Why I Sold Silver and Gold! (Precious Metals Selling FOMO Explained)
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- čas přidán 18. 04. 2024
- In this video, I dive deep into the reasons why I decided to sell my silver and gold holdings. If you've ever experienced the fear of missing out (FOMO) when it comes to selling precious metals, this video will provide valuable insights and explanations. Join me as I share my personal journey and the thought process behind my decision to sell. Whether you're a seasoned investor or new to the precious metals market, this video will offer you a fresh perspective on selling strategies. Watch now to understand the psychology behind selling silver and gold during times of FOMO.
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Topics covered: Tips for new gold & silver stackers. Should I sell my gold and silver? How to sell my gold. When should I sell? Offloading my full stack.
I am not a CPA, attorney, or licensed financial advisor and the information in these videos shall not be construed as tax, legal, or financial advice from a qualified perspective.
#preciousmetals #FOMO #investing #thecrucible #gold #silver #platinum #podcast #exploration #finance #wealth #silverstacking #bullion #metals #money #economics #commodities #trading #financialfreedom #silverbugs #goldstacking #investmentstrategy - Zábava
The only thing I'm dumping is US Dollars!
Dump them @ 277 new farm road 25919
Every gold shop I contacted that offered me between 55 and 100 under spot said, as soon as I give them the gold, they contact their suppliers and lock in a price, they don't keep the gold you sell them.
I'm glad ya'll can take some profits from your precious metals. I'm in it for the long haul, in about 10-15 years from now when I retire I'll finally take some $$ off the table to supplement my retirement, because as we all know we're not gonna able to rely on SS. Before then I'll probably sell some silver to take larger gold positions. But based on what I see of what's happening to the US dollar, I don't see gold going down to the days of sub $2000 price level.
I bought a ton of silver and some gold when the prices were $15-$16 and $1500-$1600.
I plan on holding it until my retirement where I will spend it slowly.
I can imagine it being below those prices at fat time But if it goes to triple digits I will be selling 70% of it
me too. I loaded up with silver when all others hated it. Now people screams for the metals. I will never let go of my silver.
Why would I sell for paper that's losing value every day.
It’s all hypothetical. In the case you need to free up cash. For instance, if someone needs to help pay for their child’s wedding…
Dump the dollar not gold and silver and the buying hasn't even started .
What I do know is paper money is becoming worthless.
I sold (4) 1 OZ gold coins @ $2377.30 each. Paid $1941.20 per OZ @ $436.10 profit on each coin X 4 = $1744.40. I will keep $1000.00 of the profit and re-invest $744.40 plus $7764.80 and buy 4 OZ's back on the dip to bring my total OZ's back to where they were. We think the same Pauly.
It's gonna be awhile before we see a significant dip.Highly doubt sub 2k gold again
There are two things I feel the need to point out.
1: Selling metal to 'cash in profits' now is betting that the nominal price will go down in the future. Selling because you think the price will go down is more foolish than refusing to sell because you think the price will go higher. I say that because over the long haul, the prices of all things will go up nominally due to inflation. Maybe you're selling at $~2,400ish and the prices go down. They very likely will. Another possibility is that the prices go even higher and you're left holding the bag. What if $2,400 now is like $400 was back in the day when gold was climbing to $1,000 for the first time? Those people who sold at $400 could either keep their $400 and have no gold or rebuy gold later at a higher price. What if the prices do go back down and you're therefore right to have sold? How can you know what the future will bring? If you're buying metals without planning for both the prices going higher or lower then you're not doing it right. Metals are not stocks; don't treat them as such.
2: I'm wording this carefully so that my meaning is clear: sophisticated stackers do not buy or sell because a price is high or low. Allow me to repeat myself: sophisticated stackers don't buy or sell because a price is high or low. I mean that. I mean that as someone who has just recently unloaded a good amount of gold and silver. Sophisticated stackers simultaneously buy AND sell because the prices are both high AND low. What I'm eluding to is ratio trading. You should be selling one metal because it's expensive compared to another metal. This strategy is both buying and selling based on decades of price data, and this virtually eliminates the noise of inflation in your statistical data.
