Thursday Conversation - Josh Phair, CEO of Scottsdale Mint

"There is no silver grain in existence in the U.S. at this moment".

101

With the ongoing #SilverSqueeze movement exhausting all available supply of physical silver, I figured that it was time to check in with Josh Phair of Scottsdale Mint. As a major producer of blanks, rounds and bars, who better to explain the situation on the ground than Josh? So please take some time to give this podcast a thorough listen.

I've known Josh for years as Scottsdale was the minter of the original TFMR rounds a few years back. He's trustworthy, honest and straightforward. Over the course of this call, I asked Josh to address several key issues currently impacting the silver market.

  • where Scottsdale sources their silver
  • how the spot market operates with the futures market
  • the lack of readily-available silver at this moment
  • extreme premiums currently paid to secure physical silver in short order
  • whether physical demand can force a change to the pricing scheme

Please be sure to listen to this full podcast and then consider forwarding it to Twitter, Reddit and other places where silver investors congregate. You should also be sure to bookmark the Scottsdale Mint homepage and keep them in mind whenever you're in the market to add to your stack of physical metal.

Many thanks to Josh for sharing his valuable time with us. I'm certain you'll enjoy this podcast.

TF

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AGXIIKBobby Plissken
Feb 21, 2021 - 9:00pm

No worries Bobby

I get bent all the time and about everything there is to get bent about. Like the stranger said on The Big Lebowski

Sometimes you eat the bear

Sometimes it eats you'

Bobby PlisskenAGXIIK
Feb 21, 2021 - 4:42pm

Not upset, just venting

Also, I may have drank too much that day. I should have worded things in a more sober and kinder manner. I had just looked at XAUBTC chart and while I was elated at my gains, I feel bad for those who are not as fortunate as you, losing money consistently, waiting for bankers to take their foot off of the brakes in gold/silver markets.

Yes, boomers are very fortunate with their 7 digit portfolios, must be nice. The richest generation in the history of Western Civilization. Too bad they committed so many turnovers that the game is lost.

Wait, maybe I am upset after all

good day

Bobby Plisskenallenb
Feb 21, 2021 - 4:34pm

well...

I may have had too much to drink that evening. I could have stated things differently. I can't find the rewind button so I will not get a do-over.

My general resentment for boomers may have mixed too well with the whiskey, juxtaposed by my profits in BTC relative to delving into trading the PM markets in the past.

I may be an imbecile, but I think I was mainly too drunk. I do apologize for that. Hopefully well received? Either way, have a great day

goldcom
Feb 19, 2021 - 4:21pm

Today's worst performers

Except for a few juniors that got hammered toward the end of today Kirkland and Franco were down most for me today. I remember last summer Turd pointed out Kirkland was on a trajectory to go to $70 and now it's almost half of that. Then there is Franco, perhaps the most lauded operation of all PM companies which got as high as $166 last summer now at $111 and you know both these companies are banking it big time and here we sit.

One good thing at this price Kirkland has been buying stock back and will pickup more shares at this ridiculous price. Whatever, naked shorting in the sector is the story of these days which will be historic some day when fundamentals mean something again. So sit tight and be right, the storm will end soon I hope.

KGKG
Feb 19, 2021 - 10:53am

WSB:WSS Ratio

Presently at 9.2M Degenerates compared to 28.2K Silverbacks. Update since writing this: 29.2k.

In a few minutes, that went from 326:1 to 315:1.

I'd sure like to see that number adjust down and have that many more youngsters get in.

PoundWize
Feb 19, 2021 - 10:47am
Stevediva
Feb 19, 2021 - 10:32am
DeaconBenjaminvonburpenstein
Feb 19, 2021 - 10:32am

It's legal to melt

1942-77 Canadian pennies. 99.5% copper, worth 2.79 cents each in copper. Also 1955-81 Canadian nickels are worth 8.65 cents.

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AGXIIKBobby Plissken
Feb 19, 2021 - 10:31am

Bobby You seem a little upset this AM

The fact that Bitcoin will boom this year might not interest us goofy boomers. All of us have our preferences. Those preferences stem from out observation of what is happening in the world today. All asset classes have their ups and down and boomers have seen several of these cycles.

Each of us chooses to accept the risk and rewards based on our life experience, whether we go with hard assets or soft. We can take a flyer at Bitcoin or set down stakes in investor properties, value or growth stocks, exotics like ETFs, derivatives and option trades.

If I chose to ignore BTC but am avid in my purchase of gold and silver, both of which have a 20 year return in the 600-700% range,much better than stocks during that same period, then so be it. Silver in the last 12 months has risen trough to peak around 100%, $14 to $27 in total.

Goofy Boomers? Yep.

We might seem goofy in our choices, but most of us older investors have a more balanced perspective POV than the fast action class. We might think the younger investors are unwise, imprudent and given to chasing asset classes like a dog chases cars; a useless and unproductive activity

We're wealthier, more experienced and often smarter than the millennials, Gen X and Y due to 5 decades of accumulated wisdom, a better and higher quality education, seen how various assets perform over a half a century or more. We prefer to see RETURN OF our capital rather than RETURN ON our capital.

Most of us do not have the time left on our clocks to repair a total and complete fuck over on our accumulated asset base chasing something as ephemeral as cryptos.

I have a mid 7 figure net worth, accumulated and saved over the decades and while I won't lump the rest of the boomer class into my opinions I'd say most of us boomers would prefer to retain our capital, see a decent ROI and not risk even a small percentage on vaporware like Bitcoin.

vonburpensteinTF
Feb 19, 2021 - 10:16am

Save your...

...82 and older pennies

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