Gold Price Today

Summary

The meeting transcript revolves around Dave's silver minting operation and his insights on the potential vanishing of the silver spot price.

Dave provides a tour of his mint, showcasing the efficient furnaces and mold-making processes. He explains how the paper silver market vastly exceeds physical silver, leading to a potential scenario where the spot price becomes irrelevant as people trade silver directly.

Dave emphasizes collecting and refining silver scraps to minimize waste. The meeting also features discussions about producing silver wrenches and hammers for SD Bullion.


Chapters

00:02:03 Dave's Silver Minting Operation

Dave showcases his silver minting operation, highlighting the efficient furnaces and mold-making processes. He demonstrates the triple burner trap door tilt and pour melting furnace, which allows pouring up to 500 ounces at a time.

Dave also showcases the streamlined mold-making process using a specially designed wooden mold and baby powder. The team is focused on producing silver wrenches and hammers for SD Bullion.

00:06:24 Controlling Oxygen and Refining Silver Scraps

Dave emphasizes the importance of controlling oxygen exposure during the melting process to prevent air bubbles and shrinkage in the silver. He uses graphite lids to keep the atmosphere out of the crucibles.

Additionally, Dave highlights the practice of collecting and refining all silver scraps and floor dirt, as it can be worth hundreds of dollars per pound.

00:07:17 The Potential Vanishing of the Silver Spot Price

Dave shares his theory about the potential vanishing of the silver spot price. He explains that the paper silver market vastly exceeds the physical silver supply, with a recent ratio of 397 ounces of paper silver promises for every one ounce of actual silver.

If people demand physical delivery but cannot obtain it, a panic could ensue, causing the spot price to skyrocket or vanish altogether. In such a scenario, the value of silver would be determined through direct trades in local markets.


Action Items

00:00:35 Stack as much physical silver as possible before the spot price goes even higher or potentially vanishes.

00:10:32 Refine all floor dirt and silver scraps to recover the valuable silver content and minimize waste.

00:05:05 Produce and deliver silver wrenches and hammers to SD Bullion on time.

Summary

The article discusses the recent surge in silver prices, with the price climbing over $2 to reach $31.58 per ounce on Friday, a dramatic 6.8% increase.

It explores various theories and speculations surrounding silver price movements, including potential manipulation, the impact of the derivatives market, and the role of exchange-traded products.

The article acknowledges the difficulty in accurately predicting silver prices and emphasizes the importance of maintaining a balanced perspective. It encourages investors to focus on the intrinsic value of silver as a precious metal rather than solely fixating on price fluctuations.

The article also touches on the potential for further price increases or corrections in the coming week and the need to be open-minded to different scenarios.


Chapters

00:00:18 Silver's Historic Price Move

The article opens by highlighting the historic move in silver prices on Friday, with a $2.01 (6.8%) increase, bringing the price to $31.58 per ounce, a level not seen since 2013. However, it notes that due to inflation, the current price is not directly comparable to 2013 levels in real terms.

00:01:37 Speculation and Manipulation Theories

The article discusses various theories and speculations surrounding silver price movements. It mentions the belief held by many that the silver price is manipulated, citing the case of JP Morgan's precious metals trading desk being convicted of spoofing.

The article also suggests that the Federal Reserve's actions to strengthen the dollar and the existence of the derivatives market could act as suppressive forces on silver prices.

00:02:45 The Role of Exchange-Traded Products

The article explores the potential impact of exchange-traded products (ETPs) on silver prices, noting that they can be both suppressive and inflationary.

It cites the example of the SLV (iShares Silver Trust) contributing to the price surge in 2006 and the subsequent peak in 2011.

00:03:28 Difficulty in Predicting Silver Prices

The article acknowledges the difficulty in accurately predicting silver prices, stating that no one has truly succeeded in doing so.

It mentions that various institutions, organizations, and influencers have made predictions, but the author admits that this is the first year their own prediction has been accurate, surpassing their expectations.

00:08:22 Maintaining a Balanced Perspective

The article emphasizes the importance of maintaining a balanced perspective when it comes to silver prices.

