Silver Just Blew Through $100
Keep that in mind
It’s amazing how fast the human mind acclimates to “new normals”.
Silver is an obvious case in point. A year ago, $40/oz seemed like a good intermediate-term target. Now, if the price drops below $90, it will be a “crash.”
So let’s take a beat and acknowledge the fact that silver — if you actually want to buy some — has blown through $100 an ounce.
Sure, the paper market spot price remains in the $90s…
…but on physical markets like the Shanghai Metals Exchange, the price is about $103, with the premium over paper widening steadily.
Meanwhile, metals dealers like APMEX are solidly above $100:
Keep That Sense of Wonder
So instead of just re-anchoring at $100, let’s — at least for a while — keep a sense of perspective and enjoy the amazing thing that just happened: Some years ago, we looked at the world, came to a set of conclusions, and acted on the resulting thesis by loading up on an obscure, widely dismissed metal. And it worked. We bucked the consensus and are now reaping some serious rewards.
Nicely done, stackers! Here’s hoping the next stage of the thesis plays out as spectacularly as the first.
We sold a house, high, in 2024, we took all the proceeds in March 2024 and dumped them into silver (mostly a half half mix of monster boxes of Silver Eagles and Maple Leaves). Ever since then we've bought a few mining stocks here and there, and roles of 90% dimes, quarters, and half dollars all the way until now. We're on just my income as a Senior DevOps Engineer, we're renting (will continue until housing prices drop dramatically and our silver goes up more), I'm 43 years old. We have now more than tripled our initial investment! I will convert some silver to gold once the GSR hits 30 or below, but even that I'm unsure of since silver has all the fundamentals from being suppressed for so many decades, it will outperform gold for years to come. But I want to be practical, and my wife and young kids want our own homestead/house/shop, and I want to free my income to start working on my CNC side gig too. So needless to say, it's been awesome, and we always appreciate your insights and sharing info you found!
Well, I wish I had bought more but am glad and blessed to have bought what I did. Thanks so much John for your encouragement and guidance over the years.