Silver Stackers: This Quiet Moment Could Make You Rich

Because “buy the dip” only works if you’re not buying paper promises.

Author

Silver Nutshell
July 31, 2025

🔓 What’s Inside the U.S. Vault This Week:

📉 COMEX leverage hits record highs
📦 JP Morgan bleeds silver (again)
💥 Domestic industrials are desperate
📊 PSLV stacks up, SLV sells off
💬 Sentiment: low hype, high conviction

📉 COMEX: THE NUMBERS DON’T ADD UP

Let’s be blunt: the U.S. futures market is screaming red flags.

  • Registered silver (ready for delivery): 26.3M oz

  • That’s down 44% YoY, and over 80% off 2020 pandemic highs

  • Open interest (paper contracts): 2.82B oz equivalent

That gives us a paper-to-metal leverage ratio of 107:1

Translation? If even 1% of traders asked for delivery, the system buckles.
Meanwhile:

  • JP Morgan (COMEX’s largest vault) just cut its registered stockpile for the sixth straight month

  • Silver lease rates just spiked to 2.4%—tightest U.S. lending conditions since 2008

This isn’t healthy. It’s synthetic silver on life support.

🏭 U.S. INDUSTRIAL DEMAND: CAN’T PRINT METAL

American factories are burning through silver, and not slowing down.

According to the latest data from the U.S. Geological Survey (USGS) and industry sources:

  • Solar manufacturers in Texas, Arizona, and Nevada are forecast to consume over 120M oz this year alone

  • EV production (GM, Ford, Tesla) needs another 140M+ oz in 2025

  • U.S. medical tech (Boston Scientific, Abbott Labs, etc.) has seen a 23% YoY rise in silver demand

Add in 5G, defense electronics, aerospace, and AI servers?
America’s using silver like never before. And it’s not coming back.

Metals Focus now projects 2025 will be the 4th straight global silver deficit year. And that’s before any new geopolitical shocks.

Download our Free Gold IRA Comparison Checklist — your no-fluff guide to evaluating the top companies.

Save time, avoid scams, and make the right choice.

📊 PSLV PUMPS, SLV BLEEDS

Retail stackers and institutional whales aren’t stupid—they’re voting with their wallets.

  • SLV (BlackRock’s ETF): 42M oz outflows so far in 2025

  • PSLV (Sprott’s fund backed by auditable physical metal): +7.2M oz inflows in July alone

Also:

  • U.S. bullion banks are struggling to meet large bar delivery requests (>1,000 oz)

  • Redemptions from allocated accounts (especially in NYC and Delaware vaults) now take 10–14 business days

The paper trust is breaking down. And real metal is getting harder to come by.

⚒️ MINERS: NOT RESPONDING TO $37 SILVER

You’d think U.S. silver production would be booming, right? Not even close.

  • Hecla Mining (Idaho) just cut guidance due to weather issues at Greens Creek

  • Coeur Mining (Nevada) posted higher costs and flat production

  • No new silver projects have been greenlit this year in the U.S.—at any price

Why? Because silver mining here is a regulatory minefield—slow permitting, high labor costs, ESG mandates, and political friction.
Even as prices rise, American supply is stuck in neutral.

And remember: 70% of silver is a byproduct. It won’t just flow faster because prices rise.

💬 STACKER SENTIMENT: STRONG HANDS, QUIET VOICES

The U.S. stacking crowd is moving different from 2021.

🟢 Dealer premiums are creeping up:

  • American Silver Eagles: $10–12 over spot

  • 10oz bars: $4–5 over spot

  • Kilo bars: mostly sold out at APMEX, SD Bullion, and JM Bullion

🟢 Reddit, Twitter, and Rumble stackers:

  • Weekly “monster box” hauls are back

  • Trending phrase: “Last clean entry zone before $50”

🟢 YouTube stacking channels (U.S.-based):

  • Calling July–August the “quiet before the detonation”

  • More interviews talking about physical shortages, BRICS gold moves, and Fed panic pivots

Despite higher prices, the retail frenzy hasn’t started. That’s your window.

🥷 THE STACKER’S EDGE: AMERICAN EDITION

Stack like a contrarian. Hold like a patriot. Sell like a shark.

We’re watching:

  • A Fed boxed into a corner

  • U.S. silver supply in gridlock

  • Foreign buyers draining COMEX

  • A consumer economy that still has no clue silver matters

When the headlines say "silver's too hot," it's already too late.

You’re not betting on hype.
You’re stacking against structural failure.
And in 2025 America, that’s a smart hedge.

HOW DID WE DO? 🤷 

🥜🥜🥜🥜🥜 “Brilliant blend of headlines and hard money.”

🥜🥜🥜 “Loved the depth. More mining supply next issue?”

🥜 “Too macro. Wanted charts or price levels.”

DISCLAIMER: The content of this newsletter is not financial advice. This newsletter is strictly educational and is not investment advice. Please be careful and do your own research.