Silver is crashing because I bought 12 eagles and 40 buffaloes a week ago Tuesday with spot at $34.80. You must follow what I do for infallible insight!
A $1 drop is not a “crash,” nor is it “huge.” You sound ridiculous when you say it is. I know you need to generate excitement to get clicks, but beware of crying wolf too many times.
Last time silver crashed was in 2011 dropping more than 30% over a couple of weeks. An occasional one-day drop of 3.5% is expected in these turbulent times. So not a crash.
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Same here. I placed an order Sunday at $33.72 spot price, and then it drops just shy of a dollar at $32.65 as of the time of writing this comment. I buy, you all get a dip :)
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Yeah I was wondering that also. All these RU-vidrs talk about it but they don’t say when they are doing the drawing. It’s just to get your email I’m sure
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They're not meant to be a store of wealth. Premiums are WAY too high for that. They're meant to be sound money for doing daily transactions in the states that have adopted them, and anywhere else where they're accepted as payment. They're basically marketed as inflation-proof CURRENCY, not stacker-gold.
All the people who don't understand the premiums on Goldbacks are looking at them from the perspective of stacking. Yes you can stack Goldbacks but they are designed to be a currency. Goldbacks are easier to spend than traditional gold and they have superior security features to traditional gold. Hence the premiums.
Definitely the best so far. Mostly, for me, it's because the design is so simple. The others are so very "busy" to me. I want to get my hands on some of these. But I'm afraid I'll miss it. There's one bullion dealer website I found that says they have a waiting list, but I've never heard of them, so I'm not sure I want to give them my info.
A $2 note would be cool. My first purchase it was $1.98 each through Alpine - including the 70% markup. Now its worth $2.78 at melt. I still don't recommend stacking it, but its great as a side purchase.
The stock market is having a down day, 2nd in a row....Traders cover losses by selling PMs including silver. This drives PM prices down. This down pressure is added to 50 million oz of shorts put in by the big 8 western banks in price suppression. But of the PMs silver is more volatile which provides greater buying opportunities. The price can't stay down because demand has exceeded supply 4 years running and is about 500M oz in 2024. The price dip is a regular pattern. The GSR has increased to 83.7 oz silver to one of gold. Savy investors buy these dips of 3-5%. Silver is a great investment and proof is in the price. Silver is still up by over 50% since the dips of Feb 2024. That's ahead of all the major stock indices and gold on a percentage basis. Hope this helps.
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I'm not a fan of goldbacks. The premiums for goldbacks are insane. Junk silver is a far better option for barter, much lower premiums. I live in Nevada, one of the states with a goldback series. Very few businesses in Nevada accept goldbacks, and that list is not growing.
Yes you can barter with silver easier enough but counterfeit silver is very common. Goldbacks are extremely difficult to counterfeit and they weigh a lot less than silver does.
I think they are really cool but definitely more of a novelty. I'd take them in trade but wouldn't be the one to actually buy them direct. They have an insane mark up so until they are removed once or twice via trade or spending, they aren't worth it. Funny how people buy gold and silver bc we hate the idea of money that is worth less that it's value... then buy gold backs which are worth less than their value.
Why did the prices fall like they did? Easy. LBMA started dumping paper at 10am EST and by 11:00AM when it closed, prices then stayed in a range. Happens all the time. The banks don’t like metals doing too well.
Hero bullion seems so slept on. I'm almost a year in to silver stacking but they are the only place I've ordered off of online. I've mostly bought in person but I was impressed with the price and options.
The problem is you can’t buy Goldbacks for what their face value is. As an example a $1 Goldback for almost all the states that have them cost around $5.32 - so when you to to a merchant that accepts Goldbacks they are only going to give you the face value of $1 when you spent $5.32 for that $1 Goldback….
@ Well 5 states have these in denominations of $1, $5, $10, $20 and $50. But to buy even the lowest denomination of $1 will cost at least $5.32 - so my question is for the businesses that accept these in the 5 states that issue them, do they give you the denomination amount of the Goldback currency you hand them, say a $1 Goldback or do they take the current price of gold and divide it by 1,000 the stated amount of 24 carat gold which as it stands is only about $2.75….
If the time comes when people no longer want or accept US dollars it will be difficult to pay for everyday items with gold ounce coins. Sure, you could shave them, but golbacks would be far easier to use because the denomination is so much smaller.
@@CyrusOfNaias Exactly!...If you live in a Goldback State You can't lose money. Even if you don't live in a Goldback State their Value Increases continuously. ( You can't lose money)
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Uncertainty has had a large influence on the market. It is obviously volatile at the moment. Not in a sense that you are going to lose everything but if you spend 10 k at 2 dollars high based on speculation and fear it could hurt for a bit Short term. The criticism of gold backs I don't really understand. It's being set up as a gold backed currency for exchange that ignores government inflation. It all seems to make sense and I don't understand negative comments.
Get a set of the $1 GBs as a curiosity only (for now) - the 100% premium is not worth a larger purchase - if youre going to use them as currency in the respective states of issue, then you get a better deal 💲😎
They were never meant to be a way to store wealth. They've never been marketed as a way to store wealth. So, what are you crying about? Don't like them? Don't get any of them. You've lost nothing by Goldbacks existing.
133.1 million ounces of physical silver. Our largest holder of silver private Bank, JP Morgan had manipulated silver for 50 years. Any time you think 🤔 silver is going to skyrocket. Silver sniffs 36 dollars per ounce. It’s smacked down.
Why ? Very easy to answer the question. What day are we ? 31st of october and therefore lastvday of the month and many traders have to meet margin calls so the easiest way is to sell paper gold and silver. After the selloff of millions of ounces they buy the same amount ascto get more contracts for thrir money. This has happened continuously these last few months. As I say, never buy the last day. Correction ; Buy the dip. They always exagerate selling. Coin prices look a bargain from what they were yedtrtday.
Should be the same as the buying value of any other Goldback. Except that the early release limited edition Florida Goldback will probably be a collectors' item and be worth far more than the others.
@@laurashibuya Can you deposit them in your bank? What would a person who want's $100K in gold backs do for storage? And do all grocery and utility and mortgage companies accept them, or is this to early in time to actually use them easily?
Yes, high premium, but there are a large coalition of businesses in the respective gold back states that accept them at an agreed exchange rate. This makes it far more transactional than traditional gold and silver. It is a small step forward if you believe our money should be metals.
Even if they were? Who cares? It doesn't benefit anyone. Gold or goldbacks are a worse medium of exchange than dollars for buying stuff. So some people are doing something worse? What else is new.
I bought a few gold backs a year or so ago just as a novelty. When I got home I did the math and realized I paid $50 for about $30 worth of gold. If you use these things as a payment instrument, you're getting screwed. Stay away.
It's only insane from the stacking perspective. Goldbacks are designed to be a currency. They are easier to spend and far more difficult to counterfeit than traditional gold. The markup makes sense when those factors are considered.
