Chris Olson

I've seen them in hand showing people paying $75 or $80 an ounce for silver coins when the price of silver was $25.

And that's disgusting.

Old people.

Old people who don't understand what they're doing.

And when they turn around to try to cash out, they want to buy a piece of real estate or help fund a grandchild's college education.

They see that silver and gold are both up maybe 20%.

They go to their IRA account, try to liquidate.

And they're underwater.

They haven't earned any money.

They're still down from their original investment.

They've lost money.

They've lost money.

Exactly.

So how does that work?

And it's because the people that sold them metal marked it up 50 or 60 or even 100% in some cases I've seen.

And they'll try to justify it by saying, oh, this is a...

a scarce coin or a special issue coin, and often that is part of the game, is they'll get these obscure coins that are an exclusive mint issue from one of the major mints, and they'll get access to that exclusive coin, so that if you try to look it up online, you won't find that coin anywhere, and it'll be some special gold or silver coin,

that only they have access to.

But fundamentally, there's nothing intrinsically valuable to it other than its gold or silver content.

It's still a commodity, isn't it?