Latest / SILVER / GOLD / $UFD Meme Coin Investing & Global Economics / We WARNED you! - Coin Shop says THIS is happening - (Silver Price and Gold Price)
Transcript
- 0:00I tell you, it it's been, it's been crazy, Ron, you know, with
- 0:02the 90% flying out the door, we just can't keep it in.
- 0:10Intriguing and interesting gold and silver stories from the Coin
- 0:15shop. We hear all types of news about
- 0:18the COMEX and the LBMA. We hear news from the big online
- 0:23bullion dealers. But what about what's happening
- 0:26right now at the local coin shop level?
- 0:29Who better to talk to than the guru himself?
- 0:33Coin Shop Chris, he's in the trenches every single day.
- 0:37He always has interesting stories for us.
- 0:40This guy knows more about coins. He knows a lot more, even about
- 0:4590% constitutional junk silver. I like to call him the Fred
- 0:49Sanford of Junk Silver Coin Shop.
- 0:51Chris, welcome to Ron's basement.
- 0:54Well, thank you, Ron. Thank you for having me on
- 0:57again. You're, but you're a good man,
- 1:00Ron. Everybody needs to like, share
- 1:01and subscribe to Ron's basement, please.
- 1:04That's right. Thank you, Chris.
- 1:05So what's going on? What's been happening at the
- 1:09local coin shop? I understand there's been some
- 1:11interesting things that have happened over the last couple
- 1:13weeks. Any anything you can share with
- 1:15us? Oh, I tell you it, it's been,
- 1:18it's been crazy, Ron, you know, with the 90% flying out the
- 1:20door, we just can't keep it in. You know, we, our owner has gone
- 1:25to a different state this past week to find more 90% server,
- 1:29which he was happy, really happy to find some more.
- 1:33And not a lot, but he likes to get out, you know, and you know,
- 1:37he's 87 years old, John, and he, he just likes to drive around
- 1:42and, and talk to the other coin shop owners.
- 1:44And you know, that's what's, you know, that's what makes the fun
- 1:47out of it. Yeah, we're not making a lot of
- 1:48money, but, you know, he he, but he really don't care about that.
- 1:52You know, he's just trying to keep the customers happy.
- 1:55And there's a lot more of on. I mean, I got some stories.
- 1:57If you don't want me, go on. I want to hear stories, but I
- 2:00want to, since we're on the subject of 90%, what I'm hearing
- 2:03is that a lot of the 90% silver, like I don't want to say there's
- 2:08a shortage, but there's definitely stress in that market
- 2:12and that a lot of it is being absorbed at the local coin shop
- 2:17level. Like if local coin shops get 90%
- 2:20silver, they're holding on to it because they know they can sell
- 2:23it. So a lot of the big wholesalers
- 2:26are having a harder time, especially because the local
- 2:29coin shops aren't wanting to sell their 90% to the
- 2:32wholesalers. Is that is that accurate in
- 2:34your? Opinion.
- 2:34That's right. We, you know, very rarely, Ron,
- 2:38like remember probably just before the Panda pandemic that
- 2:43we actually sold a few bags back to the Boeing dealer 'cause we
- 2:47had so much of it. But now everybody seems to want
- 2:50it. You know, just a few years ago,
- 2:52Ron being even, you know, you know, 2015, 2017 ish, nobody
- 2:57wanted the stuff, nobody wanted it.
- 3:00I mean, everybody just kept calling it and I don't want it.
- 3:02It's junk, it's junk. Well, you know, junk silver,
- 3:04it's gone up in price and the value of a silver core the last
- 3:08time I looked was about 543 Ron, you know, maybe a little bit
- 3:11cheaper than than that silver dime was ravaging right around
- 3:142O9A dime and a half dollar was melting for way over 10 to 10
- 3:18bucks. So I mean, that's just you melt
- 3:21value and I I got to give a warning gone.
- 3:24You know, you know, shop around for your best place and you know
- 3:31that that's my best advice around.
- 3:33You know, when I look on eBay and I'm really people are
- 3:37starting to way overcharged for this stuff.
- 3:40So buy it. Beware if you're shopping around
- 3:43and really stay off of Etsy. I got some stories about Etsy if
- 3:48we want to go on to that too later in the vineyard on, but
- 3:52I'm really we got to shop around and pin backs your sponsor, Ron.
- 3:56They really have good places on a lot of the items, so I want to
- 4:00give a shout out to your sponsor, Pimbex.
- 4:04There, there's Pimbex right there for Basie Pi MB EX
- 4:08pimbex.com. They're an online bullion
- 4:10dealer. They always have great prices.
