Maybe I should not call it a "premium" but rather a "transaction" fee. A 20% transaction fee really scares me away from taking physical ownership of silver. When I can get gold or platinum for less than 5% in fees.
Silver will 100-200X+ one day when the manipulation is over. Gold and platinum will be likely be bounce 20-50X. You can pay now or lose out later.
When the banksters are no longer in control, we expect silver and gold to come to 1:1 parity. Gold was easier for them to round up and stash, thus they've made it more "valuable" even though the natural ratio out of the ground is somewhere around 10:1. Think about that.
There are over 10,000 industrial use cases for silver while there are nary 100 for gold or platinum.
The only reason the premium (transaction fee) seems high is because the price is so low. Especially for American Silver Eagles (ASEs), the premium has always been at least 10% going way, way back.
But sure, as of the last two weeks, the premiums have been unusually high. You might be able to wait it out, or you might not. Chris Marcus (Arcadia Economics) just interviewed some experts that claim 85% of the above-ground financial silver is now in the hands of the COMEX and/or JP Morgan in the form of 1000oz bars. That means the remainder of the world is vying for the remaining 15% which ain't a lot.
Bottom line, this is late in the game for acquiring substantial quantities. Stackers have been stacking since 2008, without much to brag about either. But he who laughs last...
Anyway, I agree the ASE premiums are a bit outlandish at the moment, at closer to 40-45%. But all things considered, paying $4-$6 over spot at this time is a reasonable premium considering all that's recently gone down. It may pay off for you to hold off, as this has been the case many times in the past. But now may be different. Nobody knows for sure.
My advice would be to hedge; buy half of what you think you wanted to buy now. and wait it out for a few weeks (if that's possible).
Mike Maloney coined the phrases "UnAffordium" and "UnObtainium" which is where silver is eventually headed. At some point in the future, you won't be able to get your hands on silver, at any price.
Shit, I know people who have been stacking since the lead up to 1999/2000 Y2K and are still to this day. These people are either going to become massively wealthy or they will break even if nothing happens like the Y2K dud. Their plan was never to ride up the value, although a nice side effect, it was always to have something tangible to trade when the lights go out.
Yep and even earlier of course. I recall people going to banks and buying rolls of dimes and quarters to pull out the pre-65 coins as far back as the mid 1970s. Presumably, it's been a thang since at least 1965...
You are missing my point. What I‘m saying is, The price of physical silver is being and has been being suppressed. Silver should at least be in the hundreds per ounce.
You are can currently buy silver at a HUGE discount.
Silver is more manageable for transactions nd such. Also familiar to people. Platinum is more of a gold, to a point anyway. Very expensive per ounce.
If the SHTF, then you will prefer food, water and shelter.
Not a premium when they naked short it down... for years. Knowing that, you have a buying discount.
Maybe I should not call it a "premium" but rather a "transaction" fee. A 20% transaction fee really scares me away from taking physical ownership of silver. When I can get gold or platinum for less than 5% in fees.
Silver will 100-200X+ one day when the manipulation is over. Gold and platinum will be likely be bounce 20-50X. You can pay now or lose out later.
When the banksters are no longer in control, we expect silver and gold to come to 1:1 parity. Gold was easier for them to round up and stash, thus they've made it more "valuable" even though the natural ratio out of the ground is somewhere around 10:1. Think about that.
There are over 10,000 industrial use cases for silver while there are nary 100 for gold or platinum.
The only reason the premium (transaction fee) seems high is because the price is so low. Especially for American Silver Eagles (ASEs), the premium has always been at least 10% going way, way back.
But sure, as of the last two weeks, the premiums have been unusually high. You might be able to wait it out, or you might not. Chris Marcus (Arcadia Economics) just interviewed some experts that claim 85% of the above-ground financial silver is now in the hands of the COMEX and/or JP Morgan in the form of 1000oz bars. That means the remainder of the world is vying for the remaining 15% which ain't a lot.
Bottom line, this is late in the game for acquiring substantial quantities. Stackers have been stacking since 2008, without much to brag about either. But he who laughs last...
Anyway, I agree the ASE premiums are a bit outlandish at the moment, at closer to 40-45%. But all things considered, paying $4-$6 over spot at this time is a reasonable premium considering all that's recently gone down. It may pay off for you to hold off, as this has been the case many times in the past. But now may be different. Nobody knows for sure.
My advice would be to hedge; buy half of what you think you wanted to buy now. and wait it out for a few weeks (if that's possible).
Mike Maloney coined the phrases "UnAffordium" and "UnObtainium" which is where silver is eventually headed. At some point in the future, you won't be able to get your hands on silver, at any price.
Good luck!
Shit, I know people who have been stacking since the lead up to 1999/2000 Y2K and are still to this day. These people are either going to become massively wealthy or they will break even if nothing happens like the Y2K dud. Their plan was never to ride up the value, although a nice side effect, it was always to have something tangible to trade when the lights go out.
Yep and even earlier of course. I recall people going to banks and buying rolls of dimes and quarters to pull out the pre-65 coins as far back as the mid 1970s. Presumably, it's been a thang since at least 1965...
You are missing my point. What I‘m saying is, The price of physical silver is being and has been being suppressed. Silver should at least be in the hundreds per ounce.
You are can currently buy silver at a HUGE discount. Silver is more manageable for transactions nd such. Also familiar to people. Platinum is more of a gold, to a point anyway. Very expensive per ounce.
If the SHTF, then you will prefer food, water and shelter.