Pourquoi et comment investir dans l’or et l’argent ? Plus qu’un placement d’opportunité, il s’agit avant tout de sécuriser le pouvoir d’achat de votre épargne contre l’érosion monétaire et les conséquences de la crise systémique mondiale, tout en déjouant les pièges que réserve le marché de l’or et de l’argent, à l’investisseur non averti.
Il semblerait bien que ce que vous m'aviez expliqué lorsque je suis arrivé sur ce forum il y a plus de deux ans est bien en train de se produire, concernant l'instrumentalisation des ETF pour manipuler le marché des futures... au détriment des acheteurs d'ETF au final!
Mais bon, si le marché physique se bloque à cause d'une manipulation trop flagrante des futures, ça va finir par poser problème non?
Tu vois quoi comme prochain acte dans cette farce? En tout cas ils ont des ressources manipulatoires étonnantes nos
-1 soit on ne peut pas du tout acheter du physique ( trop grosses quantités ) et on achéte des réserves en terre.... car ça c'est aussi du physique .. et en plus, c'est bradé .. c'est un facteur non négligable du redressement magistral des mines, à venir ... certains seront surpris de l'ampleur du phénoméne ...
-2 soit on spécule sur la différence des cours papier / physique.. et comme le prémium est trop important, on se remet sur le papier... et on fait décoller le cours du spot ..
- avec bien entendu, toutes les combinaisons mixtant 1 et 2
ça se sont les 2 solutions les moins douloureuses , pour ceux qui ont engeeniré l'affaire .. le pire, pour eux, serait d'arriver à mettre le comex en default ...une cata pour leur crédibilité ... et une TRES mauvaise affaire pour les papiers longs, qui se trouveraient pris au piége.. avec leur papier non cotable ..
catastrophe qui bien sur ferait péter au grand jour, cette manip qu'ils s'évertuent à nier ... je te raconte pas le big scandale que ça ferait .. et les têtes qui tomberaient ... faudra bien trouver qq boucs émissaires, d'importance pour calmer le jeu .. bref, une facture exhorbitante ...
Take Delivery! (Most silver is like other silver!) Silver Stock Report by Jason Hommel, August 29th, 2008
Some people have suggested that if I believe there is a shortage of silver, why not "take delivery at the COMEX?"
Well, I have taken delivery of physical silver, but not at the COMEX. But the effect on silver, and the effect on COMEX is just the same. See, if I buy "extra silver" from a coin shop, then that coin shop does not have to sell their "extra silver" to the refiner, where their "extra silver" may end up at the COMEX. See, silver is fungible. It does not really matter what form of silver you get it, or where you get it, taking delivery of real silver from a coin shop puts the squeeze on COMEX silver all the same.
In fact, if I think COMEX is likely to default, then COMEX should be the last place where I should go to get silver. After all, if there are several different places to get silver, and if one is expected to default, you'd be sure to avoid that company too, wouldn't you?
So all the nay-sayers, who claim there is plenty of silver (while they have none to sell), who tell us to "just take delivery at the COMEX" (while their own companies seem incapable of taking delivery at the COMEX, because they have no 1000 oz. bars to sell either) are, at best, woefully uninformed about the basic assumptions we are making. At worst, they are lying on purpose, to hide their impending bankruptcy. In fact, a failure to deliver silver to their own customers on a timely basis who have paid for silver, is the very definition of bankruptcy. But for some reason, silver buyers are some of the most patient and kind creditors of all, because they, for some reason, don't demand forclosure or government prosecution on the businesses that cannot deliver on their promises. Maybe that's because silver buyers don't trust the government in the first place. That's good news for those who lie about an abundance of silver, while they don't have any.
Ironically, the nay-sayers say the same thing we do at this point. TAKE DELIVERY, and GET PHYSICAL!
My auction proved something. I was saying there was a premium on 100 oz. bars, and that it was difficult to source any. My auction proved that, to the tune of $44,000.
Also, in nearly every email, I try to tell my subscribers where you can get silver.
But those who claim there is no shortage, make absolutely no effort to tell you where you can get any, without having to "wait indefinitely". Isn't that telling?
May I suggest to Meet up other Silver Stock Report readers at YOUR LOCAL COIN SHOP, on Tuesday, September 2, at 2PM.
Suppose if all buyers during a month show up all at once? Clearly, the shop will be sold out immediately, if it isn't already. I think that would leave an impression on the owner.
This will serve several purposes:
1. You will find out that you are not alone. 2. You will impress upon your dealer the amount of demand for silver. 3. The coin shop owner will be more confident and more likely to raise his bids to get silver for everyone, so it's in your own best long term interests to show up. 4. Be sure to tell him about good sources, such as fidelitrade.com, amark.com ($50,000 minimum), wexfordcoin.com ($10,000 minimum), apmex.com, tulving.com, and others where he can buy in bulk, cheaply, if he needs to. 5. Be prepared to network with other buyers. Other buyers may have bars to sell if they are retired, and "all in"; they may have to sell bars for normal life expenses.
