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So these countries that want to do
less business and dollars are having a hard

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time doing that. But what they
can do is buy gold as fast as

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they want to, and that's what
they are doing because gold and a vault

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can't be sanctioned. And over the
last ten years, central banks have been

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buying about five hundred tons of gold
a year. In the last two years

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they've double that to over a thousand
tons, And this to me is really

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material at the margin, and I
do think that this is what's helping to

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drive this gold market higher and what
has caught the experts off guard. You

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00:00:30,920 --> 00:00:36,159
are listening to Carrie Letz's Financial Survival
Network, where you get valuable information you

10
00:00:36,359 --> 00:00:41,600
just can't find anywhere else to thrive
in today's trying times. You need the

11
00:00:41,640 --> 00:00:48,159
Financial Survival Network now more than ever. Go to Financial Survivalnetwork dot com and

12
00:00:48,240 --> 00:00:54,719
get your free newsletter and gift.
Financial Survival Network now more than ever,

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00:00:58,200 --> 00:01:02,799
and welcome. You aren't listening to
and watching the Financial Survival Network. I'm

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00:01:02,799 --> 00:01:07,079
your host, Carrie Lutz. Well, our good friend Data Samuelson is with

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00:01:07,159 --> 00:01:11,680
us from American Gold Exchange. You
find him at a mirror a M E

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R Goold dot com and Hey,
if you got a question, comment,

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or you got something you'd like to
share, just shoot me an email kl

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at Carrie LUTs dot com. Dana, it's great to have you back on

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the show. I wish I could
say a lot happened between now and the

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last time you were on, but
not a whole heck of a lot.

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It's we're back to the normal precious
metal markets where pretty much you're watching paint

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dry. Well, nothing's really normal
these days, Carrie. But yeah,

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we're in a consolidation phase where things
are a little quiet after a really exciting

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March and April into May for precious
metals, right, So is this just

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a little reprise, a little pit
stop along the way to five thousand?

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What's your take here? Oh?
I think that gold the fundamentals that are

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driving gold, there's a lot of
them that are all in place at the

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same time right now, which is
unusual. And I do think we're going

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to see gold go substantially higher over
time, and a double from here is

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entirely likely over the next couple of
years. I'm argeting right now twenty seven

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to fifty to three thousand over the
next twelve to twenty four months myself.

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Hey, well, you know,
like when you see the headlines on the

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mainstream financial news, they always say
experts surprised about gold sudden increase. You

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know, the experts are always taken
by surprise. If there's such experts,

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why are they surprised at anything?
Correct, Well, markets make moves you

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don't expect sometimes. But as I
said earlier, we've got a lot of

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drivers all in place at the same
time. Fundamentally, you've got debt which

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is just ever increasing, especially in
the US, and that's the main big

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picture driver over the last twenty years. Now, we've got two wars going

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on, so gold climbs the wall
of worry. And it happened to peak

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coincidentally or not not coincidentally, with
Iran and Israel exchanging direct shots for the

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first time ever in April. Thank
god, we walked back from that a

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bit. You've got the potential for
a US recession and falling treasure yields and

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falling interest rates and perhaps some more
economic stimulus, which I think could give

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the gold market a real big tailwind
if and when that occurs. And I

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do think a recession is in the
cards for the US consumer spending is seventy

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percent of the economy, and the
consumer is pretty stretched out right now with

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record debt and record low savings and
who else. Who knows what other wild

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cards might be out there right now. And that's everything you mentioned there.

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None of that really qualifies as a
black swan here. Imagine if a black

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swan gets mixed into the equation exactly. But it's unusual to see all of

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these things coming together at the same
time in the same place. And I

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didn't even mention records central bank gold
buying. You know, central banks have

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doubled their gold buying over the last
two years. They want to get out

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of the dollar of the countries that
are afraid of being sanctioned by the US,

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like we sanctioned Russia after they invaded
the Ukraine. So there's this big

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d dollarisation movement, but practically it
can't really happen because there's no viable alternative

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to the dollar. The dollars entrenched
in the financial system. So these countries

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that want to do less business than
dollars are having a hard time doing that.

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But what they can do is buy
gold as fast as they want to,

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and that's what they are doing because
gold and a vault can't be sanctioned.

