The U.S. Mint just reported another record, but this time it wasn't for gold. The Mint sold more Silver Eagles in March and in the first quarter of the year than ever before. A total of 9,023,500 American Silver Eagles were purchased in Q110, the highest amount since the coin debuted in 1986.
While this is certainly bullish, there's something potentially more potent developing in the background. Namely, how this matches up with U.S. silver production. Like gold, the U.S. Mint only manufactures Eagles from domestic production. And U.S. mine production for silver is about 40 million ounces. In other words, we just reached the point where virtually all U.S. silver production is going toward the manufacturing of Silver Eagles.
Yikes.
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Silver is good stuff. It has anti microbial properties. In the OLD DAYS, people used SILVER ware because it has health giving properties.
ReplyDeletePersonally, I can't stand the stuff due to my rampant Lycanthropy, but you tasty sheep certainly ought to use real silverware to be plump and healthy.
LOL, more propaganda for the gullible masses,,er...sheeple.
ReplyDeleteSilver for what? A loaf of bread? LMAO how many times I have heard "my silver dimes will buy bread and milk" HAHAHA
I can see it already
"Hello Mr Grocer, I would like a loaf of bread and a gallon of milk for these two silver dimes I have hear in my hand"
Grocer says "What the fuck are you trying to screw me with those two dimes? I don't care if they are silver or even gold, they are still worth 10 cents, now get out of my store!"
To all the "precious metals" buyers, all I can say is FISHED IN
Did you know that silver was $48.70 an ounce in 1980; and the price today remains under $18.50 an ounce. The dollar is worth half of what it was worth in 1980, so you are paying $9.00 an ounce in 1980 dollars.
ReplyDeleteSilver is scarce and it is cheap. scrape your change together and go down to the local coin shop and buy a few pre-1965 US silver coins in average grade. Do this every week.
Say you invested $50 per week for 1 year = $2600. Now say the same thong happens to silver as happened in 1980. Your $2500 will become $14000.
2:19 I am sure he would honor your paper when it inflates to worthlessness. Silver has been good for 5000 years as a form of barter...but I know...this time it's different
ReplyDelete2:19 is poor and stupid... I'm sorry "ignorant". It goes by weight not face value moron. Have you ever heard of melt value? Thats what your silver dimes are worth each...probably about about $1.30 today.
ReplyDelete2:19 you forgot the fact when every Tom Dick And Harry are begging for SILVER because of its value they will exchange their kids for it. Sort of like an XBOX when it first came out and the dumb IPAD today. Some people are plain jane IGNORANT and STUPID for LIFE.
ReplyDeleteThese people like 2:19 are just incredible
ReplyDeleteThey just won't learn the basics: Silver is valuable because it's scarce; hard to obtain
and used in a wide variety of industrial applications.
Now then; compare that to a piece of Paper
Well; you have the nice scenery & the beautiful
printing job on special paper with all those pretty colors of white , green red and black
Cost to manufacture ? Oh about 1/3 of a CENT
Oh yeah - I'll take the paper !
Gotta go now - is Tiger winning?
Obviously more and more people are starting to wonder about the US Dollar and their IRA/Pension/etc... and buying Silver and I would guess this is going to continue. More and more people I know are looking at Silver. They are sensing the Dollar may tank or be devalued by 30%-60%.
ReplyDeleteBottom line Silver will probably be good investment over the next 5 years and the US Dollar might not be.
to 3:18 I call bullshit, nothing scarce about silver, it's mined every day of the week, nothing scarce about that now is there?
ReplyDelete2:59 is hilarious, he thinks every Harry Dick and Tom will be begging for silver; so just how will they be paying for silver? yeah, I forgot they will be trading baked goods and sex, LOL. Dream on dreamer.
3:18 needs to put down the crack pipe as he fancies the lie that silver is scarce
I have been buying silver for 5+ years. It is and has been so obviously undervalued my dog bought some.
ReplyDeletePlease keep saving your money (debt notes) at your bank, this helps keep the price down, as the sheeple have NO clue.
How did Tiger do today?
Ya have fun with you Federal Reserve Note denominated welfare check. Sucks to be a slave to the state. The wealthy are cashing in their cash for silver not because its scarce but because its mobile. In other words, the old dogs are shaking off the parasitic fleas (you) so we can prosper. Any American thats worth anything will be hauling ass out of here. Dont let the losers drag you down to their pathetic existence level. They will beat the shit out of you with experience.