It cautions against making financial decisions solely based on price predictions and encourages investors to focus on the intrinsic value of silver as a precious metal rather than fixating on price fluctuations.

00:10:55 Potential for Further Price Increases or Corrections

The article discusses the potential for further price increases or corrections in the coming week. It raises questions about whether silver can hold the $31 support level or if the recent surge was just a temporary spike.

The author speculates that a correction is possible, potentially bringing prices back down to the $29-$30 range, but also acknowledges the possibility of continued upward momentum towards $32-$33 or even higher levels.


Action Items

00:03:59 Join the author's Sunday night market watch at 6 pm Eastern time to observe the market's reaction when it opens in Asia.

00:05:31 Be prepared for the possibility of silver prices either continuing to rise or experiencing a correction in the coming week.

00:06:49 Maintain an open-minded perspective and avoid being overly influenced by price predictions or short-term fluctuations.

00:09:25 Focus on the intrinsic value of silver as a precious metal and its role as a store of wealth outside the traditional financial system.

00:09:56 Consider holding onto silver through price highs and lows, especially if there is no immediate need to sell.

00:12:11 Share your thoughts and opinions on the silver market in the comment section below the video.

Summary

The meeting record discusses the surging demand and dwindling supply of precious metals, particularly gold and silver.

It highlights the significant price increases of gold (17%) and silver (27%) in just a couple of months, driven by factors such as retail investors' buying frenzy, central banks' accumulation of reserves, and industrial demand.

The record emphasizes the limited tradable quantities of these metals, with silver being especially scarce compared to its above-ground stockpile. It also mentions various trends, including states' efforts to facilitate precious metal investments, smuggling attempts, and exchanges imposing trading limits to control risks.

Overall, the record paints a bullish outlook for precious metals, predicting potential further price surges due to the supply-demand imbalance.

Chapters

00:01:33 Precious Metals Price Surge

The record highlights the remarkable price increases of gold (around $2345 per ounce, up 17% in two months) and silver ($27.94 per ounce, up 27% in the same period).

It speculates that if these trends continue, gold could reach $3000 per ounce, and silver could double to $44 per ounce by the end of the year.

00:03:10 Retail Demand for Gold

The record cites Costco's massive sales of gold bars, potentially reaching $200 million per month, six times higher than the previous quarter. This surge in retail demand is attributed to rising food and living costs, with gold seen as a hedge against inflation.

00:05:13 State Initiatives for Precious Metals

The record mentions Wisconsin's new law eliminating sales tax on gold and silver purchases, driven by grassroots pressure from citizens. Additionally, Utah has authorized its treasurer to allocate up to 10% of state reserves to physical gold and silver as a safeguard against inflation and financial instability.

00:06:53 Gold Smuggling and Central Bank Buying

The record discusses a $10 million gold smuggling case in Hong Kong, highlighting the high demand for physical gold possession. It also notes that China's central bank has been buying gold for 17 consecutive months, contributing to the precious metal's price surge, along with other central banks like India.

00:11:56 Silver Demand and Supply Crunch

The record emphasizes the massive demand for silver from India, which imported over 70 million ounces (8% of global yearly mining production) in February alone.

It warns that if this pace continues, India could import all the silver produced globally in 2024. Meanwhile, silver stockpiles on exchanges are plummeting, hitting a six-year low and signaling a tightening market.

00:15:28 Trading Limits and Physical vs. Paper Markets

The Shanghai Futures Exchange has imposed trading limits on gold and copper futures to control price risks, potentially driving more liquidity into the physical gold market.

The record contrasts the physical buying in Shanghai with the paper selling on COMEX, questioning which side investors should be on.

Action Items

00:13:59 Closely monitor the supply and demand dynamics of precious metals, particularly silver, as the record suggests a potential supply crunch due to industrial demand and central bank buying.

00:05:40 Evaluate the impact of state initiatives and grassroots movements on facilitating precious metal investments and potential tax implications.

00:08:19 Analyze the risks and implications of smuggling activities and their potential impact on the physical precious metals market.

