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Sold the Silly Stuff

Discussion in 'Purchasing Precious Metals' started by Argentsum, Sep 10, 2017.



  1. Argentsum

    Argentsum Gold Member Gold Chaser

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    Unloaded Palladium I purchased in Feb 2010.

    Bought at $425/oz

    Sold at $930/oz

    I realize doubling one's money in seven and a half years isn't a work of genius but on the other hand it did beat inflation.

    I may jump back in if it corrects downward sharply. Will wait and see.
     
  2. edsl48

    edsl48 Silver Member Silver Miner

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    One never goes wrong or broke taking a profit
     
  3. ttazzman

    ttazzman Midas Member Midas Member Site Supporter

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    I think your timing is good....may i ask your method of disposal....got some i think its time move
     
  4. Uglytruth

    Uglytruth Gold Member Gold Chaser

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    The rule of 72.

    The rule of 72 helps you figure out how long it will take to double the amount of money you have at a certain interest rate, with a continuously compounded interest scheme. If you have X dollars in an account and it returns an interest rate of 8%, It will take 72/8 years to double your money to 2X dollar. 72/(interest rate) to double your money with continuously compounded interest
     
  5. Argentsum

    Argentsum Gold Member Gold Chaser

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    Local coin shop. Interestingly the fellow actually had cash on hand although he did have to go in the back and visit his safe.
     
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  6. ttazzman

    ttazzman Midas Member Midas Member Site Supporter

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    Not prying but how did he pay to spot...
     
  7. Argentsum

    Argentsum Gold Member Gold Chaser

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    He didn't pay spot. Local coin shops won't pay spot for Palladium. It's the most illiquid of the metals. I believe it was actually $30 or $40 under spot.
    Big hit there and should have mentioned it; sorry. Palladium can throw out crazy pricing and the people who deal with it are quite cautious.
     
    Last edited: Sep 10, 2017
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  8. ttazzman

    ttazzman Midas Member Midas Member Site Supporter

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    100% understand just wondering what to expect
     
  9. Argentsum

    Argentsum Gold Member Gold Chaser

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    To be honest my dabbling in Palladium was something of a "hail mary."

    I'm not a Palladium expert. But I will say that it prices different then gold & silver. This could be a good thing...once in a while.
     
  10. gringott

    gringott Killed then Resurrected Midas Member Site Supporter

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    Palladium, the Rodney Dangerfield of PMs.

    Glad you booked a tidy profit.
     
  11. ttazzman

    ttazzman Midas Member Midas Member Site Supporter

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    I bought just as a distraction ....had plenty of the other metals.....glad its made a strong move
     
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  12. Professur

    Professur Midas Member Midas Member Site Supporter ++

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    Well done avoiding that boating accident.
     

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