Latest / SILVER / GOLD / $UFD Meme Coin Investing & Global Economics / 🚨 ALERT! 🚨 Silver Institute EXPLAINS Silver's "Perfect Storm"

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🚨 ALERT! 🚨 Silver Institute EXPLAINS Silver's "Perfect Storm" · SILVER / GOLD / $UFD Meme Coin Investing & Global Economics

0:03
Hey everybody, welcome to the live stream.
0:05
Welcome to the basement. We've got a big major update on
0:09
gold and silver for you this early Saturday morning, but you
0:14
may be watching this at a different time.
0:15
Wherever you are, whatever time it is, thank you right now for
0:19
being here. It's a big deal when you join us
0:21
in the basement. I don't tell you that enough how
0:24
much we appreciate you giving us your time.
0:26
Please give this a thumbs up that helps get the word out to
0:29
more people. And you can always subscribe to
0:31
the channel that is free. But what big updates do we have
0:34
to talk about? We're going to look at what
0:36
happened this week. It's very interesting in the
0:39
silver and gold price. But we're also going to talk
0:43
about the Silver Institute, right?
0:46
Talking about the perfect storm for silver.
0:49
We'll hear what the, I guess, head or president, whatever he
0:52
is of the Silver Institute has to say about the current state
0:56
of the silver market. You would think, look, there's
0:59
different opinions about this guy, but you would think he
1:01
would at least know a little bit about what's going on, right?
1:04
Wouldn't we? He is the head of the Silver
1:06
Institute after all. And we're going to talk about
1:10
rip offs of all shapes and forms within the precious metal
1:14
sector. We're actually going to be
1:16
joined by our friend Coin Shop Chris.
1:18
You remember Coin Shop Chris? He's one of our friends here in
1:21
the basement. He's going to give us some
1:23
stories, some ideas He has what he has experienced over the
1:27
years in terms of rip offs in the precious metal sector.
1:30
But we got a story about a man in Maryland also who lost over
1:35
$1,000,000 in gold bars to a scam.
1:40
So we've got some warnings. We're going to look at that
1:42
story as well. But let's start by checking out
1:44
what is happening right now. I think the biggest thing that
1:48
we need to look at right now, well, let's go out to
1:51
appendbacks and check the gold and silver price.
1:54
OK, Gold is just not moving today.
1:56
I wonder why? Maybe it's Saturday, I don't
1:58
know. But guys, gold price $2394.00
2:02
per oz. Why does it feel like it's been
2:06
a bad period for the precious metals when we look at this gold
2:09
price, 2000 almost, let's just say $2400.
2:13
We're like knocking on the door of $2400 gold, my Lord, my gosh,
2:18
sorry, I don't like to use the Lord's name in vain.
2:20
But you know, we can look back to October of last year.
2:23
We can look back just in February of this year.
2:26
We are substantially higher. Don't forget that last year
2:30
around Christmas time, we were praying for $2100 gold and like
2:35
briefly on a Sunday night, we popped our heads above $2100
2:39
gold. So here we are with almost $2400
2:41
gold. The silver price, as you know,
2:44
it had a rough week. There's no other way to say it,
2:47
right? But we're still at $28.00
2:50
silver. Again, I remember back in
2:52
February we were at $22.00 silver.
2:55
So not all hope is lost. A lot of people feels like a rug
2:58
poll and oh all this, you know, the price of silver is collapsed
3:02
and all about, you know, remember guys that anything and
3:06
silver is very volatile, OK, but any asset if it's going to go
3:11
up, it doesn't go up in a perfectly straight line.
3:14
So let's hang in there. Let's take a look at the current
3:17
and let's say thanks to pin backs.
3:18
While we're here, our online bullion dealer, sponsor of Ron's
3:23
Basement, it's where I buy my silver.
3:27
If I do decide to buy gold in the future, it's where I'll buy
3:30
my gold as well. But I like pen backs because
3:32
they always have a great selection, great reputation,
3:36
great customer service. You know that I worked with them
3:39
before they sponsored the channel, OK.
3:42
And #1 their prices are second to none.
3:45
I always feel like it's a one stop shop.
3:47
I know I can get everything I need, get a great price, and I
3:50
don't have to spend hours and hours and hours shopping around
3:53
everything else. And don't forget to guys, if you
3:55
ever get to a point where you think you might want to convert
3:59
all or part of an IRA into precious metals, please talk to
4:02
them as well. Compare how many ounces of gold,
4:05
how many ounces of silver PMBEX can get you for your dollar,
4:09
whether you're converting an IRA or you are buying bullion that
4:13
you're going to have shipped to your house.
4:15
Just compare how many ounces of the same exact silver you can
4:19
get from PMBEX to other sources and I think you'll like what you
4:23
see or hear or both. I don't like what I see here,
4:29
guys. This is the gold to silver
4:31
ratio. And on the yellow here, this is
4:33
getting crazy again. We're at 85 1/2, OK.
4:38
That means it takes 85 1/2 ounces of silver to get one
4:43
ounce of gold that is historically high.
4:46
I want to point something out to you in regards to this gold to
4:50
silver ratio that we're dealing with right now.
4:53
And that is that if we look at a long term chart, if we look at
4:56
historical charts now, look, there's been periods of time
4:59
where the gold to silver ratio was like 7:00 to 1:15 to 1:25 to
5:04
1, very, very low, right? The amount of silver every year
5:09
that gets mined out of the ground.
5:11
Thank you, Annie Oakley for being here, by the way, And
5:13
there's The Lone Ranger. All right, thank you, guys.
5:16
Thank you for your support, thank you for your help.
5:18
But let's let me back up. It's important for us to
5:21
remember basement dwellers, right?
5:24
What does it mean when you think about this?
5:25
Every year there's mining operations going on all over the
5:30
world, OK. You've got gold mines that are
5:32
that are digging gold out of the ground.
5:34
You've got silver mines that are digging silver out of the
5:36
ground. Number one, it's becoming
5:38
increasingly harder for these mines to find gold and silver.
5:43
But did you know, and what does this tell us when we think about
5:46
it, that for every one ounce of gold that gets mined every year,
5:51
right, based on that gold to silver ratio, you would think
5:53
there'd be 80 ounces of silver, 8570, you know, something real
5:57
high like that ratio. No, try like I hear different
6:01
numbers. I hear 7 to one, right?
6:04
7 ounces of silver for each one ounce of gold. 12:50 Right. 10
6:08
ounces of silver, whatever it is, it's very, very, very low
6:12
and silver's becoming increasingly harder to find, OK,
6:16
It makes no sense that the price is.
6:20
And then on the on top of it, all, right, I mean, what does it
6:23
mean when we think about the fact that like a lot of the
6:27
silver that is mine is actually been consumed every year as
6:31
well, right? Almost none of the gold is
6:33
consumed, but a lot of the silver and I love gold.
6:36
I'm not putting gold down, but we just need to keep a, a, a
6:39
close eye on what's happening in that regard, right this.
6:44
And so if, let me just throw this out there.
