Metal premiums are Crashing! Time to give up on SILVER & GOLD?
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- เผยแพร่เมื่อ 7 ก.พ. 2025
- Historically, gold and silver have been tried and tested to be winners in inflationary times. Gold has increased in value over the last couple of years, but why hasn’t SILVER. In today’s video, I discuss the past 30 days and how metals performed.
I also discuss customer sentiment about the metals markets and how it has impacted traffic in the shop. I also discuss current buy back prices on metals and why they are weak.
Have I given up on precious metals? Should you? Watch this video to get my take on it!
Here is the link to the @SilverSeeker video about coin shop buy back prices: • I Tried to SELL My Sil...
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Low spot and low premiums usually don’t hang around very long. Good time to buy.
Agree
I bought a lot of silver in the run up to $48 in 2008. I stopped at $44, my mistake was not selling at the peak. Demographics, age is another factor. I have been retired for over 5.5 years, wife couldn't have kids. I am starting to sell now so that I can travel. A lot of the guys I used to work with gave me a hard time about buying silver, my response was that stocks go up & down & some companies go out of business, but silver never stops being silver.
Nahhh I don’t think so the inflation is so high you would of lost money
Dip in price and premium, buy buy buy! Skip a Starbucks coffee and buy dimes. Eat at home more often and buy 2 ozs. Do what you can afford and the security will be worth it. You get to play with your stack on a rainy or snowy day. Free entertainment.
Agreed!
Then your heirs will buy Starbucks and iPhones.
I can pop in to several places hotels, banks etc that offer Free coffee and that savings is SILVER🎉
Low premiums stack silver
12:04
Things are a lot tougher out there than most analysts, at least those in the main stream, are openly admitting. I know things are harder for me personally. I've also wondered if there's now a bit of backlash against the Wall Street Silver crowd. Maybe I'm wrong, but I have wondered. In any case it's a buyers market for both metals. Thanks as always, Josh!
Super seasoned stacker here! I'm happy with the buying opportunity! ❤
Between inflation, the increased fees, taxes, regulations, et al, people are hurting for spare cash. For many, bullion takes a back seat. I've transitioned to an 'only gold' focus now but if silver drops below $20, I'm gonna get back in for full tubes as best I'm able. BTW, I lived in Minot when I was about 5 years old. All I remember is cold, cold, cold...
Great frame of mind, good share. Who really wants a financial collapse, no one, I am sure.
Excellent chat! Keep it up!
Thanks, will do!
Excellent video, luckily I can come to the shop anytime I want, I love the story about buying the five oz’s and feeling like a king, we both have had that conversation.
This isn’t difficult to figure out. Premiums are based on demand, right now the economy and many people are financially in bad shape. Those people who are in bad shape financially are dumping silver and any other fungible asset to get cash. Dealers are taking in more than they are selling and so premiums are way down. This seems to be a good time to buy. you’re buying when there is desperation, fear and panic and you are selling when people are greedy, fomo, and premiums are ridiculous.
You know in reality people go to precious metals when the economy is like this
Definitely looking forward to your "how I got started and what you started your shop with. Thank you for your time input and GREAT content. Stay safe and Peace from the Sunflower State!!!!
Silver is my Insurance fund, now my speculation play is Sandstorm Gold Royalties of which I increased my stock position to a tad over 6500 shares. Two corner-stone royalty assets will start producing this summer that are not priced in...a Steal!
The best thing for silver would be to crash in price below $21 an ounce. Until then the same will keep on happening on the retail level, more sellers than buyers, dealers who slow down massively from distributors, and distributors slowing down from refiners/miners. Hence the falling premiums.
Add in an economy thats destroying main street, and we get what we have.
There is very little incentive to buy now, and if you do, it is absolutely a buyers market.
I think this is the way the government confenscats precious metals in 2024
The problem with the GSR is you don't know if gold is overpriced or silver is underpriced.
Slow and steady growth is always better than a huge jump.
Huge jumps are always followed by huge dips.
Last year silver eagles were $38 dollars here.. now under $30. 😊
Good stuff Josh, Also Looking forward to that video you said was in the works
IMO, the upcoming months will be an excellent time to buy. People are struggling financially. Therefore, the demand is low and should stay low. This will bring premiums down and obviously prices will drop as well. So I'm gearing up to buy as much as I can afford. Best of luck to all of you.
Your business being up 50% over last year may be affected by your youtube growth. Either way I'm glad for you.
Josh I appreciate your sage commentary.
I appreciate that
That gold Engelhard bar would look sweet next to my JM gold bar 😁👍🏻
Myself and many friends are putting our money into fractional silver, not so much for stacking purposes, but more for bartering in a SHTF scenario. Our problem is that we can't find small increment silver at a reasonable price. Premiums on 1 gram silver are unrealistic so we're researching producing 1 or 1/2 gram silver at an affordable price. We're currently buying junk silver, but if anyone has any ideas or advice on how we can cut prices on this, it will be greatly appreciated.
