Wickas Question

[Wickaboag]

Wicka's Question

Hey All, Wicka here
I lurk on this every time there is a post and I was hoping someone could help me out,
I hit a good silver dump a month ago. 5 solid rolls of quarters.
The price of silver is a little shake-y at the moment, would it be a bad idea to sell (some) of the coins while price is where it's at so I can reinvest it (when/if) the price drops below 30$ an ounce? The only thing I'm worried about is that this recent drop is to get people who aren't the strongest supporters to sell their silver so it can sky rocket... with all circumstances it should rise significantly, but I want to be able to have the most possible when it goes up.
Any advice would be greatly appreciated!
Wicka

 

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[jim4silver]

Hey All, Wicka here
I lurk on this every time there is a post and I was hoping someone could help me out,
I hit a good silver dump a month ago. 5 solid rolls of quarters.
The price of silver is a little shake-y at the moment, would it be a bad idea to sell (some) of the coins while price is where it's at so I can reinvest it (when/if) the price drops below 30$ an ounce? The only thing I'm worried about is that this recent drop is to get people who aren't the strongest supporters to sell their silver so it can sky rocket... with all circumstances it should rise significantly, but I want to be able to have the most possible when it goes up.
Any advice would be greatly appreciated!
Wicka

I would keep the silver you found for face value. There is no guarantee silver will dip to the low 30s, even though it is of course possible. Trying to time the market and flip PMs is fine as a for profit hobby if you already have a stash of silver you are content with.

Silver is just about to enter the best time seasonally and there are many world scenarios in play that will definitely affect the markets if things go south (ie, Iran situation, Euro debt problems, etc.). So you don't want to find yourself out of the market if silver decides to take another run at 50 and beyond.

It would be better to not sell the silver you have, and then try to find extra $$$$ to buy more silver now before the price takes off (that is unless you have a large enough stash now put away). If we really do see another leg up in the bull market as many predict (and I am betting on) there will be a new "floor" level at some point like we've had recently with 27-35 or so, except then it will be $50+.

Just my opinion.

Jim

 

[Wickaboag]

I would keep the silver you found for face value. There is no guarantee silver will dip to the low 30s, even though it is of course possible. Trying to time the market and flip PMs is fine as a for profit hobby if you already have a stash of silver you are content with.

Silver is just about to enter the best time seasonally and there are many world scenarios in play that will definitely affect the markets if things go south (ie, Iran situation, Euro debt problems, etc.). So you don't want to find yourself out of the market if silver decides to take another run at 50 and beyond.

It would be better to not sell the silver you have, and then try to find extra $$$$ to buy more silver now before the price takes off (that is unless you have a large enough stash now put away). If we really do see another leg up in the bull market as many predict (and I am betting on) there will be a new "floor" level at some point like we've had recently with 27-35 or so, except then it will be $50+.

Just my opinion.

Jim

I'm a 15 year old kid who Coin Roll hunts as a HARDCORE HOBBY!
Well, atleast I think it's hardcore
Just trying to maximize my profits as much as I can.
Thanks Jim!
Wickaboag

 

[dogpound]

I'm a 15 year old kid who Coin Roll hunts as a HARDCORE HOBBY!
Well, atleast I think it's hardcore
Just trying to maximize my profits as much as I can.
Thanks Jim!
Wickaboag

that is great ta hear for someone your age........i wish i did the same at that age
i say if you really don't need the money right this minute......keep on stackin

 

[Wickaboag]

that is great ta hear for someone your age........i wish i did the same at that age
i say if you really don't need the money right this minute......keep on stackin

Thanks,
Don't need money yet, but I will have bills, loans, ect [hopefully no loans] but still, bills soon! want to have as much of a headstart as possible.
I got $600 to work with, so I do boxes to find silver here and there, but will start coin machine bags, hope to find some serious silver!
Hope to hear from you soon,
Wickaboag

 

[Bigheed]

Wicka -

Keep on hunting and stacking, but you young bucks need to keep in if you are serious for the long term. This is not about maximizing "profit" , it is a long term investment for the future that will give you monetary stability, which may in turn give you a nice profit, it may not, but it will add some stability to your portfolio.

If you are looking to increase your bankroll / pay bills, get a job, or another job (I know it's not the easiest thing to do in this economy, but there is always work to do if you look hard enough), no jobs are glamorous at your age, but they teach you about hard work and stewardship of your money. Besides, you shouldn't have alot of overhead if you are living with your parents. You can start saving for your college expenses + building your CRHing bankroll / stack.

Bigheed

 

[usandthem]

Wicka -

Keep on hunting and stacking, but you young bucks need to keep in if you are serious for the long term. This is not about maximizing "profit" , it is a long term investment for the future that will give you monetary stability, which may in turn give you a nice profit, it may not, but it will add some stability to your portfolio.

