Should you sell or should you hold now?

[golden silver]

17.32 was the spot price for silver this morning when I awoke. So my question is do we look at selling soon or do we hold on to what we got because there is bound to be another economic down turn soon. Do you keep your silver as it will be the only thing to buy bread with one day or do you sell it for dollars that are falling in value?

Golden Silver

 

[dasherhunting]

I dont have a ton but I am always tempted to sell , sold some in past and to be honest wish i hadnt guess I figure once I sell it its gone. Just my thoughts I guess wifes right I am a hoarder.

 

[65gt350]

It depends on your situation. If you selling just to put the money in the bank, then the answer should be hold. If you are selling to pay off debt then selling might not be a bad idea.

HH,
65GT350

 

[golden silver]

Good point.

Golden Silver

 

[nyiangelo]

It's burning a hole in my safe right now. I'm having a hard time not taking profit on some of it. But again remember NOTHING is wrong with taking profit. If I thought these were just high prices I would sell. But I'm not sure where that Dollar is going, so that has me a little worried.

 

[mountainman 2]

I've sold a lot of 40%ers lately to help pay off debt but haven't recently touched my 90%ers. I'm holding out on the hope that silver prices will continue to go up.

 

[65gt350]

I would use this opportunity to convert 40% to better PM either 90%, .999 or better yet gold. I would be looking to convert to gold once the ratio hits 50:1

HH,
65GT350

 

[packerbacker]

I totally agree with GT. Hold onto the 90's and sell the 40's. Take the money you make on the 40's and buy .999. Silver (and gold) are going to continue going up. You heard it here folks.

 

[Rich Hartford]

I sold 1300 40's three weeks ago at 2 bucks apiece. All were from CRH, so I made a good profit which I invested in gold. Next time I sell I'll get rid of 90 % CRH finds. Unless I happen to accumulate a bunch of 40's again.

 

[jim4silver]

I would not sell unless you need the cash. I do believe that there will be another correction though before the next really huge upswing. I bet that when gold hits 1030 or perhaps sooner it will correct. How low I don't know. The March 2008 high was 1030, so that seems like a likely resistance point.

I think silver basically tracks gold's performance whether up or down, although silver is more volatile either way it seems.

If a new war breaks out in the middle east (Iran, etc.), then there might not be a correction and gold and silver will probably shoot way up right away. Any world catastrophe could add fuel to the gold/silver fire already burning.

It is probably not worth selling a bunch of physical metal in hopes of buying on a dip since you will have to pay a premium when you get back in later. If you play the ratios, it may be worth converting some silver into gold, especially if you bought silver when the ratio was high 70s to 1.

Jim

 

[mistergee]

i'm holding onto mine. don't need the money right now. the only way i would sell was if i had enough to trade up for silver bars or gold. i'm mostly doing this for the kids and granddaughter. besides, my dad sold all his Morgans and Peace dollars back in the 80's when silver was like $50 an oz. he tells me now that even though he needed the money he wishes he never did it. he misses his Morgans. (my favorite)

 

[obediah]

Yes, hang onto the %90 but don't be in too big hurry to sell %40 either- you know sell a little this week a little more next week, that is what I'm doing on Ebay 5 Rolls last week 5 more this week; figure if it gets over $20+ or so for spot might sell some large lots to Tulving or such.

It looks to me the $ is in might bid trouble with no possibility of redeeming its future- the presses are running full speed ahead; suspect a Global currency is on the way & why they are doing this to US (bankrupting US), they have too destroy completely the old system in order to replace it with the new socialist World Order system both Bush & Obama are in favor of. So do not sell all your Silver & Gold nuggets if you have them, not all at once anyway cause things are NOT gonna get better, I do not care what the pundits or "experts" tell US!