Latest / SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT / We Warned YOU! 🚨 Coin Shop INSIDER Gives 2 WARNINGS - (Silver Price and Gold too)

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We Warned YOU! 🚨 Coin Shop INSIDER Gives 2 WARNINGS - (Silver Price and Gold too) · SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT

0:01
Gold reaching all time highs. It's party time here in the
0:06
basement. What about $44.00 silver by
0:08
Christmas? We're going to talk about all
0:10
that. Why you want to know why is gold
0:13
hitting all time highs? Will it last?
0:16
What do we have to expect? And we're going to cover all of
0:20
that in this video live stream. But also, if you're a silver
0:26
investor, if you stack silver, you don't want to get ripped
0:29
off. You don't want to get taken
0:31
advantage of. And today we're joined by our
0:34
good friend Coin Chop Chris. And he's got a couple #1
0:37
heartwarming story about something that recently happened
0:41
with him in the coin shop, but also a couple big warnings for
0:47
you silver stackers. We're going to start by talking
0:50
about the record gold prices and what that means for silver.
0:53
But first, we're going to say hello to our esteemed guest.
0:57
Yes, the king of junk silver himself.
1:00
Coin Shop Chris, welcome to the basement.
1:03
It's good to be back, Ron. I hope everybody out there has a
1:05
happy Friday the 13th with a scary day, right?
1:10
But my, my daughter this morning said it's Friday the 13th.
1:13
We're we're probably going to get slaughtered tonight.
1:15
I thought, well, that's a nice thing to hear from you before we
1:18
get that off to school. Yeah, that's right.
1:22
So we've got record all time highs in gold as we're speaking
1:26
here this morning, Chris, I wanted to dig in and give our
1:29
viewer kind of a reason why that is happening.
1:32
And I think that will also give us a clue as to what to expect.
1:36
Here's what I learned and you feel free to jump in here
1:39
anytime you like. But basically yesterday we had
1:43
the European Central Bank, the ECB, they cut rates and they
1:48
basically signaled that they're seeing stagflation in their
1:51
economy. Now stagflation is the rocket
1:54
fuel, the rocket fuel, the nitrous oxide for gold and
1:59
silver. And I think we're seeing
2:01
stagflation here in the United States as well.
2:03
Let me pull up just for our viewers benefit, a little
2:08
definition of stagflation. It's kind of a, don't you think
2:12
that's kind of a sad looking picture, Chris, Look at those
2:14
people over on the left. They don't look.
2:17
Every time. Kind of like when a little girl
2:21
loses a Barbie doll or something, but nonetheless stay
2:26
or or get slaughtered on Friday the 13th.
2:29
Stagflation is an economic cycle characterized by slow growth, a
2:36
high unemployment rate and high inflation.
2:39
Slow growth, check. High unemployment rate, check.
2:43
And high inflation. OK, so let's go back to, oh, you
2:48
know what, Let me pull you up on the screen too.
2:50
Chris, your pile of coins. There it is.
2:54
So we got stagflationary type news and the ECB cut rates, OK.
2:57
And that to everyone indicated that for sure the Fed's going to
3:01
cut rates now, OK. We also got news yesterday that
3:04
unemployment claims are up. Are you feeling that out there,
3:08
Chris? Are you do this feel like to you
3:10
that more and more people are losing their jobs?
3:13
Does it feel that way to our viewer?
3:15
Do you do you see it going on out there?
3:17
Absolutely. I'm hearing that at the shopper
3:19
on, I mean, you know, we're hearing that at the shop and
3:21
people selling small amounts of silver or gold just to get by
3:26
because they either not yet got the unemployment check or their
3:30
the unemployment check only pays what 80% of what people make and
3:34
it's up to a certain amount on top of that.
3:37
So, yeah, there's getting a little bit of pain out there.
3:40
I'm not seeing a lot. We're not seeing a lot of
3:42
selling right now, but there is some selling and that's what I'm
3:46
hearing. Yes, job loss.
3:48
And also, yeah, we're going to see an interest rate cut here.
3:51
Next week is going to be 1/4 of a point run.
3:55
It's not going to do that much with the housing market.
3:57
But like I've said, the past two or three months run, you know,
4:01
when interest rates gets cut, it's going to be it's going to
4:04
be the uptick for silver and gold and golds really leading
4:07
the way right now. Look gold over 26 Gold hit over
4:10
$2600 in the futures. Wow, wow, it's party time, baby.
4:17
It's. Party time.
4:18
The the other thing that's the other thing that's driving the
4:20
price is we got news yesterday the PPI, the producers price
4:25
index, which is a measure of inflation.
4:26
We aren't going to get into boring technical stuff, but it
4:29
showed that inflation is continuing to rage higher, OK,
4:33
it was higher than expected. So if we have this situation,
4:37
remember that depressing blue picture we looked at where where
4:40
we have where we have job losses.
4:44
And then on top of that, we have continued inflation and a
4:46
slowing economy. We have stagflation.
4:49
So that is, and we've been banging.
4:51
You know, Chris, how long have we been talking about
4:53
stagflation in the basement, would you say?
4:56
Three months. Three months no longer six
4:59
months. We've we talked about six
5:01
months. Well, you know we, but we can go
5:04
back. You know when when Janet Yellen
5:07
says inflation and inflation was transitory wrong.