- 4:13They always have great selection and they're always a company
- 4:16that you can trust. Thanks for bringing that up,
- 4:18Chris Let. Me ask you a.
- 4:19Question. Let me ask you a question,
- 4:21Chris. I got 2 questions about 90%
- 4:24silver. Number one, I'll ask you this
- 4:26one first. How does it make you feel,
- 4:29Chris, when people call it junk? I know you've been AI mean
- 4:32you've loved this stuff since I've known you, but does that
- 4:35hurt your feelings when people call it junk?
- 4:38Not one bit. You know it.
- 4:40Don't. That term don't bother me one
- 4:42bit because, you know, 90% silver, junk silver,
- 4:45constitution silver, whatever you want to call it, it don't.
- 4:49It's all the same thing. Yeah, the the junk term really
- 4:54offends some people out this out there.
- 4:57And it's I don't know why people get offended about that because,
- 5:01you know, it's still it's not it's not 3 nines fine.
- 5:04You know, it's it's in our it was in our money before 64 in
- 5:10before run. And then Nixon took us off the
- 5:13go standing and you know, and that was all part of the plan.
- 5:17We but we all know that, you know, that's and service started
- 5:20to get more expensive. You know, the average person,
- 5:23Ron does not understand. You know, maybe your viewers do.
- 5:26My viewers do, Ron, but the average American does not
- 5:29understand this is worth more than 1/4.
- 5:33This is worth more than 1/4 because it's got the silver
- 5:35content in the quarter and the silver Dimes.
- 5:38You know, that's, that's a great point, Chris.
- 5:41The average American probably doesn't realize that a 1958
- 5:45quarter is worth more than 1/4. I bet.
- 5:47I'd be curious, I bet it's almost 90% of people ironically
- 5:52don't realize that it's that it's worth.
- 5:54How much is a 19 just a standard 1958 or any year silver quarter
- 6:00worth? The last time I checked was
- 6:02right, the milk value was right about 5:25 or so.
- 6:05I mean, I mean it goes as of course it goes up and down.
- 6:08The silver diamond is melting for about 2 bucks for about 210
- 6:11and a silver half dollar is melting for about 1025 or so.
- 6:16Get give or take whatever the price is at the certain time
- 6:19that we that we look at. If you want to bring up NGC, I
- 6:21don't think we can screen share this, but you know coin melt,
- 6:25melt value, we'll bring it right up for you, so.
- 6:27I mean, yeah, yeah. Do you think it's a Canary in
- 6:30the coal mine? I meaning do you think that this
- 6:33stress and I think some people could say shortage, but we'll
- 6:36say stress. In the I'm gonna say shortage.
- 6:40Shortage. OK, I'm gonna say it.
- 6:41Let's. Just say it, Chris.
- 6:42There's a shortage. Do you think it's a Canary in
- 6:44the coal mine for what's to come for the rest of the silver
- 6:48market? Because we know that during some
- 6:50of the more recent, previously previous stress periods or
- 6:53shortages that we had in the silver market, that 90% silver
- 6:59was amongst the highest in terms of premiums shooting up.
- 7:03Do you, do you, do you think maybe this is kind of a a sign
- 7:06of things to come, Chris? Well, it's always happening,
- 7:09aren't we? But we got a e-mail from our
- 7:11Bowen dealer. What was it?
- 7:12Today's Friday. We got Wednesday saying 5 oz
- 7:16silver bars and 10 oz silver bars are going up up up you know
- 7:22up $2.00 for five ounce and $4.00 for a 10 oz silver bar.
- 7:26So we didn't really need a lot of five ounce bars.
- 7:29We really didn't need the 10 oz silver bars.
- 7:32But come to find out the bowling deal only had 10 oz Canadian
- 7:36maples left. No the Canadian Royal Mint 1.
- 7:39So we so we ordered 3 cases, which is 100 and and 50 silver
- 7:4310 oz bars and they only got to keep them ourselves because we
- 7:47our safe to sell full right now at the shop.
- 7:49It's just unreal. So I mean, they're going up.
- 7:51Yeah, they've already gone up. So we had to raise our premes on
- 7:54what we had in stock already. Yeah, it's a sign.
- 7:58What's coming Ron? One ounce stuff didn't seem to
- 8:01go up this week. Anything else but the five ounce
- 8:04silver bars and the 10 oz silver bars.
- 8:07The premes have gone up for us. They're moving there.
- 8:09Are you seeing anyone come in and make big?
- 8:11I mean, any stories of what happened the last couple weeks
- 8:14in terms of people coming and making big purchases at all?
