Paid £14000 for silver bullion

George_Michael

jasonwebb said:

There are lots of stories of discoveries of massive gold hoards and a lot more yet to be discovered, especially now the technology makes it so easy to find gold. There is so much at stake, the very large gold hoards will never come to light to the public.

So there are lots of stories about the discoveries of massive gold hoards but the very large gold hoards will never come to light to the public.
I honestly don't think I've ever seen another poster who contradicts themselves on such a regular basis.
You really don't have a clue do you?

George_Michael

grumiofoundation said:

jasonwebb said:

Silver is not a precious metal, has very few industrial uses and degrades in nature. gold lasts forever so far far better. Can see no rationale at all for owning silver it has mostly been leached away into the air and earth over thousands of years

Where did you study chemistry?

Probably at the University of Wikipedia.

thegentleway

jasonwebb said:

Silver rots away to nothing, gold lasts forever.

Nonsense. Silver is more reactive than gold but neither last forever. Gold can be changed into other elements in nuclear reactors or particle accelerators (by the same physics that it was created in the first place).

NottinghamKnight

That posters level of knowledge can be summed up by the fact that he thinks steel is an element.

noitsnotme

@jasonwebb = @AG47 apparently.

George_Michael

jasonwebb said:

ALL the gold ever from ALL of history remains and is building up around the world with millions of tons in various forms and even more millions or perhaps billions of tons yet to be brought out of the earth and sea. 

You make it so easy to shoot down your points.
"millions of tons"?
That's very strange seeing as even the largest estimate puts the total amount of gold ever mined at only a quarter of a million tons and some estimates are well below 200,000 tons and as for "billions of tons" possibly remaining, where did you get this figure from?

soulsaver

Silver is so useful; just ask the Lone Ranger... 

ColdIron

And werewolves, but not vampires

grumiofoundation

jasonwebb said:

Silver rots away to nothing, gold lasts forever.

I hear broad sweeping statements like silver can never go extinct, or "the quantity of silver on earth never changes."

I have a geologist friend and I also have a contact well versed in these things in a top university in London. I was able to pick his brains at length here is the answer. Do you....

Gold lasts forever. Gold does not tarnish because of how the electrons on the surface are distributed. They effectively deny other foreign atoms (bloomin' foreigners eh), such as oxygen or sulphur sulfur the chance to bond. Horrifically explained (clearly you don't understand the chemistry) but basically correct.

Using steel as an example, we all know it corrodes. Does it disappear? No Yes. The quantity of steel on earth never changes. Nope Each steel atom Steel isn't an element so doesnt have atoms has other things bonded to it and then leaches away somehow. Could a 100 year old pre WW1 iron ship or tank or something ever be restored back to the same as it was when it was new? No. Yes That would be almost tantamount to alchemy. No it wouldn't unless you are trying to make the tank gold
Its the same with silver. No its not Yes it is technically true to say the quantity of silver on earth never changes. But once the silver atoms have bonded with oxygen and sulphur they get leached away or dissolved away. Can you explain the chemical process of leaching? Can you also explain the chemical process of how dissolution makes silver atoms not silver atoms (or of course how for example dissolving AuCl3 in water makes it not gold atoms?). 

Those silver items found in the Saxon hoard which was less than 1000years old have to all intents and purposes gone forever. https://www.goldinvestments.co.uk/blog/2018/06/01/teenage-treasure-hunter-discovers-hoard-of-1000-year-old-coins/ Even though you could technically say the silver is still on earth, it is impossible to retrieve and restore. Not true - silver metal can be very easily created from silver salts - actually a very common lab test which is performed by A-level students (maybe even younger?) using Tollens reagent. Also known as silver mirror test.

Silver is used heavily not just in electronics but in everythig from national security to national infrastructure. Thought you said it had very few industrial uses? Over time this silver will need to be replaced as it will decay decay is not the right term - I would have thought your world leading contact and/or geologist friend would know this and become useless for its present usage therefore ever increasing amounts of silver will need to be discovered and mined. As other countries become more modern and build up their own infrastructure the demands on available silver will increase from where they are now. As above

There is a huge cost to mine silver from the ground which is going up every year due to declining grades.

As silver gets scarcer due increased demand, prices will have to go up. Eventually they will reach a price where urban mining (mining silver a second time from landfill) may become feasible. However, it logically follows that the urban mining itself will raise the cost of silver further as the silver mined from landfills is being mined for a second time. Thus, the value of each ounce of silver mined from a landfill will have to support the burden of costs from originally mining it out of the ground plus the costs of mining and reclaiming it from the landfill. A second lot of energy needs to be spent, as it were.

Maybe would scrape a 3rd class in your first year. Don't think you will be graduating unless you improve your research skills. 

jasonwebb

George_Michael said:

jasonwebb said:

ALL the gold ever from ALL of history remains and is building up around the world with millions of tons in various forms and even more millions or perhaps billions of tons yet to be brought out of the earth and sea. 

You make it so easy to shoot down your points.
"millions of tons"?
That's very strange seeing as even the largest estimate puts the total amount of gold ever mined at only a quarter of a million tons and some estimates are well below 200,000 tons and as for "billions of tons" possibly remaining, where did you get this figure from?

It’s 4.5 million tons including all unreported gold in available form above ground

forget that 200k tons nonsense that is Only what the government’s declare, it doesn’t include all the unreported gold

its billions of tons if you count what hasn’t yet been mined from the earth and sea



silver is the opposite there is reported more silver than actually exists