00:15:39 Assess the trading limits imposed by exchanges and their potential effects on driving liquidity towards physical precious metals markets.

00:16:54 Investigate the divergence between physical and paper precious metals markets and the potential risks associated with paper instruments.

Summary

The article discusses the recent surge in gold prices, which reached an all-time high of $2,360 per ounce.

The author reflects on their previous prediction from November 2022 that gold would hit $2,350 to $2,400 by 2024, acknowledging that the prediction was met sooner than expected.

The article explores the factors driving the gold price rally, including central bank buying, geopolitical tensions in the Middle East, and expectations of interest rate cuts by the US Federal Reserve. The author emphasizes the difficulty in accurately predicting future gold prices due to unknown factors like central bank activities.

However, the overall sentiment suggests that the gold rally is likely to continue, with the possibility of reaching $3,000 or higher in the future. The article invites readers to share their predictions for gold prices in 2024.

Chapters

Gold Price Surge and Previous Prediction

The article opens by acknowledging that the author's previous prediction of gold reaching $2,350 to $2,400 by 2024 has already been surpassed, with gold hitting a new all-time high of $2,360.

The author expresses surprise at the rapid price increase and suggests that the prediction may have been too conservative.

00:00:25 Impact of Rising Gold Prices

The article discusses the impact of rising gold prices on the general public, including retail buyers and investors.

It suggests that a significant price increase could shift the perception of gold from a hedge or emergency backup to a growth asset or financial instrument, potentially motivating more people to buy gold.

00:00:46 Factors Driving the Gold Price Rally

The article explores several factors contributing to the gold price rally, including hopes for interest rate cuts by the US Federal Reserve, geopolitical tensions in the Middle East, and central bank buying.

The author highlights the difficulty in predicting future gold prices due to the unknown nature of central bank activities, which can have a significant impact on prices.

00:02:23 Analyst Forecasts and Predictions

The article discusses analyst forecasts from institutions like UBS, which initially predicted a high of $2,300 for gold in 2024 but has since revised its forecast to $2,500.

The author acknowledges that these forecasts are conservative due to the unpredictability of major events or conflicts that could further impact gold prices.

00:04:21 Future Outlook and Predictions

The article suggests that the gold rally is likely to continue, with the possibility of reaching $3,000 or higher in the future.

However, the author cautions against making specific predictions, as unforeseen events and factors can significantly influence gold prices.

The article invites readers to share their predictions for gold prices in 2024 in the comments section.

Action Items

00:06:02 Share your predictions for gold prices in 2024 in the comments section.

00:06:17 Hit the like button if you found the article interesting.

00:06:17 Subscribe to the channel with notifications turned on if you want to see more content on this topic.

Summary

The article discusses a concerning situation in China where over $55.3 million worth of gold has disappeared from customers' hands due to the closure of state-run gold shops affiliated with China Gold and Shandong Gold Group.

These shops had offered incentives for customers to store their gold with them, but many have now absconded with the gold, leaving customers with no recourse.

The article highlights the risks of counterparty risk and single-party risk when storing precious metals, and the potential impact of China's economic troubles on the global economy.

It emphasizes the importance of understanding the risks associated with storing wealth and the need for personal responsibility in safeguarding assets.

Chapters

00:00:47 Disappearance of Gold in China

The article reports that over $55.3 million worth of gold has vanished from customers' hands in China.

This has been happening since around 2019, with state-run gold shops under China Gold and Shandong Gold Group closing down and absconding with customers' gold.

00:10:57 Risks of Storing Gold

The article discusses the risks associated with storing gold, both in terms of counterparty risk (relying on a third party to hold your gold) and single-party risk (holding gold yourself and facing risks like theft, fire, or natural disasters).

It emphasizes the importance of understanding and minimizing these risks when storing wealth.

00:08:42 Impact on Global Economy

The article suggests that China's economic troubles, including the deflation in the real estate market and the disappearance of gold, could have a significant impact on the global economy due to China's integration in manufacturing and supply chains.

It also speculates that the missing gold could be part of China's efforts to accumulate gold reserves.

Action Items

00:11:15 Understand the risks associated with storing precious metals, both in terms of counterparty risk and single-party risk.