5:10
Do you remember that line? I remember sitting there at the
5:13
computer on and and I'm screaming at the TVI said a few
5:17
choice words I which I won't repeat here on, but I remember
5:20
my grandma was sitting in the chair.
5:21
She says give her a chance. I said give her a chance.
5:23
She's lying right to her teeth. Look, we still have high
5:27
inflation and inflation's not going away.
5:32
Yeah, pull, pull out. Keep keep her keep her in the
5:35
box on. Yeah, right, Chris, don't you
5:37
dare call me any bad names. We'll keep her in her box.
5:41
Yeah, that's what's going on. But what's even crazier, Chris,
5:44
with the other thing driving this high gold price is the fact
5:48
that we got news yesterday that the government's deficit for the
5:54
month of August alone was $380 billion.
6:00
Now, I know you have a, a deep, what is it, an Ozark MO Ozark
6:05
accent. But this is from this is from
6:09
one of my favorite places. Hold on here.
6:13
Here it is to get news. This is from the Arkansas
6:19
Democrat Gazette. Is that one of your favorite
6:22
newspapers, Chris? No, Sir.
6:24
OK, well, nonetheless they report to us the US budget
6:27
deficit for fiscal 2024 years, $1.9 trillion.
6:34
That's also what is absolutely driving these higher prices in,
6:39
in, in gold and silver, precious metals in general.
6:43
One, one year, OK, August alone we got this was the news
6:47
yesterday. The month of August alone, the
6:50
government's deficit was $380 billion, on track for an annual
6:56
rate of almost $2 trillion. But what's what's shocking about
7:01
this number, this 380 billion for the month of August alone
7:07
was that last year in August, the deficit was only $90
7:11
billion. So the government is just is, is
7:14
by by definition spending creating, however you want to
7:18
say it, more money making the dollar go down in value.
7:21
And as a result of that, we're seeing higher prices and silver
7:25
and gold. Absolutely.
7:27
And that's why I've been Tooting the horn.
7:29
You've been Tooting the horn, others have been Tooting the
7:31
horn. You know, you had a great
7:32
interview with Lynette Zane yesterday.
7:35
You know, I mean, she she's great.
7:37
I mean, we all been trying to sound the alarm here.
7:40
And you know, I've said about a month or two ago, Ron, this
7:43
we're going to have a September to remember while wait to see
7:46
what happens next week when they do hot rates.
7:49
You know what? See what happens.
7:51
Yeah, it's going to be interesting.
7:52
I mean we're at record all time highs and we're going to get to
7:54
44 dollars silver. I'm going to talk about that in
7:56
a little bit as. Well, I just have to ask you,
7:58
Ron though, why you had toilet paper in your hand for her?
8:02
Right Las Vegas toilet paper our old friend Richard from the UK.
8:06
So Lynette brought Lynette Zhang brought up something that was
8:09
just rocked in my world. I'd never thought about.
8:12
She was like the Fed by their design, even on their own charts
8:17
says that this goes to 0. This goes to 0 and think about
8:21
think about I never thought about this Chris.
8:23
It's, I mean, the Fed, their mandate is to keep inflation at
8:29
2%. Their, their stated goal is for
8:32
this, their goal is for this to go down in value by 2% per year,
8:38
even if it's just 2%, right. And we know that inflation has
8:41
been as high as 8910. Some people say 18% or last few
8:45
years. But even if they keep this this
8:48
going down just 2% per year, eventually it goes to 0, even at
8:53
2%. I mean, does it make any sense?
8:56
Why would anyone want to hold on to these things?
8:59
Well, what? Well, look what that buys.
9:02
You know, that $1.00 bill, What does it really buy It?
9:04
Don't even buy yourself a candy bar.
9:06
No, there's no more on. I mean, you know, I'm sure you
9:09
remember the days. Ron, you're a little bit older
9:10
than me. Maybe your parents are, you
9:12
know, can remember, you know, they used to get a candy bar for
9:15
a nickel. I mean, you know, I remember,
9:18
you know, in the 90s, Walmart, they were $0.33 for one.
9:22
Now they're like like a buck O $9.29 everything.
9:27
Everything was 1/4 when I was a kid.
9:29
Video get Donkey Kong cost a quarter.
9:31
Soda out of a soda machine cost 1/4.
9:34
A candy bar cost 1/4. I mean, I was born in the 1970s.
9:40
You know, I was always mostly interested in giving my money
9:43
away to charity. But when I would spend a little
9:45
on myself, it was, you know, candy bar.
9:49
Everything was 1/4. And that same quarter will buy
9:53
you the same goods and service today than it did in the 19th.
9:59
And this shows not you got some big warnings that we're going to
10:02
give to people. I want to remind everybody
10:04
warnings and we're going to talk about 90% silver.
10:06
But since we're on the subject of this thing, the other thing
10:10
when I was talking with Lynette that that that we revisited that
10:13
I think a lot of our viewers know.
10:15
But just so our viewers who don't know know this the Federal
10:18
Reserve. Where can I get Jerome out for a
10:21
second? Chris Hold.
10:22
On go ahead. This will be quick, right?
