Selling PM, where to start.

Buying at a 7 or 8 year high is probably a great way to loose money. I remember 2014 when silver prices were coming down hard and fast. People who paid $40 an ounce for delivered silver just 3 years earlier were taking $20 an ounce if they could get it.

 

Unless your plan is not to sell for a profit in the short term. It could be that buying silver now and passing it on to your heirs is the smartest thing to do.

Sticking fiat in the bank is Guaranteed to lose purchasing power.
Converting fiat to silver, potentially has a chance to keep up with inflation.

it all depends on what your goal is. FRNs in the pocket now or surviving a potential monetary reset in the future.

 

People that bought at 40 and sold at 20 are simply idiots. Overpaid ? Sit on it. Not like it's going anywhere.

I gave 32 and change each, in monster boxes of Kruggerands. The run 34-38 on Fleabay, so I could bust up a box and piecemeal them out for a small profit. Not interested.

My silver is money of last resort. Should I need to really buy something and I'm completely out of paper bucks (or they are worthless), then I'll spend it.

I fully expect 100+ on silver and to never see the teens again. As I said to you before, we'll visit this in a year and see how things are.

 

Yeah if I am looking for quick buck then I will trade gold and silver ETFs.
For me Physical PMs are buy and hold only for just in case or my son’s future.

 

People, it's hard to change the mind of someone that places a $ value on everything! A lot of these folks are gonna end up with bank accounts full of fiat money...and not even real money, just a bunch of ones and zeros in a computer. I'm reminded of the book Alas Babylon!, in which there is a nuclear war and the citizens of a small Florida town buy everything in the gas station (fuel, fluids, tires, tubes, etc.), and at the end of the day the owner tells the local banker that the cash is just so much worthless paper. The banker went home and killed himself, because he realized that he was now as useless as the money! So to all you preppers out there, Stack it high and stack it deep!, whatever IT might be!

 

We will get 100 an ounce silver some day, not anytime soon. Probably in most of our lifetimes.

 

When woke politicians turn your state into a 3rd world nation.

This goes back to something I said in the OP.

 

Those of you who bought silver at $35 to $40 an ounce, thank you.

 

I paid 32 for a small portion of my holdings. Can I get a thank you as well ?

And have you bought all you sold back yet ?

 

It will probably at least 20 years before the normal silver price is above $32 an ounce.
I'll probably buy some silver some time between this week and next spring.
I know that sales are down and inventory is usually highest this time of year.
Don't ever be in a hurry to buy PM. That's how you get screwed.

 

I'll take the opposite side of that bet.

Dollar cost averaging is the way to go. I've even got some 45 dollar silver from 2011. I also have some 8 dollar silver from the mid 2000s. If you make a fixed dollar amount purchase on a schedule it evens out the cost. I've bought it on the way up, on the way down, going sideways.

Long term PM stackers are a way different breed than the speculators. I'm not in this for the quick buck. It's for a time when my income doesn't cover my expenses or it's getting passed on to my kids/grandkids as financial insurance.

EDIT: Granted, when silver gets over 30 bucks per ounce to acquire i have a hard time pulling the trigger and sometimes just add another case of beans to the pantry instead.

 

Im not going to buy at an all time or 30 year high or 7 year high. Right now we are pretty close to a 1 year low so it's not a bad time to buy at all.
If all you ever did was buy at 1 and 2 year lows you would have a lot more silver.
Yeah I was buying palladium 10 years ago when silver was at its 30 year high.

 

Notice you said "the normal price". So if silver goes to 50 or 100 in the next five years and stays there, you're covered by claiming that is abnormal, right ?

2001, 20 years ago, spot silver 4 bucks, maybe 50 cent premium for small buys. (13% premium )

2021, 20 years later, spot silver 22 bucks, premiums of 3 bucks for small buys (14% premium)

Growth of 5.5 x over 20 years.

But in another 20 years, "normal price" will only grow 1/4 x, even after considering smaller mine supply, vast more uses of silver and more people investing in it ....not to mention the destruction of the dollar......?

Really ?

If you really believe that, you would have sold every ounce you have, and never buy it again.

My 20 year prediction is a bare minimum of 5x growth again.....putting silver well over a 100.....bare minimum.

 

Solar panels and Electric vehicles in the new carbon free economy. That'll add about 200MM ounce consumption that isn't currently accounted for in mine demand. Also bringing a new silver mine on line takes decades, oh and new ESG concerns means new mine costs.
Yeah, price is going up. how high? I dunno.
But it will go down as well. When? I dunno.

 

Heard the same thing 15 years ago.
That it will go to 50 or 100 an ounce and stay there. It will some day. Unless people start dumping rocks and going into crypto.
When does the price go up? That's easy, there's a bull market at least once every 6-10 years, then about 3 years after it starts the bull market runs off a cliff.
All you have to do is not buy silver during the bull market.

 

Last time I checked there was only 1 mine that mined silver as the primary product that has been in continuous production for the last 20 years and there's 2 others but I think they open and close as the market goes up and down.
But when they do all open they flood the market with millions of ounces of silver.
When silver does stay at $50 an ounce expect dozens of silver mines to open up again.
Silver is normally produced as a byproduct of zinc, copper and lead mining, so when the economy is doing good and there is high base metals demand all this silver pours into the market if the market wants it or not.

 

My friends dad died, he had a bunch of silver and some gold, they off loaded the hord to a dealer in Amarillo. Yeah it sounds like they got hosed.
They got paid at or below spot price for stuff from the 1970s and 1980s, old iconic branded stuff is my best seller, going for nearly double spot, especially if it's 1oz or fractals.
Guess the dealer told them "no one wants this old stuff" and they believed the dealer.

 

There is a verse from the Holy Bible, "He was a stranger, and I took him in.".
I was in the retail liquor business for 35 years and I have seen a lot of silver come across the counter (and into my pocket). There were lots of single silver dimes and nickels, but a few acquisitions stand out
#1 Kid walks up to the counter and asks if I will swap a dollar coin for a dollar bill. I said yes, expecting a Susan B, but he drops a Peace Silver Dollar on the counter, and I took it. We were both happy!
#2 Guy came in late one night and wanted to cash in some rolls of quarters. We always needed change, so I took them. Turns out they were Washington Silver Quarters...5 rolls of silver quarters! We were both happy!
#3 Went to the bank, made a deposit and bought some change (we usually bought it by the box) and returned to the store. The wrappers on the rolls of dimes were old and fade but I took them, it wasn't until later that I discovered that the dimes were silver. Had to go to the other 5 stores and retrieve the silver dimes from the change boxes. I was very happy!
#4 Woman came into the store with a Crown Royal bag full of her ex-husband's coins (she was drunk) and was determined to spend all of them. I tried to get her to let me cash them in, but she was determined to spend them on a good time. She spent about $20-30 worth, and we were both happy!
#5 Was at the bank making a deposit one cold gray winter day and ahead of me was a couple that wanted to cash in some coins. I later learned that they were trying to raise funds to keep their utilities from being disconnected. The teller called the bank manager over and he took them and their coins to his office, where he made a few calls to determine the current value of junk silver and paid them cash...enough cash to pay their utility bill in full. You should have heard the cries of shock and joy! Everyone in that bank was happy!
Moral of the story is that most people are sheep, and they are going to get fleeced. It might as well be me that does the fleecing as someone else, besides I didn't really take advantage of anyone. I gave them exactly what the asked for and they left the store happy! As for #5...I wouldn't have wanted it any other way!