Latest / SILVER / GOLD / $UFD Meme Coin Investing & Global Economics / **Silver and Gold UPDATE** 47 Year precious metals Expert

Transcript

**Silver and Gold UPDATE** 47 Year precious metals Expert · SILVER / GOLD / $UFD Meme Coin Investing & Global Economics

• 0:00
  Anybody that's saying silver short right now is wrong.
• 0:03
  We got plenty Hey guys, I'm out of the basement today.
• 0:15
  I'm joined by Michael Boyer from Mid America Coins.
• 0:18
  We are at the Missouri Numismatic Club Annual Coin show
• 0:22
  here in Saint Louis and he's kindly agreed to join me today.
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  I wanted to ask him about his feel for retail silver
• 0:31
  investment and just general thoughts on the silver market.
• 0:34
  Michael, thanks for thanks for joining me today.
• 0:37
  Thank you for having me, Ron. I appreciate it.
• 0:39
  Yeah, so, so how many years have you been coming to this show?
• 0:43
  Over 25 years. Wow, As over that period of
• 0:46
  time, when you think about what we're seeing here today, it
• 0:49
  looked like there was a big crowd to me when I walked in.
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  Are they have the crowds grown bigger, smaller over that long
• 0:56
  period of time? And then I'm also curious even
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  just compared to last year, if you have any observations.
• 1:02
  Last year it was pretty good show as usual.
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  Actually the biggest crowd was here yesterday.
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  This is a little bit slower today.
• 1:11
  We got some dealers leaving today.
• 1:13
  Saturday is the last day for this show.
• 1:16
  Some guys try to pull off 2 shows so that's why they leave
• 1:19
  on Friday to go do another one. OK.
• 1:22
  OK. So compared to last year, would
• 1:24
  you say the crowds are about the same, a little bigger, a little
• 1:27
  smaller? I think they're a little bit
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  slower this year than what we had last year, OK.
• 1:34
  But due due to the market jump in some of them are some people
• 1:37
  are scared right now where it's going to go and how much they
• 1:40
  want to put into the market. Yeah, Yeah, I was looking
• 1:43
  earlier today. I look back one year ago today,
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  the silver price was $10 per oz lower.
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  If you, as you know, obviously you're, you're dealing with the
• 1:53
  public, the retail silver and gold investors, have you seen
• 1:57
  the appetite drop increase or any?
• 2:00
  Actually, we right now, there's a lot of gold being dumped on
• 2:03
  the market, but the silver we're trying to convince people to
• 2:07
  hang on do not dump their silver just yet.
• 2:09
  We are looking at seeing maybe another little drop and then
• 2:14
  it's going to go up again. You're so you're, you're
• 2:17
  predicting higher silver prices. Later on, I'm predicting lower
• 2:21
  first. Lower and then higher.
• 2:23
  Interesting, interesting. Well, you know, because I'll go
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  ahead. I, I'm actually a bullion
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  dealer. I, I work a lot with the mints
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  and everything else. So we do this every day.
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  For 47 years I've been doing this.
• 2:35
  Wow, wow. And yeah, when you think about
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  the the the price of silver over those 47 years, you probably
• 2:44
  have seen it all. I mean, were you around during
• 2:46
  the? Hunt brothers, I was there, you
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  were there. I actually was dumping silver at
• 2:51
  that. Time.
• 2:52
  Yeah. Wow. 2011, I went through that.
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  I mean we've seen it probably about four different times where
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  the market is went crazy. I think this one here is with
• 3:04
  gold the way it is. I think it's real crazy.
• 3:07
  But we also noticed that there's been a lot of people stepping in
• 3:10
  on platinum right now. Platinum expected to do really
• 3:16
  good. Get back up there where it used
• 3:17
  to be round gold. So the, the recent rally that
• 3:22
  we've had since you've, you've lived through the Hunt brothers,
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  you lived through 2011. Does this like last year rally
• 3:29
  that we've had seem a little more it to me, it doesn't feel
• 3:32
  like it was a huge spike, feels like it's been a kind of a
• 3:35
  steady growth in the price. Do you, do you have any
• 3:38
  observations in that, like when you compare what's going on now
• 3:41
  with what we saw during those? Well, you know, I, I feel like
• 3:46
  2011, we had a lot of play in the market where, you know,
• 3:51
  we've seen JP Morgan come through through the Central
• 3:54
  State show and dump, but a Maple lease and stuff, it's $2.00 back
• 3:58
  a spot we was getting this stuff for.
