That's why when people say to me gee I'd Love an ounce of gold Harry but I'm Gonna I don't want to pay these prices And I my answer is I understand however Next week these may look like a bargain Yeah with the upward pressure on price [Music] Did you know SD bullion is giving away a Monster box of 2023 Silver Eagles sign Up today at sdbullion.com sweepstakes All right we're headed back to Harry's Coin shop it's raining today no surprise Uh we're gonna talk to Harry and see What his thoughts are on precious metals Right now what's going on with gold and Silver welcome back welcome back Everybody first thing I have to say is There is less silver in your shop Uh than there was the last time I was Here so it's been about two weeks people Are obviously buying it up huh they are And uh in large part thanks to your Video we have a lot of new customers who Are demanding this certainly not Complaining but it's it's increased the The pressure on inventory are people Specifically wanting the junk silver or Is it basically everything they want all The bullion to or Yes both answers yes to both some want 90 percent some want bullion some want Both yeah because I was gonna say uh Looking at like your silver rounds it Appears to be a little bit thinner as
Well I just imagine that demand has been Pretty crazy these last few weeks it has And one of the things that I was Thinking about this shouldn't come as News to most of your viewers but When we run out of rounds or it gets Thin as you said We will eventually get more when Inventories catch up but with the junk Silver and 90 constitutional none of This has been minted since 1964. that's 59 years and every year more and more of It's melted and so the supply is forever Dwindling yeah and therefore people who Want this are going to have a more Difficult time going forward it's never There's never going to be more of it Right it has a limited Supply do you Think that more people buy when the Price is going up or when the price is Going down because I feel like when the Price is pretty low people didn't care About silver it's my experience that we Get more new customers and sell more Silver and gold when the price is Spiking because when it hits the the Regular news media not YouTube channels That are specific to the metals but it Hits the General Media people who don't Normally follow this feel like they're Missing out yeah and start coming in and Buying and I can see too like uh I think It was like 20x maybe last time yes Price has gone up but obviously there's
Less silver here so people are buying it Even with the higher prices I mean we're Just trying to stay competitive really And we have to pay a lot more to even Find it one thing I have noticed is that Premiums at most of the online bullion Dealers have gone up way higher than They were just over the last few weeks Obviously your premiums go up as well When you Source this stuff I mean is it Getting harder to find or is it just you Have to wait longer for it to be in Stock Again the 90 is very hard to find right Now really very hard people aren't Parting with it like let's say I wanted To buy all of your junk silver which I'm Not going to Uh but let's say I was like all right We're just gonna buy them out would you Be able to replace it or how long would It take you to replace what you got in Here just a few days after the video Aired and it was just that spike in Metals and you know some of the viewers Calling in I mean we're completely wiped Out for like a day but I mean I was able To make some calls and get some stuff Shipped over to us but even that's Running a little low with what we can Get in because uh like here was saying The wholesalers are just paying you know Over the top for these things and you Know we try to keep it in stock so we
Can keep our customers happy and Um you know keep it in keep it in stock As much as we can yeah so it's possible That if you guys sold out you might not Be able to get more for a while right I Mean that's possible for sure the the Big Distributors like where we sometimes Have to get rounds and so forth are Charging more to us Then we're asking for it so in other Words our replacement cost from the big Distributors would be more than 24 times No way for sure that's crazy that's Crazy so if you bought more you'd have To charge even higher premiums if I Bought from them wow so does that mean That if people are bringing in precious Metals to sell right now they could get More for their money this week than a Few weeks back More than we've ever given we were Paying Two days ago 21 times face just to get This replaced no you know one more Time's face than you saw in the last Video where we were selling it for 20. So if someone bought it two weeks ago at 20x they could bring it in today right And you'd buy it back for 21. happily Definitely so literally in two weeks That's amazing and people you know I Know they're upset When they've done this for a long time And they say gee the 90 used to be a
