Look At What It Takes To Mine Silver

This video should make you appreciate what goes into making that silver coin in your hands.  Think about the amount of luck, energy and skill goes into refining silver.  In a truly free economy the amount of energy put into that one ounce silver should “buy” an equal amount of energy in another product. Let me know if you think that one ounce of silver should be the equivalent to 4 cheese burgers after watching this video.  And remember this is just the mining phase of it and does not include the further refining necessary to mint a beautiful 1 ounce coin.

BTW I just made the largest purchase of silver in 6 years, as I continue to dump gold for silver.  We are in for a wild ride in 2012 as people realize the scariest three words in the English language, Counter-Party-Risk.  Your wealth is not safe anywhere except what you hold in your hands.

19 comments to Look At What It Takes To Mine Silver

  • marz

    I wanted to know this since so long…thank you.

  • howard

    u notice how much of the work is done by machiens? can u imagine if man power was needed to crush them rocks?

  • Dave

    One word….WOW

  • Gareth

    Throw expensive oil into the equation…….

    Good vid

  • Argentum

    Jeez, what a pain in the @$$ that has to be. Very informative. It’s nothing like gold mining looks to be on Gold Rush.

  • marz

    2010 production/costs gold/silver Minera Andes project in Argentina (CEO of Minera Andes is R. Mc Ewen, Canadian Founder of Goldcorp):

    http://www.minandes.com/Presentations/default.aspx

  • lastmanstanding

    Good analogy on the 4 cheeseburgers vs a 1 oz. silver round to put things in perspective. Image how many humans were sacrificed to get it long ago and the value that it had…

    Anything that comes from the earths crust should be highly treasured.

    …its only 1 cheeseburger in Europe…i met a couple this summer from Scotland on vaca. we had a great discussion and during it they said that a whopper or big mac meal was nearly $30 usd…not to mention that a pint of “shitty” beer a their local pub was $15 usd…

    perhaps Gareth could provide conformation?

    Our day is coming.

  • Prudentis

    4:1? How much does a cheesburger in the US cost?
    I guess about 1$? That would be more like 30:1 than 4:1 and if you consider all teh costs that go into making a burger, the comparison doesn’t look that bad.
    After all food is another commodity, that will significantly gain in value during a crisis.

    As to Europe:

    A bigmac menu costs 6,99 EUR in Germany (about 10$)
    A cheesburger about 2,- EUR (less than 3$)

    No idea about scotland but I guess 30$ is rubbish

  • Silver Shield

    @prudentis
    Those burgers easily go for $7.50 at a restaurant

  • Gareth

    @lastmanstanding: Sounds like the Scotts you met were having a little fun with you. A big mac meal is around £4, so about $6.25.

    However, our silver purchases are expensive. To get delivery on a single ounce would cost around £30, or $48 approx.

    You can get half-decent cheese burgers from some kebab shops for around £3, or $4.70. Fries come free.

    Chris mentions cost in a restaurant, and then they prob would be a little more at around £4-5. That would be a 1/4 of the spot price, but unless you spend time making bids on ebay for ‘junk’ silver, you’ll pay around £30 per ounce, not the £19 spot price. Many bullion merchants mark-up by 50% unless they big merchants. The big merchants, however, have a minimum order – usually around 10oz or one tube.

    In Finland it’ll probe be about $10 dollar for a burger. It’s around $10 for a beer in Finland. I know coz I’ve lived there for a couple of months.

    I think the Scots were teasing ya, bud :-)

    Merry Christmas

  • marz

    @Gareth
    “However, our silver purchases are expensive. To get delivery on a single ounce would cost around £30, or $48 approx.”
    Silver prices in Buenos Aires (Argentina): Mexican oz. Libertad USD 65 (or more); American Eagle USD 70-100+. Way over 100% spot. Now, that´s what I call expensive! And the name of the country means “of silver” (argentinus)! Anybody willing to do some business here? Bring some Eagles. Flight costs covered with 25.

    http://coleccionables.mercadolibre.com.ar/monedas-universales/-onza-de-plata_AuctTypeID_AFP

  • Gareth

    @marz: wow, expensive! Thought we were ripped-off. Could you not-nip over the border to get some eagles?

  • marz

    @Gareth
    I did! but they´re too beautiful to get rid of. It´s terrible when I want to buy, though, so whenever a friend goes to Mexico, USA, Germany, etc. I make them bring me a few. Only way to pay something near spot, unless I buy scrap, which is .925 or less. C´est la vie.

  • bs

    strong case for silver ?

    :)

  • Bob

    Great video–very informative. Dave nailed it: WOW.

  • Roman

    One thing they didn`t mintion is that 90% of world silver is being refined as secondary or “parasite” product while producing other metals like Fe, Mn and Cu. Hence the low overall cost. I guess there are less than 10 actual working silver mines all in Americas and India…

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