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 ...

 

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[jrf30]

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

most of the time I've bought from bulliondirect.com through their nucleo exchange, and sold via craigslist (C.L.). Free ad, meet in person, take cash and don't have worries. PLus most people buying silver are good people, and some have been repeat buyers.

I also followed a pattern of selling AND buying at the SAME time for a while. When silver was a little lower, i COULD BUY ON NUCLEO FOR $19.50+/- net and sell on C.L. for $21 and make $1.50 per coin just acting as a middle man. Sell 300 of those in two or three days on one ad, and you have $450 profit. Not a bad take when I did that. Now though C.L. is tough to sell on, as the price is about $25 per coin. I see resistance in the market, and that is one reason I sold a few out. I see people here saying they are selling (increased supply) and I see a lack of buyers (lower demand) on C.L. and that says we very well might hit a wall here and drop back down. But I'm worried about the collapse of fiat money, so will NEVER sell "much" of my holdings. Still, sell a few hundred here or there, buy them back at lower prices a little later, and then add the protfits back into more coins, and eventually it starts to add up to some real numbers. :-)

that's what I try. We'll see long term how it comes out. :-)

 

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[davest]

well, I tried. The guy at exxon said I'd have to sell my scrap to someone and bring him fiat money for a tank of gas. The clerk at Publix said, " If you don't pay with real money, the police will be here shortly. We aren't a pawn shop."

I guess the economy just isn't set up for the downfall of the currency system. Even when I tried to explain that the paper money they wanted was based on only good faith and a lick and a kiss, they wanted that instead of thirteen silver rings, one 925 mens bracelet and some earrings.

Some folks will be really sorry when the world melts down.