Dealer Reveals Reason to NOT Buy Silver

Added: 2026-05-09

[00:00:00]That's good advice, Harry. One reason not to buy silver.

[00:00:03]>> Yeah, that's what I'm here for.

[00:00:05]>> And I'm curious, Harry, do you think demand is picking up for silver?

[00:00:09]>> In our little corner of the world, I don't think demand has ever dropped way off.

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[00:00:31]>> Hey, listen. A couple things I wanted to mention. Today, starting Saturday, which will be May 9th, we're going to be open once again on Saturdays. Our hours will be 8:00 a.m. to noon. If you work during the week and can't make it in, we sure be glad to see you. The other thing I wanted to mention is, and I haven't for a little while, we appreciate all the subscribers out there, and we we hope those of you who watch, but haven't hit the subscribe button yet, please do. We really welcome you to the Silver Dragons family, and we'd like to see the channel grow. So, if you're watching and enjoying the videos, please hit subscribe. Thank you.

[00:01:03]>> Well, would you look who it is? It's Harry himself. What's up, Harry?

[00:01:06]>> Hey, good morning, Silver Dragons. Good to see you.

[00:01:08]>> We missed you in the last couple of videos.

[00:01:10]>> Yeah, I took a vacation. needed a little time off and uh spent some quality time with my wife and traveled a bit and so got a little sunshine, a little little tan going on my face here. Otherwise, got rested and I'm back invigorated and really excited to be back.

[00:01:25]>> Well, you're looking good and we are happy to have you back. Me and Adrian were kind of holding down the fort while you were gone.

[00:01:30]>> Yeah, definitely missed it here. And >> not only hold down the fort, I mean, I came back and the fort was in better shape than I left it. So, maybe I need more time off. What do you think?

[00:01:39]>> I don't think so. And I do have to ask, what happened to all of the Mercury silver dimes? There are none in this case right now.

[00:01:47]>> Well, since I haven't been here, I think you better ask Adrian where everything went. I kind of wonder the same thing.

[00:01:52]>> Yeah. No, they've definitely been selling quite a bit. I mean, they're very popular still, and it's still one of the favorites that people uh pick. If they see Roosevelts or Mercury dimes, people always tend to go with the Mercury dime because it's a little different than the current design of the Roosevelt dime. And, you know, people want the older dime. Can I say something though about the Roosevelt dimes? An elderly gentleman came in yesterday. He was actually in a wheelchair. Nice, nice man. And he his daughter brought him in.

[00:02:17]He had a list of Roosevelt dimes that he needed to complete some books he's been working on for a long time. And I got to tell you, I went through every single dime in that tray with him. Every single one. Probably spent better part of an hour with him. And I had more fun than I've had in a long time at this shop doing that. And so it's nice to remember sometimes why we're here. It's not just about stacking. It's not just about what's the price doing. Truly, it's a hobby. And this guy was joyous. We found all but one or two of the dimes that he needed in a long, long list. And the fact that he got joy out of it reminded me yet again that the joy of the hobby is what this is all about. And I think the rest of it secondary. So I just wanted to mention even Roosevelt dimes can be a source of pleasure.

[00:03:07]Yeah, exactly what we're talking about plugging away at those holes. It always you feel so accomplished. I know it's weird, but uh when you're looking for those coins and you're able to cross off those coins off the list, it feels feels pretty good.

[00:03:18]>> And it was very humbling how grateful not only he was, but his daughter that I was doing this and I said, "This is this is what we do." And I just anyway, I just I'm thankful for days like that when I can help somebody get the joy out of the hobby and not just worry about what the price was doing.

[00:03:33]>> That's one of the best things about coins, Harry. You can just enjoy them.

[00:03:36]Yeah, imagine that.

[00:03:39]>> Well, we do have to look at the price today. I see silver is up a dollar. Gold is up $59, but silver's still hanging in there around $74. Although, I will say, I've seen some comments. It seems like a few people out there are kind of disappointed in silver's performance.

