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Well? are you and why?

I am on the fence because I'm flush with cash at this time and need something to do with the proceeds that would work for me.

But I hate to let another selling opportunity pass.....till I die!.

No. Unless there is an emergency, I hang on to my shiny. If circumstances require it, I will use to buy food/shelter/protection. I hope I can bequeath all to my wife and kids.

Prices have reached the point my purchasing has stopped, but I have no plans to sell.

PMs prices in terms of FRNs will always be subject to ups and downs to the extent of the market difference we saw between say 2010 and 2020. So yes, in the short term one can get caught out within that cycle if you buy at the high end of the cycle. And - in part - I did. But I also dollar cost averaged. So that in the even longer term (and I believe we are now seeing the continuation of the longer term trend) it eventually matters less how much you initially paid to get into the market - if you can stay in long enough to recover.

Short answer - no not selling (which is trading for FRNs).

I plan on selling some once we get back to $31, but maybe as low as $27 depending on how premiums hold up (mainly to bring my dollar cost average down). But I will hang on to the bulk of my holdings, and I'm sure I will find a few more buys along the way. But for the most part, acquisition mode is over, will be hoping to trade into gold at some point in the years ahead.

I am only selling some stuff which I can fetch a good premium or to trade up. I have stopped buying anything except some very good deals on stuff that personally interests me. I will sell more as the price goes up, but won't start to seriously sell till around 50/oz.

blackrabbit wrote:I am only selling some stuff which I can fetch a good premium or to trade up. I have stopped buying anything except some very good deals on stuff that personally interests me. I will sell more as the price goes up, but won't start to seriously sell till around 50/oz.

My selling point is $40 per oz. at that time I will unload my 40%

You would be a fool to sell into this rally. This ride is just getting started. Wait until the FOMOs pile in. We are nowhere near parabola.

I keep a small amount of silver set aside- that which has a cost basis of ZERO since I've found it over the years at Coinstar machines and other places. That I would consider selling, but not yet.

The bulk I am likely keeping a lot longer. The problem I have with selling is that I don't want to convert my silver into FRN's- I will be LESS diversified if I do. I would like to do something like getting a car or having an expensive home repair done and paying for it with silver. That way I wouldn't have to take money out of my brokerage account and pay taxes on the withdrawal. At least not yet.

The best part about finding my over 2,000 ounces at face value is that I can just sit back and a enjoy the ride. Besides it allowing my silver hands to be super strong, it also gave me no reason to be disgruntled when we were at $14.

Will I take some cash off the table at much higher prices, maybe. While I am by no means rich, like Thogey I am currently flush with cash and not looking to turn real money into more fake money.

For all the reasons I just described I really like the looks of all this.

Definitely interested in unloading. But waiting to see if prices can go above $30/oz.

I'm waiting for $50. Not saying it soon, just that I'm waiting for $50. I expect to see it eventually.

My answer sounds very similar to Black Rabbit's except the interesting stuff will go for even crazier premiums once we hit $50 so I'm selling that last. Things like hand poured bars, specialty bars, etc.

I wasn't planning on selling in this market. If it gets high enough i may just change out my shiny metal for dirt or at least a '68 -'70 442.

Cuz who knows when the next run up will be?

I'm moving my hedging price higher to 22.50. At that point, I will be shorting futures to be aligned with physical... If it goes lower than that I am fully hedged.

Otherwise, balls to to the wall! We're going higher boys!

With reported spot at $24.50 I'm seeing junk US dollars on ebay ending north of $30 each, plus tax & shipping...essentailly making them melt + 100%. Sorta hard not to take advantage of the high premium buying panic on those items. If only to plow the funds back into more reasonably priced silver products.

I have been stacking silver and searching bags for the past 25 years or so. A little each week, almost every week. Never paying over 13x face for barbers and mercurys. I also bought Morgans for $18 or under. Selling at today's prices would be less than 2x my average cost. That's not why i was stacking silver. Aside from liking old coins, I hoard silver for either a terrible event in the economy which I hope to never see, or a significant appreciation. Gaining 2x in avg 12 years is just not what i set out to do. I will hold for MUCH higher. I may look through boxes and sell some of the worst junk culls that i should never have bought in the first place. But otherwise, it is not time for me. If i was 10 years older, I might have to sell a portion.

I sold $9,600+ of silver yesterday, sort of...

I sold 2,000 shares of the stock Endeavor Silver (EXK) instead of the actual physical silver. This was a big relief on a stock that I first bought in 2012 and tripled down in 2017.

In March when the COVID situation exploded the stock was as low as 99 cents a share- I was under water by over $7,000. I sold at $4.82 a share in the pre-market session on Wednesday. It was the first time in almost 8 years that I could get out with a modest profit. I made about $400- no big deal- but I got my money back and a bit more. By the end of the day the stock was worth $963 less than when I sold it. I feel good about getting out when I did. I don't care how high it goes from here- I will take what I got. Whew!

Possibly split the difference and sell half of your assets if you truly are a thogey. LOL. Seriously such a decision has many more complexities that make it hard for any of us to give input.

I'm just getting started with my gold/silver, but if I had what you guys have, I don't think I'd be selling at the moment. I'm legitimately concerned about the following things right now:

1. the economy: I don't know what's worse- the impact from COVID, or, the impact from the political and social climates!
2. foreign relations

The news is doing a great job of trying to hide the truth, but we are definitely in a really bad place right now. That, compounded by the fact that there are so many people out there in COVID denial, are going to keep this mess going for quite a while.

If I had the stash you all have acquired, I'd be hanging onto that for a while. I hate sounding like a pessimist, but things are only going to get worse, in my opinion.

shinnosuke wrote:No. Unless there is an emergency, I hang on to my shiny. If circumstances require it, I will use to buy food/shelter/protection. I hope I can bequeath all to my wife and kids.

Sorry for quoting myself, but I wrote those words above on July 27. Prices are now higher, but I do not feel "glad" that I waited. Sure, I feel more justified in my investing decisions. However, I've got nothing for sale. My last transaction a week ago was a purchase.

I remain,
The Hoover vacuum of PMs

Lemon Thrower wrote:I'm waiting for $50. Not saying it soon, just that I'm waiting for $50. I expect to see it eventually.

My answer sounds very similar to Black Rabbit's except the interesting stuff will go for even crazier premiums once we hit $50 so I'm selling that last. Things like hand poured bars, specialty bars, etc.

Can you expand on what this means? $50 what?

$50 per oz silver

Thogey wrote:$50 per oz silver

Ahhhhhh, my bad. I missed the silver part!

I don't see how silver doesn't challenge $50 in the near term. That will be the point where we have some big decisions to make. What will the premiums be like? Is the economy beginning to stabilize? Is sentiment overly positive? Are there other assets that appear to be undervalued?

Morsecode wrote:With reported spot at $24.50 I'm seeing junk US dollars on ebay ending north of $30 each, plus tax & shipping...essentailly making them melt + 100%. Sorta hard not to take advantage of the high premium buying panic on those items. If only to plow the funds back into more reasonably priced silver products.

Beware of ebay chargebacks and returns if spot drops within the next year