Could You SELL Your Silver if it went to $50 or Higher?!?

who's going to buy your silver if it hits $50 an ounce or even higher has some people predicted that it's going to do that is a very good question it's a question that I get asked all the time especially recently with silver recently spiking to over $25 an ounce granted $25 an ounce isn't anywhere close to the all-time high in fact back in 2011 it hit almost $50 an ounce and we're not even going to talk about 1980 because people like to bring up 19 80 as well and I think any of you that watch my channel know my feelings on the 1980 silver price but it really is it really is a valid question is it not I mean if silver hits $50 an ounce and you have a lot of people that want to dump their silver especially those that bought a lot of silver back in 2011 who's going to buy it from them in many of those comments people will elaborate by saying coin shops are already running out of money with the lower Demand on Silver and my argument to that and granted keep in mind I don't know you know the inner workings of every single coin shop on Earth but I do know personally a lot of coin dealers I've had many of them on this channel in the past and none of them seem to be running out of money the reason for that is that a lot of coin dealers work directly with Wholesale Distributors and even private mints who are more than happy to buy silver from them now the issue with selling it to a wholesaler or selling it to a private mint like this silver right here is that when you do that you have to sell it pretty cheap you have to get back of spot for most of your silver when you sell it to those private mins especially generic silver Like These Bars right here you are not going to get even spot a coin shop is not going to get spot if they have to wholesale their silver out to a wholesaler or a private mint because the mint needs to then make money on it themselves and they are certainly not going to buy it very strong if they have a lot of coin shops that are selling it to them so the question that I get asked in those comments is a very legitimate one if we do have a ton of people selling all of their silver at once are the wholesalers and even the private mints even going to be able to absorb it all so what I thought I'd do in today's video is kind of Deep dive into that topic and also ask you for your opinion so do me a favor and leave a comment down below and let me know if you think it's going to be easy or hard to sell silver if it were to hit 50 an ounce once again I'll also share with you some of what I remember from 2011 and some of the stories I've heard from dealers over the years about what happened in 1980 so we'll get into all of that but really quick before we do I want to show this to you this is the 20124 1 o Silver unaa and lion bar from the Royal Mint these are beautiful 1 o Silver collectible bars that right now is an SD bullion exclusive here in the US and for the first week STD bullion is offering these for just $3.9 9 overs spot which is definitely higher than you would pay for a 1 o generic round today but if you're into beautiful collectible silver like this that's actually a pretty good deal make sure you check it out today by going to sdbullion.com and I'll put a link in the description below so keep in mind everything I tell you here is based off of my experiences back in 2011 2012 but the 1980 stuff I wasn't even born yet so 1980 I've talked to some dealers not just at coin shows but I've even had a dealer as I guessed on his channel before where that was brought up and it wasn't really that we were talking about what happened with the Hunts Brothers and the market and silver going to $50 an ounce which by the way adjusted for inflation today is like $200 an ounce it wasn't nothing to do with that at all it was about what happened to the people that wanted to sell their silver and one thing I'll tell you based on what they've told me keep in mind this is all secondhand knowledge but based on what they've told me of what happened in 1980 is no one really had trouble selling now that's not to say they were getting full spot for their silver by the way you should subscribe I appreciate it that's not to say they were getting full spot for their silver right it's to say that they were able to sell it so what was happening back then is that you know they the coin shops that were around the people that were buying silver back then there were lines out of the doors like literally is you know how it was described to me is every single morning they would open up shop there would be a line waiting there would be people waiting in line for them to just to come in and they would be bringing old 90% silver dimes quarters and half dollars people would be bringing in candlesticks in sterling silverware and dishes and you know you know whatever they had that was made teapots even I heard teapots be specifically named once whatever they had that was silver was being just hauled in you know people that collected all their change over the years I mean imagine if someone had like a five gallon bucket of silver of 90 I mean well we won't say 90% because this was 1980 so at that point it' been 16 years since they stopped producing 90% silver but I I can I bet and I wasn't around for them but I bet that there was still a lot of 90% silver still