also... if you think about it... once silver becomes more rare... gold will then be used more than anything and then gold will go back up after silver has its time.
Sir no matter what ppl say, let them be poor when time will come, they will regret it, just like I do now when I heard to buy silver 5 years ago and i looked at them like they are idiots... :( Any who I agree with you 100%
no...why would u sell it for US money...take it to a international bank an sell it to the country that has the strongest dollar then change that forigen dollar to a country that has a sweet ass tropical island for sale with a hot ass filipina on it (like mine :) an retire there... silver an gold baby...yukon cornelious had it right people
Buy on rumor sell on fact. Today if you told someone that silver is more rare than gold, dollar is collapsing and silver is manipulated they will not know any of this and may not believe you.
When they agree then you sell. Here is why...
Go ask anyone if a house is a good investment and they will most likely say yes.
So when the public knows about silver don't worry about it doubling after you sold (and it will) leave the last bit of upside for them (just don't hold dollars).
I love silver, but heres my concern, when you go to sell that bar of silver, the person buying it, may not give you exactly what its worth, he'll say, "its got a scratch", just to keep from paying you what its worth.
@davincij15 When buying silver eagles from a shop, should I ask for a certifacate of authencity? I want to buy from this one shop in my area but they don't give certifacates
I'm not being sarcastic but do you ask for a certificate of authenticity when you get change from a store?
Why not?
The reason is should people hand fake legal tender the FBI will rain hell and fire on their ass like nothing they have ever seen. The same goes for silver eagles.
Whatever works for you. However you should consider the fact that silver will be hard to come by in the future and governments may try to confiscate it. Since they will not take numismatic rounds or coins you may want to go with those kind.
Great vid! I'm holding ag. So many opinions on selling at this price or that price. I'm in for just value down the road... what ever that value is... most likely alot, because debt is creating debt with more debt as solutions... no arithmetic required.
If no one ever sells there sliver and production stops should be great value. Pass it onto your kids and there kids and there kids. Do not even trade for metals unless 1 oz gets a car or something.
There is 66 trillion dollars worth of currency and only 30 billion in silver at current prices. If just one retirement fund with over 1 billion where to put just 10% into physical silver (not SLV) they would move the price $10 If all funds just put 1% they would move the price to 300+ dollars.
I'll keep my Physical metal. I have enough- and am now using it to purchase good land, and other hard assetts- like earth-moving equiment, trucks, and farm machinery- that is being sold for pennies/dollar, b/c of banckruptcy.
I'll keep my Physical metal. I have enough- and am now using it to purchase good land, and other hard assetts- like earth-moving equiment, trucks, and farm machinery- that is being sold for pennies/dollar, b/c of banckruptcy.
I'll keep my Physical metal. I have enough- and am now using it to purchase good land, and other hard assetts- like earth-moving equiment, trucks, and farm machinery- that is being sold for pennies/dollar, b/c of banckruptcy.
I'll keep my Physical metal. I have enough- and am now using it to purchase good land, and other hard assetts- like earth-moving equiment, trucks, and farm machinery- that is being sold for pennies/dollar, b/c of banckruptcy.
hey bud if you are from Toronto I wonder which coin shop you are dealing with , also contact me by pm I deal in silver and I buy and sell let see if we can do some business together...
Everybody has silver and dont even know it.... Old mirrors, very old photographs, teeth fillings. It will be a while before silver hit $100. In 2001 when silver was $5 oz people thought it would be end of the world when $30 oil hits $100. Thing is industrial application materials are easily manipulated by fiat.
there is 75 Trillion dollars worth of currency and at any point in time that number can double in a blink of an eye. Soooo just like you can buy bread for 200 trillion in Zimbabwe you will be able to buy gold for 1 million. Get it?
It gets worse... currency collapses happen instantly it doesn't happen slowly. Look it up it's called the crack up boom where the population realize that the monetary authorities policy will remain the same (print more money) to support the government deficit spending.
That's why you better have silver before that storm hits or you will be shit out of luck like Katrina victims.
The US dollar will be dead by 2012. Keep your silver and you will trade the silver for goods and services. Yes silver will go to $80 or even 100 but trade with it ! If you can buy more!
When silver gets high enough and everyone starts selling their stacks and collections, the market will be flooded in a week and the price will drop from $100 plus, back down to $20 dollars an oz or lower!!!
So its good to invest in, but know when to get out!!!
What happens if the opposite happens where people realize there dollar will be printed into oblivion and everyone rushes into real assets? The world would be flooded with dollars in a week so it's good to be out long before that happens. :)
But I'm sure you believe Helicopter Ben when he says he will stop the helicopter drops once he see's inflation.
@davincij15 People are tempted by money,yes even silver and gold investors... I didnt buy my silver to prepare for the end of the world, I bought mine to make a future profit on(trade for paper money), and if silver hits $100 an oz, I can pretty much guarantee you that most people will sale... If silver gets up to $100 an oz, Ill trade mine for dead presidents!!!s
@Sniperman1964 "everyone starts selling their stacks and collections" Silver is being consumed much faster than it is being mined because of it industrial uses. The fact that people are starting to lose faith in paper money only increases that consumption. The time to get out of silver is NEVER. You will need it and gold in order to buy commodities like food, fuel and energy. Fiat currencies have only been around for 500 years and they all eventually fail. PMs have been money for 5000 years.
@augenbutter The whole point is to trade it back to paper when you get ten or fifty times the amount of paper required to attain the initial purchase. 30k in the bank gets you about $150 a year or possibly $500 if you are in a savings program, and you have to pay taxes on that. 30k worth of silver will get you a return of $2500/yr tax free. If a boom on silver ever happens that 30k of silver may be worth 300k with no government to dip his nuts in.
"dimes , quarters, halves, and dollars were never pure silver...only 90 percent" Isn't that awesome. Physical coinage use in everyday transactions, 90% silver. The silver content is now far superior than the face value of the coin. 90% silver. That's almost equal to the content of a silver bar or an ASE or Englehart silver bars for example. Totally awesome. I bought 100s of "junk silver" coins in 2010 using ebay and I therefore rock. I have graduated to buying at the local coin shop.
Brilliant!! Thanks for this video. I've been purchasing silver but I hadn't made this simple connection yet as to what I would do with it if needed to purchase necessities. Thanks for that info!!
@davincij15 When silver gets high enough and everyone starts selling their stacks and collections, the market will be flooded in a week and the price will drop from $100 plus, back down to $20 dollars an oz or lower!!!
So its good to invest in, but know when to get out!!!
Yeah and that is when you will get taxed on your silver investment. When the bank says "Ya no problem just get their SSN and TIN and we will send the money right over, or better yet just get the bar from them and tell them we will mail them a check!"
can you talk more about cashing out. i believe there are capital gain taxes. once silver goes through the roof, anything sold or bought over $10000 will need a 1099. and i know you know about the 2012 legislation that is being considered right now as well. what then? Thanks.
I don't see an issue what if you buy stocks and they go up? What if you buy anything and it goes up what then? You have to pay taxes on everything you invest except cash.
@davincij15 Most dealers pay in cash when you cash out unless you sell silver/gold in very large amounts. When you do cash out, you will be stuck with paper. If you try to deposit large amounts of cash into a bank, you'll receive some unwanted attention from big brother. selling little by little doesn't seem very smart when silver pops. I appreciate your input. Thanks in advance.
