Silver getting crushed today

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

  1. CoinCorgi

    CoinCorgi Derp, derp, derp!

    What does trust have to do with selling gold jewelry?
     
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  3. Prez2

    Prez2 Well-Known Member

    Trust in that not all folks are fair. I had a jewelry/coin shop locally tell me a gold bracelet with charms was worth only about 150 bucks. Said the charms were fake (they were not) and way off on price of gold. Turns out I got a thousand for that same bracelt from a more "honest" dealer. I think that's what the poster meant.
     
    runninghorse1 and CoinCorgi like this.
  4. Prez2

    Prez2 Well-Known Member

    Go get several quotes. Then several more and watch the wild swings from the 'honest' people giving those quotes. It's like trying to find an honest car mechanic. Not many exist.
     
  5. longnine009

    longnine009 Most Exalted Excellency

    Fascinating, but that wasn't the point.:rolleyes:
     
    Last edited: Aug 6, 2019
  6. CoinCorgi

    CoinCorgi Derp, derp, derp!

    That's not "trust". It's a matter of knowing what you've got and knowing what you're willing to take for it. Semantics I guess.
     
  7. Kentucky

    Kentucky Supporter! Supporter

    Dang...I got a load of silver, been in there a long time.
     
  8. montynj3417

    montynj3417 Active Member

    Sure is fun when I'm metal undermisdetectorising and I find a silver coin!
     
  9. longnine009

    longnine009 Most Exalted Excellency

    Golem takes the lead----"no, no, don't listen."

     
  10. Bman33

    Bman33 Well-Known Member

    $1,500 Gold
    $17.00 Silver

    Kind of cool!
     
  11. -jeffB

    -jeffB Greshams LEO Supporter

    Glad the gold offers at the June coin show were too lowball for me to accept. I'd feel like even more of a sucker now if I'd let a double eagle go for $1200 or so. (The best offers I got were still below melt.)

    Wonder what the action's like at shows now? Are dealers dragging their feet, offering well below melt in fear that this is just a transient spike, or are they making stronger offers anticipating higher prices to come?
     
  12. desertgem

    desertgem MODERATOR Senior Errer Collecktor Moderator

    I have no doubt it is a transient spike, but no one knows how long (2-3 days) or (1-2years), although I suspect a few weeks. Make money on uncertainty and volatility. I am leaning to use options with GDX and watch the VIX. Physical buying and selling is far too risky at this point IMO, but most will ignore or disagree, and that is OK :)
    Jim
     
  13. myownprivy

    myownprivy Well-Known Member

    I'm not interested in making any big "moves." Moments like this give me an opportunity to clear out some silver that I don't really care for or believe I overpaid for at the time. Now is the time to break even on what you don't like and make a little cash on the things you can. That could mean selling anywhere from 5-50 ounces of silver.
     
  14. Bman33

    Bman33 Well-Known Member

    I'm not selling anything. My gut tells me to buy silver as it came to life but is still under $20. Of course I could be a fool but this is all like playing poker anyway. Good luck to all your strategies!
     
  15. myownprivy

    myownprivy Well-Known Member

    What we should be saying is "buy, buy, buy" because only if other people are buying will dealers be willing to buy everything offered to them.
     
    Bman33 likes this.
  16. desertgem

    desertgem MODERATOR Senior Errer Collecktor Moderator

    But we couldn't do that or we would be as bad as the others ~ right :)
     
    Bman33 likes this.
  17. myownprivy

    myownprivy Well-Known Member

    The unfortunate reality is most coin shops have regular 9-5 business hours, and most people work regular 9-5 hours, so it's hard to get to the shops during the week. It also means leaving your silver or gold in your car if you are going to go at lunch or after work.

    Not many coin shops are open on the weekends, and those that are get swamped for the reasons mentioned of weekday hassles.

    So I guess I won't sell because I don't want to leave silver in my car.
     
  18. Phil Ham

    Phil Ham Hamster

    Sold all my holdings today at 17.13
     
  19. Gilbert

    Gilbert Part time collector Supporter

    For people such as myself selling PMs means finding something to buy with the proceeds (or sitting on cash that loses value daily). We really don’t need or want anything at this time, so will not be selling, regardless of where the price goes.
     
  20. Cheech9712

    Cheech9712 Every thing is a guess

    Someone show me a graph please. How could it be crushed at 17
     
  21. Cheech9712

    Cheech9712 Every thing is a guess

    Sell and buy later. Buy grandbabies bikes
     
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