To be clear, there is no knowing the future about ratios either. However, it's less likely to have a new dramatically higher high or lower low of a ratio between two metals than it is for the spot price of just one metal, nominally speaking of course, going significantly higher than it ever has gone before. I hope you understand that selling a metal because of what you think the spot price will do in the future is riskier than selling one metal to buy another based on the ratio of their prices.
Edit: I forgot to mention that the reason why I recently unloaded some gold and silver was to buy platinum. The ratios dramatically favor platinum right now. You spoke of the benefits of being a contrarian and therefore selling when others buy. Buying platinum is an even more contrarian notion than the selling of gold. Plenty of people are crazy about gold right now, but no one is enthusiastic about platinum. This should be making a sophisticated stacker want platinum.
But what are you REALLY saying....
Well said! Take into account it is also insurance for many so if you sell off your insurance for a few bucks profit, what do you reinvest in? Unless it is premium art , land etc I think it is very short term thinking.
Platinum does look good I trade the funds phys, pslv and pplt for weekly price fluctuations. I buy the metals and hold for an emergency and or to give to my kids without having my assets tracked on record. Some don’t need to know what you might or might not have and you have the freedom to do things with it that isn’t on some database.
Man did you get a new mic? So crispy!!
Good call on the upgrade
@@SilverHusky12 😎😎
Hello gentlemen. Subscribed to all three just now. I've been selling premium silver on Ebay this year and have sold quite a bit of silver to the LCS since spot has been so high. Been holding onto my gold though...
Absolutely awesome. Make that money, brother
Teh!!!
Everyone's buying? Retail has had a sniff, they might have a bloody nose at $5k.
I trade paper silver and gold on my brokerage account and I buy gold and silver for me to hold onto for whatever may happen in the future or if I need it for some unforeseen expense. Why buy physical if you’re not going to hold it for at least a decade. To much of a pain in the butt so if you’re trading do it in you’re brokerage account.
You don't need to ask permission to sell what belongs to you period what's the point in buying if you never experience, the selling life is short thanks guys love the content
I'm selling some soon. anyway peace (sub)
Rock on, my friend! Hope you sell at the top.
In my opinion it is stupid to buy pm with money you can not do without. If you buy with spare cash you won’t miss you so t have to sell for decades. Besides this obvious point no one is buying right now. There is not panic buying. So again, very stupid thing to do
Buying metals is a scam, you pay a premium and the shops offer you less then spot, if you make a profit and report it (LOL) the IRS considers it a long-term collectable (if you held it a year or longer) and taxes your profits at a 28% rate, lol.
I'm going to start selling all my gold and silver, according to the coin shops, I'm not the only one, lol. Shops are offering me 1 dollar below spot for silver. 55-100 below spot for gold. And NO, I'm never buying anymore back.
Silver is the most under valued asset on teh planet! Buy all you can before the metals price manipulation ends!
I'd not sell the physical yet. Only reason I bought so cheap back in 2014. It's going to 3-5000. All my metals are eagles/J. Matthey bars.But, mining stocks in the last year 1/2 I've made a boatload. Buying/selling continually in fact 30% day trades. Like the volatility.
I don't believe him; he didn't get spot. I've been calling all over the place for a month now, the best offer was 55 below spot on a gold buffalo.
He sold to a private buyer, not a pawn shop. Thats definitely the way to go when selling.
@@SilverHusky12 Not easy to find a private buyer, and there's risks in doing that. If it's a friend, you run the risk of hard feelings. If it's a stranger, you run the risk of an IRS sting operating. There're rules to selling gold. I'm a rule breaker but I also like peace of mind.
Keep in mind, if you sell your gold to a friend or some sort of contact and they report buying it, your fat is in the fryer if you don't report the sale to the IRS and pay the taxes on it.
Gold is an inflation hedge.
If you don't own gold you probably don't think the inflation that keeps getting worse is a problem. But central banks around the world do buy gold so they think so.
Any PM's I buy I hopefully to never have to sell them, or even have my kids sell them.
