Not All Premium Silver Is Created Equal

Back when quite a few people were posting their 12 Days of Christmas wish lists, I got to see quite a few interesting pieces. Many were prohibitively expensive due to limited mintage, eye appeal, etc. Just because it has those traits, however, doesn't mean a premium or low mintage piece will appreciate in value and garner lots of demand and attention when offered up for sale.

Selling Silver to Power Up HP
I have quite a bit of silver, so I looked through my premium and lower mintage pieces to see what I no longer cared for and would be willing to sell. While I decided on a few different pieces, I'll use only three as an example.

Joe Biden Bar

I found this on eBay a while back and found if funny. I believe I paid around $60 for it. Politics aside, it was one of the pieces I decided I was willing to part with to free up some cash. I ended up selling it at a loss for $50 so I could move it faster.

Sioux Nation Moon Goddess Hanwi

This is a proof round with a limited mintage of 999. It retails for $70 but I sold it for $60.

Sioux Nation Hunting Horse

This is also a proof round with a mintage of 999. Like the previous round, it retails for $70 but I sold it for $60.

The Long Game
In all of these examples, I'm confident I could've sold these for what I paid for them if I were willing to wait it out. If I waited a few years, I may have even made a slight profit from selling them. When you think you'll want or need to sell something is uncertain. We make our plans to the best of our ability, but ultimately don't know exactly where life will take us.

(Created with Bing)

Opportunity Cost
In these cases I was willing to lose out on a small amount of money now, to be able to invest more into Hive and grow it into a larger source of income later. Opportunity cost is probably the biggest variable that many don't consider until it's too late and the opportunity is gone. As an example, when the stock market tanked during the peak freakout over COVID, I took a $10,000 loss in my 401k to rearrange some investments. Once things returned to normal, the value of my 401k had more than doubled because the new investments I had gotten into were paying dividends and getting reinvested at bargain prices while the stock market was declining.

If you set aside time now to make decisions like these in advance, your future actions will be much more timely and decisive. Just realize that what you bought now, you may have to sell at a loss in order to make larger gains in the future, and in some cases you may never recoup your initial investment because there simply isn’t much demand for it.

Final Thoughts
Once you've made up your mind on how you want to handle things like this in the future, decisions will come easier and you’ll be closer to reaching your goals. Even if you're unable to sell your premium silver or gold at a profit, if you've already decided to keep it and appreciate it regardless of any increase or decrease in value, then you're already in a far better mindset than most investors.

"Success in investing doesn't correlate with IQ ... what you need is the temperament to control the urges that get other people into trouble in investing." - Warren Buffett (Source)

Do you like stacking gold and silver?

• Join us at SGS
• Chat with us in our Discord!

Are you new to Hive, or know someone new to Hive, and want help and support?

Have you been on Hive for a while and want to help new Hive members? Join HOC and help us grow Hive and encourage new members!

• Join us on Hive
• Chat with us in our Discord!