Lower premium Per ounce than rounds ever were but I Again believe those days are over Because of a dwindling Supply yeah yeah You just can't get it they don't make it I mean there's no more being made and People don't want to get rid of it once They have it they just want to keep it Forever and pass it on to their kids Indeed well one thing if we look back at The bullion case here I will notice you Guys have more gold at least you know Out here on display we got near a record High yesterday on gold the record high Is two thousand seventy six dollars and We were it was at 2021 and so people who Have been waiting to sell Jumped on the moment and so we probably We probably spent eighty thousand Dollars yesterday just on gold so you Were buying it so people are trying to Get rid of it then because they felt Like the price was sort of peaking or Yeah that they're trying to time the Peak which is impossible but yeah they Caught it pretty good yesterday yeah Well that may be the case but I I think Over the next probably a few months and Certainly over the next few years I feel Like two thousand dollar gold is Probably relatively low compared to Where it could go That's why when people say to me gee I'd Love an ounce of gold Harry but I'm
Gonna I don't want to pay these prices And I my answer is I understand however Next week these may look like a bargain Yeah with the upward pressure on price Yeah just like with the uh with the junk Silver they could literally have made Money over two weeks buying it and Reselling it back to you that's that's Absolutely true on the on the junk Silver don't you feel like with Everything that's going on in the world With the dollar and inflation possibly Losing the Petro Dollar World Reserve Currency status I mean there's so many Things going on don't you feel like People are trying to get out of the Dollar and trying to move into something More safe I can't comment Too specifically on the the whole the Global picture because I'm really not an Economist but I can tell you on the Ground here in the shop we hear it over And over I want to get out of my bank account or My 401k or my CD and get it into Metals Yeah so that's you know not a microcosm Of the bigger picture is that people Want to get out of paper and into the Metals well it's smart I mean you you Agree as well I'm sure it's just it's a Safer place to have your money yes we've Had people that come in and you know Like Harry said taking out money from
Their 401ks and some having trouble Doing that and because I want to convert It over to Metals but yeah it's it's Been quite an influx of people that are Trying to replace their dollars for gold Real assets yeah well it's interesting Too that people were selling their gold Now were they selling their gold and Just taking cash or were they trying to Buy silver with that money I'm curious What people were doing There were one or two who made some big Trades from gold to Silver but for the Most part we're just cashing out some For Like one person was doing a down payment On a house but most just felt like it's Hit a peak I'm gonna get out I've been Waiting yeah well for the person making The down payment on the house I think That's a great idea if you're trading From you know one safe asset to another Safe asset that seems smart to me but if You're just going back into paper it Kind of feels like you're doing the Opposite of what you were trying to Accomplish a little bit Yeah I Unless someone volunteers why they're Selling we don't typically ask why it's It's A Private Matter yeah yeah for sure You'd be surprised how many people Actually will share though like that Gentleman that said and it was like we Had another person that came in and they
Were buying a house for their daughter Um and you know just you seem to see People going from if they're going for Metals they're usually going into Another sort of investment very rarely You know I would think somebody's Selling just to stay and sit on cash Well one thing I I I'd like to say Because we addressed it a moment ago The paper market like a 401k or Someone's under the age of 59 and a half I'm very I I'm very cautious and I even Will tell people you want to think about That because not only are you taxed on Any gains you've had over the years but If you're under the the age of actually Being able to draw it out legally You're going to be penalized 10 right Off the top yeah so You really got to think about that move Right I mean I certainly wouldn't Recommend cashing out your 401K at a Penalty uh like like for example I have A 401k and I'm just leaving everything In there sure but extra money that I Have in savings and stuff like that it's Basically all going into Metals but We've seen it you know and it's I wish People well with it but I it's I think It's a very It's a very dicey move yeah well you Should be Diversified you should have Money in in several different places not All of it in your 401k not all of it in
Metals that's my opinion and it sounds Like you guys probably agree with that I Do yeah it's never a good idea to have All your eggs in one basket do you feel Like people when they come in the shop They're mostly looking to purchase Silver because I know the gold silver Ratio is fairly high right now it seems Undervalued you mentioned gold was near An all-time high silver is only like Half of its all-time high that's right So do you feel like silver is just more Popular right now or is it kind of a Mixture I mean silver is more accessible to the Average person Everyone likes gold but Many can't afford it so silver is a Viable option and happens to currently Have a lot more upside if you look at Not what pie and the sky numbers are but Really we're we're the where the metals Have actually been before yeah again Gold is 66 off its all-time high and as You pointed out silver is half of its All-time high right so there is some Experience looking at Silver saying you Know that's a bargain and furthermore Um just thinking of one or two of the Comments on the last video from one of Your maybe two of your viewers asked why We didn't talk about platinum or why we Don't have Platinum Yeah we actually Don't get much in here Um and when we do it sells readily but I
