Not at Peak, But Not Terrible

I considered selling a little silver when it was trading at ~$120 per troy ounce in late January, but didn't really see any financial need to get rid of any -- and I also heard that retail shops were paying 30%, rather than the usual 20%, below spot price (presumably because they rationally expected it to peak and fall relatively quickly).

Today, however, I knew I was going to be near a shop that buys/sells precious metals, and wanted a little mad money for a trip I'm taking soon. So I walked in and sold a 5-ounce bar for $280. $56 an ounce. Spot was just below $75, so I got about 25% below spot.

No complaints -- I think I paid a little less than $30 per ounce for it a couple of years ago, so I made decent money on the deal. But I'll probably not touch the rest of my stash for years. It's really intended as a long-term rainy-day-after-retirement thing, not as a frequent trading asset. This is the first time I recall selling any since the 1990s. These days, when Bitcoin is way up and silver is low, I use the former to buy a few ounces of the latter and put it away.