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And over the last ten years,
central banks have been buying about five

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hundred tons of gold a year.
In the last two years they've double that

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to over a thousand tons, And
this to me is really material at the

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margin, and I do think that
this is what's helping to drive this gold

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market higher and what has caught the
experts off guard. Yeah, so golden

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of all can't be sanctioned, and
that's another kind of way of just saying

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that there's no counterparty risk here.
Exactly. That's gold's greatest attribute. It's

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got no counterparty risk. So you
think it's a bargain here at to twenty

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three twenty and change, Well,
I do think that we are in a

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bull market that's going to continue.
And it's a little hard to wrap your

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head around buying something at an all
time high, but when you think the

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market's just going to keep going higher, I do believe it's a good deal,

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especially at around twenty three hundred.
If we get a little cheaper,

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I think there'll be a lot of
buying coming in at the first If the

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numbers are twenty two something, I
do think silver, Yeah, I do

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like silver better as an investment at
these levels because gold it's about fifteen percent

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above its previous all time high in
twenty eleven, while silver is about thirty

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percent, still under its previous two
all time highs and right around fifty dollars

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announce in about twenty nine to fifty
today, Silver to me seems to be

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the better value because silver lags and
then plays ketchup, and when it plays

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ketchup, it tends to do so
with a vengeance. So we see that

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a couple times over the last four
or five years, and it's but right

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now it's it's in a bit of
consolate of a consolidation phase, just like

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gold is. How far do you
think silver can go? Oh, I

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think silver could easily get over forty
dollars. In fact that this gold price,

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00:06:46,160 --> 00:06:50,959
I'm surprised silver isn't already over forty
dollars. I think forty to forty

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five is a range I'm targeting in
my own mind. So you're thinking triple

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digits here, I do think sixty
to seventy five dollars silver is entirely possible.

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00:07:03,480 --> 00:07:06,720
Triple digits is a bit of a
stretch for me. I don't like

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00:07:06,759 --> 00:07:12,399
to look too far over the horizon, because things can change. But I

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do think, you know, one
hundred dollars silver is entirely possible given enough

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time. Really one hundred dollars yeah, well it could go even higher than

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that, right, I mean when
you start thinking about what's in the ground

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and the fact that you know,
we're in silver deficit now, right right,

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00:07:31,680 --> 00:07:34,120
Yeah, for the last two years, we've been in a fundamental supply

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deficit where the world's consuming more silver
than it's mining, and there's a lot

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of silver use in EVS solar panels, so that demand factor is likely to

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increase. And silver is not really
an economical metal to mine. It usually

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comes as a byproduct of other metals, as mars, I remember, if

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I remember correctly, so, I
do think silver is a better Yeah,

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00:08:01,199 --> 00:08:05,120
around thirty bucks an ounce. That's
a great deal right now. Usually it's

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a byproduct of copper and other base
metals. Of course, certain countries like

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Mexico, Peru, a few others. You know, there's a few pure

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00:08:18,480 --> 00:08:24,480
silver mines still kicking around. There's
a few under development out there, but

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like you say, generally not that
economical unless you're talking at about Bonanza grades,

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you know, like kilo pertn silver. Then it becomes very economical.

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You know, some of the largest
silver mines in the US have been shut

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down over the years for that very
reason. So it's going to be interesting

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to see if silver rises again.
Certainly at one hundred dollars an ounce,

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it becomes very economical to produce.
Right, We'll see some greater a lot

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greater exploration if number gets that high. All right, So when we're looking

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00:09:03,919 --> 00:09:09,320
at you know, how you buy
it, what's your favorite means of buying

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00:09:09,360 --> 00:09:13,279
it? I mean, I know
that depends upon your your particular circumstances,

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00:09:13,279 --> 00:09:18,639
but somebody just getting into it Joe
sixpack, for instance. I'm a physical

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00:09:18,759 --> 00:09:24,960
precious metals dealer. National Physical Precious
Metals Mail order Company is my business.

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00:09:24,000 --> 00:09:28,960
So we deal in the sovereign minted
one ounce coins, which are really just

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00:09:30,120 --> 00:09:33,960
round bars made by the US Mint, Canadian Mint, Austria, and Mint.

