Latest / SILVER / GOLD / $UFD Meme Coin Investing & Global Economics / **Silver STUCK!** 🦍🦍 You Best LOOK for THIS Soon! - (Precious Metals Gold Price Update)

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**Silver STUCK!** 🦍🦍 You Best LOOK for THIS Soon! - (Precious Metals Gold Price Update) · SILVER / GOLD / $UFD Meme Coin Investing & Global Economics

0:01
$100 silver by July. How do you feel about that?
0:05
I think we're going to get it. But another top analyst is out
0:09
predicting $100 silver by July and $200 silver by year end.
0:16
But right now we're stuck in 76, right, $76 silver.
0:21
What are they doing Is silver respecting the bicentennial, the
0:24
1776 of the United States? We're going to talk about that
0:28
and we got a lot more to come. We've got the big buyer behind
0:32
silver. This is interesting.
0:34
Who's actually buying all the silver right now because we know
0:38
it's not the retail investors in the United States.
0:41
We've also got Turkey. Oh my gosh, wait till you see
0:45
what's happened to silver in Turkey and what's happened to
0:49
the Turkish lira. And of course, oh, we got big
0:51
warnings about a big scam. We got a lot more to cover.
0:54
The most important thing that we together US need to cover right
0:58
now is welcome to the basement. We are basement dwellers.
1:03
Why? Because we believe in the future
1:06
of gold and silver. Because we understand history
1:11
and we understand basic mathematics.
1:13
Let's go take a look at what's going on with the silver price.
1:17
It's OK, guys. You're going to feel better.
1:19
Yeah, we're stuck at $76 silver, and that's just fine for now.
1:24
Let me show you why. When we go out to the chart of
1:29
silver, we see this very clearly.
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I put a red line on there right at 70.
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Nope. That that changed.
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Hold on, let's redo that. We'll do a line right here at
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$76 silver. Now look at this.
1:45
OK, shoot, hold on here. Here we go.
1:48
We'll do that one more time. Third time's a charm on a
1:52
holiday Tuesday morning. And we will then look at this.
1:57
Right, since the big run up to 120.
2:00
Look at 76. Do you see it?
2:02
It's right there. It's like a magnet holding
2:04
silver. Now, I understand.
2:06
I get it. It's frustrating.
2:09
OK, stare at that chart for a little while.
2:12
You know, it's been what, four months of this?
2:15
But a few days ago I was talking to bald guy Money, right?
2:18
Like the top gold and silver YouTube.
2:20
Go check him out. I'm sure you already know who he
2:22
is. And we were talking about this.
2:24
It's like anybody who's wanted to sell their silver AT727680,
2:30
whatever has sold, all the sellers are going to be gone.
2:34
Let me look you in the eye. If you wanted to get rid of your
2:39
silver in the mid 70s, bye, bye, it's gone.
2:42
See you guys later. It's been replaced with people
2:45
who are strong handed. A lot of those are in China, OK,
2:49
and India and Singapore and Hong Kong and everywhere else,
2:54
although Hong Kong is a part of China, OK.
2:56
But remember, it takes patience to play out.
2:59
It will play out. And you know what, Even if we go
3:03
another month, we used to say 7250 was the line in the sand.
3:08
But if we stay above 747576, the longer we do that, the stronger
3:14
the base and the stronger the base.
3:16
The longer the base, the bigger the breakout will be to $100
3:20
silver, which we're going to talk about a little while.
3:22
But we're going to shift over to gold for a minute because gold
3:26
is the driver of the precious metal sector, no doubt about it,
3:30
OK? And central banks are the driver
3:34
of gold and there's a big reason why, but that's the case.
3:38
And I've got a great example to show you.
3:40
This is great news coming out over the weekend about gold came
3:46
from Hedge Eye. OK, They, they're a little
3:49
account with like 300,000 people that follow them.
3:53
It says a record 95% of central banks expect global gold
3:59
reserves to increase over the next year.
4:02
Now it's interesting when you look at this chart, OK, look,
4:06
OK, the gold is increase, the blue is remain unchanged.
4:13
That means stay the way it is. The Gray is decrease.
4:17
OK. This goes all the way back to
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2019 as you can see, right Again, the Gray is decrease.
