I'm a stacker. I'm constantly looking at silver and gold prices, the spread, inventories, premiums, derivatives in SLV, etc, etc.
The obvious trend since SVB went down was a move to towards safer assets, let it be a "too big to fail bank (lol)", government securities (lol), and precious metals. Premiums on 1 oz silver rounds (generic) are nearly $5 anywhere you look. My local coin shop (LCS) was charging $4.75 per ounce over spot on generics, which is actually lower than the vast majority on JM bullion and SD bullion.
With silver spot being 24.25 as we speak, a $5+ premium is nearly a 20% premium on the price. Higher premiums almost always mean high demand and low supply. Inventory on the comex is dropping at a pretty staggering rate (277 million oz left) and the entire comex could be drained with a mere $6.6 billion dollars.
My LCS said it's been insane since the banks began to fail. Way more buyers than sellers.
The price of silver specifically has been artificially suppressed by the big banks through derivatives and artificial contracts traded amongst the big banks. As inventory continues to drain, the dollar falls, BRICS grows it's membership, and uncertainty remains, precious metals SHOULD skyrocket.
Ultimately, I don't invest in PMs are a get rich quick scheme, but they really are a great store of value. Not investment advice, but holding silver and gold, while you can still get it, could be an answer to rapidly rising inflation.
I'm with you on that. I NEVER saw my silver as an "investment" in the sense that I would buy low and sell high. If I did that, I would just be exchanging silver for a larger amount of fiat (worthless) currency.
Nope, my silver was put away, safely, and "forgotten about" against a time of financial crisis when the dollar fails and silver (and gold) are the only means to buy needed things like food and gasoline.
It also helps to have sufficient lead to protect said silver and gold. Just sayin'...
I'm doing the same thing. I got a $5,000.00 unexpected bonus from work at the end of the year. I bought $5,000.00 worth of silver coins for my "just in case" stash. Wasn't expecting it so I didn't miss it.
Where do you buy silver coins?
I bought mine at https://www.jmbullion.com/silver/
Depends on where you are, but search your local area for a silver dealer. If you’re in Canada I’d do a search for a Royal Canadian Mint authorized reseller, or you can go to a major bank (and pay a premium). I’m sure most countries have something similar.
silvergoldbull.ca, colonialacres.com, canadianpmx.com, thecoinshoppe.ca
For the leaf stackers
There are pros and cons for where you buy. If you buy online you will have to use a bank account or credit card to make the purchase (with a large fee added to CC purchases), that of course is all traceable, so whatever you purchase will be known. If you buy from a local coin shop (LCS), you can pay with cash and remain anonymous. The problem I have with my LCS is... I only have 1 near me (other than pawn shops, but those are usually ripoffs). He has the best prices but very little selection. He usually never has what I am looking for. I will go in looking for gold and he will only have silver rounds. Sometimes he doesn't even have much of that. But he is typically considerably cheaper than the online guys (and non-traceable!). And you get to leave with your metals. Online stores can take a week or more to ship out your purchase and then you have to be home to sign for it.
The online stores have a huge variety and usually have stuff on sale. I (unfortunately) usually end up going there to make purchases, because I can put in an order 24/7, I can buy as much as I want and almost always exactly what I want.
I put in an order when the bank failures started a couple weeks ago and when I got my order, the package had been opened and silver was missing! I had to make a police report and hope that everything gets resolved :/ This is a major drawback to ordering online, but everything is insured by the seller, so now I am just waiting to see what happens. I have made many orders in the past, and this is my first issue like that. I really hate a thief!
Ya, I don't rly wanna buy online...no trail. So just search for local coin shops near me? Pawn shops last resort?
Yes, look for "coin" or "bullion". Find some local places and give them a call, you can ask over the phone what they are selling "silver rounds" for.
