What would the spot price of silver have to go to in order to profit from selling?

Discussion in 'Bullion Investing' started by Kevin Dore, Sep 10, 2018.

  1. Kevin Dore

    Kevin Dore Active Member

    Kinda getting way of subject here I know, but since I'm the OP I guess nobody will mind lol.

    I do wish I could find a LCS that I could have aa grea relationship with. I've never run into a dealer that ever treated me wrong or even seemed untrustworthy, but I have a hard time finding one that is big enough to have everything (or most everything I'm looking for) and be not so busy every time I walk in to have time to actually discuss things without feeling that I'm getting in the way. They always seem to either have a small selection, our they just want me to hurry up and purchase so they can get on to the next customer.
     
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  3. desertgem

    desertgem MODERATOR Senior Errer Collecktor Moderator

    One thing that also should be mentioned, but is usually not even considered is that since none know their economical or personal future is their 'vow' to never sell their silver until it is over the positive return level from purchase...To never sell at a loss. But for some reason they may accept a loss in business ventures, stocks or options, sports betting, personal loans, lotteries, etc. as part of life. One member a long time ago mentioned that for a home purchase, he took out a larger loan @ a high range ( 6.5+ % then for 30 years ) than sell his personal gold/silver holdings ( investment) @ a 2% loss from his purchase total-including prems. If a person can't see the financial error in that, they are either mathematically challenged, extremely over confident, or a hoarder. If it is a part of your investment portfolio, treat it as one.If it is a part of 'You" , that's ok too, just recognize the fact its not an investment as such, as you will probably never part with it.
    Jim
     
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  4. Prez2

    Prez2 Active Member

    I've been thinking about buying a bunch more lately too. The sentimental value you mentioned makes those items somewhat priceless in my opinion. I gave up crh a decade or so ago because I was so used to finding extremely high percentages of silver that it was ridiculous. I admit it is fun though.
     
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  5. Johndoe2000$

    Johndoe2000$ RE-MEMBER

    What type of bullion you buy/sell is important also. Example, my LCS will pay $1 over spot for ASEs, but $1 under spot for generic rounds or bars. So I like to stick with ASEs most of the time.
     
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  6. Prez2

    Prez2 Active Member

    Personally I'm holding out for 75 an ounce. :)
     
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  7. Collecting Nut

    Collecting Nut Borderline Hoarder

    That's your choice but I'd like to suggest you don't hold your breath too. :)
     
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  8. Johndoe2000$

    Johndoe2000$ RE-MEMBER

    $75 or 75¢ ;) :)
     
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  9. Prez2

    Prez2 Active Member

    Dollars, of course. If it goes to 75 cents, I'll melt it all down and maybe make a statue of myself.
     
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  10. Prez2

    Prez2 Active Member

    Oh I'm not. Meanwhile I'll hold it.
     
  11. SilverMike

    SilverMike Well-Known Member

    I've bought silver of various kinds over the years, done some coin roll hunting, found some in CoinStar machines, etc. - so keeping a spreadsheet that tells me my average price is helpful. By putting in the current spot price it also gives me the return on investment, also good information when considering whether to sell. As many have said over the years, it is the average price you pay over time that is key.
     
  12. Phil Ham

    Phil Ham Hamster

    I've purchased a bunch of silver recently. I'm thinking that the US debt exceeding $1 trillion per year has to come home to roost but I've been very wrong for so many years. I will sell when the price goes above $17/ounce (if ever). I making so much more in the stock market.
     
  13. 1970 Silver Art

    1970 Silver Art Silver Art Bar Collector

    For me, I have an ebay/online business where I sell '70's silver art bars and other "collectible" silver art bars/rounds.

    The silver that I buy is "collectible" bars/rounds that I can profit off of right now but I have to buy the "right stuff" at the "right price" and sell at the "right price" to make profit after paying ebay/pp fees and shipping costs. The disadvantage is that it will take time to sell at the price that I want with no guarantees that I will be able to sell at the price that I want. Overall, I have made a decent amount of net profit (after fees and shipping costs) during this month and so far for 2018.
     
  14. TheFinn

    TheFinn Well-Known Member

    If you want the best price, sell directly to the retail buyer. Take a table at a local coin show and sell directly to PM buyers. Cut out the middle man. You may be able to buy from the public at better prices than LCS's pay too.
     
  15. rte

    rte Well-Known Member

    Just bring a in a large fat wallet like SilverArt does:D
    Seriously though, making a profit is more buying it right then selling it right.
     
  16. Clawcoins

    Clawcoins Well-Known Member

    Make sure it's a bobble head. Those sell for more. :)
     
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