Observation:

Had some extras dollars last week and decided to visit my local coin dealer who also carrys pure gold and silver buillion and went inside to buy some silver Maple Leafs. I had purchased some silver several months ago and paid his premium that at the time then I thought was high. Friday mornings premium (dealer mark-up) was even higher. I asked him why the increase and he said that he had bought some buillion near the top a month or so ago and he doesn't want to lose money himself. (If you want to buy my coins you pay my price or look elsewhere is the feeling I got. { Shortage on the street!. } Anyone else notice this effect?)

Speculation:

a) Buillion dealers are now going to be competing for my business, so shop around. They have bought silver and gold high themselves from the mint and don't want to lose money so they are charging a higher premium on to us.

b) Holding physical silver and gold has been a very good speculative investment as prices and premiums will be going up.

c) Even though Golden Minerals has been tanking due to recent news (private placement and shelf registration) I still think that the price we have paid is relatively OK (compared to some other silver / gold junior companies that have also dropped in their share price).

d) Golden Minerals share price and warrant prices have nearly bottomed. We are on the cusp of seeing our share prices head back up. It just won't be as fast up as it had come down, but I hope I am wrong here.

e) "Occupy Wall Street movement" spreading. There will be more of a North American switch from dollars to other safe havens of value that are not losing value in FIAT currency as this movement makes the media and the middle class; i.e. Junior share companies and buillion will be coveted even more so hang on,,, our day will come.

Have a great bountiful Thanksgiving weekend, enjoy the weather, Fall Fairs and covet family and friends.

This is the way I see it from my bridge.