Most local shops are very friendly and should be willing to talk to you. Now, they might be a little short with you over the phone if they have customers in the store, so ask when you call if they have time to talk or what would be a better time to call. But you should be able to get a feel for the dealer, if they sound trust worthy or shady. There are shady dealers out there, that is why I say call around and get some prices. And prices do fluctuate, so you might not get the same price when you actually visit the store (spot price went up over a dollar yesterday!) and the premiums they charge go up as demand goes up. (the premium is the price they charge above the spot price). Right now spot price is around $25 and a typical premium is around $5 per ounce for generic rounds. The premium on silver eagles is $10-$14 above spot right now, so I would not recommend eagles - you will get more for an eagle than a generic round if you were to sell, but it will take a long time to make up $14/ounce!
I would recommend calling around (call the pawn shops too, you might find one that is reasonable, but they are typically $5 or more, more expensive than a LCS). See what the prices are, look at the online stores (JM Bullion, SD Bullion, etc.) and see how their prices compare. Usually your LCS will be a dollar or 2 cheaper than the online stores.
And then chose a couple stores to visit in person, get a feel for the dealer. They are usually like minded, patriots... willing to spend some time talking to you, explaining how the precious metals market works.
Check out some youtube videos as well, a lot of the silver channels actually go to their LCS's and talk to the owners. Yankee Staking, Spegtacular, Vermillion Enterprises (a LSC owner, that talks about premiums and what is going on), Silver Seeker... those are a few of my favorites.
I get mine at moneymetals.com
I use JM bullion because of the military discount I get. If JM is high, I'll check out SD bullion. I try to use my local coin shop and much as possible and have a good relationship with them.
What about other metals? I bought a little platinum, but also a roll of lead (from home depot) & I'm thinking of maybe getting some tin & copper. Metals we might need if things go down
By "lead" I was referring to ammunition.
Kek
All metals are a good store of value because they are used to actually make things.
For example, copper is great because it is the primary tool for electric power transmission. Or it is the primary metal in bronze, or a thousand other uses. Same for all the other metals, including platinum. Each of these elements have unique properties that people have found use for, some more than others.
Iron is probably the most useful, but also the most plentiful, so its not necessarily the best investment unless you plan to actually use it yourself.
Because we live in an electric world, silver is probably the most useful v. the amount available (not to mention it's "beauty" properties). Copper is up on the list as well, mostly because it has similar (albeit inferior) properties to silver, without being as rare. Tin, nickel, lead, titanium are all very useful. Aluminum as well, but that is the second most plentiful so it falls into the same category as iron.
Basically, imo, you can't go wrong with any metal asset. All are worth far more than the volume it takes to store them. All of their values will go way up if the SHTF.
Agreed. Even nickle can land you a nice plus.
few years ago, saw copper bullion at good price, so spent $50 for 10 x 1lb blocks...NOW that price for same thing is around $250...
I like the full metal jackets to protecting the metals.
Yea you've gotta be able to protect what you've got. I'm far more leveraged in brass than PMs.
👍
Why not just put it in a vault?
Exactly what I've done.
And a supply of Led Zeppelin.
Edit: 1 and 2 preferably.
Silver up almost a buck in the past hour.
https://www.kitco.com/charts/livesilver.html
Clif high has mentioned $600 an ounce for silver. That'd be the day..
I just wonder what $600 will buy when it gets to that level. 8/1-16/1 should be the difference between gold and silver as a ratio. Not 80+ oz of silver to 1 oz of gold. Silver comes out of the ground as a biproduct of other mining at a ratio of 8 ozs per 1 oz of gold. Silver is the best conductor of electricity and is also a monetary metal. It's honestly a straight up value play.
The same thing that it will buy now, approximately.
At least for gold; if you look throughout history, one ounce of gold today will buy you pretty much the same things it did 100 years ago, 200 years ago, and even further back.
That’s the whole point of precious metals is that they are a store of value; they protect the wealth that you have earned.
At least that’s my humble understanding. :-)
That's what I see people failing to understand. 1oz of gold will always be worth 1oz of gold. It only appears to skyrocket in value when compared to a devaluing currency. It's not the gold going up, it's the value of your wages going down.
