Silver getting crushed today

Discussion in 'Bullion Investing' started by Soiled, Apr 1, 2016.

  1. abuckmaster147

    abuckmaster147 Well-Known Member

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  3. Clawcoins

    Clawcoins Well-Known Member

  4. Clawcoins

    Clawcoins Well-Known Member

    Ridge Rim?
    is that a new model dodge ram truck or something ?
     
    abuckmaster147 likes this.
  5. Clawcoins

    Clawcoins Well-Known Member

    It's time to sell any and everything that even remotely looks like gold. @Cheech9712
     
  6. Clawcoins

    Clawcoins Well-Known Member

    Silver movement today
    upload_2019-2-6_12-47-39.png

    the last year
    upload_2019-2-6_12-49-39.png

    last 5 years
    upload_2019-2-6_12-51-4.png
     

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  7. myownprivy

    myownprivy Well-Known Member

    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.
     
  8. slackaction1

    slackaction1 Well-Known Member

    Never sold any gold before Privy.. so there is a hassle selling it then... I get your point about waiting.
     
  9. myownprivy

    myownprivy Well-Known Member

    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.
     
  10. Clawcoins

    Clawcoins Well-Known Member

    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.
     
  11. myownprivy

    myownprivy Well-Known Member

    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.


     
  12. -jeffB

    -jeffB Greshams LEO Supporter

    1980 and 2011 say you might have to wait quite a long time.
     
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  13. Clawcoins

    Clawcoins Well-Known Member

    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.
     
    Last edited: Feb 7, 2019
  14. Clawcoins

    Clawcoins Well-Known Member

    With the market DOWN
    upload_2019-2-7_13-5-19.png
    Silver
    upload_2019-2-7_13-5-37.png

    and gold
    upload_2019-2-7_13-6-1.png

    whilst the US Dollar index is UP
    upload_2019-2-7_13-10-21.png

    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.
     
  15. slackaction1

    slackaction1 Well-Known Member

    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
     
  16. Clawcoins

    Clawcoins Well-Known Member

    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.
     
  17. slackaction1

    slackaction1 Well-Known Member

    all bullion and PMS are depleted u say.. but .. but.. but..okay
     
  18. Clawcoins

    Clawcoins Well-Known Member

    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. ;)
     
  19. Bman33

    Bman33 Well-Known Member

    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.
     
  20. myownprivy

    myownprivy Well-Known Member

    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.
     
  21. -jeffB

    -jeffB Greshams LEO Supporter

    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.
     
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