I just wanted to give a quick update to my friends in the PublishOx community that I made a bulk purchase of silver coins today and there's now a waiting time of about two weeks, around April 12 for delivery. These are for the new 2023 Canadian Mint Silver Maples. Other silver products are still available but I've noticed that quite a few selections are now sold out.
Silver demand is really picking up. Last time I bought a batch of silver was in January, there was no wait time and my shipment arrived within days. With banks failing, it's no wonder there's a sudden rush into precious metals, especially silver since it's way below its fair market value.
The silver to gold ratio has improved in silver's favor in the last couple of weeks. This morning it's hovering at about while just last week, it was at 88:1 and briefly 93:1 earlier this month so that's something to keep an eye on. Many 'silver stackers' are waiting for the day when the ratio finally goes closer to its historical ratio of 15:1 (or better) and then make the switch to gold and taking possession of that gold at a huge discount.
I follow a coin dealer on Youtube who's stated in the last week that he's now seeing orders for 1,000 ounces or more with one person looking for 10,000 ounces. Those with extra cash are starting to pile into silver and grabbing huge amounts in a single purchase. This will make it harder to get for those who want to buy just a few ounces.
The silver market is probably going to get really hot as we make our way through spring and into summer. There's already a waiting list for the most popular coin, the Silver Maple. I'm expecting the wait time to get even longer if sales continue to rise. I really don't see a reason why it would slow down.
Because of the rate hike lag effect, we are feeling the pinch from the first rate hikes last spring and summer. Last fall and winter's rate hike effects are on the way. While I don't know how things will turn out, I do expect things to get choppier going forward.
For me, I see a '' opportunity only silver has the potential to offer. Just as they can print dollars / yen / euros to infinity, so can their currencies' value against silver. How high can silver go is anyone's guess. There have been many inflationary periods in history. In 1927, Germans saw the price of one ounce of silver go to 450 billion marks. At that point, the currency was worthless but in those final moments, someone who had even a few ounces, was a trillionaire and could pay off enormous debts or buy up huge tracts of land, businesses, factories and homes.
Recognizing such rare moments is key to taking advantage of silver's potential.
Below is silver's up to the minute chart courtesy of www.kitco.com.
So now, we're seeing waiting times for silver which means locking in prices at time of purchase. Today was a good time to buy after seeing silver drop below $23... again! I am backing up the truck, folks. I'll be sharing some coins by listing on Ebay with NO wait time except 'while in transit'. In fact, I've already got a few. See photo link below!
I have made 7 Canadian Mint Reverse Proof Privy 'Gramophone' Silver Maple 2019 pure silver one ounce coins available for sale with low, low ship costs on my Ebay channel. Show your support by buying a coin. Send me a quick note letting me know you saw this post on PublishOx (or Substack) and get 20% off already low ship fee of just $5. Once they're gone, they're gone. Click the image below to view the listing. I have other silver bars and coins listed so be sure to browse my other listings as well. Thank you for your support!
Royal Canadian Mint 2019 'Gramophone' Reverse Proof Privy Silver Maple Coin
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