So for me, I'm holding like an ape right now, in part because getting to my safe right now is such a bitch I can't be arsed. But I wanted to know at what point people here intend to sell.
For me, I'm glad silver broke 50 and seems to be skyrocketing upwards. I want to be sure that I don't do what I did with btc back before the first flash crash and sell it when it's appropriate to do so. Right now the London prices of buying it are through the roof, but they are weak on selling.
However, when I started stacking, it was as a hedge against a major currency collapse, so that I'd have something to trade with long term. Right now, it's feeling like the UK economy is about to tank, but I'm not sure about the timing, and the impact.
What do y'all think wrt this? Hold until there is a currency solvency issue or is that so unlikely it's better to sell sooner, and if so when?
There is an old saying where i come from. Only way gold and silver should leave your hand is either when you pass it on to your kids or when you go bankrupt
LOL, I tried my best to last.... got DWAC, TMTG warrants....silver......
Losing my business and family due to COVID was a trying time. Unable to recover from it... sucks. Having to sell all TMTG, GME, Silver just to make it last month.... I won't be able to share in the monetary jubilee but is what it is.
My sacrifice has been for a new business that is about to start helping many more than I could have before so the good lord has been perfect with his timing. Would have appreciated a little more overlap in funds but... LET'S GO!!!
The thing is the Lord gives us what we need when we need it
☝️☝️☝️☝️☝️
Word.
I started stacking silver way back in the 1980s when it was relatively cheap and an overlooked storage of wealth. My intent then was to see if it went higher and then possibly sell it at a higher price. But then I started seeing how our US currency had been taken off the gold or silver standard and was a free floating fiat currency, backed by nothing more than politicians' promises of solvency.
It was then that I changed my mind and since then have gathered silver in any way that I could and in any form that I could, such that today I hold silver flatware (not plate, but sterling silver) from estate sales, pre-1964 US coins (90% silver), bars and rounds (99.99% silver). And I hold this for one single purpose, to have an asset that I can barter for food and gasoline if our currency collapses.
Us too. We are hoping to create generational wealth.
"if"... lols
In 5000+ years, never has a currency survived. It will collapse. Only a matter of "when".
I’m not positive but I have heard from several sources that silver is still way undervalued. Most are saying they expect it to hit at 125 an oz. But who knows for sure?
There are 2 markets a physical silver market and a paper market. The paper market is basically used to keep the price down. Something like 700 paper oz to physical.
Same but not as bad with gold.
I don't remember the exact amounts but it is something like 100X to 1 paper to real. A run on the market could happen if banks wanted physical.
Not just banks. Silver is also used in tech and industrial manufacturing. One of the tech companies places a bulk order for physical. To continue meeting industrial needs. Things will get interesting price and market wise
I’m pretty sure I read on SDBullion yesterday that the COMEX put out just under a billion paper shares, in a day. That is an entire year of normal trading volume. Demand is up 5-6 times and nobody can afford to lease silver. Basically shutting everything down for physical.
I've heard it should go to 72x what it was back in 2012, which is a lot higher than that. Think more value than gold at some point based on some speculators out there
Silver was around $30 an ounce in 2012. 72x would be $2160 per ounce. Now we're talking.
I'm holding for $1000
Never sell metal if the economy is about to tank! Why would your local fiat currency increase in value if your government's economy is immediately failing? (I'm sure Krugman can rationalize.)
Sell metal when you have need to convert it as directly as possible into some other asset or beneficial purpose (e.g. real estate). Better is to hold it until you can quietly pass it on to your heirs before your death.
If you buy silver as an "investment", that's always the reason to continue holding. As soon as you convert to fiat you not only spill between buckets but you also switch to manipulable values instead of the most stable values and enter a realm of crazy risk. Selling silver is the high-risk choice, not buying it. :)
I own physical but trade etfs and futures. I can make far more with a leveraged ETF or futures contract than buying the real thing. When it goes down, I hit sell, when it goes up, I buy. AGQ pays 2x the daily return on silver. I'll take profits from trading and invest a percentage in physical. Silver and gold I have I hodl and would only trade it for another appreciable hard asset...land.
