New to Selling Silver

[Gloskd]

Hi All,

I am looking for some advice or direction in selling silver. I am completely new to silver. I bought a considerable amount of brand new 1 oz Britannias from Atkinsons and now I am thinking about how to sell them.

Now the point is that I made a bet with my colleague at work about four years ago that Iran will be attacked and destroyed by the end of Joe Biden's presidency. I know it does not sound perfectly reasonable but I am still positive that I will win my bet.

If I am correct then gas and diesel prices will sky rocket and it will cause huge economic shock. Whole countries will go bankrupt. In such a case scenario can you please tell me what do you think will happened with the price of silver. Will it go up or down and how long will it take?

Can any one please tell me what you think will happen with the price of silver in the coming months or years?

Can I sell the whole lot in one go?

As I said I know it may seem stupid to stick to such a case scenario but I had this kind of a feeling before and I managed to buy a flat by trusting my instinct. I bought it in a perfect time i.e. in February 2009 for 50K when asking price was 80K.

[ChrisSilver]

If you do decide to sell on the forum please do make sure you have first read the applicable QuickStart guide to trading as it contains useful and important information before trading on the forum, including the associated linked topics within it about how to reduce risk of trading etc. 

UK QuickStart Guide
EU QuickStart Guide
USA & Canada QuickStart Guide

[Tn21]

Hmmm, regarding the silver purchase from Atkinsons. Plain and simple your going to have to hold for the long term. 

As an industrial metal silver will be affected in a recession and prices will fall. 

 

This is a wild guess but by 2030 I'm hoping to see previous highs taken out and maybe a new all time high. 

 

It's going to frustratingly slow, sorry if that's not what you wanted to hear (just guess work)

Edited July 26 by Tn21

[modofantasma]

16 hours ago, Gloskd said:

Can I sell the whole lot in one go?

Yes.

16 hours ago, Gloskd said:

Can any one please tell me what you think will happen with the price of silver in the coming months or years?

You'll get a mix of opinions from different members. They are just that though, opinions. Nobody knows for sure what silver will be on any particular date in the future.

16 hours ago, Gloskd said:

Will it go up or down and how long will it take?

 

[Fenlander1]

@HonestMoneyGoldSilver you must have a snippet of wisdom regarding this 😆 

[modofantasma]

Or @Bratnia 

[Thelonerangershorse]

17 hours ago, Gloskd said:

I made a bet with my colleague at work about four years ago that Iran will be attacked and destroyed

By whom, may we ask?

[HonestMoneyGoldSilver]

1 hour ago, Fenlander1 said:

@HonestMoneyGoldSilver you must have a snippet of wisdom regarding this 😆 

You take this one mate, I'll take the next one 👍

[Fenlander1]

I am not intelligent enough for this conversation 😒 

[Gordy]

how much was the bet for, I'll take the same bet, cheers

[Darr3nG]

19 hours ago, Gloskd said:

I bought a considerable amount of brand new 1 oz Britannias from Atkinsons and now I am thinking about how to sell them.

Atkinsons are paying £22.73 for 1oz Brits - sell back to them?

[Bratnia]

On 25/07/2024 at 21:52, Gloskd said:

Hi All,

I am looking for some advice or direction in selling silver. I am completely new to silver. I bought a considerable amount of brand new 1 oz Britannias from Atkinsons and now I am thinking about how to sell them.

Now the point is that I made a bet with my colleague at work about four years ago that Iran will be attacked and destroyed by the end of Joe Biden's presidency. I know it does not sound perfectly reasonable but I am still positive that I will win my bet.

If I am correct then gas and diesel prices will sky rocket and it will cause huge economic shock. Whole countries will go bankrupt. In such a case scenario can you please tell me what do you think will happened with the price of silver. Will it go up or down and how long will it take?

Can any one please tell me what you think will happen with the price of silver in the coming months or years?

Can I sell the whole lot in one go?

