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Nickelless
Administrator
USA
5580 Posts |
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copperbullion
Penny Pincher Member
Australia
136 Posts |
Posted - 01/13/2008 : 03:21:13
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| Nothing! :-) Too risky these days! |
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Nickelless
Administrator
USA
5580 Posts |
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copperbullion
Penny Pincher Member
Australia
136 Posts |
Posted - 01/13/2008 : 05:31:58
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| Well it depends on personal circumstances of course, but if you don't need the money, why sell? The only reason to sell is if you can buy back cheaper and make a profit, but it is too risky these days. You never know when any fiat currency is going to devalue. My personal thoughts on PM investing is as follows: But it and forget about it! That been said, I sill buy and sell some PM'S but keep it separate from my personal collection. |
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n/a
deleted
85 Posts |
 Posted - 01/13/2008 : 05:40:33
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quote:
Originally posted by Nickelless
...and at some point we decide to cash in, would it be best to cash in for fiat dollars only if we planned to spend the fiat immediately, i.e., before inflation eroded the fiat further? The irony (or would that be silvery or goldy? ) is that we'd have no other non-fiat store of value if we decide to sell our PM, so besides other PM or non-monetary necessities, what would it be worth cashing in our PM for?
One could cash-out and buy nickels and/or copper pennies with the money. You would still have metal money but could use it like fiat dollars. I would go with nickels because of less bulk. |
"The key to building wealth is to not lose money." - Warren Buffet |
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copperbullion
Penny Pincher Member
Australia
136 Posts |
Posted - 01/13/2008 : 05:49:59
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| True, I do like the idea of currency that has both legal tender status and is backed by something. |
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horgad
1000+ Penny Miser Member
USA
1641 Posts |
Posted - 01/13/2008 : 06:34:20
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The time to sell PMs will be when everybody else is buying them. We are not there yet. IMHO
When you sell, buy whatever is is undervalued. It is impossible to say now what that will be but it could be real estate or US bonds yielding 20% or ? |
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tmaring
Penny Collector Member
USA
302 Posts |
Posted - 01/13/2008 : 09:44:07
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If you view PMs as a material input to production, then the idea is to use it to create a product that embodies added value. In that way, you can constantly buy and sell no matter what the price, simply adding your "sovereignty" fee on top of the metal bullion value. This is how jewelers and minters do it. You try to maintain a stock of material so that you can buy on the dips... but sometimes you have to buy on the upswing and the cost is simply passed on.
But if you're talking about selling down your hoard, then I'd say that you only do it when two conditions are in play.
1. The price is "high" by whatever criteria makes sense to you.
2. You actually NEED the material or service you are trading for...
or...
You are acquiring a security asset (like paying off your mortgage or investing in a solar-power system) that reduces your exposure to economic crises.
I have also traded PMs for tools and equipment that increased my capacity to create value-added products. |
Tom Maringer
Shire Post Mint
Springdale, Arkansas |
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If PM keeps soaring and the dollar keeps dropping
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