Transcription
Hello everybody and welcome into Commodity Culture, where our goal is to make you a better investor in the commodities sector. My name is Jesse Day. Today is January 28th, 2026, and my guest today is an expert in the precious metals space, the president and CEO of Can-Am Currency Exchange and Can-Am Bullion, and the host of the Gold Awakening podcast. It's Michael Pachoni. Great to have you on the program.
>> Thanks for having me, Jesse. Looking forward to it.
>> I am as well. We have to kick things off with silver now at around $114 an ounce. As of the time of this recording, it seems that there has been a lot of renewed interest in the metal, particularly if we look at social media. I was recently at the Vancouver Resource Investment Conference. It was packed, a lot of that driven by this triple-digit silver price. However, it has risen so far and so fast to even surpass the expectations of some of the most bullish people in the space. So, I, I, I want to pose the question, is some caution warranted here? What do you see as the main drivers behind silver's move? And how much higher do you think we could go from here?
>> Yeah, I think you always have to have caution, especially with silver. It's a very, very volatile asset, especially right now. It's moving five, six, seven, 8% every single day for a while now. So, I mean, anything can happen short-term. But personally, when you're investing in precious metals, especially if you don't own any right now, I really wouldn't worry about your entry points too much because long-term, the upside in silver is enormous. I'm one of the guys who've been kind of saying four-digit silver for a long time. So, I know a lot of people were the three-digit, yeah, it did get here a little quicker than maybe even I expected. Um, but now that we're here, I mean, there's a lot of people out there who are saying 300 by the end of the year. I think that's in play. I think 200 to 300 US is definitely in play, but you do have to have caution. Silver is very volatile. We could see a 20, 30% correction at any point. I don't honestly think that's going to happen anytime soon. I think we maybe once we get to that $200 mark, we may, may see a pullback then, and that might be months down the line. For right now, I would just say if you don't own metals, I really wouldn't worry about your entry point too much because if you wait for a pullback and wait for a pullback, and if you were doing that the last few months, you would have missed this entire move. So, I would just say get in there. Don't worry about the short-term fluctuations and play your position as a long-term investment.
>> Yeah, that's a great way of putting it to think of the long term. I, I do want to hone in on the fact that silver has not yet received much mainstream media attention. Your average retail investor is still fairly unaware of silver as an investment vehicle or as a means of of protecting their wealth. Now, this is very different when we go between the East and West because in many Eastern countries, China, Vietnam, India, these people understand that silver is money. Do you think that the Western retail buyer, and perhaps you could provide some color here based on on your work with Can-Am Bullion, do you think the Western retail participation is starting to pick up at this point? And could that be a major driver for the next leg up for silver?
>> It's definitely picking up, but it's still, it's still so low. I think last I heard, less than 1% of North Americans own precious metals. So, yeah, we're starting to see a lot of new interest. I mean, we've been lined up outside the door for half of the time over the last few weeks. So, it's, we've definitely seen a big pickup, but it's both ways. We're seeing a lot of sellers, too. So, at the end of the day, we're, we're, we're buy, we're selling a lot, but we're also buying an enormous amount. A lot of these people have been sitting on silver forever, and it hasn't moved for such a long time. So, I don't blame a lot of these guys for taking some profits right now, especially if you've been in since below $20 silver. It's a nice return. Taking profits when an asset goes up is never a bad idea. Um, but yeah, I think, I think the financial advisors, I think in that world, it's still not a popular form of investment. They're not telling their clients to go out there and buy. But we are seeing a lot more people come here and say, you know what, I think stocks are a little toppy right now. I'm a little nervous. And, and you can't ignore the, the moves in silver. I mean, just in the last 13 months, silver's up close to 250%. So, compared to their stock portfolio, you might have made 10 to 15%. You can't ignore silver anymore, especially as a financial advisor. I think, I think you have to put your clients in precious metals one way or another. If it's not physical, buy the mining companies, get some exposure to precious metals. I don't know if that's happening yet, but I think it's definitely going to come. You cannot ignore these returns. I think you're going to see the FOMO continue to pick up as silver continues to go higher, um, over the next few months. So, I, I do think you're right. I do think the retail, but I don't think that's what's moving the market at all. I really don't. The retail market is such a small component of, of the overall silver market. But I think the industrial demand is big, but I think the big money is what's moving this market right now. I, I don't know if the banks have have switched their positions and a lot of them have closed out their shorts and have gone long. There's a lot of rumors about that. JP Morgan's of the world, Bank of America, etc. Who knows what's actually happening behind the scenes, but for the price of the move the way it is, the banks are obviously either going long or closing out their short positions. And I think that's what's driving the market right now.
