/biz/ - Business & Finance

That's insane.

>>54513886
Boomer rocks

>I’m on my break
U.S. Representative Alex Mooney (R-WV2) is calling out Treasury Secretary Janet Yellen and United States Mint Director Ventris C. Gibson for the “long-running production slowdown” in the Silver American Eagle bullion coin program that has caused “shortages and dramatically higher market prices for this iconic silver coin as compared to its peers worldwide.”

Rep. Mooney is demanding Yellen and Gibson provide answers to the following questions:

1. Does the Secretary believe the Silver American Eagle coin is being produced in “qualities and quantities that … are sufficient to meet public demand”?

2. Why is only a single supplier currently allowed to (or willing to) provide the U.S. Mint with silver blanks for its Silver Eagle program?

3. Given its statutory mandate to amply supply these coins to the public, why doesn’t the U.S. Mint have a policy to build a reserve of silver blanks during periods of slower demand in order to create a buffer for periods of higher demand?

4. Has the U.S. Mint examined the practices of other sovereign mints – such as Britain’s Royal Mint, Australia’s Perth Mint, the Austrian Mint, or the Royal Canadian Mint – to learn from their relative success in meeting high public demand for their own silver coins? If so, what were the resulting findings or recommendations?

5. What actions are currently being undertaken to address the Mint’s production problems (which reportedly extend beyond the Silver American Eagle coin program) and when will the U.S. Mint once again be able to fulfill its mandate to meet public demand?

>>54513886
Reminder silver was $49 in 2011 and today it's crabbing around at $24. And that's with inflation having massively increased since 2011 and exponentially going up. That's the absolute state of silver. But wait it's even worse; it was nearly $50 in 1980 and since 1980 inflation has increased even more than from 2011.

>>54513886
they're charging double spot to take advantage of mania

>>54514051

So what youre saying is that it's undervalued by a factor of 3-4x? Thanks I'm going to buy more asap.

>>54514051
Excellent post. Only the most extreme levels of cope and reality-denial can "protect" the silver baggie from this harsh truth.

>>54514080
Smart investors buy assets that are on sale

>>54514051
So what do you estimate the value of silver to be given current inflation levels?

>>54514104
>Smart investors buy assets that are worthless

>>54514012
If you look at other popular coins like Canadian Maple leafs on other sites like silvergoldbull and apmex prices are way too much over spot. They (US and Canadian mint) can't meet public demand because it's too expensive for them to produce in my opinion.

>>54514333
>>54513886
>48

>>54514431
those gotta be used or bulk discounts or both. care to provide link?

>>54514461
You're right. It's $38 if you buy with credit card. Gainesville coin

>>54514104
>an asset has been steadily falling in value for 43 years
>it keeps getting devalued into oblivion; worth nearly 0 now
>is mathematically doomed
What a smart investment.

By the way the devaluation of silver is SO extreme (same goes for gold and fiat) that if one displays this as a Linear chart -- this chart showing how many Bitcoin (which everything is measured against) one gets per oz of Silver -- then it's just a cliff-side straight down followed by a flat line at 0. Total destruction.

And with "total destruction", the following comes to mind.
To visualize what's happening, this is rather fitting:

https://www.youtube.com/watch?v=pTkDb5deHWY

The yellow 01 car is Bitcoin. One of the others is Silver. Another is Gold. The others various fiat currencies.

>>54514511
You don’t grasp the current environment. The final test will weed out the flat brains like you.

>>54513886
Silver is worth it only if you can buy at spot or below; I stack junk silver that I buy for cheap on 2nd hand sites like Kijiji and Ebay

>>54514051
u n d e r v a l u e d
n
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v
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e
d

>>54514564
I like silver but your pic is pure cope and it makes you look like a boomer.

>>54514236
Smart investors don't buy crypto.

>>54514604
Makes him look like a jew.

>>54514633

Law of conservation of matter. Jews can’t print gold infinitely like their paper fiat, and soon electronic fiat.

>>54514511
Yeah, buying Bitcoin 10 years ago is fucking amazing.
>>54514621
If you are wealthy and have no crypto at all you are a retard.
>>54514564
(((Goldberg Standard))) instead of real gold.
>>54514633
Sounds like a fancy way to describe fiat but without kikery.

>>54513886
Wtf

>>54514633
Listen, I denounce the talmud. Hitler was right.
Bitcoin is sound money, it's here to stay unless they ban it and kill all the exchanges. It might be Gold but it has other advantages that Gold can't match. You don't need to hold animosity towards btc to think gold and silver are good. I hold plenty of all 3. If you've never invested in btc during the last decade and you consider your self switched on and interested in finance then that's just silly. If you continue to ignore it even in future even though it's gearing up for another face melting run, again, that's silly. You're cutting off your nose to spite your face.
I bought so much silver with my crypto gains 2 years ago. It eclipsed what I already had by a long way.
>buy crypto in bear
>sell in bull
>stack silver
>rinse repeat.

