Comments by "" (@jmitterii2) on "Silver IS NOT What You Think It IS" video.

Since Silver has always been very cheap, even as a child in the 90's I would buy ingots and also collectibles like Morgan dollars. Still have all the silver I bought back then. I started when Silver was $4 an ounce then it went to $8 then went to $4 an ounce which was difficult to get the pawnshop to sell their ingots to me; one lady demanded that I show her my Idaho license to buy and sell precious metals. My dad was there too. I scoffed at her, are you going to sell me the stuff or not! I bought before, and I know I don't need any license to buy this stuff. If you don't want to sell just say so. She finally relented and sold me some ingots and I think that's when I bought some WWII 50 cent pieces that have silver in them; in fact that's why she relented on selling the silver, that I bought the more profitable to them collectibles. Anyway, my uncle bought literally several tons of silver in the 70's and early 80's. Lost his ass. My experience with silver is it's very unstable. It's a bi product of every metal mines; zinc, nickle, copper, iron, etc. almost every mine has a silver bi-product production line, because its still profitable to do so. And there are literal silver mines primarily producing it. And as he said, central banks sold most of their silver back in the 80's, 90's (in fact the $4 an ounce was Russia selling off all their silver holdings early 2000's late 90's... the day I bought it, the actually trading price that day and through the month I think, was actually $2 something an ounce... it shot back up over the year making an average of $4 an ounce, thus her reluctance to sell me the ingots I think). The biggest non-recycling consumption was photography; to make silver iodine, that's gone. Silver isn't as useful. Silver is still nice, just don't expect it to suddenly go up $100 or $1,000 or any orders of magnitude. Expect the range of $10 to $20 range.
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@bradleyweiss1089 Collectibles. There's a difference, if we're in a global economic crash, or sustained depression, it becomes difficult to find people to pay a premium for your any collectible. Collectibles become ridiculous over bid high priced during the best times, in fact, they tend to reach their peak of absurdity just before an economic crash.
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@lisalph8922 States can't. Doesn't say the Federal government can't. "No State shall enter into any Treaty, Alliance, or Confederation; grant Letters of Marque and Reprisal; coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debts; pass any Bill of Attainder, ex post facto Law, or Law impairing the Obligation of Contracts, or grant any Title of Nobility.
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back in 2011 was doing customer service, some guy was telling me how he just put his entire life's savings into silver; it was I think $30... I couldn't keep my thoughts to myself, all I could say is oh no... don't do that. And I had to explain as a childhood collecting silver in the 90's and my uncles loss in buying literally tons of silver in the 80's, and gave him some websites on the supply of silver letting him know the biggest consumption of it was use in film making silver iodine, that's basically obsolete. And every metal mine still processes it as a bi product. It's other uses are also declining. It's why you don't see many only silver mines in development. Most of its other non-photography uses, the silver is recycled and not taken out of supply. I hope he sold about that time because I recall in crashed back to $14 to $20 range. And he bought at $30 or higher... his life's savings. I think he started having second thoughts of holding on to the stuff. I said, do it for fun, but don't do it for investment. If that's your life's savings, get rid of that silver! Gold would be better. But really consider all investment options; and make sure you have cash savings for immediate needs: rent, food, transportation, etc. Don't put all your money in one place. Nor all your savings and/or investments.
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