>> Talk about that a little bit, the manipulation of the silver price through futures contracts, because this is something JP Morgan has been convicted of in the past. It's something that depending on who you talk to, people will have different ideas about how strong of an influence that actually has had on the silver market at present, but I spoke to Ed Steer recently and and he mentioned some similar sentiments in terms of the the bullion banks now switching their short positions, going long. Um, how much of an impact do you think that has had and is this paper manipulation game in the silver market coming to an end? Could that be one of the reasons we're seeing silver soar?
>> Yeah, I, I think it's a big, big part of what's happening right now. I think, uh, I think the banks have switched their position and have started going long because if you continue to be hold on to these short positions as big as they were, I mean, the billions that can be lost in a short period of time are huge, and that's a huge risk to these banks. So, there's also been rumors that Trump forced a lot of these US banks to, uh, to close those positions or back up their positions with physical, and I know JP Morgan, there's rumors that they're sitting on 750 million ounces of physical silver. So, who knows what's actually happening behind the scenes, but this is not retail market that is has nothing to do with it right now. And like you said, the only reason like people say, well, it's a supply demand issue, that's why the price of silver is going up. But that supply demand issue has been here for years, and silver's done nothing. So, at the end of the day, I think it's all about the banks and ch, and moving out of their positions and going long, and, and the Asian markets, I think, have a lot to do with it as well. You're starting to see the Shanghai exchange having huge, uh, disconnect between the price in, in New York at the COMEX. So, you're seeing almost a 10% difference in price with the physical exchange in Shanghai and the paper exchanges in, in at the COMEX. So, I mean, I think that's a big part of it, too. I think the Asian market is, is, is has a big influence on what's driving the market as well. Um, but as far as who the, what banks are doing behind the scenes, it's really, really difficult to say, but I think they're the ones that are moving the price right now. So, be cautious. I mean, they, because at the end of the day, they can go the other way and go heavy, heavy short and, and really tank this market quick. Um, but that'll be a great buying opportunity because long-term, there's no stopping the price of silver at this point.
>> And the one other thing I would touch on is, um, people say, "Well, why is silver moving so much?" Well, silver's got a lot of catching up to do with gold. I mean, the go, the gold price move over the last couple years has been historic, but silver hasn't really done much. So, this last few months, in my opinion, is really just silver catching up to gold. So, now that ratio is down to where a normal number at 45:1, where it started at 120 to 1 just not too long ago. At that point, I was really trying to tell people to really look at selling your gold and moving it into silver because that 120 to 1 didn't make any sense. 45 to 1 is, is, is, is definitely normal. We're seeing a lot of people coming in and selling their silver and moving it to gold at this point. So, that transition has begun, and I think that's going to continue as the ratio continues to go lower, which I do expect.
>> And you mentioned four-digit silver. There's probably only one other person I've talked to on that this show who's mentioned that, and that would be Lynette Zang. Um, how realistic is that proposition in the years ahead in your view? And also, what type of world would that be? Because a lot of people will say, "Okay, sure, silver could go to four digits, but in that scenario, a loaf of bread will be $100, or we'll be in a world full of geopolitical chaos and and massive debasement of fiat currencies." And so, maybe that's not a world that you want to live in. What, what are your thoughts there on that potential trajectory to a four-digit silver price?
