Do you know how to check the Price of Silver? You can look up the SI=F ticker on Yahoo Finance. We have numerous Prophecies from God, about Gold & Silver, and the World returning back to the Gold Standard. We also have many prophecies that Silver price has been depressed and manipulated but will eventually skyrocket.
Please see Precious Metals Playlist for Gold and Silver prophecies: https://www.youtube.com/playlist?list=PLO1m7bMugpBmHrrHr14a2M889EbTV3WNe
https://finance.yahoo.com/quote/SI=F/
Historical Silver Prices:
1/1/2001 – 4.791
1/1/2003 – 4.853
1/1/2004 – 6.246
1/1/2005 – 6.737
4/1/2006 – 13.510
8/1/2007 – 12.063
2/1/2008 – 19.81
10/1/2008 – 9.730
4/1/2010 – 18.611
12/1/2010 – 30.91
4/1/2011 – 48.58
6/1/2012 – 27.58
9/1/2012 – 34.52
6/1/2013 – 19.45
12/1/2015 – 13.77
7/1/2016 – 20.312
11/1/2018 – 14.094
4/1/2020 – 14.90
8/1/2020 – 28.437
5/1/2021 – 27.99
8/1/2022 – 17.76
4/1/2023 – 24.99
6/1/2023 – 22.810
7/1/2023 – 24.85
9/1/2023 – 22.24
11/1/2023 – 25.29
2/1/2024 – 22.57
10/18/24 – 33.925
The Silver price is very volatile – almost like riding a rollercoaster with constant ups and downs. In 2001 it was worth $4.79 and went up to $6.73 by beginning of 2005. It then jumped to $13.51 by mid 2006. Dropped to $12 in 2007 and jumped back up to $19.8 in beginning of 2008 but crashed back to $9.7 by end of 2008. Then jumped back up to $17.6 by mid 2010, and jumped again to $30.9 by end of 2010. It then jumped again to $48.5 by mid 2011. I then dropped to $27.5 by mid 2012, back up to $34.5 few months later, and back down to $19.4 by mid 2013. It fell even lower to $13.7 by end of 2015. It then rose back up to $20.3 by mid 2016, but dropped back down to $14 by end of 2018. It went back up to $28.4 by mid 2020 and came back down to $17.7 by mid 2022. It went back up to $24.9 by mid 2023, and hovered between $22 and $25 until February 2024.
There are a few things people need to understand about Silver:
1. The spot price is the price indicated using the SI=F ticker symbol. This is the price per ounce that silver is currently selling for on the market.
2. When you buy something like PSLV – Sprott Physical Silver Trust (ETF) on a stock market exchange (e.g. Fidelity), you are paying the silver spot price at that time (no premiums). And then if a month later you decide to sell it, you are also selling it with no hassle, at the spot price at the time (no discounts/premiums). This is the one I’m heavily invested in. There is a comparison of different Silver ETFs. PSLV is managed and stored in Canada. So as long as Canada doesn’t go to war with America, it should be ok. Also per the documents, PSLV allows physical redemptions, meaning you can drive to Canada and pick up your silver if you want. SLV ticker is heavily focused on paper contracts, so if silver price skyrockets, the fund may go bankrupt because it won’t have enough silver to pay back for all the paper contracts. There is also SIVR which I have a little bit of, and it’s a bit risky. The silver is stored in London. However, it is managed by Chase Bank. So when Chase Bank goes bankrupt, who knows what could happen to all that silver.
a. Investing in Silver – https://www.youtube.com/post/Ugkx1KNsxkYcCXmOhFTBSnbdMKOixSeVMbbw
3. When you buy silver eagle coins at a precious metals dealer, you are paying high premiums (overpaying). Meaning if the spot price is $23.50 per ounce, you will pay $31.50 for a silver eagle. So you just paid $8 premium (you overpaid by $8 which is like a 34% fee). Why? Because, the dealers decide what commission they want to charge based on the supply and demand. It’s like going to a car dealership and instead of getting a discount, you were asked to pay an extra $10,000+ over MSRP.
4. Buying silver bars at a precious metals dealer also typically includes a premium, but those premiums are much lower than for coins.
5. Now that you overpaid by 34% for your silver at a dealer, when you go back to try to sell it, the dealer will also charge you commissions on the sell side. So you will also lose money selling. And if the silver spot price has dropped, then you may end up selling your silver at a 50% or even higher loss. So buying physical precious metals is very dangerous, only do it if you never plan to sell it, or if you think the end of the world is coming and only silver will save you.