being found in circulation and change because even today every once in a blue moon you'll find a silver quarter in a roll or a silver dime in a till if you work I've had people tell me that they work a Qui quick trip and every once in a while they'll get that stuff come in so I can imagine that in 1980 it was a lot more common so imagine all the people with these 5 gallon buckets of silver just bringing it in by the droves of finding all the silver that they had had laying around old silver jewelry all of that remember in 1980 the silver price went going to $50 an hour ounce that was equivalent to $200 an ounce adjusted for inflation today and I think you and me both know that it was probably even more than that that's just the official CPI inflation numbers even with all those people bringing in the silverware bringing in the 90% bringing in the old jewelry whatever silver they had laying around which by the way I think any of us if silver hit $200 an ounce today I would probably cash out a lot of my silver that is assuming by the way and I know people are going to comment that is assuming that it hit $200 through normal trade not because our dollar completely collapsed I'm just saying like let's say that tomorrow the dollar is worth what it's today and you can still go to the gas station and get the same amount of gas and you know you can still go to the grocery store and get roughly the same amount of groceries but silver magically goes from 25 where it is right now to $200 an ounce I would be selling a lot of my silver too and I think the majority of you watching this would and maybe not all of it I probably wouldn't sell it all but I'd sell at least half of it I mean I'm just being honest with you like I'm not going to sit here and say oh my God I love silver so much I would never sell an ounce of it no I just flat out just being honest with you if it hit $200 an ounce tomorrow I would sell a lot of my silver I'd still probably keep some because you never know why it hit $200 right you never know why it actually hit there maybe everything looks good right now but in secret everyone realizes that the manipulation must stop and the dollar is eventually going into collapse and that's why everyone's moving in the silver and gold but I would still sell some of it all right I I really would I I just I'm just being honest and I think a lot of you would as well and that's what was happening in 1980 and so you had lines out the doors of all these coin shops and they were still buying it now the reason they were buying it I mentioned it at the intro of this video the reason that those coin shops were were still buying the silver is because they were sending it off to Big refineries big mints and I'll say one specifically and the reason I know about this is because I read articles on it there was even an article on PCGS that specifically mentioned I believe it was on PCGS maybe I'm wrong but specifically mentioned Silvertown uh and I'm no no shade to Silvertown they're still around today uh in fact this subscribe bar is a silver Tom bar I just label I laser engraved subscribe on it but um they're still around today but were taking all of that 90% even like better dates I can't imagine what better dates got melted Morgan silver dollars and P silver dollars and dimes and quarters and half dollars who knows if like any n like 1916 D mercuries were in there if you guys don't know what that is it's a Kate Mercury dime worth a lot of money imagine all those that got melted down because the silver was so valuable that it would actually cost them money to pay somebody to spend the time to go through it all and and again this is what I was told this is based on the articles I've read this is based on the conversation with coin dealers I wasn't there but based on what I was told it was actually so it was such a better idea for them just to melt it and get it refined and get it turned into big key uh like thousand ounce bars and they were shipping it overseas to you know to bullion buyers overseas that were you know buying in on the silver craze or whatever I don't know but I guess my point is is that if silver were to really get and do something like that again there's a reason forward happening now I understand completely that silver is manipulated on the comx and a lot of your silver prices based on paper trading I talk about that all the time but for silver to really get the $200 an ounce there's got to be a lot of people excited about it and I can imagine that in that situation you would have a lot of people gobbling up physical silver so just like back then I can see where you would still have wholesalers buying it because they can then deal with the private mints or the refineries that they deal with and so there's a pipeline right there's going to be a pipeline of you know it's going to go from you to the coin shop to possibly the wholesaler where maybe that coin shop Works directly with the private Mint or maybe the private mens are putting the word out say hey cut out the the third middleman and just you know sell it directly to us but it's going to go from the coin shop let's just say it has to go through a wholesaler it's going to go from the coin shop to the wholesaler to the private mint who's then going to refine it and so what was happening back then is you know I don't know if it was going to