➡ The article is about a conversation with Brian Kuzmar, the owner of Commercial Rare Coins and Precious Metals. Brian’s father started collecting and selling rare coins in the 1960s to supplement his income. He would cash his paycheck, buy silver coins, and then sell them for a profit. Brian followed in his father’s footsteps and has observed different trends in the gold and silver markets over the years.
➡ The speaker discusses the changes in the gold and silver market over the years. They note that there’s less gold and silver coming in now compared to 2011-2012, possibly because fewer people own these metals today. They also mention that despite high prices, they’re not seeing as many buyers as before. The speaker suggests that the demand for gold and silver might be more from industries than individual buyers, and that the market is much smaller than it appears.
➡ The text discusses the current state of the silver market, highlighting a bottleneck in production due to high demand and limited supply. It also touches on the concept of ‘stacking’ or investing in precious metals like silver and gold as a form of wealth preservation. The text further explores the role of central banks in gold accumulation and the distinction between bullion and numismatic markets. Lastly, it emphasizes that investing in collectibles, such as numismatic coins, is not a reliable method for wealth accumulation unless one is already wealthy.
➡ The text discusses the pros and cons of investing in collectible coins, or numismatics. It suggests that while some people can make money from this, it’s usually those who have a genuine interest in the hobby and are willing to learn about it. The text warns against buying numismatic coins purely for investment purposes, as this often results in a loss. It also touches on the idea that investing in gold and silver can be a safer option, but emphasizes that any investment should be based on interest and knowledge, not just potential profit.
➡ The discussion revolves around the idea that most Americans invest in real estate, 401ks, and company pension plans. However, if the dollar weakens, these investments could lose purchasing power. In such a scenario, the value of gold and silver could increase as they absorb the lost purchasing power from other investments. The speaker also mentions that he owns a store where he buys and sells coins, bars, precious metals, jewelry, and artwork.

He would cash his entire paycheck. I don’t know what it was at the time. Wasn’t probably a couple hundred dollars, two or three hundred on Friday and ask it all in change. And him and my mother on Saturday nights would sit there and sort through it all and pull out all the silver coins. We shall remunerate with metallic tinder discovery. Hey, guys, Raf here from the End Game investor and I am in Fort Lauderdale at Commercial Rare Coins and Precious Metals with owner Brian Kuzmar, who is gracious enough to help me with equipment and getting this interview professionally done, at least compared to what I do.

So thanks. And we’re in the antique side of the store. If you’re in Lauderdale by the sea, come by and check out the rare coins and precious metals. Well, nice to have you here, Rafi. And I think you had a great time here in Florida. You got a little bit hot weather going on here, but you got a nice little trip. Got to, what’d you say? Go down to Islamorada, see the. Yeah, we were in the Keys, the kids are away at camp. Had a little vacation, going back home. Two days. Yeah. Long trip. Well, wish you a safe travels back.

But anyways, what do you want to talk about? I mean, I don’t know where to start here. Okay, well, you were saying that you are at least a second generation rare coin dealer. Does it go back any farther? Not really. My father started in the rare coin business. I think it was probably in the 60s, him and my. He was always a coin collector. But him and my mother would. To supplement his income, he worked for Control Data, which was up in Washington D.C. i think he worked on the IRS computers that were at the time when computers were giant.

I remember him taking to work. But many, to make a long story short, to supplement his income, he’d go take his check. Because that was a time when silver halves started to become worth more than the half dollar itself. So there was like this hoarding in the United States in the. I want to say the late 60s of 64 and prior silver coins. Yeah, well, 64 is when LBJ took the coins off the silver standard. Yeah, yeah. And then some.65 through 70, you still had that 40%. You know, the 40% JFK halves. Martin Sheen. Martin Sheen, that’s President Kennedy.

You idio a difference. I mean, he played Kennedy once. Right. So my mom and my mother and my father, to supplement his income, he would cash his entire paycheck. I don’t know what it was at the time. Wasn’t Probably a couple hundred dollars, two or three hundred on Friday and ask it all and change. And him and my mother on Saturday nights would sit there and sort through it all and pull out all the silver coins. And then my dad on Monday would quickly sell the silver coins cover, you know, put the money back in, deposit the change and make himself a profit.

We shall remunerate with metallic tinder discs. Of course he was. And that’s. Yeah, yeah, that’s Gresham’s law in action right there. Yeah, I remember him and my mother upstairs as a kid, you know, sorting through these things, you know, so that’s kind of the start of it. But he was a collector and I think he got an offer to job. Make a long story short, he got offered a job in Florida working, being, you know, working at a coin shop. Took the opportunity and we moved here in 72. You know, I was pretty young at the time, but he started working at a coin shop.

