Realcent.org

I've got about 70 ounces of silver and I am looking to sell it all off in hopes of buying silver when it dips down really low again. I got in when it was right around $28 per ounce... that's when I really started learning all about silver and the value of silver and just how bad things would be if I did not have any silver if SHTF. I am opening an ebay store soon and I was wondering what you guys thought about selling off my silver right now seeing as how it is up to nearly $37. From my minimal experience watching silver for only about a year, I can assume that we are due for a correction down to $31 or maybe even lower. Is it a good idea to sell it off now (and keep that money for hoarding more silver or copper) I can't see silver going up much farther right away before another correction but I could be wrong!

Most here will tell you not to sell PHYSICAL silver in order to make a few ounces. Since you bought in at such a high level anyways just hold onto what you have. Paper silver is a different story. If you have the guts to short silver, go ahead and buy some ZSL.

Think it about it real hard. What you could gain a few free ounces out of it. You also could lose more it seems. I Think that question has been on the lot of minds of people actually. But this is all under the impression that we will have a correction. I am yeah we'll probably have a correction at some point. But the correction could get smaller and smaller as the market progresses. The next correction could be $3 dollars say. If you were lucky enough to sell it at spot awesome. Then you re-purchase it. Also consider the higher premiums we have been seeing. Much higher premiums. In the end it seems like you could take the risk and gain and little, or potentially lose a lot.

"I *mean yeah.."

No way, you try to time the market you will lose sooner or later.

I'm pretty sure there is a correction coming, but not sure enough to sell, and I got silver I paid $4 bucks an ounce for, I got silver eagles I paid 6 bucks for, anyway, you get the point.

Some have played that game, but what if you get caught out in the cold, and it doesn't drop like we think?

I put off buying when it was ~$22 before the election because i was 100% positive it would go down after the election, but guess what? they announced QE2 and it hasn't been under $25 since. If i had sold, I would be out in the cold.

It all depends why you are in it to begin with. You could sell now and hope for a "correction" that lowers the price and not a "correction" that raises the price and have no silver in hand in the mean time. If you got into silver for a SHTF event then don't sell unless you know the world is safe.

On the other hand if you bought silver to make a profit then you could sell and be happy. People I talk to about stocks tell me in these situations I could always sell a small amount and take some profits. I don't like doing that because the stock could always go up more, but it could also go down. I do it anyways because I think its useually the right thing to do for non-dividend paying stocks.

So if you bought silver to profit then sell and you will realize your goal. If you bought silver to own silver then... check that one off the "to do" list.

a big huge "NO WAY" from me!

I think we may dip into the low 30's for awhile.....maybe. Then onto 50!

What makes you think that you'll easily be able to replace your holdings with equivalent silver at lower prices? There are no guarantees that premiums will be the same at that time that they are now, or even that people will sell at lower prices. Seems like eBAy is the only one that wins in your scenario.

Market Harmony wrote:What makes you think that you'll easily be able to replace your holdings with equivalent silver at lower prices? There are no guarantees that premiums will be the same at that time that they are now, or even that people will sell at lower prices. Seems like eBAy is the only one that wins in your scenario.

I do a LOT of buying on ebay... and it seems as if even when a dip takes place the bids remain at the same level, as people expect the prices to soon return to the new normal. So, if you sell to take a profit, good luck replacing it. You'd probably need a $6 pullback to replace your silver $3 cheaper than what you sold it at.

999Ni wrote:a big huge "NO WAY" from me!

I think we may dip into the low 30's for awhile.....maybe. Then onto 50!

WORD.

The only way I'd sell right now is in the case of an emergency. I had to nearly sell out after surgery a few years ago, and I'm still Po'ed about having to do it. (Glad I had the fall-back though!)

Checking Kitco this morning I see everything is down with the Japan situation, everything that is except Gold and Silver! I keep thinking there will be a correction too, but not enough to sell any but a small fraction of my stash. When I sell metal I usually just buy more cooler metal, kind of just trading up. I would only do it if I needed the cash to buy something significant like tools or something else you really need.

No offense, but this is a bad idea IMHO. If the bid/ask spread doesn't bite you, the premiums will. This bull is trying to buck you off. Don't let it shake you out of your position. The violence of the volatility is going to bite you if you think like a trader instead of a hoarder.

You need to be clear why you own silver in the first place. Buying silver is not like buying a stock, bond or any other asset. It almost has a cult like following that is growing stronger every day. Some buy for the financial opportunities. Some buy as a way to “stick it to the man.” Some buy as a shot in the next American Revolution for freedom. I buy for the honesty of the money. There are hundreds of reasons to buy silver but very few reasons to ever sell for dirty green pieces of paper or for electrical impulses on some bank's CPU RAM. My advice is to let corrections be buying opportunities to accumulate more metal. The party will be over soon, and the spot is going to go for triple digits so fast you'll think your hair is on fire.

Oh yeah, I absolutely love my silver. It is fantastic and beautiful to touch and jingle I do want it for all of the same reasons that you guys want it for sure!

I just can't help but think that for the same reason that I am buying silver would be the same reason that I would sell silver now. I see it is at 35.90 today and I am definitely excited. Perhaps I will put some silver up on ebay that I sell at a premium to make money. By this I mean, sell silver like I would in person as if I owned a coin shop. People are dumb and in a frenzy on ebay so if I can make a little cash why not I say.

I think I will hold onto it then, you guys convinced me. Now I REALLY gotta start a penny hoard. My girlfriend and I might be buying a house fairly soon. Then I can start going hardcore on the pennies in a basement. She totally understands silver and the penny hoarding

If you can get decent money for it, I would do it. Again this is my perspective. I 100% believe it will be in the 20's again soon, but do also believe it will hit 50 in the next yr or so. I've sold most of what I have and have been buying real estate. I buy RE for keeping not for flipping so mine is 99% safe. everyone needs a place to live and if they lose their house then they need an apt! It's a risk either way, but do what you feel is best for you

misteroman I havent heard that yet and is a great line. "Everyone needs a place to live and if they loose their house then they need an apartment."

lol sad but oh, so true!