6:47
If the gold to silver ratio at the current, at the current gold
6:52
price of almost $2400, if the gold to silver ratio were to get
6:55
back to 5050 to one, OK, which is still on a long term
7:00
historical basis really high. But in recent history that's
7:04
kind of the average 50 to one where it would take 50 ounces of
7:07
silver to get one ounce of gold. The silver price would be around
7:11
$48 per oz right now, not 28. No, scratch out the two, write a
7:18
four and what you know, I mean, what is this telling us?
7:22
And it really doesn't make any sense, right?
7:25
That's when you hear Keith Newmeyer talk about triple digit
7:27
silver. I haven't even been able to read
7:29
it yet, but I got a new e-mail in my inbox a few minutes ago
7:32
from the Silver Institute talking about $100 silver.
7:36
This is real, guys. Look, back in 2022, I was
7:41
talking to Rick Rule. I did an interview with Rick
7:43
Rule a couple days ago. He was talking about how uranium
7:48
back in 2022 was scoffed at. He's like, if I brought up
7:51
uranium, they would question the my, my ancestors.
7:55
I'll you'll have to watch the video to see what he actually
7:57
said. It was pretty darn funny.
7:58
But it's kind of that way with silver right now again, right?
8:03
You know, it's kind of scoffed at, but uranium, I haven't
8:06
looked at the uranium price. It went up.
8:07
It went up like 3-4 times. It can happen for silver as well
8:11
and I think it will happen to silver.
8:13
The gold price though, let's remember is the leader, OK, All
8:18
right, That gold to silver ratio is like an elastic band and and
8:23
the gold price is the leader and the gold price has been strong.
8:26
Don't forget, please, I beg you, basement dwellers, we can't
8:32
forget. We have pretty much have $2400
8:35
gold right now. Now there's some people who are
8:37
saying, oh, it could go down, let's run out quickly.
8:39
I see coin shop Chris is getting into the the green room getting
8:44
all primed up. He's going to talk with the
8:45
we're going to talk about rip offs in the gold and silver
8:47
sector. That'll be just in one minute.
8:50
But let's go over here. Let's just look at the I went on
8:54
to Google News and put in silver and gold price news.
8:57
And let's just look at these headlines, what they're talking
8:59
about right now. Sorry, I lost my audio there for
9:06
a second. Gold falls 1%.
9:08
Does investors take profits? Attention shifts the US data.
9:11
Silver plunges 5%. That was probably from Thursday.
9:15
Here's an article from Kitco. Gold price could decline after
9:18
Fed rate cut. Gold and silver tops likely in.
9:22
Who's this guy? Sunshine profits.
9:24
Radomski. Come on Radomski.
9:27
Do you guys like Radomski? I don't think I like Radomski
9:30
right now. We've covered this article
9:32
yesterday. Souped in big UK trading firm
9:36
says $2500 silver. I'm sorry, $2500 gold and silver
9:41
could hit $32 by the end of Q3. Strong, strong price pressure on
9:48
gold and silver. Let's just real quickly see what
9:50
this guy's saying. Radomski, Radomski Radomski gold
9:58
price could decline further after the rate cut.
10:00
So what he's saying is we could have a sell the news event if
10:04
and when in September, if you guys haven't heard yet, the
10:07
Federal Reserve's going to cut interest rates or that's the big
10:10
expectation. The cycle tops for gold and
10:14
silver prices may already been happened.
10:15
Even if the Fed cuts rates in September, prices are just as
10:18
likely to stagnate or decline as to rally, according to presumes
10:24
law. Slaw Radomski, CEO of Sunshine
10:29
Profits, in recent analysis published on FX Empire.
10:33
Yeah, I wrote that while the assumption of that gold prices
10:36
will rally after the Federal Reserve, the opposite could be
10:39
true. So he's saying everybody thinks
10:41
that gold and silver are going to rally after the Fed cut
10:44
rates, but that's not not necessarily true.
10:47
Things are not that simple. He said it's the real rates that
10:50
matter to gold. OK, I take that.
10:52
OK. And additionally, Bob, OK, we
10:55
aren't going to read any more of that because if he's saying it's
10:57
real rates, real, yeah, it is real rates.
11:00
And we've talked about this and we're going to get coin shop
11:02
Chris on here in a second. But I want to make sure this is
11:05
so critical for us as precious metals investors to understand
11:09
it is real rates and real, real interest rates are calculated by
11:16
taking the current interest rate, let's say the Fed rate of
11:18
5%, right? You can get 5% on the money
11:21
market account right now, all that good stuff.
11:23
So the interest rates are 5%, and you subtract out of that the
11:27
inflation rate, which they're telling us is around 3%.
11:30
So right now you get a real rate of return of 2% on your money.
11:36
Guys, the inflation, the value of the dollar is going down.
11:40
I won't even pull up the US debt clock, OK?
11:42
We've looked at that at nauseam, and we know, right, that in the
11:47
end, the dollar's going to go down, inflation's going to go
11:49
up, and real interest rates will go negative.
11:52
The inflation rate will overtake the interest rates again, sorry.
11:57
And there's nothing that the Fed can do about it.
11:59
OK? Number one, they put us in such
12:01
a hole financially, nobody will want to buy our debt at lower
12:05
interest rates #2 There's a thing called supply side
12:09
inflation, which means like the supply of goods coming in.
12:12
And if we're trying to buy things from other countries and
12:15
they don't want the US dollar, guess what?
12:18
We have to pay more dollars for them.
12:20
And that creates even more inflation.
12:22
So I, I, I know what this guy Radomski is saying, but I don't.
12:26
Do you agree with it? Does it make sense?
12:27
I mean, inflation is not going away in terms of real value of
12:32
the US dollar. It just isn't.
12:34
There's no other way about it. Let's bring on Coin Shop Chris
12:37
here one second. Hello, Coin Shop.
12:44
Chris, can you hear us? How are you doing, Ron?
12:47
How's everybody doing? We're doing great.
12:49
Chris, how are you doing? I'm doing great.
12:51
It's been a bad week for silver and gold, but you're listening
12:54
to your inflation thing. You're absolutely right.
12:57
Wrong. Inflation is not going away.
13:00
Inflation, inflation's I mean, I think it's hard every everyone
13:05
is so micro focused on the Fed now.
13:07
Oh, the Fed's going to cut rates in September, the Feds and they
13:10
probably will, right. But the big picture, Chris, is,
13:13
is something different and that is that that the the financial
13:17
and monetary situation in this country is such that it's
13:21
almost, it's mathematically impossible that the US dollar
13:25
doesn't lose value going forward.
13:29
Absolutely. I mean, we see it every single
13:32
day when we shop at the stores on.
13:34
I mean, it's prices, you know, they seem like they're holding
13:37
right now. But as soon as, you know, these
13:39
other countries get involved with the bricks, you know, I'll
13:42
bring that up. China's getting away from from
13:45
the dollar. Russia's getting away from the
13:47
dollar. Other countries are getting
13:49
away. These dolls are coming home and
13:52
where they're going to go, we're going to have hyperinflation,
13:55
and This is why we stack silver and gold.