- 8:17Well, there was not a there was a big, I want to call it over
- 8:20big pictures, but I had a wife and a husband came in yesterday
- 8:24and they bought, you know, they were been watching YouTube,
- 8:27They've been watching Lynette Zane, they've been watching Andy
- 8:30Scheckman and there was a few other names out there.
- 8:32Not either not you or me, Ron, but you know, but that's that's
- 8:35fine. Thanks for the.
- 8:37Plug. I appreciate the plug.
- 8:40You know, I mean, but it is what it is there.
- 8:43But you know, they're starting newer people are starting to get
- 8:45into it and they come and say, what do you, what do you
- 8:48recommend? Well, we really can't.
- 8:50We're not financial advisors are on, but you know, we are really
- 8:54going on with the 90% silver. So what this what this couple
- 8:58did, $2500 worth of Dimes and $2500 with the silver quarters.
- 9:05That's what they bought. Not face, but just valued
- 9:08dollars, you know? And you, you had a guy come in
- 9:11and sell some silver, I think maybe some 90% not too long ago,
- 9:16but it was because he wanted to go on a big trip or something
- 9:18like that. Is that?
- 9:19Yeah, his wife, his, his wife passed away and this guy had
- 9:24cancer and their plans were always to go to state of Hawaii
- 9:30and the wife never made it there on.
- 9:32So and this guy's getting up in an age and he's, he's got a
- 9:35nurse, a full, full time nurse that they actually live with
- 9:38him. And he's, she's the nurse and,
- 9:41and her husband lives with, with him or the boy, this boyfriend,
- 9:44I should say. And but she's, he's willing to
- 9:48pay for her to go and he was willing to pay for him to go,
- 9:50but he can't go 'cause he, he's, he works.
- 9:53So she's going to go with him. And in November, they booked the
- 9:57flight and they're going to go see Hawaii before he passes on.
- 10:02And so that was his reason. For selling some silver.
- 10:04That was his reason for selling some silver.
- 10:06Yeah, Yeah. Yeah.
- 10:07What? What else are you seeing in the
- 10:09in the shop that's of interest? Well, I tell you these they're
- 10:13grandma. There's two grandma stories
- 10:14here. I'll tell you about the twin
- 10:15boys first. They're about you're but but I
- 10:18think you're dollar 12, right? Yes.
- 10:21OK, so these these two boys, the grandma comes in, she buys junk
- 10:26silver, 90% silver on a monthly basis.
- 10:30And what they when the boys come over for visit every single
- 10:33week, they normally get together for Sunday night's supper and
- 10:37they but they do chores. So the what the grandmother
- 10:39does, she gives them cash and puts it in a drawer and when
- 10:43they have enough to buy a silver dime or silver cord and she
- 10:46looks UPS, no, the the value not no creams on top of it.
- 10:50The boys are allowed to buy what they earned that day and there's
- 10:54not enough cash to do it. So they're trying to fill up a
- 10:57pasta jars, jar sauce of silver Dimes, quarters and halves.
- 11:04And the boys are like on wars trying to find out who's going
- 11:08to fill up their job faster on. I mean, it's, it's a great way
- 11:12to teach the the young people to Start learning how to save in
- 11:16silver and gold really. But they're starting off with
- 11:19the boys with the smaller stuff. I mean, that's just, you know,
- 11:23that's really. And the boys are allowed if they
- 11:26want to sell it back, the grandma has a little cash
- 11:28drawer. She will let them sell it back
- 11:32at spot at at melt that value back to her.
- 11:36And if they want to go buy a candy bar or whatever the case
- 11:38may be, that is where they actually that's where they get
- 11:42their money back. So if they buy it for like 5
- 11:44bucks, you know, and then it goes up to 550 and the boys want
- 11:48to sell it back. That's what That's what happens
- 11:50on. OK, what about this video?
- 11:52I'm on your you. I didn't realize you have your
- 11:54own YouTube channel coin shop. Oh yes, you did.
- 11:58Let's take a look up here, coin shop, Chris, everybody, that's
- 12:02really easy. Just type that in and you'll
- 12:03come here and then you press subscribe like, yeah, see and
- 12:08then turn on the bell notification.
- 12:10But I want to ask you about some of these titles, $62,000 of
- 12:15silver sold. But what?
- 12:16What was up with that? That was that was a good day for
- 12:20that was a good day for the shop that everybody was.
- 12:23Monday. It was Tuesday, I believe it was
- 12:25that everybody came running in and buying silver after Labor
- 12:28Day and they're afraid. People are getting more and more
- 12:32afraid out there on. And that's not, that's one of
- 12:35our better days. I mean, you know, normally our
- 12:37days is between 20 and probably $32,000 a day at the shop.