Don't overlook mining stocks. Silver is just a small piece of the pie. They're incredibly cheap. I've had two options give me 1000% and 2000% returns and 100% the others I bought. I'd have a 5% return on silver in the same time. I look at investing differently. I "trade" (make money) in the stock market and "invest" in things that are real. The stock market is a casino and I treat it like one. An investment is metal, land, business, etc.
I'm waiting for the new treasury dollars backed by silver and gold. They will be real money if all goes as planned. If you sell now you are trading a hard asset for fake fiat paper money that is debt based and conjured out of thin air. Like TNBanjoMan I hold silver in many forms jewelry, coins, flatware etc. Hard assets like land, silver, gold (in all forms) are true wealth. In times of trouble food and the ability to provide food will create the difference between the haves and the have nots.
When it's 1000/oz, in other words HODL
If all the paper contracts are stripped out over the next few years (and they are being stripped out), then gold should be at $40,000 per troy oz The average Gold/Silver ratio is 30:1 Thinking like this, if "The Great Debasement" happens and we do get to 40K gold, then silver should be around $1,300 Sounds crazy? I remember when the idea of Bitcoin going to $10K was crazy.
Not touching ours. It has no ceiling above $50. Silver is way under valued and once DJT gets the DS fingers off of it there is only one way it can go and that is up. It’s easy think of what you could buy - but do you need it? Is it a want or a need. Leave your retirement alone. We are just starting to use our retirement savings since we are fully into retirement BUT we only take what we need for now. Not getting any younger.
Bought a load of Gold, Silver & Platinum in 2021 when I was concerned about CBDC and vaccine tyranny. While I am not concerned that Queer Starmer's recent Digital ID announcement will really come to fruition, he did say the quiet part out loud about it providing access to one's money, so I can see it provoking more demand for metals.
Unless you NEED the "money" you should not be selling. You've proved that it has been a safe haven. Note that the price going up is mostly a reflection of the value of money going down - so great that portion in silver held it's value while all your other cash holdings have lost power.
You only need to part with it at the door of the spaceship/ship/train/bus that is going to relocate you out of the warzone you find yourself surrounded by, if it comes to that. Otherwise, keep it safe for that possibility.
Don't sell until if/when you need to. Hold as long as you can. Fiat money is backed by nothing. $125-150 is a realistic target for it, but what would you want to do with the money? Unless you're putting a down payment on a house for your kids it's not time to sell. It's a dangerous game to try and time the top..
To be equal to Judas' silver, it should be $233 an ounce.
Regardless of price, there is no better deal on the planet than what physical silver offers.
I feel like Rumpelstiltskin, spinning my invisible 1s and 0s on a fake plastic card, into REAL silver delivered to my front door. 👍
It's just buying REAL money with fake money. Silver IS my savings account. Earns me about 20% / year vs .04% / year in some bank account.
Is there anything else like it?
Hold, silver is going much higher. Predictions of $120 by spring.
Remember, Trump's EO opening 401k's to precious metals in February will strain the supply and demand.
The SEC is under new leadership. Enforcing laws that protect our economic system. Institutions shorting silver are being fined when they negatively influence markets.
Silver is at a 80 to 1 ratio with golds price. It should be closer to a 10 to 1 ratio. I have a feeling silver with start to reduce this ratio if or elected officials are protecting it. Silver was recently named a critical precious metal.
If we are moving to a currency backed by precious metals, it would make sense to allow silver to rise to its fullest potential.
I have stacked bullion, some of which I sold to family, used that money to buy pre-65 coinage and have over $220 FV- I plan on seeing if it will be valid for purchases when the new currency comes into being or just trade it for collectibles.
Dont sell. I had to sell mine to feed my family and survive during the covid hoax. I really wish I didnt. So hold it until its your last option.
Don't sell, only use it to purchase other assets.
Unless it’s a life changing amount of money, I’m not selling any of mine. For instance, if I have 400oz and I can sell 5-10 oz to buy a car (not necessarily a new one) or another larger purchase, then I might sell some. Otherwise, no way.
A: Stop thinking of things in terms of fiat currency, and start thinking of things in terms of wealth storage, creation, and management, and civil action in terms of demanding acknowledgment and respect of your/my sovereignty.
I don’t. If you sell, you get the fiat money or you could buy the crypto coin of the moment - better than fiat money. For me the whole point is to have an asset when the paper money collapses to barter for necessities. I only stacked some. Not a continuous stacker. What I thought might be needed in an emergency. Old silver dimes.
