Summer Decline in Gold & Silver Coming?

If Greece falters and the Euro gets cast in a doubtful light you will see flight to both PM's and the USD which could potentially create headwinds for metals in the near term while they simultaneously reach new highs in Euro terms. It could turn out to be a nice dip buying opportunity, although I think in the absence of that we are in a consolidation period preparing for the next leg up. I highly doubt we will see a US default if it is at all avoidable since everyone knows the implications of that. Now whether government employees will still have a retirement account, that's another question. Ultimately this trajectory is unsustainable so they will either inflate to pay off the deficit or eventually default. In either case PM's will benefit over the course.

 

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My thoughts exactly. Eurozone troubles may actually help keep Gold and Silver stable during the ensuing flight into the USD but with the US future obligations being greater than 6 times GDP, the end game is the same...a us default or massive inflation. In either case, metals win.

 

I hear you...give me another chance to acquire more volume. I think if you're long term, you should be in a good place. You don't lose or really make anything unless you sell. Then, you need to remember what you paid for them, which can be tricky if it was a long time ago.

 

I can't see a flight to the U.S. dollar when they themselves are only weeks away from the same problem Greece has only at a much larger scale.
If you research the debt per capita stats,Greece is much better off than the U.S.

 

Luckily if you buy physical silver you are still allowed to physically identify costs rather than having to use average cost.

 

I believe in buying at the dips. There are more troubles looming ahead for the world (read USA) than just Greece and their bailout. If the price of AG gets to the high $20's again...I will buy like mad! I sold a pile when it was around $46-47 (my cost avg. was 28ish....kind of new at this game....) and bought back a pile in the lower $30's. Returned all of the $$ back into AG & AU. I am prepared to spend new FRN's if it dips sharply. If you are not planning on using the $$ in the near future....it is a pretty safe place to be. Physical all the way!

 

I had actually been considering this since my previous post, but I believe ultimately as long as the USD is the world reserve currency it will be one of many flights to safety, but much more so for those who move wealth around frequently. It would in all liklihood be a 'transitory' situation as some others might put it.

 

I had several buyer who refused to buy my 539 pre-1964 90% silver coins (Quarters, Dimes, and Mercuries) on a certain market price I offered and told me the price will go down more during summertime. Im surprised the price is declining!

Is it only a 'transitory'? I had to delete my ad on Craigslist and decided to wait.

So, after reading all the comments, do you guys think this coming Fall is the best time to sell silver coins? I need to sell to pay my debts.

Thanks!

 

The PM investment newsletter I subscribe to is still predicting a silver pullback to the $27-$28 range

I think if you need to sell your silver to pay debts, you probably shouldn't be in the silver market. So if I were you, I would sell now.

 

Well, damn...Ill figure something out to sell them today.

I have

283 dimes
117 quarters
139 Mercury

Whats the best price to sell? $1700+?

Thanks,

 

This will give you a rough value estimate

http://www.coinflation.com/silver_coin_values.html

However remember that well worn coins can be short 5% to 10%

so you might want to subtract perhaps 7% from the computed value for loss of silver weight due to circulation

you might also have to sell under melt to a dealer (not sure of the going rate these days)

you might get better top line price on ebay, but then you get snookered with EBay and PayPal fees.

 

Yeah that what sucks about Ebay/Paypal. I have sold tons coins on ebay.

Well, I have some clean and bright silvers (and yes some are wore)...going to post it on ebay right now and set it a day sale.

Thanks, man.

 

2.43 x 283 = 687.89
6.08 x 117 = 711.36
2.43 x 139 = 337.77

That is your current melt value, so I would assume if you took it to your local coin shop, you should theoretically get $1700.

 

Yeah and its up on Ebay now for a day sale. I dont trust dealers and they will take out 10% off of the price for their profits.

 

Good luck! Get those bills paid.

If you ever have money that you can invest for the long term, I think PMs are a great place to be.
Just dont put the mortage money into PMs

 

Yes, after paying off all my debts Im gonna buy more gold then ever before.