flower-shilling

Silver optimism

Smithys Bullion - FINE GOLD AND SILVER
What I found most interesting about this talk is the mine production dropping in Mexico. Many years ago on the other forum, I stated that 4 of the 7 largest mines in Mexico were set to deplete their reserves between 2024-2028, and subsequently be knocked off the top of the largest global producer list. It appears we're seeing signs of this happening now...

 
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^^^ A big world recession is building. Banks closing ATM'S at a record rate to stop bank runs, USA banking system in crisis, major countries ditching the USD in trade and Europe in tatters from stupidity kissing the slippers of their American masters. I like the future of silver :)
 
Industrial demand has increased significantly, so an increase in Bullion demand isn't required. We're seeing more contacts stand for delivery, and delays in delivery from repositories are becoming greater and more frequent.
dragafem said:
Does that really matter at this stage? So many lost interest and sentiment towards metal.$50 silver would scare away the last of the hesitant buyers.
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I think less than 1% of the population would've considered silver as an investment, let alone have Bullion in their possession. It would take very little to replace the entire Bullion market in terms of dollar$ and participants. A rising market benefits the most when newcomers enter the scene, and there's no shortage of options when silver finally makes some noise and draws attention. $50 silver would definitely draw attention. New participants would see $50 as their "fair valued" base price.

I dunno... All I see is the exact reason I got into PM's in the first place unfolding before my very eyes. The perfect storm is brewing and it's going to be such a rough ride that the dollar performance of our metals should be the least of our concerns. We're entering the 'beginning of the end' for this monetary paradigm, and anything intangible with any degree of counter-party risk will be sucked in and disappear into the ether like a financial factory reset.
 
STKR said:
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I think less than 1% of the population would've considered silver as an investment, ...
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There is still a fairly large #silversqueeze contingent on social media (X, reddit). With respect to America, I'd say the % is likely around 1-2%, but that's just a number pulled from the arse.
 
Bix has really stepped up his game with his analysis lately. There's a lot going on with silver right now and I think we've entered the era of the 'Silver Struggle'. Deficit! deficit! deficit! As far as the eye can see! Silver hasn't been this needed since the days it was in our coinage.

It's a fitting time to post the remarks of president Johnson when signing the coinage act in 1965:

"Now, all of you know these changes are necessary for a very simple reason--silver is a scarce material. Our uses of silver are growing as our population and our economy grows. The hard fact is that silver consumption is now more than double new silver production each year. So, in the face of this worldwide shortage of silver, and our rapidly growing need for coins, the only really prudent course was to reduce our dependence upon silver for making our coins."
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Silver is a scarce material. It's like the world has forgotten how scarce it really is, and how dependant on it we really are.

For those of us who don't believe the market is manipulated, he also said this:

"Since the life of a silver coin is about 25 years, we expect our traditional silver coins to be with us in large numbers for a long, long time.

If anybody has any idea of hoarding our silver coins, let me say this. Treasury has a lot of silver on hand, and it can be, and it will be used to keep the price of silver in line with its value in our present silver coin. There will be no profit in holding them out of circulation for the value of their silver content."
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Then along came 1979-80 🤔

I don't think the treasury has any silver left in 2024. I think what was left of it was sent to the 'custodians' to act on behalf of their clients (government) to "manage" the POS. The Comex and SLV being the largest declared repositories of aboveground reserves. I think this is where the last of it has gone - To be put to work.

But that's the thing about finite resources... They're finite! 800 Mozs between the Comex and SLV is nothing. Without large stockpiles to replenish these reserves, the value of silver will inevitably increase across the board.

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dragafem said:
Does that really matter at this stage? So many lost interest and sentiment towards metal.$50 silver would scare away the last of the hesitant buyers.
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Dragfem, for many years we've seen people talk of the ups and downs of silver but rarely do we here about the huge gains in bullion coins.
Bullion silver coins continue to do well.
last time I checked, the Lunar Mouse and Ox were doing pretty good and when no one wanted the first of the Perth Mint silver Swans, they too are doing well, to name just a few. (sorry for cherry picking but I'm busy these days) :)

By the way, we may have a new surge of interest in silver, gold and platinum; if you haven't heard of Q* and the potential of AGI, your not alone but we may see the dumping of Crypto's and tech stocks in the not too distant future.
Imo, now is a good time to have metal and cash.

Cheers
 
Oh shit, a nice little bump up for the metal of gentlemen. A push above, re-test and move ahead of $26 USD is going to be exciting. I've been waiting for this moment for a while and will celebrate with a juicy silver giveaway/competition.

Watch this space!
 
Some have been saying the Aussie dollar might hit 70 during 2024, obviously if the rally in precious metals continue, even if the AUD does rise against the USD those Aussies that have metal especially silver may do ok.
For new folk buying silver, be aware, that if you buy low premium bars, you'll be tied to the spot price of silver, but if you buy bullion coins, which have a higher dealer mark-up you have the potential to buy a coin / coins that have a higher "numismatic" value in the weeks, months or years following your purchase; having said that, some of the bullion coins don't do so well but in a bull-run (prices rallying higher) you'll do pretty good if the rally is substantial.
Always remember to factor in the total price of the silver you buy, including postage, storage and selling on auction sites.
My tip would be to consider bullion coins that have a limited mintage or if you were lucky enough to buy unlimited mintage bullion coins in bulk when silver was much cheaper, example March 2020.
Lastly, plan your silver investment because one day the AUD may be well above the USD as it was in 2011, reaching $1.10+ July 2011.
A low Aussie dollar means it's more expensive to buy precious metal and if you sell precious metal when the AUD USD exchange rate is higher you'll get less for you metal. The objective is to buy metal when the AUD is on par or higher than the USD and sell it when the AUD is lower.
Hence, sometimes it's good to have bullion coins with a low mintage that gain numismatic value; you can off-set a rising USD against the AUD but not so much with generic silver bars.
 
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