>> Well, we'll start with $1,000 silver. In my opinion, it's, yeah, as far as the thousand silver, I think we're going to go to even, uh, much higher than that. Um, one, two, three, even 3,000 potentially. It really depends where the price of gold goes. I mean, a lot of people are throwing out numbers like 20,000 gold. If, if gold goes to $20,000, I think, I think eventually we're going to get to a 10 to 1 ratio. Um, so that would bring silver to $2,000. So, it's not such a stretch. Even if you look back at that 1980 number and you inflation adjust that number of $50 to today's dollar terms, and you use the old way they used to calculate inflation, we're close to $700 US. So, I know people look at that $100 silver now and think it's expensive, and they're like, "Well, I think I missed it." We're not, we're not even close to where silver is going to be going. Gold's not done moving. I mean, we haven't even the recession hasn't even been announced yet. Um, the wars can escalate drastically. Um, the stock market is still near all-time highs. So, I think the, when you'll see silver and gold really move is when stock people get nervous with their stock portfolio. So, right now, the retail market isn't as busy in silver as it should be because I think people are still somewhat happy with their stocks. I mean, they meet with their advisors, they're making their 10 to 15%. In their mind, that's that's good. Um, they don't realize that what's happening in the precious metals market, how much that that's those returns are dwarfing the stock market right now. So, I think you're going to see that trend continue. I know a lot of people talk about the Dow gold ratio, um, where it goes back to one, one, and which has happened multiple times throughout history. I do think that's going to happen. I think you're going to see the Dow and the gold go to one, one again. Where that number will lie, who knows? But I'm thinking somewhere in that $20,000 range, the Dow Jones can fall all that way, and we can see gold go all that way. So, to me, this is the biggest transfer of wealth in history. And I think it's also the biggest opportunity. And if you're stuck holding traditional assets like stocks and bonds and cash, like you said, that inflation is going to eat you up in the future when silver is $1,000 an ounce and gold's $20,000 an ounce. You're not going to be able to get by on your paycheck and, and your stock portfolio and money in the bank. This is, this is people really have to take action now. Um, because if you're just stuck holding the bag, I mean, you're not going to, you're going to have a really, really difficult time making it day-to-day and paying your bills. So, I really, really strongly suggest people who are not in silver yet, you have to start taking a positions, and you have to start looking at your current assets that you hold. A lot of people, most of their net worth is in real estate, the home that they own, or or some RRSPs or 401ks, whatever it might be. But those can go down significantly in a very short period of time once that recession kicks in. We might even head into a depression in a very short period of time. So, there's so much risk going on that, in my opinion, having gold and silver is an insurance policy against your overall net worth, and that's what people have to look at it. So, to not have any, to me, is reckless. I think you have to have five to 10. I'm, I advise up to 25% of your net worth in precious metals because of what's going on right now in the world. I don't think it should always be like that, but right now specifically, I think you got to have a big position in precious metals to be able to to absorb what's coming in the future.
>> Yeah. Well, you know, big money is starting to agree with that sentiment, as we saw the CIO of Morgan Stanley talk about adding 20% precious metals to a traditional portfolio. A big departure from the 60/40 equities bond split. I'd love to get your thoughts on gold here. Now, um, obviously there's a myriad of catalysts driving the sector, monetary debasement, central bank buying, um, government debt and deficits. What, what do you see as the main drivers that behind the sector at present, and just your overall thoughts on the gold market and where you see it headed?
>> Yeah, I'm super bullish on gold as well. I mean, I don't think the central bank buying is going to stop, and I think they're the main drivers of the movement in gold without question. The retail market, again, they're, they're heavily buying silver right now. There's not a huge interest in gold at these prices. People are looking at gold is over $7,000 an ounce Canadian. They can't fathom paying that for one ounce. So, they're, they're really, uh, they're buying silver at this point. So, I mean, I think it's the central banks that have been moving the price of gold because they're buying record amounts, and they know the game's over for. I mean, the whole world knows they're not, they're selling their US treasuries. They're getting out of the US dollar, and they're moving into into gold. I mean, just look at the performance of gold over the last few years. I mean, why would you want to own bonds? Why would you want to sit in US dollars and take on that kind of risk? And I think you're already seeing that the whole world is, China, Japan, I mean, the whole world is selling US treasuries. And I think that's just going to continue as the dollar continues to collapse like it has been over the past few months.