@davincij15 At the moment yes - but if silver is the achilles heal of the banking system its gonna come in for sepcial attention when the FIAT faces collapse - so if we're lookin at 90% or 99% tax - then its distinctly worse than "stocks, anything etc"
Also, if silver was to go to a million dollars, you really wouldn't have a million dollars. Silver and gold are inversely proportional to fiat currency. Right now, silver is at $25. Lets says with that you can buy 25 loaves of bread. If silver skyrocketed to even $1,000, you would still only be able to get 25 loaves of bread due to inflation because with silver, you are hedging the dollar. You won't lose anything and won't gain much. I think you shouldn't sell your silver unless you need cash.
I like your thinking but think of it more like this. Collect debt now (buy a rental or two) with your cash flow buy silver. The silver will go up but the price of the houses stay the same. Pay off a 200k house with 20k worth of silver.
I understand that that is how you trade in your silver for money. I know for a fact that in other countries, you can go directly to the bank and buy silver. But in the United States, banks actually still deal with gold and silver? I didn't think that they do because 95% of Americans, if not more, think that fiat currency is the only true currency.
1964 was the last year, dimes,quarters, halfs were still pure silver, What would be worth more today, if you had bought 500 dollars in 1964 coins, and held on to them, or had put the money in a good mutual fund? I don't know how much the 500 dollars
of coins would weigh, and I don't know , how much return a good average fund payed over this time frame, any idea?
@Jay123u how so? if we didnt have money we wouldnt get things for free. we would have to barter with goods like food or water. money just makes it easier for us t obtain the goods we need.
Wait until you want something big like that hobby farm and bunker you've always wanted which you now see is foreclosed. Go straight to the bank and trade one real asset for another, because if silver is $1000 an oz paper will be worthless.
Precious metals preserve one's wealth. Whatever you can buy with it now you could buy with it post shtf. It's most likely that we'll trade bars and coins with each other, independent of any financial institution. People traded silver in the past for food and other goods and services.
100 oz bars are hard to sell, so a coin shop may choose not to even buy it or may buy the bar for a lot more below spot than on small 1 oz bars & rounds.
Hey davincij15, great videos very informative.I have a couple questions if you don't mind.I have 40 american silver eagles right now and I am wondering as a cash strapped(semi-broke) silver investor would you recommend buying coins or bullion, or does it matter in your opinion.I will be up there in 5-10 years once I have to "bug out" from the US.
The cheap stuff will make it harder for you to liquidate in the future, coins do not need to be essayed so they will be much easier to cash out or trade directly for goods.
Whatever... dude I go to coin shop with 10 oz gold bars and he has told me no problems. Also, any coin shop doing hedging will never have any problems buying gold or silver at any price.
Take, the time to learn that since the money is created out of debt and a buyer is locked in on an exchange there will always be a way to trade your silver and gold for paper notes.
I read you statement and I am reminded of how many people do not believe that money is created out of nothing when people go into debt. The actually believe that it can't be because it would be unfair for such a system to exist.
Even documentation of that fact does not convince them because it's to horrifying a truth to be true.
Most of the human race is screwed and I have to get away from those people because they will bring me down.
I think your thinking is flawed. The dollar hasn't been tied to silver for a looooong time. Nixon made sure we would never be tied to precious metals again and we were taken away from gold in the 50's. I could print dollars all day but it won't be worth as much tomorrow. We were taken off the standards so the government could manipulate the dollar... idiots.
@davincij15 They were idiots to take us off the standard. If you don't believe it was a bad decision for the economy, perhaps you should look at the markets of the world. We have held ourselves up by a piece of paper. Borrowing on money that's not there. Watching this again, I think I misheard something you said and take it back, you're not flawed in your thinking. But my post on our politicians, like Nixon for example, being "idiots" stands.
@rickrocker The US was taken of the Gold Standard from greed and thievery. In 1933 the US National Treasury was stolen and remains in the hands of THE ENEMY. Google HJR 192 and read it. The US has been in bankruptcy since then and the government has been under emergency powers since then. How do you think the President can take us into war without an Act of Congress? Presidential use of the Emergency Powers established in 1933 is the answer.
Both are fine but if you see a future retirement in metals like I do then keep your bars small so you will be under the radar when cashing them in for the paper money of the day.
I own 100oz bars myself, but i do not think that the price of silver will reach $1000 oz because I think the government will set price control. $1000 oz is just to unrealistic in my opinion. I think it will be more like $50-$100 oz to be more on the conservative side. I think people should own some small bar or coins for barter purposes. I don't care if Uncle Sam knows about my transactions because I will profit when the Shit hits the fan
Its more of a blow off top value than a every day value like $20 is today.
You don't understand what's about to happen...
Search for
"Why Gold & Silver? The Bullion Movie - Mike Maloney (Trailer) "
Any data in that video you want me to provide official data I will! In that image they showed you picture of world wide gold supply in reference to a tense court well world wide silver is smaller than that.
gold + silver works like this, gold is the true state of money, notes and coins throughout a country reflect what that countrys gold reserve is ( how much money there gold is worth say £1000 per oz ) so if a country had say 1000oz olf gold in its national reserve, that country would only be aloud to have 1 million worth of coin and note curency in circulation, thats how price goes up, the more a country has or less etc.
Maybe in your country raver, but in the USofA there hasn't been a gold standard since Ronald Reagan. The US dollar is just a piece of paper, backed by nothing!
I'm not really buying silver to profit, I'm buying silver instead of putting money in the bank. If you wanted to sell your 100 oz. bar in say 5 years at a huge profit, why can't you just melt it down to 1/2 oz. balls? Pick up an old round ball maker and make some 1/2oz or 1 oz balls?
I called a bank today and not just any bank i called jp morgan chase and they told me under no circumstances would they loan anyone no matter how good there credit was any money to buy gold silver or any other coin or bullion item because the price is to volatile you would have to put up land or a house if you want the loan but NO LOANS ON GOLD OR SILVER PERIOD!!!
You asked the wrong person because there is a way to start a business buying and selling gold.
Look I can walk into Royal bank of Canada as them for gold bars and they will actually try and charge me taxes on that even though there are no provincial sales taxes on any gold and silver bars.
Banks make mistakes.
One thing I know for sure they will not do is lend you money to buy gold. No way no how. BUT they will do it if you are buying and selling, it's called bridge loan.
from Wikipedia Bridge loans are often used for commercial real estate purchases to quickly close on a property, retrieve real estate from foreclosure, or take advantage of a short-term opportunity in order to secure long term financing.
who will give you long term finance on gold or silver? also would you give me the phone number of the Royal bank of canada's so i can call them?
Remembers me about something we tried last year. A group of people (all nice dressed) walked into Deutsche Bank building Frankfurt and asked for a business loan cause they wanted to start a bank.
This was just after the first huge bailout.
We asked the guys working there if the risk management team can give us some detailed information about why this business is to risky to give us money.
Of couse we didn't get anything from them other then a free ride with the security to the frontdoor.
my grandfather went to the bank said give me 50,000 to buy gold they said ok put up your house as well and he did it and then the price doubled and he sold it all.. so that was 50,000 profit..
Its worse than that. Just think how you will feel when you go into a coin shop to sell your silver and have it confiscated by G-men. Better find another market for your metal. What a thought, buying food on the black market with silver in the US. Sheesh.
im gonna take your word for it because im sure you know more about the topic than I, but sounds liek we should all open up bullion shops then if there is 0 risk involved...never heard of a business with 0 risk
Your risk is having enough buyers in the market and keeping your premums high enough for profit and low enough for people to come and buy. Then there is the cost of seting up the system with the futures market since you will be dealing with small volumes you will be going through an intermediary.
Etc,etc, etc...