This isn't entirely accurate. In the 19th century you could buy a brand new custom house for about $1000 (or less, but its in the ballpark). This was the ballpark cost of a brand new custom house for the entire century (all the way up until 1913ish). That works out to about 40 ounces of gold (by the measure of .0437 oz of gold per U.S. dollar per the constitution).
Gold price today is about $2000. So $2000 times 40 is about $80,000.
Good luck getting a brand new custom home for $80,000.
Looking at silver, in the 19th century it would have taken about 770 ounces to buy a house (which was already substantially undervalued). Today those 770 ounces are worth about $20,000. A few weeks ago it would have been closer to $15,000.
Metal is NOT storing it's value in a straight line. On the contrary, it has been manipulated to all hell. Of course, so has the housing market in the other direction (and other major purchases, like cars, health care, education, etc.), so gold may actually be about right if not for purposeful increase in the cost of life's "major purchases." Silver on the other hand was already undervalued in the 19th century (purposefully, by the bankers who contributed to the constitution which set the value), and is undervalued even more now.
Interesting to use a decreasing in value currency to compare. ...
In my region we have started doing business in silver. Farmers, bakers, that sort of thing, accepting silver. And I do too, for the work I do.
Granted, it is not yet perfect, due to the CB manipulation of money, but we are working on comprehending value for goods and services over historic time, while we move slowly towards loosening ourselves from the system.
And, I hear, quite often, people saying: it feels good to pay with value, instead of monopoly money.
It is an apples to apples comparison. It is the purchasing power of what you can buy in gold or silver now, v. the purchasing power of what you could buy in gold or silver then. The dollar association is a bookkeeping term and a number that people understand intuitively. It has nothing to do with what I was showing, which is how much purchasing power gold and silver have retained in the market over time.
That is awesome.
Couldn't get a cell phone for all the gold in the world 100 years ago /js
But yeah, I figured there's say 200K tons of gold that has been mined so what's that about an ounce per person? To be safe, I'd like at least that much but probably more than that. For silver it's more like 7 or 8 ounces per person
It's status as an industrial metal is why it's price is so deliberately suppressed.
colloidal silver is making a comeback, medically...silver cream for burns is the best, too!
My neighbor's kid had a black tooth because it was infected. I thought for sure he would have to hit the antibiotics. I guess he was getting some drops on it every hour or two. Seems like it worked.
I was looking colloidal silver up and found this video from Dr. Berg and he mentions how it can treat a tooth infection among many other things. Says it's been around for over 125 yrs. In 1938 it was used as an antibiotic, over 650 pathogens it can kill:
https://www.youtube.com/watch?v=AiUJ4zxBUgw
Just be very careful with the dosing, Argyria is a real thing.
Loaf of bread 600 dollars! yay!! My silver is finally worth 600 dollars an ounce!
Gold is useful, but with our current technology, silver is in general more useful because of it's electric and thermal properties which are unmatched by any other element. The value of silver would be, in a truly free market, at worst 8/1 with gold. Possibly more like 5/1, though if it is too expensive, alternative (inferior) products would be forced to take its place in technology (like copper).
Regardless, as for bang for your buck, I can't find any physical asset that is more valuable in potential volume/value/current cost than silver.
historically somewhere between 7 to one to 15 to one. Silver is way too low these days because central banks base their worth on gold not silver. Same reason why platinum is 1/2 the price of gold these days. It always used to be worth MORE! That's why the platinum record mean a bigger thing than gold
The world debt clock has silver pegged above $5k/oz in relationship to all dollars printed.
Thirty thousand gold
That would be an understatement. Even @ 150 an ounce, it would totally wreck everything.
Silver Eagles are 60% over spot
In my country: current silverprice: 22.74, but the SIlver Eagle I is 43,15. 90% over spot. The Silver Eagle II is even worse ....