I spent my summers there. So, you know, he. He kind of started. He wasn’t a coin dealer prior to that, but, you know, he kind of. That’s how his start in the business. And I worked with him for many, many years. In fact, I worked for him and a 10 by 10 or 15, 15 by room during the 1980, you know, when silver was 50 bucks an ounce. And we had, man, I remember just people, literally when they say there are people lined up at the door, there are people lined up out the door, trays, and you name it.

I can’t tell you the stuff we probably melted. That is treasures now, you know, but. But that’s. That was my start and, and I worked with my father in the summers and of course I did coin shows with them. So I’ve been doing it quite, quite a long time. I got out of it a little bit, but got back into it. I realized how much I missed the business now. So you’ve been through. You were through the 1970s up through 1980, then you saw the 2011 spike in gold and silver. Yep. And now you’re seeing. Now we’re at $38 now.

Yep. You know, can you just give us an overview of those three markets and the differences between them? Like what are you seeing now versus what you saw back then, the 80, 81 market now, you know, it goes back quite a ways. But, you know, what I do remember about it is the amount of material that the public had. The public had huge amounts of gold and silver. You know, silver. Silver not being as important. Remember, it wasn’t too long before 80s that we were actually just spending it. My father was, you know, 10 years earlier, maybe my father, or a little bit earlier was pulling it out of change at the time.

So 50 million. Did he sell in 1980? What’s that now? Did he sell in 1980? No. All the stuff that he used to buy when he would go to the bank, he’d sell it immediately to supplement the income of the family. So it really was kind of that it wasn’t a collection, so to speak. When he opened his business in 80 or when he opened his business in 1977, Florida currency and coins in Boca, you know, the market was kind of like just coming up with gold and silver and gold was kind of moving up a little bit and then kind of staying at one point before it took off.

But huge differences. There was a huge public had a huge amount of gold and silver in 1980, a huge amount of gold. Everybody had some form of gold or silver and they were taking advantage of the prices at the time because inflation adjusted silver at 50 bucks is. Yeah, I mean that’s huge. I mean, you know, so it was huge money they were getting for their silver. I would imagine very few people were able to sell at 50. Like a handful. Yeah, I think a lot of people caught it in that, you know, 10, 20, 30, 40$.

And then gradually people selling their heirlooms and started to fall off because a huge amount of this stuff had just come out of the woodwork. And of course, you know, that can’t last forever. Yeah, that’s a good point. With the markets that were coming up here, the stuff. Eventually 2011, same thing. We had more public activity with gold and silver. 1980s we were selling a lot of silver too. So people were investing in silver. There were a lot of silver investors coming in, buying 100 ounce bar silver as well. There was a lot of activity going both ways.

Scrap coming in and people investing in gold and silver coins going out. So a lot of two way traffic to make a long story. And I don’t want to go long in this, but 2011 we saw something similar, but you didn’t see the amount of scrap coming in from the public in 2011. But you still saw the cash for gold business pop up. I mean, I don’t know how prevalent it was in Israel, but here we, you know, 2011, yeah, we started having the cash for gold markets. I remember, I remember seeing in my neighborhood, like in houses, like people just put signs up in their houses.

They weren’t stores, they’re just like I buy, I buy gold. So offering that market was a little different, but there was still material to be had. But the material to be had was kind of, you know, being instead of like a couple coin shops and metal shops buying it. Like in the 80s now you had a lot of competition, so the stuff was more spread out, but it still wasn’t coming in as fast as it, you know, you didn’t see as much material as you did when I did when in the 1980s. So there was a lot less material.

People had less gold and silver, I would assume. But there was a larger amount of people buying silver as well. I felt like there was a larger market for silver bars and gold bars. People were buying more material at that time in 2011 and then 2011. 20, yeah. 12, right. You know, we had it, you know, in fact, silver, you know, I just remember far more silver buyers and gold buyers, particularly silver in that period than I did in the 1980s. It could have been just the environment I was into. You know, I was with my father in a smaller store at the time.

Here, 2011, 12, I’m doing my own thing, bigger environment, more money, but I don’t think the material was as heavy and the public didn’t have as much gold and Silver in 2011. But still a lot huge difference in this market. You know, I’ve been watching gold and silver. We’ve been watching gold and silver make these all time highs, just consistently, consistently. Where did all the caster gold businesses go? They started to pop up, but all of a sudden there’s no merchandise coming in. Okay. That’s what I see with gold and silver, particularly United States is I see the lack of merchandise coming in and I see the lack of reporting.

