Silver being Dumped Heavy

[Rodebaugh]

Anyone besides me feel like a lot of AG has been trading hands here on Realcent as of late. There are a few members that seem to be selling the farm and as always a few members buying that said farm. It just seems that the quantity as well as the quality has been abnormally high this past week.

Someone needs to give me an argument from the seller’s perspective. Buyer's arguments are also welcome.

I know how I feel about silver at this juncture and of course that guides my actions; but I want to know (specifically the sellers) what your thoughts are. What is driving you to part with those BU rolls, partial sets, ASEs, morgans, ect? What is the sentiment here towards future spot price? Are more people jumping off the spot fence to either the increase or decrease side and acting through buying or selling?

Rodebaugh

[Thogey]

As you know I'm a buyer, rarely sell. I sell only if I've overbought and need some cash or run into a good flip. I have been selling some junk and buying better quality items (e.g. proof halves).

I'm in it for the loooong term. As painful as these prices are, it's still easy to liquidate IRA shares, pay the taxes and say good-by the paper and the Uncle Sam's control over my familys financial destiny.

[NDFarmer]

Probably some people just taking some profit. I know I bought a bunch of Morgans back when they were $16.00, $17.00, $18.00 a piece. Very tempting to dump them now but I like my Morgans too much, I just can't let them go. I am sure my kids or grand kids will sell them as soon as they get their hands on them. That is if my wife hasn't dumped them at the bank first. Maybe some people thinking silver is due for a price correction. It can't keep going up forever. I hope it does pull back about $10.00 so I can buy a little more.

[Rodebaugh]

Yeah I still have every AU-BU peace dollar I bought from a certain member for about 15 bucks a pop just a few months back myself . I have traded and sold a few morgans. I have dumped almost all of my junk and replaced it completely with proof solid roll 90% state quarters.....selling some of those pesky halves and dimes along the way. Turned some ASES into Kurr gram bars for fun. Buying a PCGS morgan or peace here and there for my sets. Acting on every limit one coin per customer offer I come across buying a few gold 1/10ths and/or ASEs. I still feel like I am aggressively buying.

[marhjan]

Anyone besides me feel like a lot of AG has been trading hands here on Realcent as of late. There are a few members that seem to be selling the farm and as always a few members buying that said farm. It just seems that the quantity as well as the quality has been abnormally high this past week.

I would think it has something to do with the holiday and overspending. Selling silver, even if not one's first choice, is quick and easy and it's near historic highs (with the exception of the 1980 spike) so a quick way to pay off those CC bills. Just my guess

[Market Harmony]

I know why I sell when I sell, but I doubt my input would be of much use.

I suspect that each person has their own reasons, but I don't think that if they thought they could sell it for more next week that they would be selling it now... that's their own little speculation and I'm neither going to agree or disagree with the connotations.

I really like seeing the action going on in the marketplace here. Folks, we're a lucky and blessed bunch to have each other. Being able to transact the way that we do is special. Large or small, buying or selling, it's great working with everyone here.

Here's to fun, here's to profits, here's to the New Year, and here's to everyone:

[uthminsta]

I'm selling my silver because FRNs aren't as heavy.
Actually, the silver I'm selling, particularly the Barbers, I'm hoping someone will like them and begin / expand an actual COLLECTION. I hadn't counted how many different date/mint marks there were, but they weren't all the same. In fact, most of these were in 2x2s and used to carry a little numismatic premium. The dealer I bought them from just didn't want to bother marking up hundreds of coins a few cents each, so he sold them to me at the "old" price.
As for the timing, I started this particular auction when we hit 600 members. Then right after, some of the spammers were nixed, so we went back down to 580-something.
With all the early auctions I did on the new site, I had hoped to pique some members' interest by putting some stuff I know you'll bid on (US silver) alongside some Mexican or British or Canadian or Panamanian etc. stuff and maybe the buyer will see something cool and take a new interest.
I also like to test my understanding of the buying interests of the people in this awesome group. I've been pleasantly surprised with some of the closing amounts, and I've been somewhat disappointed with some. But really the joy comes from the buyer getting and enjoying the coins, and from knowing they appreciate what they got. From introducing something fun to it, not just pure profit.
I'm not selling because I overspent on Christmas. Or because I overbought silver. But that makes a lot of sense because I can imagine that happens to the best of us.

[beauanderos]

I sold $470 face of 90% silver halves to APMEX yesterday (of course the price rises today) but it was basically scrap, the winner of every ugly contest in the past seven years I've been buying. The proceeds will go to pay down the balance on a credit card that I loaded up to buy BU rolls when they were 18.5X face. Still in silver, just converting some junk to BU.

[whatsnext]

Well considering that you could have bought 2 oz a couplemonths ago most people who have been buying have stopped.

Now they see that getting double back isnt a bad thing and that 500 dollar dream isnt written in stone(100 for the realist) and has no date to plan ahead for it.

Too much drama also Its getting mentally strange in the silver market(interesting times) somethink it's time to bale now before it gets to be a headache.

Anybody who has held for a year or two could shake off the swings before but now it's weird and your made of stone if you dont reflect alittle and have doubts.

I'm not selling yet, but I'm not buying either

[Rodebaugh]

Thats it I am not doing squat for 2 weeks. Unless some yae-hoo is selling morgies for 15 bucks a pop I am going to sit it out. Check out the Buy it now section....It's on fire!

