Should I cash in my silver?

[Seraldo Babalu]

I picked up some Silver Eagles in mid-2015 when the spot price was around $14/oz, spot price is now almost $21/oz. Should I wait and see if it climbs past $29/oz as it did a few years back or do you think this is just a temporary spike and I should cash in now?

 

[michal001]

When trump becomes president anything America will be great again.

 

[Seraldo Babalu]

Anyone intelligent have any thoughts?

 

[MMA IAN]

I would keep it, with the way the world is going gold will continue going up, already has been but it will continue, when gold starts getting too expensive for people, they invest in silver as a precious metal instead.

It can go up a lot more than gold as well, percentage wise. Post GFC it was at $50/oz as everyone freaked out but couldn't afford gold.

I believe that will happen again

 

[JSN]

I don't know what silver eagles are, but I've heard that any time the economic boat gets rocked prices for precious metals tend to soar. If you just want an investment that won't depreciate, you might want to trade for gold though. I can imagine that there's less of a chance of the gold market getting flooded than silver. I cannot overemphasize how much I'm talking out of my ass right now though.

 

[louky]

I picked up some Silver Eagles in mid-2015 when the spot price was around $14/oz, spot price is now almost $21/oz. Should I wait and see if it climbs past $29/oz as it did a few years back or do you think this is just a temporary spike and I should cash in now?

Absolutely not. It's headed to 25 very soon. Sell then if you want to play it safe.

 

[louky]

You want to be out of your silver before Jan 2017, but not now. Silver will end 2016 with a high somewhere around 28/ounce. Take your profit then or whenever it reaches around $27-$29. Then it will drop. Jan 17 will be the typical "summer doldrums" that we would normally be experiencing now. You want to get back in from roughly summer 17 thru Dec 17 and be all in before April 18.

 

[Arthur Morgan]

Keep it. I was advised by a very intelligent individual to keep my silver as it will still rise.

 

[louky]

you might want to trade for gold though.

You don't even consider swapping silver for gold until the GSR is 50 or below. Currently we are around 66

 

[jmag]

Should have sold in 2010-11. I'm holding for apocalypse or maybe $100.

 

[louky]

I'm holding for $100.

2023-24 will be the next major top. That's because the $ will begin tanking around 2020

 

[HOLA]

Deja vu.

People never learn.

Sherdoggers must have gone bankrupt last time they tried to plY with gold and silver here in 2011.

 

[HOLA]

2023-24 will be the next major top. That's because the $ will begin tanking around 2020

Oh, long-term forecasts on precious metals from Louky on Sherdog. I'd trust him.

 

[HOLA]

Anyone intelligent have any thoughts?

Forget it.

Invest in an index fund and reinvest the dividends. Dollar-cost average into it at set intervals. Most people have no business investing in individual stocks, let alone commodities and precious metals or Forex.

 

[louky]

Forget it.
.

So your advice on the thread topic is that he should never cash in the silver he already owns?

 

[BobSappIsMyDad]

There was this guy on pawnstars who had a big fat chunk of silver and cashed in a 100g's. I've never seen anyone take that much money on that show.

 

[BisexualMMA]

 

[HOLA]

So your advice is that he should never cash in the silver he already owns?

I don't have any advice on timing the sales of what you already have, but I wouldn't recommend you get involved in continual purchases and speculating with it.

If anyone wants to see why not, search for gold and silver threads from 2011 on here.

 

[MMA IAN]

2023-24 will be the next major top. That's because the $ will begin tanking around 2020

Agree. A billionaire in Hong Kong told my dad in 2013 the next GFC would be in the early 2020s, I figure he might know what he's talking about.

 

[HOLA]

Agree. A billionaire in Hong Kong told my dad in 2013 the next GFC would be in the early 2020s, I figure he might know what he's talking about.

Lol a billionaire in Hong Kong told your dad, huh?

You can't predict the markets 7-8 years into the future...or even what they'll do on Monday. What about terrorist attacks, natural disasters, scandals...this imaginary guy a time traveler? How did he account for even just these variables?

There is a reason the most successful investors like Warren Buffett, eschew timing the market.