Anyone selling their silver? Thinking of selling half of mine. Don't want to be one of Cramer's slaughtered pigs.
Anyone selling their Silver
- Thread starter Hermann
- Start date
Yeah I've already sold like $20,000 worth and I'm going to sell more.
If you paid less than $25 an ounce and get $60 for it I don't see how that's a loss.
If you paid less than $25 an ounce and get $60 for it I don't see how that's a loss.
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Is cramer pushing silver now? I wasn't going to, but if he is pushing it that might be a sign.
Spot price right now as I am posting this is $75.98! You won't have any problems selling at $60.00!!!!! I would consider that a bit of a "loss" regardless of what you paid for it. I think $65.00-$70.00 would be a good target to sell. JMHO
They likely turn the junk into the bars costco is selling. Honestly I would rather have junk coins.
I'm waiting for $100
Adjusted for inflation, the all time high is around $200. So $100 is definitely possible.
Or we could get a pull back.
Nope!
I did stop buying quite a while ago, though.
I did stop buying quite a while ago, though.
Kestas
Staff member
My take on prices of stock and commodities is that they reflect the fact that half the people think it'll go up, the other half think it'll go down. This includes predicting prices six months ahead.
A lot of places aren't taking 90% and 40% coins due to refinery limitations. If you can find one that does you will be lucky to get 80% of melt right now. I would expect the situation will improve once the refineries work through the backlog.
I'm looking for a place to sell 100 ozt bars. Vermillion Enterprises in Central Florida is buying for $3 back of spot. Locally (Las Vegas) a well known shop will only pay $7 back of spot. Needless to say I won't take that offer.
Don't sell your silver until the gold/silver ratio drops below 50. The fact that it is still over 60 tells me that there is still quite a bit of upside potential left for silver (not to mention the fact that gold is still going up, so it is a moving target). The last time that silver hit a record price in 2011 the ratio went down to 31, that is the target that I am personally holding-out for. IMO silver will go over $100 within the next 30 days (if not sooner).
Well, my previous prediction has come true today, silver has broken the $100/oz price barrier, 3 days ahead of my above prediction. Gold has also broken through the $5000/oz price barrier, so silver has broken below the 50:1 silver/gold price ratio as I also predicted. Again, the gold price is a moving target. IMO silver is still the better buy. IMO the ratio will go lower. Some are predicting that the ratio will go as low as 14:1 but I don't share this view. I do believe that it will go to maybe 35:1, if this happens silver could realistically go to $250/oz or higher, so I am going to hold out selling for now. Regardless, I don't think that silver will ever go below $100 again.
One caveat to the current silver value... you are not going to actually get the over $100/oz price for your silver, dealers are only going to pay between $85 and $95 an oz and may not even be interested in buying right now because they are fearful of a price fallback and losing money.
One caveat to the current silver value... you are not going to actually get the over $100/oz price for your silver, dealers are only going to pay between $85 and $95 an oz and may not even be interested in buying right now because they are fearful of a price fallback and losing money.
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Still hanging on to mine. My average cost is $26.xx. Around here they are paying $15 back.
Momentum buyers eventually run out of momentum.
If you were thinking of selling and have an unrealized gain, don't get greedy. Leveraged speculators get out even faster than they get in.
If you were thinking of selling and have an unrealized gain, don't get greedy. Leveraged speculators get out even faster than they get in.
This is pretty much insane. I’ll buy a new metal detector before I buy anyone else’s silver.
slo town
$200 Site Donor 2026
Good for you. After the Great Recession, and on a whim, I bought silver at approximately $14/oz. I have no need or reason to sell so it's just paper gains, just like home equity or gains on unsold stock. Until you sell these things it's a wealth mirage. We peons are at the mercy of forces far greater than we realize or can control.
Scott
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I stopped buying years ago. but i bought substantial amounts when it was 18 USD/oz spot.
it'sover 100 USD now.
I am beginning to feel pretty good about my retirement...as i doubt the floor will ever completly fall out from under it.
it'sover 100 USD now.
I am beginning to feel pretty good about my retirement...as i doubt the floor will ever completly fall out from under it.
The precious metals appreciation is not insane, it is reality, and it has been coming for a long time.
The market prices have been held at an artificially low level for a long time by large institutional investors (banks and brokers) who were taking out "short" investment futures contracts on margin, literally hundreds of billions of dollars worth of them. A short means that they were "betting" that the metals would go DOWN in price. It was in their vested interest that the actual precious metals prices be held down, and that is exactly what they did by manipulating the prices, holding them artificially low. What has actually happened is that the metals contracts were supposed to represent actual physical metals, but they were just paper, and the actual physical silver and gold reserves ran out (aided and precipitated by the massive accumulation and hoarding of precious metals by China) and the paper has become the worthless paper that it always has been, in other words, a giant Ponzi scheme.
I mean to say I’m surprised and animated to see it. I do understand the market forces here. We’re in agreement.
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