Is it time to sell silver?

[varmint]

$85

[Aurel]

I forgot I had this 2x leveraged silver ETF since 2021 in my portfolio. I was underwater for a while, but since it was not a very big position I never sold it. And boy oh boy did it shoot up now, +400% so far .

[gregpark]

Silver is 92 bucks now and the gold/silver ratio is about to drop below 50-1

[javadog]

Some interesting things going on in the UK market the other day will the central bank doling out liquidity to lesser banks...

[Cajundaddy]

I like this guy. He makes decisions by forming a plan and executing the plan without emotional reactions clouding his choices. He has some wise words on silver as investment and when you might consider selling a portion to lock in gains.

[aschen]

went to the houston coin show this weekend. Lots of sellers. Silver available for spot everywhere, 90% under spot. I don't know what they were paying but I think way back of spot like 12-15$.

Everything is too expensive for me right now so I left more or less empty handed for the first time in the 5 years I have been going. I did trade a loose 1ozt bar for a pcgs MS 64 gold liberty. I added 40$ as well. Im not sure why the dealer bothered I guess maybe a bit easier to sell the bar and it has .04 oz more gold than the coin. I was happy to get a beautiful historic coin over a generic kind of dinged up bar. I suspect he will melt it.

[gregpark]

Over $94 now. I'm thinking silver to maybe zoom tomorrow when the market opens. China already restricted export, now Mexico. Peru and the US next? Officially a Critical mineral now everywhere and soon to be in very short supply

[flatbutt]

So, if you do sell what shipping arrangement would you use to make sure your silver ships and is received properly? The sell price is getting very tempting.

[gregpark]

A dealer will offer insurance and recommend a carrier.
Tempting to sell, yes. I'm not selling any metal yet. The USD value has been going down for 50 years and will continue to do so. Metal can only go up

[flatbutt]

Originally Posted by gregpark

A dealer will offer insurance and recommend a carrier.
Tempting to sell, yes. I'm not selling any metal yet. The USD value has been going down for 50 years and will continue to do so. Metal can only go up

Especially so as I bought much of mine between $27 and $35.

[aschen]

I think metals will trend up long term and maybe even continue their rocket path for a while, I think there will be a bit of a correction near to mid term though.

Like I said tons of people selling with less buyers at the houston coin show this weekend, I think offers will be considerably back of melt. I heard apmex and others have relatively high minimums for buying currently ~10k. I guess that isnt all that much silver these days, certainly isnt much gold

[gregpark]

There are always corrections but I believe silver will well be at $200. by the end of this year. Maybe more. It has rocketed up so fast in just months everything is crazy. Small dealers and even the big boys aren't really sure how to buy at the moment. If you sell now you'll get way back of spot. I'd wait for a little stability in the market before selling. Besides, when it doubles in price again you might suffer sellers remorse if you sell now

[gregpark]

Now it's zooming

[GH85Carrera]

I have silver US coins. I just called a local coin dealer and he only is offering $48 per oz.

Most of it I bought as a kid for the coin's face value. Two 50 cent pieces is close to one ounce but it is just 70% silver.

[brp914]

JM Bullion pays $839 for 10 oz Ag bar at the moment.

[Cajundaddy]

Originally Posted by GH85Carrera

I have silver US coins. I just called a local coin dealer and he only is offering $48 per oz.

Most of it I bought as a kid for the coin's face value. Two 50 cent pieces is close to one ounce but it is just 70% silver.

Silver coins are often sold/purchased case by case. A broad generalization is around 48x face value but some highly prized collectibles are worth much more. If you wish to sell some, I would separate them by high value collectibles and general silver value. You could probably sell a percentage of your general silver coins today at multiples of face value and get the special coins into an auction where they would generate a higher market price.

[aschen]

The context must be 90% so called "junk silver" with minimal numismatic value

its around 1.4$/oz (quarters, dimes, halves) so 48$ is like 30$ back of spot.


Refineries have stopped taking 90% silver dealers can't dump excess inventory so they are paying very low.

Physical silver is separating from paper silver just as it did in the opposite direction at the beggining of covid. At that time silver went to like 15$ but you could not buy for less than 26$.

Now shops are paying way back of spot and if you go to an actual LCS or coin show you can but for spot or even less.

The bar for numismatic value is also a lot higher. Common date Barber quarters, Morgan dollars, and other things that used to be premium can be found at melt. The gold liberty I picked up this weekend in mint state 64 PCGS had no premium above melt. A beautiful nearly untouched 120+ year old piece of US history worth no more than a scratched up Krugerand.

[Cajundaddy]

Originally Posted by gregpark

The USD value has been going down for 50 years and will continue to do so. Metal can only go up

^^ This is exactly how I felt in 1980. A sure thing! Then precious metals went flat for 25 years as bonds and the stock market surged ahead. It was not my best hedge against inflation.

I do think precious metals still have a tailwind but how much and for how long, nobody knows. There is a rapidly changing geo-political environment happening right now and the possibility of this affecting markets is very real. My crystal ball is kinda cloudy. If I were invested heavily in metals I might decide to sell a portion and take profits to diversify a bit. A myopic view of any one market segment is how pigs get slaughtered.

YMMV

[GH85Carrera]

As a kid into coin collecting, for every birthday and Christmas I begged for gold coins when gold was $35 per ounce. I got underwear, socks, and a cheap toy, no gold.

Finally I mowed a lot of lawns (50 to 75 cents per yard) and saved up enough to get a $5 gold piece for 40 bucks.

The internet showed the world how common coins really are, and the prices tanked. I suspect much of my collection, gathered at the face value is just melt value. I have not added to my collection in decades.

I have these ancient Roma coins, and some Arabic coins.







None are very valuable. The only one I have ever identified ig G in my collection, and the top photo explains it.

It kinda blows my mind how a coin that is 2.5 centuries old is just nominal value.

[flatbutt]

I have hundreds of 1 oz bars and a nice collection of Morgans. I'll probably bequeath the Morgans to my kids. I''ll probably sell a few hundred 1 oz bars if it hits $100. and yes APMEX has a buy back minimum of $10K.