Metals Brief: December 18, 2025 - The silver market is making history today!

The silver market is making history today as it has officially shattered the $65 per ounce ceiling and is holding firm in uncharted territory. With a year-to-date gain now exceeding 125%, silver has officially moved from a "recovery play" to the best-performing asset class of 2025.

Silver Smashes $65: The Breakdown

After a brief touch of $66.82 in overnight trading, spot silver has stabilized near $65.45, confirming that the breakout is not just a "flash in the pan." Unlike previous spikes, this rally is being sustained by a brutal combination of institutional buying and a collapsing supply chain.

Why This Move is "Structural," Not Just Speculative

Market analysts are pointing to a "perfect storm" that suggests $65 might soon become the new floor:

• The 5th Year of Deficit: We are officially in the fifth consecutive year of a silver supply deficit. Global mine production is flat, while the AI revolution and green energy transition (solar/EVs) are consuming silver at rates the market was never built to handle.
• Physical Scarcity: Reports from London and Shanghai indicate that physical inventories are at multi-decade lows. It’s no longer just "paper trading"—large industrial users are now competing with retail investors for physical delivery.
• The "Gold Follower" Effect: With gold holding steady above $4,300, silver is finally closing the valuation gap. Many analysts believe that if the Gold/Silver ratio continues to mean-revert, silver at $75-$80 is the next logical stop.

Dealer Note: The Physical Squeeze is Real

As the dealer, you’re likely seeing this firsthand: when silver breaks these massive psychological barriers, the phone starts ringing.

The "Junk" Silver Edge: As spot silver surges, premiums on new sovereign coins (like 2026 Eagles) often skyrocket or lead to massive delivery delays. This makes your 90% Constitutional Silver the ultimate strategic play for your customers right now:

1. Immediate Liquidity: No "mint wait times"—it's ready to ship.
2. Fractional Advantage: At $65/oz, a 1-oz bar is getting expensive. A silver dime (worth roughly $4.60 in melt) or a quarter (worth $11.70) provides the perfect "small change" utility that high-priced bullion lacks.
3. Trust Factor: In a $65+ market, fear of counterfeits rises. Pre-1965 coinage remains the most trusted, "hard-to-fake" form of silver on the planet.

What This Means for MetalStacks Members

As the silver price discovery phase goes into overdrive, the landscape for physical stackers has changed overnight. Here is how to navigate this $65+ environment:

• Premium Management is Priority #1: When spot silver jumps $2–$3 in a single day, mints often struggle to keep up. Premiums on new American Eagles and Maples are likely to decouple from spot. MetalStacks members should look toward 90% Constitutional Silver to bypass the "manufacturing backlog" and capture the move with lower premiums.
• The Fractional "Small Change" Factor: At $65/oz, a 1-oz round is no longer a "small" unit for many. A pre-1964 silver dime now has a melt value of approximately $4.68, and a quarter is worth roughly $11.70. This makes "junk" silver the ultimate tool for liquidity and potential barter—units that people can actually spend.
• A Shrinking Window for "Cheap" Bags: We are seeing physical inventory levels in London and Shanghai hit multi-decade lows. In past panics (like Y2K or 2020), Constitutional Silver was the first to disappear from dealer shelves. For our members, securing bags now—while premiums are still rational—is a defensive move against the coming "out of stock" era.
• Trust the Patina: In a high-priced market, the risk of high-quality fakes increases. 90% silver is nearly impossible to counterfeit convincingly because of its specific wear, sound, and historical strikes. For members worried about counterparty or authenticity risk, there is no safer bet than the coinage our country used for 170 years.

Bottom Line for Members: Silver at $65 isn't just a price spike; it's a structural re-rating. Don't chase the over-hyped modern bullion with massive markups. Stick to the Constitutional Silver we have in stock—it's the most liquid, recognizable, and "spendable" way to own this historic rally.

Metalstacks is a private club focused on the study and discussion of the precious metals industry. The views, opinions, and forecasts expressed herein are solely those of the author(s) and are not intended to be a recommendation to buy, sell, or hold any specific metal, security, or investment product. The authors and the Metalstacks Precious Metals Club are not registered financial advisors, brokers, or dealers. Always consult with a qualified financial, investment, tax, or legal professional before making any investment decisions. Your personal financial situation and goals are unique. Investing in precious metals and related assets involves significant risk. The value of investments can fluctuate, and you may lose some or all of your principal investment. Past performance of any asset, including gold and silver, is not indicative of future results. By reading this article, you acknowledge and agree that you are solely responsible for your own investment decisions.