>> There's been a lot of talk about gold potentially re-entering the monetary system in one form or another. We obviously have the narrative surrounding BRICS and their potential to trade among member nations with a gold-backed currency. There's talk about gold-backed 50-year and century bonds being issued by the US. Possibility of digital gold on the blockchain backed by physical being used to transact. I think the World Gold Council is actually working on that right now. Um, how do you see the monetary future of gold unfolding up ahead?
>> Oh, it's a good question. Um, I definitely think gold is going to be a part of our monetary system. How, how that all unfolds, it's really, really difficult to say who's going to be first. I know BRICS is really close to to that unit getting started, they're going to be backing it by 40% gold. So, in my opinion, I mean, all the talk about Trump and gold and, uh, I think, I think there's something to that. And I think under Trump's term, I think you're going to see something happen with gold, whether it's a revaluation, whether they back the long-term treasury market, the US Treasury market by with gold using blockchain technology. That's probably the most likely scenario. I know Judy Shelton mentioned that with Andy Scheckman, um, as far as July 4th, the 250th anniversary of the United States. Um, I think there's a very good possibility of seeing something like that happen. But in the end, if you look in the history, fiat currencies, they always collapse, and they always go back to a gold standard. So, it's just a matter of how it's going to play out. Is it going to be the United States first? Is it going to be BRICS nations first? Or is it going to be a global currency backed by gold? Almost impossible to say what's going to happen. If I had to guess though, I think Trump's gonna, I think the United States is going to get ahead of BRICS and they're going to do something with gold before the rest of the world. So, that that makes them a much stronger country. And I think revaluing gold to say $20,000 an ounce by the United States would be a really, really strong, powerful move by Trump. And I, I do anticipate something like that occurring.
>> I want to follow up on that because what would you see as the potential effects of a gold revaluation on the balance sheet? I believe now it's, it's valued at some incredibly low number. Um, if they were to revalue that either market-to-market or revalue it to some level such as $20,000, how would that affect ripple throughout the rest of the gold market? Would other countries then have to follow suit and revalue gold themselves? And what do you think the impact would be?
>> Oh man. Yeah, I think the rest of the world would have no choice but to follow because you can't just reset the price of gold to 20,000. What, what that means is the United States is willing to pay anybody for their gold $20,000. So, why wouldn't you sell your gold at $20,000 if it's currently sitting at 5,000? I mean, to me, it would be a no-brainer. And I think it h, I think if it did happen, then yeah, the whole world would would would join and have no choice but to follow that market. I mean, who knows where the price would go after that. I know when they revalued it from 20 to $35, um, back in, I forget what year it was, 33, um, after that, I mean, the, the market really shot up. So, if they revalue it to 20,000 gold, my guess is it's probably going to go much higher than that after the fact. So, I don't know, it'll be interesting. I think it's, uh, yeah, I think if they reset it to 20,000, it would help the US balance sheet by six, seven trillion, which is a big amount, but a lot of people say, you know what, then to be able to pay off their debt, etc. They're not, they're not going to be paying off that debt ever. I mean, even if they revalue the price of gold, they're going to hang on to that gold, they're not selling any of their gold so that they can pay off their debt. That's, that's a fallacy. I don't believe that at all. But it would give the perception of the United States as a stronger country because they are the largest holders of gold by far. And who knows how much hidden gold that the United States is sitting on as well. So, that's a whole other story. And I'm sure China is sitting on an enormous amount of gold that nobody knows about as well. So, it should be interesting to see how this all plays out. But I don't, I don't think it's just going to move to the East and the East is going to be the new powers. I think the United States is not going to go down without a fight, and, and gold's going to be a part of that fight in my opinion.
>> Let's discuss how Can-Am Bullion fits into this picture. Why don't you start by giving us an overview of the company and the products and services you offer when it comes to precious metals?
