Predictions for gold and silver prices?

Will it ?

Our parents and grandparents hoarded silver coins especially after the government ceased using silver. But that was over 50 years ago. My grandparents and parents/uncles/relatives all had silver coins in some quantities (100-1,000). But today the Family Elders don't have them for the most part. 2 estates I worked on had $35,000 and $5,000 in coins but they're the exception.

Folks on coins sites like this buy junk silver, silver bars, silver coins, etc. Not as sure about the public today as much as in the 1970's when alot more people were really shocked by the changes of the 1970's which were wrenching, unprecedented, and somewhat incredible.

If you doubt me....ask anybody under the age of 40 if they ever waited an hour at a gas station to buy gas....or if they lived through inflation years which AVERAGED 8%....or anchovie or meat prices doubling in a few months and then doing it again. They'll look at you like you were from Mars or the 1880's.

I think there are more inheritances with some silver coins to come out, but I don't think it's on the volume of the 1970's. Maybe a few people who wanted to go cheap relative to Blanchard gold coins in the 1980's and 1990's did the silver alternative but most people were learning about the stock and bond markets.

I would be interested if you Junk Silver Experts might quantify exactly how much silver coinage was used by the United States from 1850 or whenever it started ($1, 50 cent, 25 cent, 10 cent, 5 cent) through 1964....how much they figure was melted/destroyed....and how much might be out there in circulation and/or in collections/hoards.

I have no idea of the numbers and what the resulting silver content means relative to the current volume or annual supply.

 

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Someone here has posted Mint reports showing the amount of silver (and I think gold) coinage returned to the Mint each year for re-melting. Distilling all that data would be a pretty big undertaking, and I don't even know if it covers the 1960s. (The reports I saw were from the late 19th century, I think?)

And, of course, there are no official accounts for the great melting that happened circa 1980, or during subsequent spikes. I'd like to think that most of the actual coinage was kept in its original, easily-authenticated-and-counted form, but I'm sure a lot has been recycled.

 

Speculation makes things interesting. If we all had a magic eight ball, we could all be rich. But more likely? We'd all be poor.

 

Quantifying melted/destroyed would be fruitless. As an example coin silver spoons were just that - coin silver. I can weigh one of my coin silver teaspoons and that figure jives with that of a 1800s half dollar.

 

I should have added the caveat, "whatevers left out there." Many people started bailing in the high 30s thinking that was the top and they were getting out this time.
I'd imagine there's not a lot left out there per 100k people. There are youtube videos about it. Just saw a video that said if you own over 132 oz of silver you're in the top 5%. 95% of people holding any silver in the world only have around 4 to 5 oz worth. The top 20% of stackers have 41 to 54 oz. Top 5% 132 oz to 176 oz. Top 1% was 406 to 541 oz or more.

I'm glad I had some urgency over the past 5 years. Stacking just got a lot more expensive. Some of the crazy premiums two years ago that I'm sure many people scoffed at have been completely washed away. Apmex wants $10 OVER current spot on most physical now. $76 for a one oz bar is rough.

 

Can they get that ?

I would think that retail sellers would be happy with the official silver price (assuming they bought lower) and the increase + vig/commission they get at today's silver price.

We didn't see these premiums when silver was in the tank....did we see them back in 2011-12 when silver hit $50 ?

 

If the figures you quoted are correct than I’m in the top 1%. I’m holding and bars and rounds are all I’m including in my figures.

 

Wow, just made it.....about 136 ounces last I checked a year or so ago. Will re-check by year-end.

 

I'm out little guy here, coulda, shoulda, woulda!

 

Multiply those ounce figures by about 1.4 to get an equivalent face-value figure (i.e. 100 troy ounces = about $140 face value of dimes/quarters/halves). Multiply by 1.3 for a number of silver dollars (Morgan/Peace). Conversion for ASEs, rounds and bars is left as an exercise for the reader.

 

At the last local show (which of course corresponded with a dip in silver), I think melt was about 36x FV. I had one guy offer me 30x FV, and said he could go 32x if I had at least $1000 face value to sell. I'm guessing he would've flipped it directly to one of the big online dealers the next business day. I refrained from telling him that if I wanted to sell that much silver, I'd go directly to the big online dealers.

 

You guys are smart. I respect all of your opinions and believe some of them.

That said, this video is obviously AI. But could it be based on factual events that took place yesterday, in Mexico? Is the interpretation of the events accurate?

The craziest thing about it, we should know before the end of business TODAY if there is any truth to the claims made. And, if true, we might have made a nice pile of profit, if you cash out.

 

Interesting video....but I question the conclusion, though not the underlying facts except in degree. I'll explain.

Samsung has alternatives to silver. And executives do not go around flying to a mine.....the supply is relatively inelastic, especially Mexican mines, who are among the WORST capital allocators around, i.e., PEMEX. Whether you call them or show up at the mine entrance, they can't mine more for 6-18 months.

There's an element of truth in all the points made...but I believe they overestimate the impact and there are assumptions made we don't know if true.

I see silver up <3% in Shanghai and <3% in overnight U.S. Nice move up, but no dislocation gap up.

 

Silver us back up to $63 plus and it’s still going up.

 

I've read that JPM bought back covering their shorts and have gone long 750 million ounces. BOA could be in real trouble. The video is mostly fantasy. What was said did not happen today.

 

Is that for all forms of silver (jewelry, flatware, coins, bars, etc.)?

 

Those banks are NOT going long or short silver. They'd get ROASTED by the regulators.

The reports on JPM are ambiguous and not factual. The stuff on BOA is total speculation.

99% of their trades are for customer accounts, not their bank's capital position. Too many of these Silver Conspiracists don't know how to read a balance sheet.

 

Now I’m a 1 per center. That was a easy

I’m down to about 250 oz