It's a lot of work as I considered selling silver and gold.
First of all a coinshop doesnt HAVE to buy anything if silver got to $1,000/ounce which it never will because everyone would be selling by that time and nobody would be buying, but lets say for sake of arguement that it was at $1,000/ounce...its not like coinshops would be offering you $990/oz for your silver they know as well as everyone else its not staying there u might get offered like $200/oz
Bob offers Ed (dealer) 990 for silver bar. Ed gets short term contract from the Reserve for spot & buys the bar to net 10.
Before contract expires, spot drops to 200. Ed re-buys the contract by giving the Reserve the spot value of the bar (200) because the contract is 4 the bar's value, not a specific #.
Ted then sells the bar for 220 to Sue, to net 30 and effectively create 800 inflationary dollars out of thin air!
Bob is the person buying the silver contract for $1000 to be delivered or settled on 3 months from now. Ed, the dealer sells that $1000 contract to Bob. Ed then takes that money and gives you 990 for the silver bar.
IF Ed does not find a buyer in 3 months he gives the bar to Bob.
If spot price drops to $200 and Sue buys the bar at $220 then Ed buys back his silver contract from Bob or someone else for $200.
Bob or the person Bob sold the contract to loses $800.
just because a coin shop CAN buy silver at $1,000 an oz, why would it want to? You yourself davinci said in previous videos you dont trust the people to keep the price there, so why would a coin shop want it?
@PAJAY11 The coin shop will buy below what they resell it at, especially with silver. Silver is an industrial metal, the reason it's value increases is due to demand. When you offload your merch you sell below spot. This allows the dealer to make a profit when they offload the merch. Dealers are called dealers for a reason. They know how to make a buck.
Its true, the bank can just hand you a million bux made out of thin air for your precious gold bar which is very rare. Then you should take a step back and think... why am I giving my oz of gold away for some stupid paper???
Its only worth it because other people are so stupid as to accept your cash as payment for goods and services... once they refuse cash, you will see how quickly it does you no good
Guy, do us a favor and stop giving advice. There are a lot of novice and inexperienced silver investors watching these videos and you're already encouraging people to sell.
People have been asking how to buy silver, when to sell, and predicting the price increase for years now and yet, people are still buying.
I recommend you doing some research yourself before advising others on how to invest.
If you're selling when the average man comes up to you and says "hey, silver will double tomorrow", you're transferring his purchasing power to you. You're a hypocrite. After all you've said about how buying paper assets or whatever and trading it doesn't produce any wealth, we too can save wealth in those vehicles. You aren't producing any wealth either by saving in silver and letting the sucker buy it from you. Be consistent in your opinions.
you couldn't possibly be any more contradicting. Wheat is also a store of wealth. And so are equities. Equities have value because business have value. Thus ownership in business have value. You're so inconsistent, and you think by selling silver to a sucker when it's overvalued is somehow justified but other asset classes aren't.
Silver is the best form of money compared to wheat or stocks. Wheat can go bad, stocks are connected to the performance of the company and the number of shares they print, thus a stock is a higher risk than physical items.
Finally, all transactions can be looked at from your perspective, if you buy anything real you are giving the "sucker" a debt note while people are defaulting on the promise, the note represents.
@davincij15, No use arguing with people...Just remind people that tangible assets will carry you through hardships, no matter the cause of the hardship.
Hold onto your gold and silver until the U.S. and other world Fiat Currencies have been reset to thier proper value. Then the metals will have reached thier full value.
I would put more faith in gold and silver than I would the stock market. Gold and silver and other precious metals will always be worth something especially when the dollar crashes. Hold on to your gold and silver. If anything, keep buying more of it! DO NOT SELL! You are not going to get near what the gold or silver is worth. I only wish I had invested all my money in gold or silver years ago instead of the stock market. You live and you learn. I will only invest in tangible items from now on.
lol, not sure if that's smart. There will be a day when tangible items go down, and the stock goes up. Furthermore if you bought indecies, you would never lose all of your money. If you bought the Dow in 1982, you'd have 13 times more money in nominals terms. If you bought gold back then, you wouldn't even double your money. I'm not advocating equities now, but I'm just saying you have to play the cycle. It would be foolish to never buy intangible assets.
I'm not saying you have to do it...I am just saying this IS what I am doing. If the dollar were still backed by something I might be a little more brave with it but since it's not worth the paper it's printed on, I'm not! The stock market is a gamble. Just think about how badly the economy has been for the past year & a half yet the market is still going up. Employment rates up in 43 states last month, companies still laying off people left and right...stock market still going up? Not my gamble.
Not True the Dow is just keeping pace with inflation, 1982 dollars are not the same as todays dollars. Bread then was around .80cents a loaf now it is doubled. Milk then was around 1.02 now 3 or 4 times that. So the value and the price are 2 different things. Put your money in PM, gold and silver. Silver in 82 was 4.78 and last years high was 21.178. Don't know about you but that's 443%. I do believe that the Dow is good to but not the only game in town.
It's been my experience that coin shops/metal dealers will not pay what the days spot price happens to be. They want to pay less so they can reap an immidiate profit.
Yes, coin shops are very bad they try on people but if you push back and speak with knowledge of the system they back down and give you spot price at the very least.
It always seems I can never buy anything from them at spot price either,they want 10-20% more for this bar or that. I have been dabbeling in this for years. Seems when I go to buy or sell I'M never buying or selling at spot. Any advice is appreciated.
So you sell your silver and what do they pay you in? Paper money that is inflated to the point of being worthless. Hang onto your precious metals,someday you'll need to trade them for commodities you might need to survive.
silver will NEVER be 1000 per oz not even once the dollar crashes.... you'll never see 1k oz silver in our lifetime. i wish it would be 1k an oz, but it aint gonna happen.
davinchij15, you know through all this talk we had, you never answered my initial question. You brought up your thoughts on how the dollar is devaluing, even though I differ from the way you see it. I think the reason the dollar is decreasing is because China is expanding credit and causing their currency to devalue and b/c the US$ is pegged to the Yuan, the $ gets devalued with it. But you never answered WHY not HOW but WHY would they(whoever they are) devalue the $ to Zimbabwe levels?
If enough countries stop using the dollar as their reserve currency the game is over.
That's what it will take. Why?
Because their is no capital inside the USA it's all outside and thus the need to print it and give it to the banksters.
Thus everyone outside of the us holding dollars and trading it amongst themselves are seeing the value of real goods go up in price as the get more freshly printed dollars from the USA that has nothing to sell except debt.
@davincij15 Okay so basically the world will get tired of having a hard time finding products with the label "Made In the USA" and in retaliation they will stop exporting to the USA unless the US can give them something besides US dollars that is made in the USA. But credit is a tool of consumption. So when ever a nation grows through credit, it will be consuming more than producing. So every nation is headed down the same path since they all grow through credit expansion.
@davincij15 China even has slave labor. And to tell the truth, i don't think a world with a credit system would exist without slave labor because who in their right mind would choose to work if they could just come over to a nation where people get things for free(via credit). That's why China has slave labor, b/c people have to be forced to work when there are parts of the world giving away things for free. Credit encourages govt.s to create slave labor.
@davincij15 Well that whole slave labor thing in China is a mixed up issue. But as far as the working comment, I think you misunderstood me. No one works just for the sake of working. Check out inflationus' latest video about working for free. People work to get paid. And all I saying is that if there is a choice between working to get paid and NOT working to get paid, people will choose to not work and that is what credit provides. Credit is payment for work not done.
