So I made a video on what I did after Selling my monster box of these guys Silver eagles a few silver bars as well Now the question is will I buy more Maybe Probably But not like I did before [Music] So what are we looking at here it's a Small stack of silver big surprise it's Mostly American silver eagles but I Threw in a few other random things maybe I'll compare premiums partly that's just To make this stack look a little bit Nicer and I don't mean this in any kind Of metaphorical way with these silver Eagles they've just kind of lost their Luster I don't know what's going on but The new Eagles I bought they all seem Milky you compare that To these Perth Mint coins these things Just look amazing you have to wonder why The U.S mint can't do the same it's not Really the point of this video though if I want 100 ounces of silver bullion and I got to pick its form I would still go With American silver eagles all day Regardless of how they look Now here's the problem premium on American silver eagles right now is About 60 percent and up it wasn't that Long ago that we were seeing 100 Premiums it's just crazy right now you Pay 38 to 40 dollars for an ounce of
Silver when spot price is 24 so if I Want to Stack what I consider to be the Most useful form of physical silver and That's American silver eagles in the U.S I have to pay way too much premium to do It 60 premium thereabout maybe more that Takes the logic out of it and just to Back up for a minute the reason that I'm Talking about silver is to catch up on About two years of questions in 2020 I Posted a video when I officially stopped Buying silver eagles another when I Stopped buying silver bullion all Together and the reason was premiums They were just out of control in most Cases it had gotten cheaper to buy Smaller and smaller fractional gold than It was to buy silver and really any form At all and since then I sold off most of My physical silver and just recently Gave a recap on what I did with capital From a few of those sales I'll link to That one in the description but the Short version is that I moved it into Gold by way of an outside investment or Two some will say that's a gamble rather Than an investment but at the time it Seemed like an easy win I've also said Along the way that I would buy back in When I could get silver for twenty Dollars all in for an ounce and I Mentioned that I would probably start Buying when silver hit the teens again Regardless of those premiums and I got
Some I got some feedback about how that Would never happen but it did I grabbed A few 10 ounce bars on sale I've picked Up some American silver eagles again as You can see here But even though spot dropped it really Hasn't done much for the entry price of Silver still very expensive to get back In Now as for the potential upside of Silver there's a standard industrial use That's slowed down over the last few Years during the lockdowns and I made That point a few times this is the Reason that I sold a lot of the silver To the Moon crowd they were calling for Spikes and silver price based on what They saw as retail demand people thought Economic chaos was the Goldilocks Environment for silver some even said We'd be bartering with this stuff for Basic needs but the bigger driver for Silver has always been industrial demand And a lot of that again that went Offline with lockdown so silver is a Commodity had huge headwinds at the time Of those silver squeeze movements when People were saying that it was only Tailwind and it was only going up from Here I've always thought Silver has Potential but the market is way too Large to be manipulated by a small Squad Of retail silver stackers it has a 1.3 Trillion dollar market cap so scheduled
Silver rates they aren't going to move That needle and that's why I wasn't Concerned about selling my silver when So many people were saying that it was About to lift off we didn't have the Industrial demand to support that Okay so fast forward to 2023. I've had a Few conversations with people that I Trust saying they see this as a Potential big year for silver I've Mentioned that a few times and they made A strong enough case that actually Started shopping for some again and two Things have stood out for me the first Is that premiums are still crazy high And the second is that silver just Doesn't scale well that's only my Opinion there are a lot of people who Don't care about that but 500 ounces Weighs about 35 pounds so selling silver Anywhere other than to a local shop is Going to be difficult because of its Bulk I compare that to Gold I can stack The same value as a 35 pound Monster Box Of silver with six ounces of gold So the question I get on repeat is why Don't you talk about silver more and It's pretty much my answer first I sold Most of it and then second I just feel Like it's too expensive to get in Finally I don't feel like it scales well And then also these damn Eagles are Milky Kidding about that last part the longer
Answer though is that I still watch Silver and I've moved some of my silver Interest into derivative markets I know If you don't hold it you don't own it But I can tell you I definitely own it I'm gonna make any profits on it and I'm Gonna make them more easily and then on Top of that I won't have to be paying The premiums to buy it by derivatives I Mean two things I can add to my ETF Positions or I can buy shares in a Silver producing company and then buy a Little bit of physical silver to take Care of the itch and that's mostly what I'm doing with my 70 ounces or so of Physical silver that I have I have a sponsor for this segment and It's one that has a lot of excitement Around it a lot more than I've seen in Quite a while the company is Dolly vard And silver and I'm going to run down Some reasons why they could be a big Deal the quick idea here is that this is A pure silver play you're looking at an Early stage silver Explorer sitting on a Discovery in British Columbia in the Golden Triangle a company that's very Much affected by the increasing spot Price of silver but also one that Leverages demand in a way that retail Physical silver like these silver eagles Just can't Now when this company was introduced to Me I was told that it was by far the
