Monday, June 11, 2012

My Silver Secret

The Moneychanger

90% Silver Coins - $500 Face Value Bag

Most every silver dealer believes that lying around somewhere out there exists an endless supply of US 90% silver coin. Hogwash. Coin has been melted since the late 1960s, & the supply is NOT infinite. Yet because it is more profitable for dealers to sell the silver American Eagles & similar coins, they sneer at 90%. However, we have watched in the last month as the more 90% we tried to buy, the higher the premium climbed, from about negative 85 cents to about melt today (buy side wholesale premium). Some wholesalers have temporarily stopped selling 90%, because they're afraid they can't cover it.

Y'all watch. One day not too far away, 90% silver coin will begin carrying a premium as folks discover that the coin they spurned is in short supply. But what do I know? I'm just a natural born fool from Tennessee & don't even look up to congress.

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