What do you sell first???

Since the market seems to be bouncing up pretty high right now, I am thinking of lightening my pockets of SOME of my silver. I have a mix of bullion and 90%. I have mostly ASE but a few Maple Leafs and a few Phils. I have read that selling the junk brings the least amount usually, so is bullion the best thing to sell off now? i also was thinking of only keeping the ASE's as far as bullion goes. Am I on the right track?

 

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You can defer taxes by holding what you paid the least for and selling what you paid the most for.

 

Gold and Silver are money. When you "sell" as you call it you are just trading one item for another. There is no charge for trading a $10bill for two $5's. There are no taxes. http://the-moneychanger.com/articles_files/dangerous.phtml

 

Any gain is technically taxable income. Reporting it is another matter.

I would only sell if I needed the cash and if that's the case, what you sell doesn't matter much. I'd sell the 90% first if it were mine.

 

The Reality Of Taxation/Confiscation

I believe you'll find that both the story attached to your post, and the judicial/collection policies then applied, are outdated.

Precedents have since been established in numerous jurisdictions, where judicial actions are virtually no longer necessitated. A government tax collector can currently confiscate without due process, and use the confiscated records/collectibles as evidence in the event that a civil action is unlikely generated by the bankrupt "victim".

Believe me, I've been "victimized" in a state collection confiscation action where the state acted with Police force. without prior judicial process or notification, when state taxes were unpaid on monetary exchanges. I, and many others were bewildered after having received opinions to the contrary from judicial scholars.

Hopefully you'll never learn by personal experience that we live in a selective "Police State". :so-sad:

 

Not sure how the subject got switched to a tax issue, cant see anywhere that the OP asks about taxes, but if it were me dont worry about the tax half, i'd sell the 90% first and hang onto the ASE and bullion.

 

I suppose, it is what you prefer to keep for last. I don't see any difference between the ASE or the 90% silver, or any marked bullion of Canada, etc. What you sell won't matter as much as when you sell, and how much profit you have in the transactions. Physical metals in your hand have the advantage of flexibility by you, but has the disadvantage ,IMO, when you really want to sell fast. No one knows what the market will do in the short run or the long run, but to get rewards, you need to take risk. Sell all now, no risk later, but maybe not the best reward for some. Sell a portion to secure some reward and take risk with the remainder, or keep 100% and risk all. I follow the middle one, and expect to leave a little on the table when the coaster hits the top. Maybe I should be so lucky

 

I am thinking exactly of your middle option. I see the way silver has been bouncing off of the $30 mark. I just wonder how much higher it will go. I by no means have a lot stashed away, but bought most at around the $18 mark. Not that I think it will drop below that, but I am wondering if I should try to take some reward now/ I don't need to sell now, but part of the reason I INVESTED in silver was to reap a reward. So when DO you sell then? That's probably a better question as to what. I guess what to seel is whatever I can get closest or over spot with.

 

Sell your stuff in this order:

• Ugly Bullion First
• Pretty Bullion
• Junk Silver
• Numismatic's that you don't like
• Numismatics that you do like

 

Good time to exchange junk silver and upgade to collector value UNC/Silver proofs. spread is lowestest in long time.

 

I can't agree more with this. True story: I recently sold my Walker short set individually, none of them were better than VF. For an additional $30 or so, I was able to purchase all of them in AU and BU. I also sold my terrible Roosevelt silver dime collection, and upgraded to complete gem/bu for an additional $30. Which I posted here. Just food for thought. It amazes me that people will pay nearly the same for a slug as they will an AU/BU. This will really work out if/when silver crashes.

 

Not really. What works out if silver crashes is to have sold all of your silver and buy after it crashes. What you describe works if you assume that a person will not sell their silver, and is willing to take the loss if/when silver crashes.

Good point about spread being low, but that has more to do with silver being worth more than collector value of coins every day.

 

Point taken, but I was thinking along the lines of: If silver crashes, the higher grade Walkers or morgans should retain their collectible value, even though their silver value fell way down. Isn't that right? or no?

 

Half right IMO. Everyone is aware of the gain price of silver, and this has been added to the previous collectible value, say pre-2008 level, so for the borderline collectibles such as a $80 Walker now, if silver falls $15, I would suspect the walker would go to $ 60-65. Maybe there has been a little real appreciation in the collectible portion over the last 2 years, hard to validate. I suspect if silver and gold crashes, the psychological effect will cause even deeper, greater selling from those who have been buying over their head , telling themselves it is a good investment, and believing "extremist" ,IMO, blogs that the world as we know it is ending. With a flood of collectibles, the price will decrease. I see a lower interest in numismatics if such happens, sadly.

Jim

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It sounds like a good plan. Sell the lowest quality silver into the market while it is strong, and keep the ASEs and Maple Leafs.

 

of course the junk silver and gold first. then the unwanted bullion coins. and lastly, maybe the modern commemorative.

 

Sell the pieces that you paid the highest premium over spot for first.If your above water on them as for when silver drops you still have to make up the premium back up which will be harder.
1. ASE, Maples ,Phils
2.bars
3.junk

 

You have a 1961 Proof set value about $17-$18 Melt. and .85 cents in Silver XF 1961 half Quarterand dime. After u get $17 in cash, which would you rather have in your pocket?

 

Well, silver is high now so taking advantage of it isn't the worst thing ever.

 

Why sell gold first?