PDA

View Full Version : Liquidated All My Silver!



Argentum
25th November 2008, 17:01
You heard right my friends. I liquidated everything at $9.575 on Friday. Thought you all should know as I do post occasionally, give opinions and wanted ya all to know I walk the walk.

So there it is...... :cool:

nuslvrkwen
25th November 2008, 17:04
OK. What's your next move Argentum? Surely you won't be satisfied with that big pile of worthless cash!! Money money everywhere, and not a dollar of it considered a hard asset.

Android
25th November 2008, 17:13
You heard right my friends. I liquidated everything at $9.575 on Friday. Thought you all should know as I do post occasionally, give opinions and wanted ya all to know I walk the walk.

So there it is...... :cool:


So your new footnote is:
Dollar: Atomic Number "Doh"; chemical composition "NaDa". Derived from the Spanish word "Dolor", which means "painful and worthless".

You sold too soon, buddy.

Asheron
25th November 2008, 17:15
Omg ! Big Mistake

odinmage1984
25th November 2008, 17:15
And what are you going to buy with the money? Iceland perhaps.

Android
25th November 2008, 17:25
And what are you going to buy with the money? Iceland perhaps.
Zimbabwe has a warmer climate.

silver_surfer
25th November 2008, 17:34
too bad he didnt have physical...or hes a plain idiot!!!! thats right your a idiot!!! or a liar!!! I would say both cause why would anyone beleive you when you can stick it on ebay and get 13.00 a oz for all your silver per oz....in one big lot!!!!! LIAR

Argentum
25th November 2008, 17:46
OMFG, you all came up with some good ones! Best replies ever - in fine Seeker Fashion too.

Ok, so you all know I've not given ya all the FULL truth.

Last Friday I liquidated my entire self-directed IRA of silver and I'm in process of taking delivery. So far so good and I mailed the signed forms off today. I'll let ya all know how it goes and such.

You all know I had to do that flagrant post. :twisted:

silver_surfer
25th November 2008, 17:50
ok i was thinking you might be crazy...i would sell my car to buy at that price..

nuslvrkwen
25th November 2008, 17:50
I KNEW THERE WAS A CAVIAT IN THIS!!!:) I knew you wouldn't really completely liquidate right now!

Oddly enough; you gave me the tip for that IRA and I'VE Liquidated my assets there also! I just want to buy direct at BD or my coin dealer and pay cash. I'd be able to use this IRA money in about 7 years. Makes no sense to go through all this...

research24
25th November 2008, 17:56
I murdered my wife today . . . . tune in tomorrow for details.

silver_surfer
25th November 2008, 17:59
you will see more silver bars then you could ever imagine!!! just might not be the silver i like

Argentum
25th November 2008, 18:06
The only option, in my oh so humble opinion, when you look at the numbers is that you cannot NOT Liquidate at this price (official spot).

I take the 10% early withdrawal and pay the tax. Now here is a point that I'm looking into. If my cost basis is say @13 and I sold at $9.575 can I take a loss?? This has huge potential consequences as we all know that selling on the open market can easily get you above $13. Especially when the only items in my IRA were ASE's, Maples, & JM's.

main1event
25th November 2008, 18:33
I came to this thread to call you a moron but I can see it was a sensationalist way of getting attention. LOL WTG

SkinnerVic
25th November 2008, 18:37
You know that the neighbors are going to be lookin at ya kinda funny with the Brink's truck rolling to your door? j/k

Ardent Listener
25th November 2008, 18:42
You heard right my friends. I liquidated everything at $9.575 on Friday. Thought you all should know as I do post occasionally, give opinions and wanted ya all to know I walk the walk.

So there it is...... :cool:

Don't cry to me Ar..gen...tum.

strongman shelford
25th November 2008, 19:03
I THOUGHT AMERICA WAS A FREE COUNTRY.

WHY PEOPLE CANNOT BE FREE TO BE STUPID AND SELL SILVER FOR LESS THAN 10 u$s p/oz? COME ON! FREE COUNTRY . FREE WORLD!!!:p

nuslvrkwen
25th November 2008, 19:18
I know you took possession of many ounces. Because of that spread for them being coins I don't think you'd be able to claim a loss. So are you really going to sell in the open market?

Argentum
25th November 2008, 20:38
Let me splan things to yas all better. I took PHYSICAL delivery of said silver hoard. The paperwork for taxes has to state the VALUE (official spot) of metal when removed from the IRA account. So, if needs be, I can sell a small portion on the open market to cover the taxes and penalty. However, with the metal in my hands, I am now free to move, spend, trade it at real prices. Which is far above the spot (is not). And since I truly think silver is going up, might as well pull it out when I think it is at the bottom - or at least very close. ((you all know that this means we go right down to SIX just because I did this)) But at least I warned ya!

Nusl, ya, didn't figure to get that past ya especially after all the talking we did. And I'm not sure if I can claim a loss. But everything is documented for investment purposes and if they where stocks I sure as hell would take a loss.... but we shall see.

Main, it was a bit of sensationalist... but I think this is a good thread to tell folks that they need the metal held in hand. And heck, with 50 new threads by YOU I need something to stand out :P ((lol keep them coming - I do read 'em))

Skinner, it is going to be one hell of butt load of silver! Some five thousand ASE's alone.

That was a good one Ardent! Another quick Silver Tongued one.

Strong, and thanks. He's right (unfortunately) it's not illegal to be stupid! Can always count on you holding the flag high.

augernaut
26th November 2008, 06:22
I thought you could only have 10,000$ in metals in your IRA????

Greaves
26th November 2008, 08:45
ok i was thinking you might be crazy...i would sell my car to buy at that price..

Haha good post. :D

Argentum
26th November 2008, 09:12
Augernaut, there is no limit as far as I know. In fact, there is no limit to your contribution either - but most folks don't know this. An IRS special unit director taught me a hell of a lot as I worked for him doing other tasks.

nuslvrkwen
26th November 2008, 12:30
BOY WHAT A HORDE!!! ARGENTUM - THE BANK.

Ain't it a grand feeling? Knowing you can lay your hands on YOUR OWN MONEY. When you have to sell you make MORE in not spot price 'profit' than you would if you actually SAVED THE DOLLARS in the bank!!! :p AND the 'tank' was PAYING 7% or more in INTEREST!!!

I can not understand why someone with more than one 1000 oz bar would NOT mint their own 'art bars' or whatever and SELL on the open market! You'd make a fortune if the bars' designs were unique and the weights were comparable to ASEs. OTHERS who already have silver would buy these 'unusual' bars.

Argentum
26th November 2008, 21:01
I'm just small potatoes. And I still feel like I've missed the boat. As a side note I've left the gold in the account to trade the gold spike when it comes - then swap down to silver to catch that ride. If and when the DEX gets "attacked" it will be with gold bullets first - from the big boys. Then silver will follow. So have your surfboards ready. That's my plan and I'm sticking to it. The cool thing is that if nothing much happens, I still have silver in my hand at what would appear to be solid bottom....