4:25
We had a little bit of Gray in 2021, a little bit of Gray in 22
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and 23. However, in the last two years,
4:35
we have no Gray. We've got a little bit of blue
4:38
which remain, which means remain unchanged.
4:42
And excuse me, look at this. Do you see a trend?
4:51
Let's go out to here. This is the year 2030.
4:59
Anyhow, it's blatantly obvious that the world central banks are
5:02
going to continue to buy gold at least for the foreseeable
5:06
future. And I think the future and
5:08
beyond. OK.
5:10
And why do we care about the central banks?
5:13
There's one reason, right? The central banks are the driver
5:16
of the gold price right now. But more importantly, the
5:19
central banks are the most sophisticated.
5:23
Well, besides you and I don't forget the Google AI said that
5:27
the basement dwellers, that's us were very sophisticated.
5:32
But anyway, back central banks are the most sophisticated
5:35
financial institutions in the world, bar none.
5:38
They make the rules, they set the rules.
5:40
They say a bunch of BS constantly, all of them up to
5:44
and including our central bank. But what we want to do, right,
5:48
We don't want to listen to them. OK?
5:51
Be like if you had a boyfriend or a girlfriend or a spouse,
5:54
whatever, that was always cheating on you, lying to you.
5:58
Eventually you wouldn't listen to him anymore.
6:00
You would judge them not on their words, but on their
6:04
actions. And when we look at the actions
6:07
of the world central banks, what do we see?
6:12
Oh, they're buying gold hand over fist, which puts smiles on
6:17
our faces. And there's even some
6:19
speculation and a little bitty, bitty, bitty bitty proof that
6:23
they're going to start buying silver as well.
6:25
It's very, very crazy. OK, let's go now to the, the big
6:29
boys. This is hot off the presses.
6:31
I found it literally a few minutes before I started the,
6:34
the, the, the video here. This is incredible information
6:38
from a guy that I really look up to Make gold great again.
6:43
Wall Street's gold this is There's a lot of info in here,
6:47
Get ready, but you're going to be smiling more and more.
6:50
Wall Street's gold allocation rankings as of May 2026.
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OK, here's what they recommend. Morgan Stanley, 20% to gold Ray
7:01
Dalio, the founder of Bridgewater Capital,
7:03
billionaire, smartest guy in the world, 15%.
7:07
Sprott 15 to 18% the World Gold Council.
7:11
Well, of course they're going to recommend you get gold 5 to 15%
7:15
European. This is interesting.
7:18
Institutional average 5.7%. UBS OK, 3 to 7% mid single
7:27
digits. Now what do they actually hold?
7:29
We know that Bank of America Fund Manager survey tells us,
7:34
right, that only 2.4% of the world's financial assets are in
7:38
gold. Western pensions, less than 1%.
7:42
Again, guys, this is the law of small numbers, right?
7:46
If these numbers, the amount held by by the world wealth go
7:50
up from whatever it is, one percent, 2% to 8%, nine percent,
7:55
we're talking 4/5 times more money coming into the precious
8:00
metal sector. Now here's for fun, some price
8:03
targets for the end of this year 2026 JP Morgan 6300 with an
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upside potential of 8500 Wells Fargo 6100 to 6300 UBS 6200,
8:18
Bank of America 6000, Deutsche Banky 6000 and I think they're
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even saying it could go as high as 8000 Morgan Stanley 5700,
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Goldman Sachs 5400, Citibank 5000.
8:35
Look at those numbers and think about where the gold price is
8:38
right now. Think about what that would do
8:40
to the silver price. Even the most conservative
8:45
recommended allocation is five to seven X what investors
8:51
actually hold. The floor is higher than the
8:54
ceiling. People imagine.
8:56
Data was verified by Grog. OK, guys, look, OK.
9:00
The most conservative recommended allocation is five
9:03
to seven times higher. The other thing, the other key
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thing, the reason why that's so important is that that would be
9:12
new money. New money, right?
9:15
We, we're old money. Welcome to the old money club.
9:17
We're old seasoned investors in precious metals.
9:21
Those new people who we like to affectionately refer to as the
9:28
the sheeple that the sheeple, when they're coming to join us,
9:34
they are bringing new money. I mean, think about going to our
9:38
local coin shop. If anybody does that anymore,
9:41
which they do, OK, But a lot of people buy online.