With all the industrial use of silver specifically in the military sector, there has been times where silver was in short supply even only a year ago. I remember that dealers were saying they had no silver being sold out about 9 months ago. There are TH-cam videos supporting those points. It might have dried up for a number of reasons, but I’m most concerned about silver confiscation due to the military. I just heard that it takes about 14 to 16 kilos of silver to make one Tomahawk missile! So, with that said, I’d hate to have a bunch of silver that I saved up to buy to only have it all taken away. I love to stack, but I do have my concerns. Any thoughts?
A lot of people would tell you to also invest in some personal protection equipment 😂
They are using million-dollar missiles to shoot down $1,000 drones
The usa printed lots of money in covid era , nevertheless silver prices are going down, Is there any other investment that protect us from inflation? Thanks from Turkey.
Historically gold was traded 15 to 20 oz of silver to one ounce of gold. And it's minded out of the ground 8 oz to 1 oz of gold..
I would love to hear your thoughts on two areas. Stacking gold vs buying pre33 gold. I’m torn between just stacking low premium gold that will always follow melt. Vs saving up for graded and non graded gold that’s pre33 and my favorite Mexican pesos. Anyways appreciate your videos from a neighboring state.
The issue with pre 33 gold is people want 10-20% premium over melt right now, and that's for 10 and 20$ liberty heads. The premiums on 5, 2.5, and 1$ pre 33 is insane. Close to 100% for the latter.
For me personally I would choose to stack lower premium gold Bullion instead of pre-33 gold collector coins with higher premiums.
stack on !!! under 20 bucks an ounce ??? back up the truck and fill up YEA BABY !!
Thanks
Love sub $22.50 spot prices and $.50-$2.00 premiums!
Flipping gold to silver is dumb considering the premiums, even at these reduced premiums. Just buy the damn silver outright if one really believes in PMs.
Stacking gold is dumb at the ratio of 90+ to 1. 🤪
I just swapped some gold for silver. a no-brainer at a GSR of 90. when (not if) the GSR collapses below 15 I may swap back. but at the moment there is more gold above ground than silver. gold isn't really needed but silver is (we wouldn't have this video to watch without it). a 1:1 ratio isn't out of the question...and has happened before.
@@lepton31415 ..yep!!
I agree, playing the gold silver ratio. Flipping back-and-forth is a very time consuming and can take years, waiting for it to get above 90 and then drop below 70 to convert back, and even at that with the premiums/supply and demand at the time, unless you are a coin dealer/shop owner that can avoid the majority of the premiums etc. just ballpark numbers, let’s say you’re dealing with a 1 ounce gold buffalo, and you convert to silver back to gold, minus the premiums and supply and demand not to mention waiting years for the ratio to drop from 90 to 70 and back up. You’re only going to save about $200 or roughly 8 ounces of silver, so yes, you can save money or a.k.a. what some people are saying, get free silver, but if that’s the road you want to take to do it, good luck to you, I just prefer to buy the dips of the metals that I am wanting at the time buy being patient, etc.
lol...nothing is dumb if youre coming out ahead financially. Im sure we're all smart enough to do the math even with the premiums considered
My coin shop here in Kansas is charging 8.00 to 15.00 over spot, and if I buy on line I must pay shipping which cost me way over spot. So my question is am I getting screwed, and if so how can I do better.
Where on Kansas? That seems off
What the hell you buying?
I wish I had a coin shop in my area.....
You surely do. I didn’t think I had any and a google search led me to my new favorite place to take my daughters and pick out treasure every Saturday. There’s another nicer looking shop but the one I go to is cheaper. 3 over spot basically price matching JM bullion and doesn’t charge extra for nuemismatic value stuff like rarer poured vintage bars. Let’s me know when I’m getting something cheap compared to actual value based on rarity. Super nice dude. Just google and surely there’s one within 50 miles of you and if not maybe you should start the first one haha I would if there wasn’t multiple decent stores in my area I haven’t even visited them all yet
@@JAK0E Nope I don't. No coin shops in my area.
I HATE.......#PUMPERS!!! Good video! LIKE #192
Is any of that lot for sale on the title screen? Some nice pieces there!
Yep! All for sale!
I want prices to remain low for 15 years, then they can go up!
They will. Prices are the same now as 2013. It will be about the same in 2100.
i don't even know or pay attention if silver go up or down i have few 1oz coins and rounds couple 5oz 10oz but why i don't see 15oz or 20oz bars i like to own 1 or 2 of those johs
ALWAYS.....DOLLAR COST AVERAGE!!! I watched that SILVER SEEKER video also. UNDER SPOT!!!!! wow!
If I need to lean on somebody for support, I'll give up drinking. Keep Stacking!
Im surprised that you dont know your own average cost! I have not calculated mine yet. But i do have a receipt for everything i have purchased. Only been stacking a year tho.
I'd be interested in that USS Constitution "Honest Value Never Fails" round. ❤
Time to stack is now. Go long on silver.
The new silver round that I follow for premium has gone up 29 cents since the 15th.
