http://i.imgur.com/Es9xsGW.jpg
I sold most of my gold and silver hoard back in 2011 that left me with little more than a few war nickels and that proof ASE. I had been stacking since the early 2000's, but the rush from all the cash was short-lived. Hopping back on the train at less than $20/ozt. feels right :) Happy Stacking to you all!
Posted Jul 18, 2013, 4:18 PM UTC
Welcome back.
Thanks :D
Glad to have you back. You just reminded me that I had a dream last night that I had this big pile of nickels and I was looking for mint marks.
You made a good decision selling while pice was high.
Back when I started using my metal detector I remember I used to have all sorts of fun coin hunting dreams. Finding them in crystal clear lakes, my backyard, at school... good stuff :)
Congrats, you would seem to be "the smart money". If you care to indulge, would you sell again after another rise similar to 2011 (say, $90 silver) or do you think "to the moon / paradigm shift" theory is likely?
Absolutely. I really enjoy collecting but the real fun is cashing in on a big win. I don't buy too much into the whole TEOTWAWKI thing. The probability of a catastrophic event where my only means of survival would be dependent on my silver hoard is slim to none. If it does happen, then I'd be likely to at least have some pms to my name - so be it. I assume that's what you mean by the "to the moon / paradigm shift". If not, please enlighten me.
It's worth nothing that I was lucky in the 2000's and didn't have to cash them in for anything. The price of gold was what really did it, I had a few ounces that I bought for $400-$500 and I couldn't resist when it was $1650 (kindof wish I had waited a bit longer, but whatever), silver was about $40 when I sold so that wasn't as big a factor. If silver hit $90 then I'm sure gold would be equally as pricey and I'd likely sell again.
You have picked a fantastic time to return!
I sure hope so. I really feel like this $20/ozt might be brief, but we'll see what happens. Hopefully it'll dip below $15 at least before we see another rise.
It's possible -- but I don't see it getting that low -- my crystal ball says $17 would be bottom (if it falls anymore)
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The idea that silver will be traded for goods and services during a TEOTWAWKI situation is laughable. If the SHTF you can keep your silver... the only thing worth a damn will be Firepower and gasoline ;)
You need more than that imo, but that's a good start. The thing I see happening in an economic collapse is things becoming very expensive, and silver being on that list. A hedge against hyper inflation if you will.
Yes. But what happens when you run out of firepower and gasoline?
Btw, you have a perspective on this that has been recently discussed here, and about which I've recently had discussions irl: was it hard to part with your stack? Did you see it as just a stack or - like many of us - stack + collection?
The only piece I held onto was the proof ASE because my father gave it to me. I forgot about the war nickels so they survived too. Otherwise, I see my entire collection as an available liquid asset; so roughly 99% of it. It wasn't incredibly difficult to part with it as I needed the cash for a car and it took a huge chunk out of my student loans. I was a bit sad to see over a decade of savings go, but in my mind it served it's purpose. I collect it because it's fun, and when the time comes it's there if I need it. I also can't take it with me when I go, right?
Happy stacking to you as well.
Thank you!