As I said I know it may seem stupid to stick to such a case scenario but I had this kind of a feeling before and I managed to buy a flat by trusting my instinct. I bought it in a perfect time i.e. in February 2009 for 50K when asking price was 80K.

It will go up and down. Sooner or later it will move up or down by a lot, but the timing of that is the $1M question.

Shopping around and I suspect you'd find a dealer that was prepared to buy the whole lot. If not then blocks of sizable amounts might be bought from you by each of multiple dealers. As ever if the price is right then pretty much anything might be sold.

As ever its a risk/bet. Broadly taking on risk is more rewarding than playing things safe, but that can backfire. Key is to simply question how you'd feel/be if the downside risk did present. One way to address that is to diversify, not just concentrate into a single asset/speculation but spread your exposure around, some stocks and gold/silver etc. With a view/hope/expectation that what might be bad for one asset can be good for another asset.

When you hold multiple risky assets that are appropriately diversified then you're more inclined to capture some of the rewards for having held riskier assets whilst having diluted down the overall total portfolio risk.

The fundamentals of investing are quite simple, typically we'll either be in a phase of QE, where the central bank is printing money typically to buy bonds, that pushes bond prices higher/bond yields lower and that debases the currency so pushes towards inflation. That in turn tends to have investors rebalance out of bonds to buy more stocks - so stock prices are inclined to rise. Whilst gold might also rise, as the currency is debased. Or QT, where maturing bonds aren't rolled, debt is paid off - typically out of surplus state wealth at the time, that typically has the opposite effect on bond/stock/gold prices. Usually QT is a lot smaller/slower than QE, is more gradual/progressive. Outside of being in either QE or QT and its more a case of FX, currency inflows or outflows. Outflows tending to see assets such as stocks being sold, the currency weakening so gold tends to rise; The opposite for inflows - such as investors flighting to the USD for safety during uncertain/fearful times.

Basically you want to be holding some of both stocks and gold (and/or silver). How much of each is again the $1M question. The more neutral stance being 50/50 of both, or perhaps 67/33 stock/gold given that the broader progression tends to be more saw-tooth, stairs up/elevator down.

Yet another factor is averaging. Ideally you should average in, and out, over time rather than making big single lump amount moves. The broader average from holding a bunch of riskier assets is generally OK/good, averaging in/out is more inclined to align with that average. The rewards from single points in time with large amounts in (out) are much more variable, could be fantastic, could be dire.

Edited July 27 by Bratnia

[Thelonerangershorse]

The  ultimate answer is, that if any of us knew for sure what the silver price would be in 6 months or even just next month then we wouldn't be sat posting cr*p on a forum, we'd be sitting on a beach drinking something with a little umbrella in it.

[DisplayName]

Don't think the old man knows what an Iran is anymore or thinks the Shah is still around. 

If you're so good at investing, why don't you tell us where it's going?

 

[Pm1987]

It also highly depends what Brits you bought. Modern ones from the last years will be a bit of a loss for the time being I think. Older (first ten years or so from 97) will always sell for a premium. 

[Gloskd]

On 26/07/2024 at 15:57, Thelonerangershorse said:

By whom, may we ask?

Back in January 26th 2023 USA and Israel finished military exercise Juniper Oak 23.2. The CENTCOM message was "USA Juniper Oak 23.2 a large scale exercise in Israel and Eastern Mediterranean sea Juniper Oak is the largest exercise between US and Israel in history and involves thousands of troops and assets in air, on land, at sea, in cyberspace and in space". Allegedly both armies attacked and fired live rounds at buildings that were copies of the Iranian nuclear installations. I just do not think it was a coincidence. There were some additional messages like for example Benny Gantz telling air force cadets in December 2022 that Israeli air forces may in two, three years attack nuclear installations of Iran. The Hamas leader Ismail Haniyeh normally lived in Qatar and had been visiting the Iranian capital only for the inauguration of President Massoud Pezeshkian. The fact that he was recently killed in Iran can not be a pure coincidence in my opinion.