With such big stockpiles and still decade-high coin sales figures, the way up is likely in time as far away as a couple decades. A while ago it didn't matter much when you bought in the eighties or nineties.
Silver production and recycling runs at about 1,000 million ounces per year, ie 1 billion ounces. At 16 odd US Dollars per ounce, it is a 16 billion dollar per annum market. In a major financial downturn, it does not leave much to be shared between industry and 7.5 billion people. That is why there is decade high coin sales. In future situations, this silver will be in strong hands, it will not be shared or averaged out across the board, it will cost others to get it.
What have coin sales got to do with it? When the hunt brothers shook their feathers the world was awash with 'junk' coins that had been minted in 100s of millions worldwide and withdrawn as currency and that made no difference. US, French, British, Belgian Italian. Everywhere. Take a look at the mintages of silver coins in the 19th and 20th centuries alone. in 1978 and 79 France alone minted well over 12 million silver coins every year but why stop there....Belgium minted over 22 million silver coins in 1873, it was still minting a million of the darn things 100 years later in 1976. In 1874 Italy turned out well over 12 million...etc etc etc etc These silver disks have been churned out in the 10s of millions for nearly 200 years. The population of the planet has soared in that time. So tell me again about disbursed 'stockpiles' of coinage mattering when it comes to weird silver price gyrations.....if you think the relatively modern/recent phenomenon of silver stacking has resulted in a greater disbursed stockpile of coinage than the left overs of 100s of millions of silver coins from the bimetallic era and the 19th century that stayed in private ownership....humbug...the whole foundation of the logic is flawed. Modern bullion coinage and bars only figure as a decent percentage of demand recently 9and pretty marginal 10 years ago). When I first bought silver bullion was relatively unavailable and I wound up with rolls of sterling chain from a bankrupt jewelry manufacturer. I like Piroccos posts but this is just nonsense. if he was correct there would have been no hunt brothers or post 2009 silver bull market in the first place. There was already a mountain of silver coinage about in what he calls a 'stockpile" in private hands dating back to bimetallic currency that dwarfs that held by stackers. Anything could effect silver supply or demand in the next 20 years. Anything (positively or negatively). To pretend you can guess the unexpected (e.g the birth or death of film photography) 20 years in advance is just crackpot. Caveat Before I lost it all over the side of a boat 3/4 of my pm holding was in gold 1/4 in silver, Silver is a wildcard. It is volatile and relative to gold a small capitalisation market. No one in my opinion should put at very most more than 20% of their wealth in PMs - AT MOST. It has value in being without counterparty risk and is a hedge against government itself - which is why I like it given the consistent idiocracy government has proven to be for a looooooooooooooong time, prone to disaster, war, economic blunder and outright vanishing. It is the premier method of intergenerational wealth transfer. in the physical form it has no deposit tax, brokerage fees, management fees or necessity to hire a solicitor to transfer its ownership. That is good enough for me. I do not believe in to the moon.
Damn that was a 4% swing to the downside for gold and silver in the space of 15 minutes.. no news.. just a how-u-doin smackdown Don't think the ppt liked the 1210 gold support.. looking to smackdown before new york opens so no more pesky incremental price climbs like the last couple of nights.. Base metals are nearly as easily manipulated when devilery is taken and shortages abound.. Copper 2.5% and Nickel 4% are racing
http://www.bloomberg.com/news/artic...s-in-u-s-decrease-to-lowest-level-in-15-years Jobless Claims in U.S. Decrease to Lowest Level in 15 Years A. Gave up B. Claimed Disability Would of thought the high paid oil rig job meltdown would of been a disaster.. who is hiring - just low paid retail and burger flippers right? Regardless the number distort economic health and the real "unemployment situation" http://www.dallasnews.com/business/...penings-are-for-low-skill-low-pay-workers.ece Agreed -- its a total con, Zero chance the US will raise interest rates in 2015.. Anyway is excellent for us if the US$ is strong.. great for AUS miners and holders of PM's
Ignore the job figures and worry about the distorting effect of the growing tsunami of cheap money (debt) pumped into real estate and equities, giving a false appearance of growth, combined with economic sabotage by vested interests influencing government policy to ensure incumbent businesses are protected from competition and innovation that would lead to real economic growth.
Real ugly.. butt hurt .. feel for anyone using leverage or doing futures trading going long right now.. bad enough owning gold/silver stocks.