Nobody’s talking about gold and silver. You turn on the news, very few mom and pop people talk about it and here we are just making incredible highs in the gold market particularly. But silver making incredible highs too. And I just don’t see the activity. Material’s not coming in. Right. And I think the reason the material is not coming in because we’re living in a different age. That age we were living in the gold and silver age where our parents had silverware from wedding sets they had. They bought silver. Silver was in 1980 for sure. A lot of people had gold and silver.

A lot of people had gold and silver. That’s why there was a huge amount of it coming in 2011, 2012. There’s still pretty much a lot of gold and silver. Maybe different stuff, maybe it wasn’t stuff from the 1900s or 1800s coming in, maybe it was more contemporary silver, but still coming in. Not this market where I’m not seeing it. In this market we’re having because very few people own gold and silver anymore. Okay. The generation, I’d say the last 20 or 30 years, it’s, you know, they don’t have silverware, they don’t own silverware. You know, they might own some silver jewelry, they might own some gold scrap jewelry.

That’s probably where most of this business is coming. But scrap businesses died off dramatically. And this market right now, I’m not seeing the amount of silver buyers and gold buyers that I saw in 2011 market, which was, know that was the thing with 2011 12. It’s just a huge amount of buyers, you know, a lot of people buying gold silver bars. I want to make one other point too, and you know, I can just talk forever. So forget that. That’s what editing is for. Right. One thing I did notice is that the huge amount of buyers that I did have in silver, you know, well, live in a wealthy area here, you know, big buyers, small buyers alike.

I just, I didn’t see the capitulation after 2011, 2012 of that merchandise. You know, after the 1980s market, I did see capitulation over the years of people that had bought silver bars at 50 bucks an ounce at 1980. So you’re saying in 2011 they didn’t sell when the price collapsed, but in 1980 they did? Yeah, okay. Yeah, yeah. 1980, after the $50 market, I think people were shocked, waiting for the market to come back. But all that stuff started to trickle in over the, well, 1980, 2011, 30 years time span there, you know what I mean? So that stuff, we did see it trickle back, but all the stuff that was bought up in that frenzy, in that frenzy in 2011 12, even from the big whales, I saw and I didn’t see any capitulation.

I’ve been saying this for a long time. I’ve not seen any stacker capitulation in that market. Yeah, well, I mean, I can tell you that from personal experience, I started buying silver in 2012, right? That’s when I got into the. That’s when I started to understand what money is. And I think I bought it at like maybe 25, 26, 27 or some kind of mix in there. And I was down for like 10 years and I didn’t sell. I just held onto it and now it’s doing better. When you say that to me that you’re not seeing a lot of buyers come in.

To me, that sounds like a wall of worry, lack of bullish sentiment. Sounds to me bullish doesn’t mean there’s not going to be a pullback or anything. It sounds like a good sign when everyone’s in a frenzy, everyone’s buying like in 1980, that, that would be worrying to me. But we’re seeing the opposite now. You’re saying, yeah, I’m not seeing the buyers, you know, well, we did see the buyers a little bit in 20, you know, when that, when the virus came along. You know what I mean? During the shutdown, we did see, we did see a large amount of people buying silver.

You know, there was that silver squeeze thing at the time. And so we did see a lot more people buying silver. But since that period, it’s dried, it’s dried up dramatically. I haven’t really seen it. You know, silver’s making 30, 35 dol. Somebody’s paying 40. Who is it? It’s industrial, I think. I think it’s two things. I think in my personal opinion. You know, it’s first off, you know, my, my retail industry, my retail business and selling gold and silver coins and bars is, is. We’re, we’re such a small. And I’ve said this over and over, it’s easy for me to think that, well, you know, I represent, in people like me and wholesalers and stackers represent the gold and silver market, but we don’t.

We don’t. We’re like. And I from, for me, I’ve always said that, you know, Americans, there might be 1% of the population, in my opinion, that are serious stackers. You know, they do polls and they say, well, how many people own gold, America? But people count their gold jewelry, you know, well, I own gold jewelry and stuff like that. But if you really went and asked how many people own. If you just start going to parties and you go to people, you know, and very few friends. How many of you own a Krugerrand or Maple Leaf or silver bars.