I suggest that everyone visit their favorite local coin shop on September 2, at 2PM. That's Tuesday, 4 days from now. (TWO's-Day) Easy to remember!
cette fois ci, notre impétueux Jason pourrait bien avoir soulevé un TRES gros lièvre sur l'argent métal: la fermeture des "bureaux" silver de AGR Matthey, filiale de Johnson Mattey, par perth mint ...un default potentiel de 500 millions$ silver... qui peut entrainer en cascade la banqueroute de Perth mint et LE défault sur comex silver
accessoirement et pour les lecteurs très avertis, la fermeture des bureaux de AGR Matthey remet en question l'ensemble des certificats de Perth mint .. vendus par Kitco et Nadler ..
ou si vous préférez : l'australienne connection ==>-perthmint-agr matthey- kitco-nadler
et pour mémo , John Matthey est le plus gros raffineur d'argent métal aux usa .. AGR matthey étant sa filiale australienne, dont Perth mint posséde 40%.. et perth mint, c'est tout simplement l'équivallent australien d'us mint ..
attention, article long et complexe ... mais qui vaut le coup d'étre lu, hyper attentivement
suite avec un feed back d'Ed Wener, du gata, qui confirme la fermeture des bureaux d'agr mathey ,un des plus gros négociants-revendeurs...en plein bull market .. vraisembablement pour cause de paris contre nature.. comme l'a évoqué Jason Hommel ..
du coup, que devient leur business de raffineur, puiqu'ils avaient la double casquette, négociant-revendeur / raffineur? la question reste ouverte ... s'ils trouvent suffisamment de matos à raffiner pour faire de la marge à ces prix de misére.. ?
JPM connection, avec ses raids maffieux, est en train de se tirer une sacrée épine dans le pied ..en provoquant des dégats collatéraux considérables, dont les conséquences ne devraient pas se faire attendre !!
1-la filiere production d'argent métal avec des producteurs étranglés, par la hausse des couts de production et le cours ridicule du spot comex 2- la filiére approvisionnement/ transformation les négociants- revendeurs .. mais surtout les raffineurs, qui fournissent la Demande industrielle..anémiés ..
résultat: une Demande monétaire en forte augmentation + une Demande industrielle qui ne faiblit pas .. et en face, une production et un approvisionnement décimés ..
sont vraiment trop forts, la JPM connection, c'est vrai ! surtout pour fabriquer les clous de leur propre cercueil !
-1 qu'on rationne les investisseurs d'argent métal, soit ! -2 qu'on fusille les longs sur le comex, qui ont pourtant investi avec les fonda ET avec le trend, soit ! -3 qu'on le fasse de telle façon, que le paper market puisse défaulter, soit ! -3 qu'on saborde la filiére production ...soit ! -4 qu'on arrive également à mettre en difficulté la filiére qui fournit les utilisateurs industriels cad la raffinerie et la transformation .. soit ! -5 le tout sans arriver en aucune façon à diminuer la Demande..pas plus monétaire qu'industrielle ....... -6 tuer collatéralement l'offre, dans un marché demandeur est suicidaire ..
AGR Mathey... Hi Bill: Just a quick follow up on Jason Hommel's report about AGR MATTHEYclosing their silver operations. I called the local office here in Auckland yesterday. This is the same dealer in bullion I called a few weeks ago to check on prices and availability of bullion. At the time they told me a deposit was required and there would be a waiting period of several weeks before any silver could be delivered. Well today I was told the Auckland Office was CLOSED down. The woman I spoke to thought I was calling about picking up a pre order and that these were now now in the Office. So they are honoring previously made deals but not taking any new orders. She gave me the names of the other two leading Auckland bullion dealers and I wished her well in her search for a new job. So there we have it. A major bullion dealer closes up during a bull market. I think Jason is on to something. This smells like they were betting against the trend. But that's not all-AGR MATTHEY are refiners-will that business remain open? from their website... "AGR Matthey, the only LBMA accredited refiner in Australia, currently refines the total annual production of gold in Australia. In addition, gold dore is also sourced from New Zealand, Papua New Guinea, Fiji, Thailand and Malaysia. Gold jewellery scrap is also sourced from a variety of Asian markets. Refinery throughput is expected to be between 350 tonnes and 400 tonnes in the current fiscal year. Refining capacities are well in excess of this."
More TwosDay Silver Shortage Reports (Just about everyone is sold out!) Silver Stock Report by Jason Hommel, September 5, 2008 I asked my readers to go to their local coin shop on Tuesday, September 2, at 2PM. On September 3rd, I published the first 10 reports from my readers. Here are the rest, about 25 more. They are almost identical. No customers. No silver. Long delivery times, or unknown wait times. What little silver there is, is often selling at shockingly high premiums, and going higher.
