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What would the spot price of silver have to go to in order to profit from selling?
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<p>[QUOTE="Kevin Dore, post: 3185954, member: 96515"]I have a very small stack of silver in my collection. Definitely less than 2% of my savings, and I'm currently adding to it slowly. I have to wonder as a buyer, at what price would silver have to rise to in order for me to break even on my investment. Of course I have to pay a premium on every ounce I purchase, and one day when I may decide to sell it will be at a discount. What I do own I purchased for near or even at spot price. I select items that are not really collectible and therefore do not have a very high premium. I also have a good portion of my silver in the form of 90% junk silver.</p><p><br /></p><p>So just assuming I averaged 15$ an ounce for my purchases (just to make the math a little simpler) what would you say the spot price would have to rise to for me to break even or profit from my investment? What tips would you give for somebody selling silver? It seems LCS would be a good place for quick cash and a descent deal as far as not loosing very much from the discounted rate. Ebay would be a good choice if I wanted to put in some extra work to sell at spot price or possibly even receive a bit of a premium back myself, but it also seems risky as you could always loose money if you don't have your prices set just right or can't find the right buyers.</p><p><br /></p><p>Like I said, I am currently a buyer. I think the current prices of silver are great right now and it feels like a buyers market to me at the moment. I believe in averaging in to a market as the prices go down, and averaging out as they go up. I do wonder what target prices I should look for in the future to know that if I do sell I will surely be making a profit.</p><p><br /></p><p>Also, what are your suggestions for selling if I do ever sell off my stack. Do you think I have it right when I talk about selling to LCS or ebay? Or are there other options you would suggest, and why?</p><p><br /></p><p>These questions could also be asked about other PMs, but all I am invested in for now is silver, and speaking in terms of percentages, I'd have to guess that the answer to these questions concerning gold of other PMs should be very similar. I would like to invest in gold as well, and some day I may. It's just hard to get enough money together at once to buy a piece of gold large enough to keep my premiums down. I may someday soon start saving the money I'd spend on say 10 ounces of silver each month or two and save to buy that ounce of gold when I have enough saved.[/QUOTE]</p><p><br /></p>
[QUOTE="Kevin Dore, post: 3185954, member: 96515"]I have a very small stack of silver in my collection. Definitely less than 2% of my savings, and I'm currently adding to it slowly. I have to wonder as a buyer, at what price would silver have to rise to in order for me to break even on my investment. Of course I have to pay a premium on every ounce I purchase, and one day when I may decide to sell it will be at a discount. What I do own I purchased for near or even at spot price. I select items that are not really collectible and therefore do not have a very high premium. I also have a good portion of my silver in the form of 90% junk silver. So just assuming I averaged 15$ an ounce for my purchases (just to make the math a little simpler) what would you say the spot price would have to rise to for me to break even or profit from my investment? What tips would you give for somebody selling silver? It seems LCS would be a good place for quick cash and a descent deal as far as not loosing very much from the discounted rate. Ebay would be a good choice if I wanted to put in some extra work to sell at spot price or possibly even receive a bit of a premium back myself, but it also seems risky as you could always loose money if you don't have your prices set just right or can't find the right buyers. Like I said, I am currently a buyer. I think the current prices of silver are great right now and it feels like a buyers market to me at the moment. I believe in averaging in to a market as the prices go down, and averaging out as they go up. I do wonder what target prices I should look for in the future to know that if I do sell I will surely be making a profit. Also, what are your suggestions for selling if I do ever sell off my stack. Do you think I have it right when I talk about selling to LCS or ebay? Or are there other options you would suggest, and why? These questions could also be asked about other PMs, but all I am invested in for now is silver, and speaking in terms of percentages, I'd have to guess that the answer to these questions concerning gold of other PMs should be very similar. I would like to invest in gold as well, and some day I may. It's just hard to get enough money together at once to buy a piece of gold large enough to keep my premiums down. I may someday soon start saving the money I'd spend on say 10 ounces of silver each month or two and save to buy that ounce of gold when I have enough saved.[/QUOTE]
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What would the spot price of silver have to go to in order to profit from selling?
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