10:25
We talked about this earlier. We're in a recession and we have
10:29
inflation. Jerome is in a box, but the
10:33
Federal Reserve is not part of our government.
10:38
It was created by an act of Congress, but it's officially
10:41
not part. The federal is very confusing
10:44
because everybody thinks, oh, it's part of the government.
10:46
No, it's not part of the government.
10:48
And it's not owned by the American people.
10:50
It's owned by the member banks, essentially.
10:54
It's very confusing, very purposely made, very
10:57
convoluting. But at the end of the day, the
10:59
American people don't own the Federal Reserve.
11:01
It's a privately owned bank from what I was able to discover, and
11:05
owned by the member banks. So think about this.
11:07
Who's the Fed looking out for, right?
11:10
They're going to, they're going to look out for the banks.
11:12
They're owned by the banks, wouldn't they?
11:14
I mean, it's, it's, it's, it's really, you know, on the,
11:18
there's a book, The Creature of Jekyll Island, but the whole
11:20
thing was created in secrecy. And I always want to go back and
11:24
darn it, I wish I'd had it. I can't pull it up now, but I
11:27
got a slide that shows Woodrow Wilson.
11:29
He was the president that signed the Federal Reserve into
11:33
existence. And like five years later,
11:35
there's a quote from him where he's like, I am the most
11:38
depressed man in the world. I ruined my country.
11:41
And I'm going to, I'm not quoting him, but basically he
11:43
said, I ruined my country by, by helping create this Federal
11:47
Reserve. The government is now, the
11:49
country is now run by a few wealthy people and corporations.
11:54
And what did Thomas Jefferson said?
11:56
Like the big, bigger, bigger threat to the United States
12:00
isn't an invading army. It's big central banks, big
12:04
banking interest by I, I got off on a tangent there.
12:07
I apologize, Chris. You did, but that's that's all
12:11
right. Anyway, look, this is paper.
12:15
This is going to 0 this my friends, I love showing this
12:21
because I had somebody, a guy in Florida sent this to me.
12:23
This see that? That's an old dollar.
12:26
It says silver certificate. This was when the dollar was
12:30
real. See down there on the bottom it
12:33
says see if it focuses OK, $1.00 and I can't read it in silver
12:42
payable to the bearer on demand. That part right down there at
12:45
the bottom, that's a real dollar, right?
12:47
And I'm trying. I can't.
12:48
Oh, here it is. This is from 1935.
12:52
Wow. And from 19 and from the year
12:55
from 1962 and before, if you would have took that into any
12:59
bank, they would have gave you a Morgan dollar or a piece dollar
13:03
back in the day run. Yeah, these things and that
13:06
piece, dollar and all Morgan dollar is heck a lot worth more
13:10
than a dollar. These things, right?
13:12
Those things, yes. These worthless, right, man,
13:16
there's nothing. I mean, when you hold these in
13:19
your hand, the prettiest coins in the world, my opinion.
13:23
Morgan's look at that right? And you compare holding that in
13:27
your hand. Whoa, I just dropped it.
13:32
Go and drop, go and drop 35 bucks or so on.
13:35
I dropped I dropped it on my computer keyboard.
13:38
I'm surprised. I mean, it's real.
13:39
I'm surprised it didn't break anything.
13:42
You know, I got a new video coming out also.
13:43
I mean, I was joking. There's new, there's a crazy new
13:46
technology with silver that is just being invented or or
13:52
discovered right now. Chris, that silver and I, I will
13:56
not go down this tangent, but it's actually self healing on
13:59
like a nanoparticle level. They did these Chinese had had
14:02
published this research where like super thin layers of
14:06
silver, if you like poke a hole in it, the hole will actually
14:10
heal itself. And they're saying that's yet
14:13
another incredible use for our good friend Silver so.
14:18
Service used in everything. Service used in everything
14:20
wrong. We all know.
14:22
I mean, you know, your cell phones, your laptop, so I mean
14:25
your electric panels, we the list goes on and on.
14:27
New car batteries, you know, there is a service shortage out
14:31
there. And that's, you know, some
14:33
people may not, you know, say, oh, there's plenty of service
14:35
out there. Well, when when the banks start
14:37
crashing down, Ron, and when people really start panicking
14:41
out there, it's going to be gone and it's going to be gone so
14:45
fast, 72 hours, it's going to be gone once again.
14:49
And other people with that. People need to remember what
14:54
you're talking about is a silver shortage.
14:57
And people need to remember it happened so much quicker now
15:00
because of technology, people's ability to buy gold and silver
15:04
online, right? And also the people's ability to
15:08
communicate so much faster with each other.
15:11
It can happen. So I mean, it's not just people
15:13
showing up at your coin shop. And I know you're going to share
15:16
with us here a story about what you saw yesterday at the coin
15:19
shop, which was pretty darn crazy, right?
15:22
But people don't have to go to the coin shop and line up.
15:26
They can line up virtually online at any number of big
15:30
major online bullion dealers and they can wipe it out in an hour,
15:34
right? I mean, they really can't.
15:36
Exactly. You know, I'll tell you what
15:39
happened. Yes, they at the shop, yes, they
15:42
were on. We sold over $130,000 worth of
15:45
silver and gold. I mean, we had a line out the
15:47
door. Normally I'm not there too much.
