I delayed borrowing money to buy silver options but I'm still going to do it.
I was fooled by the retail price going down a bit. It turned out that people are buying 1000 ounce bars and turning them into rounds and 1 ounce bars. This temporally drove the retail price down.
I was looking at silver on Ebay today and it's higher than it was last week. Everything is selling for at least twice the spot price. It looks to me like we are running out of silver for good.
Tomorrow, after coming back from prospecting, I'm going shopping for money. I hope that more than one place will lend me some.
On a different topic, a young man named Chris is going prospecting with me tomorrow. I'll teach him what I've learned so far; but I feel that I really limited myself by coming to Yreka instead of Happy Camp.
I'm rather isolated here, from the rest of the prospectors at the "New 49er's" mining club. I would be much farther along in my mining efforts if I were a member of a team. The club has mining events and potlucks where I could have learned a lot more about mining than I picked up watching Youtube videos and reading. My energy levels would be more easily maintained by associating with other miners. That's one of the things I'm going to teach Chris. There is no sense in going it alone if you don't have to.
I'll keep you posted on how prospecting and borrowing money goes, tomorrow.