How can this be? No customers AND no silver? Very simple, as I've explained many times over the years. Less than 1 person in 1000 is interested in silver. Only $1 billion of total investor demand per year. Silver investment is an extremely tiny market, ridiculously tiny compared to world finance. There is 100,000 times more money in paper bonds than in silver. Often in the world, in cities of millions, there is only one major large bullion trader, and these days, they are sold out. This is exactly why silver must go up, and exactly why silver is such a great bargain. Nobody wants it, (relatively speaking) while everyone needs it. Today, there is "record" demand greater than ten times normal in places, yet, still no lines. The public, who used to sell, to help fill the supply/demand gap, is no longer selling, and is now buying. The coin dealers looked at the prior customer selling, and from their perspective, "nobody wants silver". From an investor's perspective, the former public selling was an "unsustainable supply source" that was filling a supply/demand gap, that cannot be filled, except by rising prices. This current change in the market structure of the silver market could easily be forseen by anyone, yet some people continue to deny it today.
COMEX paper prices continue to diverge from physical. It may well be that the premiums on real silver, are creating the incentive for people to sell out of their paper futures contracts, and buy real silver, instead, since paper silver prices are not keeping up with the real thing.
NEWS: Barclays, sponsor of the silver ETF, SLV, needs £7.5 billion in capital, and is clearly in trouble! I have warned about the integrity of SLV, because its silver is unauditable, with JP Morgan the custodian, who also uses many sub custodians, so the ETF is basically reliant upon the promises of JP Morgan and its creditors, and JP Morgan has the largest derivatives exposure of all banks, by far, $72 Trillion, with a T.
In case I'm not clear: SELL THE SILVER ETF, SLV, AND BUY REAL SILVER.
Where can you find silver, since people below cannot find any? Right now, try apmex.com. They are reliable, and show their inventory. They have 257 100 oz. bars of JM and Engelhard bars as low as $1.49 over spot, which are a wonderful bargain.
I am an avid reader of yours. On August 30th, I went to four antique shops in Indiana where I have been buying silver over the past several years (supplied by local coin dealers). During this period, they had plenty of coins (Morgans,Peace dollars,1 oz rounds and bars).
In all these shops, their inventory was low or non-existence -- there were no Eagles available and I bought all the Morgan & Peace Dollars they had (28 coins) and all their 1 oz silver rounds (14).
Also, I have been buying silver rounds/bars from a dealer in Colorado -- he has been out of silver for the last several weeks and just got a shipment of 100 oz bars.This has never happened before (I've been a customer of his over the past 3 years).
Just thought I'd let you know of my experienced.
Ed P. Carmel,IN
Sry I didn't get this to you before your 'TwosDay Silver Shortage Reports' was published.
And my experience at San Rafael Rare Coin was identical - no lines; no customers; no bars left;no rounds; and i bought him out of his last $2000 of 90%. He was taking orders but not taking money or deposits; he reported a 'few' weeks delay to fulfill good faith orders taken; he explains the shortage as a production issue with JM & E.
Since your are in NorCal, do you have any experience with this coin shop owner. He seems very honest and forthcoming.
FYI, have you discovered 'Feed Demon' yet - it's a way of aggregating all the RRS feeds from multiple websites. Really great tool, esp keeping up on silver & world economics news.
[Personal and Private]
I meant to send this to you yesterday, but I had some medical complications, so I am sending this note today.
Yesterday's push down of the price of silver is just another example of the constant fraud in the COMEX. Nothing said to these people will do anything to solve this crime until their system breaks. Before then they are making a lot of money plundering small investors by forcing margin calls and disheartening the uninformed. The only way to bring this house of corruption down is to speed up its end by herring their run out of all silver.
My previous suggestion to buy one COMEX silver contract every month, paying full price for delivery, and then accepting delivery of the five 1000 ounce bars to yourself or an agent who will melt them down to smaller pieces. This will work for several reasons. One, this will bleed silver out of the COMEX and hasten the day it dies (more so if this practice becomes widespread).
Second, you already shown that there is a $4.00 premium over spot on bars. As this fraud continues the scarcity premium WILL rise, maybe to $8.00 or $10.00 per ounce. You can pay a fee to some silver smelter (to be safe under escrow) of maybe $5,000.00 for the five 1000 ounce bars, pick up the 50 one hundred ounce bars, and sell them to your people for eight or ten dollars over spot, for a $40,000.00 or $50,000.00 gross profit. This will make you a benefactor of your readers, i.e. it is better to receive silver at $20.00 an ounce, than receive nothing, especially when the shortage will initially cause silver to blow up to $30 - $50 an ounce.
After COMEX is broken and they accurately reflect the real price of silver, then the falsehood caused shortage premium will go away, and things will return to normal with the usual premiums, except you helped a bunch of people to obtain silver.
Another thing you may do with your is to inform all of the dealers, that you can find customers for them willing to pay more than the price which silver smelters pay to them for their bars or rounds.
And one last comment against the stupid dealer of American Coin in Orem, Utah who said:” Why raise my bid price when people are throwing silver at me”. You can reply: ”Because there are other people who are willing to throw even more money at you for this same silver”.
Anyway, good luck to you.
