Should i sell some of my silver?

http://minneapolis.craigslist.org/ank/wan/3743461500.html


Some guy on craigslist is offering 20x face. Isn't that a good deal for a seller?

What do you guys thing, are you going to hold onto you PM's and hope for a rebound or are you gonna sell now, wait for it to drop and buy more:hail:

 

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Always be careful of such ads. I am not saying to inquire, but I have heard many times people placing ads with good buy prices go over your stuff and cherrypick more valuable coins for that price, and shoot you a lower price for "the rest". Just thought I would pass along that warning generically.

Specifically to Minneapolis CL, there is one or two people trying to manipulate it. Any time I post an ad offering to buy or appraise coins for people here it gets flagged and removed. Someone is trying REALLY hard to monopolize the CL coin ads. I am simply offering to help value people's holdings, and put an offer in if they are coins I collect, and someone really doesn't want people like me doing that.

 

I just posted an ad on craigslist asking those same questions and saying I don't care where it's headed, I'm still buying.

20x face is a good deal for a seller right now, but then again his ad was posted yesterday afternoon.

If someone responds to my ad, I'll be buying at around 18x. More if it isn't just "junk".

 

The only way to lose money is to sell when something is low. Silver is down now, but this entire thing is cyclical. Look at the Stock Market as a case in point in terms of cycles. If you had wanted to sell Silver, the best time to do so would have been when it was close to peak.

 

I'm not saying this is what's going to happen, but what if silver keeps going down to $10 and doesn't come back up to $25 for another twenty years? After all, silver is a commodity, it does not generate any revenue, so it is not the same as the stock market because it's not a stock.

All that being said, I'm still buying.

 

IF YOU NEED NOW the MONEY SELL IT! Do not wait too long....

 

That's what they want you to do. Is there any good reason that you need to sell now? Too much money tied up in this commodity?

 

...and it still hasn't shown up yet?!?!?! What the heck? I've never had it take this long.

 

Yes you should, to me!

 

FWIW, if someone who has been buying in the past and then gets worried when the price starts dropping, should not be buying in the first place.

Chris

 

Well probably 9ball...but if it drops down a lot then u need to buy more to offset the silver you bought at a higher price maybe or maybe not just sayin............ That how i might play depending on circumstances though............................... Though u have a good point.........

 

That is quality advice right there!

 

The reason i would sell it would be to play the market and buy more when or if it drops down more.

 

Nobody knows if you should be buying or selling right now.

 

Lol, about the best piece of advice I have read on CT. If we KNEW, we would be sipping pina coladas on our private island somewhere. I sure as heck wouldn't be working in MN.

 

Amen to that medoraman.....i would never step aboard another train again......i buy the first round medorman..

 

This makes sense for why I buy PM, but it's not for me to judge. People buy for different reasons...

 

very interesting, very interesting indeed.

 

Wow. Silver is at 23.56, This is actually turning scary to me. When to invest, only got 45 bucks, so I could get almost 2 oz in silver, but is it worth it? And will silver cash to 10/oz? Its not that impossible as silver already crashed 10 dollars an oz from 2 months ago.

 

Yeah, but we tried to warn them, right sir? We said over and over its a buy and hold, don't get upset if it drops, think of it as a buying opportunity if it goes down.

A friend at work has a son in law who just 5 months ago liquidated his 401k and bought silver. All in. This is the reason I argued on this board to people about just this very action of "backing up the truck". Even today, with lower prices, I would still argue to not do that. Go ahead and buy some at this price point, everyone has their own idea of fair value of anything, but don't go "all in" at almost any price point. The risk is pretty steep. Yes, if you get it perfect, you can hit a home run. I try to hit singles instead, since the risk of swinging for the fences and striking out is pretty severe at this stage of my life.

To be honest, I am a hoarder. I buy, I like to buy, that is my "thing". I also love silver, always have. These last few years have kind of peeved me off, stopping me from buying because of my predisposition against the price of PM. Get prices down into levels I believe are fair value, and you guys are seriously going to be sick of me talking about the piles of coins I bought at melt. I know some are sick of me already on PM boards, but at least you will be sick of me for another reason.