- 12:43That's a normal day for us. But that was, you know, another
- 12:46lying day first thing in the morning and people just starting
- 12:49to be a little bit more panicky, I guess, and what's coming down
- 12:53the pipeline. And nobody knows, Ron.
- 12:55That's the thing. Nobody knows what's going to
- 12:57happen with the Fed. Nobody's going to know what's
- 12:59going to happen with the bricks. Nobody knows what's going to
- 13:02happen with the election in no this November.
- 13:05And I tell you, it's like a 123 strike punch here.
- 13:09And I think still going to go with the going up.
- 13:11And gold seems to be holding right now, Ron, at its price.
- 13:14And that's very, very good news, I think.
- 13:17Yeah, gold. The last I tracked still, I mean
- 13:20I get emails from people saying oh gold's not going up, go on my
- 13:22gold's at $2500 per oz. Think look back at where it was
- 13:27one year ago and then it just your thinking right?
- 13:30I mean, let's be happy if gold stays above 2300 and builds a
- 13:35strong base from here. What about this 190% silver?
- 13:39New people are getting ready. You just released that three
- 13:42hours ago. Are you are you able to talk
- 13:44about it yet or do you want to let it?
- 13:46Oh, oh, yeah, that one. Actually, I'll, I'll say it,
- 13:49Ron, don't matter. That was the one I released on
- 13:53about the husband and the wife came in and buying that 2500,
- 13:57you know, it added up to 5000. Yeah, what?
- 14:00What about this one over here stacking 5 oz silver bars?
- 14:06Oh, you're going to make fun of how my accent?
- 14:08That's fine. Well, yeah, well.
- 14:10Yeah, so everybody knows Coin Shop Chris has a southern
- 14:12Missouri Ozark accent, correct? Yeah, you know, 5 oz 10 oz Buzz.
- 14:18I do, I do like them a lot. You know, I I rather have the 10
- 14:21ounce, of course, but eat, you know, I like, you know, all
- 14:24types of silver, Ron. And you know, I think it's, I
- 14:29just don't stack anything bigger than a kilo because, you know, I
- 14:32think a kilo, you know, by the time you get to that size and if
- 14:36you get into a situation where we need to buy and trade, that's
- 14:39a lot of silver to buy and trade with.
- 14:42I mean, so I mean, I think 10 oz from my Max, you know, I mean,
- 14:45that's not financial advice to anybody out there on, you know,
- 14:49to your viewers or my viewers. It's just the way I'm looking at
- 14:53silver. This right, This right, this
- 14:55right now, Yeah. Yeah, very interesting.
- 14:57So again, everybody, this is the Coin Shop Chris YouTube channel.
- 15:01Just go to the YouTube search bar, type in Coin Shop, Chris,
- 15:05subscribe, and he's got some great content out there.
- 15:09Yeah, it's interesting developments, Chris, that we're
- 15:11seeing. Anything else you want to bring
- 15:13up for our viewer? Oh yes diagnose story it was a
- 15:18lady that called not called us but she emailed the shop on
- 15:22Labor Day Ron and she was an older lady and she has 2 twin
- 15:28not 2 twin daughters. She has two granddaughters, I
- 15:31should say 1:25 and 1:32. And she wanted to go to bingo so
- 15:37bad on Monday night and we were closed.
- 15:40So I said I'll come down and I'll write you a ticket up for
- 15:43the $5 silver dime so she can get her money.
- 15:47And she wanted, only wanted 60 bucks.
- 15:50Run. I says no, ma'am.
- 15:51I said I can't write a ticket up for 60 bucks.
- 15:53I says I'm not going to do that to you.
- 15:55I says. I says I want to write the
- 15:57ticket up for 105 bucks and she said that's what we're paying
- 16:00for one roll of Don right now. She's no, that's too much.
- 16:03I said, well, I said, I'll tell you what I said I'll write that
- 16:05for 100 bucks, but that's the lowest I'm going to go.
- 16:07While she was happy with that, she went to Bingo Ron and she
- 16:13won 600 bucks. She comes back in and well,
- 16:16could be. When I first gave her the money,
- 16:18she said, can I give you a hug, Chris?
- 16:20I said sure, you can give me a hug.
- 16:27I'm going to even leave that one alone.
- 16:31So thanks, Ron. So.
- 16:36She gave you a hug. So she so she gave me a hug,
- 16:39Ron, and she went to bingo and she comes back the next morning
- 16:43to pay off the Dimes and she says I won 600 bucks in Dimes.
- 16:47I mean, in, in bingo money, you know, cash, you know, now I'm
- 16:51getting all confused with that with, with that comment there,
- 16:53Ron, I'm just calling. She was very happy.