>> Sure. We're, we're a local, uh, currency exchange and bullion company out of Windsor, Ontario, Canada, border city to Detroit, Michigan. Um, so we've been here for about eight years. We have an online precious metals store that we service all of North America. Uh, foreign exchange, we service all of Canada. Um, so, yeah, we've been, uh, in this market for a while. The first few years on the precious metal side was a little quiet, I'm not going to lie. Um, but the reason I sell it is because I'm so passionate about it, and I, and I, I was a financial advisor, and I was pushing gold and silver as a financial advisor very aggressively. So, I thought, you know what, why don't I just sell gold and silver as opposed to just telling people to go out there and buy it. Um, but what we've seen in the last, uh, last few months is is historic in my short experience, and I think it's just the beginning. I still think we're going to see a five to 10-fold increase in the interest at the retail market. Precious metals is like I said, only 1% of North Americans are invested in precious metals, and I think that can get all the way to 10%, like it was in 1980. So, it, it's fun to see the, the, the excitement and the, the interest in precious metals at this point. It's also exciting because a lot of these people that are coming back and buying for the third, fourth, fifth time, they're looking back and they're like, >> they're very happy. They're excited, and, uh, because they've been, they've been holding on to the silver for a long time, and it's done nothing. It's been a terrible investment over the past several years, and now all of a sudden in the last few years, it's really starting to take off. So, I know I've been screaming about silver for a long time, and, and not a lot of people trusted me and believed in me because it just sat there for years doing nothing. Now finally, it's starting to break out like I have been expecting for quite some time. So, I think that's why it's moving as fast as it is as well, because they've kept it suppressed for so long, like you said, by the, uh, JP Morgans of the world, suppressing that market. So, I mean, if you get the suppression out of the way, I think we're going to be somewhere between 500 US and $1,000 US silver. That's what I think it should be valued at today. So, I think that's why it's moving so quick. I think it's just catching up to where it should be priced at.
>> I want to get into a topic that is sometimes controversial among stackers, and that is the idea of precious metal storage, vaulting your metals. A lot of stackers like to say, "If you don't hold it, you don't own it." At Can-Am, you offer precious metal storage. Um, walk us through how you store your bullion and why customers who vault their metals with you should feel safe and secure that their metals are there when they need them.
>> Yeah, for sure. We offer multiple options when it comes to storage. Uh, we have access to vaults all over the world, Switzerland, United States, Canada, etc. Um, where those are all Brink's vaults. They're, they're very, very secure. They've, they've been around for a long, long time. Um, we also offer local storage here in Canada. Um, people, most people prefer that because they want to be able to access it in a really quick manner of time. Um, we don't lease out your gold or silver. We hold on to it. We know it's, it's safely secure. You can come in anytime. You can just call and come pick it up the same day. Um, so it's very, very secure. We have the top-of-the-line security systems, top-of-the-line vaults. Um, so that's just going to continue. We're actually moving to a whole new location where we're going to have bigger, bigger vaults, uh, much larger walk-in size vaults. So, we're going to, because the, You're 100% right. A lot of people don't feel comfortable storing their silver at home. Um, personally, I always recommend, take it with you, store it in your house, store it wherever you want, make it, because like I, I do believe that if it's not in your possession, I mean, you really don't own it. Again, we offer storage services, but I still try to steer people towards keeping it in their own possession because you just never know. These vaults, yeah, especially the vaults. Like a local store like me, you're, I think you're more safe, but these vaults like it, at some point, if they, the government comes out and says they want to seize everybody's gold and silver. Well, the first place they're going to go is these vaults. So, those vaults will be shut down, and they're going to take your gold and silver, and they're going to pay you out for it. And, and that's what, and that's what happened back when they revalued it from 20 to 35. You were forced to sell your gold at 35 bucks back in the day, you would have been really, really mad because the price of gold just really exploded shortly thereafter. Um, so I would say, I mean, both are good options. Um, but personally, I recommend holding it in your own possession for sure.
>> I want to talk about goldbacks for a moment here as a potential way to purchase gold because with gold at over $5,000 an ounce here, a lot of the retail crowd is looking at that and going, "Okay, that's too expensive." Which is why they would maybe turn to silver. But if you want to get ownership of physical gold in your possession in smaller denominations, goldbacks are an interesting way to go. I wonder what your thoughts are on the role of goldbacks in the gold market. And do you think they could ever actually be used for transactions in, in day-to-day life?
