Silver down-just bought some more

User Forum Topic
Submitted by moneymaker on December 11, 2015 - 7:50am

Houses up, silver down. No brainer just bought some more SLV. As energy goes down it is cheaper for miners to process the ore and in general they should be able to operate in the black. Of course with higher silver supply, prices in theory go down, so we will see I guess.

Submitted by Coronita on December 11, 2015 - 7:55am.

with the markets behaving the way they are behaving,i am sure glad i took money out of the market and paid off most of my mortgage. Paying off 2.5% is still better than taking a -xx% which is most likely would have happened to me.

I can't wait until I'm debt free again...Then I'll just wait and collect my paycheck and rent checks until the next great opportunity, whenever that will be.

Submitted by moneymaker on December 17, 2015 - 8:36am.

Just bought some more SLV at $13.04, lowest price for silver in a while. Lowest since 2009

Submitted by The-Shoveler on December 17, 2015 - 8:47am.

Gets below 10 I think will buy a another small amount, bought a little at 15 (was not a good Idea in retrospect).

The thing I like about Silver is it is a industrial metal as well as a paper money panic metal.

The thing I don't like about Silver is it is a by-product metal (they get it from copper and iron mines and sell it for a few extra bucks).

Submitted by livinincali on December 17, 2015 - 9:01am.

Problem with silver is the last time it went into a bubble it sat around $5/oz for a couple of decades after the bubble burst. Silver might have a solid floor at 10 or something this time but I don't know that it has a bunch of upside either.

Submitted by scaredyclassic on December 17, 2015 - 11:01am.

Many believe it will be $100 /oz. Within a generation.

Submitted by moneymaker on December 18, 2015 - 12:06pm.

Yeah, you might be right, maybe I should cancel my sell order for $15 and change.

Submitted by moneymaker on May 24, 2016 - 5:55am.

So i did sell my paper silver and made a few dollars per ounce/share, just realized though that when I sell my hard silver bullion I will not have to pay taxes on the gains. Am i missing something or is this a really good way not to pay taxes on gains. Know I will pay transaction fee but that will still be less than income/capital gains taxes. I bought at $1 over spot and will sell at 75¢ below spot hopefully.

Submitted by Coronita on May 24, 2016 - 6:00am.

moneymaker wrote:
So i did sell my paper silver and made a few dollars per ounce/share, just realized though that when I sell my hard silver bullion I will not have to pay taxes on the gains. Am i missing something or is this a really good way not to pay taxes on gains. Know I will pay transaction fee but that will still be less than income/capital gains taxes.

Well, you are suppose to report your gain. Just like you're suppose to report sales tax for internet purchases.

And, if you leave such gold/silver/bullion to your kids, you're suppose to report that as part of your estate.

Yes, you're suppose to do all of that....

Submitted by HLS on May 24, 2016 - 8:34am.

If you are happy taking profits and want to create income from SLV position, are you familiar with selling
covered calls against your holding ?

SLV 15.50 at the moment
July 15.50 gets you 66c
July 16.00 gets you 45c
53 days from now

January 16.00 gets you $1.25
242 Days from now

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.