9:45
Think about going to your local coin shop and the cases are
9:48
empty. Think about going out to your
9:50
favorite online bullion dealer and there's a big red stripe
9:54
across the type of top of the website that says due to market
9:57
conditions, we are only accepting orders over $999 and
10:03
shipping times are delayed to 8 to 10 weeks.
10:06
That's what it's going to look like.
10:07
That's what it's going to feel like.
10:08
But if you want to get your hands on some silver right now,
10:12
the silver specialist meant, it's like the only meant I know
10:16
of that's all they do is silver. And what's even cooler about
10:22
First meant is that they're owned by First Majestic Silver.
10:26
It's the freshest silver in town.
10:28
OK, It's mined by First Majestic in Mexico.
10:31
It goes to 1st Mint in Las Vegas, NV, where they create
10:35
these world class silver bullion products like this right here.
10:40
Do a little silver show and tell, right?
10:42
The Las Vegas round, which is the city where they're located.
10:46
And then it goes right to you. It never goes to the Comex.
10:49
It never goes to the LBMA. And it is a premium retail
10:53
experience, the best place for retail investors like us to buy
10:58
silver. Let's run out to their website
11:00
so you know where to go, but don't go there now.
11:04
Go there after the video, firstament.com.
11:07
And if you go to the top, you can check out their store bars,
11:11
rounds, personalized silver, all they do, custom minting, they do
11:15
all kinds of stuff. And as you can see right there,
11:18
they got a $2 off sale right now on their Liberty Barr.
11:22
Who is the big buyer besides you and me?
11:28
Who is the secret big buyer of silver?
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Let's go listen to Vince Lancey for about 46 seconds, where he
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shares with us exactly who is buying all the silver right now.
11:41
There's Vents. We love him, BBL's Ghost.
11:44
He's also got a sub stack, one of the most committed people in
11:48
the precious metal sector. And here's Vents shedding a
11:51
little light on what's going on right now in the silver market.
11:55
Previously, we described silver as oscillating in a pattern of
11:57
higher highs and higher lows, and the May 12th through May
12:01
14th breakout breakdown look as though it should have produced a
12:03
balancing move lower. Instead, it failed to do so, at
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least for now. That failure matters to us.
12:09
It suggests there is buying underneath the market, not
12:11
speculative buying and not random buying.
12:13
It looks more like bullion bank stock accumulation.
12:15
Someone appears to have an order to fill.
12:16
We may not know exactly who is behind it, but we do know where
12:19
much of the physical silver is ultimately headed.
12:21
China continues to demand silver, and the US continues to
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deliver it with the LME. I'm sorry, the LBMA as the
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intermediary between the point where silver enters Western
12:28
warehouse systems and the point where it eventually moves
12:31
overseas. Somebody has to accumulate it,
12:33
and that's what's happening right here.
12:35
OK, guys, it's real simple and we're going to look at some data
12:40
here in a little bit. The silver is going from the
12:43
United States to London to China, OK?
12:49
We can see. We're going to look at a couple
12:50
interesting pieces of data right now that prove that to be the
12:55
case. Number one, right now the
12:57
Shanghai Gold Exchange inventory numbers are going up.
13:02
Silver inventory up 91 metric tons last week, total silver
13:08
inventory of 835 metric tons. OK, the low in now it's going in
13:14
there. But the what's interesting is
13:17
the inventory levels are still low.
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And I'll show you this chart below.
13:21
And then we got another chart which proves this is the case.
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The low inventories in high premium over the LBMA benchmark
13:29
price. There is a gloving glowing
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demand, growing demand for for physical silver in China now
13:39
also backed up by import data. But let's look at this first.
13:44
OK, this is a chart of, and it's a little goofy to read because
13:48
of the way it looks, but I can explain it to you.
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Goes back to like 2024. This is the silver inventory at
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the Shanghai Gold Exchange. Went up, went way up here,
14:00
right? And then look down, down, down,
14:04
down. We recently had that very low
14:06
level and now it's heading back up.
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Where is this coming from, guys? It is coming from the United
14:13
States to London to China, no doubt about it.
14:18
But remember, right, there's a big premium.
14:21
We look at it all the time from the Oriental Ghost, right?
