Selling PM, where to start.

Discussion in 'Financial Cents' started by oil pan 4, Aug 17, 2020.


  1. VisuTrac

    VisuTrac Ваша мать носит военные ботинки Site Supporter+++

    You can't buy it online at the moment.
    APMEX, BullionExchange, ModernCoinMart, etc.
    Wonder if the paper shorts are being squeezed out ala gamestop.
     
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  2. TnAndy

    TnAndy Senior Member Founding Member

    Lot of chatter on GAB, etc. about the WallStreetBets bunch ganging up on SLV this coming week to do what they did to Gamestop. If nothing else, it's getting silver a lot of attention, which I suspect is the reason many online dealers are holding back inventory.....they might see a huge spike in price coming and not want (or have much) to sell into a fast rising market price.
     
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  3. ditch witch

    ditch witch I do stupid crap, so you don't have to

    Yeah silver is the next target. They've already been warned they will crash the entire banking system if they do it bur that's their goal. Burn it all down.

    wsWSPdt9.
     
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  4. TnAndy

    TnAndy Senior Member Founding Member

    Sounds good to me. Only way to rid us of bank produced fiat currency is to burn it down and start over with honest money. My tagline has said it for many years.
     
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  5. TnAndy

    TnAndy Senior Member Founding Member

    The thing is that no matter what happens with #SilverSqueeze, a lot of younger people are for the first time informing themselves that metals are the only true real money. That realization sticks for life, even when squeezes end. This is a red pill moment for many & its beautiful

    — Quoth the Raven (@QTRResearch) January 31, 2021
     
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  6. oil pan 4

    oil pan 4 Monkey+++

    Apmex says they are not selling any more til markets open.
    Well international silver markets open in an hour and a half, so let's see what happens.
    Yeah I think I need to list some silver.
     
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  7. TnAndy

    TnAndy Senior Member Founding Member

    Definitely. Sell it all. Pile up those papers with dead presidents on them.
     
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  8. oil pan 4

    oil pan 4 Monkey+++

    You assume too much, that I'm just sitting on the cash? Ha.

    Yeah its over $28 an ounce and the big sellers still aren't selling. I could ask $10 per ounce over spot and get it.
    I might list a few 5oz and 10oz buy it nows for around $200 and $400 and see what happens, take advantage of the panic.
    This price spike won't last long.
     
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  9. TnAndy

    TnAndy Senior Member Founding Member

    I assume that because you've stated your plan is to buy back in cheaper when the spike is over.
     
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  10. oil pan 4

    oil pan 4 Monkey+++

    One of many possibilities. Right now it looks like the cash will be used to buy another house.
    If that doesn't pan out then it can go back into PM.
    Yeah it looks like a perfect storm, silver over $30 an ounce, all the big retailers sold dry.
    Anyone who has silver and not selling a little, well I guess you can lead a horse to water but you can't make them drink.
     
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  11. TnAndy

    TnAndy Senior Member Founding Member

    Yep....not drinking. Don't need a house, sold most of my rentals years ago, too big a PITA, the last one is currently going on a 'rent to own' deal.....and don't have anything I really want to buy I don't already have enough dead presidents to cover....so I'm not risking selling with the hope I can buy back later, cheaper. Not worth the risk to me....but we've had this discussion before.....

    If you get enough cash off eBay sales to buy a house, or even a decent down payment, don't you get 1099'ed by eBay and have to report your silver sales for taxes ? 28% capital gains on metals would sure make me think about an in & out & in again plan.

    Edit: Looks like eBay thru Paypal issues a 1099k for yearly sales over 20,000 and 200 sales. Looking back thru this thread, it seems like you'd hit that mark
     
    Last edited: Feb 1, 2021
  12. VisuTrac

    VisuTrac Ваша мать носит военные ботинки Site Supporter+++

    [LMAO]
     
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  13. oil pan 4

    oil pan 4 Monkey+++

    They haven't cut me a 1099, probably slid in just under $20,000.

    Yeah I heard the same dribble in 2011 about "prices never coming back down". Prices didn't go back down to late 1990s level but gold fell sharply off it's false all time high and silver fell even more sharply to around 1/4 of it's false all time high.
    I don't need prices to go down 2011 to 2019 lows, just fall to some where in between. That is all.
     
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  14. Gator 45/70

    Gator 45/70 Monkey+++

    So whats a Apex buffalo round going for on fleabay? 1 oz
     
  15. oil pan 4

    oil pan 4 Monkey+++

    All unremarkable silver ounces are going for around $40, give or take a few dollars.
     
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  16. Wildbilly

    Wildbilly Monkey+++

    I sold some 40% silver that I had been holding for too long. Didn't get a lot , but I'm gonna get a few preps with the proceeds cause silver is too high right now!
     
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  17. VisuTrac

    VisuTrac Ваша мать носит военные ботинки Site Supporter+++

    I've got a couple of rolls of those kennedy halves. Too few people understand they exist. I've debated on ditching them many times.
     
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  18. Wildbilly

    Wildbilly Monkey+++

    That is the problem with 40% coinage, foreign coins, bars and rounds. If you have to work too hard to "sell" your silver and gold it isn't worth the bother. However, you should always have a PM test kit and a book(s) that list the silver or gold content of most coins foreign and domestic. Don't just down-load information from the internet...BUY A BOOK!! Coins from countries that few have heard of, or haven't heard anything good about, will be hard to move, as will Mickey Mouse bars and rounds.
     
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  19. oil pan 4

    oil pan 4 Monkey+++

    Looks like silver is trying yet again to breach $28 an ounce and failing yet again.
     
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  20. TnAndy

    TnAndy Senior Member Founding Member

    Works for me. I bought another couple monster boxes of silver Krugerrands last Friday. Add to the one I bought last month. Delivery 35 days out now. It was 10 days last box.

    [​IMG]

    [​IMG]
     
    Last edited: Jun 2, 2021
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