Selling silver

[bellevuebully]

For those who have silver which is considered investment silver, as opposed to Mad Max/shtf/armageddon silver, have you considered where you will be selling when the time comes?

If silver goes to very high price levels (ie..$150/oz), have you considered the fact that your options will be limited in as far as which entities will have the capital to buy silver. Also, assuming you will be paid by cheque (or check for my US friends ;D), have you considered the implications of handling substantial investment proceeds within a system that has numerous reporting requirement laws placed on banks and other financial institutions?

Just curious who may have given these issues some thought, as at $150/oz (should we see those levels, which imo, are quite possible) selling 300oz would would require dealing with 45k of proceeds. Dumping 45k into an account is bound to raise some flags within the system, regardless of the fact that it is legal, legit investment proceeds.

[VX1]

Well, seems to be plenty of buyers of gold at $1400+. I think the answer is, silver can't get to $150, unless buyers exist at that level. But you're right about it not being under the radar as much.

When I'm talking to newbies about investing in silver, their first question always seems to center around "how would I sell it when I want; who would buy it"? My answer is always that you have about 6000 years of history on your side that says there will always be a buyer. Besides, you're not "selling", you're converting back to a recognized currency (and usually a bad one, aka Gresham's Law).

[MAGNES]

Trade your 100 oz bars right now, those are insane to hold.

[Ponce]

That's something that worries me a lot.........because of the ammount of silver that I hold I know for sure that I will be a nail sicking out of the wooden board when is time to sell.

Let's say that I buy my "Silver Island", how will the now owner operate?, will he take part of my silver as a trade? will he want cash?.....and then, I know that uncle sugar will want to know where the money came from (even if the island is overseas).......so that the only choice that I have is to stay overseas and loose my Social Security hahahahahahahahahahah.........and worse yet.....I will have to hire a cargo ship to take my tp to my island.

But all kidding aside, about the only real change that I would make is to hire a servant to clean up this rat nest......she would first have to use a bulldozer and then a chovel......and then to take it from there.

[ximmy]

silver at $150.00 will still be (low) & very easy to sell & trade...

take a looksie at
gold
platinum
palladium

silver should already be 3 digits...

[Ponce]

Palni, at my age I really don't care who is what.........at 16/1 ratio I would try to trade some of silver for gold........but only because that it would be better than that monster old safe burried 10 feet under a burn pile.

[Mad_Max]

Trade your 100 oz bars right now, those are insane to hold.



Why? They can be remelted to smaller size if need be.

[Silver Shield]

The move is to either borrow against your new found wealth and buy income producing real estate or stocks.

If you are really sharp start a bank.

[Silver Shield]

Btw stop thinking in dollar terms because the dollar will not exist when it is time to sell.

[Gaillo]

When Silver hits $50 per ounce, I'm planning on liquidating 1/4 of my holdings for cash - which will immediately be converted to food, fuel, and other preps. At that point, since I bought most of my silver in the $6-$12 price point, I will have the other 3/4 of my Silver "free of charge" to hold until whatever (shtf, etc.) - hell, it could go to $0 and I'd still be ahead, not that it ever will! ;D

[Antonio]

Palni, at my age I really don't care who is what.........at 16/1 ratio I would try to trade some of silver for gold........but only because that it would be better than that monster old safe burried 10 feet under a burn pile.

In your case if silver gets to $150/oz and Rhodium makes it to $50k/oz you might almost swim to your island with all your holdings should you make the switch.


it would be funny if Ponce in fact held a 55 gallon drum full of rhodium sponge instead of TP.
PS. Whenever I see threads about Ag going to the stratosphere I feel like renaming them into "Money Laundering Suggestions Thread".
My recomendations are buying a car wash, the easiest way to launder tons of cash, the tried and true Brooklyn way.

[Ponce]

OK, OK.........I'll be the embassador to Cuba..........................

Sorry to say that I am feeling my age, and can only wonder what the future holds for me.........I can only now make plans to survive, but the future can change from day to day.

[Antonio]

My recomendations are buying a car wash, the easiest way to launder tons of cash, the tried and true Brooklyn way.

My choice would be an ambassadorship. The diplomatic immunity would be a great positive asset.


IMHO those without cash businesses shouldn`t hope to dump all their PMs at once when they feel that the peak has arrived. I plan to sell one silver dime at a time in order to afford food. PM peak will be like finding a garbage bag full of FRNs today, a happy occasion but not without presenting huge difficulties and risks.