14:24
The silver price at the Shanghai Gold Exchange, which is their
14:27
spot market lately has been what, 8-9, ten, sometimes as
14:31
high as $12.00 more. But the important thing to
14:35
remember is even this level right here, right?
14:39
That level, what they say, 827 metric tons in ounces.
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That's only 27,000,000 oz. That is not a lot of silver.
14:52
Yeah, 835 metric tons. Now, here's the proof.
14:57
This is the hard data showing us what's happening.
15:01
This comes from Lucas Ukiwami. I'm going to make this bigger so
15:04
we can see it much easily. More easily.
15:08
Much more easily. OK, China is draining global
15:13
silver inventories at unprecedented rates.
15:16
We're going to look at this chart first.
15:18
This is the UK. That's the LBMA silver imports.
15:23
Where is it coming from on the lower right corner, the United
15:27
States? I mean, look at that blue bar,
15:31
right? We are sending all of our silver
15:34
from the United States to the UK to the LBMA.
15:39
But wait, there's more because if we Scroll down, then we can
15:43
look at United Kingdom silver exports.
15:48
So we send them the silver to the UK and then where do they
15:53
send it? Right here OK And where is right
15:57
there if we look down here that is Hong Kong nice covered over
16:03
it hold on I'm OCD we'll do it again that is Hong Kong guys
16:08
there's no doubt about it The over the silver is going which
16:13
explains why the silver price has been able to maintain at
16:17
$76. Don't forget one year ago 2 year
16:20
ago we had silver in the 20s thirties dollars per oz.
16:25
The physical market is taking over the the silver is going not
16:29
from you, not from me. We aren't giving up our silver.
16:32
No way. Sorry.
16:34
Hong Kong, right? I get my silver straight out of
16:37
the ground. The freshest silver in town from
16:39
first Mint right. But the reality is a lot of
16:43
silver is going through the wholesale refining network in
16:46
the United States to the United Kingdom, to China, in China,
16:50
while they're devouring and bringing in all this silver,
16:54
they still don't even have that much.
16:55
And we heard about what Singapore said yesterday with
17:00
their new, their new futures contract, like we are setting up
17:03
a new silver market to help deal with the physical demand that
17:08
Asia as a whole has for silver. We aren't even going to India
17:14
Today. But you know, with India, that
17:15
whole story is incredible. When it comes, it's, it's look,
17:19
the reality is we're living in a new paradigm, a new world when
17:23
it comes to many things, but in particular for gold and in
17:27
particular for silver. OK, Next we're going to go to
17:30
the $100 by July. Hey, look, Michael Oliver saying
17:35
$300.00. But we're going to hear from
17:37
another top analyst who's telling us expect $100 silver
17:41
for by July and he also says $200 silver by the end of the
17:46
year before we do that. Thank you.
17:49
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and jurisdiction matters. You can learn more about the
18:21
company at firstmininggold.com. Now let's talk about how do you
18:24
feel about $100 silver by July? Don't forget, right in January,
18:30
we had $120.00 silver. And there are some people like a
18:34
group of like 9 of them. We've got the silver $300 club
18:38
that are calling for $300 silver at some different time frames,
18:42
some of which are later in 2026, some of which stretch out to 20,
18:47
27 and 28. Without further ado, I present
18:50
to you Michelle McCrory, the lovely and talented host of
18:54
Miles Franklin Media. She's interviewing Manico, 64.
18:59
Everybody loves him. He's a smart guy, He's down to
19:02
earth. And let's hear what Manico has
19:05
to say about the silver price as we head through not the coming
19:09
rest of the year, but the coming two months.
19:12
I'm. Out of time here.
19:14
And of course, you mentioned silver.
19:16
So I have to get back to that silver outlook that I mentioned
19:19
at the top. And Mario, you recently said on
19:23
your YouTube channel that silver can reach $100 per oz by July.
19:28
That's very soon. We're at Iraq.
19:31
What did we say, $76 right now? Break that down for us.
19:34
How does silver reach $100 by July?
19:38
Yeah. So here's the chart.
19:39
And the reason why I see it going probably to near 100 by
19:44
July is that we saw a low here on March 23rd around 60.
19:50
And ever since then, we've seen higher highs and higher lows.
19:55
And the recent low here also hit this trend line that we had
20:01
broken out of it, retested it and it's held.