wholesalers or directly to Silver toown and other private Ms back then but silver toown wasn't paying spot for it they weren't even paying anywhere close and so the shops knowing that the demand for people to sell was there they were certainly going to take advantage and not buy it for spot price either right and especially since they wouldn't be able to sell it for spot price so from what I understand I heard ranges but from what I understand people were walking into the shop let's say they walked in with a 10 O Bar I'm not saying that's what they had but let's just say they walked in with a 10 O Bar silver was trading for 50 they might get $35 uh an ounce so 350 bucks maybe you know know 400 to 425 would be like the highest end of it based on what I've heard so no they weren't getting $50 an oun for their physical silver but I don't think they cared $40 an ounce back then that's 160 today 35 that's 140 today that's still a lot of money and I think that a lot of people even if they were put into that situation even if we woke up tomorrow even if we woke up tomorrow and silver was $200 an ounce but your local coin shop was only willing to pay you 140 I would put money that many people would still sell now of course there was another example more recently of silver hitting almost $50 an ounce and we're going to go back to 2011 and talk about that right so in 2011 2012 we had silver run up once again to almost $50 an ounce the difference between 1980 and 2011 is that I was around for what happened in 2011 and $50 adjusted for inflation in 2011 is well much higher than it was in 2011 $50 would be um it it's certainly not as high as it would have been in 1980 whereas I've already said was like you know $200 an ounce adjusted for inflation today but it was still quite High the difference also between what I've heard about 1980 and what I saw in 2011 because I was actually around for 2011 was that in 2011 there were still a lot of people buying silver from the coin shops as well in fact if I recall the premium on Silver Eagles was actually a little bit above the norm back then in fact the pr premium was going up for your silver eagles and possibly for your silver rounds as well I don't recall exactly feel free to leave a comment down below but what I do remember is that coin shops were busy and they had no trouble selling silver and they had no trouble buying silver they were plenty of people selling because $50 an ounce is quite High and a lot of people wanted to cash out and they had a lot of people buying because they expected it to keep going up now you know we can look back and see that those people that expected it to keep going up were wrong it took a pretty big hit it wasn't quite a silver Thursday hit if you will that happened in 1980 but it was a pretty big hit it dropped pretty quickly did it not you can look at the charts and see that so 2011 is another example of silver hitting $50 an ounce and the coin shops buying it and I would imagine that it's probably for the same reason right because they had demand for silver as well not just through the people coming into their shops to buy it because they thought the silver was going up or going to continue to go up but from wholesalers and refineries SL private mints as well that were happy to buy silver to help fill that extra demand that was driven by the higher prices now I'll remind you that you know the silver price is not actually affected by physical transactions of silver so if I were to walk into a shop today and sell this kilo bar to a shop it is not going to affect the spot price at all not one bit but there are a lot of people that see those prices moving and want to get into the physical silver which is why that demand was higher I don't think it's going to be an issue to sell your silver at 50 I don't think it's even going to be an issue to sell it if it got higher than that that maybe you do run into trouble if it hits a actual $200 an ounce because I think mentally even though in 1980 $50 was like $200 I think mentally seeing that number 200 would cause a lot of people to sell I had already admitted earlier that I probably would as well but there are going to be people buying it then just like there were in 1980 just like there were in 2011 I don't foresee there being an issue maybe it becomes a little bit more difficult at 200 maybe coin shops and private do run out of money but I think the demand for silver is going to continue to be there so I don't think it's really going to be impossible to sell your silver but let me know what you think down below like I said earlier I would really appreciate it guys thank you so much for watching as I said earlier don't forget to subscribe and I'm going to put a video up here if you haven't seen it yet YouTube thinks you'll like it so make sure you go watch that next other than that you have a great rest of your day and we will see you next time

Channel: Silver Seeker

Views: 24,365

Keywords: Rare Coins, Silver Coins, Coins Worth Money, Valuable Coins, Silver, Silver Bullion, Silver Seeker, Silver Price, Selling Silver, How to Sell Silver, Can I Sell Silver, Silver Stacking, Stacking Silver, precious metals, silver bullion news, silver bullion stacking, silver bullion investing, precious metals investing

Id: Kr8gp4G6F6A

Length: 14min 27sec (867 seconds)

Published: Fri Mar 22 2024