If you are looking to increase your bankroll / pay bills, get a job, or another job (I know it's not the easiest thing to do in this economy, but there is always work to do if you look hard enough), no jobs are glamorous at your age, but they teach you about hard work and stewardship of your money. Besides, you shouldn't have alot of overhead if you are living with your parents. You can start saving for your college expenses + building your CRHing bankroll / stack.

Bigheed

That's sound advice Bigheed.

 

[lost]

Wicka, I'll go against the crowd here. Think of yourself as a CRH Business. You want to always grow so you must continue to increase your earnings or your business will stagnate and die. Since you are 15 and the chances of you holding down a job that will allow your CRH Business to grow properly, you might think of your current silver coin holdings as stock in your company. Is it good to sit on what stock you now have and wait for unseen forces to drive the price of your stock up? Or down? My thinking is No. Sell what percentage of stock you are comfortable with at today's prices, take the profit and invest it in more free CRH'ing silver. This will give you the capital to expand your business. More rolls to search always means the extra edge in finding free silver. As you replace your new CRH'ing stock in the coming months or year, repeat. Basic economics 101. Don't stack. Buy and sell maximum your profits.

 

[Wickaboag]

Wicka, I'll go against the crowd here. Think of yourself as a CRH Business. You want to always grow so you must continue to increase your earnings or your business will stagnate and die. Since you are 15 and the chances of you holding down a job that will allow your CRH Business to grow properly, you might think of your current silver coin holdings as stock in your company. Is it good to sit on what stock you now have and wait for unseen forces to drive the price of your stock up? Or down? My thinking is No. Sell what percentage of stock you are comfortable with at today's prices, take the profit and invest it in more free CRH'ing silver. This will give you the capital to expand your business. More rolls to search always means the extra edge in finding free silver. As you replace your new CRH'ing stock in the coming months or year, repeat. Basic economics 101. Don't stack. Buy and sell maximum your profits.

That's actually a great way to look at it! Thank you!
Except noone's paying melt around me, sold my 40%'ers for 4$ each. which I regret :\
Once I get my money that I have 'loaned' out, I will have (more than the banks around me can handle) for volume, there are two banks in my town, I've done (ALL) the coin in one bank, and get every box they order. I have to start using the other bank, but it's a longer walk and there is a bank a few towns over that has a coin machine, I can buy their bags as they fill up, and I REALLY would like to do ALL the bags they fill... but that's a lot of (time) spent as a full time student :\
Not sure what to do but thanks for the tips!
Wicka

 

[jim4silver]

I guess for someone who is only 15 the options are limited on what you can do to build a silver position (if that is in fact your goal). However, I believe it is a big mistake for a person to think that they can build a decent sized position in silver via coin roll hunting alone in this day and age.

I was heavy into CRHing for a few years back in the good ole' days (at least in my area), and it eventually got to where finding a single 40% or two was a big score, and that was after searching a few boxes and dumping them, etc. Much more profitable to get a part time job (albeit not as much fun) than spend 4 hours or so to find $10 worth of silver.

I would bet that any CRHer who has been doing this at least 3 or so years will tell you there is less silver now than when they began CRHing. I stopped going on the CRHing forum a while back so maybe what I am saying is not being reflected in what people are saying there (there was always one poster a couple years ago who seemed to magically find endless amounts of silver all the time in his/her boxes while everyone else was reporting skunks). I think that poster was eventually banished?

Yes, there will always be "some" silver to find if you keep at it, but finding decent amounts on a regular basis is not going to happen most likely. Let's put it this way, when I first started CRHing a skunk box was rare. Nowadays it is the norm.


Jim

 

[Wickaboag]

I guess for someone who is only 15 the options are limited on what you can do to build a silver position (if that is in fact your goal). However, I believe it is a big mistake for a person to think that they can build a decent sized position in silver via coin roll hunting alone in this day and age.

I was heavy into CRHing for a few years back in the good ole' days (at least in my area), and it eventually got to where finding a single 40% or two was a big score, and that was after searching a few boxes and dumping them, etc. Much more profitable to get a part time job (albeit not as much fun) than spend 4 hours or so to find $10 worth of silver.

I would bet that any CRHer who has been doing this at least 3 or so years will tell you there is less silver now than when they began CRHing. I stopped going on the CRHing forum a while back so maybe what I am saying is not being reflected in what people are saying there (there was always one poster a couple years ago who seemed to magically find endless amounts of silver all the time in his/her boxes while everyone else was reporting skunks). I think that poster was eventually banished?

Yes, there will always be "some" silver to find if you keep at it, but finding decent amounts on a regular basis is not going to happen most likely. Let's put it this way, when I first started CRHing a skunk box was rare. Nowadays it is the norm.