For the orther numismatics Like Maple, Brittania, Philharmoniker ex Mex. Libertad, the premium is around 7,50 over spot up from 6,50, up from 4,50.
I guess inflation is hitting PM.
Can someone please explain like I’m a golden retriever what the COMEX has to do with silver that I buy from Bold PM’s, JMB, APMEX, etc?
COMEX (NY) and LBMA (London) set the price of silver. If they run out of silver, then they can't do that anymore.
What's stopping a silver mine from selling direct to the public / market? How can they create & maintain a global cartel / monopoly on gold & silver?
Any mine or dealer can sell to the public. Comex / LBMA can maintain a global monopoly only because they are the biggest. In 2016 it was 90B oz in Comex and 50B oz in LBMA (source).
The monopoly is only a price monopoly. But once Comex / LBMA silver runs out, then so does their monopoly. No one's going to care what they set silver paper contracts for; it's the mines and dealers that will be setting physical prices.
If they are a monopoly, which means they have some sort of control over the mining of precious metals, how would they "run out"?
I'm honestly trying to learn because I've been interested in PM's for a couple years but can't wrap my head around how the COMEX works.....
When the silver inventory is depleted you’re going to witness the most blatantly corrupt financial shenanigans you’ve ever seen. The financial institutions can’t acknowledge the true value of silver, so they will refuse to reprice it and you’ll continue to see the spot market and paper SLV trade at about $25-30. Meanwhile it will be impossible to buy physical silver from a financial institution and people will only be able to get it on the street for hundreds of dollars an ounce. This disconnect will be plainly obvious to the most asleep of the normies as they try to join the herd in a panicked rush to secure bullion when it’s clear to everyone the dollar has crashed and the banks aren’t honouring their paper obligations.
Bingo
Bitcoin is gay. Silver and gold shall end the fed.
100% agree. I was never going to sell my gold or silver back into the fiat system. It isn't going anywhere but in & out of my safe.
I’ve got nothing to contribute other than a high-five to a fellow stacker.
What happened? Silver just blew up all of a sudden.....
Apes have been buying whether the price goes up or down. Now they’re almost out and industrial demand and ape silver hoarders are still steadily draining the metal.
Raising its price might hopefully slow down industrial demand but it’ll just get the apes running around buying more like raped macaques. Drop the prices though, and apes will just buy more discounted silver, like a bunch of chimped out primates.
It is the Samson Option!
Yes, it will inflict ultimate destruction on the most deserving entities. Yet, it's also nonviolent. Very "the plan"-like, imo.
Just got off the phone with my local coin store….10 silver dimes for $100.00. Copper clad lead maybe be a better choice?
Are we talking pre 1964 dimes? That's an insane price.
My mistake…. It’s 10x face. So 10 bucks worth for $100.00.
This is why I’m all in on official Donald Trump gold doubloons (with certificate of authenticity of course) 😏
Just pay S&H?
I can get it for less than that but you got to go there in person with cash (less than $10k)
Just a little useless trivia for my fellow silver collectors. Prior to the industrial revolution, silver maintained its appearance throughout its use. It did not tarnish and was associated with the moon, whereas gold was associated with the sun. Throughout history these two precious metals were viewed with mystical power. Silver only began to tarnish following the release of high amounts of sulfur into the atmosphere. It is the level of sulfur that dictates silver tarnishing. And for gold, there is a disease called Wilson's that causes a person to accumulate high levels of gold in their system. It causes a halo of gold around the iris of the eyes in certain light along with some pretty crappy symptoms.
copper, not gold
Oops, you are right. It is copper accumulation that causes Wilson's disease. Thank you for the correction and the reminder
I'm hoping that MOASS happens before the precious metals run out but at the rate things are going I'm not sure it's going to happen. I really would like to take my earnings from GME and reinvest it into PMs unfortunately it seems likely that the dollar is going to go belly up before we ever see a dime from MOASS.
If they show 6B in inventory, half that then do it again when the run on paper gold starts.