Yeah. Jewelry or some gold jewelry. And almost no one. So we, and the, and the thing in our industry is that the dealers, the mentors and all these other guys out there, we confuse, you know, our business with the kind of like, you know, rest of America. But the fact is we’re such a small, small segment of Americans own gold and silver. And I think most of us are bought in for years and years. Most of us, we’re not just gold and silver stackers. Overnight we develop this and we, we Learn this and we spread this along.

So I think the 1% of American stackers out there just loaded up has been. They haven’t capitulated. They buy more when they can. But. But when we’re not. You know a lot of guys in our industry was confusing. Well, you know we’re melting tons of gold and silver coins. That means that the market. No, it just means that the market shifted to where that stuff is really needed. Which is I think maybe paper contracts that are panicking because they want to cover their positions. Maybe, maybe that’s why a side is backed up a month or two months out on their metal.

Or that’s what you were telling me. So that’s what you were telling me. The last thing we were talking that these big smelters, they have like a glut or I mean something like that. You said. Well I believe that it’s kind of like a funnel, you know. And the pinpoint where the funnel is in the silver business is the refiners. You know, you can get all the stuff you can out of the ground if you got a ton of it coming out of the ground. You know the real tie up is the guys that can refine it and turn it into real metal.

And these guys, they turn it into metal are, you know, they’re the. There’s what’s causing delay in production right out there. Because it’s a. You would think that we’re not selling any gold and silver here. You know, we’re very quiet. Most, most businesses like myself in this industry is kind of quiet to the retail stackers. Again my feeling is they’re all stacked in, you know, they’re all. And we get the new ones coming in the store of course and so does everyone else. But the. You would think because there’s very little retail business and a lot of the premiums on retail stuff gone down and it’s getting melted that there’s no demand for silver.

But the real again I believe that this stuff is getting turned in a size turning it into thousand ounce bars metal or is telling me who buys thousand ounce bars. You know what I mean? Industry, you know all this silver. And they’re backed up for a month and a half. They’re telling me like a size saying to their customers you were a month and a half now out. Now metal ore is still not even taking silver. They’re trying to figure out a new plant where they’re. You know, some of it might be logistical but remember these, this is the funnel point.

You know what I’m saying so. Yeah. And also what does that funnel point do? If these guys are backed up, they’re not producing as much silver as they’re taking in from the mines. Somebody’s won that silver really bad, you know what I’m saying? Yeah. That would extend any spike that happens because even if the price is, let’s say 50, 60, 70, whatever it’s going to be, if you still have a bottleneck, you can’t get that supply out. That means the price stays elevated for longer than it would otherwise. Yeah, yeah. I mean that’s basically the truth.

But the other thing too is what I’ve been bringing up and I’ve been saying industry wise, a lot of guys have caught on to, you know, because I’m on the front lines. I’m buying from the, you know, I’m buying from the public. I’m buying from dealers who are sending stuff to refiners. You know, I’m kind of in that front line thing. We’re getting less and less scrap in all the time. So there’s less and less scrap material out there. So where is all this silver coming from as well that is causing these backups? It’s not. You know, for a while it might have been coins and bars.

You know, the industry kind of melting off the excess, the over excess, you know. You know, just because I have too many accrued rands or silver bars and I need to start melting it or Joe Blow does, you know, dealer needs to melt it, it doesn’t mean that the market start still not really active, which is this. I mean there’s a big demand for it. It’s not a big demand for coins and bars because again, stackers are a small part of this business. But man, if a refiner tells you as big as a psy and they have bats probably that melt silver, they’re like really big.

Yeah. That they’re backed up and they’re a month and a half behind. What I mean, there’s a lot of things you can interpret from this, you know, and you made some very good points as well. Yeah. So I’ve told you this before. The way I look at it is that everyone is a stacker, but very few people know it. I believe everyone’s a stacker in the sense that everyone wants money or what they consider to be money. Whatever their most liquid commodity is for them, which is for most people it’s dollars. But one of these days those things are not going to work anymore and then you’re going to have to go back to money.

Itself. Then everyone, suddenly, everyone who is a stacker now in terms of silver and gold derivatives, suddenly becomes a stacker of money itself and credit breaks down. That hasn’t happened yet. And I think it’s going to be soon. Other people think it’s not going to be so soon. I mean, I guess we’ll see. Only time will tell that. But that’s in every society. It eventually goes. When a currency falls or when a coin gets debased in ancient times and they can no longer use it, then you stop using those coins and you have to open up your stacks wherever they are and start spending those kind of.

