When is the Right Time to Sell Silver?
Silver has been used as currency for some 5,000 years and historians believe Silver was mined at least as early as 3000 BC. Silver boasts a long and venerable history as a form of tangible wealth. Contemporary societies maintain this reverence for Silver as an investment item and a personal adornment material. Simply put, Silver has never gone out of style.
Many people choose to own physical Silver for security. Your tangible Silver wealth represents a liquid asset in the face of an emergency, as well as the opportunity to grow real wealth when held for the long-term. If you have considerable Silver holdings, you may wonder, what course of action do you take when you need or want to sell some of your Silver? To whom can you sell? What is the right time to sell Silver?
We at APMEX are eager to be of service. We are not only the leading Precious Metals e-retailer in the United States but we buy Precious Metals, too. APMEX can purchase your Silver, should you wish to sell, and our excellent customer service record means you can do business with us knowing you will be treated fairly. However, we are also serious about empowering our clients to make the best investment decisions for their needs. Selling at the right moment is an important part of maximizing your Silver investment, and we are here to assist you.
If you are facing an emergency, the immediate liquidity of Silver may be a comfort to you. However, we are here to discuss making the decision to sell some of your Silver holdings outside of an emergency. What should you look for in the market? How do you time a sale properly? Something to consider is that while a spike in the Silver spot price may make a sale tempting, selling your Silver on a whim is not a good way to build real wealth. It is understandable that you want to realize the highest possible profit, but a big surge is volatile and periods of volatility are best ridden out with patience.
Good times to sell Silver are when you:
- Have a specific plan for the cash the sale will generate, such as a vacation.
- Are physically outgrowing your storage. Especially with Silver, serious investors may need to reduce their holdings to fit their allotted storage space.
- Need to set your Silver holdings at a specific number of items or ounces for the purposes of estate planning. Equal division among your heirs can stave off family discord.
When you have made up your mind to sell some of your Silver, watch the spot price for a bit. When you see a gentle upward trend evidencing growth, but not volatility, it may be time to sell. Selling to APMEX is easy. Simply set up a free online account and then call us at (800) 375-9006. We look forward to helping you.