• 4:02
  We're not analysts, but as dealers we should, probably
• 4:05
  should think something was wrong.
• 4:07
  We was dead right by Monday after the Central State show,
• 4:11
  silver dropped to 3850 from 47. So that was a big drop for us,
• 4:16
  yeah. Yeah, Yeah.
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  It's going to be interesting to see how this, you know, in the
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  next six months to a year plays out.
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  I was reading this morning, Citibank, for what that's worth,
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  is predicting we could have $43 silver here in the next 6 months
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  when it comes to retail demand for the precious metals.
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  And I guess we'll talk about silver 1st and I'll get your
• 4:40
  opinion on gold. But from what I'm hearing and
• 4:43
  I'd like to get your opinion, there's been, it's been kind of
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  subdued like the demand from the retail crowd for silver has been
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  a little bit below average. Is that I guess my first
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  question? Is well, that's just it well, a
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  lot of us and you're hearing people complain about how much
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  silver's being dumped on the market.
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  I've seen some videos where people were talking about
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  foundry companies are melting down 90% not true.
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  OK, they're they're actually found a way to get it to
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  companies like myself. We're actually offering it to
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  the public today. Hasn't been in a real long time
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  at Melt. You can buy 90% from mid America
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  at Melt today. Wow.
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  And. Remember that guys, if you're
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  here right now, it's a it's a good.
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  We got plenty of 90%, but that's and we got my access to more of
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  it. Yeah, yeah.
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  It's, it's, it's interesting to me to think that retail silver
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  demand is down, but that if things turn around and we get
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  back just to a normal level, you know, I'm sure you're aware
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  there's a, a deficit in the silver market there can we're
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  consuming more silver. Do you think there's going to be
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  a point where where that'll be reflected in the market and
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  maybe in conjunction we get retail coming back and that we
• 5:59
  could potentially see an all time high for the silver price?
• 6:02
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• 6:05
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• 6:10
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• 6:14
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• 6:22
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• 6:29
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• 6:37
  First mint.com. Thank you to 1st Mint for
• 6:40
  sponsoring Ron's basement and sponsoring this video.
• 6:43
  I think the way the silver's been going and me going up,
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  that's what pushed a lot of them out.
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  If we see, and I told you earlier that we are going to see
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  a receipt back, when you see that receipt back, you're going
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  to see a lot of people start stepping in.
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  Then when it makes a move up, they're really going to do just
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  like they did just before 2011. They're going to keep buying.
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  Yeah, yeah. We still got a lot of buyers out
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  there that are buying silver, but not at the feed they were
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  about a year ago. About a year ago, yeah.
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  You know, I know I hear Rick Rule sometimes say that silver
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  buyers are an interesting bunch that they really pile in when
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  the when the price starts to move up in a big way and creates
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  kind of a mania type environment.
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  Right, right. Well, if you remember 2, about
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  two years ago, you walked into a shop.
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  It wasn't unusual to say, hey, I'm about 3 weeks out.
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  But yeah, you put an order in, silver was short and now we're
• 7:44
  long, but we're going to get back to normal and we're going
• 7:47
  to get it on the level field. Right now there's a lot of so
• 7:50
  people's dead. Anybody that's saying silver's
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  short right now is wrong. We got plenty of silver out on
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  the market. A lot of silver on the market
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  right now, but I know I remember Now, come to think of it, I'm
• 8:00
  here in Saint Louis. There's a place called Scotsman
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  Coin not too far from where I live and I remember going in
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  there and like their entire case was empty.
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  At times we had that too. And, you know, we don't like
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  seeing that, but you know, it got to that point.
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  So we're telling people, yes, we'll take your orders.
• 8:17
  We're three weeks out. You know, that's about the worst
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  it got for me. I I heard some people had to
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  wait four to five weeks. But yeah, it got pretty bad.