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00:09:33,240 --> 00:09:37,120
Those are the big three, both
in one ounce gold and one ounce

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00:09:37,159 --> 00:09:41,799
silver. I call them vanilla,
chocolate and strawberry simply because of their most

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00:09:41,879 --> 00:09:48,759
widely traded, competitively priced, and
easiest to sell when you want to sell

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00:09:48,759 --> 00:09:52,840
what you've already purchased. I favor
the US mint products over the Canadian and

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the Austrian But we've had situations over
the last few years when demand has been

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really strong in the US, mint
cannot eep ace with demands, so we've

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00:10:01,759 --> 00:10:09,440
seen premiums higher for US ounces of
gold and silver US eagles than we have

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00:10:09,600 --> 00:10:11,639
for maple leafs and philharmonics. And
when that's the case, I say buy

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00:10:13,000 --> 00:10:18,360
the cheaper of the three alternatives.
That's what I truly like the most.

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00:10:18,840 --> 00:10:22,600
So you know, there's a lot
of fake stuff out there, fake gold,

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00:10:22,840 --> 00:10:26,519
counterfeit bars, counterfeit rounds, and
the same with silver. I've even

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00:10:26,519 --> 00:10:31,600
heard recently some of them popping up. It's the best way to avoid fakes.

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00:10:33,240 --> 00:10:39,120
Deal with a long standing dealer who's
been in business for decades. You

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00:10:39,159 --> 00:10:41,440
know, I'm an old timer.
Deal with someone who's got a lot of

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00:10:41,519 --> 00:10:48,879
experience. Do not buy on auction
online platforms or through private chat groups.

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00:10:48,919 --> 00:10:52,399
That's really where most of the trouble
is. I'm a member of the Professional

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00:10:52,519 --> 00:10:58,440
Numismatists Guild, which is the leading
organization of rare coin dealers in the country.

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00:10:58,440 --> 00:11:03,679
In fact, I was pressed of
the Professional Numismatist Guild when this Chinese

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00:11:03,720 --> 00:11:07,799
counterfeiting problem came to light, and
I helped to conceive of and establish the

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00:11:07,840 --> 00:11:15,320
Industry Anti Counterfeiting Task Force that today
works with Homeland Security and Secret Service to

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00:11:15,879 --> 00:11:22,519
interdict shipments of fake precious metals items
coming in from China. A real dealer

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00:11:22,559 --> 00:11:26,360
that really knows what he's doing can
spot fakes a mile away. They're so

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00:11:26,519 --> 00:11:31,000
far different than the sovereign minted products. It's easy for us to see the

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00:11:31,080 --> 00:11:35,080
difference. But if you're not used
to looking at these metals, you could

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00:11:35,080 --> 00:11:41,919
be fooled. And this is why
I don't really recommend refinery made bars one

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00:11:41,960 --> 00:11:48,639
ounce gold bars or silver one ounce
bars in particular, primarily gold bars actually,

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00:11:48,720 --> 00:11:52,360
because the Chinese can replicate those more
readily. The designs are less intricate,

146
00:11:52,879 --> 00:12:00,000
and they're easier for the Chinese to
pass off a bad hungsten core bar

147
00:12:00,039 --> 00:12:03,519
plated by gold. Uh. The
sovern Mints have added tiny, little minute

148
00:12:05,159 --> 00:12:09,720
design elements into their striking features of
the coins to make it harder for the

149
00:12:09,799 --> 00:12:13,159
Chinese to knock them off to replicate
them. So the soverer mints are trying

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00:12:13,200 --> 00:12:18,519
to defend their own product. Uh. So what if somebody comes to you

151
00:12:18,799 --> 00:12:24,080
with some rounds, say some silver
rounds is you know, I've heard even

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00:12:24,200 --> 00:12:28,320
that they're replicating the weight now almost
precisely in these fakes. Right, we

153
00:12:28,399 --> 00:12:31,399
have ways of testing them to make
sure they're real silver. We have density

154
00:12:31,440 --> 00:12:35,399
measuring devices. Uh, there's a
couple other little tricks that we have.

155
00:12:37,200 --> 00:12:39,559
You know. One thing is sound. You know what, I go through

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00:12:39,720 --> 00:12:43,679
inventory that I have not sold that
I'm buying back by buying from someone.

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00:12:45,440 --> 00:12:50,440
These coins that are pure silver have
a very specific ring to them. Pay

158
00:12:50,519 --> 00:12:52,639
man. I can hear it to
literally hear it when they hit each other.

