Sold my first silver today. Interesting effect it had on me. There was an eclectic mix of regret and satisfaction. Regret that I'm actually selling my silver, and satisfaction that having owned it for the period I did has allowed me to purchase something that would otherwise have been beyond me, at least at this time. And over it all the sense that I've now had the whole silver experience - buying, holding , selling. That in itself is somewhat special. Not sure if this is something other relate to, or just my own nature coming out; just thought I'd share.
Wait until you have to sell half your stack or more against your will. It'll multiply that 'regret' by a lot, I assure you.
Hmmm. Your symptoms sound very familiar to trading the stock market. Rule 1 never fall in love with ya stack......Buy it @ the cheap time, hold it for the right amount of time, sell it @ the high time. Do that a few times, & my dear sir I can assure you those events are very special
Couldnt care about my silver. Its just another investment. Its just a means for me to buy goods/services I need or want.
Great advice there Silver Soul. Like stocks, people will happily sell their good performers but refuse to accept bad decisions and sell their bad choices at a loss. (Hands up here who hasn't made a bad call on a numismatic coin that didn't live up to it's potential 'cough' clownfish 'cough' :/ ) What happens then is you're left with a stack/portfolio of 'dogs' ...and that will get you depressed!
You may be right CH I have few Clowns (LOL) and others that are just sitting there I should cut my losses get some liquidity and buy some bullion.
That's why i refuse to collect even Lunas now. I don't want to be in a position of not wanting to sell because I have an emotional attachment or don't want to break a set.
That's why i refuse to collect even Lunas now. I don't want to be in a position of not wanting to sell because I have an emotional attachment or don't want to break a set. .......................................................................................................... me too, i'm finding it hard to "let go"but that was the original reason for buying them years ago. mike.
But but but... I was gonna build a house out of silver bricks one day! Sheesh, typical of you guys to go and shatter all my dreams!!!
Doesn't matter if its lunars or any other special coin. There still will the emotional atttachement there. You worked hard for the fiat to fund it. So it's frustrating selling a "coin" or "bar" then seeing the price go verticle the next week or day.
How does it work with capital gains tax? I assume it applies to silver just like shares or investment property?
As far as I'm aware - yes. From a tax perspective it's an asset that is either appreciating or depreciating. Am not an accountant.
If you held the Silver for more than a year you get a 50% capital gains tax exemption. If not, you are liable for full capital gains tax on any gains you have made.
I hear ya - I recently sold about 75% of my silver stack to take care of some things that I had to. I did very well on the profit end but I was sickened by it at the same time. Im back "in" now and hope to be able to hold long-term this time. But, life is life and ya gotta do what ya gotta do.