[00:03:55]>> Well, if you got in at $100 an ounce, you probably more than disappointed.

[00:03:59]You're probably angry. If you put that aside for just a second and you look at the price hanging in there in the7s, right, Adrian, prior to December of last year or so thereabouts, we'd never even seen 50 in history. And we're $23 above that right now. So, it's not like it crashed. And if you got in at $120 at the top, that's a bummer. But, you know, it's still hanging in there at a really high price.

[00:04:24]>> It's a good time to cost average. you know, if if you bought at a high price, I mean, and you have some more to put into insurance for your money, whatever you may want to call it. It's a definitely a good time to do that because you you want to buy when it's lower, not when it's, you know, higher again. You want to lower down your cost per ounce. And it looks like a lot of stackers are doing that. If we take a look at this case down here, I mean, I just mentioned there was hardly any Mercury dimes. You guys have hardly any coins in this case. In fact, there's only a few silver eagles, and they're actually in the spot tray right now.

[00:04:54]>> Yeah, definitely. I mean, we've been getting a lot of people coming in and buying and uh as you can see, we got a pretty thin case today and you know, we're going to be buying all day and but also selling. So, it's a it's definitely a balance. Yeah. Actually, now that I'm looking at the top of the case, usually you guys put the world coins up here, but you do have some eagles up here. You have some slabed eagles as well. And you've got one golden coin. So, has there been a lot more demand for gold or silver, would you say?

[00:05:18]>> Um, there's a lot of people coming in for gold. I mean, we've seen gold come down a couple hundred here in the past few weeks. You know, silver's also been playing around that $70 mark. So, uh you're getting both both parties coming in both for silver and for gold. I would say it's pretty pretty even. I mean, we haven't had to do much with, you know, wholesaling gold, but um stuff that comes in is definitely coming out the door as well.

[00:05:39]>> Harry, when you were on your trip, did you keep up with what was going on with the metals at all? Did you watch the price action or anything?

[00:05:45]>> Oh, yeah. I can't I can't resist keeping up with it. And actually, I enjoyed thoroughly the videos you did with Adrian and the guys because I got to thinking maybe maybe I don't need to be in the videos. I mean, they did a fantastic job. Particularly talking about numismatics on the three videos that I saw while I was gone. Talking about numismatics kind of plays into what we were just talking about, the joy of the hobby. It's such a vast area of knowledge out there and potential joy if you just take some time to learn about the coins. In fact, the gentleman I was talking about with the Roosevelt dimes, think about that. You can buy a bag of those and say, "I'm stacking silver," which is totally fine. Or you can buy a Whitman folder for a couple bucks and start filling the holes. Check your pulse and see how fun it is to, you know, find that 55 Philly and fill that hole, which is, by the way, the coin we couldn't find yesterday. So, I would have been real happy to find that. But in other words, there's other ways to enjoy the hobby than just looking at the price and calculating how much is in your stack. And I I encourage people to kind of broaden their horizons so that when the price doesn't do what you want, you can still derive joy just by being a hobbyist.

[00:06:52]>> Well, I think Harry, if you read the comments today, you'll see you were definitely missed in the videos, but we did have a lot of fun while you were gone.

[00:06:59]>> I appreciate that. And I I I missed everybody here and I was it was wonderful to be back yesterday and of course today. And uh just looking forward to helping people have some fun with this and if they want to make investments, we'll help him with that too. But if you want to be a numismatist, some someone who studies the science of coins, come on in.

[00:07:17]Adrian's been on a real win streak with finding collectible coins, some great rarities even in patterns, some type coins that you just don't see every day.

[00:07:26]two cent pieces, three cent pieces, seated liberties, dimes, half dollars, quarters. I mean, there's just a vast array of variety out there that you can really expand your your knowledge and your fun by just looking at some of the collectibles that we're getting in here.

[00:07:41]Yesterday, a guy bought a coin from a little town in Mexico because his wife was from there and it was from the 1800s. I mean, it's just you never know what you're going to find if you broaden your horizons and really start enjoying the aspect of the hobby that has nothing to do with the price of silver and gold.

