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 Junk silver is not it's not it's dimes, quarters, and half dollars minted prior to 65. But where I say it's the best value, if you can do anything at or near spot, which junk silver is, um or maybe a little over, but not much, you're buying something that is the best value with with with no opportunity cost with no added premium attached. And I and you put that in in reference or or measure it against where it's been in the past. Um you know during the pandemic because of its utility and and its divisibility

the premiums were second only to American Eagles and the US Mint has been the model of inefficiency for a long time. And [music] you know I asked people to to listen to Vix Weir's interview with >> [music] >> um what's Jack's last name? I forgot Jack's last name. It'll come to me in a moment, but Jack Surman developed the Silver Eagle program at the US Mint and Bix did a three-part interview with him a couple years ago. I remember almost falling off my chair where he said he

was approached by at the time his boss, which would have been the Secretary of Treasury, Janet Yellen, who told him to make as few silver eagles as possible without creating a a global backlash. I mean, he actually said that uh that the primary distributors came to him with far more demand than they could fill and like they wanted another 36 million and they gave him 12 and he [music] said it it really bothered him. So, you know, there's a fine line between conspiracy and reality with the US mint. I would

prefer silver eagles all day long with the [music] you know, many of these states looking at silver coins made in the US as um legal tender. Uh [music] but the premiums on silver eagles on gold buffaloos are crazy right now and moving in that direction. Again, the fact that s junk silver hasn't followed it the way that it did during the pandemic is is testament to the fact that things aren't breaking apart for everyone to notice. This is just those who follow the US mint uh and their lack

of capacity. But if I were going to say what is normally, I would say bars. But due to the threats all along this year of tariffs, the bar industry or [music] the products that are associated with silver bars are typically they're coming largely from Switzerland. And with Pam Swiss and and Belcambi and and others, um they weren't imported very much and so the premiums are higher on them than I like. Um maybe 1 oz rounds, [music] those come from domestic refiners here. um would be the next best or maybe even

there are some coins like uh the 2026 silver kangaroo that we have in stock or or some of the other coins that are not American Eagles but are of the other six major mints the Kruegerands the Bratannias the Philarmonics [music] they're right there and because the bar market is inflated I skip it so it would either be junk silver 1 oz rounds or coins from probably not even the maple leaf which [music] is getting inflated again. It would be South Africa, Australia, UK to me would probably be the three that that [music] would stick

out as being a good value right now. >> What impact does China restricting exports of silver mean for us and the LMA? >> Well, I think it means a lot for um the LBMA. Um it it it because of this um and because the move to classify silver as a resource of national interest that's that's China um you know and then you add the US putting it on the critical mineral list which means they too can can um curtail [music] exports. The president can do it without congressional order. Um and then you

look at the essential role of silver in solar panels, electric vehicles, semiconductors, defense, you name it. I [music] think does is it shows that both countries are viewing silver as as a strategic asset. It's not a commodity anymore. You're looking at a potential supply crisis and rising strategic value. What starts out as a trickle turns into much more than that. And you know, the people watching this show and listening to others in the industry who talk about this are way ahead of the

curve and think, well, geez, everyone knows this. But walk outside your bubble and talk to anyone who's well reading the wrong stuff, mind you, they won't have any idea about any of this. And so, we're a ways away from that moment where it turns into a stampede. But it it will curtail, I believe, it will curtail supply. And in a in a market like silver that is so massively rehypothecated at the upper levels, [music] meaning the same contract is sold over and over and over and over again, creating a real

problem. Remember, the market cap of silver is the size of a pin head. And you throw a bunch of money at it and it it doesn't just go up, it explodes [music] higher. This is what they've been trying to hold back. And I think that the big money um across the globe understands this. I think they understand that this is a rush to a a quiet rush to accumulate the resources and I think they know that they've you know that if they don't do this they being all of the governments and really

work hard it's at at protecting their own supply chains and their own strategic stockpiles. You know silver is is is a a necessary element. It's necessary in moving energy. It's necessary in moving civilizations. As dramatic as that sounds, there is no no element on the planet that conducts heat and electricity better than silver. You know, people say copper. Copper's too slow. Um, copper's going up, too. It's reclassified. But silver is a needed element. It is critical. Um, [music]

and I think it will start to affect the supply chain. I I think people take for granted for far too long how easy it is to get silver. I talk to people all around the world who have a next to impossible time of getting it all around the world. Um, I get emails every day saying it's impossible to find silver. Impossible to find silver. So, uh, it's it's been something we've taken for granted here in the US. I could see that rapidly changing if all of the governments start to say, "Hey, we

better get into a protectionism type of mode and and not sell this to the United States and to North America. Let's take care of our own first." And you could argue that's what the US is doing right now. You know, people often ask me, "What's the best value in silver right now?" And my answer stays the same. Junk silver. The pre-1965 dimes, quarters, and half [music] dollars. There's nothing junky about them. They're historically reliable, highly liquid, and recognized everywhere. More

importantly, they're still trading close to spot with no insane premiums. During the pandemic, junk silver premiums exploded because people wanted silver they could actually use or trade. This time around, those premiums haven't jumped yet, which tells me we're still early and most people haven't realized what's happening behind the scenes. Speaking of behind the scenes, the US Mint has been a mess for years. Jack Surum, one of the minds behind the Silver Eagle program, said he was told

by Treasury officials to keep production low, even when demand was huge. Distributors wanted 36 million eagles, and the mint only made 12 million. That's not inefficiency. That's controlled throttling. I'd choose silver eagles any day, but with premiums running 60 to 80% above spot, I can't recommend them right now. That's why junk silver stands out. It's real, divisible silver at a fair price. Normally, I'd also suggest bars, but premiums on Swiss bars have climbed thanks to tariffs and supply

disruptions. [music] So the next smart move is 1oz rounds from US refiners or sovereign coins like kangaroos, Britannia, Krugarans, and Philarmonics. All still reasonably priced. Bottom line, junk silver is one of the best values left in the market before the crowd wakes up. If you found this useful, make sure to like the video and subscribe for more insights.