ReplyDeletei put 50 k in gold and silver
ReplyDeletei use to own corvettes not becasue they where fast they were vintage
but its easier to trade silver buffalos than
a 1960s vette
gold and silver is money daaaaaaa
also please dont buy it your right its just dirt
and metal
and gives me more time to buy at dirt cheap prices
i paid off my house and have food
i just want more money to buryie all the neyy sayers when im really rich bich
If the f-bomb user invests like his potty mouth, you can be sure he will be wiping his behind with FRNs wondering why a sheet of Toilet Paper is worth more.
ReplyDelete3:56 I call you asshole - grab your self a cup of shut the fuck up and listen to someone who knows you fucking lame brain ijit.
ReplyDeleteSilver is not like fucking coal - you don't just blunder onto an outcropping and grab your shovel
& start mining ore.
It is an earth moving, expensive , intense operation and usually a byproduct of other mining ( copper, etc. ) then it has to be extracted from the ore ( another, time consuming, expensive operation )
All this to say - it takes a certain amount of
technology and labor to extract all of which costs lots of $$$$
If you weren't such an ignorant ass I would give you some amazing stat's on silver - but seeing's how your such a little overweight gnome living on papas pension; I will not give you the satisfaction - please do not buy silver, gold, platnium - they are as worthless as you are
Dear Blog Mediator: Please remove the immature "potty mouth" replies. This is a forum for adults.
ReplyDeleteThank you.
Guys, Guys, Guys, Its not how much PM's will be worth its the fact that they will still be worth something when papaer is worthless.
ReplyDeleteI have converted 75% of my life savings into silver (physically held) over the last five years. I sleep VERY WELL.
ReplyDeleteWhether or not silver , a product of nature ,that has no value until mined and refined so
ReplyDeletethat it has a use value in industry, is scarce or not, its exchange value with other commodities
is determined and will be determined solely by the socially necessary labour time necessary for its production . Not by its shine.
It is a form of valiue. Commodity /money .
Silver and gold in easily divided storable weights can circulate and act as a measure and
standard of value faciltating easy exchange
with other commodities that are also valued in comparison according to their labour created value. Including the cost of the human labour created machinery and by using the best technological and knowledge available to the makers of the other commodities.
Things have both a use value and exchange value
with the exchange value determined in exchange
by the ammount of past socialy valued labour time embodied as value in the commodity.
5:05 must be on the rag again, go grab some Midol PMS and prepared to be schooled.
ReplyDeleteI have forgot more about pm's then you will ever know, and you are just another sucker; one born every minute and it must be your minute.
Yes, silver is a by product, not in the sense you want to "buy" it becuase it will never be worth much more than todays price reflects.
There is more silver than we can all shake a stick at, and even if that were not true the elite would be sure that it did not rise too much as they hate competition.
3:49. Go back to school or go to bed. When I say go to bed, I mean jump out the highest window you can find. If and when silver becomes mainstream money (again), all you will be holding in your hand is your tiny little prick and a half empty tube of KY jelly.
ReplyDelete2:19 (Two Dimes)..........
ReplyDeleteYou are the summation of what The American Idiot is all about.
Amazing !!!
In 1964 ten dimes ($1.00) would buy you about FOUR gallons of gas. Today the same ten 1964 (silver) dimes would buy you the same four gallons of gas. Since silver dimes are worth $1.30-$1.40 each.
ReplyDeleteHow much will your paper dollar printed in 1963 buy? Less than 1/2 gallon.
If your not sure what to do here is my advice. Buy some silver and gold jewerly that you like like just gold and silver rings. And if prices go one way or the other you'll still have something you can enjoy or use. Nothing really lost than. Make sure you have food stocked up etc.. just have a little bit of anything you can live or barter on.
ReplyDeletehi ho silver take it to the bank
ReplyDeleteThank you, 2:19. I will not be buying silver. I was about to, but when I saw the reaction to your post, I realize that it's being scammed, like everything else.
ReplyDeleteI can't believe anyone badmouthing buying silver could possibly be sincere. I heard there are 300+ people in Tel Aviv behind computers to go out on the net and push forth good posts about the bankers and their desires. Maybe it is that, who knows. Just no one could be dumb enough to defend fiat currency vs real money.
ReplyDelete