Gresham’s Law is a little involved there, too. Gresham’s Law reverses itself. Once the other garbage money goes to zero, you can’t use it at all. So then what are you going to do? Right. Oh, once. Yeah. In a fiat. Yeah. Well, it’s funny too because, you know, we’ve been saying, I’ve been thinking this for years and years and years, you know, sound money. I’m a sound money Ron Paul advocate. Then, you know, I supported this campaign. I’m libertarian at heart. You know what I mean? But we’re seeing, you know, gold is a tier one asset now.

Kind of interesting. We’ve seen that happen what, three, four, five years ago or whenever it did happen. It’s kind of been a while. But gold now is a tier one asset. And now we’re seeing the brush by central bankers to kind of make gold. You know what I mean? Make gold great again. Yeah, they’ve been stacking. They’ve been stacking the central banks. But on the other hand, dollarization, this is all part of what you’re talking about, the de. Dollarization. People start looking for sound money. Money starts flowing into, you know what I’m saying? So on the point of central bank stacking, and then I want to get into numismatics after this.

Sure, sure. But so if you look, I think if you look at a broad chart, like going back to the 1930s, 1940s, 1950s, and how much gold central banks had, it’s true they have been accumulating lately compared to 2000, at least for sure. There’s the famous Gordon Brown bottom when Prime Minister Brown sold $200 an ounce or something, whatever it was. Yeah. But compared to the 1930s, 1940s, they still have much less than they had back then. So they’re moving, but it’s not like they’ve. It’s not like we’re in a new territory. That we haven’t been in, they still don’t have that much.

And they have much more fiat liabilities on their balance sheets and a whole bunch more debt than they have gold, that’s for sure. Right. And about the gold, tier one asset, I don’t think that’s so significant. Other people disagree with me, but I don’t think that creates, that makes gold viable or enables commercial banks to stack gold in any way that’s more profitable for them because they still have to back the gold with some other liability. And tier one, tier two, I don’t think there’s that much of a difference. It’s not going to turn banks into stackers, but I could be wrong on that.

But I don’t think I am. But I really wanted to get your opinion on numismatics. I was wrapping my head around that whole thing there too. Numismatics, sure. So it’s a touchy subject because I like numismatics. I enjoy numismatic coins. I like seeing them. I have a few, not many. I don’t heavily invest in it. And I definitely don’t see it as a way of wealth preservation. Right. I see it more as gold and silver art, which I enjoy, but which I wouldn’t buy for any wealth preservation purposes. If I’m wealthy and I want a collector’s item, something that has sentimental value to me, then yeah, of course I would.

I would buy one. Just like if you have the money and you want a luxury car or an antique or an antique Studebaker or whatever it is, they go, go ahead, buy it, enjoy it, drive it around, you know, whatever. But it’s a. I think people confuse the bullion market with the numismatic market. I think for people who are looking to preserve their wealth, they should not be confused between the two markets. That’s my take. And the people that try to. There are a lot of people in the gold and silver bullion who style themselves as bullion advocates and they say, oh, no, move into numismatics because it’s safer and it’ll be less of a chance of the government taking your numismatics and taking your bullion.

I think that’s just, that’s a bait and switch. I think you, first off, you’re 100 right, you’re 100 right. The accumulation of wealth, I agree with you. It would, would not be a collectible in my, my opinion. All right, first off, you’re right about that. But I mean, you know, gold and silver, some people may call Bitcoin or whatever, but other Things are assets, but, but the collectibles and rare coins. No, not at all. And there are people that push that, you know what I mean? And I’ve been a strong advocate against that. Now when you, at a level in life where you have, you know, so much money, you know, I’m saying, and this is where, where certain things can be an asset.

All right? At the top tier level, probably in numismatics and probably the top tier level in every, you know, collectible, whether it’s watches, whether it’s cars, you know, the top tier, the top tier collectible part. At that level you may become investments, providing the economy doesn’t fall completely. I mean, again, end times, you know, the Duesenberg is not going to do you much good except maybe a place to store food or downtown or, you know, I’m saying, however, in the average environment, you know, the top level are, you know, so there is an investment. You know, there are people that invest, but they have the money to invest.

Yeah. So we’re talking about cash. Yeah. Or people, people who are really, really rich, they can see it as their, their form of investment. They’re playing around. Other than that, Other than that, you know, and most people, most of us don’t. Can’t hire a guy to like me or someone to say, hey, I want to invest $5 million in numismatics and you know, pick me out some really good stuff you think might do well with. And again, the caveat here, it’s collectible. It’s collectible. You know, collectible on end times, they can help you a bit. Collectible is only going to be good if the market’s good and there’s people out there that are still interested in collecting this kind of stuff.