Future price is under the current spot price. Ass backwards. Hold on. Let the paper contracts shake out. The demand for physical (not paper agreements) will change everything.
At least not til 120
Silver is not stock - it’s a hedge against bad things happening in the economy. - Once we see bad guys arrested and the system destroyed aka months from now the DS can still drop the market, attack our food supplies and everything/anything made outside the USA. I’m waiting. Will pick up more if the price drops again.
What is this “sell” you refer to? Not familiar with this term.
I’m going to start converting my silver to gold when the ratio hits 1:15
I'm not selling,I'm buying PSLV, mining companies and retarded calls on mining companies.....
Hell I haven't even inventory my shiny yet.
https://thesilverindustry.substack.com/p/china-says-no-silver-bullion-exports
Also, silver spiked to over $53 today; currently at $51.73.
http://www.321gold.com/
Some dealers are not buying at this time. I guess I could find one who will buy at 5dollars under spot. Its tempting, but its also not neccesary, I still have an income and am very frugal. Bought as a savings account, I think I will keep it as such. It's my emotional support metal, so I need to keep it close.
When virtually all stop and only sellout current inventory , Silver will then go "UNOBTAINIUM" and the price will be climbing the straight up wall. Then buy your self a Teddy Bear as you dollar cost average out , maybe into gold.
To reiterate & add to what BB said:
The ONLY situations which you'd let your silver leave your hands:
You're dead and it goes to your family.
You're absolutely, totally bankrupt.
You sell either silver or gold to "trade up" to the metal with the current greatest value by working the gold/silver ratio Making Inflation Pay
If you're someone who just CAN'T leave well enough alone and you "always got to F with it", then working the ratio might be right for you.
However, you need to consider premiums on coins and other factors that will influence if it's the right thing to do or not.
My personal perspective is, I don't even have any PM. It's not even on my screen of assets to do anything with. It's a nest egg that NEVER gets touched. I just let the whole thing ride.
Mainly because I feel I've got at least SOME of my time/energy securely stored as a hedge against the invisible thief - inflation. Silver at $51 right now... and gold at $4100, tells me, I didn't triple my money when I bought @$17 - the dollar LOST even more purchasing power in the last 10+ years. A LOT!
So the question I'd ask is, If I'm not holding PM to lock in and preserve my wealth against inflation, what alternative, besides real estate (and that's not liquid) am I going to trade up for? Dollars? Pfft.... we're trying to get rid if excess dollars because they're losing value every day.
I sure as hell aren't going to trade for tulipcoin or crypto backed by nothing...We can ALWAYS trade PM for crypto aether... tangibles that are small in size and high in value is where it's at. No jewels...no paper. Physical pm ONLY.
If you don't have it in your hand, you don't have it. Period.
u/#catdance
I'm gonna be the contrarian here and say most people don't know what they're talking about. Yes if you sell, you'll get fiat dollars. So what? If the economy is crashing and things like real estate prices are crashing with it, and silver is at some absurd price like thousands of dollars or tens of thousands of dollars an oz, you can sell your pile, get millions of "fiat dollars" and quickly convert that in real estate that will provide generation wealth for your family while prices on it have bottomed out as well.
Pretty much everyone agrees it'll AT LEAST be a few thousand an oz when all the suppression ends and supply/demand skyrockets. With most of the more autistic breakdowns I've seen predicting a temprorary FOMO price in the tens of thousands an oz range.
If you're that dead set on not selling at THAT level, with THOSE circumstances because "muh fiat dollars" when you could create generational wealth then I have little to no sympathy.
But back to OP, it really depends. The smartest strategy I've seen discussed is to sell in waves. Maybe a little at say, $500 an oz, $1000 an oz, so on an so forth. If things go like a lot of people believe they will, once the collapse happens we'll see a VERY rapid rise with swings in the hundreds or thousands per day (like what happened with bitcoin in 2017 and 2018 for example). So setting a "hard cap" for yourself wouldn't be a bad idea. Yeah, it might suck if you sold it all at $20K an oz, and then it went up to $50K, but you'll never LOSE taking a profit, especially one that big.
I can't say when, but NOT NOW!😁