13:58
Yep, Yep. Hey, Chris, let's dive right
14:00
into it. So you work, you work at a coin
14:03
shop, You've been dealing with coins, silver and gold over the
14:05
years. Do coin shops rip people off?
14:08
Chris? Are our viewers out there
14:10
getting ripped off? Should they be concerned that
14:12
they're getting ripped off in the silver and gold bullion
14:16
world? Well, I'll answer it this way.
14:19
It's a yes or no question to that question for the short
14:22
answer. But do some coin shops rip you
14:25
off? Yeah, I would say so.
14:27
But there's most of the coin shops try to give the best price
14:31
when they can. You know I've been hearing on
14:34
your channel in the comments, other channels, my channel Ron
14:37
that you know some of these coin shops are really low balling the
14:41
office and that could just be based on their inventory.
14:45
I'm not depending. Coin shops, you know, we're,
14:49
we're in a buying mode. Whatever's coming to the door,
14:51
if they really want to sell it, we're buying.
14:53
We're paying up for it. You know, we don't know where
14:57
silver and gold's going to go, but if you feel like you're
15:00
getting ripped off, walk out. That's it.
15:04
And just walk out. How many?
15:07
How many people did you rip off yesterday just out of curiosity?
15:11
I hope, I hope I didn't rip off anybody, but I mean.
15:14
I I know you didn't. I was just, I want to be very
15:16
clear to the audience. I was joking around with Coin
15:19
Chef Chris. He's probably the most too, too,
15:22
too honest and too ethical. And that's what everybody says
15:25
about you. So that was just a joke.
15:27
I apologize. No, it's no it it, but it's
15:29
true. I mean it.
15:30
It's true because, you know, there's a few bad apples out
15:34
there. And bad word, as we all know,
15:36
travels a lot faster than good news.
15:40
And it is a concerning out there because you know, when, when
15:44
people come in, they want the best price possible, of course.
15:48
But remember, the coin shop has to make the money too.
15:52
So my, my idea is, you know, we use eBay if we see something
15:57
come in as a rare item, rare piece we may not seen before.
16:02
I mean, there's a lot of pieces I'm not seen before or the owner
16:05
has not seen a couple of these pieces, be this, be this before.
16:09
And really we got to look on eBay and what we do is we take
16:13
the lowest price run and it's sold over the last 3060 days and
16:17
we're going to offer 20% less. And I'll tell you why we will
16:21
offer 20% less than that selling place.
16:23
That seller has to pay a Commission to eBay about 13%.
16:28
Now there's a hot item to sell. We don't know how long it's
16:32
going to sit there and we don't, you know, if we see something
16:36
that's been up there for for a while, we can tell on sold
16:40
listings how long it's been up there for.
16:43
If it's something's gonna move fast, we're fine.
16:45
We will pay more. But we people have to keep that
16:49
in mind too, you know? Yeah, you can go on eBay and
16:52
sell it on eBay and get 7% more, but then you get to pay for the
16:57
packaging, this material. So there's a cost there too.
17:01
Yeah. So I, I think, I think what
17:02
you're saying telling people is eBay is a great resource for
17:07
checking prices. And you can check and there's a
17:10
way on eBay that you can check particular items and you can
17:14
look at past auctions, past sales prices to get an idea of
17:19
what you have, what it actually is worth.
17:21
Is that is that safe? Right.
17:23
I mean, that's what someone's willing to pay for that, you
17:26
know, you might be, you know, taking $50.
17:30
I didn't let's say you might be willing to pay 55 for it if you
17:34
want that piece. Someone else may be paying 55,
17:37
but we have to go by the lowest price that is sold for.
17:41
Yeah, so, so coin shops probably aren't ripping people off.
17:48
They need to make a profit. You know, the other thing I
17:50
thought of as well as if a, if a coin shop is ripping people off,
17:54
they're probably going to go out of business.
17:56
So most of the coin dealers that over the years that were ripping
18:00
people off on a regular basis, I would imagine a lot of them, you
18:04
know, eventually it catches up with them.
18:06
A lot of them go, go, go out of business.
18:08
But I mean, what do you see and are what have you heard or you
18:14
know, over the last like year or so, any stories or any you know,
18:19
I, I remember when I met you, Chris, there was, I'll tell a
18:21
story, one of the early on in our, our, our relationship, you
18:25
had somebody, and correct me if I'm wrong, but somebody came in
18:27
with a gold coin who had brought the same gold coin to some other
18:31
coin shops and had been given offers.
18:34
But then you looked at the coin and, and thought there might be
18:37
something special about it. Is that is that am I remember?
18:40
It was it was actually a silver coin.
18:43
It was a 19. It was I believe it was a 1916 D
18:47
walking Liberty half dollar was in pretty much mint dishing in
18:54
other coin shops offered, you know, a certain price for it.
18:58
We offered, well it was not great at the time.
19:01
We offered to send it off to grading and I thought I was
19:04
gonna come back at a higher price.
19:05
Well, the coin end up coming back as an MS-63 I believe it
19:10
was, and we were able to give her over $7000 for the coin run.
19:15
Wow, wow. Yeah, I remember that.
19:17
I I remember that. I mean, you know those that's
19:20
the about the you know, and other shops were offering her,
19:23
you know, 1500 bucks for it, 21 dollars shop offered her local
19:27
shop 3500 bucks for it. I mean, but you know, the coin
19:31
booked for over 9000 bucks And, and, and we, we told the woman
19:35
says we told her what it booked for.
19:36
I said this is not something we are going to be able to sell at
19:40
this shop. We have to send off to another
19:42
shop, a much higher end coin shop.
19:46
And we have to make a little bit money off the backside of them,
19:50
you know, you know, you know, but we were able to offer her,
19:54
you know, 7500 bucks for the coin.
19:56
Yeah. And and I and I want to give a
19:58
recommendation to our viewer who's joining us right now,
20:01
Chris. And that is if you're like me,
20:04
OK, like I love. I love silver.
20:08
You know, here, here's a beautiful American Silver Eagle
20:11
like that came from Jake, Jake's custom parts when he visited me
20:14
here in the basement. I love all types of silver.
20:17
I love old Morgans. I love the even the 40% half
20:22
dollars, all that stuff, unless you really are into coin
20:26
collecting and want to really understand what you're doing
20:30
and, you know, unless you want to do a study on that sector,
20:36
right, Ms. whatever. When I hear MSI think of the
20:38
state of the Mississippi, OK, I'm just not into that.
20:41
OK, I'm, I joke around, you know, I'm just not into that.
20:45
Don't, don't, don't mess with that stuff.
20:48
OK, Buy, buy this here. Here's a here's a tube of
20:53
Krugerrands, right? I mean by, by the by, by here's,
20:57
here's a beautiful 10 oz. You don't even have to buy this.
21:00
This is being given away on August 31st during our giveaway.
21:04
It's a it's a 10 oz Coca-Cola silver bar given to us from our
21:09
friends at Pinbeck's. We're doing a giveaway on August
21:11
31st. We got a 10 ounce, A5 oz and a
21:13
one ounce. You can register for the
21:16
giveaway. There's a link in the
21:17
description of this and all my videos.