[00:07:58]>> That is true. And it's funny, some people, they get into bullion first and then they move into the numismatics.

[00:08:02]Other people, they start with a coin collecting and then they move into bullion later. So, it could kind of go either way.

[00:08:08]>> Well, I think Adrian and I both started the same way. We started with the collectible aspect of this. I started with a penny folder. How about you, Adrian?

[00:08:15]>> Yeah, same thing. Penny folder and a quarter. We got the uh the 50 state book and I remember it started with the Delaware and yeah, the rest is history.

[00:08:23]>> Definitely fun to plug in on those holes. Something similar to those those folders up there.

[00:08:27]>> Oh yeah, look at that. I bet a lot of people in the comment section will remember when these came out and a lot of people did collect those state quarters. It was a fun thing to do. And now in fact, if you wanted to collect the silver version, the US Mint came out with the America the Beautiful series and they are done with it now, I believe. But you could get every single state quarter in five ounces of silver.

[00:08:48]>> Yeah, definitely. And um you know, these are something that are very popular.

[00:08:51]People are always asking us for them.

[00:08:53]You know, it's a it's a big five ounce piece, but it it's actually face value as a quarter. Be >> fun to go buy something for a quarter and pull that out.

[00:09:01]>> Okay, that's my total. It'll be $1. All right. Here, let me let me get you paid here.

[00:09:07]>> But if you add all this up, it's like 1,600 bucks.

[00:09:09]>> Exactly.

[00:09:10]I wonder if you took that into like Walmart or something if they would actually even accept it.

[00:09:15]>> Probably not, which would be hilarious.

[00:09:16]>> And something else I'm noticing in your case is there's a watch. And you guys do watches from time to time, but there's something special about this one. Yeah.

[00:09:23]>> Yeah. Yeah, we definitely buy and sell watches here and there, but um one of our uh regular customers, a young man, you know, he he goes to school nearby here and he works very hard and he loves watches. He takes these uh watches and puts them together. So he gets all these custom pieces and he builds the movement himself. It's a very nice piece if you if you look at it. I mean it's got a really nice case. It's got a leather band and you know cool deployment clasp and um it's also got an exhibition back where you can see the actual movement of the watch.

[00:09:53]>> Oh, that's wild.

[00:09:53]>> Which by the way requires no battery.

[00:09:55]It's like a Rolex where it just self- winds as you wear it and move. If anyone out there wears suits or is familiar with the term bespoke, a bespoke suit is something that's custom made for you.

[00:10:06]This young man makes these watches one by one custommade. It takes him about a day to make a watch. And so we're going to start selling these watches, not only to support a really, really wonderful young man, but also because the quality is absolutely superb on these watches.

[00:10:22]>> And I will show you guys this business card here, Harry. I don't show it enough in the videos. You got the email there.

[00:10:27]You got the phone number and everything.

[00:10:29]And some people have commented that they didn't even know you were in Beaverton, Oregon. The secret's out.

[00:10:37]>> Well, I got to say, there is not that much silver in the showcase compared to what I've seen other days. And I'm curious, Harry, do you think demand is picking up for silver? In our little corner of the world, I don't think demand has ever dropped way off. I mean, there's certainly some people we met in January that we'll probably never see again who bought at 120 an ounce, but it sells, as you can see, very steadily here, and it's not like we're not buying all day long. Thankfully, the demand is there and we've got a nice following of people who are working the plan. And because of that, the price fluctuations don't change their buying habits, thankfully for us and for them. And so, yeah, it's right now hard to keep in stock.

[00:11:15]>> And even the gold, too. I mean, one little gold coin. I feel like every time I come in here, I look at the gold tray, and there's usually a couple coins in there, sometimes five or 10, but just one today.

[00:11:25]>> Just one. We started yesterday with a fairly full tray of gold, and it was gone before lunch. Hopefully someone will wander in today with some inventory for us.

