The price of silver plummeted from an intraday high of nearly $49 an ounce less than two weeks ago to under $36 an ounce this past Friday, incurring losses of approximately 40%, but has rebounded nicely this week, prompting the question â€œIs it Time to Sell Your Silver Coins in Atlanta?â€Â
This is a good question and one that deserves further thought.Â Some economic experts, such as Mish Shedlock, believed that the price of silver had reached parabolic levels, and that it was due for a pullback.Â This opinion was confirmed shortly thereafter, with daily losses in excess of 5% until the price of silver finally appeared to hit a temporary bottom of $35.28 on May 6th.
As of this writing, the price of silver has rebounded nearly $3 an ounce, which has caused many holders of silver to wonder if itâ€™s time to sell their silver coins in Atlanta.Â While below its market high of $48.58 on April 29th, silver is still up nicely for the year and has had an incredible run over the past couple of years.
If you were fortunate enough to purchase silver over a year ago, you likely have substantial unrealized gains, and may want to take advantage of this recent uptake in silver.Â While the long term prospects of silver appear to remain strong, itâ€™s impossible to know what will happen in the short term, making market timing a risky proposition.
When youâ€™ve decided to sell your silver coins in Atlanta, we recommend that you contact Atlanta Gold and Coin Buyers, metro Atlantaâ€™s premier gold and coin dealer.Â They pay the most competitive rates in the industry, offer friendly and reliable service, and help to educate their customers so that they can make informed buying and selling decisions.