It has its place. I’ll collect, you know. You know, again, we’ve seen the price of cars and different things at a different level. Say, wow, it just keeps shooting up, you know. Yeah, but even that’s cyclical. But, but most people need to stay away, away from numismatics. And I’m, I could get trash for that by some people. But this is the reason I say this. Collectibles. If you want to collect coins and you, you want to be a collector, you’re not just investment wise. No, you don’t want to buy that stuff. You want to stick with, you know, gold, silver, Krugerrands, maples bars and stuff like that.

If you want to collect coins, then collect coins and collect it with the intent that this is a hobby and I enjoy doing this hobby. And with that said, Anyone I’ve ever seen go in and say I’m going to invest in coins, whether it’s $500, $1,000, 10,000, 20,000. I’m not talking about the upper echelon guys. They lose money, they have no interest in collecting coins. They’re just going to be one of the hottest, greatest whatever recommended them by that person online that talks about, yeah, you need to buy certified $20 gold pieces because if you don’t, it’ll get confiscated, you know, and collectibles can’t be confiscated, which is load of bullshit on its own.

That’s. Yeah, if they want an excuse to get whatever it is they want to take, they’ll, they’ll just make it up. The confiscation. I know where this came from because I saw the script, actually I read the script on it. It was a friend of mine that was a telemarketer. He worked for one of the companies at Blanchard, maybe, I can’t remember, this goes back 30, 40 years ago. And they’d have their telemarketing salespeople say well why sir? You know why you want to buy $20 gold pieces that are certified, you know, which coincidentally had 20 and 30 and 40 premiums over the price of gold.

All right, collectible premium. Because you don’t want to have the stuff confiscated. This is a script that goes way back to a telemarketing firm that is still entrenched in our industry. People still believe in the confiscation nonsense that you have to buy. And yeah, and, and I know who you’re talking about. There’s deal, there’s dealers and some of The Talking Head YouTube People out there that, that still push that narrative. And you know why? Because to be competitive on a career grant, you got to be within a 2% couple percent. Same thing with silver bars. You got to be in a couple percent.

Collectibles has a 20 in Florida Telemarketing laws and a lot of telemarketing laws allow a 20 and 30% markup in collectibles. You can’t do that with buoyant, be competitive. Look, there you have it from a rare coins dealer telling the truth. Coins are fun though. I mean, and when I said people that just invest in coins, just willy nilly throw them away, like you know, just throw them in a drawer and know they’re going to go up one day. Yeah. The people I’ve seen make money in any collectible industry are the people that took a genuine interest, learned about it, made their mistakes, took their wallops still enjoyed the hobby and kept going.

Yeah. I mean think about it. No matter whether whatever hobby it is this, you know, the people that make money and do well are the people that actually really are in it for the hobby. So can coins be a good investment on that end? Yeah, sure. And look of collectibles, I think gold and silver is the wisest thing to collect. But it’s still your downside is limited to the gold and silver value. Yeah, this is true copper’s. You know, you could wake up one day in the morning, it’s just a big green blob. But you know, there’s a yes and no to the collectible industry and the way that is touted to a lot of people, you know, stay away from graded, certified.

Look, I think the only reason you should buy a new mismatic coin is because you really like it, you enjoy it. Yeah, yeah. I mean there’s numismatic stuff that you’ve been talking to me about that you enjoy from a certain period, time frame and it has a collectible interest to you. You’re not really interested. But if you did become interested in it, you’d start learning about it, reading about it. Hey, what other coins are available out there and making some maybe unwise decisions buying stuff. But that’s the learning curve. And would, would you one day, ten years from now, if we don’t have the end time anytime soon, would you be able to turn that over and make some money? Possibly.

No. So I don’t want to. That wouldn’t be the reason I’m doing it. I don’t want to just crap on numismatics as an investment. Might want to explain it has its role. Oh no, it definitely does. Yes. It’s a legitimate market. It’s just. But if you, if you have no interest, you don’t want to come from the angle of stacking and then move to numismatics because of that. No. Right? No, no, don’t get caught up in that at all. And there is a lot of just genuine, you know, people out there that are just hawking this stuff just for the sake of, you know, profit.

Yeah. But the interesting thing is all those $20 gold pieces that these guys were hawking on YouTube and all these other places like a couple of years ago, two and three or four or five years ago, the $20 gold pieces that were three and $400 over the price of gold, they’re now worth under melt. And I did videos, I told people don’t buy these things, they’re going to be under Melt when the market goes up high enough, you’re going to be throwing these in the melting pot. They’ll be worth, you know, I’m a 6420 Saint that you paid a $400 premium with.