15:49
You know, I've normally work from home, but you know, I do
15:51
the bigger orders. But you know, I, I, I just had a
15:54
hunch yesterday. I was looking at the numbers
15:56
before we open up. I said I got to get down there,
15:57
there's probably going to be a line.
15:59
And it was steady all day long. I mean, we had one woman come
16:04
in. She sold 13 tubes of Silver
16:06
Eagles to restaurant and she wanted to go buy Bitcoin.
16:10
I'm not going to go down that road.
16:12
And she was her. It was her choosing.
16:14
But you know, that was only the really the biggest sale.
16:16
We had just purchased 2 days ago, 3000 Mercury Dimes.
16:22
They're all gone on in two days. Gone.
16:26
Our silver half dollars are just about gone.
16:29
We got another couple, $100 coming from the bowling dealer
16:32
today that may not even last until tomorrow.
16:37
People are coming in and it's funny.
16:40
Price goes up, people want it, price comes down, nobody wants
16:44
it. I mean, it's just funny.
16:48
That's why I always say, and you say, Ron, cost average is key.
16:53
You know, cost average key. And some people don't like that
16:55
statement, but you know, you know, I've, I've done a lot of
17:00
silver buying when it was about $22.00 an ounce the spot that
17:04
the futures price. I'm glad I did grab in a lot
17:07
when it was that. I'm slowing down a little bit
17:09
now. But when I see a deal out there,
17:12
I'm still grabbing it up. And that's what I know.
17:15
It's not advice. I'm not trying to give advice to
17:17
anybody wrong. And you don't do that either.
17:20
But it cost average is just key. Yeah, I.
17:24
Get, I get messages from people all the time saying, you know,
17:28
oh, I'm, I'm going to convert all my money into silver or all
17:31
my money into gold. And, and I don't give financial
17:34
advice, but I say that's not a, you know, you're taking a big
17:37
risk because, you know, if the price goes up from where you
17:41
bought it, well, that's great. You're going to be real happy.
17:43
But if the price drops, you know, by 5 bucks an ounce for
17:46
silver, excuse me or something like that, you're going to be,
17:50
you're going to be hurting, right?
17:53
So that's what I, but I'd also say, right, we're not giving
17:55
financial advice. Hey, Chris, what do you say we
17:57
run out and check on the gold and silver price?
18:01
Let's do an update right now. Great time to say thank you to
18:04
our channel sponsor Pinbecks. They make this live stream video
18:08
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18:12
silver, and platinum group metals.
18:16
Do yourself a favor, if you're gonna be online looking to buy
18:19
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18:25
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18:28
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18:30
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18:34
most critical points. They're a company that I know I
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can trust. Do your own due diligence to
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have your own experience with them.
18:41
But I can tell you that from the basement dweller community,
18:44
we've had overwhelmingly positive response.
18:46
Here's their website, pembex.com.
18:48
Chris, I'm going to press the button here and let's see.
18:52
Oh my gosh, Chris. Gold is up 20, $2.71.
18:57
Silver is up $0.79. Chris, are you there?
19:01
Did you fall? Did you have a heart attack?
19:02
Did you have a heart? Attack.
19:04
No, I mean, it's like I said, we're going to have a September
19:07
to remember. I've been telling that for the
19:09
last two or three months. And I said once, once they start
19:13
cutting rates and we know that now they're going to cut rates.
19:15
We, we just, we just know that's going to happen, you know, and
19:20
you know, they might be doing for reasons for the upcoming
19:23
elections, whatever. But, you know, we can't keep
19:27
forwarding, You know, we're paying $1 billion a month in
19:31
interest alone, Ron, on the debt and interest boom gone, goodbye.
19:36
You know, and it's, you know, we're, they don't care about
19:40
inflation at this point. They're just trying to protect
19:42
the banks. And I think it's too late going.
19:45
I think we're going to have, we're going to see more bank
19:47
trouble I think in October. Yeah, well, don't forget the
19:50
Federal Reserve is owned by the banks.
19:53
Who do you think they are interested in protecting?
19:56
Who do you think they are beholden to?
19:58
The. Banks.
19:59
Yeah. Yeah, You know, they don't give
20:01
a, they don't give a key about the American people one bit.
20:05
I'm sorry. You know, they just don't.
20:08
All right, let's go. I want to cover quickly just the
20:11
this this article from Reuters and then you've got some big
20:14
warnings for for 90% silver investors and just another
20:20
general warning as well and a great story.
20:22
But let let me just I just wanted to point this out.
20:24
What does it mean, we have to ask ourselves when we start to
20:27
get mainstream media coverage of gold and soon silver.
20:34
But here we go from Reuters. This was yesterday a Reuters
20:37
headline story. Gold hits all time high as Fed
20:41
rate cut helps bolster appeal. And we're just going to run
20:46
through real quickly basically. And they're they're saying what
20:49
we're saying, right? The PPI number, the end that's
20:52
the producer inflation number was up.
20:56
U.S. jobs claims, jobless claims were up, signaling weakness in
21:01
the job market. OK, so we've got now the, the,
21:06
the, the mainstream media telling us gold is on a tear.
21:11
I mean, if we get the smallest trickle of new people in here,
21:13
Chris, look at all the people that are joining us now.
