Investing in precious metals 101

Selling off some of your stuff?

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  • Wed, Apr 08, 2009 - 11:54pm

    #1

    SagerXX

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    Selling off some of your stuff?

With apologies to the late great George Carlin (man I miss him — I was in Vegas the week before he died and remember looking out the window and seeing his name on a marquee, saying "Dudes, we should totally go see Carlin!"), are folks here selling/getting rid of Stuff as part of a simplify your life / slenderize your monthly nut strategy?

Tomorrow I’m selling my 1991 Nighthawk 750, which I own outright, as I have better things to do w/that $ than let it (mostly) sit in the shed and get older.

By next week I may have sold my Dodge Dakota pickup, which I dearly love but cannot justify keeping (it’s our 3rd car and I use it for snow days [it’s a 4×4] and Hauling Stuff Around).

And next month we’re doing up a big honkin’ yard sale.  Basically going to try and sell off everything we own that we don’t use (with exceptions for sentimental value [although some wedding gifts we will be happily getting rid of <smile>]).  

Between these three things we’ll cut our monthly nut by about $500 and raise more than $2000 — which’ll go a long way towards things w/higher priority in the current situation.

Anybody else?

Viva — Sager 

  • Thu, Apr 09, 2009 - 01:15am

    #2
    Peak Prosperity Admin

    Peak Prosperity Admin

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    Re: Selling off some of your stuff?

Yep.  Sold my 2004 Chevy Colorado about three weeks ago.  Keeping my 95 Honda.  Also planning a garage sale to get rid of as much junk as possible. 

  • Thu, Apr 09, 2009 - 01:21am

    #3
    Peak Prosperity Admin

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    Re: Selling off some of your stuff?

Yep, getting rid of lotsa stuff. 

Craigslisted a bunch of old bar equipment from my business.  Had most of it go in the last few weeks.  Selling items on eBay (collectible alcohol memorabilia like tap handles and promotional items).  Next I’m starting on billiard supplies and dart supplies.  I figure it will take about 4 months to get rid of the most of it.  The world war two collection of DI’s and patches will be next, but I can’t quite bring myself to part with the Aviator wing collection.  My wife and kids won’t let me sell the ’78 CJ 5 yet, but I’m working on them.  It’s hard to part with now that it’s spring and were finally seeing some sun here in the Pacific NW.  Now that copper is back to $2.00 per pound I’m taking the collection bin back to the scrap recycler along with the aluminum, brass and stainless steel.  Just a bunch of nickle and dime stuff but I really like the reclaimed space in the shop.  I usually stop at the coin shop on the way back from the scrap yard and turn the proceeds into PM’s.  It’s like a magic wand turning junk into coin.

  • Thu, Apr 09, 2009 - 01:57am

    #4
    Peak Prosperity Admin

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    Selling off some of your stuff?

I’ve never been much of a packrat, so I don’t have much to sell that I don’t use.  But it’s interesting that we’ve been getting a lot of out-of-the-blue offers for our old 1983 GMC pickup.  She’s on her 3rd engine and 2nd body, and still going strong.  She’s usually just parked, except in the winter, when we use ‘er to plow the drive.  Years ago, we gave her a forest green paint job, so she’d be inconspicuous parked under the Austrian pine.

I’ve always had this gut feeling that we could see hard times before our lives were over, so I resisted selling the old GMC, because it had traditional carburetion, no fuel injection, and no computers.  So, we should be able, with the help of a friend’s lift, to do all the maintenance ourselves   (Hubby swapped out engines #1 and #2).  And without the GPS, and other monitoring equipment, it’ll take more effort for big brother to look over our shoulder . . . .bonus!  

Anyway, it seems that other people are starting to recognize the value of older, simpler vehicles.  I seem to remember something about the loving care given to >20 year old vehicles in Cuba, after they no longer were readily available from the U.S..

  • Thu, Apr 09, 2009 - 02:31am

    #5
    Peak Prosperity Admin

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    Re: Selling your scrap precious metals-try here!

I just sold a bunch of scrap sterling spoons, dental gold, and gold-filled stop watches. The good news is I think this guy is honest, he’s been around a long time, and you get (if I remember the flyer)  95% of spot (gold) at time they smelt it. The bad news, for me, is that gold-filled stuff is worth almost zilch; you need real karat gold. He buys gold, silver, platinum stuff in any condition.

 

http://www.midwestrefineries.com

 

SG

  • Thu, Apr 09, 2009 - 02:47am

    #6
    Peak Prosperity Admin

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    Re: Selling off some of your stuff?

http://www.garfieldrefining.com/

I have a few cleints who are goldsmiths/jewelers…..this is who they use. Personally, I’d wait a bit Money mouth 

  • Thu, Apr 09, 2009 - 03:09am

    #7
    Peak Prosperity Admin

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    Re: Selling off some of your stuff?

I’m out of gold trinkets unless I pull a few teeth. 

Your guy pays more than 95%?!

 

SDGT

  • Thu, Apr 09, 2009 - 03:11am

    #8
    Peak Prosperity Admin

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    Re: Selling off some of your stuff?

I think I was ahead of the game. Sold ALL my stuff in 2003. Everything I own fits in a backpack. It has been good practice for WTSHTF.

  • Thu, Apr 09, 2009 - 07:11am

    #9
    Peak Prosperity Admin

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    Re: Selling off some of your stuff?

[quote=Worker Bee]

Yep, getting rid of lotsa stuff. 

.  Now that copper is back to $2.00 per pound I’m taking the collection bin back to the scrap recycler along with the aluminum, brass and stainless steel. 

[/quote]

Worker Bee  – DON"T DO IT !!

Don’t you see that things like these metals are going to rise significantly in price in future times.  With oil skyrocketing, how are they going to refine it ?  And if they do, how much do you think it will cost then ?  No, scap metals, especially copper is a very good thing to hold on to for future cash, or trade. 

The best way to store it is to just bury it.  It won’t corrode and is very safe when it is valuable.  When the scrap price skyrockets, just dig it up ! 

  • Thu, Apr 09, 2009 - 07:19am

    #10
    Peak Prosperity Admin

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    Re: Selling off some of your stuff?

You guys, the idea is great to convert crap in to cash now.

But be careful what you call crap.  If there are shortages on some commodities, you will be surprised what has more value in the future than now.

For example, I don’t recycle any more.  I keep all my glass jars and lids and some plastic bottles.  Where else am I going to get them if there is no supermarket ?

Along the same lines, what I am trying to do is go around garage sales and BUY stuff I think will be scarce or have value in future.  Second hand clothes, bedding, storage containers, and other almost free stuff.  I have to store it but if I don’t use it in future I will be able to easily trade it.

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