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Anyone here stacking silver or other precious metals?
godawgst
Member, Swaye's Wigwam Posts: 2,523 
Reddit wall street silver has a group chap going on saying how much silver is being bought and pulled off the market by individuals (called stacking)
My dad's father in law every week beginning in the 70's would buy a small amount of gold and put it in his safe unbeknown to his wife and daughters.
When he passed away in the early 2010's he had amassed over $100,000 worth of it.
I have GLD as my exposure to it, but my dad has recently been doing it with silver since 2016.
One thing in doing so, he is not exposed to any capital gains taxes when he goes to sell, as long as he stays under the 10k amount where the transaction with his local coin shop buyer has to be legit documented.
My dad's father in law every week beginning in the 70's would buy a small amount of gold and put it in his safe unbeknown to his wife and daughters.
When he passed away in the early 2010's he had amassed over $100,000 worth of it.
I have GLD as my exposure to it, but my dad has recently been doing it with silver since 2016.
One thing in doing so, he is not exposed to any capital gains taxes when he goes to sell, as long as he stays under the 10k amount where the transaction with his local coin shop buyer has to be legit documented.
Comments
So I shift the load around so I'm kind of stacking them on top of each other and struggle into the other room, plop the drawers down, and got a good laugh when I saw what was going on: Her dad's been giving us a small load of silver coins and small bullion every holiday for the last several years, and she's been just stuffing it in the sock drawer. I had forgotten all about it at that point. Laughed even harder when remembering just that same day I read about @Swaye's sock drawer stash.
Stacking is physical.
Maybe we should start a doog comex delivery podcast
Side note 1: I had a nice surprise in about 2011 when I found a handful of Krugerrands I was paid with one summer when I was a kid a decade plus before. Did some yard work for an old man that summer, never once got molested, but was a bit disappointed he gave me foreign coins. I remember checking the price of those every week for a month and then I forgot about them, only to discover them at the perfect time when cleaning.
Side note 2: I use cash almost every day, so I get a lot of loose change back. Since the pandemic started I’ve gotten a ton of >1963 coinage. Like half of a mason jar worth. Not for a while now, but still curious how those made it back into circulation.
Paper slv is down/flat in that time frame. Know spot price is out of site ($4/$5 over) versus the normal $1.50 premium it normally trades at, but the coin dealers are having incredible difficulty finding supplies to sell.
Where do you think a oz. of silver settles and sells at when this is all done?
Basically, there is wayyy more gold above and below ground than statistics say there is.
Gold charlatans would have you believe that we’ve extracted most of it, or reached peak gold, and that’s the opposite of reality - it’s an iceberg. Production numbers for on the book projects are vastly underreported. There are a lot of projects that began a decade ago during the boom which will begin to yield.
Makes sense.
Most of the 'reported' gold will never be mined. CAPEX way too high and many of these billion dollar resources are so fucking remote that getting a mine constructed would be impossible. The game is to 'prove up' a resource, then shuffle the claims/project off to the next guy higher up the food chain. Meanwhile the guys lower on the food chain raise just enough money to pay themselves a nice little salary every year in the hopes that their project is the next big thing. The gold charlatans know the gold bugs are just gullible enough that just one more investment will be the big payday/motherlode.
Anything out of BC follows that scam. You're probably chasing a pump and dump with those fellas.
Mining gold is not like the guys you see on Discovery channel with bailing wire and duct tape trying to get a few nuggets. Legitimate mines cost tens of millions of dollars to construct and the lead time to get through permitting/environmental/archaelogical, all sorts of shit.
There is an actual shortage of physical gold. The squeeze will come in silver first simply because of the industrial uses like electric vehicles and lithium battery storage.
@RatherBeBrewing is correct in that some projects will start to move toward production/yield again - but that's a slow road and there's hundreds of millions of ounces that will never see the light of day for the reasons above.
Instead, here is a giant ass truck used for mining. The BelAZ 75710.
BelAZ stands for Belarusskiy Avtomobilniy Zavod, the Belarusian Automobile Factory. Belarus is the only country to officially ban me, fuckers put a giant stamp in my passport and everything. The last time I sent in my passport for a rush renewal it wasn’t fun. The State Department wants to know nosy things like “why” and how come your passport was flagged as lost and returned to the US embassy in a different country the year after that. You get the random special TSA and immigration screening when coming back to the US every time.
This fucking truck is nearly 70 feet long and half as wide, weighs 400 tons and can haul 500 tons more. I had to procure tires for this bad boy, it’s about $1.5 mil for two sets of six. You have to be vigilant with making sure they don’t explode when on the truck, because one could literally kill people nearby with the force. I never have got to see one, but I did see backhoe that was almost fat enough to be offered a scholarship by Mario Cristobal. Here’s some scale:
It went to a gold mine in Siberia. It wasn’t a regular GULAG, it was the GULAG for those who were too dangerous to send to the regular jolly ones, and they considered it the last circle of hell. In the winter it’s one of the coldest places on Earth. Summer is muggy, and mosquitoes are the size of scrub jays. This mine operates 24/7 for 364 days per year, with New Years off. Laborers come from China, the Stans, Russia, and some Canadians, Australians, Germans, Americans, whatever to oversee the technical aspects. I forget the terms but I think something like 6 months at a time, and you can’t exactly leave early because the nearest road may be a time zone away.
It’s very expensive to operate, as you can imagine. Just the isolation alone is mind boggling. One of the most expensive mines in the world, labor costs are lower than the more developed countries and that’s its saving grace. Just the vehicles that have tires come from seven different countries, require triplicate backup parts, specialized mechanics who can keep them operating in the most extreme conditions, and an ungodly amount of fuel.
Where the point of all of this? I know what their production price was per oz. Gold doesn’t really cost what it costs. Some Czech billionaire doesn’t want you or some poor schmuck buying dowry gold in India to know there’s like 10x more than you think there is because then you’ll want to pay less for it.