That statement is true and false at the same time. Thus I am having a difficult time following you as words such as "credit" have triple meanings.
"Credit" - can mean a positive balance to one person, an ability to go into debt for another, or to an accountant - a subtraction from a balance sheet.
When I discuss something I look at from the basic understanding.
I work for a perceived tangible item.
Defining what I actually got for my work is complex.
@davincij15 actually to an accountant, credit is an ADDITION to a balance sheet. DEBIT is a subtraction from a balance sheet. But in all definitions, credit is payment for work not done. Plus in a ponzi scheme system where you can pay off debts with borrowed money, you are essentially getting money for free. And we have been paying off debts with borrowed money since the banking system began.
also... if you think about it... once silver becomes more rare... gold will then be used more than anything and then gold will go back up after silver has its time.
bsmbprospecting40 3 weeks ago
Sir no matter what ppl say, let them be poor when time will come, they will regret it, just like I do now when I heard to buy silver 5 years ago and i looked at them like they are idiots... :( Any who I agree with you 100%
comrade86 2 months ago
no...why would u sell it for US money...take it to a international bank an sell it to the country that has the strongest dollar then change that forigen dollar to a country that has a sweet ass tropical island for sale with a hot ass filipina on it (like mine :) an retire there... silver an gold baby...yukon cornelious had it right people
PAprepper1 2 months ago
If people are asking to buy silver, wouldn't that be an increase in demand which would increase the price?
stormspottter 2 months ago
wouldn't it be better to hold onto silver just in case of the dollar collapsing?
stormspottter 2 months ago
@stormspottter
Buy on rumor sell on fact. Today if you told someone that silver is more rare than gold, dollar is collapsing and silver is manipulated they will not know any of this and may not believe you.
When they agree then you sell. Here is why...
Go ask anyone if a house is a good investment and they will most likely say yes.
So when the public knows about silver don't worry about it doubling after you sold (and it will) leave the last bit of upside for them (just don't hold dollars).
davincij15 2 months ago
I love silver, but heres my concern, when you go to sell that bar of silver, the person buying it, may not give you exactly what its worth, he'll say, "its got a scratch", just to keep from paying you what its worth.
Bkeytx 2 months ago
@Bkeytx
LOL, then you don't sell it to him.
I have never have that problem 5, 10, 20, or 100 oz bars have sold to different people they did not care that it was tarnished or scratched.
davincij15 2 months ago
@davincij15 When buying silver eagles from a shop, should I ask for a certifacate of authencity? I want to buy from this one shop in my area but they don't give certifacates
newtemeculain 1 month ago
@newtemeculain
I'm not being sarcastic but do you ask for a certificate of authenticity when you get change from a store?
Why not?
The reason is should people hand fake legal tender the FBI will rain hell and fire on their ass like nothing they have ever seen. The same goes for silver eagles.
davincij15 1 month ago
@newtemeculain
if it is silver, it is silver. very different from a real or fake signature.
you need to go down that shop & try to convince that man to sell to you @ a discount bc he has no certs. he will quietly laugh at you.
bigslice54 2 weeks ago
Is it better to have silver rounds or silver bars?
pipefitters1 2 months ago
@pipefitters1
Whatever works for you. However you should consider the fact that silver will be hard to come by in the future and governments may try to confiscate it. Since they will not take numismatic rounds or coins you may want to go with those kind.
davincij15 2 months ago
Great vid! I'm holding ag. So many opinions on selling at this price or that price. I'm in for just value down the road... what ever that value is... most likely alot, because debt is creating debt with more debt as solutions... no arithmetic required.
UnitedCorpOfAmerica 4 months ago
@UnitedCorpOfAmerica
You can tell when to sell is when the TV tells people to buy, buy, buy, everyday that's when you sell and hold something else but not paper.
davincij15 4 months ago
If no one ever sells there sliver and production stops should be great value. Pass it onto your kids and there kids and there kids. Do not even trade for metals unless 1 oz gets a car or something.
superhawkn 5 months ago
@superhawkn
then its WAY WAY over valued if you can buy a car with it. You should sell everything at that point.
davincij15 4 months ago
when silver is $1000 an ounce...your dollar will be absoultly worthless and we will be like zimbawea...check out Gold For Bread on youtube.
blai745 5 months ago
@blai745
There is 66 trillion dollars worth of currency and only 30 billion in silver at current prices. If just one retirement fund with over 1 billion where to put just 10% into physical silver (not SLV) they would move the price $10 If all funds just put 1% they would move the price to 300+ dollars.
davincij15 5 months ago
ron paul poster on the back
MrBigEnchilada 5 months ago
This has been flagged as spam show
I see the Ron Paul Sign! Ron Paul 2012!!!
Xeonise 5 months ago
Thanks for the video Davinci! Also, I love the Mona Lisa in the background! Very appropriate!
Kanderus 6 months ago
@Kanderus
:)
davincij15 6 months ago
Proud to see a black man supporting Ron Paul.
epohnopulse 6 months ago
@DannyWilsonsLaundry do you know Liz, a caterer for the Masters?
Or Camp Twin Creeks?
trackerscott 7 months ago
This has been flagged as spam show
hey there is this silver contest going on and if you would like to participate There is a link in my channel comments
the prize is a 2009 australian Koala graded ms-70
silverbullionair 8 months ago
better to have small silver coins instead of huge bars... they are easier for bartering and trading
zw0ecool 8 months ago
Nice video, thanks for sharing.
kosau123 8 months ago
Nice video
kosau123 8 months ago
thats why i dont like the 10 ozers
disclosurenow9 9 months ago
@disclosurenow9 100
disclosurenow9 9 months ago
I'll keep my Physical metal. I have enough- and am now using it to purchase good land, and other hard assetts- like earth-moving equiment, trucks, and farm machinery- that is being sold for pennies/dollar, b/c of banckruptcy.
Paper dollars? For suckers!
Patriotgal1 10 months ago
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I'll keep my Physical metal. I have enough- and am now using it to purchase good land, and other hard assetts- like earth-moving equiment, trucks, and farm machinery- that is being sold for pennies/dollar, b/c of banckruptcy.
Paper dollars? For suckers!
Patriotgal1 10 months ago
I'll keep my Physical metal. I have enough- and am now using it to purchase good land, and other hard assetts- like earth-moving equiment, trucks, and farm machinery- that is being sold for pennies/dollar, b/c of banckruptcy.
Paper dollars? For suckers!
Patriotgal1 10 months ago
I'll keep my Physical metal. I have enough- and am now using it to purchase good land, and other hard assetts- like earth-moving equiment, trucks, and farm machinery- that is being sold for pennies/dollar, b/c of banckruptcy.
Paper dollars? For suckers!
Patriotgal1 10 months ago
hey bud if you are from Toronto I wonder which coin shop you are dealing with , also contact me by pm I deal in silver and I buy and sell let see if we can do some business together...
povertyincanada 10 months ago
Everybody has silver and dont even know it.... Old mirrors, very old photographs, teeth fillings. It will be a while before silver hit $100. In 2001 when silver was $5 oz people thought it would be end of the world when $30 oil hits $100. Thing is industrial application materials are easily manipulated by fiat.
thaibu 11 months ago
They will shave them..how else?
