I bought almost $2k in ASE'sin November of 2008 when prices were in the dumpster and sold a few weeks ago for a nice healthy return. But at these prices, I am not buying any more. Is there any chance silver prices will go back down that low?
In another crash and burn senario like we saw in 2008, sure. But in a slow steady decline, people will be buying it up as the price nears $14 and goes lower. I think the hard part if the price does crash will be finding sellers. Before, people were desperate and sold their silver holding due to financial ruin. People out of jobs and such had to sell. I think a lot of damage has been done and if as many people lose their jobs with another crash, we'll have bigger problems to worry about than the price of silver or gold. JMO.
There is a chance because silver is highly volitile. There is an equal chance that you'll be kicking yourself for leaving huge profits on the table if silver takes off to the upside.
I am already kicking myself for having sold most of it to APMEX! Toward the end I started selling on EBAY and did better by selling at a higher price than what I sold to APMEX.
Well think of it this way,you did make a profit! If that was your goal then good job,if on the other hand u/r young (60yr old or younger) and didnt really need the $ then you should have maybe held on to it longer or sold on ebay were yes it takes longer to do so but prices are higher as you noted.
I think so, but I am not depending on it. When it does it not last long - maybe months. I think gold could get hit in deflationary crash too. But I am not counting on that either. Just trying to pay down debt and save a little extra.
What iam doing is setting limits on both sides of the spectrum, About alot of Krugerands at $275 an oz several years ago at $1,500 i will sell on the high Side $1,000 on the low
Not sure why you sold. Maybe you thought this was a peak and decided to cash out. Unfortunately, in the long term, this is NOT a peak and you could have done better by holding. You wouldn't be wrong if you jumped right back in and bought more.
This strategy makes sense to me. Mpcusa is much more disciplined than I. I admire this trait in people. I, on the other hand, am more like a city rancher. All my cows turn into pets. Pets are not usually profitable. I would have a very hard time selling my Krugerrands - especialy the fractionals. They are just so pretty. I like the different colors of the gold in these coins. Yet, I sometimes think that the dates could be stylized a little different. Because of my concern for difficult global economic issues in the next few years, I am holding on to the gold coins & bullion that I have from the most vulnerable countries (smaller ones, especially). Also, I once heard a gold guy say something interesting about "premiums" - they always change. That expression felt right to me. Right now the premiums on Krugs are welcoming. I do not intend to offend anyone. I am a sophomoric gold lover. Making money is good - it just too bad it might mean letting go of a gold coin temporary.
single digit silver? I doubt we will see $8.00 an ounce in the near future, if ever. Maybe 13-14. Note: I am not an expert. A 50-60 percent drop in other common investments could send the PM market down close to 40% only very temporarily. I feel like waiting for single digit silver again is more of a gamble than buying silver at current prices.
Ther is a good article in the recent Numismatic News about future predictions on the market as a whole by I think David Ganz (spelling?) As with stocks, timing is everything. You made a healthy profit and that's a good thing. With all the trouble with the Euro right now, other countries going bankrupt, the banks here being up to their same old tricks after the bailout, etc. there is a lot of room for radical changes in the precious metals market. On the other hand, if the next wave of fallout is from overextended credit card default, defaltion, inflation, the Chines calling us out on all the treasuries,etc., just about anything could happen. We are living in precarious times for sure.
Hey, I'm with you sunflower. I tend to like my commemorative silver dollars much more than the ASE's of Franklin half dollars I have. I don't think I will ever sell them, unless the price starts screaming at me to do otherwise, like over $100 a coin.....ones I bought for $20.
Silver is more volatile, it has some strong advocates. It should be a lot higher. If it drops substantially, I doubt it will be doing so that those who hope it will go up can get on the bandwagon for a price spike.
I make NO close bond to PM! God give it & and he take it away! If you can make profit then sell if not hold?? If want more hold longer?? LOL
In all fairness I should mention this. The reason I initially bought the gold is the stock market was in the dumps, the economy was hitting rock bottom and there was a very pessimistic outlook of the next 12 months. So I bought the gold as a precautionary measure. I didn't have the cash so I bought it on credit. Things are certainly better now (compared to then) so I figure I can stop making the cc companies even more rich and lower my balance.
