Geniuses who sold Silver at $30 an Oz -How is that working out for you?

[Godisnowhere]

I laughed when people posted about selling silver at $30 an oz and posted with such an all knowing attitude. With 100 Trillion dollar liability and a budget with deficits of 1 trillion a year, payment cannot be made without printing dollars. Printing dollars=silver price increases simple math folks. So any more all knowing genius's anxious to sell at $41 dollars per oz? Facts: Silver inventory real low, US Printing press running real fast, US debt cannot be repaid without devaluation, silver market kept artificiallly low, silver to gold ratio still too high. Genius's do not let the fact keep you from selling.

 

[The_Ruffneck]

If they bought at $4 they still did pretty good.

 

[bobbyw24]

Speaking of "geniuses," would you like me to correct your title?????

 

[Dr.3D]

Speaking of "geniuses," would you like me to correct your title?????

Wow, you have the ability to do that?

 

[MelissaWV]

I laughed when people posted about selling silver at $30 an oz and posted with such an all knowing attitude. With 100 Trillion dollar liability and a budget with deficits of 1 trillion a year, payment cannot be made without printing dollars. Printing dollars=silver price increases simple math folks. So any more all knowing genius's anxious to sell at $41 dollars per oz? Facts: Silver inventory real low, US Printing press running real fast, US debt cannot be repaid without devaluation, silver market kept artificiallly low, silver to gold ratio still too high. Genius's do not let the fact keep you from selling.

Silver will never peak. You hold onto that forever! Even when there's no market, you keep on holding onto your silver, okay?

If one buys in and sells later and still makes an okay profit, I fail to see how some ridiculous kid on the internet would make one remorseful. A rise of $26 from $4 is nothing at all to sneeze at. When did you buy in?

 

[randolphfuller]

I didn't sell all of my silver until $35.00. I am still remorseful and too frightened to buy silver again.

 

[angelatc]

I laughed when people posted about selling silver at $30 an oz and posted with such an all knowing attitude. With 100 Trillion dollar liability and a budget with deficits of 1 trillion a year, payment cannot be made without printing dollars. Printing dollars=silver price increases simple math folks. So any more all knowing genius's anxious to sell at $41 dollars per oz? Facts: Silver inventory real low, US Printing press running real fast, US debt cannot be repaid without devaluation, silver market kept artificiallly low, silver to gold ratio still too high. Genius's do not let the fact keep you from selling.

They made money. What's the point? (And "Genius's" know when and where to use an apostrophe, not to mention spell-check.)

 

[ItsTime]

I bought at 10, thinking of selling now. Would that be stuuuuuupid?

 

[psi2941]

i bought at 17 and i was about to sell at 21, good thing i got was busy and never had the time to really call apmex to sell my stuff.

on the side note, i agree in the long run silver will go sky high but when cnbc starts promoting silver and gold (also when they are nice to peter schiff all of sudden) i kinda get scarred

 

[nobody's_hero]

Technically, you don't really "profit" off of gold/silver. I bought silver when it was $23/oz because I was tired of watching my savings get eroded while sitting in a bank account, so I closed out my savings account and bought as much silver as I could get with it. It's an inflation hedge more so than a way to earn a profit. The silver's value didn't change, it's the dollar's purchasing power that is changing.

That said, don't bother saving your money in a bank account, buy silver. Any price is a good price so long as a central bank has control of the fiat money supply.

 

[MelissaWV]

Technically, you don't really "profit" off of gold/silver. I bought silver when it was $23/oz because I was tired of watching my savings get eroded while sitting in a bank account, so I closed out my savings account and bought as much silver as I could get with it. It's an inflation hedge more so than a way to earn a profit. The silver's value didn't change, it's the dollar's purchasing power that changed.

That said, don't bother saving your money in a bank account, buy silver. Any price is a good price so long as a central bank has control of the money supply.

I used the phrase because, in the case of the people the OP is talking about, they sold their silver. If you bought at $4 and sold at $28, then you did turn a profit... a return would have been a better phrase. If you are just investing and holding it, though, then the price is going to fluxuate and you didn't get anything for it yet. You just own silver (or silver certificates, or some other means of saying you own it without having physical silver).