The price of gold is going to be $150 below the price of gold. Here we are. Yeah. So one more thing. Wanted to talk about 1980 versus now. Right. You said in 1980 we went up to $870, whatever that is in an inflation adjusted. It’s much higher than gold is right now. But back then in 1979, 1980, a lot of people had a lot of gold and silver and they sold it all. I mean my whole family exists because of that is a story I’ve told before. But no, my wife’s parents met each other because her mother came to from South Africa to Florida and ended up meeting my father in law because they had sold some of their gold and silver profits and they got tickets to come to Miami for a vacation.

And that’s why my wife exists. So that’s why my family, because of the 1980 gold and silver spider. That’s why. So I have a lot to thank. So there’s a sentimental thing behind that market. Yeah. So given that now a lot of people don’t have gold and silver and the gold and silver that was supplying the market in 1979 wasn’t coming from stackers, it was coming from just people who had it because it was bled over from the 1950s, 1960s, they had a lot of gold and silver. So there’s going to be a time when the market is going to be similar to 1979, 1980, except people are not going to have it and we’re not going to have as much of a supply coming in.

Seems that’s what you’re implying. Yeah. So I mean what do you think we have to see for not the numismatic market but for the bullion market to have a 1979, 1980 moment for conditions. My concern, my concern is that again we, in my industry, we’ve all lived off of. When I say my industry, I say my business is derived from stackers, the bullying business, not the rare coin business and the collectible jewelry business and stuff, but the, the bullion business derived from stackers. And I believe again they’re bought in, they’re just bought in. I don’t see it happening.

I think that Even back in 1980s a lot of people had gold and silver to sell, but still it wasn’t a large Percentage of people buying it. The news was much bigger back then. It made the news all. Every night. You heard how gold was making all new highs. You know, it’s kind of interesting to, you know, turn on the news as a kid and I’m in the industry and I’m saying, oh, gold’s broke. You know, nobody ever talks about gold’s broken, all new, Silver’s breaking, new highs. But the. I think that the reason that we’re not seeing a lot of money coming to gold and silver is that most Americans, my feeling most Americans, when I think Americans, I think of friends, family, people I know, customers and stuff that aren’t stackers or people that aren’t stackers.

Their entire world is in a couple investments, their homes. I’ve said this for a long time. It’s their homes, their equity, number one. You know, the United States has always pushed your home as being your. Yeah, thanks, United States. It’s a very dangerous situation. The problem with that is my father always told me he never really owned. The bank does for many years. You pay a lot of interest in it. But I don’t want to go into, you know, a lot of people, their investments are their homes. That’s. That’s American. Their investments are their homes, their ira, you know, their pension plan from their company.

That’s their investments. Whatever’s left over might go into some gold and silver. But how much is left over anymore? You know, how much does my friends and your friends that live here, you know, how much extra money do they have to buy gold and silver? Not enough to fuel the industry, I think, and not enough to create that frenzy. I think, you know, stackers are bought in. But I believe the rest of the American public is, you know, either doing what they can to get by or just stay where they’re at or just maintain what they have, which again, that’s real estate.

That’s where I see all the money. It’s in stocks, bonds. Okay, so then, so I’m going to take what you said and try to look at it from the opposite angle from the other direction. So you’re saying the stackers are all bought in, but we’ve never been a big part of the market. And unless everyone suddenly becomes a stacker, which I think will happen by default when the dollar doesn’t work anymore. And we can agree or disagree on that. But if we take what you said and look at it from the other angle, then everyone’s investment is in Real Estate, 401ks, whatever their company pension plan is.

If the dollar is weakening and weakening, and the purchasing power of all their investments, whether the nominal value goes up or down, doesn’t make a difference. Sure, if they start seeing that their purchasing power is lost and it’s losing its purchasing power very quickly, they will panic into something. Whether they. I’m not saying they’re going to suddenly buy gold and silver, but let’s say some of them will. But the point is, even if they don’t, in an environment where purchasing power of classic American investments like real estate, 401ks, pension funds, all that, when that collapses and all of a sudden people can’t afford anything, the purchasing power of gold and silver will absorb all of that lost purchasing power and those other investment.

