At the beginning of February there was great anticipation that the Reddit group of retail investors was positioned to take on the monstrous silver short that has kept the price depressed for nearly a decade. In fact the battle over the silver price has been so great that it is the ONLY asset that has failed to reach or surpass its high achieved 40 years ago in 1980.
- After oil, silver is the second most widely used
commodity in the world
- Silver demand has outstripped
production for many years
- The silver price reached an
all-time high of $50 in 1980
- Silver is the only commodity in
the world that is currently priced lower today than it was back in 1980
Current Spot Price: $26.92
Golden Eagle Price for 1 - OZ Random US American Eagle: $36.34
SD Bullion Price for 1 - OZ Random US American Eagle: $37.15
Apmex Price for 1 - OZ Random US American Eagle: $39.15
Miles Franklin Price 1 - OZ 2021 US American Eagle: $9.00 above Spot Price
In addition, most of these dealers are paying individuals upwards of a $4 or more in premiums above Spot for their silver, however the problem is that VERY FEW are selling.
Besides its power as a monetary metal and store of wealth, silver demand is expected to skyrocket in the near future as demand for alternative energy sources coupled with the rise of Artificial Intelligence will take an already stretched commodity and make it almost priceless.
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