21:19
But buy bars and buy as close to spot as you can, right?
21:23
Because like if I go out, and I mean if I went to a coin show
21:27
right now with $5000 and tried to buy, tried to make make some
21:32
good purchases of like older graded coins, I would get ripped
21:36
off. I'm, I'm sure I would, unless I
21:38
ran into some really honest coin dealer who was going to say
21:42
really treat me well. I would get ripped off 'cause I
21:45
don't know what I'm doing right And I just don't.
21:49
So that would be my big recommendation is if you don't
21:53
know what these guys know, what they're doing, Coin Chef Chris
21:55
knows what he's doing. Coin Chef Chris is, is honest.
21:58
I think they're all on a lot of them people out there are
22:00
honest, but I, I don't have any clue what I have right.
22:04
I mean, and they do and they know, like you said, the one guy
22:07
offered 3500 for that one coin and when in reality it was worth
22:12
$7000, he knew what it was worth, right?
22:15
He wouldn't have bought for 3500 if it was, if he didn't think
22:18
that he could get five or six or seven K for it.
22:21
So anyway, I digress. What else?
22:24
No, we put the coin. The coin was worth $9500.
22:27
We paid $7500. We stole it to the other coin
22:31
shop for 8000 and they put it for 9500 and they happened to
22:36
sell it for 1000 for they made $1000 property to up to 9 grand.
22:42
So, I mean, you know, yeah, I mean, but we we told them,
22:45
woman, if you want to go down to that other shop, they will pay
22:48
you a little bit more. But it was like a $60.00
22:50
difference, she says. I'm not driving an hour and a
22:52
half for 60 bucks. Right, right.
22:56
So, so are you, are you seeing people let's, I'm going to shift
23:00
gears for a second at the shop, are you seeing people selling
23:04
more selling let's say in the last two to three months then
23:07
maybe we had seen earlier in the year.
23:09
Is it true? Yeah, I, I see a little bit more
23:13
selling. But, you know, at the shop that
23:16
I work for Ron, I mean, we tried to, you know, we tried to
23:19
educate people just before they sell, you know, people come in,
23:24
you know, they got into the FOMO, I think where, you know,
23:28
they said Sirvan Gold is going to go to this price, Sirvan Gold
23:30
is going to go to that place and they really don't need to sell.
23:33
When you start explaining, they said, OK, we're going to hold on
23:35
to it, you know, I mean, but you know, we tried to explain
23:39
because we don't want to try to. You take people's silver for a
23:43
low price. I mean, you know, that's not
23:44
right. You know, we, we, we're trying,
23:47
you know, like a guy came in with actually buying this time
23:51
and pin backs. He came in and said pin backs,
23:54
$12.00 cheaper for A roll of Silver Eagles and $12.00, you
23:58
know, 1259, I think it was actually, and I got a call from
24:03
one. I was home that day and I got
24:06
called one of the people from the shop and then I'm looking at
24:08
the math and like there's no way we can match it.
24:10
Got matched pinbacks at at all and are.
24:14
You talking about my channel sponsor Pinbacks?
24:16
Yeah, Pinbacks is $12.59 cheaper per roll.
24:20
Well, they're always cheap, they're always more affordable.
24:23
You always get more metal for your money.
24:25
It well, that's one of our challenges.
24:27
You know, we, you know, it's, it's Pinbacks, you know, it's
24:29
one of our biggest challenges out there because they have
24:31
great, great prices. So the guy wasn't mad.
24:34
He was a regular customer. He said, OK, I'm going to take
24:37
the savings then I'm going to save from Pinbacks and buy 90%
24:41
silver with the savings. It wasn't much of A sale, but
24:44
you know, I see more people shopping around today because
24:48
people are trying to save every single penny.
24:51
They can't. Yes, we do have some sellers and
24:53
the sellers that are selling wrong really need the money.
24:57
And if you are in that predicament, anybody in the
25:00
predicament, don't give that information to a coin shop that
25:04
will. Some coin shops will take
25:06
advantage of you telling me you really need the money.
25:09
Yeah, yeah. No, that's true.
25:10
It's not a seller's market right now for silver or I would
25:14
imagine gold in the United States, but you know where it is
25:16
a seller's market, a good, a good place to be selling silver
25:20
and gold right now. Chris, let's take a little field
25:22
trip over to China and our friend the Oriental Ghost.
25:26
Do you know the Oriental Ghost Chris?
25:28
No, no, I hear you talk. About him, yeah, he's we've
25:31
known and I the last few people I think know him and talking to
25:34
supposedly a really a great guy. He puts this report out from the
25:37
Shanghai Gold Exchange. Can you say that Shanghai?
25:42
Shanghai. I like to say Shanghai because
25:46
the prices are so high, because it is a seller's market.
25:50
If you're going to sell your silver, you should go over to
25:52
the Shanghai Gold Exchange. Here we go, silver on the
25:54
Shanghai Gold Exchange. I don't know if you can see
25:57
this, Chris, but it is selling for and this is a physical
26:01
market, $31.00 per oz. So almost still a whole $3 per
26:07
oz higher and on the Shanghai Futures Exchange about the same
26:11
price, maybe a little bit lower. But I mean, isn't it crazy?
26:14
I'm, I'm just wondering if all the silver that Americans are
26:20
hold on here, how do I get you up on the screen again?
26:24
There we go, Chris and Ronnie, here we are side by side.
26:28
Chris that is as when you're, when do you, do you ever hear
26:32
that big vacuum sound at the coin shop?
26:35
Do you ever, do you ever hear that, that big pipe?
26:37
Does that pipe ever come through the roof?
26:39
You hear a big sucking sound, Chris.
26:41
Absolutely not, no. You don't.
26:43
Well, if you do, that's, that's China sucking up all the silver
26:47
and having it shipped over to China 'cause they're buying it.
26:51
You know who else We got news this week?
26:53
India. They lowered the import duties
26:56
on silver from 15% all the way down to 6%.
27:01
So I mean, India is already importing massive amounts of
27:05
silver. This it's, I mean, I think, I
27:07
think like Americans are, are, are selling silver in, in, in
27:11
aggregate over time, it's all getting packaged up and shipped
27:14
over to the East to China and India.
27:16
Yeah, the inventory is in, you know, right now in this country,
27:20
you know, most going shops are very well stocked.
27:23
Most bone dealers are very well stocked.
27:26
But you know what? We've seen it the other way,
27:28
Ron. When they were all stocked up,
27:30
it took just a few days, 72 hours, and everything was wiped
27:33
out. Yeah, yeah.
27:34
No, I mean, yeah, I mean, think about it and and, and and and
27:38
I'll encourage our viewer to think about this as well.
27:40
Think back to the little banking crisis that we had 14 1/2 months
27:44
ago in this country. You couldn't get silver people.
27:47
You've told me people were paying, people were paying like
27:49
like $25 premiums to buy American Silver Eagles, right?
27:54
Per boy, you can almost buy one for that price right now.
27:57
I bought some for that much back in February.
27:59
I mean, it's insane, right? And, and, and Chris, I mean, we
28:04
got, we got to, we got to, we got to remember, right?