[00:11:33]>> And you know what's the cool thing about having this empty shelf here that we get to put out my wife's cookies that she makes always that she always makes for us. People always come and ask, "Hey, do you have any cookies that your wife made?" So, you know, my wife and my daughter work on this and they make some wonderful cookies. So, you'll have some here today if you come by.

[00:11:48]>> So, you can buy a coin and get a free cookie.

[00:11:50]>> Exactly.

[00:11:51]>> I like that.

[00:11:52]>> With coins and with bullion, you always got to have fun too and buy things that you like to look at. Um, I always tell people that because if you if it's on a down day, I mean, take out your silver eagle and just appreciate how beautiful of a piece it is. And, you know, just time is your friend. You know, it's time in the market. If you think you're going to need that money in a few months, I say, you know, just just keep it in the bank. But if you have some extra income to put aside for a rainy day or just to put as an investment, then I would say, you know, work your plan. But remember, it's always important to have fun with it.

[00:12:21]>> I agree with that, and you bring up a good point. It is a long-term investment. It's a long-term hold. And I think a lot of people when they bought silver a few months ago, they're thinking, "Oh, I can just flip it in a couple of months, make a profit, but really when it comes to stacking, you should be trying to hold this stuff for years and even decades."

[00:12:39]>> Yeah, definitely. And I know you've heard Harry and Knight say, you know, work your plan, especially when we see these high spikes in the metals. We always like to caution people and say, hey, look, you know, don't get overly excited. Work your plan. Work a budget.

[00:12:50]Even if you have an unlimited budget, it's good to budget yourself and set a limit of, hey, look, I'm going to put this much into silver or this much into gold and just kind of see where the market goes. That way, you don't, you know, just dive into one thing 100% and and potentially hurt yourself.

[00:13:04]>> Do you agree with that, Harry? It should be a long-term hold.

[00:13:06]>> Definitely long-term. In fact, I'll give you the flip side of that. Late yesterday, we were just about getting ready to close and a young man came in and he said, "I don't trust banks and I I want to put my money into silver for the next year." I said, "Why a year?" I knew what we what he was going to say.

[00:13:20]He says, "Well, my wife and I are going to buy a house in a year and I don't want my money in the bank. What do you guys think?" And we're all shaking our head and I said, "Leave your money in the bank." If you truly are saving for a house, maybe putting together a down payment, you do not want to put your money into anything volatile like the the precious metals for a mere year and expect to come out ahead. You could, if you have a short-term goal, like buying a house, absolutely do not buy precious metals or stock or anything else that's volatile, but rather leave it somewhere safe, so you know it'll be there the day you and your family need it.

[00:13:55]>> That's true. I mean, the thing about inflation is it is pretty predictable. I mean, yeah, you're going to lose two or three or 5% every year, but that's the most you can lose right now anyway. One year with a goal in mind of buying a house or a car or some other special thing is not the time to invest in silver or gold. It's just the wrong move. Like Adrian said, if you can't see your way clear to hold this for years, it's a bad move.

[00:14:18]>> So, that would be a good reason not to buy silver if you want to use the cash in a short time period.

[00:14:24]>> If you have it earmarked for something else, it's a foolish move. And and it's not just the precious metals. It would be artworks or collectible cars or growth stocks. Anything that's volatile, you want to when you have a a plan for your money on a specific date in the near future, don't put it at risk. Make sure it's there when you need it.

[00:14:43]>> That's good advice, Harry. One reason not to buy silver.

[00:14:46]>> Yeah, that's what I'm here for.

[00:14:49]>> You know, we're just keeping it real because if I mean, we could have happily been like, "Hey, yeah, you know, put all your money into it. You got any more in the bank? Come go, you know, go get it and bring it back." But no, I mean it's people trust us to, you know, help them with their decision making, which I don't recommend to have anybody help you make your decisions. Uh you should make your own decisions, but like Harry said, yeah, it's, you know, just be cautious.

[00:15:09]>> Well, I think that's great advice, Harry, and uh I really appreciate the time. Good to see you.

[00:15:13]>> Of course. Great to see you. Good to see Adin.