Last Thursday, as silver was hanging out in the $47-48 range, I decided to call APMEX and sell of some of my 10 ounce bars, which had been bought mostly for investment purposes.
A few different things spurred my timing, one of which was the price. While the price had climbed rapidly and flirted with $50 once or twice, it had been hovering for a day or two. If profit was my motive, this felt like the time to sell. In addition, we just agreed to rent a new apartment starting at the end of May, meaning that for June we would be paying the mortgage on our house that won’t sell, rent on the apartment we are moving out of, AND rent on the townhouse we are moving in to.
Oy vey.
Oh, and finally, there is a gun show in Pasco this weekend, AND I am going to the Ducks Unlimited Auction/Banquet next Friday night, AND my birthday is rapidly approaching.
I took it all in as a sign.
A week later, the price of silver has fallen off(I guess the correct term is ‘corrected itself’) and come down $12, to the $35 range, and I look like I have amazing timing.
I don’t think it’s permanent…if it falls back below $30 an ounce, I intend to buy some more.
In the meantime, I’m looking forward to having a swell time at the gun show this weekend. Firearms wise, I wouldn’t mind finding someone looking to profit off a PMR-30, or a .22 Kadet conversion kit for my CZ-75…or a PTR-91. Other than that…the jones isn’t that bad. I’m not going to buy something just because we have cash in hand from the silver. I would be just as happy to have another 50 pounds of ammunition on hand.
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