28:06
All of me, you and the viewer, we got to remember, Yeah, sure.
28:10
There's a lot of silver right now at the coin shops.
28:12
A lot of silver, right? It's really not a lot of silver.
28:15
It's a small fraction of the overall silver market, number
28:20
one. Number two, with the speed at
28:23
which information travels now that that silver can get wiped
28:28
out quickly, that's happened a couple times right where there
28:31
was no silver available here in the last five years.
28:34
It gets it can get wiped out and like I think you said it 72
28:37
hours, right. Gone 72 hours, yeah, it'll be
28:40
about 72 hours that would be get wiped out.
28:43
You know, I mean, we're, we're really stocked because we bought
28:46
a lot of the owner really went heavy with the $22.00 range.
28:51
And you know, he, he just went full blown.
28:55
Yeah. And we're making pretty good
28:57
money off that price because if you add the cream on top of what
29:00
he paid there, But yeah, we're making OK money right this right
29:04
now. And you know, is, is that
29:07
ripping you off? I mean like if you know, I would
29:09
say, you know, going back to the rip off for a minute, Ron, you
29:12
know, are we ripping people off because Pemex was $12.59 keeper?
29:18
You know, PMBEX has has a great buy right now on 90% silver
29:21
right now. We're a little bit higher than
29:23
PMBEX right is right now. And then you know, they have an
29:26
awesome buy on 90% quarters, right?
29:29
This right now. I just can't believe how they
29:32
can do it for that cheap run. I don't know.
29:34
Yeah, well, yeah, No, that, that's that's why I love PMBEX
29:39
and love having them as a as a sponsor.
29:41
But no, I don't think you're ripping people off.
29:43
I think there's, you know, if if somebody's charging, you know, a
29:49
little bit more, a little bit less, I mean, there's
29:51
competition, it's a free market, right?
29:52
But if somebody's gouging or manipulating people like you
29:58
hear with some of these I gold IRA companies, right, you hear
30:02
about people that convert $100,000 into a gold IRA.
30:07
And then when they, you know, and they get sold all these
30:10
weird, you know, quarter oz gold coins and weird, you know,
30:15
silver coins. And, you know, and then when
30:17
they actually sit down and figure out how many ounces of
30:20
gold and how many ounces of silver they got for their
30:22
100,000, they got like, you know, 64,000 melt value.
30:27
And again, this is not all, you know, this is just a, a fraction
30:30
or part of that of that industry.
30:32
That's a rip off, right? That that's a, that's where
30:36
people are getting, I think really ripped off right now.
30:39
And it's, it's a shame. And I've heard Andy Scheckman
30:43
talk about it. I've talked with the guys at
30:44
Pembex about it that, you know, they hear from these people that
30:47
once they realize that, Oh my gosh, I didn't get, you know, as
30:52
much actual physical. I always recommend to people,
30:55
and this is just mean, but no matter, especially with these
30:58
Iras, whatever you're doing, look at how much actual silver
31:02
and gold, how many ounces you're actually getting, right?
31:05
Because like I said earlier, most people don't aren't experts
31:08
in the numismatic field, the the collector side of things.
31:13
Just, you know, at the end of the day, if you want, if you
31:16
want to convert Fiat into metal, well then you want to get the
31:20
most actual metal, legitimate metal for your money.
31:23
Does that make sense, Chris? Yeah.
31:25
And about about eight months ago, I guess, Ron, I had a woman
31:28
come in. She finally cashed out her
31:30
silver from one of those. And it won't say the company's
31:33
name, but you, you know, and they were even, they were off
31:38
oz, you know, like the Canadian makes a lot of the three quarter
31:43
oz and you know, stuff like that, which is perfectly fine,
31:47
you know, but they have a higher premium on it.
31:49
And that's what some of these companies like to do.
31:50
They give you the lower, you know, 3/4 of an ounce, 1.25 oz
31:55
and they thinking it's rare. It's not that rare.
31:58
Some of these coins, you know, they're mass produced too, and
32:01
you know, they fool people thinking into the gain something
32:04
real, something very valuable. Yeah, I got a bunch of them
32:08
here, right. That right.
32:09
Oh, it's a, it's a one and 1/4 ounce of Canadian Mint wildlife
32:14
series, you know, growling bear and I've got a bunch of them,
32:17
OK, right. And they're not that rare.
32:19
I mean, they are, but they're, they're not that rare, OK?
32:22
They're not, they don't, they don't deserve like 100% premium
32:25
or 80% premium. No.
32:28
Which is what some of these, I mean, that's, that's just, I'm
32:30
not going to pull any punches. That's what some of these some,
32:33
right, again, right. There's some great people out
32:36
there, right? But that's what some of these
32:38
companies do and they rip people off.
32:41
And then, you know, let me just say this.
32:42
I got to say it. You know if there's a celebrity
32:46
endorser besides Ron from Ron's basement.
32:50
Are you laughing, Chris? That was pretty good.
32:54
Yeah, that was pretty good. That was not that good.
32:56
Anyway, if there's a celebrity endorser, right and there's some
33:00
promise that you're also going to get get up to $10,000 and
33:04
free silver, nobody's going to give you anything for free,
33:07
right? Like if you convert 100K and
33:10
they give you 50,000 worth of silver and then they give you
33:14
another quote UN quote free $10,000 worth of silver and then
33:19
they're paying a bunch of commissions and everything else
33:20
to everybody else out there, you got ripped off.
33:23
OK. If you convert 100K into silver
33:27
or gold, you want to make sure that from a melt value
33:30
perspective, I would say you want to make sure you're getting
33:32
like at least 95,000 somewhere in that range or higher melt
33:37
current melt value of metal that.
33:39
Does that sound reasonable, Chris?
33:41
That sounds very reasonable. That's why we everybody's going
33:44
to shop around for everything. And I'm a big advocate of that.
33:48
You, you know, I mean, I'm not mad that guy bought from him
33:51
back. So I mean, good for him.
33:52
I mean, he wasn't mad that we were $12.00 higher.
33:54
You know, he understood. I mean, you know, I mean it.
33:58
I would love to help the guy out 'cause he was he, he is a
34:01
regular customer, but at times you just can't do it.
34:04
You can't do. It, you know, I mean, another
34:07
thing that people don't realize is these coin shops, some of
34:09
these coin shops don't even deal with bowling deals at all.
34:13
They come in, they have the stuff which comes off the
34:16
street. We deal with the bowling dealer.
34:18
So when we deal with the bowling dealer, we can't pay somebody
34:22
what the bowling dealer's willing to sell to us for a
34:24
week. We gonna pay for a little bit
34:26
less than that. What we buy from the bowling
34:28
dealer for. That's just how it works, you
34:30
know, And I'll make this an example, you know, we all know
34:33
Walmart, CVS, you walk in the CVS, you're gonna pay a higher
34:37
price. Is CVS ripping you off?
34:39
I mean, we can go on that line, Ron.
34:41
I mean you, you know, I mean I'm trying to get the award out.
34:47
You know, we have to shop around.