Think gold is far more popular just from A visual standpoint you know Platinum Looks like silver yeah but it's 40 times the cost and but gold there's Something I don't know visceral about Gold it's almost like in our DNA to love Gold and um I think just from a visual Standpoint it sells a lot better And just kind of going to their point of Area where Platinum looks like silver we Recently had a gentleman come in he had A bag of silver so it was um silver Dollars a couple silver eagles and there Was a tube of the one Nobles a one ounce Platinum points in there yeah so he was Expecting you know a couple hundred Maybe a thousand dollars and you know There was 10 ounces of platinum in there Wow so he was just mind-blown he was Like are you kidding me there's platinum In there so it's just kind of that point Where it's you like that silvery look at Platinum looks similar but yeah they all Have their own little Essence to them You know yeah it was that was fun to Have Adrian be able to give someone such Great news do you think uh he got it Maybe at like an estate sale or Something or did he mention it was it Was an inheritance from a family member Okay he was kind of going through Everything and just trying to get Organized but if you're not a stacker You know you don't really pay close
Attention you just see oh I've seen Those daughters before it looks like Silver but yeah it was a great surprise For the gentleman well that's a good Thing too he came in here because I know There definitely are some other coin Shops where they would have been like up Yep this is all silver here's your Thousand bucks Like Adrian said I got to be able to Sleep at night and you know what people People ought to be cautious when they've Had an inheritance don't assume what Something is without actually reading The coin yeah because it truly does look Like silver however it's worth a whole Lot more and if you're not careful You'll get silver money for it yeah and That's not right no it's not right and You know I've I've purchased a small bit Of platinum myself and it's heavy it Kind of feels like gold in your hand I Mean if you're familiar with Metals you Can kind of go oh wait this is a lot Heavier than it should be but uh yeah I Mean I would prefer to have an ounce of Gold over an ounce of platinum not for The price point but like you mentioned It just looks better and there's Something almost like I don't know in us That we're just kind of drawn to the Shininess of gold I don't know what it Is but there's something about it I mean People have been seeking it for 5 000
Years starting Wars over it and I don't think it's changed I think it's Gotten more popular yeah well I know the Central banks certainly are buying lots Of gold right now I'm not sure if They're kind of seeing the end of the Dollar is maybe near and they're wanting To put a lot of their wealth into hard Assets and I certainly think individuals Should be doing that if the Central Bank Central banks are buying it that's a Good tip for the rest of us yeah that It's probably something you should have Yeah well I mean that's big money right There big money is moving into gold you Should probably take a look at it yes Um well one uh one last thing I want to Ask you about uh as we're kind of Wrapping up here I notice you have a few Coins which are milk spotted maybe you Could pull one out okay so if we take a Look at this silver coin there's Obviously some fingerprints on it and It's certainly milk spotted that's kind Of why it looks different What would you guys pay for a milk Spotted silver coin versus a non-milk Spotted silver coin is this something People need to be worried about If you come here we don't make a Distinction really and what I say to People is Would you buy this coin and I answer you Know with a little humor I did buy this
Coin yeah and the fact of the matter is It's only important if you the buyer are Bothered by it right because it's still An ounce of silver And so we paid the same price for these As we did for all the shiny ones wow Well that's really good to know because Some coin shops they'll pay less for the Milk spotted they'll kind of treat them Like a silver round so if they were Going to pay a three dollar premium now They'll only pay a one dollar premium But there are coin shops out there like You guys who hey silver silver and Apparently the condition doesn't matter As much well You have to remember the times we're in Two maybe we could get real picky but The truth is this stuff's selling just About regardless of how it looks yeah so People just want it so much it it Doesn't even matter to them if it's Milky not currently and like I mentioned Before if people are looking to uh Purchase some physical silver physical Gold definitely got to come check out uh Harry's coin shop there's a few people That asked where you guys were and it's In Beaverton Oregon so uh we'll show Your card here once again We got the uh we got Adrian's card but Wow it looks like people have been Taking your card Harry out of the cards Too and again another way to reach us as
Well is that through our Instagram Um you know any orders or any questions I mean we're always happy to help great Information thank you very much thank You