>> I do. It's already happening. I mean, in Utah specifically where they started, uh, there's thousands and thousands of businesses that are accepting goldbacks as payment. So, I, I did a podcast with Jeremy Cordon from Goldbacks, the founder of that. And, uh, they're, they're doubling every single year in terms of popularity. So, I mean, if they continue to double every year in popularity, it, it could be a real, real threat to our current, um, system that we have. I, I think it's an amazing product. I love it. Um, when people see it, they're floored by it. They're just, they look at it and they're like, "That's actual gold." I'm like, "Yeah, it's 99.9% gold. It's, it's blasted on the polymer, and it's, they're beautiful." Um, when you, I, I give them out as gifts a lot, Christmas time, stuff like that, and people look at them and they're just, they're floored by it, and they, they, they love the look of it. They love the concept of it. I mean, if more people really knew what goldbacks were, I think, I think the popularity of it could explode. The only problem with goldbacks at this point right now, in my opinion, is the premiums are really high. So, for me, if you're looking to buy a big position in gold, I wouldn't be buying goldbacks. I would buy goldbacks as more of a, if the system were to shut down and you needed cash to use, or you want to pay your hairdresser in something other than cash, paying them with goldbacks is a cool concept, or even anybody doing a cash job for you at your house, paying them in goldbacks, I think is, is a really cool concept, and it's a way to bring it, make it more mainstream and make it popular. So, I think the more people use it, I think the better it is. But again, if I'm putting $100,000 into gold, I'm probably only putting 5,000 into goldbacks. The rest is going to be into, uh, bullion, one-ounce denominated bullion.
>> And what about the question of stacking gold versus silver right now? Because obviously with silver running as far as it has, you mentioned you had some people selling silver to then put that into the gold market. If you were, let's say, a new stacker or or somebody who was just getting started, where would you focus your attention right now if you were looking at the gold? Obviously, you want to have both, but I guess the ultimate question is, is silver still as undervalued versus gold? Um, in, in terms of how you would approach it right now?
>> It's a little different, but I'm still going to tell you to buy silver over gold. I do think that ratio of, it's 45:1 right now, I do think it's going to come all the way down to 10 to 1. I mean, historically speaking, back in the day, for over a thousand years, it used to be 16 to 1, and it used to be based off of how many ounces were coming out of the ground, and they mined 16 ounces of silver for every 1 ounce of gold. So, there, there's got to be some truth to that if it happened for over a thousand years. Um, and right now they're mining silver. The rumor is 7 to 1. Keith Neumeyer is the one who's really been promoting that. So, in, in my view, we probably will get to a 7 to 1 ratio at some point. And if we do, that means gold, silver would outperform gold by 600% or so. So, for me, I think there's a lot more upside in silver. And I also think the silver in the world can run out. Gold, I don't see that ever happening. I mean, there's so much above-ground gold in the world, and there's probably a lot of hidden gold that we don't know about. But in the silver market, the last five years, there's been a shortage of close to 200 million ounces every single year. So, you're talking a billion ounces of silver that they didn't have that was mined from the ground. They had to go above ground and find it from different sources. So, I think that, I think they're running out of above-ground silver. And I think when that physical silver runs out, if it ever does, I mean, the explosion in the price of silver is, is going to be insane, especially if the COMEX were to go down and they have to default or they settle in fiat currency as opposed to the physical. There's so many things that can happen in silver that would take it from $100 to $1,000 in a very, very short period of time where I don't see that type of opportunity in gold at this point. So, for me, I, how I would play it is buy as much silver as you can right now. As that ratio continues to come down, start moving some of that silver into gold. For example, I would probably start at a 30 to 1 ratio, and then as it came back down, then 25, then 20, then 15, you know what I mean? 5 to 10% at a time. Start transitioning out of your silver and moving into gold. That's what I'm going to be doing. Um, I'll probably h sell all my gold or or move all my silver into gold if we get to a five to 10 to 1 ratio at that point. But right now, that three to 400% up potential in silver more than gold is what's going to keep me in silver at this point.
>> And when it comes to Can-Am, are there any specials or any particular products you're offering right now that you think, um, stackers should be aware of? Perhaps low premiums or or ways to get their hands on some metals at a bit more of an affordable price.
