You can buy a registered 100 oz bar from Kitco right now for 40.88 per ounce.
Probably not ... at least not without a lot of conditions including delayed delivery.
Kitco also lists Silver Eagles for sale at $42.41 (as of the time I write this). The problem is that Eagles are unavailable at the present time. The mints simply cannot find silver blanks. They expect to have the rounds in about four weeks ... but have been saying the same thing for the past two months.
Remember, there is a huge difference between paper silver and physical silver. Right now physical silver is extremely difficult to find as per Gresham's Law.
It's about $38 as I write this, but the Evil Empire has been working overtime to get there and they appear to be running out of options.
To begin with, they unexpectedly hiked the margin requirements again ... twice. This is unprecedented and should have sent silver through the floor. Instead, the market went down slightly, but only after the bankers sold massive amounts of shorts. According to Harvey Organ:
The total silver open interest shocked the living daylights out of bankers today. The total OI rose by 1340 contracts. The bankers were hoping to see huge number of silver leaves fall from the tree. They were shocked as there was no liquidation whatsoever. I guess that was the reason for another raid today.The estimated volume at the silver Comex today was 152,930 with no switches. (this represents 765 million oz or over 100% of annual silver production). The confirmed volume yesterday was an astonishing 179,916 or close to 900 million oz of silver.
Unfortunately for the bankers, when you sell a commodity on the Comex, or any exchange for that matter, you have to deliver the physical product eventually.
To many, including this country bumpkin, default looks inevitable ... and when that happens ... look out.