Silver

[DMCakhunter]

And as the dollar is supposedly getting stronger, price of PM's decreases in dollars.

[JohnyMac]

Keep in kind that BRICS is making their move now to upstage the dollar.

I read somewhere, (to lazy to find it and share) that the only thing that came out of PoopyPants visit to the Emirates was to be told that the US Petro Dollar will not be accepted anymore.   

[pkveazey]

Uh Oh..... In my last post, I mentioned that I wasn't sure if I was going to buy any more Silver. Damn!!! I just watched a Video that was posted by a fellow that sells massive orders of Silver and Gold. OK, before I go any farther, I'll just say that the people who know how to make money always say that you should watch what the rich people do and then do the same thing that they do. Anyway, this dealer said that a woman just ordered $50,000,000 in Gold and Silver. She was more specific than I would have been but everybody has their own tastes. She wanted Junk Silver, Silver Eagles, and pre 1933 Gold. Well, she paid a much higher price and premium for the Silver Eagles than she would have for generic Silver or Bullion. I'm not sure that was the best move because as far as I'm concerned, Silver is Silver and I don't care if its a particular piece. I guess that I'm back in the buyers line and will continue to buy more. I already knew that the BIG BANKS have been buying a ton of Physical Gold and Silver but this has now moved into the ranks of the ultra rich folks getting in on it. That is a huge signal to me that they know something and are starting to protect themselves. Even though I told my sister not to sell her Silver, she still wants to move it. I'll be carrying her a price sheet of bids for all the proof sets to date. I'm not at all interested in the Proof sets or Mint sets. While I'm visiting her, I'll buy whatever 999 fine Silver that she wants to sell me.

[RB in GA]

Just my take on part of what you said PK. I'm just not sold on the "silver is silver" idea. If I'm going to take silver in trade I'm going to be looking for eagles, maple leafs, Britannicas and philharmonics. Junk silver too. I'm not going to be looking at an XYZ mint, because because they are unknowns to me, while I'm going to be pretty sure of US, Canada, UK, and Austrian government mints.  I dont have a fisch to test silver coins to determine purity, so I'll probably do the ice or bleach method if I take something I find questionable. There undoubtably already are counterfeits out there, but at least if I stick to the established national mints I'll be able to compare to pre-SHTF pieces.

[Nemo]

the ice or bleach method

Details on those please.

Nemo

[pkveazey]

Yea, Nemo, I was wondering about that also. I use the magnet slide test and I weigh every piece I buy. Also, I only buy from one very reputable place. I know that Silver has a temperature conductivity property but the Bleach thing is something I know nothing about.

[RB in GA]

Ice Test
This is an easy and inexpensive test to do- all you need is an ice cube.

Silver is a good thermal conductor. So if you put an ice cube on top of your silver item, then the ice cube will start to melt quickly. An ice cube placed on silver will melt quicker than on iron and a little quicker than on copper.

The easiest way to conduct this test is to place a real silver coin and a potentially fake silver coin side by side. Put an ice cube on each coin and then check to see how quickly each ice cube melts.

https://www.silverrecyclers.com/blog/how-to-test-silver.aspx

Bleach causes silver to tarnish. Don't use this on any jewelry or silverware unless you have a way to clean it rapidly

https://www.youtube.com/watch?v=KJl7QmTMoI8

https://www.youtube.com/watch?v=EX975cDOPlQ

[pkveazey]

Well, as of 2 AM on 10/4/2022, Silver jumped from about $19 to $20.89 in a day and a half. I think they'll slam it one more time but then lose control and it will take off like I've been hoping. I'm seeing a ton of posts about economys all over the world going nuts. I truely think this a Red Fox moment. "This is the big one".

[pkveazey]

Well, I've been expecting Silver to make its big move but the Silver market seems to have gotten a bit constipated. The last couple of days have started to look pretty good. As of right now its Spot Price is about $23.30 an ounce. From what I've seen lately, people are getting pretty nervous about the economic situation and they are running to Physical Silver and Gold. A lot of dealers are either running out or having to wait a long time for their orders to come in. Meanwhile, back at the ranch, I'm just sitting here waiting for the explosion.

[grizz]

Gold was up to $2010/oz earlier today

[JohnyMac]

Grizz, second time since the SVB failure.

Tom Luongo over at Gold, Goats & Guns along with Martin Armstrong predicts the the new Gold ceiling in the next 30-days will be $2,100- an oz. They also feel that we will see a few more bank failures in the next 30-days which will fuel the gold rise.

Bottom-line, banks have made 3 and 5-year business plans on Fed interest rates at or under 3%. They are coming up short paying back the Fed with interest rates north of 6%. That is why the Fed only raised the rate by 25 Bpnts this past week.

Really, simple...If the Fed raises interest rates to pull money out of the economy to help lower inflation, more banks will fail. To not raise interest rates, inflation will continue north. There is a silver bullet if the politicians in D.C. go along and that is freezing the Federal Budget at lets say 2020 levels, and then hold it there for 5-years or so. Reducing it by 2-3% a year would even be better but you know that will never happen.