34:49
And I tell you, pin backs is, you know, I've seen them time
34:53
after time the best price around they're on and I got example
34:57
when you want you when you're ready for this, for that, Yeah,
34:59
I mean. Yeah, let's, we'll do that in a
35:01
second. Let's.
35:02
I promised everybody. Chris, how much time do you
35:04
have? Do you have another 10-15
35:06
minutes or are you? Yeah.
35:07
Sure, we're. Not all right.
35:09
So I promised everybody the Silver Institute, this guy,
35:12
Michael Dirienzo, I got this real interesting, the perfect
35:17
storm for silver and gold. I have to deliver on what I was
35:20
promising here in the in the thumbnail for this video.
35:24
Let's talk about there he is. Can you see that on your screen,
35:28
Chris, interview with Michael Dirienzo, CEO and president of
35:35
the Silver Institute. There's a varied different
35:39
levels of opinions of this guy within the silver community, but
35:43
I'll, I'll say that first. But he is the president and CEO
35:47
of the Silver Institute and they had four questions for him.
35:49
This came from, what was it, ABC Bullion, which stands for, it's
35:55
an Australian company, Australian Bullion Company.
35:59
So if you're following us from Australia, you're probably
36:01
familiar with this, but they had four questions.
36:03
I'm going to read through these really quickly.
36:04
If you have any comments, Chris, you can jump in.
36:07
What has been the primary driver of the deficit, the silver
36:10
deficit, where demand is outstrip supply that we've seen
36:13
in the silver market since 2019 and do you see that deficit
36:16
reducing or ending soon? Michael Dirienzo said.
36:21
In our view, it's a combination of the record silver demand,
36:24
which is led by industrial demand, and the lower mine
36:27
supply. Over the last several years,
36:29
industrial man set records. This is primarily a result of
36:33
global electrification. For example, Photovatalics last
36:36
year reported that silver's use and solar power grew by 64% to a
36:42
record high, and we are projecting strong growth this
36:45
year as well. Geopolitical and labor issues
36:48
have affected silver mine supply.
36:51
When combined with thriving industrial demand, the
36:54
structural market deficit stood at 184,000,000 ounces in 23 for
37:00
the third consecutive year. And we project that in 2024 we
37:04
will also experience a greater deficit than 2023.
37:09
So this year's deficit should come in at 215,000,000 oz Coin
37:13
shop. Chris, what do you think about
37:15
that? I think, I think he hit it right
37:17
on the nose, Ron. I mean, you know, the problem is
37:20
people don't see that as a deficit because when we go
37:24
online or you walk into your local coin shop, there's plenty
37:27
of stuff out there to you, it might seem plenty out there to
37:32
us. Who's in the field?
37:34
It might not be so plentiful. I mean, you know, right now I
37:38
would say from the inventory we have, we have a good inventory
37:43
at the moment. You know, like I said, it can
37:47
dry up very quickly. Well, let me, let me ask you a
37:50
question. So yeah, like if I walk into a
37:52
coin shop, my local coin shop and they, you know, they're so
37:55
happy to see me, of course. And there's there's product in
37:59
the case, right? I see that product in the case.
38:03
What I don't know is how much is in the store room that I don't
38:08
see how much is or is not right. Like we don't know if there's
38:12
they got it stacked up to the to the ceiling or if they've got
38:16
everything they have out in that case, right?
38:19
You know, you know, you know what I mean?
38:20
So it's hard to and it's so critical.
38:23
I forgot to put this. We got it, we got it.
38:24
This is so key, Chris. It's so different right now.
38:28
We talked about how they can get wiped out in three days.
38:31
You know why it's it can get wiped out in three days?
38:35
Because, because now people can buy silver online literally in
38:41
the matter of like 10 minutes, right?
38:43
You and I could buy a monster box of American Silver Eagles in
38:46
the next 10 minutes, probably two or three of them if we
38:48
wanted to. Well, maybe you can, not me.
38:52
Well, I meant, I mean in theory, right?
38:54
People can buy, people can buy silver instantly.
38:57
Everyone joining us right now, right if they if they wanted, if
39:00
they wanted to buy, if everybody decided they wanted to buy
39:03
silver that's on this live stream right now, this video,
39:06
they could hop on their phone, go out to pin backs, go out to
39:10
whoever I would recommend pin backs and and buy silver and
39:14
probably have the whole transaction done in 5 minutes,
39:18
right? Different than what we had in
39:20
the mid 90s when if you wanted to buy silver, you had to get in
39:25
your car, hope it starts, drive to the coin shop, wait in the
39:29
lobby, look at the coins, you know, see what they have.
39:32
Now it's a much more, how would I say it, active market where
39:38
things can get drained really quickly.
39:40
And that's the scary part right there on because, you know, you
39:45
know, sometimes, you know, we're out of maples.
39:48
You know, somebody comes in, buys a month's box and a half,
39:51
That's all we have. OK, we're going to sell them.
39:53
We got to wait. OK, We, we get a bowling
39:55
delivery twice a week. So I have to get online, order
40:00
it through the bowling dealer and whatever the next day is
40:03
available, they're going to be in the area to drop off.
40:06
I'm going to be out of that. And unless somebody comes in and
40:09
sells me a couple tubes of maples, I'm out.
40:13
I mean, you know it, that has happened time after time and you
40:16
know, sometimes we can order 678 monster boxes of this stuff and
40:22
it just goes some some big guy comes in or some big girl comes
40:25
in and just buys two or three at a time and that it's happened,
40:29
Ron. Well, come on, Chris, come on.
40:32
Level with us, level with us, level with the audience.
40:34
Do you see a time in the next five years where you just won't,
40:39
nobody will be able to get silver or it's all gone?
40:42
Do you think that's possible? It's all gone.
40:43
It's possible. It's possible It could.
40:45
That could happen, you know, when the interest rates get
40:48
reduced wrong. It's possible when when people
40:51
wake up and see the dollar is losing value every single day
40:54
and say what the heck am I doing?
40:57
Not why am I not going back with real money?
41:00
Yeah, I mean, it's coming. It's just the mass population in
41:04
United States, in Canada, I would say, and maybe the UK have
41:10
the mass people have not woken up yet, Ron.
41:13
They're all asleep, Chris. They're sleepy sleep time.
41:16
They're watching TV. They're watching MSNBC and CNN
41:20
and all the channels. They're asleep.
41:23
They have no idea what's going on.
41:25
I think that we could hit a point where, yeah, I think the
41:27
next time, I think the next time something big happens, right,
41:32
like and something big is going to happen.
41:34
I mean, something big almost happened 2 weekends ago, as a
41:38
matter of fact. But anyway, well, something big
41:41
happens, right? And, and there whether it's a
41:44
financial crisis or, and even if it's, even if something big
41:49
doesn't happen, I think the next wake up is going to be the one
41:54
where people are like, Oh my God, I got to do something to
41:57
protect myself and protect my wealth.
41:59
And I think we will be, I think we, I think in the next five
42:02
years we will hit another, another point where, you know,
42:06
where, where you won't be able to get silver or gold possibly
42:10
for that matter as well. I mean, it's even under the best
42:13
of circumstances, just looking at the national debt and, and
42:17
what's going on there with the dollar.