Dealers wanting more than 1$ over spot are robbing you when most are paying back of spot and selling to dealers / refineries rn.
@@TheMostSlyFox Maybe I'm misunderstanding you, but I've never seen a silver round for a dollar over. The lowest I recall was $1.88.
😢thank you for the info 😢
When people ask me, I tell them to look at a single constitutional quarter. There was a time you could buy a gallon of gas with it. That same quarter is now worth about a gallon of gas. Keep stacking buy the dips.
Great stuff Josh
Love low premium I can mentally afford limited edition cool pieces like the silver starwars bescar bars
I’m sorry for not stacking gold I don’t have the finances to do so and I’m very depressed I am sorry for not stacking good I apologize 😢
Every time I get over 800 ozs. I swap it for GOLD , it’s a win win !!
Asset prices tend to fall going into a recession but eventually go higher.
Why Not Minot..
Would you like that list alphabetically or by what I deem the biggest? 😂
'73-'79 USAF SAC SP here... spent a TDY as it was a saying if you had orders there.
People still want 90$ over spot for AGE's with gold price this high... 💀
Premiums (wholesale & retail) on AGEs and Gold Buffaloes have remained fairly steady and have not decreased like silver premiums have.
It's a good time to buy silver.. 1 Year from now, not so much. Just my opinion
Time to buy more
I buy silver nearly daily...but I mostly buy collectible stuff or rounds that I think have a design that will bring premiums in the future...it works very well for me.
Matter of fact, lots of the silver I bought has been going up. I look at every new round that comes out over the years and if I think it will do well, I buy a bunch of them and none and I mean none have gone down in price. This is why I never buy Indian head/buffalo rounds, mass produced one ounce rounds, Eagles, Maples or any other gov minted stuff. I do own lots of 90% silver especially 1964 JFK's, Franklins and Walking Liberty's. Intaglio, Elemental, Norse Gods, Pirate rounds, SBSS, CMG, All-Chips, Anonymous Mint, 1970's rounds and bars etc etc.
Excellent. Minot will buy all your Pirate rounds for more than you paid.@@bobsilver3983
Metals are going to do what they have always done. It's a long game.
Crashing means you buy more
so you bought silver @ $27 per ounce. And now you see your chance to trade it in for an ounce of gold. 90 to 1 ratio
90 X 27 = 2430.
I believe now is a good opportunity to trade gold for silver, not silver for gold…..
Some Scrooges don't see people selling their stuff for drinks.
Down, Down, and Down...............the reality of Silver !
It’s A Marathon not a Sprint! Keep Hustlin
It’s been crisis after crisis and Silver was still flat in 2023, and is still getting pummeled in 2024 as crisis continues to elevate
They are creating the order out of chaos while the sheeple are plump on bread and circuses 🎪
And lots of people even Republicans believe nothing is wrong with the national debt.
Right now there is fake silver over there in stocks! The gov can manipulate the price by increasing the supply
A big spike in metal prices as a result of a catastrophe isnot going to make a stacker rich. Youll be trada silver ounce for acarton of eggs.
I’ll take everyone’s silver if you don’t want it. I’ll give you some dollar 😊
Nope. Time to back the truck up & load up.
I'm waiting for silver going for $10 a ounce then I buy a thousand ounces.
I am now trying to discover silvers goods and services purposes
The Silver Physical Market is DEAD! People are flat broke and are forced to sell their precious metals.
Not the people who are invested in the stock market
Gold is for upper middle class and higher for good now. It's way overvalued.
Not broke here; I swap my silver when I get 600 ozs, for gold , it’s a win for me !
Everything is regional. In my city, the metals never missed a beat. Yes there's highs & lows that you'd expect with any business, but it helps that we have 3 LCSs in less than a 20 mile radius, as well as good sized pawn shops and a few jewelers that deal in bullion too.
Yes, there's people that are selling for the first time, but the dealers here have built up good relationships with their customers for decades......if a few 10oz bars come in, they have clients for them that are a text away. Vintage silver, generic, doesn't matter......they know who's a player for what.
It's very competitive here with rates too. If any of the dealers here wanted to play it cheap and offer $3 back, good luck with that, as the person walks out and sells it to the competition 30 minutes later for more money.
The one constant that I'm seeing around here with the sellers are that the majority of them are newbies......people that looked to get rich quick in the metals world and had no idea about the paper price being manipulated and detached from the actual purchase price of physical.
Unfortunately there's no shortage of this mindset, as we've seen it playout with the cryptos and other things the newbie retail investor got into.
Let's pretend silver and gold go up 4x. Would numismatic value go 4x also?
I doubt it. Certain numismatic coins may but most wouldn’t. When Silver spot was twice as high in 2011, numismatics weren’t worth twice as much as they are today.
Give up? Lmao.. when prices are down is when you get in or increase your position. Buy when it's down not when it's in an uptrend.
20 Years from now, Silver at 18 bucks.............................yawn.............
Yes, give up, you can't win with silver.
Sell and you only ensure your loss