Monday, April 24, 2006

When to Sell Silver

When to sell silver is important and judgment must be made as to sell too soon or too late can mean a loss on one’s original investment or potential future improvement in investment.

Currently the value of silver is increasing weekly and it is a great time now to buy silver.

When to sell silver should really not be dependent on the value of silver but on your need to convert it into cash. It is a good idea to own a selection of silver. Coins, valuable and just those for the silver content (junk coins they are called) and small and large silver bars are a good mix. Then you can keep and or sell what ever is required at the time. Owning just one large 400 ounce bar of silver restricts you in that you would have to sell the entire bar. However owning some coins and some smaller bars as well as larger ones, say 10 ounce, and 100 ounce bars and one ounce coins, gives you a choice and enables you to still retain some of your assets.

Take special consideration when selling silver coins especially. Sometimes they are hard to replace due to limited mintage or rarity.

Consider who you sell to. If you belong to a coin collectors club or know a reputable dealer, that can provide good outlets to sell silver. Advertising in newspapers and auctioning on eBay are other avenues. Make sure, in these instances, you know and can trust the buyer, especially if the value you are selling is high.

It really is better never to sell your silver asset unless you really need to and then sell only enough silver to convert to what you actually need.

It is very important knowing when to sell silver just as it is important knowing when to buy silver.

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