00:12:17 Evaluate the security measures in place for storing gold at home or with a third party, and take necessary precautions to minimize risks.

00:09:13 Monitor the situation in China and its potential impact on the global economy, particularly in terms of supply chains and manufacturing.

00:13:30 Consider diversifying investments and wealth storage methods to mitigate risks associated with any single asset or storage method.

Summary

The article discusses Zimbabwe's historic move to become the first nation to return to the gold standard in modern times.

On April 5th, 2024, Zimbabwe launched a new currency called ZIMGOLD or ZIG, backed by gold, foreign currencies, and precious metals.

This move aims to tackle the country's hyperinflation and stabilize its struggling economy. The article provides details on the new currency's denominations, conversion process, and Zimbabwe's gold reserves.

It also draws comparisons to the United States' past gold standard and current monetary policies, suggesting that a return to the gold standard could be a potential solution for economic challenges.

The article emphasizes the significance of this move and its potential impact on other nations.


Chapters

00:00:28 Zimbabwe's Return to the Gold Standard

The article announces that Zimbabwe has become the first nation to return to the gold standard on April 5th, 2024.

It highlights the historical significance of this event and provides details on Zimbabwe's new currency, ZIMGOLD or ZIG, which is backed by gold, foreign currencies, and precious metals.

The article mentions that Zimbabweans have 21 days to convert their old cash into the new currency, as per the Central Bank of Zimbabwe's instructions.

00:02:08 Details of the New Currency

The article provides details on the new ZIMGOLD currency, including its denominations ranging from one to 100 million, and the design of the banknotes featuring gold ingots and Zimbabwe's famous balancing rocks.

It also mentions that the new currency will circulate alongside a basket of other currencies, and the central bank will adopt a market-determined exchange rate.

00:07:56 Zimbabwe's Economic Challenges

The article discusses Zimbabwe's economic challenges, including high inflation rates that reached triple digits last year and stood at 55% in March 2024.

It mentions the widespread poverty, high unemployment, and severe drought faced by the country's 16 million people. The article also references Zimbabwe's infamous hyperinflation in 2008, showcasing the $100 trillion note that was eventually replaced by the new Zimbabwe dollar.

00:03:32 Comparison to the United States' Monetary Policies

The article draws comparisons between Zimbabwe's move and the United States' monetary policies. It criticizes the Federal Reserve's mandate of targeting a 2% inflation rate and the devaluation of the US dollar since the Federal Reserve Act of 1913.

The article suggests that the United States may eventually be forced to return to a gold standard, citing central banks around the world accumulating gold reserves at record levels.

00:10:38 Zimbabwe's Gold Reserves and Monetary Policy

The article mentions that Zimbabwe's President Emerson Mnangagwa inspected the central bank's vaults, which hold 1.1 tons of solid gold, with an additional 1.5 tons abroad and $100 million in cash and precious minerals.

The central bank plans to adopt a tight monetary policy, linking money supply growth to growth in gold and foreign exchange reserves.

Action Items

00:14:07 Consider subscribing to the channel if you find value in the content provided on precious metals and other nations' monetary policies.

00:09:56 Search for previous videos on the channel related to Zimbabwe's journey towards returning to the gold standard.

00:13:52 Monitor the success and potential challenges of Zimbabwe's implementation of the gold-backed currency, as well as its ability to manage and adhere to the gold standard principles.

Summary

The transcript summarizes a YouTube video interview between silver dragons and James Anderson, a senior market analyst at SD Bullion, about the outlook for precious metals like gold and silver.

They discuss factors driving recent price moves, comparisons to past bull markets, relative valuation metrics like gold/silver ratio and metal/stock ratios over 130 years, impacts of growing debt levels and money printing, potential for over 100% upside in metals over the next decade.

Anderson recommends allocation to metals for wealth preservation and substantial upside leverage. Key takeaways include upside targets to $166 silver and $4,000+ gold based on 1980 price levels adjusted for today's dollars, ratios likely to drop 5-10x from current elevated levels signaling undervaluation.