FXNorm 11 months ago
@FXNorm
LOL
davincij15 11 months ago
@davincij15 that is a good question if gold becomes that valuable how will they buy it i mean who carries 1 million dollars on them
rvbsmcaboose 9 months ago
@rvbsmcaboose
there is 75 Trillion dollars worth of currency and at any point in time that number can double in a blink of an eye. Soooo just like you can buy bread for 200 trillion in Zimbabwe you will be able to buy gold for 1 million. Get it?
davincij15 9 months ago
@davincij15 Now that i think about it that does make sense
rvbsmcaboose 9 months ago
@rvbsmcaboose
It gets worse... currency collapses happen instantly it doesn't happen slowly. Look it up it's called the crack up boom where the population realize that the monetary authorities policy will remain the same (print more money) to support the government deficit spending.
That's why you better have silver before that storm hits or you will be shit out of luck like Katrina victims.
davincij15 9 months ago
@rvbsmcaboose wiretransfer/google wallet/ maybe you were right on the bitcoins...
trackerscott 7 months ago
The US dollar will be dead by 2012. Keep your silver and you will trade the silver for goods and services. Yes silver will go to $80 or even 100 but trade with it ! If you can buy more!
1thatisilluminated 11 months ago
When silver gets high enough and everyone starts selling their stacks and collections, the market will be flooded in a week and the price will drop from $100 plus, back down to $20 dollars an oz or lower!!!
So its good to invest in, but know when to get out!!!
Sniperman1964 1 year ago
@Sniperman1964
What happens if the opposite happens where people realize there dollar will be printed into oblivion and everyone rushes into real assets? The world would be flooded with dollars in a week so it's good to be out long before that happens. :)
But I'm sure you believe Helicopter Ben when he says he will stop the helicopter drops once he see's inflation.
davincij15 1 year ago 3
@davincij15 People are tempted by money,yes even silver and gold investors... I didnt buy my silver to prepare for the end of the world, I bought mine to make a future profit on(trade for paper money), and if silver hits $100 an oz, I can pretty much guarantee you that most people will sale... If silver gets up to $100 an oz, Ill trade mine for dead presidents!!!s
Sniperman1964 1 year ago
@Sniperman1964 "everyone starts selling their stacks and collections" Silver is being consumed much faster than it is being mined because of it industrial uses. The fact that people are starting to lose faith in paper money only increases that consumption. The time to get out of silver is NEVER. You will need it and gold in order to buy commodities like food, fuel and energy. Fiat currencies have only been around for 500 years and they all eventually fail. PMs have been money for 5000 years.
areyouready22 1 year ago
why would you change valuable silver back into worthless paper? use the silver to buy something else of value
augenbutter 1 year ago 7
@augenbutter
Yep GOLD or other assets.
davincij15 1 year ago
@davincij15 ye, wait for the ratio to come down and get some shiny yella.
stuttgurth 10 months ago
@augenbutter like butter
trackerscott 7 months ago
@augenbutter I don't know of any retail shops that will accept silver or any employees paid in silver and that will never happen.
shorfilmman 1 month ago
@augenbutter The whole point is to trade it back to paper when you get ten or fifty times the amount of paper required to attain the initial purchase. 30k in the bank gets you about $150 a year or possibly $500 if you are in a savings program, and you have to pay taxes on that. 30k worth of silver will get you a return of $2500/yr tax free. If a boom on silver ever happens that 30k of silver may be worth 300k with no government to dip his nuts in.
shorfilmman 1 month ago
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"dimes , quarters, halves, and dollars were never pure silver...only 90 percent" Isn't that awesome. Physical coinage use in everyday transactions, 90% silver. The silver content is now far superior than the face value of the coin. 90% silver. That's almost equal to the content of a silver bar or an ASE or Englehart silver bars for example. Totally awesome. I bought 100s of "junk silver" coins in 2010 using ebay and I therefore rock. I have graduated to buying at the local coin shop.
BackInsight 1 year ago
Brilliant!! Thanks for this video. I've been purchasing silver but I hadn't made this simple connection yet as to what I would do with it if needed to purchase necessities. Thanks for that info!!
jmcclellan54321 1 year ago
Now I know why the movie was called "The Wizzard of OZ"...OZ as in Ounces (oz)...Follow the Yellow Brick (Gold) Road.
younitehumanity 1 year ago
@younitehumanity
I the original story Dorthy had silver slippers.
davincij15 1 year ago
$1,000 an oz silver = $100 a gallon gas.
justsomedood1 1 year ago
@justsomedood1
Expectation of higher prices means people do something about it before it happens thus there is a bank run on real money... gold and silver.
davincij15 1 year ago
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@davincij15 When silver gets high enough and everyone starts selling their stacks and collections, the market will be flooded in a week and the price will drop from $100 plus, back down to $20 dollars an oz or lower!!!
So its good to invest in, but know when to get out!!!
Sniperman1964 1 year ago
i take the my profits from silver and invest in gold. Really the answer is you never sell. a mans worth is in oz's not fiat dollars!!!
beerun1 1 year ago
Yeah and that is when you will get taxed on your silver investment. When the bank says "Ya no problem just get their SSN and TIN and we will send the money right over, or better yet just get the bar from them and tell them we will mail them a check!"
ffolino56 1 year ago
hey davinci,
can you talk more about cashing out. i believe there are capital gain taxes. once silver goes through the roof, anything sold or bought over $10000 will need a 1099. and i know you know about the 2012 legislation that is being considered right now as well. what then? Thanks.
aznmav2 1 year ago
@aznmav2
I don't see an issue what if you buy stocks and they go up? What if you buy anything and it goes up what then? You have to pay taxes on everything you invest except cash.
davincij15 1 year ago
@davincij15 Most dealers pay in cash when you cash out unless you sell silver/gold in very large amounts. When you do cash out, you will be stuck with paper. If you try to deposit large amounts of cash into a bank, you'll receive some unwanted attention from big brother. selling little by little doesn't seem very smart when silver pops. I appreciate your input. Thanks in advance.
aznmav2 1 year ago
@davincij15 At the moment yes - but if silver is the achilles heal of the banking system its gonna come in for sepcial attention when the FIAT faces collapse - so if we're lookin at 90% or 99% tax - then its distinctly worse than "stocks, anything etc"
BiggerThinking1 1 year ago
Everybody's got to get off thinking of "money" as PAPER DOLLARS!
Its easier for me because when I was a boy and shoveled snow off
a neighbor's sidewalk or cut an elderly person's grass I got paid a
SILVER QUARTER, and if it was a whole driveway or a big lawn I
would get a SILVER HALF-DOLLAR.
Back then a silver half-dollar would buy you 3 or 4 gallons of gas. It
would buy a loaf a bread+a dozen eggs+a quart of milk.
SILVER & GOLD ARE REAL MONEY, PAPER IS NOTHING-FORGET IT!
4freespeech 1 year ago
Also, if silver was to go to a million dollars, you really wouldn't have a million dollars. Silver and gold are inversely proportional to fiat currency. Right now, silver is at $25. Lets says with that you can buy 25 loaves of bread. If silver skyrocketed to even $1,000, you would still only be able to get 25 loaves of bread due to inflation because with silver, you are hedging the dollar. You won't lose anything and won't gain much. I think you shouldn't sell your silver unless you need cash.
Metallicafan6611 1 year ago
@Metallicafan6611
I like your thinking but think of it more like this. Collect debt now (buy a rental or two) with your cash flow buy silver. The silver will go up but the price of the houses stay the same. Pay off a 200k house with 20k worth of silver.
ffolino56 1 year ago
I understand that that is how you trade in your silver for money. I know for a fact that in other countries, you can go directly to the bank and buy silver. But in the United States, banks actually still deal with gold and silver? I didn't think that they do because 95% of Americans, if not more, think that fiat currency is the only true currency.