Stay tuned,

 

[pkveazey]

Well, I've been waiting and waiting and waiting and waiting for Silver to move up and every time it moves up, the BIG BOYS(Banks) slam it right back down. Now, that BRICS is firing up and lots of other countries are trying to join, things are getting serious. BRICS says it will be backing its currency with Gold and Silver. That completely changes the game. Now with all the bank failures, I think the rising Gold and Silver prices will continue to rise, with slight ups and downs,  until Silver actually reaches a figure that is close to its true value. People are starting to get scared and are rushing to Coin dealers to buy Silver and there just isn't any to be had. I've been into Geology since my mid 20's and have known for a long time that there is a 9 to 1 ratio of Silver to Gold in the Earth. Silver should be selling for around 10% of what Gold sells for. Hmmmm..... Gold is at $2000 an ounce. Why isn't Silver at $200 an ounce? Actually,. Silver should be even higher since it gets used up in Industrial applications like solar panels, etc. When things get really bad, you'll be able to ask whatever price you want for your Silver. No matter what anybody tells you, you should just remember that 10 to 1 ratio and use that as a minimum.

[Deathstyle]

Silver manipulation. I actually believe silver will be worth more than gold when all is revealed. I think they are still finding gold mines but zilch on new silver mines.

[pkveazey]

Well...... I couldn't stand it any longer. I bought some more Physical Rounds today. I've been waiting for the BIG BOYS to slam the price of Silver way down and then run in and buy all the Physical Silver they can get their hands on but its been hovering around $24 an ounce for too long. I think that's about as low as its going to go. Now, I'll have to wait a bit and see if it goes to the moon in the next few months. When I went into the dealers shop today, I showed him my free App on my phone called PINGCOIN. I've been using the weight and sliding magnet test in the past but the PINGCOIN app tells you by the sound it makes if its real or not. I got him to pull out a Kangaroo and a Buffalo round and plugged in the Kangaroo first and held the kangaroo between my thumb and middle finger nails and thumped it and the thing said "AUTHENTIC". Then I set it up for the buffalo and did the same thing and it said "AUTHENTIC". He was so impressed that he wrote the name of the APP down so he could download it and use it in his shop. It sure beats the Hell out of paying a couple of thousand bucks for a Gold and Silver detection machine.

[pkveazey]

I forgot to mention that while I was at the Coin Dealer, I asked him if Silver was getting harder to get. He said it was really difficult to get right now.

[pkveazey]

Well, I figured I had about all the Silver I needed and then "WHAM" they slammed the price down about $1 per ounce. Yep, I grabbed a bunch of money and took off to the coin shop. They made me buy some more. I didn't want to do it but when they slam the price down when you know it's going to spike up, you just have to do what you have to do.

[pkveazey]

Wow! They are still trying to keep Silver cheap. I couldn't stand it. I thought last week's buy was going to be it but today the price was still reasonable, so I went in to buy some more. Big surprise. My dealer has dropped his premium from $6 an ounce to $5 an ounce. I told the coin guy that I wanted mostly Buffalos or Maple Leafs and he fixed me right up. I know that I could order Silver from some dealers that I don't know and get a better premium price but so far, I've tested every piece that I've bought from my local guy and every ounce turned out to be legit. I have a bad case of "Fear Of Missing Out" so I've been a little drastic in my purchases because I think Silver is about to explode and I won't be able to afford it when that happens.

[JohnyMac]

Thx for the update 

[pkveazey]

Well, I did it again..... With the recent dip in price, I stopped in and bought a bit more Silver Buffalo Rounds. I keep telling myself that I have enough, but we all know that we can never have enough.

[Deathstyle]

Well, I did it again..... With the recent dip in price, I stopped in and bought a bit more Silver Buffalo Rounds. I keep telling myself that I have enough, but we all know that we can never have enough.

Do you buy online or in person from a local store?

[pkveazey]

What the Hell just happened? At exactly 2 PM today, Silver's Spot Price jumped from $22.60 to $23.60 in about 10 minutes. I've been looking for some kind of massive world event that might have caused that to happen. I've seen a $1 jump before, but it took all day. This 10-minute jump is unheard of.

[JohnyMac]

Manipulation by .gov maybe?

Again something may be in the air as next week comes up where some folks are predicting panic cycle in the EU market.

[Nemo]

Seems some out there are encouraging silver purchasing.

Nemo

https://www.msn.com/en-us/money/savingandinvesting/these-are-the-4-best-silver-coin-types-to-buy-in-order-to-turn-a-profit/ar-BB1hiHuV

[pkveazey]

Finally..... Silver is getting back on track at $29.60 oz. Even Copper is on the move at $5 a pound. I've been saving those pre 1982 pennies for several years and looks like it might be great when the SHTF. 199 copper pennies ($1.99) face value is now worth $5. If you get a 1982 penny, don't forget to weigh it. About half of them are copper and the other half are zinc. The zinc weighs 39 grains and the copper weighs 49 grains. I bought 2 cheap electronic scales from Amazon just for weighing metals and gemstones. Yep, I'm also a rock and mineral collector.

[pkveazey]

Holy Mackeral..... Silver just jumped to $30.84. Hmmmm.... Maybe this is the upswing that we've been waiting for.