21:16
We've almost got 600 people. Welcome to the basement,
21:19
everyone. I forgot to say we appreciate.
21:21
Yeah, welcome. We appreciate you being here,
21:24
right? You're part of the group.
21:25
You're part of the club, right, Chris?
21:27
Is everybody welcome here, would you say?
21:29
Yes, absolutely. Maybe even yourself.
21:33
That's. Right, So thank you for being
21:37
here. Please subscribe to the channel
21:40
Ron's Basement, but also check out our guest coin shop Chris,
21:43
who has the fastest growing precious metals YouTube channel
21:47
on the face of the universe and it's called Coin shop Chris.
21:51
Just go on the YouTube search bar, put that in and make sure
21:55
you subscribe to his channel as well.
21:57
Our our content really complements each other.
21:59
Chris is a much more in tune with the with the numismatic
22:04
side of things, the 90% side of things things I cover a little
22:07
more macro. So together we just make a
22:09
dynamic duo and we're happy you're here again.
22:13
Thank you. OK, so that's what's going on
22:16
with with. Yeah.
22:18
You're welcome, Chris. Now I want to say one more thing
22:21
then I'm going to let you tell your stories.
22:22
OK. But inflation rules the day.
22:26
Get it? Look, look, if you're a silver
22:28
and gold investor and you're wondering is, is, are gold and
22:32
silver going to stay as high as they are?
22:34
And then I'm making fun of myself when I say that I don't
22:36
know. You know, there there's one
22:38
thing in the coming years that that that is going to be the,
22:42
the, the kingpin and make the gold and silver precious metals
22:47
prices explode and that is inflation.
22:50
Jerome Powell has lost his mojo. OK, sorry, Charlie and my coin
22:56
shop Chris said, I'm going to show you why Jerome Powell lost
22:59
his mojo. And that is this thing right
23:01
here that we have to look at everyday.
23:03
I mean, almost 35 trillion, almost 400 billion.
23:08
And as Chris said down here, national debt, interest expense
23:12
on debt is now 942 billion per year surpassing what we're
23:19
spending on National Defense soon to surpass what we spend on
23:22
Social Security and Medicare as well.
23:25
And since we're here, Chris, do you mind if I look at the paper
23:28
to silver ratio quickly? It's probably 428 or so.
23:34
Paper to silver ratio is at four O 5.
23:37
Oh my gosh, no, four O 5. So that's the number of paper
23:41
Unicorn fart dust comex make believe La La land fantasy
23:45
island ounces of silver that are traded for each one that's
23:49
produced. What I really wanted to look at,
23:50
I misspoke is the dollar to silver ratio, which has exploded
23:56
now. Just the other day it was like
23:58
480. It's at 5:23.
24:01
That means there are 523 new dollars being created through
24:05
the M2 money supply, 523 for each one ounce of silver that's
24:12
being produced. Absolutely crazy.
24:14
So wow, I remember that was at zero.
24:17
I don't know if you remember that, Chris, for, I don't know,
24:19
eight months ago and everybody was freaking out and now it is
24:22
just continuing to skyrocket. I mean, what does that, what
24:26
does that tell us alone? There's 523 new dollars being
24:29
created by the United States government fed whatever for each
24:34
one ounce of silver. Hello.
24:36
That just means, that just means Ron, that your prices are not
24:40
coming down. When you go out to eat with
24:42
Susie, your $4.00 soda will become $5 solar, the $6 soda,
24:47
That's what it means. We're going in hyperinflation.
24:50
That's and when people, when, when most people realize that
24:56
and the ones that do have the silver and gold are going to be
24:59
very, very happy. But my, my main warning is, and
25:03
it's not financial advice, don't trade your silver for dollars
25:09
unless you absolutely need to right now.
25:12
You know, there's no, there's no sense of doing that because what
25:15
are you going to use the paper for put in the bank?
25:18
I I see people come in saying I'm cash out, going to put the
25:21
money in the bank. Yeah.
25:23
OK. So you're.
25:24
So, so you're, you're on the street every day right at the
25:28
coin with the coin shop. You're feeling what's going on.
25:32
You told me a story about a person who recently came into
25:35
the coin shop and it's actually very heartwarming story with,
25:38
with the 50 Cent pieces. Will you share that with us?
25:41
And then, and then we're going to issue some stern warnings to
25:45
the general Silver investing community.
25:49
OK, this guy came in, he had $300.00 of Franklin half dollars
25:56
and so we tried to get his phone number.
25:58
He didn't want nothing to do with.
25:59
He said no, they're all Franklin's and there's nothing
26:01
special in there. I just don't want to be on this
26:03
contacted at all. So he refused to give us his
26:07
phone number. So when we were looking through
26:10
them, we found a nineteen O 1 S Barbara half.
26:15
It was probably about AU shape and that and that rating Ron
26:20
into your views out there that's worth about $2300 and 2352
26:25
thousand 350 bucks and was like, how are we going to get a hold
26:29
of this guy? Wow.
26:30
We we we got some contacts together.
26:33
We had camera views of different, you know, from his
26:36
license plate. So we were able to pull the
26:38
information from his license plate and call the guy.