20:04
So if we make a new high. In the next few weeks, I mean,
20:11
and we go through 90, it's a, it's a very, like it's not very
20:17
far away from 100. And that's why I said I think we
20:20
could go to 100. It's just a it looks like we are
20:24
now back on the the trend is higher because we're making
20:29
higher highs and higher lows. Of course, this is nothing is
20:34
ever like in technical analysis can change, but it looks pretty
20:38
good in my opinion. OK.
20:41
Thank you, Mario. Higher highs and higher lows.
20:47
OK, again, anyone who want to, who wanted to sell has sold.
20:52
He also later talks about $200 silver, possibly by the end of
20:57
the year. The future is looking very good
20:59
for the silver price and gold price.
21:01
Let's talk about Turkey and they're crazy.
21:03
No, let's talk about copper. First a Turkey and then a big
21:07
warning. Copper, copper, copper, doctor
21:09
copper. Why is copper so important and
21:12
what is it telling us when it comes to the gold price, which
21:15
again, the gold price is the granddaddy sets the pace for the
21:22
precious metal sector in general, including silver.
21:24
Gratty, right, the man says. Been saying for a decade he said
21:28
this and then four years ago as well that the inflationary 70s
21:32
will repeat and most notably probably be dwarfed hugely and
21:37
the 43 year pattern has now broken out as expected and now
21:42
it's back testing. Gold is a safe haven and copper
21:45
and industrial metal that usually does well in good
21:49
economic conditions. Doctor Copper, this chart below
21:52
means rough stagflation times are coming and the gold will
21:57
soar further. And I'd like to add, we'll bring
22:00
silver with it. He posted this four years ago.
22:03
This is a very interesting chart.
22:05
See if I get up on full screen, OK, goes all the way back to the
22:09
70s, OK, This is gold versus copper, which currently sits
22:15
right around 700. It's like the gold to silver
22:18
ratio, but it's the gold to copper ratio.
22:21
As you can see, during the 70s, right, this whole brown section,
22:26
that gold took off and that ratio went higher and higher.
22:30
And then right from 1980 all the way through 2025, I'll circle
22:37
this 43 years, OK, We had a massive consolidation phase.
22:42
Hold on. But wait, there's more, because
22:45
we have an inverse head and shoulders that occurred during
22:50
that period, right? For those of you who don't know,
22:53
an inverse head and shoulders is like you standing on your head.
22:56
But it's a good thing for gold for any for any chart.
23:00
It signals A breakout. The S right there.
23:03
There's the shoulder. OK, there's the head.
23:08
OK. And there's the shoulder in
23:12
there is the breakout. Now like he said, we are
23:15
retesting right here, but if and likely will this breaks out this
23:21
brown section, the inflationary 20 twenties could easily mimic
23:26
what we saw over here, right, the inflationary 70s.
23:31
And if that chart continues to break out, which I believe it
23:34
will, gold versus copper, it could signal.
23:38
Not necessarily. Let's be real.
23:40
Do you think the copper, do you really think the copper price is
23:44
going to go down? No.
23:45
So what would need to happen is a much higher, potentially
23:49
exponentially higher. And again, we're talking 5X6XI
23:54
mean potential huge, huge gains. And gold and gold is the leader
23:58
of the pack. Gold drives the bus, right?
24:01
But silver's right there in the seat right behind gold, ready to
24:05
go for a wild, wild ride. Let's look at Turkey.
24:08
This is incredible data about Turkey, but what makes it even
24:12
more interesting is what happened to silver when this
24:15
occurred. Turkey, I guess we can
24:18
officially say is unfortunately for anybody out there who's in
24:22
Turkey watching this, gone through a currency collapse.
24:26
Ash Crypto, Hold on, Let me make this a little smaller for your
24:31
viewing pleasure. Ash crypto, here we go.
24:37
Who has 2 million followers? This is a crypto guy says this
24:40
is insane. The Turkish lira collapsing
24:44
99.99% against the US dollar, which has not done well either.
24:50
OK, while it's government's 10 year bond yield has surged to
24:54
33%, the highest ever in history.
24:57
This is not the Super interesting part.
24:59
We're going to look at that next.
