What a wonderful combination! :lol: Just placed an order for some Silver Coins and Rounds; I saved a whole year for this moment.
I thought it was pretty clear we were discussing spot. We have all had our garage sale finds, I have picked up some pre-dec coinage before at a relatively cheap prices, and the odd stirling piece at a good price.
It's what came to mind when you mentioned $1 silver.. That and op shop finds... I realise your talking spot but I can't imagine that will ever happen.
That was exactly my point, $1/oz spot is absolutely possible yes but unlikely to every happen in the current universe. $9 silver is only just barely more likely than $1. Take a look at production costs of Silver and most mines with a silver focus would go out of business at USD$11. The last published price I could see was USD$7.74/oz for cash costs of producing silver in 2014. It's only the vast copper mines with silver as a byproduct which would be in the black at that point as it's only that little extra income they get as part of the production process. The cash cost basically means the running of the mine. It does not include corporate costs (management, debt servicing, exploration, etc). And that cost is based on the top 12 mines/producers, not any one mine which may in fact be higher than that. Some of the Aussie miners are seeing costs drop in USD terms due to a lower cost of oil, and a better exchange rate. At this time, I cannot see these top 12 producers wanting to let go Silver at less than USD$11/oz as an average. Some will shutter production if it gets to that point and go on care & maintenance. That will reduce supply and put pressure upwards on prices.