Cheers. (name withheld)
Jason, I went to my favorite local coin shop on Tuesday at 2:00 pm. He had no silver dimes, as somebody had bought all that he had. He had some half dollars, but somebody had already paid for them. He had maybe 50 silver eagles of different dates but was asking $15.00 each when the spot price was about $12.77. He also had 3 one ounce bars that looked like they had been through hell. There were a small amount of silver quarters, maybe about 200. I bought a roll for $90.00 and felt lucky. I asked the dealer what was going on, and he responded that he thought the paper silver market was responsible for the confusion. He said people have been buying silver like crazy ever since last year. This shortage looks real to me.
CNI, where I usually buy my bullion has a hoard of silver eagles which they are offering at $3.36 over spot in lots of 500
I saw the inside of their silver vault 2 weeks ago when they had no 100 Oz. bars. they had what I would estimate by the size of the stack, about 200,000 Oz of rounds in boxes of 500. They also had about 30,000 Oz of coin bags, I believe all quarters. I know these as I own 20 of those boxes among my stock. At the time, they were offering generic rounds at $1.50 over spot. Two weeks ago, CNI would not commit to a date certain for delivery of 100 Oz bars.
Jason, I visited my local, coin shop at exactly 2pm Tues. Only one person was there dealing for a coin. I asked to purchase some 10oz bars and Jack informed me that he had no bullion at all. JHe offered me some junk dollars and said he had one box of Silver eagles. So, I asked for some, he said come back tomorrow, I have them at home. So, I asked Jack if he had heard of Jason Hommel, he stated that he had. Then I told him what you had predicted. He explained that he didn`t know when he would get more bars. Seems like you struck the nail on the head. Sincerely, Phil Spokane, WA
I wasn't able to make it to my local shop but I did call a friend of mine in Seattle and told him to go and try to buy some silver.
He called Northgate Rare Coins and Precious Metals who informed him that they had nil as far as inventories go.
He informed the gentleman that he wanted to buy about 500 ounces of silver in whatever form and he was told there would be a 4 week wait and would have to pay up front, $1.25 over spot.
He called one other shop that was also out. The shop owner said he just got in a shipment the other day of 500 oz's and within an hour a buyer came in and it was gone. He was willing to put an order in for another 500 oz's at .80 over spot for cash up front -- Guess he doesn't value the premium or the shortage.
Would you happen to know of any other folks in Toledo, OH that you are in contact with? I'd like to hear what their experiences have been like. You can forward my email to them if you wish.
Hi Jason, Tuesday at two I called my local coin shop, (just had knee replacement and couldn't drive), we are on a first name basis. I asked to buy 100 single ounce rounds and he chuckled and told me he had zero stock. He offered to buy any I would sell him at $2.00 over spot. I declined his offer. He told me he was even having a hard time getting his supplier to commit to availability for the near future even. He did not know when he would have stock. He said he had plenty of gold for sale. He also reads your emails as diligently as I do. I agree with your views 100% on the silver market, keep up the great work. Mel W. Indiana/Michigan state line, coin shop in Roseland, IN by the University of Notre Dame
Nobody has any silver around my neck of the woods. Coin shops are only ordering rounds (blanks) Pay full price up front. They are selling a few eagles at 18$ a piece. I told them I had silver for sale at a minimum of 50$ an ounce, got a good laugh. After that questionable silver blank I bought, I don't plan to buy any more rounds. Only Eagles or 100 oz bars
Jason My local "wholesaler" buys from local shops and walk ins. I asked about silver eagles over the last few weeks. The first time he had one tube at $385 The second time I got three at $342. The third time he told me he was out. He later said that he had had two monster boxes and sold one at $25.00 per ounce. The buyer wanted the second one also but the dealer said that he was not going to part with it even at that price. (Editor's note: ebay.com, while expensive, is much cheaper.
Jason, Started reading your articles about a year ago...On july 31st 2008, i bought my first 100 silver maple 1 oz -- Every week in August i went to the kitco store in Montreal and bought 100 maples with no problem but on september 2nd, around 2 p.m. they told me on the 9th floor that they had no more silver to sell...Disapointed -- Cannot understand, if there is such a shortage, that the price of silver is not going higher -- Thanks for your incoming stock report -- Pierre from Québec, Canada
EDITOR'S NOTE: KITCO HAS NO MORE SILVER TO SELL IN QUEBEC?!
