Thinking of selling stack

[Cornishfarmer]

With gold creeping up to over £1020, I think gold is overpriced in £ value. got me thinking about selling my stack.      The quickest and easiest thing to do would be to sell to HGM but I have some great coins inc queens beasts/IOM/Pre 33/pandas/elephants sovs etc, which would break my heart.   So it comes down to selling on here/eBay/Facebook which would be bit of a faf. With postage/dealing with multiple people.  

Or I could kick the can down the road and think about it again in a few years.    May start to change strategy and pick up more spot coins rather than semi numi coins. 

Just new thoughts for a new year

[KevinFlynn]

What would you reinvest the money into?

[Roy]

3 minutes ago, Cornishfarmer said:

which would break my heart

Yes, don't go there! 😢

[Cornishfarmer]

Just now, KevinFlynn said:

What would you reinvest the money into?

Found a great company which pays 6.5% interest on P2P lending. Would put most in that

[JunkBond]

The vultures will be circling soon... 😉

[BackyardBullion]

12 minutes ago, Cornishfarmer said:

With gold creeping up to over £1020, I think gold is overpriced in £ value. got me thinking about selling my stack.      The quickest and easiest thing to do would be to sell to HGM but I have some great coins inc queens beasts/IOM/Pre 33/pandas/elephants sovs etc, which would break my heart.   So it comes down to selling on here/eBay/Facebook which would be bit of a faf. With postage/dealing with multiple people.  

Or I could kick the can down the road and think about it again in a few years.    May start to change strategy and pick up more spot coins rather than semi numi coins. 

Just new thoughts for a new year

You might get better prices on some items via forum/eBay/Facebook but it is aot more hassle selling multiple individual coins!

Good luck whatever you decide, just don't go selling any Queens beasts gold lions for 98% of spot like another forum member did in December 😉😉😉

[Xander]

If you don't need the money hold on to your stack, well, at least the good ones.

[Spannerman]

18 minutes ago, Cornishfarmer said:

Found a great company which pays 6.5% interest on P2P lending. Would put most in that

Keep the gold mate, with the amount of debt in the world, with banks struggling worldwide, its wealth insurance.

The P2P sounds good but if it works like a bank then any money in the bank is not yours, its an unsecured loan to the bank, you might say its insured up to £85000, but consider this..
last year Barclays bank had nearly 490 Billion of deposits, how much cash reserves to pay people if they wanted their money 90 Billion, the FSCS does not have that sort of money to bail out a failing bank, its there to instil confidence in the banking ponzi scheme, then there's bail in's laws introduced a few years ago🤔...

If you dont hold it you dont own it.

 

[Money2Metal]

Wait and see what happens with Brexit first. 

[5huggy]

SIT TIGHT! Buddy 

HODL - - the market will repay you for you patience - - you say "With gold creeping up to over £1020" -  it's not even STARTED YET! - - don't sell out too soon

ALL IMHO!

[5huggy]

8 minutes ago, Spannerman said:

Keep the gold mate, with the amount of debt in the world, with banks struggling worldwide, its wealth insurance.

The P2P sounds good but if it works like a bank then any money in the bank is not yours, its an unsecured loan to the bank, you might say its insured up to £85000, but consider this..
last year Barclays bank had nearly 490 Billion of deposits, how much cash reserves to pay people if they wanted their money 90 Billion, the FSCS does not have that sort of money to bail out a failing bank, its there to instil confidence in the banking ponzi scheme, then there's bail in's laws introduced a few years ago🤔...

If you dont hold it you dont own it.

 

TOTALLY AGREE! 

Just take a look at this and tell me  that it is not ALL about to COLLAPSE!

http://www.usdebtclock.org/#

[richatthecroft]

If it were me, I would hold.

But going with your latter idea- sell the semi numi coins now, but then waiting for a satisfactory dip in price as a re-entry point for close to spot Gold might be a good idea.  

I would try and sell here or privately.  I would need to be in a dire rush to sell to go anywhere near a dealer.  But we’re all different, and it’s your Gold. 

[watchesandwhisky]

I know where your coming from, the weak pound isnt helping neither. 

Maybe use the time to sell a few bits your not so keen on and save the cash for later. 

I just sent a few hundred quids worth of scrap 9ct to HGM today, seems like a good time to do so. 

But my bullion stack is small, so what coins i have i will be keeping. If i had a lot i would be selling at least a small portion now.

[Clens92]

The fundamentals of the UK economy haven't changed since 23 June 2016... £1050/oz in the next few weeks is by no means unachievable.  Brexit will be dragged out to the last minute and gold will rise on market jitters.

[5huggy]

US -alone about to go through 22 "TRILLION" in debt - - just look at "EVERY" other country and then try telling me that there will NOT be a reset! of the system

NONE OF THIS CAN EVER BE REPAID!  ergo default or devalue! - PM CAN ONLY GO UP! IMHO

[sixgun]

I will say you should hang onto your gold and silver. There are members here who would be interested in picking over your treasure but this is a moment in history where precious metal will do what it says on the label. Gold is the preserver of wealth. If and i say when the bubble pops and all the evils come out of Pandora's box, you will be glad you have some real money in your pocket. This is not the time to sell a stack. We might get a bit of a pull back but my instincts and the charts tell me there is more excitement coming over the horizon.

[Spannerman]

1 minute ago, 5huggy said:

US -alone about to go through 22 "TRILLION" in debt - - just look at "EVERY" other country and then try telling me that there will NOT be a reset! of the system

NONE OF THIS CAN EVER BE REPAID!  ergo default or devalue! - PM CAN ONL UP! IMHO

I agree, the numbers on the debt clock are staggering (shame theres not a British version), not selling any of my stack, buying more as its only a matter of time before the system resets and when it does you'll be thankful for your stack, you dont want your money in the bank either when it does as there wont be any coming out of the cash machines.. think Cyprus.

[dunks98]

The rate you’ll get in p2p lending will change dramatically if/when the next recession hits.  Not in a good way, if it even continues to be marketable.  That scenario isn’t played out in the marketing material p2p lenders  offer either.

 

[MancunianStacker]

Am I right in thinking that because P2P is not a bank then you won’t even get the basic FSCS compensation if the lending company disappeared etc (never mind the borrowers defaulting). A few payday loan companies have folded already so P2P could be next???

[Roy]

Yes, agreed. I have too many defaults in p2p and am exiting.

Just for fun, if you'd bought 10 x 1oz Queen's Beasts in 2016, what profit would you have made? > 6.5%?

[vand]

If you are ready to cash out after a small upmove like we have had in the last 2 months (much of which is just weakening GBP) then go ahead -- because you have no business owning physical metals. I think the potential upside is closer to 300% than 30%.

[Roy]

Steady on @vand!

You're right, of course, but @Cornishfarmer is no fool.

He's just thinking out loud I think. We all do sometimes. 

👍

[KevinFlynn]

Well, I remember a higher relative gold price in the time since I began stacking in 2011.

Do you have other wealth preservers in your portfolio (real estate?)? If not, I would at this moment not shift from precious metals to fiat.

What was your reason for investing in precious metals, did you have a goal or a general exit strategy?

[HelpingHands]

If you're 50/50 on whether to sell maybe sell 50% of the stack.  That way you can keep the better half of the collection.

[mr-dead]

1st rule for me is dont get emotionally attached to your investment (bitcoin $19k to $3.7k and people didnt dump is a good example)

I dumped my whole stack in 2016 and used the cash to pay off my house which I have never regretted for a second.

 

I always set myself goals and targets and stick to the plan.