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One Billion ounces of silver

SmallTownCoinsSmallTownCoins Posts: 688 ✭✭
in Precious Metals
I read there are 1 Billion ounces of Silver above ground in the World..
That suggests that someone with 21 Billion dollars could own it all...
So where is the next Bunker Hunt ?
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Comments

  • dontippetdontippet Posts: 2,606 ✭✭✭✭
    That seems quite low. 1,268,476,875 1964 quarters were made. That is 1.27 billion quarters which equates to 226.7 million ounces by itself. Since most of these quarters are still around or were melted down, I highly doubt if the 1964 quarter accounts for 23% of all silver.

    Edited to add that the 1964 Kennedy half accounts for 155 million ounces.
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  • BAJJERFANBAJJERFAN Posts: 31,082 ✭✭✭✭✭
    At 54,000 pounds to a load, it would take 3,375 semi trucks to move that much. At 60 feet each in length and touching each other, the convoy would be 38.35 miles long.
    theknowitalltroll;
  • rickoricko Posts: 98,724 ✭✭✭✭✭
    That is a bunch of silver.... but just look at jewelry store counters, trade shows etc........ I would say perhaps the estimate is low...Cheers, RickO
  • guitarwesguitarwes Posts: 9,266 ✭✭✭


    << <i>At 54,000 pounds to a load, it would take 3,375 semi trucks to move that much. At 60 feet each in length and touching each other, the convoy would be 38.35 miles long. >>



    But how long would it take for the first and the last one to get from New York to Chicago going 40 miles per hour???
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  • cohodkcohodk Posts: 19,132 ✭✭✭✭✭


    << <i>At 54,000 pounds to a load, it would take 3,375 semi trucks to move that much. At 60 feet each in length and touching each other, the convoy would be 38.35 miles long. >>



    And therein is the problem with silver.
    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • SmallTownCoinsSmallTownCoins Posts: 688 ✭✭
    yep, my mess up, going by what a customer said, google is my friend :-)
    Support your local Coin Shop
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  • guitarwesguitarwes Posts: 9,266 ✭✭✭


    << <i>

    << <i>At 54,000 pounds to a load, it would take 3,375 semi trucks to move that much. At 60 feet each in length and touching each other, the convoy would be 38.35 miles long. >>



    And therein is the problem with silver. >>


    But it's soooooo purdy.
    @ Elite CNC Routing & Woodworks on Facebook. Check out my work.
    Too many positive BST transactions with too many members to list.
  • SmallTownCoinsSmallTownCoins Posts: 688 ✭✭
    and here I was planning on making the market move for you guys,
    but anything over 1 billion ounces, I can't handle image
    Support your local Coin Shop
    LM-ANA3242-CSNS308-MSNS226-ICTA
  • derrybderryb Posts: 36,824 ✭✭✭✭✭


    << <i>

    << <i>At 54,000 pounds to a load, it would take 3,375 semi trucks to move that much. At 60 feet each in length and touching each other, the convoy would be 38.35 miles long. >>



    And therein is the problem with silver. >>


    The only problem with silver is the extremely massive leveraged silver paper promises (estimated in excess of 200 to 1) that for now determine price of the real stuff. When the run on those paper promises begins, silver will have no problems except for physical availability. image

    "Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey

  • rawteam1rawteam1 Posts: 2,472 ✭✭✭


    << <i>

    << <i>

    << <i>At 54,000 pounds to a load, it would take 3,375 semi trucks to move that much. At 60 feet each in length and touching each other, the convoy would be 38.35 miles long. >>



    And therein is the problem with silver. >>


    The only problem with silver is the extremely massive leveraged silver paper promises (estimated in excess of 200 to 1) that for now determine price of the real stuff. When the run on those paper promises begins, silver will have no problems except for physical availability. image >>


    what does "leveraged" promises mean? people are trading to make $$$ not get physical silver... the real price of silver is what it is...
    case in point, are u taking delivery on these?
    VXX when the market begins its decline
    TBT when bonds begin their decline
    USLV/DSLV for silver ups and downs
    USO if oil starts to go parabolic
    keceph `anah
  • BAJJERFANBAJJERFAN Posts: 31,082 ✭✭✭✭✭


