Today the US Mint put the new Morgan silver dollars on sale. They had 350,000 coins available at .858 ounces of silver per coin (about 300,000 ounces of silver). They sold them all out in 25 minutes. The silver in these coins was $100 per ounce based on the Mint price point of $85 per coin.
Added note for clarification. The Mint offered two different versions of these Morgan dollars today with the mintage for each coin at 175,000 coins. So the total combined silver ounces for both coins was 300,000 ounces. One coin honored the old Carson City mint and the other honored the old New Orleans mint.
More added clarification. Some are commenting that this is more indicative of coin collector demand for these specific coins than for silver in general. I'll agree and disagree with that. For sure these coins had significant demand from old time coin collectors regardless of their silver content. But I do believe the added general public awareness of silver in general that WSS has promoted was also a factor in overall demand here. It creates a greater sense of urgency to buy for anyone thinking about buying these coins knowing a surge of new interest in silver is happening. If you wanted one of these new Morgans and are paying any attention to silver demand right now, you knew you had to get in line early to get one of these coins and that you were likely competing with more people to try and buy one.
He labels his upbringing being full of ‘pain and suffering’, yes losing a parent is terrible but he hasn’t felt ‘pain and suffering’ growing up in the royal family. He’s had life so unbelievably easy compared to the common person it annoys me to no end also I genuinely believe everything that’s happening with interviews and stepping down from the royals is one big media money making stunt.
With so many new people here, I just wanted to remind everyone that just 60 ounces puts you in the top 1% of all physical silver holders worldwide. I know a lot of stacks on here can be a bit intimidating so don't let starting out with just a few ounces get you down. Keep stacking and you will join that 1% soon enough!! Were all in this together...
The year is 1271 and a Jewish merchant named Jacob d'Ancona happened to be in Sung China. He had come from the Adriatic port of Ancona, Italy to do business at the Sung coastal metropolis of Zaitun. Called "The City of Measureless trade", Zaitun was known as a place to make great profits.
Yet, in that exact year, the Sung dynasty was experiencing the world's first paper currency collapse.
You see, 200 years earlier the Sung court decided to monopolize a strange new invention created by tea merchants called Fei-Ch'ien or "Flying Money."
Originally, these merchants used it as a way to deposit their large stores of iron cash in one location, take a promissory note hundreds of miles away to another location, and withdraw the commensurate value there. This made it easier and more convenient to travel even with large sums of money.
At first, the Sung Dynasty promised to back every paper note in circulation up with precious metals in their treasury.
100% of the money printed was backed by metals.
Yet, after Minister of Finance Shen Kua had a bright idea in 1077 to print far MORE money to increase circulation, that backing dropped to 29%.
Then it dropped to 0%.
The Sung dynasty believed they had the new, revolutionary ability to meet all of their obligations by simply printing their own currency and forcing everyone in their kingdom to use it by decree.
But something strange began to happen...
The prices of goods and services began to rise incredibly quickly.
It took more and more printed money to pay for the same things.
And by the time Jacob d'Ancona arrived in the city -- the currency had become essentially worthless...
And to top it all off the Mongols were invading -- so now everyone who had stored the value of their labor in the Sung' Dynasty's currency had nothing but useless pieces of paper to show for it and all of society was in utter political turmoil and collapse.
In the medieval manuscript discovered in 1990 titled The City of Light it's chronicled how D'Ancona with just 12 ounces of silver, made his fortune.
In a panic, the Chinese were eagerly seeking and hoarding silver. They knew it would hold value into the future.
Jacob D'Ancona just happened to have a little bit of silver with him.
He was able to purchase the finest silks, satins, and the most beautiful porcelains in the world for a pittan... keep reading on reddit ➡
The raid is coming! I don't know, but this feels like it might be the big one.
What I do know is that 100 ounces is a lot of money. There are a lot of folks here, and people who you'll tell about the raid, who simply can't afford 100 ounces (maybe even if you gave them all year!).
So what to do? Get what you can. Be a part of this raid. Every ounce adds up. Small stackers will, in the end, act as teams and effectively make more "100 oz apes." If 50 apes who can each only afford two ounces do their part, that adds up to another "100 oz ape" buying their part off the market. But if they decided they couldn't make a difference, that 100 ounces stays in the corrupt system, used as ammo against us.
The saying "apes together strong" really applies here. Don't fret about what you can't do. Get out there and do what you can. (Or don't. Your call. I'm not your boss.)
Remember, I'm not your financial advisor, you mom, or your dad. Do what you want. This is not financial advice. My head hurts after my motorcycle accident...
Team, the more we trend, the more apes we get, and the more silver we drain from the market. Once we hit 100K Apes, the next 100K will come in quickly! Keep posting, keep buying physical, and don't forget to upvote!
Couldn't wait until tomorrow FOMO was hitting me hard and prices are trending up. 900 ounces taken off the market at the lowest price I could find
Was originally going to buy some 2021 Maples because I love RCM products but the 2 oz 2020 Kraken's were at an amazing price so I picked them up instead! I will post a pic of my stack once my order arrives!!!
Silver squeeze goes on!!!!!!! 💪 💪 🦍 🦍