Chapters

00:00:35 Opening Discussion on Recent Gold and Silver Price Action

They begin by discussing the recent surge in gold to record highs near $2,200/oz, up 20% year-over-year, still below the 50%+ spikes signaling mania. Silver has lagged but could run to $30+ if gold hits $2,400. Consolidation likely before potential doubling by 2024 if inflation picks up from money printing.

00:04:28 Comparison to 1970s-80s Bull Market and Upside Potential

Anderson explains gold rose 8x from 1976 to 1980 as an analog for current environment. Sees triple-digit silver likely in 5-10 years as decades of suppression unwind, with $166 silver (1980's $50 peak adjusted for today's dollars) as a realistic target, implying 4x gains.

00:17:45 Impacts of Exponential Debt Growth and Dollar Debasement

With surging deficits and debt crossing $35 trillion, ratios like debt/GDP could drop 5x as precious metals vastly outperform. Prior ratios fell 10x in past crises. Expects secular bear market for bonds, dollar over 10-15 years, further boosting metals.

00:23:16 Relative Valuation Argument for Silver vs Stocks

Anderson presents 130-year silver/S&P 500 ratio chart, currently at elevated 220x, in a second tech bubble approaching year 2000 peak. Expects up to 10x outperformance in silver as ratio drops to 25x or lower by 2030s, in line with past silver bull markets.

00:29:12 Recommendation for 20% Allocation in Metals

Cites studies showing 20% precious metals allocation boosted returns and cut volatility since 1968. Believes most other assets like stocks, bonds, real estate in bubbles. Metals offer deep value for wealth preservation and leverage for gains.

Action Items

00:30:25 Accumulate more silver on pullbacks below $25/oz over this year and next.

00:06:51 Plan to take partial profits if silver spikes over $40/oz toward fair value.

00:29:36 Research optimal allocation percentage to precious metals for portfolio model.

Summary

The transcript covers a discussion between SD Bullion employees on the recent surge in gold prices reaching all-time highs over $2,100 per ounce.

They observe spikes driving increased demand, with many buyers new to precious metals purchasing small gold pieces.

Expectations that low interest rates and election uncertainty will lift prices higher lead to recommendations for newcomers to focus on buying silver over volatile gold.


Chapters

Introducing Participants and Surging Gold Prices

The host introduces employees Richard and Harry, then asks Richard about the ongoing rise in gold prices reaching new all-time highs over $2,100 per ounce.

Richard notes initial hesitancy giving way to buyers worried about missing opportunities.

00:02:09 Spiking Prices Driving Gold Purchases and Backorders

Harry relates their store selling so much gold they are taking orders to ship later as buyers chase rising prices. Many newcomers purchasing small gold pieces are surprised at high per-ounce costs.

00:06:36 Comparisons to 1970s Mania and Security Concerns

Recalling 1970s mania with lines out the door to sell precious items, Harry worries social media could now alert thieves. They discuss potential security measures like police patrols if demand spikes severely.

00:10:00 Recommendations for New Buyers

With gold becoming unaffordable, Richard and the host suggest newcomers focus on buying undervalued silver instead. Harry expects election uncertainty and interest rate cuts to lift metals prices further.

Action Items

00:00:21 Sign up for SD Bullion sweepstakes giving away silver coins

00:09:08 Research security options if demand results in lines of buyers outside shop

00:09:21 Notify local police department to request increased patrols if severe demand spike occurs

Summary

The transcript summarizes a video discussing approaches for savings and emergency funds. It analyzes current gold price trends, reasons to hold some gold, using gold for transactions, and comparisons to cash or other assets for funds kept in a safe.

Key points include gold historically outperforming cash while providing a liquid emergency asset, challenges paying directly in gold, allocating at least a small percentage of savings to gold, and diversifying safe assets across cash, gold, cryptocurrency, etc. based on personal risk tolerance.


Chapters

00:01:14 Analyzing Recent Gold Price Increases

The price of gold has been increasing based on economic data and trader expectations of Federal Reserve moves. The speaker has mixed feelings as a buyer hoping for lower prices.

