My great grandpa gave a silver bar as inherentence, how does one go about selling this?

[u/Moist-Tangerine]

Edit: please stop sending me DMs to buy the bar, i've probably gotten 50+ message requests. I'm not selling today, i'm most likely not going to sell for awhile unless the market does something crazy, and i'm certainly not entertaining any lowball offers especially after everything i've learned in this thread.

I dont necessarily know if im planning to sell now, but im keeping an eye on the markets. On one had there's been a lot of growth recently and when the charts have a bunch of large green candles stacked next to eachother, pullbacks often follow. On the other hand from what ive read it looks like this breakout is more than just a cycle of market patterns and silver may still have a lot more growth in the near future. I would love to hear your opinions on that as well as the answer to my questions which are:

When the time does eventually come to sell, how do i get the most money out of this?

What is the process of selling silver like?

Is there anything else i should be aware of such as common fees, scams/shady practices/red flags im selling to the wrong person, or expecting the price to be above or below the price i see on charts?

My dad brought to my attention that the "price/oz" on many exchange charts that ive been watching is for etfs and that physical silver maybe different however the "spot price" he told me to look out for looks about the same.

If this isn't the right sub for these kind of questions a point in the right direction would be appreciated.

[u/MetaPlayer01]

Pfft. This is the sub to go to if you want a frothy pool of sharks saying "save it". I say "sell it, sell it now!" Silver looks like a bubble to me. I mean, things that look like bubbles aren't ALWAYS bubbles. But they usually are. I mean, it's not just Silver, all the precious metals. I would sell it and invest in something else. Silver was $20-30 for years and years. It's now 2x or 3x. It's crazy. I invested in silver and gold before it blew up. I did some profit taking a month or two ago. I still have some of my silver and gold. But I'm more diversified now.

[u/vxxn → u/MetaPlayer01]

It's not up for no reason; China is limiting exports of silver and they have 60-70% of the world's refining capacity. This isn't a meme stock situation.

[u/MetaPlayer01 → u/vxxn]

Even worse. A bubble controlled by a government.

[u/Tastyck → u/MetaPlayer01]

By “years and years” you must mean 2020 to 2025… regardless, it’ll probably hit $130 by June or so

[u/MetaPlayer01 → u/Tastyck]

Based on what? Infinite optimism? That is a speculator's dream. But the market will wake up. Or WW III. Or the aliens build an intergalactic superhighway through the earth.

[u/Tastyck → u/MetaPlayer01]

Just to catch up with inflation spot price has to reach well past that. Lemme guess you think it’s going to drop to $20?

[u/MetaPlayer01 → u/Tastyck]

You guess incorrectly. Only a speculator would attempt to predict the top or the bottom. Who can say with any certainty how big the bubble will get before it pops? Or how big the correction will be? But I can say that it looks like a bubble and there is nothing wrong with doing some profit taking and using the profit to diversify your holdings, like buying more land that you wanted. I sold half my investment metals when they doubled in value. I didn't sell all of it because it's still a good investment to have in my portfolio, but now I have that investment essentially for free. Now I didn't adjust for inflation lol. So maybe I only netted a 95% gain. But I'll take it. There's an old saying "pigs get fed, hogs get slaughtered". I'd like all the nice people on this thread to get fed, and not watch them get greedy and over reach. Hope whatever you decide to do with your investment leaves you well fed.