42:18
Either it happens real slowly or it happens slowly with some big
42:23
events that occur that are going to wake people up that are going
42:26
to, that are going to shake people When they go to the
42:28
grocery store and a gallon of milk cost, you know, $8 and, and
42:33
$0.50 or $12.50, then they're going to start waking up.
42:37
They're going to think about how much, how many gallons of milk
42:40
can I get for an ounce of silver, right?
42:42
And by that time it might be too late for some people 'cause the
42:46
inventory is going to be gone. It'll it's it'll, it'll be it'll
42:49
be I think it was Mike appendix. He brought this up to me and I'm
42:52
not I'm not putting words in his mouth, but that the physical
42:55
market is just a fraction of the overall the 5th.
42:59
The retail available physical market is just a fraction of the
43:03
entire silver market, right. And I keep focusing on silver,
43:07
but it doesn't, it's very sensitive, right?
43:10
And everybody, thank Joel. I just went to my coin shop and
43:13
they got plenty of coins, right? And they do, they probably have
43:15
a lot in the back as well, 'cause the people are selling
43:17
right now. But baby, when that shifts and
43:20
think about this, Chris, on top of it, right, everybody's
43:24
selling in the United States. Excuse me, everybody's selling
43:29
in the United States. The coin shops in the online
43:31
billing dealers are flush with inventory, but we still have
43:35
$28.00 silver, which historically is a good high
43:39
silver price. You, you talked for a second.
43:41
I'm going to pull a chart up. I mean, if you, if you go back
43:44
to February, Ron, I mean, what do I have the numbers here?
43:48
Yeah, I did the numbers on my channel.
43:51
Yes, they were on, I mean Platinum.
43:53
Well, Platinum is down over the last since the beginning of the
43:56
year. Ron, where are we here?
43:59
Bear with me one second, Ron. We're down $64.80 for Platinum
44:03
year to date. Gold we're up $309.20 year to
44:07
date or 14.92% since January. Silver we are up $3.93 Ron or up
44:16
16.33% year to date. Yes, silver and gold have done
44:23
very well since January. And, and I want to look here.
44:29
Thank you for that. And I want to look here and I
44:31
want to show people this when it comes to silver, OK, this is a
44:35
one day chart is over. That's not what we're interested
44:38
in. Let's go all the way to the Max
44:40
OK, there's can I get that on the full screen?
44:43
Let me see can you see that on the screen right now?
44:45
Chris it. Says no data available.
44:49
No data available. Hold on, we'll try again.
44:52
OK, well, let's just go back here.
44:56
Let's go back to the last five years.
44:57
Try it that way. Well, yeah, or let's.
44:59
I can probably do it here. It's small, but people can see
45:02
it. Let me let me zoom in here.
45:07
Where is it? There it is.
45:10
OK, here we go. I think this works pretty good.
45:18
I mean where we are right now, the $28.28, there we are.
45:24
I mean this goes back to the year 2000, September 1st the
45:28
year, So that's what 25 years. So in the last 25 years, when
45:33
you look at this chart, how often have we been had a higher
45:35
silver price than what we have right now is live coin shop.
45:39
Chris and Ron from Ron's basement are talking.
45:42
I'm getting angry, Chris, how much?
45:43
I mean, look. There hasn't really been that
45:46
much charting there. No, it was back in this period
45:49
here from about November of 2010 through through through about
45:55
two years, right. And remember that was doing the
45:59
financial crisis which coming out of that.
46:02
Yep, Yep. Yep, so-called coming out of
46:04
that. Yep.
46:06
I'll leave it at that. All right, let me get back.
46:08
I got to, I got to finish up. We got to finish up on this, the
46:11
Silver Silver Institute, our friend, our friend, I don't know
46:15
this guy, Michael Dirienzo. These are quick.
46:18
We'll run through these and we'll talk about the perfect
46:20
storm. While industrial use is a large
46:22
and growing part of the silver market, investment demand is
46:25
also important. What are some of the key trends
46:28
you expect to see in the investment front in the period
46:31
ahead? Silver Institute says we expect
46:33
to see a small reduction in bar and coin demand this year, but
46:37
feel confident this will pick up in 2025.
46:40
Interestingly, institutional investors are taking a close
46:47
look at silver this year, and the ETP holdings are projected
46:52
to increase by over 50 million ounces in 2024.
46:57
We're also keeping a close eye on China, which appears to have
47:00
an increased and growing appetite for silver, right?
47:04
So all this is happening with 0 retail investor demand in the
47:09
United States. But what we're seeing is, right,
47:12
China is providing huge demand. But if these institutional
47:16
investors come around to silver when they wake up to silver, I
47:20
mean, it's, it's such a such a small, delicate market.
47:25
It could be, you know, a little bit of money coming in could
47:28
result in huge price increases. What what factors are you
47:33
watching most closely in the silver market and how do you
47:35
expect it to impact the price of silver in the years to come?
47:41
You asking me? No, I'm asking.
47:43
We're asking Mike. I was coughing off off Mike.
47:46
We're encouraged by what we're hearing on the institutional
47:49
investment and are releasing a report on why institutional
47:54
investors should invest in silver later this year.
47:58
We think this is the missing component of a substantially
48:01
higher silver price. Moreover, many investors enjoy
48:05
that silver is considered a dual metal, both as an investment and
48:08
industrial and its price point compared to other precious
48:12
metals. We strongly feel that although
48:14
the silver prices performed well this year, there's much more
48:17
running room to take silver much higher again, right?
48:21
The only people buying silver over the last year, the ones
48:26
who've driven the price higher, it's been China and India.
48:29
That's the bottom line, right? Because people in the West
48:32
aren't buying. They're not, you know, the level
48:34
of investment demand in the West is nothing.
48:36
And the same is true with the mining stocks as well, right?
48:40
There's people in the West aren't buying the metals and
48:42
they're not buying the mining stocks.
48:43
When that changes, it could be big.
48:45
Here's the perfect storm. Like all assets, silver
48:49
experiences bull and bear markets.
48:50
Given your involvement in the silver industry over many years,
48:53
what has typically been the perfect storm environment that
48:58
that silver thrives and and performs best.
49:01
We've seen precious metals take off in times of economic shock
49:04
and in the most recent case during the global pandemic.
49:08
Currently and just talking, the US, we have massive government
49:12
and consumer debt and our government continues to print
49:14
money. We're also facing a commercial
49:17
real estate bomb, primarily due to the work from home movement
49:20
starting during the pandemic. Interest rate cuts also draw
49:24
investors interest as they turn to precious metals as a vital
49:28
portfolio asset. the US Fed could cut rates later this year
49:32
with additional cuts in 2025, which could benefit the silver
49:35
price and the market. So that's what he sees as the,
49:39
as the, the the perfect storm. Any thoughts, Chris?
49:44
I mean, you know, yeah, I mean, anything can happen, Ron.
49:46
I mean, we, but we all know that.
49:48
I mean, you know, silver is getting drawn up by, you know,
49:52
the physical, not the physical market, right.
49:55
This right now it's the solar panels, the electric cars.