00:02:10 Holding Gold as Appreciating Savings

Unlike cash, gold can provide an appreciating emergency fund that is still easily liquidated if needed. Historical charts validate significantly better returns than holding cash alone long-term.

00:06:26 Using Gold for Transactions

Directly using gold for transactions has some theoretical advantages but very few retailers accept gold payments. Experimental attempts to pay with gold-backed notes reveal the high premiums and exchange rates make this impractical in most cases.

00:08:18 Allocating Safe Assets

Rather than choosing between assets, most people should hold a diversified mix of cash, gold, perhaps cryptocurrency, etc. based on personal risk tolerance. Gold deserves at least a small allocation because of historical performance compared to cash.


Action Items

00:09:30 Research historical gold vs. cash appreciation rates over 10+ year periods.

00:09:41 Analyze premiums needed to directly use gold for transactions.

00:09:41 Determine appropriate percentage allocation to physical gold for emergency savings fund.

Summary

The transcript summarizes a YouTube video discussing the potential for another short squeeze in the silver market following the GameStop stock squeeze earlier in 2021.

It analyzes the factors behind the previous silver squeeze attempt, reasons it failed to sustain higher prices, fundamentals currently supporting silver, and likelihood of a 'super squeeze' happening again.

Key details include silver reaching near $30/ounce during the last squeeze before falling, current real yields falling boosting precious metals, industrial and investment demand rising, and continuing low COMEX silver inventories.

Chapters

00:01:04 Background on Prior Silver Squeeze Attempt

In early 2021 amateur traders attempted to squeeze GameStop stock then tried silver market but failed to sustain higher prices due to complexity versus stocks. Silver reached near $30/ounce before falling back as squeeze unwound.

00:03:09 Current Fundamentals Behind Silver

Various factors now supporting silver include declining real yields boosting precious metals, rising industrial and jewelry demand, expectations for sooner Fed rate cuts, and continuing low COMEX silver inventories.

00:05:57 Possibility of Another Short Squeeze in Silver

If coordinated buying overwhelmed supply from bullion dealers and COMEX warehouses again, prices could spike but likely fail to sustain a 'super squeeze'. Accumulating physical silver remains best long-term strategy.

00:10:37 Conclusion and Recommendations

Trying to force another short squeeze in complex silver market likely fruitless. Gradual accumulation of physical silver as savings vehicle still recommended given inflation concerns and monetary properties.

Action Items

00:10:49 Continue regular dollar-cost averaging purchases of physical silver bullion over time.

00:11:02 Research historical COMEX silver inventory data for patterns and trends.

00:11:16 Monitor Fed rate expectations, real yields, industrial silver demand as price drivers.

Summary

The article summarizes a video providing advice for people who are new to buying physical gold. It recommends starting with popular gold coins like American Gold Eagles or Gold Buffaloes since they are easy to sell locally.

The video explains basics like spot price, premiums, differences between coins and bars, and reputable dealers. It emphasizes keeping things simple initially rather than diving into rare collectibles.

The goal is building long-term savings as an alternative to assets that might depreciate.


Chapters

Introducing Buying Physical Gold 00:00:00

The video is aimed at people new to buying gold who likely want to diversify savings as a hedge against economic issues. The speaker has 16 years of experience and wants to share lessons learned to help avoid expensive mistakes.

Understanding Gold Spot Price and Premiums 00:02:03

Spot price is the baseline market price for gold, while coins/bars carry additional production premiums on top. Smaller coin sizes also have higher premium percentages. New buyers should understand premiums but not obsess over daily spot price moves.

Choosing Coins vs. Bars 00:11:54

Coins are recommended for ease of verifying authenticity and higher buyback potential from local shops. Bars cost less but can be harder to sell in some regions. Buyers should research local market preferences.

Finding Reputable Gold Dealers 00:10:30

Major online precious metals dealers are safe and convenient options for buying coins or bars. The speaker recommends several based on good experiences with prices, payment and shipping.

Sticking to Basic Bullion 00:13:56

Collectible gold coins are tempting but have risk of losing value and being harder to sell locally. Better to start with bullion coins like American Eagles that will be easy to liquidate.

