Time to sell some silver coins?

What are your LCS paying for coin silver?

 

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I'm curious, too. Often when a metal price spikes, offers from dealers lag considerably. It was different during the 2011 spike - at that point, I think a lot of dealers expected silver to go much higher than it eventually did. Anybody who bought at spot during those spikes has either sold at a loss, or has been waiting a long time to recoup their "investment".

(Okay, there are a few exceptions. Some people managed to find nice rarities at spot during the buying-and-selling frenzy. I'm keeping my eyes peeled for similar opportunities, but I'm not actively searching the way I was then.)

 

Sure...why not sell some of your supply. Sell in tranches to test the market.

Sort of the opposite of dollar-cost-average buying.

 

My LCS buy prices are not much higher than before the silver market started climbing.

 

I've tried to figure out the inverse of dollar-cost-average buying, too.

But "swap silver for more dollars when the dollars are weaker, and fewer dollars when the dollar is stronger"... just doesn't quite sound right.

 

I just got a quote 2 weeks ago from my LCS for $23/per coin. Nuh uh. I understand they have to pay overhead but he admitted they are selling the exact same coins for $33 each. That's a pretty excessive margin for a coin shop, that's almost pawn pricing. What really cracks me up........you can go to a pawn shop and get a better deal if you pawn them rather than sell. Just don't go back to buy them back, winning.

 

I was thinking the same thing. Why would anyone sell something like gold or silver to get paper currency that’s dropping in it’s inflated value?

 

Its basically like any other FOREX trade... you are trading a currency pair and betting on one or the other to go up. If you're trading USD vs GBP or JPY it is no different than trading USD vs Silver or Gold.

You bet that one is going up or one is going down, and you try to make a profit on the difference.

 

I was thinking about selling silver to buy collectible silver in MS condition. I think I mentioned this already, but not sure if that's a wise investment choice unless I can buy better than CDN values.

 

Now you are giving me a headache, like hedging long or short positions with call or put options.

 

I hear ya but I don’t know which is better so I’ll just keep holding my silver bullion, my junk silver coins and whatever else I have for now.