patrick.net

Silver spiked to almost $84/oz today. Back down to $76.

Onvacation says

Silver: $75/oz.

and the US mint selling 1 oz eagles for $95. Any idea where i can buy guaranteed 99.9% silver for $75 oz?

@komputodo

This guy will probably sell you silver for 4% over spot price, which isn't bad:

https://www.mishinternational.com/

So $78/oz when spot is $75/oz.

I think you can't do better unless you go upstream and buy in bulk, or directly from a silver miner or refiner.

komputodo says

and the US mint selling 1 oz eagles for $95. Any idea where i can buy guaranteed 99.9% silver for $75 oz?

The prices you see reported are generally based on a single silver contract. 5000 troy ounces.

Kinda gives a look at the level of wealth inequality in this country/

The vast majority of people are poor

“The comfort of the rich depends upon an abundant supply of the poor.”

― Voltaire

AD says

But also some of it is due to a speculative bubble forming this year. That is why I don’t expect a large crash but some correction in silver and gold prices. Like every other asset class, it should return to the mean.

have RE prices and car prices returned to the mean?

Misc says

The prices you see reported are generally based on a single silver contract. 5000 troy ounces.

what happens when sovereign wealth funds buy 1000 contracts and want delivery and the sellers can't find that amount of silver anywhere near those prices?

I think the price just goes up. Reported price is just the price of the most recent transaction.

But there's no proof that those numbers are real. London was faking interest rate reporting for years:

The London Interbank Offered Rate (Libor) scandal involved the manipulation of interest rate reporting by major banks in London, with evidence suggesting collusion among financial institutions and pressure from regulators during the 2008 financial crisis.

Libor, a benchmark rate used in approximately $350 trillion worth of financial instruments globally, was calculated based on estimates submitted by a panel of leading banks regarding their borrowing costs, rather than actual transactions.

Between 2007 and 2009, Barclays and other banks were found to have submitted false rates for two primary reasons: to benefit traders' positions and to manage public perception of the bank's financial health.

komputodo says

Misc says

The prices you see reported are generally based on a single silver contract. 5000 troy ounces.

what happens when sovereign wealth funds buy 1000 contracts and want delivery and the sellers can't find that amount of silver anywhere near those prices?

They changed the law 20 years or more ago. If they can't deliver, they can just give you fiat cash.

What is more worrisome is that any stocks or mutual funds you have are no longer segregated from a trading company's balance sheet. This means if the financial intermediary goes belly up, the creditors can seize your shares as collateral, and you have no recourse.

If TSHTF, EVERYONE is going down.

Paper gold and silver isnt real.

stereotomy says

hey changed the law 20 years or more ago. If they can't deliver, they can just give you fiat cash.

Can you show me this law please?

GNL says

stereotomy says

hey changed the law 20 years or more ago. If they can't deliver, they can just give you fiat cash.

Can you show me this law please?

https://www.ecfr.gov/current/title-17/chapter-I/part-190/subpart-B/section-190.06

AD says

there will be a rotation back to Bitcoin.

Why do you think that?

Bitcoin is a fad. One day one Bitcoin will buy one beanie baby. It might take two.

stereotomy says

GNL says

stereotomy says

hey changed the law 20 years or more ago. If they can't deliver, they can just give you fiat cash.

Can you show me this law please?

https://www.ecfr.gov/current/title-17/chapter-I/part-190/subpart-B/section-190.06

Thanks, I’ll take a look.

Just thinking out loud here but, how does this affect silver prices? It seems as though they never have to deliver. A shortage isn’t the problem?

Gold and silver will approach infinity as the dollar goes to zero .

It's math.

The dollar was a good reserve currency when it was backed by gold. The last 50 years of fiat have near ruined America. If MAGA fails were headed for communism (fascism) or cannibal anarchy.

Does anyone else's auto type suggest "anarchy" after they type "cannibal "?

Glock-n-Load says

A shortage isn’t the problem?

The deep state is the problem. Them and all the people that believe money is created by government and not labor. Gold and silver are money because they represent the time, capital, and labor it takes to mine and refine them.

Onvacation says

Gold and silver will approach infinity as the dollar goes to zero .

That would also be true for a barrel of oil.

Onvacation says

Them and all the people that believe money is created by government and not labor.

Money IS created by government. It is WEALTH that is created by labor. In this era of fiat currency, trading with gold and silver is essentially barter, and just as uncommon a means of transaction.

stereotomy says

creditors can seize your shares as collateral

Government can just seize any of your shares at any time for political reasons and you have no recourse.

This happened to me with my YNDX and SBER shares, Russian stocks. Government just "put them in escrow" one day years ago, effectively expropriating them from me without compensation. Schwab says I can't do jack shit about it.

Years ago, I owned shares in Petro China, and some old Chinese guy I met warned me that the CCP could simply take them at any time. Well, turns out the CCP did not do that, but the US government did.

Onvacation says

One day one Bitcoin will buy one beanie baby.

As soon as quantum computing is ready, or when someone is just clever enough to come up with an algorithm which directly produces the "salt" necessary to get the SHA-256 hash to end up with a certain number of 0's, it's over. That person will be able to take all the Bitcoin.

The whole thing depends on "proof of work" but the guy who figures out how to avoid that work will get very rich at the expense of other holders.

HeadSet says

Money IS created by government.

Money? Or Currency?

My silver bitcoin will still be valuable long after our fiat currency fails and the last bitcoin is "mined".

Glock-n-Load says

stereotomy says

GNL says

stereotomy says

hey changed the law 20 years or more ago. If they can't deliver, they can just give you fiat cash.

Can you show me this law please?

https://www.ecfr.gov/current/title-17/chapter-I/part-190/subpart-B/section-190.06

Thanks, I’ll take a look.

Just thinking out loud here but, how does this affect silver prices? It seems as though they never have to deliver. A shortage isn’t the problem?

As it turns out, the change to allow PM futures contracts to be settled in cash was done by TPTB to save the counterparties on the hook for the Hunt Brothers' attempt to corner the silver market back in the late 1970's. There's some discussion of this on Financology.net:

https://financology.net/2025/12/17/outlook-2026/#comment-8314

Onvacation says

My silver bitcoin will still be valuable long after our fiat currency fails and the last bitcoin is "mined".

If the US Dollar fails, that silver bitcoin will be the same as bullets, canned food, or cigarettes - something to barter with whoever will accept it.

HeadSet says

Onvacation says

Gold and silver will approach infinity as the dollar goes to zero .

That would also be true for a barrel of oil.

Same with real estate.

The value of the loans outstanding also go to Zip.

HeadSet says

If the US Dollar fails, that silver bitcoin will be the same as bullets, canned food, or cigarettes - something to barter with whoever will accept it.

In cannibal anarchy, liquor, cigarettes and bullets will be MUCH more valuable than bitcoins, gold, or silver.

Onvacation says

When MAGA fails we’re headed for communism (Rebranded as democratic socialism) or cannibal anarchy.

Fixed it for you.

stereotomy says

They changed the law 20 years or more ago. If they can't deliver, they can just give you fiat cash.

I was hoping that you assumed that I already knew that...My point was, if you are an industrial user and you need tons of silver on a regular basis, where do you get it? Wasn't the commodities market the place to go? You could buy futures contacts and take delivery. Now if all they will give you when the contract expires is paper, then what is the point? I think we both know the answer to that...It's just a rigged gambling game involving paper. It has nothing to do with real precious metals.
The problem is that the coin dealers want buy at that low fake price...As long as sellers refuse to sell at that rip off price, no harm done.