Retail Silver Market Has Seized Up - David Morgan

``Dealers are paying $5 above spot to source silver bags. What that equates to for the cost of silver is about $19.25 an ounce, and we are in the mid-$14 range for an ounce of silver [ED NOTE: bullion coins are usually valued even higher, with premiums taking coins up to an ounce-equivalent price in the low-$20s to mid-$30s]... Morgan also says silver is an inflation adjusted deal. Morgan contends, "The average mining cost used to be about $22 an ounce, but with the oil price dropping, it's now about $15. In most cases, you are buying it for less than the best producers on the planet can produce it for. . . . We are basically at the same price, using the true money supply, when it was $5 silver in the early 2000's. So, if you look at all the fiat currency floating around now, and you use that metric, you are buying silver at the same price (inflation adjusted) as you were in the early 2000's."''