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  I mean we even had the mints prolonging our orders and
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  everything I remember. I remember, do you think that
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  what what we just talked about these empty cases that we had a
• 8:36
  couple weeks ago, does that speak to the fact that the that
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  the silver market is maybe a little more fragile than than a
• 8:44
  lot of people realize That doesn't take a lot I.
• 8:48
  Don't think so. I think because like I said,
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  there is a lot of silver out there right now, but a couple
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  years ago is when we had that short this right now and that's
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  where the foundry companies right now are.
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  That's why they're doing what they're doing.
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  So and their silver a little cheaper to companies like mine
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  and everything because they're flush too.
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  They're trying to get rid of some of their silver.
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  But the one thing they're not doing is they're not melting
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  down at 90% and there's 90% out there, plenty of it.
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  All you got to do is buy it from the right people.
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  There is companies out there that's online I've seen selling
• 9:25
  2 and $3 over. There's companies like me that
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  you can buy it from spot. So don't be afraid to buy.
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  Step on in and buy. Yeah.
• 9:32
  Yeah. Wow, interesting.
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  So 47 years dealing with silver and gold.
• 9:39
  Any interesting observations you can share with us in terms of
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  what you're seeing here in this last year and anything you want
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  to share with the with the viewer?
• 9:48
  Well, yeah, what we're seeing right now is more what's really
• 9:52
  being dumped on the market is go because we've been trying to
• 9:56
  convince people even on my channel case, some of your
• 10:00
  viewers don't know Mid America does have their own YouTube
• 10:03
  channel. And we we've been noticing that
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  a lot of gold's been dumping on the market.
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  If you guys want to go back and look at some videos, but about a
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  month ago I did 2 buys one week right right in a row half
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  million dollar deals of gold. So you know we so we got a lot
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  of gold coming in. I bought a lot of gold while I
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  was here already. As I told you, Ron, behind me
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  was that big box that's filled with nothing but gold.
• 10:29
  Check that. Out.
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  What we're trying to do is get people to hang on to their gold
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  and maybe purchase more because guys, it's not gold is not going
• 10:37
  to come down much. It's going to keep going, no?
• 10:41
  Well, in a lot of it is I know the Western investors are
• 10:44
  selling, which I'm, I'm, I'm glad you had that observation
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  because that's what I've been hearing.
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  But, but the, but the Eastern investors in India and China are
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  gobbling it all up. They're.
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  Trying, they're trying and so that you know, but right now you
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  can buy gold very reasonable. I mean really close to the spot
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  in some cases. Why I have them on hand and you
• 11:07
  can buy Cougar Ands from me right around Spot.
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  You know that didn't happen, but there's a lot of gold out there.
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  So that's what we're doing. We got stuff that we'll sell at
• 11:15
  spot. We got stuff just a little bit
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  over, but there is a lot of gold on the market right now.
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  Almost 50 years that you've been in this business.
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  How many years? I've been doing it a long time.
• 11:31
  Yeah, that is. Awesome.
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  And, and you know, and I've been really following silver and gold
• 11:36
  for only about 20 years. But even I remember, and I was
• 11:40
  talking about this this morning with, with, with my viewers on
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  my YouTube channel. I remember like 4 years ago,
• 11:47
  people kind of heckling me and saying, oh, it's a barbarous
• 11:51
  relic and why would you invest in silver?
• 11:53
  You should buy tech stocks. Do you feel like right now that,
• 11:58
  that the general population or the general, you know, the
• 12:04
  people in the United States are starting to maybe have a bit of
• 12:07
  a shift in terms of their, their thoughts about silver and gold
• 12:12
  Thirst Mining Gold is a Canadian gold developer with two multi
• 12:16
  million ounce projects located in Canada, Spring poll in
• 12:20
  Ontario and Duparquet in Quebec and they also have the Cameron
• 12:25
  project located in Canada. They have 0 debt.
• 12:30
  A great opportunity ahead. You can learn more about them at
• 12:33
  firstmininggold.com. I I think there is, I've noticed
• 12:38
  that in the last couple years there's people's been coming in.
• 12:41
  I'm casting out my Iras because I want to get in silver and go
• 12:44
  what I do. Preach to your audience too.
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  I've been saying this because I had a guy come in my shop.
