Silver Bullion – Just $1 an Ounce! (Video)
Mark Dice walked around downtown Encinitas, California and tried to sell a 10-ounce bar of silver for only $10. At today’s prices, that bar is worth about $160. He asked men and women, young and old, if they’d like to buy it. He even lowered the price to $1 while standing directly out front of a gold dealer. How many people do you think took him up on the offer?
This is a great video to show the naysayers who argue that precious metals are in a bubble. There are many people who think the prices of gold and silver are ready to plummet at any time. They predict gold could drop as low as $700 an ounce and silver could fall into the single digits.
However, bubbles are often associated with a certain amount mania. The asset or market in a bubble is often widely considered to be a valuable investment.
For example, think back to the housing bubble leading up to the financial crisis of 2008. In 2005, 2006, and even 2007, the prices of homes were skyrocketing across the country. Suddenly it seemed like everyone was an expert on what to pay for the piece of real estate next door. Amateur investors and the general public were hyper-aware of real estate prices. Even people who had never invested in anything, let alone owned a home, were willing to risk their life savings to get a sub-prime loan towards a house.
Is that the case today with gold and silver? We don’t think so. Next time you’re at a dinner party, ask your friends what they would pay for an ounce of gold or silver. We doubt the majority of people know what the market rate is.
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clueless sheeple.
The thing is, if you are selling something too far below the market price then people will think it is a fake. It is not that they don’t trust silver as a store of value, it is that they don’t believe that what you are selling them is actually real.
That’s a fair point. However, he was standing directly outside a legitimate coin shop and offered people the chance to go in and verify the purity and authenticity.
One day everyone of those people will regret the day they walked away from 10oz of silver at any price
People are absolutely clueless. Half a cup of Starbucks – and the idiot says no!
[…] Silver Bullion – Just $1 an Ounce! (Video) […]
this is the ‘before’ video.. i’m waiting for the ‘after’ video
Wow. I’m not surprised, but I wish I could buy 10oz for a stick of gum!! Oh well, back to apmex, $16 is still a steal.
This is just plain stupid. The guy talks to 1000 people and then posts about the 5 dorks who know nothing.
Who cares about those few who don’t know what and ounce of silver is worth in the current market.
And they let these people vote. A cup of Starbucks swill in lieu of 10 oz. of silver! Peter could you let me know in advance when Mark will be in my neighborhood?
The example showing how gold and silver are not in a bubble was so informative. Mark if you happen to have a 400 oz silver brick I’ll take it off your hands for $4000 in fiat currency.