No need to sell the silver unless I have something to spend the money on. Last thing I want to do is end up with a lot of money in the bank slowly being eaten away by inflation. I will use the paper silver to do the GSR swaps to get some gold if gold doesn't keep pace. I will sell some of the junk silver because I got it cheap and already sorted through it for collectable coins. It takes up too much space and is only 50%. The money I get for that will need to be re-invested but probably not back into silver, most likely to pay down some debts. The high premium silver I will sit on, hopefully a lot of silver will be melted down so my Dragons will become even rarer and the price will go up. If silver spot crashes then the high premium stuff will keep the premiums, if silver goes to the moon the premiums I paid will have been a waste of money. The generic bars and rounds can go, money can be used to pay down debt, that's what I bought them for. The numis will stay in the collection. No dollar amount in mind, I held out for $50 and I was going to sell the whole lot, that didn't work out but if I had sold half of it at $40 and the other half at $60, I would have gotten the same amount in the end but if it never quite got there I would still have made a nice profit on the $40 silver and would have had plenty of money to buy back in when the price dropped. I think that waiting for a particular dollar amount is not the way to go, just take profits all the way up rather than be extra greedy and hope for the lottery windfall.
There will come a time where I will not be able to afford to buy silver. When that happens, it's time to sell.
Once it reaches $75 or so, I will stop monitoring it and pretend it's at the $60 level until 2014. Save myself from disappointment.
And at what parabolic price will that be ? How will you know when to sell ? You might sell when you think it has gone up too much and then it doubles again. I don't have the answers - it is damned difficult planning when you will sell in advance As anyone that was around during the last spike will tell you Your Perceptions will change daily when prices are moving fast
And at what parabolic price will that be ? Well in the 40s somewhere, I stand by the theory we'll have a very tough time breaking $50 anytime soon. How will you know when to sell ? You don't, but when Silver is going up multiple dollars a week it's a pretty good sign something is gonna give. You might sell when you think it has gone up too much and then it doubles again. Profits are profits. If I sell at $40 and it then doubles in price then I will be a believer in Silver manipulation. My average isn't too bad, I don't buy in the 30s upwards (lunars being the exception to the rule) so even at $40 i'd be very happy. I don't have the answers - it is damned difficult planning when you will sell in advance As anyone that was around during the last spike will tell you Your Perceptions will change daily when prices are moving fast. Greed enters the mind, sure, but I learned a lot from last year when I sold no where near enough when we were in the 40s, when I see a similar trend I will not be sticking around.
Well I learned a lot when I sold a portion of my stack at $22 when silver ran fast from about $15 to $22 and I thought it was overdone and expected it to quickly go back down again. As you say, I did make a decent profit from where I had bought, but obviously in hindsight that was a stupid move. These days I'm buying and selling all the time - more focused on improving the quality of the stack rather than timing the prices.