Metallicafan6611 1 year ago
@Metallicafan6611
No the Us banks do not deal with gold or silver.
davincij15 1 year ago
@davincij15
they will, jp morgan just announce they would accept gold.
beerun1 1 year ago
Great video.. that whymewhysilver guy who bagged your video indulges in the self praise a little too much before getting to his point lol
OtagoMark 1 year ago
they'll cut you a check
BMWg84 1 year ago
1964 was the last year, dimes,quarters, halfs were still pure silver, What would be worth more today, if you had bought 500 dollars in 1964 coins, and held on to them, or had put the money in a good mutual fund? I don't know how much the 500 dollars
of coins would weigh, and I don't know , how much return a good average fund payed over this time frame, any idea?
federalwarhawk 1 year ago
@federalwarhawk dimes , quarters, halves, and dollars were never pure silver...only 90 percent
midgetandgaint 1 year ago
your right about this....great Video
SILVERSURFING514 1 year ago
"money is the most stupidest thing that man has created"
Jay123u 1 year ago
@Jay123u
A weapon is not the stupidest right? Just a means of fairly exchanging goods. LOL
davincij15 1 year ago
@Jay123u Would you rather go back bartering tomatoes for corn at the local market grounds?
EvvyThomas 1 year ago
@EvvyThomas there is gold and silver... money is just paper and currency which is unsteady...
Jay123u 1 year ago
@Jay123u how so? if we didnt have money we wouldnt get things for free. we would have to barter with goods like food or water. money just makes it easier for us t obtain the goods we need.
midgetandgaint 1 year ago
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@midgetandgaint there is gold and silver... money is just paper and currency which is unsteady...
Jay123u 1 year ago
Wait until you want something big like that hobby farm and bunker you've always wanted which you now see is foreclosed. Go straight to the bank and trade one real asset for another, because if silver is $1000 an oz paper will be worthless.
wildkubera 1 year ago
Precious metals preserve one's wealth. Whatever you can buy with it now you could buy with it post shtf. It's most likely that we'll trade bars and coins with each other, independent of any financial institution. People traded silver in the past for food and other goods and services.
envirosponsible 1 year ago
100 oz bars are hard to sell, so a coin shop may choose not to even buy it or may buy the bar for a lot more below spot than on small 1 oz bars & rounds.
SicaGR 1 year ago
@SicaGR
They can but if you are trading it for currency created out of debt they will most likely be able to by hedging against an exchange.
davincij15 1 year ago
Hey davincij15, great videos very informative.I have a couple questions if you don't mind.I have 40 american silver eagles right now and I am wondering as a cash strapped(semi-broke) silver investor would you recommend buying coins or bullion, or does it matter in your opinion.I will be up there in 5-10 years once I have to "bug out" from the US.
usernameted1 1 year ago
@usernameted1
The cheap stuff will make it harder for you to liquidate in the future, coins do not need to be essayed so they will be much easier to cash out or trade directly for goods.
davincij15 1 year ago
@davincij15 - Actually I disagree the cheap stuff is so much easier to sell than the high dollar stuff.
SicaGR 1 year ago
@SicaGR
Whatever... dude I go to coin shop with 10 oz gold bars and he has told me no problems. Also, any coin shop doing hedging will never have any problems buying gold or silver at any price.
Take, the time to learn that since the money is created out of debt and a buyer is locked in on an exchange there will always be a way to trade your silver and gold for paper notes.
davincij15 1 year ago
@SicaGR
I read you statement and I am reminded of how many people do not believe that money is created out of nothing when people go into debt. The actually believe that it can't be because it would be unfair for such a system to exist.
Even documentation of that fact does not convince them because it's to horrifying a truth to be true.
Most of the human race is screwed and I have to get away from those people because they will bring me down.
davincij15 1 year ago
can you please post a vid and say "what you talkin bout willis ". thanks for the info
rolficus 1 year ago
Why are you guys getting advice on gold and silver from Charles Barkley ??
ColdDish1 1 year ago
@ColdDish1
Charles is in charge! LOL
Hey man you don't have to buy gold and silver on my advice do your own research.
Saving in fiat money vs precious metals is like eating poisons vs food.
You don't have to agree reality will be our arbiter, and in the end reality will be our judge, jury and executioner.
davincij15 1 year ago
@davincij15 You really resemble Barkley.......You look like his more thin younger brother or something lol
anyway I enjoy the videos.........
ColdDish1 1 year ago
I think your thinking is flawed. The dollar hasn't been tied to silver for a looooong time. Nixon made sure we would never be tied to precious metals again and we were taken away from gold in the 50's. I could print dollars all day but it won't be worth as much tomorrow. We were taken off the standards so the government could manipulate the dollar... idiots.
rickrocker 1 year ago
@rickrocker
I'm not sure what you are talking about what logic statement is flawed specifically.
However I do not think you should bother responding since your not interested in teaching or learning by calling people "idiots".
davincij15 1 year ago
@davincij15 They were idiots to take us off the standard. If you don't believe it was a bad decision for the economy, perhaps you should look at the markets of the world. We have held ourselves up by a piece of paper. Borrowing on money that's not there. Watching this again, I think I misheard something you said and take it back, you're not flawed in your thinking. But my post on our politicians, like Nixon for example, being "idiots" stands.
rickrocker 1 year ago
@rickrocker
OK now I understand and I agree with you but don't call them idiots, they are not idiots, they are clever evil people who got away with evil deeds.
Now stop looking at them and dumb people and start looking at them for what they really are - Dangerous to the average person.
davincij15 1 year ago
@rickrocker I don't think they are clever evil people, I think they actually believe that what they did was better for us.
rickrocker 1 year ago
@rickrocker The US was taken of the Gold Standard from greed and thievery. In 1933 the US National Treasury was stolen and remains in the hands of THE ENEMY. Google HJR 192 and read it. The US has been in bankruptcy since then and the government has been under emergency powers since then. How do you think the President can take us into war without an Act of Congress? Presidential use of the Emergency Powers established in 1933 is the answer.
xmenrus 1 year ago
I'm very well aware of how much money is being printed. But how much are businesses and people going to actually carry on them?
When and if silver goes to $1000/oz, banks will shut down. Just try getting your payout then.
I don't mean to be rude, but this person isn't too bright. The logistics simply don't fly.
llmasterkll 1 year ago
@llmasterkll
That's like saying no one could get Zimbabwe notes when silver went to 20 trillion. You are being silly there will always be some form of paper crap.
And the world will not end.
davincij15 1 year ago
Ahaha that was a funny intro.
stealthbeast 1 year ago
It's generally better to buy silver in smaller increments such as 10 oz or 1 oz.
Kulawendin 1 year ago
@Kulawendin
Both are fine but if you see a future retirement in metals like I do then keep your bars small so you will be under the radar when cashing them in for the paper money of the day.
davincij15 1 year ago
I own 100oz bars myself, but i do not think that the price of silver will reach $1000 oz because I think the government will set price control. $1000 oz is just to unrealistic in my opinion. I think it will be more like $50-$100 oz to be more on the conservative side. I think people should own some small bar or coins for barter purposes. I don't care if Uncle Sam knows about my transactions because I will profit when the Shit hits the fan
johnyada 1 year ago
@johnyada
Its more of a blow off top value than a every day value like $20 is today.
You don't understand what's about to happen...
