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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