Selling My Silver Stack

[BDTH]

I thought I would post the following as it may be food for thought to some people on here, and may even trigger some interesting debate...

I started stacking silver in 2018 with the purchase of a monster box of Britannias from Goldsilver.be which I took delivery of.

I then bought more in 2020, and by September 2020 had approx 1700 oz, 1200 of which were in the vaults of Goldsilver.be and European Mint.

I hadn’t really considered what I was going to do with the silver, I just considered it long term savings and a hedge against inflation.

In September 2020 I was informed by European Mint that the storage option was suspended, and that I would need to take delivery. With Brexit in mind I decided to take delivery from Goldsilver.Be as well.

In March of this year, for a few reasons which I am not going to divulge, I decided to sell my stack, and I sold most of it here on TSF. 

I am not going to give any advice or even opinion on stacking silver or not, however I would suggest that precious-metal stackers give some serious thought (if they haven’t already) to how they would divest, if they either decided to, or were forced to by unforeseen circumstances.

cheers,

BDTH

[Stu]

Yes, selling your stack is a major issue to consider.  It has been said many times before here; probably not worth stacking physical metals unless you intend to hold for at least 5 years and better still if a longer term hold.

Like most things, if you have to sell up quickly to raise some funds, you are probably not going to gain the optimum amount. Life does happen though, best laid plans and all that. For this very reason most of my spare cash these days is going into my SIPP where I can’t get to it until I want a pension. 

[Arganto]

Thanks for sharing @BDTH. Putting aside the reasons and circumstances that lead to you selling, would you say that you're satisfied with how the conversion back into currency/crypto went? Specifically with regards return/speed of sale?

My experience of TSF would suggest that the majority of regular posters are either long term holders that have been fortunate to not have to sell or traders that sell here and elsewhere. When there is a story about cashing in it's often a "I lost out and regret it" type of thing. I've only been on TSF for just over a year and stackers tend to be a private bunch so that's probably got a lot to do with it 😁

Feel free to not answer, privacy is paramount, I'm just curious 🖖🏻

[BDTH]

In my case I didn’t actually “have to” sell, I just came to a decision based with on a few factors (not least storage!).

TSF is a fantastic place to buy and sell, however if you do have a few hundred oz, then there are only so many buyers, even on here!

 

[Robda1986]

My suggestion is shop around if you can to find the best return on your investment had a chat with a dealer yesterday and all he is paying is £11per oz on 999 silver and 28p a gram on 925 😳 he's had over 10kg in 925 in the last week 

[BDTH]

wow, I think there are dealers offering spot (plus or minus a percent or two) for 999...

[SilverStorm]

19 hours ago, Stu said:

Yes, selling your stack is a major issue to consider.  It has been said many times before here; probably not worth stacking physical metals unless you intend to hold for at least 5 years and better still if a longer term hold.

Like most things, if you have to sell up quickly to raise some funds, you are probably not going to gain the optimum amount. Life does happen though, best laid plans and all that. For this very reason most of my spare cash these days is going into my SIPP where I can’t get to it until I want a pension. 

Putting spare cash into your SIPP (in Canada, we call it RRSP) is always a good idea.   Got to take care of yourself and your retirement first before dabbling in physical PM.  And if your SIPP is in stocks/bonds, you could have PM exposure too by buying PM EFTs or holding mining stocks.   Lots of different ways to invest in PM without actually having to physically hold it.  

[DarkChameleon]

I have sold over 1/3 my stack but bought higher premium silver like some have seen on here, its easier to store, it can be more difficult to get rid of in a hurry but with a good deal you can sell a graded historical coin (like my peace dollars), or sell online in a few weeks like my earth and beyond set....they can be removed from boxes and use up hardly anything in a sdb...its just finding the right investments in higher premium set, recommend getting the first in a set then either complete the set or sell when interest picks up...I had 100 oz bar but even just holding it I was relying on silver rather then profit from trading.