So you sold 6.75 OZ;s , or around that amount? Pond shops are ok if you are going to buy it back @ less than 5% Loss.
Depends on the size of the pool
Keep in mind, when selling metals, if the amount goes to 10k or more, it's an instant reporting to the IRS. Have fun paying the 28% tax rate on your profits.
Paying a premium above spot is normal when buying or selling precious metals
Question in regards to US gold investing, In Hanoi, PNJ Co. announced a rise of VND400,000 (US$15.75) in both buying and selling gold at VND82.1 million ($3,232) and VND84.1 million ($3,310) per tael. Would this action affect the US?
Anyone selling gold or silver now is not that intelligent.
I would agree. If you think it’s topped out short the paper as a hedge.
I listened to this whole thing, and I aint hating, I respect content creators putting in the time. But there is literally a CZcamsr called "Silver Seeker" and he goes around debunking all these claims that you can't sell gold or silver for x y z. And he calls different regions and different states, so the fact that you're saying you can't sell silver at spot is a bit sus becaues simply check his channel where he debunks that. Secondly, i have crypto AND gold and silver and real estate so I'm pretty forward thinking, albeit crypto cannot 'make' you a wedding ring, I definitely used my crypto profits to purchase my wifes $20k engagement ring with crypto profits :)
You are 100% correct. Someone out there will always be willing to buy over spot. Others will be willing to take silver or gold for their product. Crypto sold can show you your true profits. There isn’t an always scenario for any of these circumstances, and even then, the scenarios will change based on spot and current premiums.
@@SilverHusky12 appreciate the professional response, wish y’all success
Gold is transitory, fiat is forever. I won't even attempt to name all the different forms of fiat in history, like sugar and salt and pepper. But there was always a fiat, gold and silver, comes and goes like the wind blows. I would like to see a video of the pitfalls of buying gold and silver, they all seem to glorify the metals. You pay a premium, you sell under spot. If you dent or scratch your items, you might get 75% of spot if you're lucky. Silver tarnishes, white spots. When the price spikes, thousands of people flock to the shops to sell, to cash in on the profits. Profits the IRS wants to tax at 285, lol. Any sale gets reported once it reaches the 10k mark. So, keep it under 10k :) You will see that number (10k) pop up all-around in different government systems. You can't leave the country with more than 10k in cash/gold/silver, Jewlery ect, without explaining yourself, hours of forms to fill out at the airport, you fucking better have receipts as well, or it all gets confiscated, and you won't get it back. If you withdraw or deposit 10k or more in a bank, BOOM! ((BIG RED Flag)) The IRS and the FBI are notified by your bank, for suspicious activity, lol. Same goes for placing a down payment on a car, if 10k or more in cash, same thing, the dealership reports you. There is only one unregulated fiat that's bought and sold everywhere without any restrictions. Small enough to fit in your shirt pocket and worth millions. Sports cards. Yes, I said....Sports Cards, lol. Stick a few million-dollar graded sports Cards in your pocket and board any plane and leave the country, no poblano. Let's face it, the government wants you to work, have the payroll electronically transferred to your bank account, and you buy everything with a credit card, so you can be tracked better. CBDC is here to stay. Piss of the wrong person and you get locked outta the system, no places will except any other form of payment, not cash, not gold, not silver. Before the government goes 100% into digital dollars, they will give everybody a grace period to return all cash and coins to the bank for conversion, I'm guessing 30-90 days. After that period of time, cash will be unwanted, unneeded, unlawful, and quite worthless. after the grace period, you might find 10 million dollars in cash, won't be worth a damn thing. To anybody. The new fiat with be electronical. They'll blow smoke up everybody's ass and tell them it's a quicker better way for transactions, but we all know it's about power and control. Cross the line and get kicked outta the system. I can see a future war with systemers and all those that got kicked out, lol. Cash, coins, gold and silver's days are numbered.
🤢
The shills are hard at it here.
Why I GOt Silver and Gold from that clown ))! (Precious Metals Selling FOMO Explained)
Sell the top LoL
The guest is a nut job...he keeps interjecting...
Wait, which one is the guest?