    << <i>

    << <i>At 54,000 pounds to a load, it would take 3,375 semi trucks to move that much. At 60 feet each in length and touching each other, the convoy would be 38.35 miles long. >>



    But how long would it take for the first and the last one to get from New York to Chicago going 40 miles per hour??? >>



    20 hours
    theknowitalltroll;
  • piecesofmepiecesofme Posts: 6,669 ✭✭✭
    Just send all the poured 3 & 5 oz Engelhards my way. The rest of you can divy up the rest. See, I'm not greedy. image
    To forgive is to free a prisoner, and to discover that prisoner was you.
  • derrybderryb Posts: 36,824 ✭✭✭✭✭


    << <i>

    << <i>

    << <i>

    << <i>At 54,000 pounds to a load, it would take 3,375 semi trucks to move that much. At 60 feet each in length and touching each other, the convoy would be 38.35 miles long. >>



    And therein is the problem with silver. >>


    The only problem with silver is the extremely massive leveraged silver paper promises (estimated in excess of 200 to 1) that for now determine price of the real stuff. When the run on those paper promises begins, silver will have no problems except for physical availability. image >>


    what does "leveraged" promises mean? people are trading to make $$$ not get physical silver... the real price of silver is what it is...
    case in point, are u taking delivery on these?
    VXX when the market begins its decline
    TBT when bonds begin their decline
    USLV/DSLV for silver ups and downs
    USO if oil starts to go parabolic >>


    Leveraged promises on silver take the form of futures contracts where promises of physical delivery far outweigh what is available to deliver. The ETFs mentioned are derivative bets backed by nothing more than the ability of their respective fund managers' ability to honor the bet. There is a difference between the two and if you can't see it you just can't see it. While many COMEX players are trading there to make $$$ and not get physical silver, the promises made are still backed by physical silver that does not exist. The only difference between this and an ebay seller who lists silver eagles he does not have is that the ebayer's fraud will quickly surface. If COMEX delivery requests spike, the COMEX's fraud will surface.

    The real price of silver is what buyers will pay for it. The pricing mechanism for silver (and gold) is based on a supply of metal that does not exist (the futures market). By controlling the ficticious supply (the leveraged contracts) the big COMEX players, such as JP Morgan, are able to control the metal price. It will take a demand for COMEX physical delivery that exceeds its available physical supply to expose the fraud and skyrocket metal prices. To date, COMEX has succeeded in convincing delivery requests that cannot be met to accept cash settlement. Those peeking behind the COMEX curtain understand that the emporer has no clothes. When the curtain is pulled open everyone will know and the prices for physical metal will be determined by actual market supply.
    Wanna guess what that will do to prices?


    "Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey

  • rawteam1rawteam1 Posts: 2,472 ✭✭✭
    so same as
    oj
    cattle
    bellies
    soybeans
    corn
    wheat
    coffee
    sugar
    gas
    and a host of others....
    keceph `anah
  • derrybderryb Posts: 36,824 ✭✭✭✭✭


    << <i>so same as
    oj
    cattle
    bellies
    soybeans
    corn
    wheat
    coffee
    sugar
    gas
    and a host of others.... >>


    Correct, futures markets can be and are used to control (stabilize is the term the big players like to use) the price of any commodity. Commodity producers use the futures market to keep prices from falling too far while those with an interest in dollar strength use their "agents" in the futures market to keep metal prices from rising too far. Consider futures prices "stabilized" if "manipulated" is too big a word.

    "Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey

  • cohodkcohodk Posts: 19,132 ✭✭✭✭✭


    << <i>

    << <i>

    << <i>At 54,000 pounds to a load, it would take 3,375 semi trucks to move that much. At 60 feet each in length and touching each other, the convoy would be 38.35 miles long. >>



    And therein is the problem with silver. >>


    The only problem with silver is the extremely massive leveraged silver paper promises (estimated in excess of 200 to 1) that for now determine price of the real stuff. When the run on those paper promises begins, silver will have no problems except for physical availability. image >>




    And if there is no "run"?

