The Elephant in the room

Discussion in 'Bullion Investing' started by Mountaineer, Sep 24, 2020.

  1. Mountaineer

    Mountaineer Member

    Gotta say, looks like the mini-bump in the value of silver is now over! Should have sold at the $29 spot!
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  3. Nolan Workman

    Nolan Workman Well-Known Member

    I have a small 50 oz. stack I bought at $17, even at $27, the premiums would have eaten up 30% to 50% of my profit. I have a small budget to buy with, so I will buy more now as I am sure the economic uncertainty is far from over.
    fretboard likes this.
  4. baseball21

    baseball21 Well-Known Member

    The hold forever it’s going to the moon stuff has never been a good strategy. If there’s a huge bump in price take the profits, you don’t need to catch the tip of the mountain and usually trying to do so means you miss it all waiting for it.
  5. slackaction1

    slackaction1 Supporter! Supporter

    I think I should have took that advice a few weeks backs BUT when The GREEDYNESS took over thinking it will break into thirties and then sell a little .I held on to the moon stuff as you stated.. another bad decision.. blind note: still have all my shiny stuff and still holding watching price drop...
    Nolan Workman likes this.
  6. Nolan Workman

    Nolan Workman Well-Known Member

    The value of gold and silver remain constant, it is fiat money that changes and is being manipulated now. Before Nixon, a dollar represented a dollar's worth of gold, now, it represents the government's "promise" as to it's value. I don't hold enough to be concerned.
  7. Randy Abercrombie

    Randy Abercrombie Supporter! Supporter

    Two weeks ago I did reduce my stack by almost $2000.00 worth. Then immediately used that to purchase a double eagle!... Nothing ventured, nothing gained I suppose.
  8. YoloBagels

    YoloBagels Well-Known Member

    Bought some at $13 sold some at $25, just as with all assets silver drops and rises. I did sell a large portion of my stack in January to pay for FUN though :banghead::(
    Randy Abercrombie likes this.
  9. Chris B

    Chris B Supporter! Supporter

    I sold 132 ounces a few weeks ago. All at $27/ounce. I have a buddy that has a monster box of ASE he was offered spot ($29ish at the time) plus $1.35 and turned it down because he wanted to see if it would go higher.
    kazuma78 and slackaction1 like this.
  10. slackaction1

    slackaction1 Supporter! Supporter

    YEP That voice in my head needs to shut the hell up.. told myself sell at 26. and didn't.
  11. -jeffB

    -jeffB Greshams LEO Supporter

    Absolute nonsense.


    Or, to put it a bit more charitably: You're free to pick any one commodity and say "this is the measure of value". Any time you pick two, you're already in trouble.
    BJBII, YoloBagels and Insider like this.
  12. Speedbump

    Speedbump Not a New Member

    I sold off a large portion of my physical holdings over the last several weeks. I was surprised at just how much some large dealers would pay over spot, so I jumped on the opportunity.
    ZoidMeister and FryDaddyJr like this.
  13. Peter Economakis

    Peter Economakis Active Member

    I have no knowledge in precious metals economics. Seeing the $5 drop and dropping on silver,
    When or if will ebay or any coin or pawn shop show lower buying prices?
  14. FryDaddyJr

    FryDaddyJr Junior Member

    "bigger fool" theory in motion
  15. FryDaddyJr

    FryDaddyJr Junior Member

  16. fretboard

    fretboard Defender of Old Coinage!

    I guess you could say you had gold fever, been there, done that! :D Nothing ventured, nothing gained, so you're still doing well! thumbsup.gif
    Last edited: Sep 26, 2020
    Randy Abercrombie likes this.
  17. Nate333

    Nate333 An Eye for an Eye; Makes the World Go Blind.

    This is interesting to me, because this is my dillema too. However, If I'm honest with myself(which in most cases is super uncomfortable), while I watch the spot price and get excited when it goes through the roof, I never consider selling. I dont care what the price is as far as profit goes. The spot price is the weapon I use to justify my excessive spending habits to my responsible and adult-like wife. I like to look at my silver, touch it, toss it up and down. I like to think about which coin or round ill buy next, or which one is the one that if I ever get the money to I'm going to get that one. I've come to the conclusion that if silver went to $1 an once I would just be able to afford all the items I've dreampt about looking at on my desk. I like the designs and the shininess, I like the way it sounds. I might never sell anouther gram of my prescious metal, because then I wouldnt be able to enjoy it myself. Thamnk you for listening. enjoy your day. IMG_20200925_203804.jpg
  18. Peter Economakis

    Peter Economakis Active Member

    1400 posts and only 200 likes..
    Now I get you:rolleyes::yawn:
    Last edited: Sep 26, 2020
    Randy Abercrombie likes this.
  19. FryDaddyJr

    FryDaddyJr Junior Member

    If you want a friend, buy a dog
    slackaction1 and midas1 like this.
  20. Peter Economakis

    Peter Economakis Active Member

    slackaction1 likes this.
  21. midas1

    midas1 Exalted Member

    How much are dealers paying over spot?
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