Hi Jason, Went to the local coin shop on Tuesday and found myself looking into an empty (bullion) show case for the most part. There were some silver rounds but no 5, 10, or 100 oz bars. I cleaned 'em out of the rounds with about three hundred bucks. No promises, I could order more if I were willing to wait 6-8 weeks for delivery which could not be guaranteed but would still be required to pay up front. There were also some silver eagles, about two thousand $$$ worth,(the last ones in stock) and they were $25.00 each! Peace, Richard in Montana
PS Jason I find it interesting that bullion has dropped to where it currently is but the silver with the government stamp (eagles) is selling for what spot price probably OUGHT to be. Is this a fair guess? What's up with that? Are things getting SO corrupt that honest (PHYSICAL) investors are being hoodwinked by the paper guys? What do you do? Is 'sit tight and be right' a good philosophy in this wildly confusing market? I guess I know how you feel but I notice that even you have sold some ozs recently -- ==========
Dear Jason, Thank you for all the important information you are putting out on your website. I'm a small investor and am purchasing 1 oz rounds. I went to a local coin shop/precious metals dealer again on Tuesday and had good results. No one was in the shop but the owner, an employee, and my wife and I. This shop has been there since the 70's so I assume they have a decent reputation. They recognized me from a purchase of 1 oz rounds about 3 weeks ago & I didn't even ring the buzzer as the door unlocked as soon as they saw us. No one else was in the shop at 2 p.m. I asked if they had anymore 1 oz rounds & he said they were sold out. I asked if he heard of you and he put out some false press on you saying you're the guy that uses the Bible to sell your metals. I said there was a shortage of gold & silver, especially silver and he said that was not true. He named a bank in the Northwest that I don't remembe r that had millions of oz for sale. He said the reputable coin dealers in California hate you for being a false propagandist. I knew he was misinformed. I saw a pile of large silver bullion coins laying on his desk & asked to see one. He told me they were a collectors item someone brought in & sold them to him. They were minted by Franklin mint and mostly depicted engravings of English & other European historical events & they were strikingly beautiful. I asked about the larger than usual size & he said that each coin was .999 pure silver and weighed exactly l.333 oz. What do you want for them I asked. He said spot price of $13.05 per oz and let me have them for $17.40 per coin and I bought all 45 coins for $783 for 60 oz. total. I was happy you had your readers do this on Tuesday. I would ask if you share this letter that you leave out the part about him not thinking a lot of you and what the purchase was as he reads your letters. Thanks again for wising us up on silver. My wife and I went to a McAlvaney seminar here in our city about 3 weeks ago. As you know, he's been in the metals business since 1972 & writes a monthly newsletter. He too says that the metals are about to shoot the moon & that for the next 2 years silver will out perform gold. You may call McAlvaney for his DVD seminar about 2 1/2 hrs. long God bless you and guide you in all that you do. Buddy Kae
I have visited my local silver shops here in Indianapolis and it is cost prohibitive to buy from them due to large spreads and having to pay sales tax in Indiana. I buy from Bullion Direct and have had great service from them. They are delayed but I still got 1400 eagles delivered in about 2.5 weeks... taking delivery today.
I am trying to use craigslist.com to sell my silver locally. There are no fees. I have used craigslist many times to sell all kinds of merchandise but I have had no action on a post I put on over 2 weeks ago. I don't think many people with silver use it to connect with buyers/sellers.
If you could put the word out about craigslist.com maybe it would be the freemarket we are all looking for. --Matt Bopp Jason,
No, there is not much silver for sale on craigslist. I have not sold any silver through them, only general items. BUT...I believe it would be a great forum because the whole idea is to bring buyers/sellers together (face to face) . I like this idea because it deletes the need for fraud protection. It's meant to be a localized market.
I prefer this greatly over ebay because there are no fees for using craigslist and I know I am going to meet with a live person for delivery and payment of whatever a selling. In the case of silver I would probably meet in a public place (not my house). Also, this keeps all transactions "off the radar" and most people pay cash for items that are $500 or less.
I hope you also see the stregnths of this format and promote the idea. OR, I would love to collaborate on creating an online forum to address the needs of the silver community.
I went to a shop in Cedar Rapids that I'd never been to. Pick up a half a dozen Silver Eagle tubes and a few Silver Eagles. They had a small supply of Silver Eagles and rounds and bags of circulated/worn Morgan Dollars. I'm going back tomorrow to check out the Morgans. I was the only one in the shop at the time and I've no idea what his volumn is business wise. The owner is a locale Numismatist with the locale coin club. He did mention that Silver Eagles we're becoming hard for him to get.
Didn't make it yesterday, but went to my local coin shop in Corvallis, Oregon today. I bought 3 100 oz bars (2 JM's and 1 Englehard) and that cleaned them out. They held them for me for 4 hours after a phone conversation(I have previously purchased from the same store and they remember me), they had 6 calls wanting to purchase the same bars by the time I picked them up. I paid $2.30 over spot. Store said that supply is difficult and that they sell out routinely. They also said I got lucky with my purchase today.
I visited a local coin dealer yesterday... Coin Mint White Plains NY 914) 428-6682
He says business has been brisk both buying and selling.
he said it was hard finding silver... yet I realize now there seemed to be a lot of silver products in his display case - one oz Silver bars, nice one oz silver rounds, lots of Morgan dollars and various other silver coins.
I had no intention of buys that day so I forgot ask price..