 

[Dr.3D]

I bought at 10, thinking of selling now. Would that be stuuuuuupid?

LOL, would you feel stuuuuupid if you sold and then it kept on going up to $80?

 

[nobody's_hero]

I used the phrase because, in the case of the people the OP is talking about, they sold their silver. If you bought at $4 and sold at $28, then you did turn a profit... a return would have been a better phrase. If you are just investing and holding it, though, then the price is going to fluxuate and you didn't get anything for it yet. You just own silver (or silver certificates, or some other means of saying you own it without having physical silver).

I see. I just didn't want anyone to forget that the silver is relatively stable. The dollar is what fluctuates wildly.

 

[MelissaWV]

LOL, would you feel stuuuuupid if you sold and then it kept on going up to $80?

I guess I never got this. It's obviously a pretty common sentiment, though, because game shows used to prey on it frequently.

If I go on the oldschool "Let's Make a Deal," and I know that there's a prize worth $25,000 (because the host says so; one of my choices could be worth that much) and I choose a curtain that holds $10,000 in prizes, should I trade it away? Should I take what's behind one of the two other curtains, knowing one is a joke and one is worth more than twice as much? Crap. I'd be happy with my $10,000 prize.

Likewise, if I had gained some money with silver (so long as I had other investments and other means of "savings" going on), and had sold it, and it kept going up... I'd be happy with the money I made off of it.

The dollar fluctuates wildly, but we all use them to some extent or another. I am not giddy over dollars. I am happy at the amount of purchasing power I've gained for pretty much no work at all.

 

[Dr.3D]

I guess I never got this. It's obviously a pretty common sentiment, though, because game shows used to prey on it frequently.

If I go on the oldschool "Let's Make a Deal," and I know that there's a prize worth $25,000 (because the host says so; one of my choices could be worth that much) and I choose a curtain that holds $10,000 in prizes, should I trade it away? Should I take what's behind one of the two other curtains, knowing one is a joke and one is worth more than twice as much? Crap. I'd be happy with my $10,000 prize.

Likewise, if I had gained some money with silver (so long as I had other investments and other means of "savings" going on), and had sold it, and it kept going up... I'd be happy with the money I made off of it.

The dollar fluctuates wildly, but we all use them to some extent or another. I am not giddy over dollars. I am happy at the amount of purchasing power I've gained for pretty much no work at all.

Well, then you wouldn't feel stupid. He asked if he would be stupid and I answered if he would feel stupid if he sold and it kept going up.
That is a decision he would have to make, not one you or I can make for him.

 

[LibertyRevolution]

Dear OP, you do understand that someone could announce they hit a huge supply of silver and the price could fall off a cliff?
Also, silver is an industrial metal and demand of industrial silver could drop and so could the price.
Please be prepared, you never know when it could fall off a cliff.

I mean it could pull a Platinum..

God forbid it pulls a RHODIUM:

I am hoping for the auto sells kick in at about $45-46 .. I think its going to drop it back to the high $30's after the sell off.

I predict that people like my that swapped our gold for silver back at 68:1 are just waiting for it to go below 30:1 so we can swap back for double our gold. When this happens silver will tank.

 

[nobody's_hero]

Do you think they could mine that new silver faster than the Fed can print dollars? Lol.

 

[Travlyr]

Do you think they could mine that new silver faster than the Fed can print dollars? Lol.

Lol... That's what I was thinking. The magic money machine can create dollars pretty fast these days.

 

[sofia]

I didn't sell all of my silver until $35.00. I am still remorseful and too frightened to buy silver again.

It the paper that you should be afraid to hold on to. It is losing value as we speak.

Convert all of your paper to silver...buy 10 ounce bars....most effective...least markup.

hyperinflation is INEVITABLE

 

[IBleedNavyAndOrange]

Physical gold and silver are money. Buy them with your devaluing FRNs. Trade when necessity dictates and not before.