25:01
But that's what happened right here to the Turkish lira on the
25:05
right, OK. That is their bond yields which
25:09
have gone up and up. Do you realize?
25:11
And then we're going to, we're going to get to something crazy
25:13
interesting about this about silver.
25:15
But I was thinking before we went on with the United States
25:18
with $40 trillion in debt, if our bond rates went to 30%, that
25:24
would be 12-12 trillion a year annualized and applied to the
25:29
entire balance in interest expense alone.
25:34
And you can't rule anything out. Do you know what the price of
25:38
gold and silver would be if that were to occur?
25:40
And I'm not saying that I think it's going to occur anytime real
25:43
soon, but we can't rule anything out.
25:45
If we look at what our government has done over the
25:47
last 50 years since President Richard Nixon, you remember it,
25:51
1971 temporarily took us off the gold standard, right?
25:56
Even Volcker, we talked about that last night, said we thought
25:59
it was temporary. They never went back.
26:01
It's like giving a it's like giving a 7th grade girl an an
26:04
iPhone for the first time. You ain't ever going to see him
26:07
again. Bye bye.
26:10
It's like sending your 18 year old nephew out to Vegas with
26:15
your four credit cards. Tell them to have a good time.
26:18
They never went back. The politicians once they had
26:20
once they realized, hey, hey guys, guess what?
26:24
We can print as much money as we want to.
26:29
They just decided to never go back to the gold standard.
26:31
I digress. We're talking Turkey and let's
26:34
see what happened to silver as as the Turkish lira collapse.
26:38
Do you think people in Turkey that had precious metals were
26:41
happy? You're darn tootin, they were
26:43
happy. Let's take a look right here
26:48
from silverprice.org. This is a 5 year silver price
26:54
chart in Turkish Lira. As you can see, I'm going to get
26:59
a different color out for you. Let's do green 2021.
27:05
I did some research before we came on.
27:08
In 2021, the silver price hit a low of about 150 Turkish lira.
27:15
That's five years ago today. OK.
27:19
As you can see, as their currency collapsed, the price of
27:23
silver and Fiat Turkish lira went to as of today, 3480, we
27:36
got to finish this now 86 Turkish lira from about 150.
27:47
What is that? I don't know 20 * 24 times X20
27:52
4X that shows us in uncertain terms if we if you and I lived
27:58
in Turkey. OK, my fellow Turkish and I feel
28:02
bad for the people in Turkey, by the way, Hopefully if you're
28:06
watching this show, you protected yourself with precious
28:08
metals. But the reality is if we lived
28:11
in Turkey, the value of our imagine this.
28:14
Let me get the right one out. This right, this paper here it
28:19
comes, right, right. If that were Turkish lira that
28:23
went down the tubes, down the toilet, right?
28:26
And and the people that had gold and silver were able to at least
28:30
maintain and I would imagine probably increase their spending
28:35
power because of the precious metals that they held.
28:40
Now think about this since 1971, this old beauty right here, the
28:45
US dollar has lost what 98, ninety 99% of its value against
28:51
gold. Gold and silver protect wealth.
28:53
Gold and silver have done that for thousands of years
28:57
everywhere. Where are you joining me from
29:00
everywhere. Next we're going to talk about a
29:02
big warning scams out there. Scam scam scam, scam.
29:06
We wish it wasn't, but it's true.
29:07
So we got to talk about it in the silver market and we'll
29:11
touch on the gold market as well.
29:13
Before we do that, I do want to say thank you to channel sponsor
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And now it's grown into this like like ever expanding
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Because they treat people right there in Mount Vernon, KY.
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Oh, and by the way, Scott, the CEO and Lisa, they are basement
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That's how they they found out about me.
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And I said, I've never worked with a soap company before, but
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Check them out. Now, beware scams in the silver
30:56
market. Here's a little clip, NBC News.
31:00
Oh, shoot, hold on. I'm going to get it.
31:02
Bear with me, I think I forgot to have it up.
31:06
Hold on here, guys. I will not sing for you. 2 more
31:10
minutes. Be glad that we.
31:13
Here it is. I've got it.
31:14
OK. And pulling this up.
31:19
This is from NB SO. Today's the day they're.
31:22
Going to make us watch an ad. Hold on system and Coyote.