26:41
The guy was heed off to be honest with you, you know, But
26:44
we told him this, this is what this coin is worth and we gave
26:48
him a couple. He was teed off.
26:50
He was teed off when you called him and then did he come back
26:52
into the shop and scream or anything?
26:55
He came back in the shop. He was very loud.
26:57
He didn't swear. He didn't cost, I mean, but you
27:00
know, he was very irate that we even contact them.
27:03
I told I don't want people know where my live.
27:04
I says we're not going to give your information out.
27:08
I don't care where you live. I don't care how much silver and
27:10
gold you have at the house. I'm not coming after your silver
27:13
and gold. We're not releasing any
27:14
information. No, he, you know, he finally
27:18
calmed down and we were able to explain to him what we could
27:21
offer him at that time. Or we send it in to NGC and
27:26
saying I would wait, pay for the grading fee, pay for the $25
27:31
paperwork fee. And when it comes in, we can
27:34
make you a fair offer. But Please note we have to sell
27:37
it to another coin shop because we don't deal in high end graded
27:41
coins like this. And so I said, oh, I can pay you
27:46
a flat rate of $1100 now because that's what I feel comfortable
27:49
paying you now. He said, well, why can't you pay
27:51
me that $1500? You might be able to pay me.
27:54
I said we don't know the grade for one, it could come back and
27:59
an extra fine 4849. It could come back as an AU 52.
28:03
You know, I said normally when we grade stuff in the shop, it's
28:06
not a professional grade, it's an average grade and we will see
28:11
what NGC says and we would base off prices on that.
28:15
So my advice would be is send it off.
28:19
We will call you back when it comes in and we'll make you a
28:21
fair offer, OK. So I mean.
28:24
So my other warning to that is. Wait, wait, wait, wait, wait,
28:27
wait, wait a minute. Coin shop.
28:29
Chris, I just want to make sure we got this clear.
28:31
So this guy came in with a bag of junk silver, right that he
28:35
would just wanted to sell to you and it was all 50 Cent pieces.
28:40
You gave him the price or you know the price of what the junk
28:43
silver was worth. Then as you guys were going
28:45
through what he dropped off, you discovered that there was a coin
28:49
in within that junk silver that maybe what What do you get for
28:54
each 50 Cent piece of junk silver of how much?
29:00
We're we're paying 1175 at today's prices.
29:05
So you gave him 1175 and one of those coins in there was, you
29:08
think, potentially worth as much as $2300.
29:11
You discovered you'd paid him 12, roughly $12.00.
29:18
And then you went through the trouble of tracking this guy
29:20
down to help him out. Do you think most, I mean, I'm
29:25
not, I'm not asking you to bash anybody or in, but I just don't
29:30
think that most coin shops would do that.
29:32
I am I wrong? I mean, I think.
29:33
That there's a. Handful of coin shops that would
29:36
do that. But I think, and I'll be honest
29:38
with you, if I were in that position, I would be tempted.
29:44
I don't think most. Do you think most coin shops
29:46
would do that? No.
29:47
And we and we didn't have to do that either because he clearly
29:51
said, I don't want nothing to do with this after I sell this.
29:55
He clearly said this. Yes, we could have said, OK,
29:58
it's a win for the shop. The guy lost his money.
30:02
And no, most coin shops, to be honest with you, no, they
30:06
wouldn't take the time to track somebody down.
30:09
No, absolutely not because of what he said to us.
30:13
Let me. Reiterate, let me let me
30:14
reiterate something to our to our viewers who are with us too
30:17
here. Coin Chef Chris is not trying to
30:19
sell you anything. We're not.
30:22
I'm sponsored by Pinbeck. So just so you know, this is not
30:26
Chris is not telling the story because he's not trying to sell
30:29
anybody anything. So anyway, go ahead.
30:31
I apologize. So, I mean, yeah, to answer your
30:35
question, no, we, we didn't have to tell this guy.
30:37
You have to track this guy down. You know, we went above and
30:42
beyond what we had to do. But, you know, it's the right
30:45
thing at the end of the day. It's the right thing to do, you
30:48
know, and after, you know, it's the right thing to do.
30:51
Yeah. The shop could have made, you
30:53
know, the owner could have made another, you know, quite a bit
30:56
of making over 2000 bucks off this coin.
30:59
Yeah. No, no.
31:00
No joke. So what's the big lesson in
31:02
this, Chris? The big lesson, the warning on
31:06
this is if you're selling, especially your junk silver.
31:10
I've said this before and you're take it in Ziploc bags by
31:17
decades, but all the 60s together with the Dimes, but all
31:20
the 60s to quarters with the Dimes and so forth.
31:24
And that way, if there is a rear coin that you might not know you
31:28
have in that bag, the deal will go through those bags, you know,
31:32
looking forward, those key dates in those bags.
31:36
And they be a lot easier for everybody to get their money
31:43
upfront right then and there instead of having to track
31:45
people down. And this is not the first time
31:48
this has happened, Ron. This has happened a couple times
31:50
this year already. It's real.
31:52
OK, Chris. Chris, that's How I Met you
31:55
early on in our relationship. We hardly knew each other.
31:59
And then you sent me an e-mail about, hey, some guy brought in
32:03
a gold coin, if I remember, like a one ounce gold coin.