As for new years....I am off to the dog track to play the nickel slots and set a new personal drinking record. By the stroke of midnight I will be escorted by guards from the premises after trying to saddle a dog and ride him into the prosperous new year.

Joking aside: Folks be safe and have a good time and may 2011 be our best year yet!

[slickeast]

I sold some lower % silver. ( War Nicks and 40% ) and used the money to buy some .999 10 oz bars that someone wanted to sell at melt to buy Christmas presents.

I have considered selling at $25 , $28 and $30 thinking we would see a dip to $20 and I could buy back more than I sold for the same amount.

I keep saying, SELL, it has to pullback. Then I go to Kitco and it keeps climbing.

[TXBullion]

I sold some to convert to cash for a coin counter, new "accurate" shipping scale, and get some cash to buy more silver like I ended up doing because I couldnt stand a good deal getting passed over a whole bunch. I also want to get some cash together and hopefully buy more Silver or Copper shortly, heck, maybe some more Nickel

Plus Im newer to metals and I love the fact to know I have something liquid. What better way to know than selling some even if you are predominatly a buyer. Plus, In the mix of it all, hopefully I can make a few bucks and reinvest back into it.

Thats my piece and Im sticking to it!


Happy New year and Glad to be a part of Real Cent and have a great group of people sharing similar interest. Happy New Year

[Rosco]

I;m Down south in the SUN an 45 miles of bad road from the bank an 50 from pawn an 65 from coin shop

I don't use ppl So can't buy on dips during day but in three weeks will have chance to buy Face to face an will

bought late in game so want POS to continue UP

Happy New Year an Peace to All

[argent_pur]

I sold (not here) 500 oz. several weeks back when the GSR dipped to 48 for the first time this year, and converted to 1 oz. K-Rands. I've sold some rounds, coins, and junk silver here on Realcent to convert to ~1/4 oz. gold coins (UK Sovereigns and S. African 2 Rands). I'm still hunting for silver at banks, which I'll eventually sell and then buy gold. I'm switching to more of a safety-oriented portfolio, making gold the majority of my holdings, and holding some silver for profit potential from its industrial uses, but not as a hedge against disaster. Gold is a better metal for that. I guess I'm just being persuaded more that silver is not really just poor man's gold, but is a different entity altogether and should be treated as such. Until something drastic changes, silver is viewed as an industrial commodity by the big money, not a monetary metal. I don't ever have to worry about how gold is viewed.

Plus, if central banks hold gold, that's what I want to be holding, too.

[coppertone]

Prices in general are going up because there are more buyers than sellers.

I think the need for cash to pay for this typically expensive season may be motivating some sellers. When money owed me was late in coming, I had to sell before Christmas to pay for furnace repairs and stuff for the kids However the money arrived a couple of days ago and I'm back buying.

I did find some newly listed Buy it Nows on Ebay that were incredible deals, some 80% Canadian silver halves and a complete 1976 Canadian Olympic 28 coin Commemorative set (92.5%), in total nearly 35 oz ASW for about 60% of melt value shipped. What motivated the sellers,desperate for fast cash or just ignorant of true value, I'm not certain.

Hey cool, my 100th post.

[Sheikh_yer_Bu'Tay]

I have been accumulating & holding for 46 years. I am now looking for land to buy. I just may sell now to pay cash for the land.

Then again, I am still convinced that someday soon, it will be fifty bucks! So maybe I'll hold.

Buying at $30+ is painful... but so was the first time I bought at 9.00!!!

Happy new year to everyone! May next year be filled with silver in your pockets, and gold in your hearts!

[Jonflyfish]

And Scotiabank is sold out of bars-

https://www.scotiamocatta-estore.scotia ... CMimV30%3d

[GTOJohn]

i've been buying some - as a new member to build some feedback/trust, to get a chance to deal with some members, and to add to the collection. i am new to realcent, not to metals though. ive enjoyed everyone so far - and expect to in 2011. Happy New Year !!!!

[goodcents]

I have been away for about a year but getting back into the buying selling end of silver. With a big move, new child, new job, etc now I honestly have a little more time to spend on the hobby. Anything I've sold in the last few days was merely good timing. I'm still very bullish on silver and continue to buy daily as well as sell. I'll be honest and say that I'm doing more selling than buying but that's probably due to the lack of deals I'm seeing and finding. A ton of people have jumped on the silver bandwagon and finally see the potential silver has to move forward and at a pretty dang good pace. I wouldn't see an active marketplace on here as any form of a selloff. Just my views

[mr18]

I have seen some incredible deasl here, because of that i became a member. i am new to precious metals and hope to make my first purchase early next year!

[HPMBTT]

Speaking of feedback......does Realcent offer a place where you can view feedback of members who have sold/bought, similar to FeeBay? Just checking...thanks.

[uthminsta]

Speaking of feedback......does Realcent offer a place where you can view feedback of members who have sold/bought, similar to FeeBay? Just checking...thanks.

Yep, they sure do. It's within the MARKET forum... check it out here: viewforum.php?f=32

[myfundsarelow]

A Happy new year to all, i have nothing to add to this post its all been said PEACE!!

[Devil Soundwave]

I overspent a little at xmas. I'm not having to sell any of my meagre holdings thankfully, but it does mean I have only been able to spend around £250 GBP on metals this month when I usually aim to invest at least twice that. Roll on pay day! :/

Might hunt stuff out to sell on Fleabay again tomorrow - old comics and stuff...