Summary

The article summarizes a video providing a buyer's guide to purchasing gold coins and bullion.

It covers recommended coins for US buyers like the American Gold Eagle and Buffalo, popular coins internationally like the Canadian Maple Leaf and South African Krugerrand, factors impacting pricing including spot price and premiums, where to buy from local coin shops or online dealers, fractional coin options, and storage in capsules and tubes.

Key details include one ounce US coins having $50 face values, new buyers focusing on bullion coins over collectibles or numismatics, the Gold Eagle's 22 karat gold alloy improving durability versus the Buffalo's 24 karat pure gold requiring extra care.

No specific purchase decisions, volumes or pricing targets are explicitly mentioned.


Chapters

Introducing Purpose of Providing Newcomer Gold Buying Guide

00:00:31The speaker has posted many videos on buying gold before but wants to create a dedicated guide for newcomers to walk through the full process without expensive mistakes. The guide chapters will be marked in video description for easy reference.

Recommending Most Popular Investment Grade Gold Coins

00:01:02 In the US, newcomers should focus on widely traded bullion coins like the 22 karat American Gold Eagle or 24 karat American Buffalo over collectibles. Key details on coin specs, gold purity, mintage history and aesthetics are covered.

Outlining Other Popular Government Gold Coins Internationally

00:03:29 Besides the flagship US coins, other well known options include the Canadian Maple Leaf, South African Krugerrand, Austrian Philharmonic, Chinese Panda, British Britannia based on the buyer's location and preferences.

Explaining Spot Price, Premiums, and Final Cost

00:05:49 The fluctuating daily spot price of gold plus a reasonable premium, around 5% for coins, gives the final cost. Premiums vary based on supply, demand, type of coin and payment method, with credit cards having higher fees.

Comparing Buying Options Between Local Coin Shops and Online Dealers

00:07:35 Both venues have tradeoffs - local stores have personalized service but higher prices and limited inventory while web dealers offer wider selection and lower costs but less guidance for newcomers.

Recommending Fractional Gold Coins for Smaller Budgets

00:10:45 Besides one ounce coins, smaller fractional sizes like 1/10 oz are available but have higher percentage premiums. Only the Gold Eagle comes in fractional sizes - other coins require different options.

Explaining Storage and Handling of Gold Coins

00:13:20 Coins should be kept in protective plastic capsules, tubes if accumulating more, and stored securely in a safe or safety deposit box, especially for soft 24 karat gold.

Summary

The article summarizes a video discussing whether there is any physical gold and silver available to purchase.

It analyzes recent volatility in gold and silver prices, pointing to sharp drops followed by rebounds as evidence of tight supply conditions.

The key takeaway is that paper trading markets like COMEX and ETFs have very high paper to physical ratios, meaning there is little actual metal backing paper contracts.

So while some physical coins and bars are still available from dealers, paper futures and ETF investors likely cannot obtain metal delivery. The article advises buying physical coins and bars rather than paper products.


Chapters

00:01:53 Analyzing Recent Gold and Silver Price Volatility

The article highlights a steep drop then rebound in silver prices over a few days as strange volatility indicative of supply tightness. It references a similar price swing down then back up for gold. The buying interest that rebounds prices is linked to longs standing for delivery.

00:05:17 Limited Physical Supply Backing Paper Trading

The article argues the statement of no available gold and silver references the paper futures and ETF markets, not physical coins and bars for retail purchase. It shows declining registered COMEX silver and LBMA holdings over years. At 385 paper ounces traded per 1 physical ounce produced yearly, the paper markets have little underlying metal.

00:07:18 Retail Physical Coins Still Available Unlike Paper

The article clarifies that while paper gold and silver products like futures and ETFs cannot likely deliver physical metal, retail channels still have some supply of coins and bars available for purchase. However, it warns most paper contract holders will never actually obtain real metal delivery.


Action Items

00:08:22 Buy physical precious metals coins and bars instead of paper futures, ETFs, or digital products.

00:08:37 Understand that paper contracts and ETFs may not have actual metal backing and carry counterparty risks.