159
00:12:54,559 --> 00:12:56,679
The ping test. Yeah, yeah, well it's just ding ding ding

160
00:12:56,759 --> 00:13:03,720
versus funk funk funk. Yeah.
So what about those guns, those X

161
00:13:03,840 --> 00:13:07,679
ray guns? Those are good.
Yeah, XRF guns are good, but

162
00:13:07,720 --> 00:13:11,919
their cost prohibitive. They cost about
twenty grand and they're a bit of an

163
00:13:11,919 --> 00:13:18,679
overkill unless you're doing a lot of
buying of metal that you really don't know

164
00:13:18,240 --> 00:13:24,320
what it is, I mean,
purity wise, like jewelry other things.

165
00:13:24,960 --> 00:13:28,720
But they're good for testing for fakes
as well. And scanners too, any

166
00:13:28,759 --> 00:13:33,480
scanners you like out there. Well, there's one device that we use as

167
00:13:33,519 --> 00:13:37,519
an industry called the Sigma SYGM and
a Yeah, we use the Sigma device

168
00:13:37,720 --> 00:13:43,759
mostly and a lot of it's just
looking at coins and knowing what's you know,

169
00:13:43,000 --> 00:13:48,120
I've seen hundreds and thousands and millions
of ounces of gold and silver,

170
00:13:48,639 --> 00:13:52,440
so I just know what the various
mints products look like, sound like,

171
00:13:52,000 --> 00:13:56,919
feel like, yeah, feel like
too. And it's kind of like a

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00:13:56,960 --> 00:14:01,399
bank teller when they get those counterfeit
bills, they feel so many you know,

173
00:14:01,720 --> 00:14:05,679
like you say, millions of dollars
of currency going through their hands and

174
00:14:05,720 --> 00:14:11,840
then it just hits their hits their
figure tips and they just instantly know.

175
00:14:11,480 --> 00:14:18,919
So that expertise is a good reason
to buy from a accredited, acknowledged source

176
00:14:20,039 --> 00:14:24,120
like yourself, right right. And
there's a lot of good dealers around the

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00:14:24,120 --> 00:14:28,960
country in the US that RP and
G members professional and Mismatistic Guild members.

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00:14:28,000 --> 00:14:33,320
We tend to be the leaders in
the industry with the most experience. Yeah,

179
00:14:33,440 --> 00:14:35,480
I bought from you many many years
ago. I haven't bought metals much

180
00:14:35,720 --> 00:14:41,600
in the recent years, no need
to, but you know I bought from

181
00:14:41,600 --> 00:14:46,559
you probably back around two thousand and
eight or nine ten in that area,

182
00:14:46,960 --> 00:14:52,559
so very happy with the service.
They just tell us, Dania, Dana,

183
00:14:52,759 --> 00:14:54,679
where we find you, how we
connect with you on the web.

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00:14:56,120 --> 00:15:01,200
Find out more about about your company. So again, we're American Gold Exchange.

185
00:15:01,399 --> 00:15:07,639
Where willis We're in based Boston,
Texas. We're in our twenty sixth

186
00:15:07,879 --> 00:15:13,519
year this year. Website is a
M E R g O l D dot

187
00:15:13,559 --> 00:15:18,320
com. People can email us at
info I n f O at A M

188
00:15:18,360 --> 00:15:24,720
E R G O l D dot
com. Phone numbers eight hundred six one

189
00:15:24,919 --> 00:15:28,440
three nine three two three if you'd
like to give us a call. All

190
00:15:28,559 --> 00:15:33,720
right, excellent. Hey, really
appreciate you coming on data again and uh

191
00:15:33,960 --> 00:15:37,519
talking about this. I think a
lot of valuable info there. If you've

192
00:15:37,519 --> 00:15:41,639
got a question for Data myself,
shoot me an email KL at Carrie Lets

193
00:15:41,679 --> 00:15:46,440
dot com. The link to data
sites and the show that's this interview on

194
00:15:46,559 --> 00:15:50,200
Financial Survival Network dot com. And
while you're there, please sign up for

195
00:15:50,240 --> 00:15:54,720
our free newsletter at Data. Always
a pleasure. Thanks for the info.

196
00:15:54,000 --> 00:15:58,120
Thank you, Kerry. Great to
see you again. Thanks for listening to

197
00:15:58,240 --> 00:16:03,360
Carrie Lets's financial service Bible network your
solution to today's trying times. For the

198
00:16:03,440 --> 00:16:11,320
latest, go to Financial Survivalnetwork dot
com. Financial Survival Network now more than ever