6. Some precious metals dealers lie, trying to scare (fearmongering) people to buy, by saying very soon the dollar will collapse and you will pay for food and gasoline with silver coins. However, this is not true. Dave Ramsey (financial guru) often talks on this topic. He says in every scenario in history of a country’s currency collapsing, a new currency was created to replace the collapsing one. And even if it gets so bad that the entire world collapses and it will become Anarchy like in the movie Mad Max, it’s better to have water, jeans, and guns/ammo. People would rather trade warm clothes for food. People will trade things they need like jeans and water, not jewelry. A hungry person doesn’t need jewelry or coins, when there is famine and no food around.
a. (Dave Ramsey – Should you stockpile gold/silver: https://youtu.be/R-3Of6rRwi0 )
7. There are also two theories floating around, one is that everything will collapse / technology will fail after an EMP attack, and we are going back to local farming, bartering and trading silver coins. But on the other side we have the theory that a Quantum Financial System (QFS) is coming where everything will be tokenized and run on blockchains and cryptocurrencies, including precious metals. So if you believe that cryptocurrencies will be backed by precious metals, then for you having stacks of gold and silver may not make sense. But if you believe an EMP attack will come and destroy all technology including crypto wallets and computers, then you should probably get physical gold/silver that you can store in your basement. Although as mentioned above, it might not be useable, if you’re the only person in your city that has gold and silver, and food, and guns/ammo, and no one else does, what do you think they will do to you. For example there are many prepping videos online that explain how 90% of the population will die without electricity. So without electricity, silver coins will not save you either.
https://learn.apmex.com/investing-guide/what-is-premium-over-spot/
Precious metals, traded in U.S. dollars, are listed differently based on their type. For instance, if silver’s spot price is $23.50 per ounce, an American Silver Eagle – a popular silver coin – may have an $8.00 per ounce premium. Therefore, a Silver Eagle in the market would cost approximately $31.50
Spot Price + Premium + Sales Taxes (Varies) + Shipping Costs (If Applicable) = Price of Bullion
https://learn.apmex.com/selling-guide/sell-american-eagle-silver-coins/
Paying Taxes
When selling American Eagle silver coins, be aware of potential tax implications. Profits from the sale are subject to capital gains taxes, which vary depending on how long you have held the coins. Short-term capital gains apply if you hold the coins for less than a year. Long-term gains are applicable for American Eagle silver coins held for more than a year, subject to the collectible tax rate of 28% percent.
https://goldsilver.com/blog/should-i-sell-my-gold-or-silver-to-a-coin-dealer-or-pawn-shop/
Most bullion dealers will offer about 95 percent of the spot price, though this will vary depending on market conditions. If you have a large lot to sell or products the dealer is in short supply of at the time, you might fetch a higher resale premium.
https://sprott.com/investment-strategies/exchange-listed-products/physical-bullion-funds/pslv-dont-overpay-for-silver/
PSLV provides investors with exposure to physical silver at a time when demand is high, causing excessive premiums for coins and bars.
6 Reasons to Own the Sprott Physical Silver Trust – NYSE Arca: PSLV
Don’t Overpay for Silver: For example, 1-ounce silver coins have been recently priced at $32.15 when spot silver is only $22.96 an ounce – that’s a 40.02% markup. Silver coins Prices as of February 1, 2024
- Fully Allocated Silver – The Trust only holds fully allocated and unencumbered silver — no exceptions. PSLV exclusively invests in London Good Delivery (“LGD”) physical silver bullion.
- Redeemable for Metals – Unitholders can redeem their units for physical silver bullion on a monthly basis, subject to certain minimum requirements. Learn more in How to Redeem.
- Trustworthy Storage – The Trust’s metal will be held in custody by the Royal Canadian Mint, a Federal Crown Corporation of the Government of Canada. There is no levered financial institution between the unitholders and the Trust’s physical bullion and no risk of financial loss in the event of a bankruptcy or nationalization of the financial institution.
- Potential Tax Advantage – The Trust offers a potential tax advantage for certain non-corporate U.S. investors. Gains realized on the sale of the Trust’s units can be taxed at a capital gains rate of 15%/20%1 versus the 28% collectibles rate applied to most precious metals ETFs, coins and bars.
- Easy to Buy, Sell and Own – Trust units can be purchased on any open trading day for the New York Stock Exchange or Toronto Stock Exchange. No need for investors to handle, secure or protect the physical metal.
- A Liquid Investment – Trust units are highly liquid and can be sold on any open trading day for the New York Stock Exchange or Toronto Stock Exchange.
https://web.archive.org/web/20250417150910/https://sprott.com/media/kl4csvyl/pslv-prospectus-en.pdf
PSLV Prospectus
Pg.13 – will store all physical silver bullion owned by the Trust at the Mint (including at a facility located in Canada leased by the Mint for this purpose) or in the treasury vaults of a Schedule I Canadian chartered bank or an affiliate or division thereof in Canada on a fully allocated basis, provided that the physical silver bullion held in Good Delivery bar form may be stored with a custodian only if the physical silver bullion will remain Good Delivery while with that custodian;
Check out my post with a list of precious metals dealers and those that accept crypto for payment: https://www.youtube.com/post/Ugkx-52jgMKhrqQouMgYSuppgslT58jOx1fu