    And maybe silver would be a lot lower if not for the ability to trade the paper version?
    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • dbcoindbcoin Posts: 2,200 ✭✭
    About 700M oz are mined every year. So how can there only be 1B oz's? You read wrong
  • derrybderryb Posts: 36,824 ✭✭✭✭✭


    << <i>And maybe silver would be a lot lower if not for the ability to trade the paper version? >>


    sounds like you're coming around on the price manipulation.

    "Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey

  • tneigtneig Posts: 1,505 ✭✭✭
    There is about as much silver as there is salt and diamonds. I don't think its so rare. All 3 have a market that is controlled.

    If the price of silver went back down below $10, it would be cheaper for the industry to buy silver bullion and coins, then mine it?

    COA
  • derrybderryb Posts: 36,824 ✭✭✭✭✭


    << <i>There is about as much silver as there is salt and diamonds. I don't think its so rare. All 3 have a market that is controlled.

    If the price of silver went back down below $10, it would be cheaper for the industry to buy silver bullion and coins, then mine it? >>


    Silver mines/producers have an interest in keeping prices up and do their "lobbying" on the futures market. Shame they have to butt heads with the bigger and more powerfull JPM.

    "Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey

  • cohodkcohodk Posts: 19,132 ✭✭✭✭✭


    << <i>

    << <i>And maybe silver would be a lot lower if not for the ability to trade the paper version? >>


    sounds like you're coming around on the price manipulation. >>



    Not in the devious and nefarious ways you believe. I think physical follows the paper price. Since investors can easily trade the paper, the price is more likely to be higher than otherwise because silver is now "available". If they only way investors could trade was via physical, then I believe there would be very little interest. Paper took silver to $50, not demand for physical. And paper could even be supporting the price at $20. Silver could even be much lower if not for paper. Physical bulls should be happy for the paper market.
    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • Downtown1974Downtown1974 Posts: 6,796 ✭✭✭✭✭
    SilverBaron has that much just in ASEs.

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  • rawteam1rawteam1 Posts: 2,472 ✭✭✭
    It's simple, as demand has never exceeded any paper contract 1 to 1 or 50000 to 1,
    Just like oj, corn, and all others I listed, they trade via paper, few take delivery of any commodity, so they all must be in deficit and fake priced,
    Without the introduction of the etf and other paper vehicles, silver would still be under 10 prolly at $5...
    The paper brought the demand... Comprende?...lol... No paper no demand...
    keceph `anah
  • PeacePeoplePeacePeople Posts: 106 ✭✭
    What if there is really 14B ounces and not the 1B that all the dreamers state?
    Nevermind...
  • derrybderryb Posts: 36,824 ✭✭✭✭✭


    << <i>It's simple, as demand has never exceeded any paper contract 1 to 1 or 50000 to 1,
    Just like oj, corn, and all others I listed, they trade via paper, few take delivery of any commodity, so they all must be in deficit and fake priced,
    Without the introduction of the etf and other paper vehicles, silver would still be under 10 prolly at $5...
    The paper brought the demand... Comprende?...lol... No paper no demand... >>


    My belief is that PM ETFs have restrained the price. Under the current pricing mechanism physical metal is being priced by speculators not investors.

    "Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey

  • rawteam1rawteam1 Posts: 2,472 ✭✭✭


    << <i>

    << <i>It's simple, as demand has never exceeded any paper contract 1 to 1 or 50000 to 1,
    Just like oj, corn, and all others I listed, they trade via paper, few take delivery of any commodity, so they all must be in deficit and fake priced,
    Without the introduction of the etf and other paper vehicles, silver would still be under 10 prolly at $5...
    The paper brought the demand... Comprende?...lol... No paper no demand... >>


    My belief is that PM ETFs have restrained the price. Under the current pricing mechanism physical metal is being priced by speculators not investors. >>


    we can agree to disagree, to me its quite obvious, the etf although a paper vehicle to the investor, the etf itself was a huge phyzz buyer, when there were no other phyzz buyers around that huge ever...

    keceph `anah
  • rawteam1rawteam1 Posts: 2,472 ✭✭✭


    << <i>What if there is really 14B ounces and not the 1B that all the dreamers state? >>


    i think common sense would dictate that amount or above, the "fake" demand of investors is really not a dire demand and to be counted as a non recoverable item is ridiculous...
    keceph `anah
  • PeacePeoplePeacePeople Posts: 106 ✭✭