>>54514729
>it might be gold
It might NOT be Gold*

>>54514080
yes, biz is full of anons that bought silver in 1980.

So much stupidity in this thread I don't know who's trolling and who's retarded.

>>54513886
how much does it cost to mine 1 ounce of silver
> As of my knowledge cutoff date in September 2021, the estimated average global cash cost of mining 1 ounce of silver ranges from around $7 to $12 per ounce, but this can vary significantly depending on the factors mentioned above. However, it's important to note that mining costs can fluctuate over time due to changes in market conditions, technology advancements, labor costs, regulations, and other factors.


You got scammed by the jews looking to keep your money out of crypto markets, it was a divide and conquer plat to prevent Bitcoin ends the fed idea, they made the silver ends the fed scam.

If it cost 7 dollars to mine one ounce of silver how can it be 48 dollars?

>>54514758
It’s always a little bit of both. That’s always how it’s been here. Retards with a hint of sarcasm

>>54514729
Problem with Bitcoin is it's a dead end. (((Blockstream))) is a bunch of kikes and as a result Bitcoin is barely usable. Altcoins are all scams without decentralization. The only good cryptocurrency is Monero.

>>54514771
how much does it cost to mine one btc

>>54514801
Its a dead end for jews not for humanity.

>>54514771
Silver directly attacks the fed through JPM's COMEX position. Bitcoin provides an alternative but it doesn't hurt the J directly.

>>54514642
People who don't want to work are "literally worse than Hitler"
If we never put leftists up against a wall for their hypocrisy, who will?

>>54514822

>>54514815
Over $10,000, but there is only 21,000,000 coins ever.

But with silver:
>According to the U.S. Geological Survey (USGS), global identified silver resources (reserves plus known resources) were estimated to be around 570,000 metric tons (18.3 billion ounces) as of 2020. However, it's important to note that this estimation is based on known deposits and may not capture all potential silver resources that have not yet been discovered or fully evaluated.

You kikes are destroyed by the light.

>>54514771
Crypto is much more scammy. From the base level it’s unregistered securities, to nepotism style Pyramid schemes. I have been very early to crypto and am blessed for it but crypto is completely full of scam artists and liars. BTC’s pathway is not headed towards a digital reserve or payment system. It doesn’t know what it wants to be. Alts are just pajeetware and scam contracts. A mild federal legislative breeze could completely uproot most of crypto’s progress. PMs fundamentally cannot be a scam. They are elements. With a limited supply. They are heavy manipulated like crypto but they have much more capability of effecting the market.

>>54514842
Yes there are other blockchains.

>>54514866
> unregistered securities
stoped reading

>>54514902
I hate the govt more than anyone that’s why I even bought BTC on the premise of end the fed. But that’s an actual threat if FEDNOW sees decentralized crypto as a threat. But we will see.

>>54514771
>If it cost 7 dollars to mine one ounce of silver how can it be 48 dollars?

because the whole business model is based on selling stuff to actual retards at immense margins

sure you have to spend 40% of margin on marketing but what is left is still multiple times better than Apple

selling metal to retards is one of the most profitable businesses that exist

>>54514858
It's a lot less than 21 million when you factor in lost keys and dead people and so on and it needs also to be kept in mind that difficult increases so the remaining coins are always mine hence worth more and more. So in practice Bitcoin is even more anti-inflationary than it is simply by the limit being 21 million coins.

>>54514858
It's a lot less than 21 million when you factor in lost keys and dead people and so on and it needs also to be kept in mind that difficulty increases so the remaining coins are always harder to mine hence worth more and more. So in practice Bitcoin is even more anti-inflationary than it is simply by the limit being 21 million coins.

bros any fiat collapse or precious metals schizo news i can edge to? i know its a long weekend but i want info on whats going on

>>54513886
>JM Bullion
Overpriced af.
No one buys from them except noobs. There almost as bad as Apmex with their price gouging of new stackers.

>>54515283
Case in point. Don't shop at JM Jewllion. This is any quantity pricing.

>>54515353
They used to be very good years ago, that’s how they got so popular. Best way to buy silver eagles is to look for old people on Craigslist. I’ve gotten so many rolls of Silver eagles for cheap. And they are the years of lower montage as well which is nice.

>$48 to buy
>$22 to sell
Nice medium of exchange there, only a 50% goyim tax!

>>54515577
Shops are buying Igles at $29/$30 fudtard

>>54515353
Where do I shop from as a burger? I haven’t found another place that has that much variety

>>54515488
Checked. Amark precious metals started buying up the entire chain from mines, refiners and dealers to build a monopoly. They got Provident, JM, part of Texas PM among others and started jewing up prices worse than Apmex.

