I have a complete set of U.S. Silver Eagles in uncirculated condition. Should I sell the set at today's high silver price and buy back when the silver
prices go to more normal levels ?
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DickQ |
Silver Prices |
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I have a complete set of U.S. Silver Eagles in uncirculated condition. Should I sell the set at today's high silver price and buy back when the silver
prices go to more normal levels ?
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coinadmin |
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DickQ,
Welcome to the forum! You posed an excellent question. If we knew for a fact that silver prices would go down within a certain time period, I'd say sell, but there's no guarantee that will happen. It's possible that for the next 50 years silver will stay at an all-time high. Then again, it's also possible that silver will drop to record lows next week. The real issue is trying to time the market, and just like in the stock or housing market, no one knows what's going to happen. It's always a bit of a gamble when you make a transaction, but most people tend to do better when they ride out the market for the long term, staying in it for the whole ride. Trying to time it just right is very difficult. My recommendation is to hold onto the silver unless you need to cash out or you have a better investment. One question to consider is what you would do with the money if you were to sell your collection. If it's going to sit around doing nothing, then you're better off keeping the silver. Hope that helps.
Last Edited By: coinadmin 1-May-2008 14:09:27.
Edited 1 time.
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wikyva |
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DickQ,
I agree with coinadmin ... for me personally, I do not view my coin collection as an investment. So I would be inclined to keep the silver eagles just to keep them in my collection. If I did view the collection as more of an investment, then I would be thinking just like coinadmin. Chris P.S. Welcome! |
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