One Possible Benefit of the Low Silver Price

[Recyclersteve]

Lots of people get upset when the price of silver goes down sharply like it has recently. And, yes, there is the chance to buy more at a lower price.

But there is another benefit of the price of silver being so low. There are lots of people who won't sell at this low of a price. They at least want some kind of profit and are waiting for it to go back up to $20, $30 or higher where they can claim at least a modest profit. Some of these people are going to die before they sell their silver. And a percentage of them will have heirs that don't know what to do and take the coins to the bank and turn them in for face value.

The longer and lower the price of silver, the more likely this is to happen and perhaps on a fairly sizable scale. While I don't want to wish ill will for anyone, those who watch carefully and are constantly going to the banks (like saabman who gets lots of boxes of halves) stand to have some big paydays at some point in the future.

What does everyone else think?

[Cu Penny Hoarder]

But there is another benefit of the price of silver being so low. There are lots of people who won't sell at this low of a price. They at least want some kind of profit and are waiting for it to go back up to $20, $30 or higher where they can claim at least a modest profit. Some of these people are going to die before they sell their silver. And a percentage of them will have heirs that don't know what to do and take the coins to the bank and turn them in for face value.

That is most likely the mentality of the many here. However, there are also many who are/were desperate for cash and sold it already. More people I know did this rather than HODL it. There are lots of people out there who are barely making ends meet and cannot afford to HODL. I use my LCS owner as a "street sentiment" indicator. I always ask him if people are selling or buying.

Me?... I plan to keep accumulating as long as it stays below $18. Later I'll sell most of it a little at a time. It is my retirement savings. Leaving it to naïve, ignorant heirs is not in my game plan. If an unfortunate accident would befall me, but I have left specific instructions what to do, not a will.

[Know Common Cents]

My heirs can roast in Hell if they don't like what I've done with my discretionary income. I've worked quite long and hard to get to where I am, so they can whistle into the wind on a long dark night.

[Recyclersteve]

My heirs can roast in Hell if they don't like what I've done with my discretionary income. I've worked quite long and hard to get to where I am, so they can whistle into the wind on a long dark night.

Sounds like you might want to redo the will. You can always have a charity as a beneficiary if you like. I have a friend who is single and has no kids. When he dies, he wants everything he has to go to Goodwill.

The only thing I haven't figured out is how that actually works. For instance, if Goodwill doesn't know that he died, how would they ever know to place a claim on the will? Anyone know how this works in the real world?

[68Camaro]

Most major charitable organizations have a legal department that will gladly setup the will for you if they will be a significant beneficiary.

[Know Common Cents]

Alright. Alright. RC commenters have caused me to rethink my Ebenezer Scrooge attitude...somewhat. Had a heart-to-heart with my Daughter and she's on board with the whole PM thing.

Geez. Great advice and I didn't even have to pay an attorney $250/hr to have the light bulb in my brain become illuminated.

[Recyclersteve]

Glad you rethought your stance. I look at it this way. Would you rather have the money go to family or government? There are probably very few who would choose government.