Maybe it's because I'm a small buyer. A very small buyer. I only buy like a few hundred dollars worth of silver at a time but I've called about 10 places in my area. Out of the 10 about 6 or 7 has silver in some form. A couple of the places say they have hundreds of silver eagles. The others say they have only 1 to 2 rolls and the other only has 9.6 oz bars. Now at first i started getting shocked that these places were saying that they had silver. Not realizing the small amount i was looking for or that they were telling me they had, excluding the 2 places that told me they had hundreds of silver eagles. One of them got smart when I asked how many silver eagles he had in stock and said in a smug manner "more than you can afford." without even knowing how much i was looking to buy. Anyway, maybe I'm just a small buyer because at first i started to question if there was a shortage just by the fact that so many of the places were saying they had silver. I was expecting to hear that there was no silver in any form available in all the stores. I'm a small buyer. One of the places has 20 silver eagles for $16.50/oz. I plan to head over there right now and buy them but the news of not hearing all the places saying they were void of silver of any kind shocked me and had me pause to ask about the shortage. But maybe it's because I'm a small buyer only expecting to by a few hundred dollars worth of silver at a time, that i did not notice the shortage.
Following your suggestion to visit local coin shops on the 2nd of this month, I thought you might like to hear about my own experience.
I live in one of the larger cities in the U.K. I decided to source my local coin shops and find out what they had in stock. Normally I would go straight to an internet source for coins (in fact, London is the only real option for any quantity) but it seemed only fair to check out the local places and pay them a visit.
I was surprised to find that my city supported only 2 coin shops with any hope of holding bullion in stock. The rest were basically jewellers or pawnbrokers/valuables-for-cash exchanges which were not worth the time.
The first shop was really tiny. Enough room to swing a cat - a very small one. Most of the stock was curiosity pieces in velvety boxes. I found a small section dedicated to familiar gold and silver coins. I got the idea very quickly. The complete 'bullion' inventory consisted of:
- 1x 1oz gold Britannia @ £500 GBP (10% premium) - 1x 1oz gold Maple @ £550 GBP (22% premium) - 1x 1oz silver Eagle @ £22 GBP (!!!) - a 3-coin set of Royal Mint proof pound coins, at some silly price - a few 1/4oz gold sovereigns, most of them of numismatic value - a large silver Crown which was again a numismatic coin - a few miscellaneous small gold coins such as Francs, Roubles, etc.
I asked if they stocked (or sourced) bullion coins which were not on display. I was told 'oh no, we are too small for that'. I commented that there appear to be no other retail sources of bullion coins in the city, perhaps even a lot farther. I suggested that given the recent bullmarket in precious metals and gold/silver coins, that he may have be missing out on an opportunity. But his interest seemed to be firmly in rare coins, and not shifting gold or silver - which I suppose is fair enough for an enthusiast with a shop. But its quite alarming to think that one customer could empty this shop in 5 minutes, and that would be pretty much it concerning 'real shops' with gold coins.
Oh, and I was the only customer, possibly even that day.
There is a second shop in the city, which is not a coin shop at all, but they do list a few bullion coins on their website in very small quantities. I think they would be cleaned out 5 minutes later.
When I got home I made a call to a coin 'dealer' in the city which operates without a shop and I found via google. I asked about bullion coins and was quickly referred to their HQ in London, so I said thanks an goodbye.
It seems this country has completely dropped the ball in terms of gold & silver?? I didn't realise it was this bad.
Appreciate your knowledge and wisdom that you share with us. Just wanted you to know that I did contact my local coin shop on Tuesday, and they didn't have any silver rounds (what I usually buy), and of course wanted me to place an order to be recieved later.
Just eight months or so ago they always had some rounds on hand.
John in Portland
I also went to a coin shop at 2 on Tuesday in central New Jersey. I was only customer. Lots of demand for gold, less for silver. Little of each to sell without significant premiums. I also called 2 local wholesalers. They confirmed silver bars in 10 to 100 oz weights are hard to find and they have dealer waiting lists. Dealers are not selling at low prices. One dealer who is buying but not selling told me, "the world is too messed up for silver to stay cheap for long". It really does appear that paper silver price is low; silver bar prices are higher if you can find sellers. It seems to me that dealers can only hold back for a limited time as they need cash flow to pay rent and taxes, etc.
Also, I think alternative energy development (wind, solar, battery, etc will be silver-requiring) as silver is such a great electrical conductor. I was unable to find out how much silver goes into a new Bosch calcium-silver alloy car battery.
Do you think silver industrial users want investors competing with them? I don't think so and the silver investors are being cut off from supply from major fabricators, refiners, and industrial operations. The market will adjust and Ebay will reflect the free market.
C'est en effet très important: Caballas est en train de se tirer une balle (une rafale) dans le pied..., les industriels confrontés à la pénurie de Physical ce n'est pas de la Science-Fiction; Caballas peut ravager le "prix officiel" du Silver+Gold via le comex et les futures tant qu'il veut (du reste il ne s'en prive pas) n'empêche, Du Silver, on n'en trouve plus...enfin, du vrai, du lourd et brillant...!!!
Je profite de la tourmente à l'oeuvre sur le secteur (et sur les autres) pour rédiger ce billet d'humeur en forme de synthèse des éléments qu' il est, selon nous, devenu indispensable de connaitre pour tenter de piger en quoi nous vivons un moment littéralement historique.
