Silver price - when to sell?

[FormerTeller]

Silver going absolutely crazy this week! I can't believe it was only 4 months ago that I posted about the 103.5:1 ratio of silver to gold: http://www.treasurenet.com/forums/coin-roll-hunting/629166-103-5-1-a.html#post6452706. Silver has gone up literally 50% since then!

I went back through my records to see how much silver I've found CRH'ing and how much I've purchased over the years, and was absolutely astounded to see that the vast majority I bought at around $14/ounce - 10x face value. I remember well when silver was at $35 and $40 an ounce, and higher, but now I'm tempted to take some profits. Probably won't, as I really want to get $5 per 40% half dollar, though I'll probably cave before then.

Does anybody have plans to sell silver or gold anytime soon?

 

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[Diver_Down]

Silver going absolutely crazy this week! I can't believe it was only 4 months ago that I posted about the 103.5:1 ratio of silver to gold: http://www.treasurenet.com/forums/coin-roll-hunting/629166-103-5-1-a.html#post6452706. Silver has gone up literally 50% since then!

I went back through my records to see how much silver I've found CRH'ing and how much I've purchased over the years, and was absolutely astounded to see that the vast majority I bought at around $14/ounce - 10x face value. I remember well when silver was at $35 and $40 an ounce, and higher, but now I'm tempted to take some profits. Probably won't, as I really want to get $5 per 40% half dollar, though I'll probably cave before then.

Does anybody have plans to sell silver or gold anytime soon?

Not selling gold anytime soon, but I've been selling junk silver mixed with other coins in collections. Most sell around melt. One sold for a $100 over melt and one sold for $10 below melt. It is all gravy as the halves only cost me $10fv and the dimes (remember the glass cigar tube picture from years ago?) only cost $5fv. Selling now, isn't ideal. We always want to hold out for top dollar, but you can't time a peak hoping for a new market high as over the long run, the market will disappoint you and not meet your hopeful expectation.

 

[Roll Hunting Family]

When to sell? NEVER!

But seriously, I've always said "They don't ring a bell at the top of the market." You'll never know what the price will be tomorrow. If you'd be happy with the returns on today's pricing, then sell today.

 

[Twitch]

Not selling the CRH finds. Right now local but prices are $16/$1 face 90% and $5.50 / $1 face 40%. What crazy for me is the price for Morgan’s and Peace dollars hasn’t moved. Used to be ~$4-5 over spot. Now still $15 for peace and $19 for Morgan’s. Bought a couple dozen last weekend. Would love to flip them for the spot increase this week; it sure why the dollars haven’t moved?

 

[Idahodutch]

The change in ratio is a good way to know when to buy/sell.
Silver to Gold at 80:1 is still buying opportunity for silver. When it gets to about 30:1 or less, good to sell silver (and use some of that to buy gold).
For thousands of years, the ratio was well below 30:1 and will most likely be headed back, if for nothing else, historical balance. This is only my opinion, but I think silver is way, way under valued right now. Especially with all the stimulus lately.

 

[Garscale]

Metals should run through Oct as uncertainty about the election factors into the stock market. If you firmly believe Biden will win...hold ad it will continue as markets look for a safer haven. If trump wins stocks will run and many will dump metals

 

[TheMastermind]

The DCA for my silver stack is somewhere around $6/ozt.

Personally, I'll think about selling at $30/ozt. Seriously consider at $35/ozt. And definitely will at $40/ozt.

 

[Idahodutch]

The DCA for my silver stack is somewhere around $6/ozt.

Personally, I'll think about selling at $30/ozt. Seriously consider at $35/ozt. And definitely will at $40/ozt.

Once it busts loose from manipulation it could very easily scream past $40 on its way past $100
Mastermind,
You may want to consider saving some for that so you don’t COMPLETELY kick yourself later

 

[Idahodutch]

Mastermind,
Excellent DCA.

 

[fistfulladirt]

I have some $150/oz. silver I’ll sell.

 

[Phil]

If Biden wins, hold because prices are going to continue to climb.
If Trump wins, sell because prices are going to drop.

 

[Idahodutch]

If Biden wins, hold because prices are going to continue to climb.
If Trump wins, sell because prices are going to drop.

Phil,
If Trump wins, there is talk of going back to a gold standard.
Things here in USA, might be priced in terms of gold soon.
Would be different, that’s for sure.

 

[fistfulladirt]

Hamster hammered today!

 

[GlenDronach]

Phil,
If Trump wins, there is talk of going back to a gold standard.
Things here in USA, might be priced in terms of gold soon.
Would be different, that’s for sure.

I seriously doubt we'll ever get back to a gold standard in our current economy.

It doesn't matter who is president- we've had a lot of sustained market growth, often despite warning signs. The market is cyclical- we're headed down. COVID-19 on the global economy will probably make this one hurt more than it would have.

 

[FloodcityTom]

Hang on to your silver....and gold. I see instability ahead no matter who wins the election. I might consider selling some of my scrap silver or gold jewelry and buy either silver dollars or silver halves, perhaps gold eagles. Remember, Silver US Currency is still worth its stamped value, a silver bar is just a silver bar which merchants aren't set up to accept or trade for.

 

[Phil]

There is a push to allow gold to be used as currency in several states, but going back to the gold standard is impossible.

$27 trillion in debt, with less than 150 million ounces in federal reserve, is only $300 Billion (at $2k ounce).

Unless somebody finds the Josephine and pays off the national debt, it will never happen.

 

[Idahodutch]

There is a push to allow gold to be used as currency in several states, but going back to the gold standard is impossible.

$27 trillion in debt, with less than 150 million ounces in federal reserve, is only $300 Billion (at $2k ounce).

Unless somebody finds the Josephine and pays off the national debt, it will never happen.

Phil, we are in unchartered waters already. There is no telling.
Be careful, because this uncharted course may change directions suddenly, when not expected, or even thought possible.
Stay safe,
Idahodutch

 

[fistfulladirt]

There is a push to allow gold to be used as currency in several states, but going back to the gold standard is impossible.

$27 trillion in debt, with less than 150 million ounces in federal reserve, is only $300 Billion (at $2k ounce).

Unless somebody finds the Josephine and pays off the national debt, it will never happen.

Then repurpose the price to $XXX.

Edit:repurpose to $XXXXXX

 

[NSR60]

I knew someone who invested in silver right at the peak, in 1980. At no point since then would he have been ahead, though it has now surged beyond its post-Brexit highs.

Thanks to Coinstar, I'm sitting on about $150 worth of silver, obtained at zero cost. But even if silver went to $500 an ounce, I'd still have trouble letting go of these coins, just because they're really neat.

 

[Johnnybravo300]

I wouldnt sell for fiat but I would trade silver for gold at the right ratios. Other than that no way.