    << <i>

    << <i>What if there is really 14B ounces and not the 1B that all the dreamers state? >>


    i think common sense would dictate that amount or above, the "fake" demand of investors is really not a dire demand and to be counted as a non recoverable item is ridiculous... >>



    There is no way that it's not recoverable...people will sell, but they have to get a real return to give up their physical holdings...especially the people that have been buying and holding, or sorting and holding or recovering and holding since who knows when...I'm sure there is a percentage of them that sold in 80, only because they couldn't pass on the return, then just bought back in when it took a dump. You're correct though, just because you don't know where it is for sure doesn't mean it doesn't count.
    Nevermind...
  • ksammutksammut Posts: 1,074 ✭✭✭
    Approximately 50 billion ounces of silver have been mined throughout history with most of it being mined in the last 200 years. The question becomes how much was lost, how much has been used for industrial applications, and how much was used in making jewelry and silverware (not sterling) that would not be worth the cost of recovering.

    At this point, it would purely be a guess on how much silver remains above ground. My guess is between 20 and 25 billion ounces spread around the world. Some of that would never reach the melting pot no matter what the price of silver would move up to.

    Not sure why some stick to the 1 billion ounces of above ground silver. All you have to do is add up how many ounces of silver have gone into coin production over the past 10 years or so and you would already be at 1 billion ounces. Jewelry would be twice that amount.

    Even at 25 billion ounces, that is a relatively small amount of silver. If industry demand of silver continues to pick up and less mining is done, the present supply of silver will be reduced causing prices to rise.
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  • rawteam1rawteam1 Posts: 2,472 ✭✭✭
    Ahhh a billion is a year n a half not 10 years...
    keceph `anah
  • rawteam1rawteam1 Posts: 2,472 ✭✭✭


    << <i>

    << <i>It's simple, as demand has never exceeded any paper contract 1 to 1 or 50000 to 1,
    Just like oj, corn, and all others I listed, they trade via paper, few take delivery of any commodity, so they all must be in deficit and fake priced,
    Without the introduction of the etf and other paper vehicles, silver would still be under 10 prolly at $5...
    The paper brought the demand... Comprende?...lol... No paper no demand... >>


    Paper, paper, paper,...

    arguing paper derivatives & paper currency vs. one of the most valuable/useful/unique elements in the world....

    Cheers, >>


    When one doesn't understand how the or a market works, it could be detrimental to any success that they may have, and there are no people waiting in line to get there 1000 oz silver bars and having a count down til there are no more bars left...

    Lol, just the thought of it is comical...
    keceph `anah
  • derrybderryb Posts: 36,824 ✭✭✭✭✭


    << <i>When one doesn't understand how the or a market works, it could be detrimental to any success that they may have, and there are no people waiting in line to get there 1000 oz silver bars and having a count down til there are no more bars left...

    Lol, just the thought of it is comical... >>


    Buy 'em while you can. Discount prices at that. image

    "Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey

  • tneigtneig Posts: 1,505 ✭✭✭
    If you can use money to invest in something, how come you can't use gold or silver to invest in something. Oh Wait, Germany tried that. Nevermind.

    You can stash money in the form of currency and coinage, but the cost is high, its bulkly, people want to steal it, and you'll likely lose some of it. (like the stock market)

    You can invest in IRAs, stocks and mutual fund and such, but ever try taking out $500k+ all in one shot into physical money? Try it and see who follows you home. More likely uncle sam then a robber. Same thing though, when you think about it. Come on.

    Just think of the nightmare of storage if you had 1 billion ounces of silver. You could exchange it for 16.5 million ounces of gold and that would be nicer. I could live with that.

    Just think if you had no money to buy or own PMs at all....
    Shut up and buy some!
    COA
  • derrybderryb Posts: 36,824 ✭✭✭✭✭


    << <i>If you can use money to invest in something, how come you can't use gold or silver to invest in something. >>


    You can. Invest in dollars knowing that your gold or silver will bring you a whole lot more dollars later.

    "Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey

  • rawteam1rawteam1 Posts: 2,472 ✭✭✭
    One has alot of gold then one invests in countries n governments...
    One has alot of coin n currency invests in nfl n nba franchises...
    keceph `anah
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