Les investisseurs(qui sont de plus en plus nombreux à venir lire Hardin, comme en témoignent nos statistiques phénoménales de fréquentation)] et qui ne peuvent pas acheter de Silver, parce qu'ils n'en trouvent plus, ne sont pas assez (plus assez) mal informés pour se consoler avec les contrats et autres certificats bidons prétendument indexés sur le métal, ils comprennent chaque jour plus nombreux que c'est de la baise.
Ils n'ont pas de réelle faculté de choper du véritable Silver, si ce n'est en se rabattant sur les mines unhedged à grosses réserves en terre.
J' insiste, si les petits et moyens investisseurs ne peuvent plus s'approvisionner qu'au prix d'acrobaties, pour les gros, ce n'est même pas envisageable ! ( ce marché est très étroit, j'y reviendrai plus bas car c'est essentiel à la démonstration que sous-tend ma thèse).
Attention, je ne suis pas en train de dire que le graph des mines est actuellement repassé Bull, (ce serait vous mentir), ce que je dis en revanche, c'est que la capitalisation des mines est souvent devenue dérisoire, bien inférieure en tout cas, à celle que justifierait le niveau (même outrageusement manipulé à la baisse) des métaux...
Cette baisse, artificielle et illégalement orchestrée, est d'ores et déjà largement excessive; aussi, à ce stade, toute poursuite de la dégradation ne peut s'analyser que comme une incroyable, une invraisemblable opportunité de MT/LT.
Le Silver est un marché étroit, terriblement étroit, on le sait; mais celui des mines de Silver est minuscule lui aussi...
Or, dans un contexte de Krach mondial, les capitaux en quête de "value" sont considérables, on assiste à la 11e faillite bancaire US, celles des gigantesques Freddy mac et Fanny mae non comprises, la confiance est partie, elle l'est durablement.
Avec la baisse incroyable des mines, ce marché qui a toujours été très étroit, s'est encore nettement contracté, il est devenu caricaturalement dérisoire, si bien qu'on on peut acquérir des quantités impressionnantes de titres avec peu de (fausse) monnaie biodégradable...
Les (énormes) capitaux en quête de refuge hésitent encore à s'investir en mines, puisque loin de jouer leur rôle de bouée, elles ont accompagné la baisse, quand elles ne l'ont pas carrément amplifiée.
Mais privés de la faculté de choper du physique, prenant enfin (tardivement) conscience du piège que constituent les ETF, dégoutés par le spectacle de l'attaque illicite orchestrée début Aout sur les futurs des métaux précieux, ils vont, au moindre signal, s'engouffrer sur les mines bradées, la capitalisation des compagnies (exploratrices, patrimoniales ou productrices confondues) est devenue si minuscule que, justement, le moindre afflux d'achats ne peut que provoquer une envolée épique.
Ajoutons, pour la bonne bouche, que le phénomène (décrié ici) consistant, de la part des banques et courtiers, à prêter VOS/NOS mines à des spéculateurs naked shorts contre un plat de lentilles, (trahissant ainsi leurs clients que vous êtes et que nous sommes), facilite grandement la prise de ces positions vendeuses....positions que ces intrépides suivistes des Gros manipulateurs, se croyant malins et appliquant à la lettres l'adage 'trend is my friend" (même quand le trend a été manipulé grossièrement) chercheront à racheter en catastrophe au moindre rebond technique...
Les diaboliques initiateurs, à leur tour, seront squeezés par cette lame de fond...Gap UP...!!!
Alors, certes, Le timing est délicat (il l'est toujours) et pour l'heure, personne n'ose attraper "the falling knife" le couteau qui tombe, de peur de se couper les doigts...mais quand le prix est à ce point décalé de la valeur, ça s'appelle "une affaire en OR"...ce qui ne signifie pas pour autant que la baisse soit terminée, puisque cette circonspection la pérennise....Bref, ce n'est pas parce que c'est très et même trop bon marché que ça ne peut pas être encore plus bradé ...oui...mais la gourmandise est un vilain défaut.
Il y a donc lieu de songer à constituer des lignes sur les plus beaux fleurons, histoire d'être près...
selon le tempérament de chacun, et son goût pour le fonda ou l'ATn on attendra prudemment le signal technique au risque de rater le train (l'avion), ou au contraire, on pourra entrer maintenant, pour une petite partie 20 à 25% de la somme dédiée et augmenter l'exposition à mesure que la baisse se poursuivrait.
La poudre sèche (le cash) devient terriblement précieuse en ce sens qu'elle permet d'accumuler peinard des réserves (certes encore en terre) très largement sous le cours (pourtant massacré) du spot.
Mon petit doigt me dit que des compagnies comme SSRI, ECU, et dans une à peine moindre mesure, SLW, ont un tel potentiel fondamental que leur niveau est complètement irrationnel et donc hyper-attractif.
Plus généralement, le massacre de mines comme CDE (en sénior productrice) et MGN ou FAN (en junior spéc à réserves polymétalliques élevées) représente également une opportunité qui sera d'autant plus phénoménale que la baisse (qu'indiquent encore, au moins à court terme, nos signaux techniques calamiteux) se poursuivrait...
