Gold and Silver Prices

[JeffH]

But you didn't sell them? Only a "paper profit" then. Price could plummet tomorrow -unlikely though.

A few years back I was buying up any 1966 50¢ available at less than $7 per. A businessman in Hong Kong was then buying them from me at $10 each. He had been buying many small lots on eBay but postage was killing the price. Doing it that way saved him because I only sent a batch when I had enough to spread the postage cost. He had been a student here years ago and liked those coins; said he never had enough money then to hoard them. They were part of his superannuation strategy so he should be sitting pretty now.
And of course, a tidy profit for me.

[fred lever]

Hi Jeff, re #12 yeah I dont know where the $15 came from either, I was a bit off the pace there!
If I visualise the silver as a pile of $100 notes it does look more attractive!
I'll sit on it and pass it on to my heirs.
Fred.

[JeffH]

Turn it into $100 notes I say while the price is high.
And don't make the mistake of waiting for it to peak. Too many have lost by trying that.

[Triggersmob]

I paid just over $27 per ounce a few years ago, when silver was predicted to rise
and indeed it did. From memory I think it got to about $40 per ounce, but I hung
in there too long and the price crashed again. It has taken this long to get ahead
again. I might sell soon and put the money in to my superannuation.

[gweidion]

I am following the price of silver very closely, as I
have 256 ounces sitting in the Perth mint. I may be
selling very shortly.

That's a nice little hoard but why keep them at the mint? Don't you have to pay them to hold them for you?
Is that so you aren't so attached to them so when the time comes you can sell them?
I prefer to keep mine here so I can Scrooge McDuck through them.

[Triggersmob]

I am following the price of silver very closely, as I
have 256 ounces sitting in the Perth mint. I may be
selling very shortly.

That's a nice little hoard but why keep them at the mint? Don't you have to pay them to hold them for you?
Is that so you aren't so attached to them so when the time comes you can sell them?
I prefer to keep mine here so I can Scrooge McDuck through them.

I purchased the silver from the Perth mint and at the time it was held for you for free
and it still is as long as I don't purchase more. They changed the rule just after I bought.

[Triggersmob]

The price of silver is up to about AUD$40 again, at long last.
Will wait and see what happens next week. Hopefully the
price will rise even more. My finger is ready to push the
button though.

[JeffH]

Silver topped AU$40 Thursday then dropped slightly and seems to be holding fairly steady at the moment.

[Triggersmob]

I wonder if $50 is too much to hope for.

[Unicorn]

Always the way Jeff! I had to sell off my good (QE) florins to raise some money around April. Likewise those bloody double header $1 (which I only asked issue price for). Now they are going for like $40 ........ ($15 ..... bah humbug). :laugh2:

[JeffH]

Uni,
My philosophy is BUY LOW, SELL HIGH.
In practice it seems to operate in reverse.

Steve,
I think $50 is too optimistic. But what would i know -even the experts don't agree lately.

[Unicorn]

Me too Jeff, I would never have sold if I didn't need to. My gut told me yonks ago that the double headers would be good  ..... (I think  put up a post) ........ though I only had 10 ...... now I see $150 go to $400 ......... so sad, but that's what happens ..... no regrets on my end as the people I sold to seemed like nice people and they weren't making any more at the time. :-)  :winkextra:

[gweidion]

[quote="JeffH" pid='122958' dateline='1596864865']

My philosophy is BUY LOW, SELL HIGH.
In practice it seems to operate in reverse.

[/quote]

My philosophy is buy low, buy medium, try not to buy ridiculously high. Sell never. Let your kids or grandkids sort that out.
(Unless I'm dumping coins I no longer want or need, in which case I'm hoping to break even.)