1 Answers: If I have debt, should I sell off my precious metals?
I have roughly $7k in credit card debt. I make more than the minimum payment, but 1/2 of my payment each month is just the interest.
I also have about 200 ounces of silver. I know the metal is down in value right now, but someone is offering me $15 an ounce so that could be $3000 towards my credit. But my concern is silver finally spiking again… but of course I have no clue if or when such a thing will happen.
Should I hold onto my silver or focus that asset towards my debt?