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I was buying silver when it was only $12 per oz.
Typically you can find pre-1964 quarters and nickels at almost any antique shop and thrift store, or sometimes even at flea markets. Pretty easy to find shops that sell them today. Those will be the coins to barter with if something ever happened to the US Dollar (if people are even willing to trade essential goods for silver that is). Otherwise you can go to any coin shop that specializes in silver and gold and buy full ounces or even full silver dollars (the really big coins). Don't concern yourself with silver bars unless you have a ton of fiat currency you want to liquidate and protect.
In any case, when there is a massive economic crisis, essential goods to survive will always reign king (long-term food storage, clean water/water filtration, guns/ammo, tools & hardware accessories, extra clothing/underwear/socks/gloves/shoes/boots, extra first aid supplies and OTC meds, extra sanitation supplies)... silver will only protect whatever value you had invested with fiat currency. Digital accounts & ETFs will be useless, if you don't hold it you won't own it.
What do you guys recommend for buying silver? Should i be getting higher premium stuff like American silver eagle, generic bars/rounds, junk us coinage, or something else? I already have about 10 oz of a mix of all of the above
You can stack some silver coins and hide them away around your private property, just make sure to remember where you put it and check on it periodically. Having multiple locations is the best way. Always buy the physical silver and gold with cash too, so no one has a trace of it. Same way I buy ammo.
I'll be honest bro, if I were living in an unsafe area the first thing I would invest in is a gun and some ammo. Anything else would be a secondary concern for me.
I don't know what you should do if you are living in some ghetto but if you feel your own home is not safe enough you could store it in a safety deposit box like many others do, although under federal law safety deposit boxes are subject to seizure or confiscation whenever the government desires so...... You will have to come up with a way to stash and hide it away without anyone knowing if you cannot trust your own residence and hope no one finds it or sees you. Best of luck.
I stack silver coins and bars as collateral so if I ever take a loan (which I often religiously pay back in time) and for some reason cannot pay it back in time, I can liquidate my physical holdings to pay back my debts. I also stack them for hard times, for similar reasons. It is not a bad idea to hold something of physical value, you never know, you might need to use it and the whole idea is: silver will always have some form of value.
Everyone talks about solar technology these days. You know what you need A LOT OF to manufacture solar technology? Guess! SILVER. Solar technology relies heavily on silver mining. So it ain't going anywhere but up these days.
Q:Why did the Reddit silver short squeeze fail?
A: Why was it not a silver short squeeze? Because all the evidence points to a blogger/speculator buying $35 call options on silver, then posting about the “mother of all short squeezes” on Reddit and selling for 5x profit in a matter of three days! In other words, this looks more like a classic “pump and dump” carried out in full public view. The $35 call options on silver were trading around $0.30 on Wednesday January 27 but after the massive promotion on Reddit, they had spiked to $1.65 on Monday February 1. If this had been a short squeeze, the market would not have spiked down on Tuesday February 2, it would have had a much longer bubble runup like 2011, when there was excess investor demand and a lack of supply short term.
Why is it not feasible or even possible to “squeeze” the silver shorts? Because there is a world of difference between shorting a stock and hedging a commodity. The Gamestop shorts were naked, that is the shorters had to borrow the Gamestop stock and sell it in the hope of buying it back at a lower price. If enough investors buy Gamestop stock, it puts upside pressure on the stock price and the shorts get margin calls which they either meet, ie. put up more margin or buy back stock to cover their short position. However, the silver “shorts” are not naked, they are mostly covered hedges of physical silver stored in vaults. It is true that silver has an outsized paper short position compared to other metals but the reason is quite simple. Silver is the only common metal that is mined primarily as a byproduct of other metals. Fully 70% of all silver production is a byproduct of copper, lead-zinc and gold mines. But those copper, lead-zinc and gold miners tend to be very large and diversified global mining companies who are happy to sell forward or hedge their byproduct silver production so as to lock in that revenue and leave themselves unhedged to their primary metals. Who buys these forward sales? The bullion bankers, or commercials, whose business is not going long or short anything but rather charging a fee for their services. When a bullion banker goes long physical silver by entering into a contract to buy silver from a large diversified mining company, they automatically go “short” in the paper market to balance their position. When the silver price rises, the value of the commercials physical silver holdings, including future holdings, also rises so they simply cover their hedge and reset it at a higher price. This they can do ad infinitum so it is neither feasible or even possible to squeeze the silver “shorts”. If anyone were to try to squeeze the silver paper “shorts”, the biggest winner by far would be the commercials because of their physical “longs”.