All this doesn`t apply to the already wealthy and connected.

[bellevuebully]

Thanks for the replies. Let me be a bit more concise, referencing some of the responses:

VX1....I should have been more clear. I don't think there will be no buyers...just less buyers. No coin shop at the corner of Main and 4th will have the means to buy a 100ozer at 100bucks. 1 oz coins yes, but how many buyers will this guy have coming in looking to even buy a 10ozer, let alone a 100ozer. Now, bigger players will still be there, but you'll have no choice in form of payment.

MAG.....I think you are correct in saying smaller pieces are more prudent to hold. They will give the seller a wider range of potentiol buyers.

Ponce...referring to your thoughts on uncle sugar....that was one of my main points. Let's say you go and find a nice island and cash in your bazillion dollars worth of silver. Well, number one....you're going to be getting that in check form from someone like Apmex or Kitco, or some big bullion dealer....not Tony at Cash for Gold. When you make that deposit into the bank, who knows what kind of bells and whistles will be going off. Your points are bang-on what the OP was about essentially.

Ximmy....to be truthful, I was being a little conservative at saying 150. Personally, with the inelasticity of silver in it's industrial uses and the fact that stockpiles have been pillaged for 25 years, in addition to the tiny size of the market, I think silver can go much higher. As an example, I talked to my broker the other day and asked him how many of his clients (he is a district manager in a fairly large area...not mega metro, but large enough) own silver stocks. He said 2, including himself. Me and him. Haha. Silver has moved from 4-35 and nobody owns it yet. Where will it go? We'll see, but unless these mines can pump out huge quantities in a short time, things will only continue moving up. And I wouldn't hold my breath on that front....the mines that were shut down in the 90's due to low prices and are now in the process of being re-opened aren't even progressing into development...most are still into the initial stages of refurb and bulk sampling. This stuff does not happen over night. So in short, I totally agree with you that we have a long way to go, which re-emphasises my point that cashing in a fair sum will have some logistical things to take into account.

Palini...bi-metalism is a legit concept, but until world economics works on a gold and silver exchange, the train has to keep moving forward. At some point, conversion to system currency has to be done, whether you are ultimately trading into real estate, equities, etc. You can bounce back and forth between gold and silver until gold is 10k an oz or better, but then you still have the logistical issues I brought up with regards to form of payment, banking and uncle sugar. Unless you have a reciept for every ounce you ever bought, the gov can bend you over their knee and spank you black and blue with taxes and interest on cap gains.

Gaillo.....good plan taking some off the table for neccessities. But in shtf scenario, you are basically depending on others being willing to trade goods for silver. Imo, most of those who don't have silver will be needing the same things you do and won't be worried about silver....they'll be worried about not staving to death.

Antonio....your PS point made me laugh. Maybe this thread? hahahaha

Again, thanks to all who responded. I think the common thing is to anticipate Ag going up exponentially, but then forgetting we still have to deal in a paper system that has some logistical challenges. Any other thoughts you have would be appreciated.

[bellevuebully]

My recomendations are buying a car wash, the easiest way to launder tons of cash, the tried and true Brooklyn way.

My choice would be an ambassadorship. The diplomatic immunity would be a great positive asset.


IMHO those without cash businesses shouldn`t hope to dump all their PMs at once when they feel that the peak has arrived. I plan to sell one silver dime at a time in order to afford food. PM peak will be like finding a garbage bag full of FRNs today, a happy occasion but not without presenting huge difficulties and risks.

All this doesn`t apply to the already wealthy and connected.


You seem to get it. Not that others don't, but I totally identify with your comments here.

[RJB]

When silver is way over $100, that means the the dollar is officially dumped. People in China and India will still be buying. When our currency is worthless someone else's will be stronger. Silver could be 1 million Dollars an ounce and be 1 Rupee an ounce. Those who buy silver here will just ship the remaining wealth over seas. It will usher in the final nail in the coffin of this once great nation.

Someone will always buy.

[PatColo]

My recomendations are buying a car wash, the easiest way to launder tons of cash, the tried and true Brooklyn way.


for these notorious cash/money-laundering businesses (car wash, barbershop, laundromat...), wouldn't "they" have developed some metrics by now, where they audit your water, detergent, power etc costs/usage, and match that up with your claimed income?