• 12:51
  He says, oh, I'm going to wait for silver to make another drop
• 12:54
  and I'm going to take a loan out against my don't do that, Don't
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  do that. When you got to borrow the
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  money, that is not going to work, no.
• 13:03
  Stay out of debt, number one. That's what I said.
• 13:05
  Sorry. Buy yes, you're you are right,
• 13:08
  right. Stay out of debt.
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  Buy do your means is what I always say.
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  If you can afford 100 oz good. You can afford one ounce.
• 13:17
  Good. Try to stack something though.
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  I do tell you people that it's not going to get much cheaper.
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  It's going to get start going back up.
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  So make a good investment, yeah. Yeah.
• 13:29
  And dollar cost average maybe come go see Mike once a month or
• 13:32
  once a quarter or whatever, right, do a set amount little by
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  little we. Have a young man that's been
• 13:38
  he's 10 years now. He's been coming to my store.
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  He works, he has a wife, they have a baby, they own their own
• 13:44
  home, she works, they work. But he comes in and gets one or
• 13:48
  two oz a week, every week like clockwork.
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  And so I really enjoy it and I treat him the same as the guy
• 13:56
  was buying 1000 oz. And I would treat everybody like
• 14:00
  that. And your your actual store is in
• 14:03
  Oklahoma? Yes, in.
• 14:04
  Grove. OK.
• 14:06
  We're right next door to the police station.
• 14:07
  It's easy to find. We got we got our own security.
• 14:10
  Exit you out. That was a smart move.
• 14:12
  Right next to the next to the police station.
• 14:15
  It's mid America coin, correct? Mid America.
• 14:19
  Coins and and Mike also has a YouTube channel.
• 14:23
  I'd encourage everybody to go check it out.
• 14:25
  I can tell you I've only known him 15 minutes, but I sense that
• 14:29
  we got a good guy here. So go check out his YouTube
• 14:32
  channel, subscribe to his channel.
• 14:34
  And is there anything I forgot to ask you, Mike or anything you
• 14:37
  want to mention? Well.
• 14:38
  No, I'll just we already talked about we want people to make
• 14:42
  sure that you please do not borrow money to buy money, OK,
• 14:47
  Just don't that don't work good. I do get them guys and just
• 14:51
  understand when you're buying, it's like buying stocks or
• 14:54
  anything else. Don't expect to buy it and then
• 14:57
  next day, I mean, it can't happen.
• 14:58
  Look what happened to gold, but don't expect to run in the next
• 15:02
  day into your LCS and say, hey, I want to cash a sink at a jump
• 15:05
  really high because you're going to lose.
• 15:08
  If you got a dump one day after you buy or a month after you
• 15:11
  buy, you got to let it build, yeah?
• 15:13
  Yeah, take your time and do it over time.
• 15:16
  And I guess you could tell us that after 47 years it'll it
• 15:19
  adds up a little bit it. Does add up a little bit it?
• 15:22
  Does well on behalf of our viewer, I'm at myself.
• 15:26
  I really appreciate you sharing your wisdom with us and your
• 15:29
  insights too, right? You've got the years of
• 15:31
  experience, but also you know you're in there dealing with the
• 15:34
  public, dealing with the bullion dealers on a day in and day out
• 15:38
  basis. So we come.
• 15:40
  Back here every every time for three-year or for three shows,
• 15:44
  we do the show at the airport. 2 shows here.
• 15:47
  So we're here 3 * a year. And if you're in Oklahoma, go by
• 15:52
  and come. By and see us, we're just across
• 15:54
  the borderline and. Check them out and hopefully
• 15:57
  next year we'll get to sit here again and I can I can talk about
• 16:00
  your 48th year. Or we could do this in November,
• 16:03
  yeah. OK, that's.
• 16:05
  When they have the next one, Scotsman's has their show.
• 16:07
  OK, we're. We're always here there at their
• 16:10
  show. I've been doing their show
• 16:11
  longer than I've been doing this one.
• 16:13
  Wow, Wow. All right, Mike.
• 16:15
  Hey, thank you, man. Thank you.
• 16:16
  All right, we'll see you soon. Thanks, guys.
• 16:18
  Thank you.