity - Grab it through Amazon!

[Iheartmoney]

May I ask how much you got for the 40%'s.

 

[d2arcing]

so you have 2000 silver eagles, you got some hoard..

 

[jrf30]

May I ask how much you got for the 40%'s.

Got $580 per $100 on the 40%. Might get $585 today, but sold last week. And I'm still good with what I got. :-)

 

[davest]

I'm trying to figure this out. You go and sell precious metal for fiat money, then you wait for the precious metal to drop in price so you can purchase with fiat money. rinse/lather/repeat.

Has anyone taken a piece of gold to the grocery store lately and actually purchased dog food with it? Or even a piece of silver for a six pack of the beverage of choice?

What I'm trying to say is, what is the sense of getting rid of your precious metals if you are only trading it for paper that you think is going to have no value.

 

[Rich Hartford]

Seems numerous people are selling. I want to own silver, but seeing prices where they are tempted me to sell a little of what I have. I sold some 40% a week ago, and today sold 100 of my silver eagles. That's less than 5% of my total, so I'm not aggressively selling, but I recieved $24.20 per coin, which I thought was good. That's $2 over spot, and it's been trading about $1.60 over spot, so the increase in premium was what made me sell. If it dips back to $1.50 over spot, and spot is at $22, that is back to $23.50 for me to maybe buy some back. Or lower. I'd like to see it dip again, although the other 95% of my holding says it is better to continue to go UP. :-)

And I'm still waiting for the day the dollar dies and silver jumps $20 per ounce in one day! SOunds kooky, but if fiat dies, gold and silver reign. We'll see ...

I'd rather go broke on my PM's than see the dollar die,because when that happens it's time to get out of Dodge.
HH
Rich

 

[Rich Hartford]

I'm trying to figure this out. You go and sell precious metal for fiat money, then you wait for the precious metal to drop in price so you can purchase with fiat money. rinse/lather/repeat.

Has anyone taken a piece of gold to the grocery store lately and actually purchased dog food with it? Or even a piece of silver for a six pack of the beverage of choice?

What I'm trying to say is, what is the sense of getting rid of your precious metals if you are only trading it for paper that you think is going to have no value.

I've bought things with PM's and sold things for PM's. Never bought a six pack or dog food,but I have the connections to buy a weeks groceries if I wanted to,and plenty of other items.
HH
Rich

 

[fistfulladirt]

Seems numerous people are selling. I want to own silver, but seeing prices where they are tempted me to sell a little of what I have. I sold some 40% a week ago, and today sold 100 of my silver eagles. That's less than 5% of my total, so I'm not aggressively selling, but I recieved $24.20 per coin, which I thought was good. That's $2 over spot, and it's been trading about $1.60 over spot, so the increase in premium was what made me sell. If it dips back to $1.50 over spot, and spot is at $22, that is back to $23.50 for me to maybe buy some back. Or lower. I'd like to see it dip again, although the other 95% of my holding says it is better to continue to go UP. :-)

And I'm still waiting for the day the dollar dies and silver jumps $20 per ounce in one day! SOunds kooky, but if fiat dies, gold and silver reign. We'll see ...

I'd rather go broke on my PM's than see the dollar die,because when that happens it's time to get out of Dodge.
HH
Rich

My thoughts exactly Rich!

 

[RIcoinhunter]

(davest) wrote
Has anyone taken a piece of gold to the grocery store lately and actually purchased dog food with it? Or even a piece of silver for a six pack of the beverage of choice?


There's a video on Youtube of a guy buying grocerys with silver coins.Type in Grocery store begin to accept silver,in the top search line.

 

[$ilver$urfer]

Man you've got some serious stacks!!! I agree with Rich though, if the dollar falters a bit we can realize some tidy profits on our PMs, but if the dollar totally collapses we may be millionaires overnight but our society and the world will be in for one hell of a scary ride...

HH,

$ilver$urfer

 

[obsessedwithsilver]

I also agree with Rich. I like to have some silver as a hedge, but I have no interest in seeing our economy fall apart. Anarchy would reign and many people would suffer.

OWS

 

[jrf30]

I also agree with Rich. I like to have some silver as a hedge, but I have no interest in seeing our economy fall apart. Anarchy would reign and many people would suffer.

OWS

I don't have an "interest" in our dollar dying. But I see it happening in spite of not wanting it to. So having some silver will at least hedge us some when (not if) it happens.

We can't keep printing money and not have it affect the value of those overprinted items. Just going to happen. But, if I can sell some silver now, at $24.20, and then buy it back at $21 again, I can pick up some extra coins with the same money and then when it happens I have 2,300 coins instead of 2,100 coins. Or whatever the total is at that time. (I won't go into the whole reasoning behind it, as that gets too long and political probably for this board)

I am living like it will never happen. And hpoping it will never happen. BUt expect it to happen anyway.

 

[FreedomUIC]

You can look at it two different ways.

Beans, Bullets and Silver or
Beans, Bullets and Gold.


It is your choice, I have the first two, some of the first and little of the second.

 

[davest]

I'm gonna take some of my .925 scrap and see if the Exxon station down the road will let me fill up with it. It's gonna be bracelets, necklaces, and rings. No coins

I'll let ya know how it works out.

 

[Diver_Down]

I'm gonna take some of my .925 scrap and see if the Exxon station down the road will let me fill up with it. It's gonna be bracelets, necklaces, and rings. No coins

I'll let ya know how it works out.

Dave, that will never work. You are supposed to melt it down and pour it in a trough in the dirt and make a loaf. Then, it will work. You can use the loaf to beat the clerk over the head in order to fill up with a couple of gallons. Hope that helps.

 

[jim4silver]

But, if I can sell some silver now, at $24.20, and then buy it back at $21 again, I can pick up some extra coins with the same money and then when it happens I have 2,300 coins instead of 2,100 coins. Or whatever the total is at that time. (I won't go into the whole reasoning behind it, as that gets too long and political probably for this board)

I agree with your thinking, but if you are interested in trading PMs you might want to consider ETFs. The reason for this is the spread is better usually, since you only have a $7 commission to pay on each trade (depending on your stockbroker). Usually when you buy and sell actual PMs you are getting hit with a premium each time and in comparison will generally make less profit on each trade as compared to an ETF. You also don't have to worry about shipping, insurance, not getting paid, etc, like you sometimes do selling physical or buying online, etc.

I am not advocating owning ETFs in lieu of physical metals for your core position, but only for short term trading on the dips.

Jim

 

[quiksilver]

where did u sell the eagles at 2 over spot?

 

[jrf30]

where did u sell the eagles at 2 over spot?

The nucleo exchange at bulliondirect.com It is till at about that price even now. A great place to buy or sell. A little slow at times on delivery of physical silver, but always a grfeat price and a great company.

 

[JFord]

Hey Jrf, just out of curiosity what are some methods you have used in selling your silver and what have you found is the best way to get the most bang for your buck?
thanks!

J

 

[NGE]

Back in the mid to late 70's, metal detecting magazines were advertising detectors for 15 to 22.50 each, in SILVER COINS! Believe it or not, look in some of your old editions. That proves that you CAN get material things for silver. In 1979 I sold $120.00 face in silver, for a little over $4000.00. I have been detecting going on 50 years, I started at 10 years old with a "Shack" 'tector gift for my 10th. B-day (BFO) and saved all my silver till then, it was too tempting not to. I got married in 1978, and it was a nice injection into the nest egg when I was a newly wed............NGE