Silver is more underpriced. It's also less expensive and easier for everyone to obtain. Silver is also becoming rarer, thus getting closer and closer to the value of gold. The dollar price won't matter at some point. But the value of silver compared to other commodities will matter.
Silver market is only ~1,000,000,000 oz a year, This is only ~$25billion. A rich dude could buy all the world silver himself. It's a tiny market, and we can squeeze it good! You need silver for Solar, Batteries, electronics and missles. Not much to go around!
It was tried back in the 80s, and those guys went bust. I sold a handful of change I'd swapped out of the cash register and a class ring I'd found, and I got about $250. For junk silver, they were paying 20 times face value, so a dime sold for $2, which is less than the current price of silver. I wish I still had that silver, but it was an offer I couldn't refuse at the time.
why not gold?
Silver is more underpriced. It's also less expensive and easier for everyone to obtain. Silver is also becoming rarer, thus getting closer and closer to the value of gold. The dollar price won't matter at some point. But the value of silver compared to other commodities will matter.
Silver market is only ~1,000,000,000 oz a year, This is only ~$25billion. A rich dude could buy all the world silver himself. It's a tiny market, and we can squeeze it good! You need silver for Solar, Batteries, electronics and missles. Not much to go around!
It was tried back in the 80s, and those guys went bust. I sold a handful of change I'd swapped out of the cash register and a class ring I'd found, and I got about $250. For junk silver, they were paying 20 times face value, so a dime sold for $2, which is less than the current price of silver. I wish I still had that silver, but it was an offer I couldn't refuse at the time.