>>54515577
My LCS is offering $9 over spot per eagle because he can’t get any and the mint is on back order.

>>54515656
findbullionprices.com
herobullion
monument metals
SD bullion
a reasonable/negotiable lcs
All of the above are some of the better retail options. Dealers can find supply elsewhere, so I ask you, why can't a motivated retail buyer as well?

>>54515647
>Buy at $39
>Sell at $29
SICK GAINS BRO

>>54516098
>what is a buy/sell spread
>how do dealers make a profit
That's the most instantaneous liquid option for full retail, fudtard.

>>54513886
Here you can check the actual spot prices: truebullion.org (frens only)

>>54514431
>>54514461
>as low as
Yes it's a trick. That's if you're buying like 999ozt with ACH

>>54514051
>>54514511
Brutal.

>>54514596
How do you know if you're getting scammed tho

>>54514333
>can't meet public demand
can't and won't are two different things
they are keeping the silver for themselves lol

>>54517463
eh, doubtful. silver demand has, by all measures no matter who you are, increased dramatically over the past two years, with an apparent culmination now. absurd prices for legit coins, as opposed to rounds, is to be expected since they have all the sales data. they probably lose x% of customers by increasing price, but gain x+y% on the sales now.

merchants dont really make money by buying and holding

>>54516351
yeah well that option sucks and so precious metals suck

>>54513886
Normal boom and bust cycle. If you buy at these prices you will be under water for years.

>>54514051
Exactly

>>54515488
uh....

>>54515647
you're crazy as hell. Local silver shops here will buy eagles at a dollar below spot. Nowhere near $28 or $30.

>>54516068
>SD bullion

currently says "Minimum Order Value Has Been Temporarily Set To $500. Read The Latest Update Here."

>>54514051
Reddit apes in shambles RN
Can't wait until these niggers lose everything and they finally fuck off like the tourists they are

>>54514051
>massive supply defecit
>used in all electronics
>critical for electric vehicles
>unique physical properties there is no substitute for
>demand grows, supply dwindles
>also price is way below what it was in 1980

Ok sounds like a good buy to me

>>54514729
You're not alone anon, some of us appreciate PMs and Bitcoin both

>>54514729
This post itself is gold, well put anon.
>>54514801
>The only good cryptocurrency is Monero.
Debate-able but yes Monero is probably one of the best.

>>54514236
>worthless
>most conductive metal in existence

Everyone point and laugh

>>54515672
>Mfw as amark stockholder up 10%

>>54517929
see
>>54515677

Sorry you have a kike run lcs. See the post here >>54516068 where I said
>a reasonable/negotiable lcs

>>54514051
this anon gets it -- massive upside

>>54518154
What is there to debate? No other crypto is even used as a fucking currency.

>>54516098
>he didn't buy at $15

I have some silver, been hearing this for the 8 years I've been holding it. All that happens though when there's high demand is that the premiums go up while the spot price stays the same. But of course if I sell I'll only get the spot price, it's like heads I lose tails the boomer rock dealers win. At least with BTC if it gets more expensive to buy then I can also sell my stack for that same high price, the buy/sell price is the same, no "premiums".

>but muh COMEX manipulation blah blah

maybe the manipulation will break down in 10, 20 or 50 years, maybe it won't. But the fact remains that if I had bought BTC 8 years ago instead of silver I'd be doing much much better.

>>54513886
>1 ounce silver American eagle it costs 48$
and retards still buying

>>54519432
you sound like you stack wieners

>>54514621
Smart investors don't buy lumps of metal

>>54514670
jews mine gold every day
theres an infinite supply

>>54513886
"spot price" is not the price of physical Silver.

>>54514012
who cares anymore. Type2 ASEs are pure globohomo liberal arts faggot vomit shit

>>54514771
>As of my knowledge cutoff date in September 2021, the estimated average global cash cost of mining 1 ounce of silver ranges from around $7 to $12 per ounce
Source? That doesn't even sound like it was written by an English speaker. Anyway, that price does change and if there is no investment taking place in mining then obviously it would go up until it started reflecting the spot price again. Same kind of dynamic as oil production. There's only going to be actual mining happening if there is enough price incentive. How is this hard for you brainlets to understand?

>>54513886
a volatility spike seems overdue

>>54520890
>ugandan gold reserves
This was proven to be inaccurate btw

You know they're panicking when they're pulling out the Ugandan gold memes, next it'll be the asteroid mining cope

>>54513886
FUD is reverse psychology to convince you that "shills don't want you buying precious ASSets"
Silvergold is gonna keep bopping up and down unless somehow Taiwan stops stalling jewmoreweeks, and even then it could just be a localized conflict to pump some stocks for a few months. Better off buying nvda cheap when that happens.

>>54523250
>pump my bags
no.

