The Heck with Gold!!! If you are not buying at least a Kilo a week of SILVER you are being left behind!!! OH also make sure it has a Ridge Rim !!!! Or it must be FAKE.
If you bought gold for around $1200 and it is now worth $1315, there's not much money to be made. Suppose you have 5 ounces; if you sell now, you'd make $575. Is that worth the hassle if you intend to own gold in the long term? Gold will likely go moderately up and down over the next several years. In one, two, or three decades, it should be significantly higher. So if your goal is to keep gold as a backup to traditional investments and/or a hedge against inflation and/or as extra retirement money, it would be foolish to sell today for a moderate gain. Keeping it for the long term makes much more sense.
Never sold any gold before Privy.. so there is a hassle selling it then... I get your point about waiting.
The only hassle is selling large amounts at once at a coin shop. Check? Well, then there's a record of the transaction and waiting period for the funds to clear. Cash? Are you safe walking back to your car? Those are all doable, but that to me is a huge hassle for just a few hundred bucks.
Depends upon the neighborhood. Many people all the time are selling jewelry, silver coins/bars, (your lawnmower), etc etc to pawnshops, coin shops, etc and walking out with cash. If there are high robbery rates in your area then there is definitely needs to be concerned. If there is only one coin shop and you are their only customer, and strange shady guys are wandering about outside the shop ... then I'd definitely pass. There's also online places to sell PMs too. Yes there is always a cost of selling PMs whether it be some premium, shipping etc. But I sold a bunch of silver to provident and it was quick & easy and no anxiety.
All good points. But I'm talking about selling 5 or 10 ounces of gold. Selling $6500 or $11,000 of gold is a big deal. And I personally wouldn't want the hassle to make only a few hundred profit. If I'm going to do that, I'd wait for gold to be much higher.
yeah but how many of us want to wait, one, two or three decades to see the results? Granted, I started buying a long time ago. Gold was under $400, silver under $7 so I appreciate the "long term" strategy. But, for me, any purchases today are not for the Long Term value appreciation, it's for numismatic / pleasure valuation. I don't have another 3 decades to sit on a new purely bullion purchase especially since my index funds have blown away PMs during the same time period.
With the market DOWN Silver and gold whilst the US Dollar index is UP so PMs are holding their own as they normally are driven down by only the US Dollar index. But other factors are driving it's stability, slight upwards trend. Though the headlines today driving the market are related to China Trade Talks .. not good .. thus driving the market down. Let's see what happens tomorrow? another sell off, or rise ... time will tell.
As stated throughout Forum... Silver not a good investment vehicle... got that.. makes no money or sense.... BUT... I am purchasing some at this price in HOPES of a higher price in years down the road... U.S Coins and Bullion
Yup, I totally understand. Age and waiting period has a lot to do with it. I might not be here 3 decades from now assuming I don't get hit by a truck in the mean time. So my financial strategies have shifted a bit and truthfully many purely bullion PMs have been liquidated.
depleted? what does that mean? I simply said I sold (liquidated) my bullion based PMs for cash. Then invest the cash or hold the cash. I'm too old now to hold something for 30 years and wait the outcome; that's for the young one's now. I still have my silver & gold commems/coins that I enjoy. Also, I don't have PMS. I'm a guy.
One needs to figure out all these issues before they even buy the stuff. Asking what the dealers buy back is before you buy is a good idea too. Buy backs vary due to market conditions but it's good to know your round trip spread. Gives you peace of mind to know your ounce of gold is worth something.
Yes, well aware of all of those things. I think you probably know that by all of my other posts, though. My point is reselling gold is a waste of time and not worth the hassle to make only a few hundred bucks. But maybe some people have more free than I do and would be happy to dump our their gold every time it goes up $100 per ounce. For me, I am in zero rush to sell, so maybe in 10, 20, or 30 years if I either need the extra money (unlikely) or gold has increased significantly in value (25%+) I will sell. Most likely, though, I will hang on to it through retirement and never need it.
Or maybe they know where to buy it at a lower price and sell it at a higher price independent of increases or decreases. If that's the case, their best move is to buy and sell as quickly and as often as they can.