- 16:57So 3, three more rolls of Dimes. And what she's doing is the last
- 17:00five or six years for her granddaughters, she's giving
- 17:04them $100 in face value of junk silver every single year.
- 17:09And guess what? The two granddaughters also
- 17:12stack, which is awesome to see. So you're you're that is.
- 17:16You're the you're the bingo savior, Chris.
- 17:18That's a that's a heartwarming story.
- 17:20I was waiting for you to tell me.
- 17:21She gave you like 100 bucks but all she gave you was a hug
- 17:24sounds like. She gave me a hug that was worth
- 17:26more than 100 bucks. One.
- 17:28You know what it is? I'll tell a real quick story.
- 17:31Or I have a little job at night and these little kids come in
- 17:34and there was a little 4 year old boy who just came to the
- 17:38United States from South Korea. This was like a year and a half
- 17:41ago and he couldn't speak any English.
- 17:43And he came into my office and he looked at me and this is the
- 17:47second time that he'd come to the school, little school where
- 17:50I work at. And and he looked at me and he
- 17:52put his arms out like this and then gave me a hug.
- 17:54And I swear it was like the most one of the most besides my own
- 17:57kids, one of the most heartwarming things that ever
- 17:59happened to me. It's hugs are good, Chris.
- 18:03Well, he but he got confused, Ron, because he thought you were
- 18:06Santa Claus. All right, buddy.
- 18:10We'll, we'll go. Go.
- 18:11You got more stories. I just got one more thing.
- 18:14I actually had a comment on one of my videos.
- 18:17This feels like when I'm on the phone with you, you always do
- 18:19that. I got one more thing.
- 18:20I got one more thing. I got one more thing, Ron.
- 18:23I got, you know, the, the comment read, you know, there's
- 18:25a homeless guy in this area and with the, with this viewer that
- 18:29I had and he collects cans and bottles and what he does with
- 18:34that money, he goes into to their local coin shop and buys
- 18:3890% silver. So the point to this story is if
- 18:43it's OK to go into a local coin shop and buy a couple silver
- 18:47Dimes, a couple silver coins, if that's all you can afford to do,
- 18:51do so. I mean, that is the major point
- 18:54right there. I mean, if this guy can do it
- 18:55and he don't have a home and I don't know the guy's back, the,
- 18:59the background, the, the, the person who left the comment
- 19:02didn't give me too much more information than that.
- 19:05But I thought that was a pretty good story there that a homeless
- 19:08guy is stacking 90% silver and he's probably don't have a lot
- 19:14of income to begin with. Yeah, Yeah.
- 19:16That means you can do it too. Well, hey, we appreciate your
- 19:19update of what's going on on the street.
- 19:22We're going to have you on on a real.
- 19:24You're already on the channel on a regular basis, but we'll
- 19:26continue this because I think it's important.
- 19:29You know, I think that that we get so much news like from
- 19:32Kitco, which is great. And you know, the big news
- 19:34sources about what's going on with the Comex and the LBMA and
- 19:38China and India and all this stuff.
- 19:40And we even get news about the big bullion dealers.
- 19:43But to get it straight from you, like you're a guy, you're in the
- 19:46trenches every day working and it's kind of seeing what the
- 19:50average American is dealing with and, and, and how they're
- 19:54interacting with the silver and gold market.
- 19:58Yeah. So we really appreciate your
- 19:59insights, Chris. I'm going to encourage everyone
- 20:01again to go to Chris's YouTube channel, Point shop chris.com.
- 20:05Like share, subscribe, please, with my channel as well.
- 20:09Chris, any parting words you have for our guest today?
- 20:12No, I just like like to thank you again to all your viewers,
- 20:15Ron, for coming over from your channel.
- 20:18I really appreciate that. You are the best, Ron.
- 20:21I mean, you speak the truth about Steven Gold.
- 20:25There's not too many honest people out there like you and me
- 20:29doing this. And it's not easy, Ron.
- 20:31And I give you a lot of credit because you can go and have a
- 20:34long, Long live stream. And I don't know how you do it,
- 20:38Ron, because I'm just about cooked at about 1520 minutes.
- 20:41So I mean, well, I'm thank you, Ron.
- 20:44I think I'm permanently cooked. That might be the answer.
- 20:47So all right, buddy. Thank you.
- 20:49OK. And thanks, Ron.
- 20:50Thanks to our viewer, right? There's me and you and there's.
- 20:52That third person. The viewer, thank you for
- 20:55spending this time with us here in the basement and coin shop.
- 20:58Chris and I will be back again soon.
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