Search for
"Why Gold & Silver? The Bullion Movie - Mike Maloney (Trailer) "
Any data in that video you want me to provide official data I will! In that image they showed you picture of world wide gold supply in reference to a tense court well world wide silver is smaller than that.
davincij15 1 year ago
gold + silver works like this, gold is the true state of money, notes and coins throughout a country reflect what that countrys gold reserve is ( how much money there gold is worth say £1000 per oz ) so if a country had say 1000oz olf gold in its national reserve, that country would only be aloud to have 1 million worth of coin and note curency in circulation, thats how price goes up, the more a country has or less etc.
raver4lyfe16 1 year ago
@raver4lyfe16
That's now our the monetary system works. Money is created out of debt. Look it up.
Google "Money as debt"
davincij15 1 year ago
@raver4lyfe16
Maybe in your country raver, but in the USofA there hasn't been a gold standard since Ronald Reagan. The US dollar is just a piece of paper, backed by nothing!
captainherb1 1 year ago
I'm not really buying silver to profit, I'm buying silver instead of putting money in the bank. If you wanted to sell your 100 oz. bar in say 5 years at a huge profit, why can't you just melt it down to 1/2 oz. balls? Pick up an old round ball maker and make some 1/2oz or 1 oz balls?
yetibait01 1 year ago
i think we should keep silver and gold until any economic collaps or depression happens and trade with it.
RonPaulIsiah 1 year ago
Check out the function of the Federal Reserve Bank... and how they lend money (or set the prime rate) based on a percentage of the value of gold.
MIKE54U 1 year ago
Please reference the Federal Reserve history... and how they loan money based on a percentage of gold prices... that will explain alot to you.
MIKE54U 1 year ago
I can tell you are a Ron Paul guy... not just by what you are saying, but by the sign in the background!
iwineverysingletime 2 years ago
You have some good videos man. keep up the good work. I think your helping alot of people out. 5 stars
jeremyelliott1 2 years ago
I called a bank today and not just any bank i called jp morgan chase and they told me under no circumstances would they loan anyone no matter how good there credit was any money to buy gold silver or any other coin or bullion item because the price is to volatile you would have to put up land or a house if you want the loan but NO LOANS ON GOLD OR SILVER PERIOD!!!
lucky43113 2 years ago
You asked the wrong person because there is a way to start a business buying and selling gold.
Look I can walk into Royal bank of Canada as them for gold bars and they will actually try and charge me taxes on that even though there are no provincial sales taxes on any gold and silver bars.
Banks make mistakes.
One thing I know for sure they will not do is lend you money to buy gold. No way no how. BUT they will do it if you are buying and selling, it's called bridge loan.
davincij15 2 years ago
from Wikipedia Bridge loans are often used for commercial real estate purchases to quickly close on a property, retrieve real estate from foreclosure, or take advantage of a short-term opportunity in order to secure long term financing.
who will give you long term finance on gold or silver? also would you give me the phone number of the Royal bank of canada's so i can call them?
lucky43113 2 years ago
Remembers me about something we tried last year. A group of people (all nice dressed) walked into Deutsche Bank building Frankfurt and asked for a business loan cause they wanted to start a bank.
This was just after the first huge bailout.
We asked the guys working there if the risk management team can give us some detailed information about why this business is to risky to give us money.
Of couse we didn't get anything from them other then a free ride with the security to the frontdoor.
llothar68 2 years ago
my grandfather went to the bank said give me 50,000 to buy gold they said ok put up your house as well and he did it and then the price doubled and he sold it all.. so that was 50,000 profit..
haha48 2 years ago
Its worse than that. Just think how you will feel when you go into a coin shop to sell your silver and have it confiscated by G-men. Better find another market for your metal. What a thought, buying food on the black market with silver in the US. Sheesh.
snarbywrx 2 years ago
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If you are a SERIOUS business - minded person
that truly understands what is going on in the
world right now and wants to know a way to
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MLMGlobalization 2 years ago
sounds reasonable, thanks for clarifying
PAJAY11 2 years ago
im gonna take your word for it because im sure you know more about the topic than I, but sounds liek we should all open up bullion shops then if there is 0 risk involved...never heard of a business with 0 risk
PAJAY11 2 years ago
Your risk is having enough buyers in the market and keeping your premums high enough for profit and low enough for people to come and buy. Then there is the cost of seting up the system with the futures market since you will be dealing with small volumes you will be going through an intermediary.
Etc,etc, etc...
It's a lot of work as I considered selling silver and gold.
davincij15 2 years ago
First of all a coinshop doesnt HAVE to buy anything if silver got to $1,000/ounce which it never will because everyone would be selling by that time and nobody would be buying, but lets say for sake of arguement that it was at $1,000/ounce...its not like coinshops would be offering you $990/oz for your silver they know as well as everyone else its not staying there u might get offered like $200/oz
PAJAY11 2 years ago
It does not work that way.
The futures market is the market that allows the coin shop to buy the product at spot with out him being subjected to the risk of falling prices.
You see he sells a futures contract for 1000 and gets 1000 then uses that money to buy the silver for 990.
Then if silver drops to 200 he sells it for 220 and buys back his short contract at 200 and made $30 profit with no risk.
KNOWLEDGE my friend, is powerful thing.
Any more questions?
davincij15 2 years ago
DaVinci, need 2 make sure I understand.
Current spot = 1000 for Silver Bar
Bob offers Ed (dealer) 990 for silver bar. Ed gets short term contract from the Reserve for spot & buys the bar to net 10.
Before contract expires, spot drops to 200. Ed re-buys the contract by giving the Reserve the spot value of the bar (200) because the contract is 4 the bar's value, not a specific #.
Ted then sells the bar for 220 to Sue, to net 30 and effectively create 800 inflationary dollars out of thin air!
RomanEmpire74 2 years ago
Bob is the person buying the silver contract for $1000 to be delivered or settled on 3 months from now. Ed, the dealer sells that $1000 contract to Bob. Ed then takes that money and gives you 990 for the silver bar.
IF Ed does not find a buyer in 3 months he gives the bar to Bob.
If spot price drops to $200 and Sue buys the bar at $220 then Ed buys back his silver contract from Bob or someone else for $200.
Bob or the person Bob sold the contract to loses $800.
davincij15 2 years ago
just because a coin shop CAN buy silver at $1,000 an oz, why would it want to? You yourself davinci said in previous videos you dont trust the people to keep the price there, so why would a coin shop want it?
PAJAY11 2 years ago
@PAJAY11 The coin shop will buy below what they resell it at, especially with silver. Silver is an industrial metal, the reason it's value increases is due to demand. When you offload your merch you sell below spot. This allows the dealer to make a profit when they offload the merch. Dealers are called dealers for a reason. They know how to make a buck.
chade1983 2 years ago
Its true, the bank can just hand you a million bux made out of thin air for your precious gold bar which is very rare. Then you should take a step back and think... why am I giving my oz of gold away for some stupid paper???
Its only worth it because other people are so stupid as to accept your cash as payment for goods and services... once they refuse cash, you will see how quickly it does you no good
wendy2212 2 years ago
Guy, do us a favor and stop giving advice. There are a lot of novice and inexperienced silver investors watching these videos and you're already encouraging people to sell.
People have been asking how to buy silver, when to sell, and predicting the price increase for years now and yet, people are still buying.
I recommend you doing some research yourself before advising others on how to invest.
MsAmandaLea 2 years ago
I would advise that you do some research and actually watch my video before you comment.
I said nothing about selling right now, I was answering a common question.
davincij15 2 years ago
If you're selling when the average man comes up to you and says "hey, silver will double tomorrow", you're transferring his purchasing power to you. You're a hypocrite. After all you've said about how buying paper assets or whatever and trading it doesn't produce any wealth, we too can save wealth in those vehicles. You aren't producing any wealth either by saving in silver and letting the sucker buy it from you. Be consistent in your opinions.
chroNick546 2 years ago
Silver is a storage of wealth if someone over values it that's not my fault.