Jim

Hey Jim,
Yeah, my goal is kind of to get the most silver possible for me, I got a weekly job, I mow my bosses lawn weekly, sometimes twice a week, and work at his house or another one of his houses =)
Coin Roll hunting as been good, I've gotten 45 ounces in 2 months. Starting to steer away from boxes, and do CWR and Coin Machine bags, I got 7 war nickels today, and a 1950D and a 1938S
two key dates,
and 7 silver nickels for 200$ searched is great!
I think as long as I do as much searching as I can, I can get plenty of silver. Trying to get 75 ounces by January 1st.
=) only 30 ounces away, going to start searching quarter bags and dime bags once I get my money back, should be this week, and hopefully by then I get a few good scores =) It's all luck though, sorry to hear your luck wasn't the best in CRH
Thanks for the tips
Wicka

 

[Bigheed]

What Jim is trying to tell you is that he had plenty of success CRHing but nowdays for him the time invested is not worth the return as it was years ago and he would rather just work more and buy his silver.

If you are going to build your position via only CRHing then you need to do big volume. Before my twins were born I was doing ~100k per month and sure I got decent amounts, but I also see Jim's perspective, because it was a crapload of work!

Make a goal for yourself monthly and whatever you don't get via CRHing then buy the ounces as long as the price is below your "threshhold" for buying. Slow and steady growth/accumulation, you're not going to score big trying to flip silver. Put a couple grand in an investment account like E-trade or something if you want to do some day trades / short sales.

 

[Wickaboag]

What Jim is trying to tell you is that he had plenty of success CRHing but nowdays for him the time invested is not worth the return as it was years ago and he would rather just work more and buy his silver.

If you are going to build your position via only CRHing then you need to do big volume. Before my twins were born I was doing ~100k per month and sure I got decent amounts, but I also see Jim's perspective, because it was a crapload of work!

Make a goal for yourself monthly and whatever you don't get via CRHing then buy the ounces as long as the price is below your "threshhold" for buying. Slow and steady growth/accumulation, you're not going to score big trying to flip silver. Put a couple grand in an investment account like E-trade or something if you want to do some day trades / short sales.

I'm 15, I don't have a "couple grand" to throw into a investment account. Nor do I have the time with my studies to get a part time job. I work with someone who calls when he needs me, 3 hours today, and should be same tomorrow. Nothing wrong with 50$ For me.
I like CRH, never know what you'll find, I could save my lunch money and buy 5 silver dimes per a week. (2.75$ for lunch) But I'm not looking for 100's of ounces. I'm looking to just keep compiling as much as I can, I cannot do 100k per a month, as much as I would LOVE to. The banks around me won't order (VERY SMALL TOWN) and there isn't much in the way of CWR. So I get ALL the coin they get, before it goes to business customers. and I get ALL cwr the day they come in. I'm starting bags, and doing great. I don't want to buy silver though, I'm thinking foreign silver would be best, it's the cheapest, my coin store around me has canadian silver coins UNDER MELT.
The .925 sterling coins from the teens in canada are cheap! $2 per a coin, the age alone should demand more, never mind the STERLING SILVER. So I think I'll buy them out of those
Keep Stackin
Wicka

 

[usandthem]

I love Canadian dimes but they're harder to get rid of when it's time to liquidate your assets.

 

[Bigheed]

sterling is nice, but if you are buying junk silver I would go with US coins simply because they are a "known quantity", i.e. when it comes time to sell everyone knows what is in them, just like usandthem said. Keep up your studies that is by far more important than CRHing or part time work :-)

 

[Marchas45]

Great for you kiddo, I wish I would have started sooner but can't dwell on that now. I also started with CRH but I'm all in now and every Fiat dollar I get I buy silver, usually the 90% coins or AE's. I'm a Serious Silver Stacker. When you get serious stay away from the spot board as it will drive you crazy with the Up's and Downs of it, just look around you and see what's happening in the world and Keep Stacking but most Importantly Stay Happy and have Humor in your life. Right Jim, this is for you. Lol

 

[usandthem]

Great for you kiddo, I wish I would have started sooner but can't dwell on that now. I also started with CRH but I'm all in now and every Fiat dollar I get I buy silver, usually the 90% coins or AE's. I'm a Serious Silver Stacker. When you get serious stay away from the spot board as it will drive you crazy with the Up's and Downs of it, just look around you and see what's happening in the world and Keep Stacking but most Importantly Stay Happy and have Humor in your life. Right Jim, this is for you. Lol

Your "car" seems to have a loose nut behind the wheel.

 

[Marchas45]

Your "car" seems to have a loose nut behind the wheel.

YEA! But I'm A Happy Nut. LMAO

 

[Wickaboag]

That's you Marchas? little heavy on the accent
Thanks for the Vid,
Wicka

 

[Marchas45]

Aye that's me. Lol Love having fun and a laugh especially when the Silver charts creep down. Lol So I have fun and go and buy more silver seeing it's down. Lol
Jim PM'd me yesterday and was asking about another video so I had to oblige. Lol
I make a fun video every week for my Silver Stacker Forum that I belong too.