50:00
Yeah. It's it's coming to a head at
50:02
one point in some when all these, you know, countries are
50:06
buying the silver off the Comax and LBNA.
50:08
They're going to run out eventually.
50:11
They're going to run out wrong. And they're going to say they're
50:13
going to have a whole use the word, oh, crap, I got nothing
50:17
left. What are we going to do now?
50:19
And it's just going to be the time when silver and gold are
50:23
going to go to the roof. Why are central banks buying up
50:25
all the gold? Why, you know, they never done
50:29
this in years and years before wrong.
50:31
And all of a sudden they're buying all the silver and gold
50:34
up and at some point it's going to be gone.
50:38
Yeah. And we know the inventory levels
50:40
at the COMEX at the OB. All time low.
50:43
Yeah. And at the Shanghai Gold
50:45
Exchange, if you had Shanghai Futures Exchange that the, the,
50:49
the, the, the, the, the inventory levels are very low.
50:53
We can say that, you know, without, without exaggerating,
50:56
very, very low. So you did some comparison
50:59
shopping. I did.
51:03
I put this on my channel this morning, Ron, so I'll do it on
51:06
your channel for you. I went out there and compared a
51:10
lot of 10 Cougar Rands, South African Cougar Rands.
51:14
I went to bowling exchanges, Ron.
51:16
They had none available. I went to Hero Bowling, they had
51:21
them for 38O2. So that was 310 dollars, 300 and
51:25
eight $80.02 for for 2018. The rest of it's going to be
51:30
random years. OK.
51:32
I threw it in there because I think that's a very high price
51:35
for Cougar and they were bowling ACH price went to at Maxron for
51:42
a lot of 10. There were $336.50 random dates.
51:47
JM Bowling had them for $335.10 random dates.
51:53
Money Metals had them for 329 random dates, lot of 10.
51:57
Again, SD Bowling came in at 3/23/90 for lot of 10 and your
52:04
sponsor Ron came in at $311.60. OK.
52:09
And this is for this is for 10 South African Kruger and silver
52:15
coins and you were comparing prices with these different of
52:20
of of sellers at the same time on Friday evening is that?
52:24
Correct. Friday evening, 5:00 PM East
52:26
Coast standing time. Yes.
52:28
OK, so you're comparing apples to apples here is getting that.
52:31
OK, OK, go ahead. I'm sorry.
52:33
So what? And you and I heard you.
52:35
Well, I'll let I'll give you the stage.
52:37
Chris, the stage is yours. Well, pin backs came in at the
52:40
cheapest price at $311.60. Wow, what was the?
52:44
What was the difference between the lowest and the highest
52:47
between? This is where we're not
52:48
comparing apples to apples, but the only thing that hero Bowen
52:53
had was 2000 eighteens and I don't know why it would be that
52:58
high, but they had $380.02 Ron 38O2 and pin backs came in at
53:06
3116. OK.
53:08
Per coin, Do you think it's because the 2000 eighteens are a
53:12
little rare or do you have any idea?
53:15
Well, I mean I'm sure. I mean Pembex is saying ramming
53:18
dates. They were all showing a picture
53:20
of 2018. So I'm not, I don't know if 2000
53:24
eighteens is a lower key date, if you want to call it that one.
53:28
I'm not sure about that. But most of them were at random
53:34
dates. So I mean whatever, I mean
53:36
really at at the end of the day, it's announces silver.
53:40
So why would you want to pay 38 bucks versus 31?
53:44
I don't know, but but from 380 bucks, from 311 bucks, what?
53:48
That's almost a $70.00 different drawing, the same for the almost
53:53
the same product. This is a different year.
53:56
Hey, we got a super chat from Cliff Moberg.
53:58
Thank you, Cliff. Thank you and.
54:00
We got a guy in the we're going to talk about that.
54:02
We got a guy just saw in the comments too.
54:04
I like when I have you on. I can look at a few of the
54:06
comments. Ask Chris why Engelhart silver
54:08
Prospector coins are such high dollar.
54:12
Cliff Moberg. Do you have any idea to answer
54:14
that one, Chris? Yeah, they can be high if
54:17
they're in good shape. Do you know they are a more of a
54:21
collectible round now? That is why And they don't make
54:26
them anymore. Ingleheart does not make them
54:27
anymore. Ingleheart is out of business,
54:30
right? Yes, that's right.
54:31
Yeah. So they, you know, a good price,
54:34
you know, for those would be, you know, 35, but I've seen them
54:37
as high as 4550 bucks. So, I mean, you know, that is
54:42
probably the reason why, you know, people think they can get
54:46
more and, you know, if you shop around, you can find them for
54:49
less. So I mean, you know, coin shops,
54:52
some coin shops don't care what's on it.
54:54
They will buy you, you know, whatever the is on it and they
54:58
sell it for as a round. And some coin shops will do it
55:02
as, you know, well, it's a rare thing.
55:04
I can get a little bit more, you know, and that's another thing
55:07
about coin shops. They don't care if it's really
55:08
on your coin or on your round or on your bars.
55:13
They care about the they care about the silver content only
55:17
most shops. Yeah, yeah, that's why, that's
55:20
why I always rest assured that about 1/3 of the silver that I
55:23
own is has what's it called, milk spots on it.
55:27
Cause at the end of the day, it's silver, you know, right.
55:31
All right. Thank you for answering Chris
55:33
question. ODBGO Dirty Bastard Garage also
55:37
gave us a super chat $2.00. Thank you to our friend and
55:43
Chris. I think we're going to wrap it
55:44
up for today. I want to say thank you to
55:45
everyone who joined us and before I forget guys please coin
55:50
shop Chris has his own YouTube channel yes that's right.
55:54
He does and all you have to do is go into I'll show you how to
55:58
do it. I'll even show you how to do it.
56:00
Guys, before we go here, if you go out to YouTube and I'm going
56:08
to YouTube and you go into the YouTube search bar and you type
56:14
in the crazy coin guy and I'm just kidding, you type in.
56:18
I am crazy, Ron. Coin shop this new computer I
56:23
have is a horrible keyboard, Chris, right there you go he's
56:28
right there. The circle coin shop Chris, you
56:31
can click on that and as you can see, I'm already subscribed, but
56:34
you can subscribe to his channel.
56:35
He's really pushing to get to 1000 subscribers, so do him a
56:40
favor, go out and help there. I appreciate that, yeah.
56:43
You got it, you got it buddy. I also hold on one second here.
56:48
I want to remind everybody that right over there, those are the
56:53
three silver bars that Pembex donated that were giving away on
56:58
August 31st. A 10 oz, 5 oz and a one ounce
57:02
Coca-Cola silver bar. There's a a link in the
57:04
description of this video where you can go.
57:07
It's real easy and it'll explain to you how to enter the giveaway
57:11
and coin. Chef Chris want to say thank you
57:14
once again to you. Thank you, Ron.
57:15
Thank you for everybody out there.
57:17
Yeah, you got it buddy. Have.
57:18
Always a pleasure. Yep, have a great weekend and
57:22
we'll see you soon. You too there, sunshine.