A Precious Legacy™ Publication
November 2026 — Volume 3, Edition 11
Friends — let’s take October’s ledger head-on. The Fed met and held its ground. Our first article went to print. The Christmas contest gates swung open. And silver — well, silver spent the month going down the stairs, and the last week of it was the steepest flight: near $49 an ounce as we go to press, gold below $3,900 right beside it. Half the internet is shouting doom. This desk has two words instead: no fear. A falling price is not a broken plan — for the family that buys a little every month, it is the discount you signed up for. More on that below.
November ahead: we pause on the 11th to honor everyone who wore the uniform — thank you, sincerely. Then the month’s numbers arrive (jobs, inflation), Thanksgiving fills the house with smells, and on December 15 the Rangers Creed contest closes. If a young reader in your life has been meaning to enter, this is the month. And while the turkey cooks, write your why — one page, to the family, about what you’re building and why. It matters more than any price on any screen.
The radio sidekick weighs in.
Let’s say it plain, because this letter doesn’t sugarcoat: silver fell about nine percent this week alone and roughly twenty percent in October — from $61 a month ago to near $49 an ounce, almost thirty percent under the summer high. That is a rout, not a wobble. But hear the rest of it: for the dollar-cost-average buyer, a rout is the discount you signed up for. The same ounce that cost $67 in August and $61 a month ago costs $49 today. Nothing you own was taken; the price tag just changed. No fear.
Now, the desk keeps honest books. Our call, on the record since summer: silver closes the year between $78 and $82. The tape disagrees loudly right now, and we won’t move the goalposts quietly — if the call lands wrong, we’ll own that in January’s letter, in print. But calls are entertainment; habits are wealth. The ground under this market hasn’t changed: mine supply is flat, industry keeps eating silver, coins keep leaving the shops. Buy your ounce on schedule, count what you hold, and let the tape shout. Financial literacy, not financial advice.
| Date | Time (Central) | Event |
|---|---|---|
| Friday, November 6 | 7:30 AM | October jobs report (BLS). |
| Tuesday, November 10 | 7:30 AM | October Consumer Price Index. Inflation is the Fed’s compass right now; this number moves markets. |
| Wednesday, November 25 | 7:30 AM | October Personal Income and Outlays — the Fed’s preferred inflation gauge (PCE). |
| Thursday, November 26 | — | Thanksgiving. Count the family, count the blessings, count the ounces — in that order. |
| December 8–9 | 1:00 PM Wed | The Fed’s final meeting of the year, with its updated rate projections (the dot plot). |
| December 15 | 11:59 PM | Rangers Creed Christmas Contest entries due. |
Falling prices teach the lesson every stacker eventually learns: know what your coins are worth before you ever need to sell. In a fast market, the gap between spot and a dealer’s offer can widen — some shops pay fair, some pay thin, and the difference is only visible if you know your melt value cold. The free Coin Calculator prices your holdings penny-exact off the live spot price, so you walk into any shop — or past any too-good offer — knowing your floor. This month, of all months, run your stack through it. Education is the armor; the calculator is the mirror.
A note for down months: taxes don’t only apply when you win. If you ever sell silver below what you paid, good records are what make that loss count — losses can offset other gains under the rules, but only if you can prove what you paid and when. And remember the fine print before any sale: bullion and many collectible coins are taxed as collectibles, up to 28 percent long-term — unfair, but real. Keep every receipt, log every purchase, and talk to a tax professional before you sell. Education now beats a surprise in April.
Chairman Warsh’s Fed held rates steady on October 28 at 3.75 to 4 percent — and for the first time in a while, the dissenters wanted a hike, not a cut. The statement leaned hard on a “timely return” of inflation to 2 percent, and Warsh called growth strong. Translation for your kitchen table: the Fed is in no hurry to rescue asset prices, and real yields — what safe bonds pay after inflation — stay the gravity pulling on silver. Next meeting: December 8–9, dot plot and all. We’ll cover it live in the Nightly Report.
The watch word overseas is still the Strait of Hormuz — the narrow waterway moving a fifth of the world’s oil, where any flare-up lifts energy costs and safe-haven demand together. And here is the part the rout can’t change: mining supply remains steady but slow to grow, while industrial offtake — solar, electronics, everything green — keeps eating into above-ground stock. Physical scarcity is a slow tide. Prices sail up and down on top of it; the tide keeps coming in.
The oldest promise in this letter gets its proving ground this month: a little silver, regularly, beats a lot of silver rarely. Pick the amount your budget won’t miss — five dollars, twenty, fifty — and buy on the same day every month, headline or no headline. October’s rout is exactly what the habit was built for: dollar-cost averaging turns a falling price into a lower average cost. The same ounce, marked down — this month, marked down again. Keep the Coin Calculator tally and let the habit work.
The gates are open and the trail is wide: entries are due December 15, which makes November the month to ride. Young Rangers ages 8–15 read either of the first two booklets, complete the Young Ranger Challenge checklist inside, and write a one-page paper — what they learned and how they’ll use it on their own street. A parent or grandparent submits at silverscoreboard.com/rangers-creed. Two winners — one Junior (8–11), one Senior (12–15) — each take the engraved brass RANGER star badge, a personal phone call from the author with a parent on the line, and publication with permission. Judges look for heart, not spelling. No purchase necessary — the books, the dramas, the contest, the whole trail is free. Everything is in one place at silverscoreboard.com/kids.
Until next month: keep stacking, keep counting, and keep the faith — and get a youngster reading. The Ranger’s waiting at the trailhead.
Greg Mattison
President / Founder, SilverScoreboard Media, LLC
[email protected] · silverscoreboard.com
The Precious Legacy Letter™ · Volume 3, November 2026 · SilverScoreboard Media, LLC. All times Central. The Young Ranger Series and contest are free; no purchase necessary. Contest open to ages 8–15 with parent or grandparent submission; entries due December 15, 2026, 11:59 PM Central; official rules at silverscoreboard.com/rangers-creed. Precious metals commentary is educational, not financial advice; spot prices change continuously. Tax topics are general education, not tax advice — consult a professional. SilverScoreboard calculator patent pending (U.S. App. Nos. 64/139,708 and 64/153,526).