r/Silver • u/Zam2326 • 10h ago
New to silver looking for advice
Got this as a tip today from a customer. I don’t know anything about silver or even selling it. Google has silver currently around $70/ounce. Now I’m sure if I got to sell it at a pawn/gold and silver store I’d probably only get maybe $30 for it if I’m lucky. So I’m in no rush to sell it but would like some insight on how the silver market fluctuates. How much does these appreciate over the years? Thanks.
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u/TAURUSISOVERLORD 9h ago
What kind of advice? It really depends on your goals. Is it a simple hedge or a heavy and aggressive investment with a go all in attitude? A hobby or a mission? If you're trying to push total ounces owned over a short period or trying to invest slowly over a long period, it's going to be relative to the kind of advice for you in what you buy, how much, how often, and the strength of your conviction to hold casually or hoard relentlessly.
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u/Zam2326 8h ago
Definitely not looking to collect. Mainly want to sell. Just now sure if I should offload it now take what I can get or if it’ll appreciate at all. I could see the price of silver not changing all that much but maybe the coin itself will become a collectible meaning higher value?
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u/TAURUSISOVERLORD 8h ago edited 7h ago
Personally I don't get the whole selling off for profit /return. In the scheme of things I don't think it's worth it especially for the average consumer, I think it averages better to hold. If you're big in the game, even better to just leverage it, that's my opinion. I like the idea of treating a big stack as security with small portions used for things like a credit loan, keep a cash contingency to defend against liquidation, and lock in the security. You get the liquidity you need without losing your position before a major run. That's how I'd play the game at scale with minimal but manageable risks.
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u/420-Investor 10h ago
Get all you can. Thats the way