I haven't crossed the selling bridge yet, given away quite a few 1-oz coins as gifts though. But always considered craigslist ads to sell, some minimum quantity to make it worth my while, prolly meet in a bank lobby for security.

[BabushkaLady]

My recomendations are buying a car wash, the easiest way to launder tons of cash, the tried and true Brooklyn way.


for these notorious cash/money-laundering businesses (car wash, barbershop, laundromat...), wouldn't "they" have developed some metrics by now, where they audit your water, detergent, power etc costs/usage, and match that up with your claimed income?



"They" already do those things. And the car washes already alternate water usage from their neighbors for a fee. And the car washes have gotten creative on their drains too.

You should see all the ways to skim from a Gas Station . . . :-X

[Sparky]

Thanks for the replies. Let me be a bit more concise, referencing some of the responses:

VX1....I should have been more clear. I don't think there will be no buyers...just less buyers. No coin shop at the corner of Main and 4th will have the means to buy a 100ozer at 100bucks. 1 oz coins yes, but how many buyers will this guy have coming in looking to even buy a 10ozer, let alone a 100ozer. Now, bigger players will still be there, but you'll have no choice in form of payment.
...


BB, you'd be surprised. My local dealer was just starting out in the late 1970's. He told me that looking back he was too conservative, because at the peak in 1979-1980 he was transacting $100,000 per day while his big competitors were doing $1 million.

The main point here is that the only way silver gets to $150 or $250 or whatever is if there are plenty of buyers. Toward the end, the price and the number of buyers increase exponentially. Then, suddenly, there is nobody new left to buy, and the bull run ends for another generation. Like all bubbles.

[ShortJohnSilver]

for these notorious cash/money-laundering businesses (car wash, barbershop, laundromat...), wouldn't "they" have developed some metrics by now, where they audit your water, detergent, power etc costs/usage, and match that up with your claimed income?

I haven't crossed the selling bridge yet, given away quite a few 1-oz coins as gifts though. But always considered craigslist ads to sell, some minimum quantity to make it worth my while, prolly meet in a bank lobby for security.


The IRS does have metrics, however, what happens is that you have the local plumber rent a backhoe and dig up the water main on your property to check it for leaks. Once there is a leak that you can document, they know they can't do anything for that year - everyone knows you can lose 5000 gallons so quickly over a water leak... for those cases where you have a water recycling setup you can probably game that too.

[zap]

When you buy gold or silver, it is for the long haul...... to leave to your kids, in order to hold your purchasing power.

[Twisted Titan]

QFT Zap

You have to make sure the childern understand YOU NEVER SELL YOUR PM's

What you can do is LEVERAGE THEM FOR FAVORS AND STRATEGIC ADVANTAGES WITH KEY PEOPLE TO INCREASE YOUR INFLUENCE GOING FORWARD.


T

[solid]

When silver is way over $100, that means the the dollar is officially dumped. People in China and India will still be buying. When our currency is worthless someone else's will be stronger. Silver could be 1 million Dollars an ounce and be 1 Rupee an ounce. Those who buy silver here will just ship the remaining wealth over seas. It will usher in the final nail in the coffin of this once great nation.

Someone will always buy.


This is what I was thinking. When I think of gold and silver, I think of what is truly the world's most honest international form of money, because it is.

There was a member here awhile back that traveled Europe with gold sovereigns. Each country he went to, when He needed local paper money, he'd cash in a sovereign. I thought that was a great way to travel actually.

It's important to think outside the US. If silver is $150 an ounce, do you still want to live here? How bad will it be in the country? There may be places where it would be much safer to move your silver and gold, where you can live a better life more comfortably.

[solidus]

There are 2 kinds of silver--physical silver and paper silver. Paper silver is an investment and is treated as such. Sell it when you think it is most advantageous and render unto Caesar what is Caesar's. Physical silver is an insurance policy. Sell it when you need to take care of yourself and your family (food, medical care etc.) in a SHTF scenario. These transactions will be by their nature, small in denomination and discreet.

[Andy9999]

That's something that worries me a lot.........because of the ammount of silver that I hold I know for sure that I will be a nail sicking out of the wooden board when is time to sell.

Let's say that I buy my "Silver Island", how will the now owner operate?,

Ponce the island can tip over from all that silver weight

http://www.youtube.com/watch?v=zNZczIgVXjg


couldnt resist to joke a little,and global warming may melt all that silver too