31:25
Sorry, NPFC. Well, this year's 250th
31:29
anniversary for our country. To commemorate it, the US Mint
31:32
is issuing. Limited This is about scams in
31:35
the silver market. Let's move forward.
31:37
They talk about how the the mints putting out new products,
31:42
how the silver price is up. So there are scammers out there,
31:46
and I mean scammers. The summers galore.
31:49
Let's get right here is where we want to go.
31:51
Here we go. Have become a growing problem.
31:55
Someone who put an actual roll of Silver Eagles, 1 oz Eagles,
31:58
20 of them and they were half the price it should have been.
32:01
And sure enough, they were all fake.
32:03
We looked on eBay and quickly found silver coin deals that
32:06
seemed too good to be true, described as.
32:08
Fake silver coins. Guys, beware.
32:11
They're saying eBay, but it's more than eBay.
32:14
There's others, online sites, whatever.
32:17
One ounce silver with .999 purity for around $25 per coin.
32:23
They should typically cost about $90.00 according to coin experts
32:26
we spoke to. One listing was being advertised
32:29
by the seller at the top of our search page.
32:32
Our consumer team bought the coins from 4 different sellers
32:35
on eBay and brought them to Element, an international
32:39
materials testing company in Enfield.
32:41
It's going to give us a breakdown of all of the
32:43
different elements within the coin.
32:44
We bought this online also for $23.
32:47
It's it's supposed to be silver one ounce bullion coin.
32:51
So this one is about 59% copper. Some had a trace of silver.
32:56
How much silver is in that one? About 1.2% so very low amount of
33:01
silver. But all four coins about. 58%
33:04
copper. Were made mostly of copper and
33:07
that sponsored listing this. Coin is over 61% copper and less
33:12
than 1%. OK, you get the point guys.
33:15
There are fake American Silver Eagles out there and other coins
33:19
that look almost identical to the real thing.
33:23
To a lot of us that aren't like that, don't work in a coin shop,
33:26
and aren't experts, gurus, we can't tell the difference.
33:30
Two key things #1 if the price seems too good to be true,
33:35
especially on eBay or a big site, it probably is too good to
33:41
be true, OK? I've talked to you many times
33:44
about the importance when you're buying silver that you want to
33:47
make sure that you're getting the best price right, a good
33:50
value for your money, OK, But you're never going to be able,
33:54
most likely, generally speaking, to buy silver significantly
34:00
under the spot price. You can go go out and check at
34:03
the big online bullion dealers. You can go out and check on the
34:06
spot price. But if the price is, look,
34:09
nobody's going to sell you in American Silver Eagle for $2630
34:14
when the spot price is at $76 per oz.
34:19
And they're out there and they're hard to spot.
34:22
The other. The other big thing to remember
34:25
is when you're, when you're seeing these online, I'm sorry,
34:28
ATV advertisements from these gold and silver companies and
34:33
they tell you, oh, if you convert your IRA, we'll give you
34:36
$10,000 worth of silver or we'll give you all this for free.
34:41
Nobody's giving away anything for free.
34:44
OK? Please, please always be careful
34:47
out there. You know, I, I have bought
34:51
silver over the years, real silver.
34:55
You want to do, you want to make sure of two things.
34:57
You're getting a good price, close to the spot price, OK, but
35:01
#2 make sure you're getting it from a reputable source.
35:05
In this day and age with online reviews and you probably know,
35:10
you know, look, I can tell you one right now.
35:13
That's a great reputable source first meant, right?
35:15
They're owned by First Majestic Silver.
35:18
They're an awesome company. You can shop there with 100%
35:21
confidence, but there's other online bullion dealers that you
35:24
can look at as well that you've heard of that you know have been
35:27
around for years and years. Always buy from a reputable
35:31
source, some of these other online sources and there's great
35:36
sources that are online, but there's also some even in real
35:39
life, right that you need to be leery of.
35:42
So please be careful out there. Thanks for joining us today down
35:45
here in the basement. You are we are together the
35:48
basement dwellers. Please subscribe to the channel
35:51
that's free. Give this video a thumbs up.
35:54
Turn on the bell notifications because we want to see you back
35:57
down here in the basement. Have a great day, OK?
36:00
And we will see you. And yeah, we see you.
36:03
We are real. We'll see you soon.
36:05
Bye. Bye.