If it doubles because the supply of money doubles there was no transfer of wealth from them to me as I have maintained purchasing power.
The transfer or theft occurred when the wealthy banker who got the freshly printed money first spent it.
davincij15 2 years ago
you couldn't possibly be any more contradicting. Wheat is also a store of wealth. And so are equities. Equities have value because business have value. Thus ownership in business have value. You're so inconsistent, and you think by selling silver to a sucker when it's overvalued is somehow justified but other asset classes aren't.
chroNick546 2 years ago
Silver is the best form of money compared to wheat or stocks. Wheat can go bad, stocks are connected to the performance of the company and the number of shares they print, thus a stock is a higher risk than physical items.
Finally, all transactions can be looked at from your perspective, if you buy anything real you are giving the "sucker" a debt note while people are defaulting on the promise, the note represents.
davincij15 2 years ago
@davincij15 LOL! Do you read what you write before actually posting? You are contradicting yourself in so many ways. Stop giving advice, dude.
MsAmandaLea 2 years ago
@davincij15, No use arguing with people...Just remind people that tangible assets will carry you through hardships, no matter the cause of the hardship.
chade1983 2 years ago
Hold onto your gold and silver until the U.S. and other world Fiat Currencies have been reset to thier proper value. Then the metals will have reached thier full value.
justaoldslave 2 years ago
I would put more faith in gold and silver than I would the stock market. Gold and silver and other precious metals will always be worth something especially when the dollar crashes. Hold on to your gold and silver. If anything, keep buying more of it! DO NOT SELL! You are not going to get near what the gold or silver is worth. I only wish I had invested all my money in gold or silver years ago instead of the stock market. You live and you learn. I will only invest in tangible items from now on.
tudierudielovesJesus 2 years ago 8
lol, not sure if that's smart. There will be a day when tangible items go down, and the stock goes up. Furthermore if you bought indecies, you would never lose all of your money. If you bought the Dow in 1982, you'd have 13 times more money in nominals terms. If you bought gold back then, you wouldn't even double your money. I'm not advocating equities now, but I'm just saying you have to play the cycle. It would be foolish to never buy intangible assets.
chroNick546 2 years ago
I'm not saying you have to do it...I am just saying this IS what I am doing. If the dollar were still backed by something I might be a little more brave with it but since it's not worth the paper it's printed on, I'm not! The stock market is a gamble. Just think about how badly the economy has been for the past year & a half yet the market is still going up. Employment rates up in 43 states last month, companies still laying off people left and right...stock market still going up? Not my gamble.
tudierudielovesJesus 2 years ago
Not True the Dow is just keeping pace with inflation, 1982 dollars are not the same as todays dollars. Bread then was around .80cents a loaf now it is doubled. Milk then was around 1.02 now 3 or 4 times that. So the value and the price are 2 different things. Put your money in PM, gold and silver. Silver in 82 was 4.78 and last years high was 21.178. Don't know about you but that's 443%. I do believe that the Dow is good to but not the only game in town.
branman055 2 years ago
It's been my experience that coin shops/metal dealers will not pay what the days spot price happens to be. They want to pay less so they can reap an immidiate profit.
FarmerFred6969 2 years ago
Yes, coin shops are very bad they try on people but if you push back and speak with knowledge of the system they back down and give you spot price at the very least.
davincij15 2 years ago
It always seems I can never buy anything from them at spot price either,they want 10-20% more for this bar or that. I have been dabbeling in this for years. Seems when I go to buy or sell I'M never buying or selling at spot. Any advice is appreciated.
FarmerFred6969 2 years ago
So you sell your silver and what do they pay you in? Paper money that is inflated to the point of being worthless. Hang onto your precious metals,someday you'll need to trade them for commodities you might need to survive.
FarmerFred6969 2 years ago 13
so it does work.
FridaySternShow 2 years ago
silver will NEVER be 1000 per oz not even once the dollar crashes.... you'll never see 1k oz silver in our lifetime. i wish it would be 1k an oz, but it aint gonna happen.
haychex 2 years ago
1. Silver is more rare than gold today as there is only 1 billion oz above ground and 5 billion oz of gold.
2. 100 trillion in unfunded liabilities
3. 700 trillion in toxic derivatives.
4. 4 trillion is planned to give to the banks in the health care bill. (this means they will print print print)
5. People will wake up to the absolute fact that the government will print its way out of this.
So where is your facts proving silver will not be 1k?
davincij15 2 years ago
davinchij15, you know through all this talk we had, you never answered my initial question. You brought up your thoughts on how the dollar is devaluing, even though I differ from the way you see it. I think the reason the dollar is decreasing is because China is expanding credit and causing their currency to devalue and b/c the US$ is pegged to the Yuan, the $ gets devalued with it. But you never answered WHY not HOW but WHY would they(whoever they are) devalue the $ to Zimbabwe levels?
Numonic7 2 years ago
If enough countries stop using the dollar as their reserve currency the game is over.
That's what it will take. Why?
Because their is no capital inside the USA it's all outside and thus the need to print it and give it to the banksters.
Thus everyone outside of the us holding dollars and trading it amongst themselves are seeing the value of real goods go up in price as the get more freshly printed dollars from the USA that has nothing to sell except debt.
davincij15 2 years ago
@davincij15 Okay so basically the world will get tired of having a hard time finding products with the label "Made In the USA" and in retaliation they will stop exporting to the USA unless the US can give them something besides US dollars that is made in the USA. But credit is a tool of consumption. So when ever a nation grows through credit, it will be consuming more than producing. So every nation is headed down the same path since they all grow through credit expansion.
Numonic7 2 years ago
That's right every nation that exploded from the Rome to now has expanded credit via debasement of the money.
davincij15 2 years ago
@davincij15 China even has slave labor. And to tell the truth, i don't think a world with a credit system would exist without slave labor because who in their right mind would choose to work if they could just come over to a nation where people get things for free(via credit). That's why China has slave labor, b/c people have to be forced to work when there are parts of the world giving away things for free. Credit encourages govt.s to create slave labor.
Numonic7 2 years ago
China does not have slave labor it's labor force works for $10 a day because there is nothing else except farming for even less.
If you don't want to work you don't have to but good luck surviving.
davincij15 2 years ago
@davincij15 Well that whole slave labor thing in China is a mixed up issue. But as far as the working comment, I think you misunderstood me. No one works just for the sake of working. Check out inflationus' latest video about working for free. People work to get paid. And all I saying is that if there is a choice between working to get paid and NOT working to get paid, people will choose to not work and that is what credit provides. Credit is payment for work not done.
Numonic7 2 years ago
"Credit is payment for work not done. "
That statement is true and false at the same time. Thus I am having a difficult time following you as words such as "credit" have triple meanings.
"Credit" - can mean a positive balance to one person, an ability to go into debt for another, or to an accountant - a subtraction from a balance sheet.
When I discuss something I look at from the basic understanding.
I work for a perceived tangible item.
Defining what I actually got for my work is complex.
davincij15 2 years ago
@davincij15 actually to an accountant, credit is an ADDITION to a balance sheet. DEBIT is a subtraction from a balance sheet. But in all definitions, credit is payment for work not done. Plus in a ponzi scheme system where you can pay off debts with borrowed money, you are essentially getting money for free. And we have been paying off debts with borrowed money since the banking system began.
Numonic7 2 years ago