>> I'll be honest with you, it's been about two weeks now where we got rid of our sales. And the reason we did that is we noticed that our competitors were doing that online, and, um, because at the end of the day, people are rushing into metals right now. They're not really looking to say, "Oh, these guys have this deal. These guys have this deal." They're just comparing prices website to website, or they're going into their local dealers. Like, most of our, our sales are still locally in the store. Um, so when they're coming in, I mean, they're, they're not really looking for that deal. They're just looking to get into silver. So, our prices are already, already really competitive. The, the margins are so small in the precious metals market. Like, we're making two to 3% on these on selling silver. So, the margins are already really tight. I mean, so offering sales at this point, we'll probably start them back up at some point in the near future, but right now the demand is so hot. It's like we basically just be giving money away for, for no reason because the de, and not to mention like people are, are running out of silver and gold. I mean, a lot of these coin shops, and I, I pay attention a lot to the people in Michigan because I have a lot of friends over there, and they're saying these coin shops are, they're running out of a lot of stuff. Um, they're bringing in a lot as well. Um, so there's that part of it too. So, but, but again, people want certain types of silver. People want Canadian Maple Leafs. People want Buffalos. People want US Eagles. And those are the things that are really difficult to get right now. Maples and Buffalos or Maples and Eagles specifically. I'm having a really, really hard time sourcing it from my main wholesalers. They're basically saying, we don't have any right now, and we don't know when, like the communication to the Royal Canadian Mint to the wholesalers is, we're not sure when we're going to get another shipment in, or when we're going to be able to ship you more silver. Royal Canadian Mint. So, at this point, we're, we don't know when we're going to get opportunity to bring in more Maples. So, we're still able to get them at this, at the smaller wholesalers, paying a higher premium. But the reality is the premiums are still decent in the precious metals market. And I think the reason for that is is because so many people are selling at this point. But I think that will change soon. And I think as the demand continues to grow over the coming months, I think the premiums are going to get higher and higher and higher. Because right now, I think your in-and-out cost, if you go into silver, you're looking at around 8%, 9%. Like during the COVID periods or the bank failure periods, you're paying like a 17% in-and-out cost. So, premiums overall are like 50% less than what they were. Um, so I honestly think it, for that purpose alone, I mean, if you can get Maples and Eagles, get them now because those premiums are going to skyrocket in the future because the US Mint and the Canadian Mint, they won't be be producing as much coinage as they used to.
>> Well, is there anything we haven't yet discussed? Anything you think it's important to emphasize when it comes to Can-Am Bullion or precious metals markets that people watching this show should be paying attention to?
>> Yeah, I would say don't be scared of the price. Um, that's the biggest thing I hear right now. People wanted to get in before, they missed it, and now they're coming to me and say, "Man, I should have listened to you. I should have bought." And it's like, "Don't worry, man. You're, It's really early." I, I always, I've been saying it for a few months now, but I think we're in the first inning of a nine-inning game. I think we're at the beginning stages of the biggest commodities bull market in history, and, and silver's going to be leading the way. I mean, you have a 45-year cup and handle that just broke out that people have been talking about forever, and we finally broke out of it. So, it's like this is the time you want to be in. This is the time where silver is about to go parabolic. If you look at prior bull markets in silver, 1980, 2011, I mean, you see how fast silver moves in that last two years, and it's explosive. And we're not there yet. I don't think we're in the last two years of the bull market. I think we got several years left of this bull market. And, uh, don't be scared of the price. We have, we could 10x from here without, without any question. I mean, I think a, a three to fivefold is very, very likely. I think a 10-fold is, is highly probable as well. Um, so don't be scared of that price. Don't think you missed the boat. People thought they missed the boat on Bitcoin when it was $20,000. You didn't. Even Bitcoin, I think, is going to go to a million dollars at some point. All I'm all that means is the dollar is going to continue to collapse. So, don't be scared of these, these high prices or these big moves that you missed. The future is bright for precious metals. Get in, be diversified, and don't have all your assets in stocks, bonds, and real estate. You have to be diversified, and now is the time.
>> Well, this has been a fantastic conversation, Michael. I'm going to put a link in the description below to Can-Am Bullion's website. The email will be there as well as the phone number so you can reach out. Also, uh, Michael, great conversation. Thank you so much for coming on the show.
>> Thank you so much for having me on. I really appreciate it.
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