32:06
I think gold was about 2000 an ounce back then and and you had
32:10
the same situation unfold and sent it off to get graded and he
32:14
just wanted to sell it for melt value basically and you said
32:16
whoa or it was a woman if I remember correctly.
32:19
It was a woman. Yeah, and you sent it off and
32:22
you said wait, let's. And it was wound up being worth
32:24
how much, in the end, that coin do you remember?
32:29
That one, that one, it was actually a 1916 D walking half.
32:33
That was another half dollar and I I think that was over like
32:38
$14,000. Wrong.
32:41
I mean because it was. I mean, it was, you know, it was
32:44
another one that she dropped off, but she did give us her
32:47
phone number, right, right. And then, you know, she it was a
32:53
silver. It was a silver walking half
32:54
dollar 1916 D and I think it was over like 14,000 bucks, you
32:59
know, and it just goes to show, you know, you know, we got to
33:04
check our junk silver. So if anybody's older out there
33:08
and has a lot of, you know, junk silver, you might want to go
33:11
through your bags and see if you have, you know, I don't know if
33:14
you got your coin book there on, but you know, I recommend
33:18
picking one of these up, you know, every couple years.
33:22
You know Ron's got the 23, I got the new 2025 and really for 15
33:27
bucks on Amazon and there's no link here really, but you don't
33:31
need to buy 1:00 every single year because the price is
33:33
really. Cool, I'll put a I'll put a link
33:36
in the description of the video to the Amazon when we're done.
33:40
OK. OK.
33:41
Thank you. So what I'll OK, so so check
33:44
your silver. I think especially if like you,
33:48
if if like you get a bucket of of silver or whatever container,
33:52
whatever floats your boat that came from like grandpa or great
33:56
grandpa who saved all the silver coins.
33:59
I think even I mean, for the most part, I think junk silver
34:02
that you bought from coin shops is going to most likely have
34:06
been gone through to make sure there was nothing.
34:08
But if it's like, you know, an old vase or whatever, you know,
34:13
wherever grandpa used to save, man, really check that stuff
34:16
because you don't know what that could be worth, right?
34:20
Well, exactly, and there's stories out there on and just
34:24
let your viewers know there's stories out there.
34:26
When people buy from these online bowling dealers, you
34:29
know, they just don't happen often because they do do a
34:32
pretty good job of checking their stuff out too.
34:35
But there are sometimes I've heard they buy them from these
34:39
online bowling dealers and they get a rare date in there rolled
34:44
all their bags. It it does happen.
34:46
It's because they're, people are actually searching through
34:49
these, I believe. And you know, when you're
34:52
searching through a lot of these hundreds and hundreds of these a
34:54
day, and you miss some, you miss some, you just, you know it.
34:58
It just happens. What about?
35:00
And my other warning is, is you know, 90% silver is going to run
35:05
out eventually. And when it's gone, it's gone.
35:08
And yeah, we having a high price right now of silver right now,
35:13
this cost averaging, you know, that's what I'm doing.
35:15
I'm getting a little bit here and there.
35:18
And and that's what I tell the people at the shop that I work
35:21
for. Ron what?
35:22
What are you, what are you, what are you hearing as you're as
35:25
you're trying to buy it for the shop?
35:27
Is it, are you finding it? Is it?
35:29
Do you think there's a shortage? Junk silver, buying junk silver?
35:35
Can you hear me? Hello, Chris.
35:41
Hello. Hello.
35:42
OK. Well, we lost.
35:46
Are you? Are you, when you're buying, OK,
35:48
so when you're, when you're trying to buy junk silver for
35:51
the shop that you can then sell to customers, are you sensing as
35:55
you're talking to your wholesalers, as you're out
35:57
there, are you sensing that there's stress in that market
36:00
still? We a couple weeks ago we thought
36:03
there, you know, it felt like there was stress.
36:04
Is that still the case? OK guys, looks like we lost coin
36:10
shop Chris, but we're going to thank him for being here.
36:13
And are you back, Chris? I'm back.
36:18
Are you, we're going to try one more time?
36:21
Are you, are you sensing that there's stress in the 90% market
36:25
as you're trying to get more silver for the shop?
36:28
Absolutely. I mean the, our bowling dealer
36:31
is really zoning in on with us because we're having the most,
36:35
we're selling the fastest of all his coin shops he sells to.
36:39
And there's another couple shops in the area are having trouble
36:43
getting it too. And he's trying to split up the
36:46
loads, but these loads are coming in to him.
36:49
It's smaller and smaller and smaller.
36:53
So, I mean, I don't know where he's getting it all from, but
36:56
he's saying, he says it's very hard to get what he needs to
36:59
cover all his shops wrong. I I, I don't know what to say,
37:04
but I mean, yeah, you know, I see people in my comments, I see
37:07
people in your comments wrong really saying this enough at
37:11
their shops and they can get that melt.
37:14
If you can get that melt, grab it up as much as you possibly
37:17
can. That's it.
37:19
I mean, OK. All right, I want to go to a
37:21
viewer comment here. I read all the comments.
37:23
I feature one on every live stream.
37:26
Hopefully you can see the comment.
37:27
Do you see that up on the screen?
37:28
Chris right now. You can or cannot.