Best Silver company that the person was Familiar with and that was from an Investment lens they would own no Physical silver no ounces of silver they Would just own shares of Dolly Varden if They had the choice and that stood out To me because people normally say you Should own both I keep hearing we're moving into a Commodities bull cycle and a lot of People will tell you they think silver Is the most undervalued commodity in the Whole group and the reason that I don't Cover it here from a stacking Perspective much is all the reasons that I gave before physical silver though is Almost priced out to me now maybe that Doesn't matter to you you either like Physical silver regardless of Premium or You don't but looking at the coming Industrial demand what I'm talking about Here is just a matter of whether or not It's undervaluated how many silver Producers there are to meet that coming Demand to that point There really aren't a lot of pure silver Producers if you want to find those Silver Mines you're probably looking in Latin America and if you want to find a Pre-production silver mine to invest in You're looking at risky jurisdictions Now Dolly Varden there in Canada's Golden Triangle they're right next to Ekla the largest silver producer in the
United States in Canada now ekla they Currently own a 10 stake in Dolly vard And that's important and if you look a Little bit further you have Eric Sprott He's personally in for 10 of the company Shares as well so you can start to see Where the excitement comes in since Dolly Varden is pre-production and They're in a great jurisdiction it makes Them a clear acquisition Target let me Get the capitalization chart up you can Also see here a seven percent retail Slice that's from the Fidelity Fund it's Extremely rare to see someone like Fidelity in on a pre-production silver Company but even with that current Attention this is still an early play They've just verified drill results so It's one that could still rally pretty Hard and to get a sense of the company Value you typically look at the Resources and Dolly Varden has about 140 Million ounces of silver that's verified By a third party you divide that by Their current market cap and you're Looking at about a dollar per ounce now You can't quite compare that to the 24 Spot price of silver but the industry Average would be about two dollars and Fifty cents per ounce for a fair Valuation so they have a ways to go and By the way they also have a million Ounces of gold and maybe you spotted That single gold coin there
Well that was supposed to remind me that This is a company that will actually be Producing gold as a byproduct rather Than the other way around If you look at the last five months Silver's been on a pretty decent run it Gained about 25 percent in that same Period of time Dolly varden's share Price has gone up 130 so it's a good Example of the leverage that's possible Here and if we back up to their current Valuation versus mineral resources They're currently at a 60 discount Industry average so they can go up 150 Percent just to hit that average and This is a company adjacent to the Golden Triangle the richest gold land in the World and all of these numbers that I've Been throwing out well that doesn't take Into account the potential for increased Demand in silver going forward I kind of buried that last part but I Don't really feel like this is a group Of people who need to hear that silver Is currently undervalued I think that Seems pretty clear to most of us here so I'll skip the deglobalization the shake Up around Russia I'll just say that if You like silver but you don't like Silver's premiums there are other ways To speculate on those potential gains And I'm not qualified to pick stocks You'll need to do your own research make Your own decisions but there's a lot of
Excitement around Dolly Varden more than I've seen in a long time so I would say That this is a really good one to look Into So that's where I'm at I could see the Upside of silver but to me personally I Don't see a practical way to stock up on Physical without paying extremely high Premiums or requiring a forklift at some Point I guess maybe that makes it harder To steal but I do like small amounts of Physical silver for a few reasons but if I want to store wealth of any Significant size well gold is just a lot More manageable way to do it and if I Want to be in on the speculation side of Silver well there are stocks that I can Get into And that should cover it so let us know What you think about stacking silver Hardcore does it make sense or is it Something more for divisibility or even For fun maybe something else entirely Let us know and then while you're in the Comments be sure to hit that like button If you found any of this interesting be Sure you're subscribed with Notifications turned on if you'd like to See more on the topic and if you're Still here thanks again for watching I Always appreciate your time Take care Thank you Thank you
