When should I sell my silver

I don't plan on trading back my silver for FRN's ever. I only have about 200 ounces and that is my security planket. When the time comes, I may trade my silver for other goods, but I don't ever intend on trading back for paper.

I may, however, trade into gold or platinum.

 

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I think I'm going to hoard about 8000 40%ers at $6.30 ($42.18/oz) and buy a benz LOL

 

When NOT to is early last September like I did. OTOH I sold 500oz and used the proceeds to buy a profitable business, so not kicking myself too hard. Still hurts to watch silver more than double in the interim while the business has another 6 months to go before my initial investment is paid back.

 

The good news in your story Speedie is that you have a very real influence on whether you business will succeed or not.
You have zero influence on what the price of silver does. So don't sweat it.

 

Agree with that!

 

You got it Buster and the Dollar hit another fresh low today.

 

Very close to my plan. I may make a temporary conversion into FRN's as a stepping stone to something else.

 

Ouch. That made me wince just reading it.

 

What's QE3 or QE2

 

The Fed's Quantitative Easing programs where they provide liquidity to the market (i.e. take out a new credit card). QE2 to expire in June.

Bluesboy65

 

whats the current market value of your wife today? lol JK

 

That was my thinking at the time and still is. The business (domain registrations) averages $1,000 / month in profits, and that builds over the years as existing customers renew annually and new domains are registered. So, once my initial investment is recouped in Sept/Oct 2011, those profits start to accumulate at a solid and reliable rate. Ultimately my ROI is likely to be far higher than it would have been by retaining the silver. Nonetheless from a quick hit perspective it's hard not to think about what might have been. The right thing isn't always the easy thing, in fact it hardly ever is.

 

Anytime after doubling your principal! If you bought into it late, then wait a little longer. There's no reason to sell right now unless you need the money.

 

If you wouldn't buy it today, then you should sell it.

 

That depends on the 4 Bs:

Beauty, Brains, Bedroom Skills, and Bucks (income) . . . in reverse order.

 

No bid if shes less than (EF-40)

 

Nice way to put it. I think it will go a little higher, but when it starts to come down it will come down fast. I also used the other method of deciding when to sell, which is when everyone starts telling you that you should buy. I have been seeing adds in every newspaper, one of my magazines had TWO ads, and several of my friends are asking about it or buying it (they have never been interested before). Due to all of this (and a baby coming) I have pretty much liquidated my humble silver holding. I sold most of my junk, eagles, and bars, but I kept my proof eagles, collectable coins, and about $30-40 in junk silver. I am happy with the money I made since I have at least doubled everything I put in and in some cases quadroupled. If the crash comes I will buy back in.

 

So, is anybody else getting whiplash from watching the silver and gold spot prices this morning?

 

I don't look, was there a lot of volatility? To me PM is a contra asset, if I find myself monitoring the market frequently, it would be because I was either contemplating buying or selling.

As an aside, historically market tops aren't as clean as 1980 silver because that was caused by a specific incident. Usually there are marked ups and down, with high volatility before a pronounced downward path. I am just observing, not saying what is happening. People forget internet stocks declined and then came back up well before the final crash. Maybe this won't be for a year, its not a prediction. This happens with most markets unless there is one overriding bit of news that is groundshaking. Passant will now accuse me of predicting a crash and being a PM bear on this board.

 

when in doubt

blow it out... its all bs. lets look at it realistically, Its silver remember the crap that people use to make garbage jewellery . Silver value based on propoganda worthless if you ask me.. SELL NOW buy ammo ammo prices doubled in three months.. guns or gold excepted but cash prefered