37:31
Yes, I can. OK, you can.
37:33
So, so a lot of our viewers, including I think even us,
37:36
right, all of us basement dwellers, we wonder like, is our
37:39
silver and gold really going to protect us?
37:42
And this is a, this is a comment from Eagle.
37:44
As he said, inflation has been rampant since Nixon took us off
37:48
the gold standard. Inflation, inflation has been
37:51
less than today and more than today in the past, but it has
37:55
never gone flat, right? Inflation is never gone flat or
37:59
negative, which would be deflation.
38:01
It just continues, which is what we talked about earlier that
38:05
right, You know, like that no matter what, every year the
38:08
dollar loses value. Eventually the dollar is going
38:12
to 0. It's impossible for it not to,
38:15
right? I mean, does that make sense?
38:17
That makes sense. The purchasing power of our
38:20
dollar has eroded. Example, I bought AI bought a
38:23
large new home in 1973 for 25,000.
38:27
Gold was then 125 per oz. Today average new home is just
38:32
under 500,000 and gold is 2500 an ounce.
38:35
In both cases 200 ounces of gold bought the home.
38:40
This is the classic example of gold being a wealth preservation
38:44
tool and I think we can say the same thing for our friend silver
38:49
as well. Would you agree, Chris?
38:51
That's a great comet yes you know you know that's a great
38:55
comet. I mean it's it yes Silver and
38:57
gold look, you know silver is wrong.
39:00
The past year. I pulled his numbers this
39:02
morning at 8:49 my time this morning Silver year, the past
39:06
year up 31.27% gold over the past year, 34.42%.
39:15
Hello, I mean, that's a pretty good, you know, on on your
39:20
returns of you got if so, if someone bought gold and silver
39:24
to today last year, you know, you're up big time.
39:29
We're up big time. You're doing, you're doing,
39:31
you're doing pretty good. But that's also, but keep this
39:35
in mind before we go. Keep this in mind.
39:37
That's based on dollars too. So I mean.
39:41
I want to say thank you to our channel sponsor, First Mining
39:44
Gold, Canadian gold developer with two multi million ounce
39:47
projects in Canada. I've got a video coming out this
39:50
weekend where I spoke with Keith Neumeyer.
39:52
He's the founder and chairman of the company.
39:55
He has a really positive perspective on what's going on
39:58
with that company. I'd encourage you to watch that
40:00
and Fortuna Mining. There are gold and silver active
40:04
mining company major operations in Latin America and West
40:09
Africa. Chris, I got to ring the
40:11
cowbell. We had a bang up, I think record
40:13
amount of people for us. Hold on a second.
40:17
Susie's calling me. Hold on here.
40:20
Yes, a guest. Above one of your sponsor signs.
40:25
I what? I what?
40:26
A guest. A guest?
40:30
Oh, yeah. We have a special guest too.
40:31
Hold on. Here's the cowbell.
40:35
Hold on a second. Hold on.
40:37
One second. What are you talking about?
40:41
Pippi the cat. Chris, are you still there?
40:44
Yes, I'm still here. What, Susie?
40:49
Turn around and look above the Fortuna sign.
40:53
OK, look. Above the Fortuna sign, I don't
41:00
see anything. I don't see anything, Susie.
41:03
Susie looks like it's a cat. Cat on top of the box.
41:08
I got that with Casper. All right, hold on, let me go.
41:11
Look, Chris, I'll be right back. No, I don't see any cats.
41:22
Oh, looks like it's me too I guess.
41:25
I'm Yeah, I think you are delusional, OK.
41:29
So that makes two of us, because I really thought there was a cat
41:31
up there too. Where on the steps.
41:34
No, I'm behind the four, two and the sign.
41:36
That's what it looks like. Yeah, no, there's no you guys
41:40
are all delusional. Hey, that's me.
41:44
At least at least I'm not a slick silver quarter.
41:47
That's that's right. I want to I want to run out here
41:50
everybody, please thank you everyone for being here.
41:53
Don't forget go out here to YouTube coin shop Chris OK, he's
41:58
starting out and growing like crazy got some great videos.
42:02
You can check out all silver gold warning.
42:05
Look at all these mad rush for gold and silver.
42:07
So be sure to go out and check out Coin Shop Chris and.
42:11
Thank you everybody. Yeah, Thank you, Chris.
42:14
Thanks for joining us today. Thanks to everyone who joined us
42:16
on this. Hey, Chris, wait a minute, wait
42:18
a minute. We need to go check the gold and
42:20
silver price and see See, you never know guys, right?
42:24
We could be red, we could be red.
42:26
Let's check it out. See where we?
42:27
Are. I don't think so.
42:28
Gold's up $15, silver still up $0.63, so we'll take it.
42:33
We're happy. Let's hope it holds out through
42:35
the rest of the day. Even at that level, we'd all be
42:38
very grateful. We're very appreciative to each
42:40
and everyone of you who joined us today.
42:43
We're appreciative to Coin Shop Chris for joining us today.
42:47
Please subscribe to the channel, go check out Coin Shop Chris.
42:50
Most important, you be good to yourself, right?
42:53
You deserve it. We all deserve it.
42:55
And we'll look forward to seeing you next time.
42:57
Thank you and bye bye. Thank you everybody.