Thoughtful Money with Adam Taggart

SPECIAL REPORT: Silver Price Explodes Above $50/oz -- Is It Too Late To Buy In? | Andy Schectman

Oct 14, 2025
In this discussion, guest Andy Schectman, a veteran precious metals dealer and co-founder of Miles Franklin, dives into the recent surge in silver prices. He explains the dynamics of backwardation and the alarming physical shortages driving the market. Andy explores risks with paper claims versus physical metals and warns of a potential run on physical silver. He also highlights the growing demand from both institutional buyers and anxious retail investors, while sharing practical advice on how to navigate this volatile landscape.
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ADVICE

Prepare For Volatility Then Scarcity

  • Expect short-term forced liquidations and volatility but prepare for physical scarcity to dominate once forced selling ends.
  • Andy projects sustaining higher silver prices and a potential structural reset that could reprice silver dramatically.
INSIGHT

Backwardation Widens Dealer Spreads

  • Backwardation creates a wide spread between spot and futures, making hedging difficult and forcing dealers to widen buy-sell spreads.
  • Premiums on retail coins like Silver Eagles are already jumping significantly due to this market strain.
ANECDOTE

Miles Franklin Loaded Inventory Ahead Of Squeeze

  • Andy says Miles Franklin prepositioned inventory aggressively when premiums were low and loaded up before the recent squeeze.
  • He emphasizes reinvesting profits into inventory rather than distributing to outside investors to stay long metal.
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