Just by laws of economic monetary nature, whether stackers actively go out and buy gold and silver at that time doesn’t make a difference because purchasing power doesn’t get a race. It’s like thermodynamics. It just moves. It moves between matter and energy. It moves between these investments to those investments. So gold and silver, just by the nature of what they are as liquid commodities, will absorb that loss. Purchasing power when it happens. Right, Right. I mean, yeah, I think I see. I. That’s completely plausible and I don’t see any reason. I mean, stuff just doesn’t disappear. It just doesn’t evaporate.

It goes somewhere else. So you’re exactly right. It’ll go into gold and silver. However, is it going to, you know, my question is, is it going to mean more people walking in my store buying gold and silver or selling gold? So I don’t know. Well, either way, I mean, you know. Right. The spread, right. Well, yeah. Well, I also win because I’m a holder too. You know what I’m saying? I’m not, you know, I’m not just a customer. What’s the hole? I’m also a client. I’m also a client. So, I mean, I love their spatula so much, I want to come.

I’m Si Sperling, president of Hair Club for Men. I’m not only the hair club president, but I’m also a client. Hello, this is Cy Greenblum, president of Spatula City. I like their spatula so much about the company. I own my own gold and silver. So I mean, I, you know, I talk, talk and walk and walk. So I’m, I’m pretty much good, I believe, either way, you know, whether the business, you know, more people come and buy gold and silver or me just holding gold and silver as a hedge or, you know, that Kind of, you know, transfer of wealth.

And I’m seeing it already anyways and I’m saying the ability of, you know, my personal holdings just my net wealth just increasing, but really the net wealth is not increasing as much as just the buying power of the dollar. Right. And you can see this just happening continually with the price of housing. If you look at the price of housing in dollars is going up. Look at the price of housing in gold and silver, it’s going down. The price of everything in terms of gold and silver just keeps going down and down. Yeah, there are little blips, but like, it’s like this, it goes down, you know, the price of everything else in gold and silver, stocks, real estate, bonds, everything.

Yeah. And it will continue and it will continue to fall. And when this whole monetary system goes away, gold and silver will be less standing. No matter when you think it’s going to happen, whether you think it’s going to happen in a month, whether everything is going to happen in 50 years, that’s still the end of it. Yeah, yeah. And well, it’d be interesting too because you know, silver, when we’re talking about silver also, silver is not just, you know, a monetary metal, it’s also an industrial metal too. And how that comes into play as well.

Yeah, you know, that’s a whole different thing. We talked about that before. Yeah. Because in any other year when silver was the main monetary commodity, people traded it directly. It was never really substantially an industrial commodity like it is today. Yeah. Now it is with solar and with the amount of electronics that are used. It’s just incredible. And again, another in that we’ve spoke about, and I talked about a lot as well is, you know, that stuff is not recycled. I mean, you know, look at car lots, you know, a half an ounce of silver in each brand new car since the 80s or something like that, when they put printed circuit boards with silver in there, you know, 0.4 to 0.6 ounces is the average.

I mean those, they don’t, you look at junkyards, they don’t go in there, they don’t rip out these. That’s because it’s not worth it. But eventually, eventually it’ll be worth it. Yeah, but think about all the stuff that we’ve already sent off landfills too. I mean, so recoverable silver is, you know. Well, thank God there’s not a lot of recoverable silver in that regards because the backup times would even be worse, wouldn’t it? Yeah, well, maybe, maybe one day like landfill front property will be like beachfront property so people can go digging in landfills for the silver scraps.

And, you know, they’ll have their own suits. You’ll have companies making these, like, hazmat suits. People who want to go dumpster diving in big, you know, trash piles. And. Yeah, hopefully it won’t be 5,000 poor Americans doing it, you know, like in India, you know, over Cashville, either. So we’ll see what happens. They’ll think, who are these idiots that threw all this stuff out? I love these landfills. It’s great. And we’ll be like, oh, our grandparents said when they were very really, really, really wasteful and rich, and they didn’t know what they were throwing out. Yeah, because people were manipulating the gold and silver markets, and they had this fiat money, so they threw everything into these big piles of crap, and then now we’re all rich.

Look at that. Possible. Okay. Well, it was. It was great talking to you. Do you want to close off with any statement or anything about your store? Anything you want to leave the market with? Well, if you’re ever in South Florida and you’re looking to buy or sell any kinds of coins, bars, precious metals. We even do jewelry and artwork and other things. Keep me in mind. We’re open 10 to 4. Monday. Surprise. Or brick and mortar. Don’t do anything else. There’s my pitch. Is that okay? Yeah, it’s perfect. You sure? Okay. All right. Thanks, guys, for watching, and we will see you in a few days.

Whenever I put up the next video,
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