>>54514051
Ok so will you explain to me why precious metals haven't been inflation proof? I thought the price of these things were supposed to increase with inflation but it sounds like it's stayed the same price regardless

>>54514771
>If it cost 7 dollars to mine one ounce of silver how can it be 48 dollars?
Oh shit, is today's edition of "paid shill pretends not to understand the simplest law of economics: supply and demand" already out?

>>54522465
not buying your boomer bags faggot

>>54523969
Exactly. It's like I said here
>>54522088
If it's that simple, then just go mine silver at $7 and undercut every single dealer out there by selling it at $20 per oz, you're still making over 100% on your investment.

>>54524160
gold demand is at ath so someone is.

>>54513886
Yeah if you're buying 10
https://www.walmart.com/ip/2022-1-oz-American-Silver-Eagle-Coin-BU-Lot-of-10-Walmart/213241585?from=searchResults

>>54513886
>pet rock fud is actually bullish

>>54523969
What’s the all in cost of mining an ounce of silver on average?

>>54513886
Only if you have real silver. You probably dont.

>>54513886

Coins are a waste when it comes to silver. Buy rounds instead. Gold should only be bought in coins, not bars.

>>54514051
>price is lower than before
>this is why you shouldn't buy it

>>54520881
>he thinks PMs are for investing

"Smart investors don't buy real estate because the government might seize it with imminent domain"

>>54524247
Central banks doing the most buying. It's like watching the rats fleeing a sinking ship. Everyone with large stakes wants insurance, no matter the price because they sense the danger in fiat right now.

>>54524879
It's not a hedge against inflation. It doesn't protect you from inflation whatsoever. The last 4 decades have proven this.

>>54525142
The last 4 decades were propped up by a global dollar hegemony that is starting to crumble. We are in unprecedented times as far as recent generations are concerned. The memories of those who remember real collapse are disappearing and these current generations are woefully and ill prepared to deal with the ramifications.

Gold and silver are stores of real value. The last 4 millennia have proven this.

>>54524795
Where is this pic from? What if you have silver eagles exclusively from a reputable dealer like apmex?

>>54528224
>Expecting answers from a shill
Lol
>also buying ASE's from anything but mintdirect through trusted dealers
NGMI, just buy generics or brits/maples

>>54524160
Nice counter, retard

>>54514051
>what's the fiat currency of the world backed by?
this question destroys percious metal fudders

>>54528751
nothing, thats the problem. if you dont use usd the united states government will kill you directly or by proxy.

>>54514051
$50 in 1980 had the buying g power of $194 in 2023 per office Gov stats.

Sipver can and will hit another ATH in the next few years. A 10x return is likely. We had 10c returns in a 5 year period from 2006-2011

>>54513886
>Current spot price for 1 ounce of silver is 24$.
To get a 1 ounce silver American eagle it costs 48$.
Neat. Now try to sell it for $48.

>>54514633
His father was a bastard Rothschild.

>>54513886
how can silver be money in the future when it cannot be used to make purchases online?

>>54513886
>Spot silver price is going to explode.

I've been hearing that for years.

>>54529160
Gold and silver can both be used for online purchases. There are a number of custodians that issue credit cards, vault the metal, and then deduct your spending from the metal balance. This is exactly what the US banking system use to do with checks, paper notes, etc. Goldmoney, Vaulted, UPMA, to name a few to look into.

>>54529160
I've been trying to understand the /biz/ thesis on silver but no one has really made it clear besides a historic ratio that was arbitrarily set by the government and in a time before internet existed. I'd love to indulge the fallacy of having a gigantic stack of coins and feeling rich by buying silver, but I'm not seeing any reason to believe this does anything but continue to trend down against gold. Does anyone have figures for the actual industrial value of silver today?

>>54529211
Okay so it's still just fractional reserve banking but the internet ledger entries are arbitrarily called gold and silver?

>>54529224
COMEX, nigger.

>>54529237
Yes, this is a scam like all (((gold backed))) currencies.

>>54529237
It's not fractional reserve. Its actual reserves. When you use your card their USD pays your transaction, then they deduct the silver/gold from your physical vault holdings.

>>54529430
Does anyone have some good fanfic about the US going on a silver standard or something in the future, or is this just the shiny rock version of a meme stock?

>>54529476
Good book to read called The Mandibles.

>>54529476
I don't buy it but the silver squeeze thing is real. Same goes for gold, but to a lesser degree. At COMEX (((they))) sell 300 oz for ever 1 oz of silver using futures contracts. Just think abiut what this means for the price once the silver runs out.

>>54529591
Does the US have like more gold reserves than every other nation combined and then several times over already?

>>54529616
when was the last time anyone saw inside the vault, and who was the trusted inspector for assessment?

>>54528707
like your is way better, mongoloid