Il est plus que vraisemblable que des opérateurs généralistes jouant en levier aient été appelés en couverture sur leur portif général en raison de la baisse subie depuis mi mai 2008 par les indices classiques et se soient donc vus contraints de liquider leurs positions gagnantes (leurs mines)...et ce à un moment fort peu opportun...
Celà n'a pu qu'alimenter la spirale baissière déclenchée de longue date (on a vu comment) par Caballas, mais en particulier au moment où les marchés étaient désertés (début Aout).
Enfin, et les chartistes n'y seront pas insensibles, en majorité, les mines présentent de spectaculaires "gap downs" qui finiront bien par se combler...ils sont plusieurs dizaines de % au dessus...
En plus, tous les "gaps up" anciens ont été comblés (même CDE va combler le sien, qui est très vieux, sous 1.60... elle est à 1.62) ça au moins, c'est sain, à toute chose malheur est bon...
WD. Gann disait: "le risque augmente avec la hausse et diminue avec la baisse...!"
Le paradoxe (c'est un doux euphémisme) de la dichotomie actuelle nous prend à contre pied, c'est désagréable...mais on sait pourquoi on est là... et pas ailleurs...
Le fondamental des métaux est sain, il n'a même jamais été plus sain depuis le début de ce Bull.
Celui du Silver est, comme on le dit ici sans relâche, encore bien plus impressionnant que celui, pourtant remarquable, du Gold; la part "investissement" de la demande est bien moindre que celle dévolue au Gold; pour l'essentiel cette demande est industrielle, vous noterez du reste que cette part ne se dément pas, et ce, malgré l'importance prise par la photo numérique au détriment de l'argentique, le recyclage et la refonte sont très faibles, Ca, c'est le 2è effet Kiss Cool, nous l'avions anticipé: les effets du numérique commencent à peser puisque 73% du Silver utilisé en photographie était recyclé....
la filière scrap est en hypoglycémie...En effet, qui est assez con pour se débarrasser de ses Hercules, écus et autres semeuses, quand on sait qu'il est devenu presque impossible d'en trouver?
La production minière de Silver baisse, le recyclage est plus que faiblard, la demande industrielle ne se dément pas et les investisseurs continuent à assiéger les bureaux de change, les bijoutiers, les numismates pour se procurer des pièces, acceptant souvent de payer un prémium, c'est un signe fort que la prise de conscience s'opère.
Bref, une pénurie avec des prix en forte baisse, on the long run, c'est impossible, intenable...
Alors de 2 choses l'une, soit on a tout faux (vos caddys ne sont pas de plus en plus chers à contenu égal) soit ce genre d'anomalie est très rare, il est appelé à n'être que très temporaire...et... très lucratif...!!!
Bill, There are some interesting snippets about silver demand in this article. Note that in the first 7 months of 2008 India imported just 54 t of silver (7.7 t/month).
The Bombay Bullion Association President estimates 100 t were imported in August that is a mere 1200% INCREASE!!
He says "the demand has started picking up". What is clear though is the Indian silver trade has been running down its inventories and are now running on vapors and are having to air freight silver supplies …. QUOTE "As the price has been volatile, banks are preferring air shipments to sea shipments as it is much faster’ END
Even though the air shipment may be faster they will no doubt run into the problem of actually locating something to ship! But not to worry JPM can probably sell them some silver derivative contracts instead!
QUOTE : MUMBAI: Amid volatile prices and slow demand, banks have reduced their silver imports.
The metal is currently being imported purely on the basis of need as high costs make it logistically unviable to store. Festival demand is just picking up and depending on the urgency banks are charging customers a premium of anywhere between 20-25 cents an ounce for silver.
ScotiaMocatta India managing director (bullion) Rajan Venkatesh said that demand for silver has been extremely dull over the last one year and has only started picking up in the last few weeks. "A major deterrent has been the prices, which hit the psychological mark of Rs 25,000 per kg levels (in May 2008)," he said.
However, with prices falling over the last few weeks, he indicated that there has been an upswing in demand and enquiries have been coming in.
As the price has been volatile, banks are preferring air shipments to sea shipments as it is much faster….
les BC et le cartel sont en train de détruire un de leurs outils , le marché des futures j'avais déja évoqué ce point dans la file, avec les dégats collatéraux sur les filiéres ( production, approvisionnement etc .. )
le raid violent et totalementdéconnecté des fondamentaux a éjecté nombres d'intervenants ... qui ont perdu toute confiance en ce marché de papier .. par exemple les revendeurs qui couvraient leurs ventes en se portant long sur le comex .. ont été balayés ..
l'article suivant reprend tb ces points, et remet les choses en place en ce qui concerne la soit disant déflation qu'on nous sert, pour justifier l'ampleur de ce qui n'est qu'un raid orchestré par la fed et consorts ..
The shortages will lead to higher prices. Probably shockingly higher prices! The shortages will cause others to buy silver from the paper market to sell at big profits to the real market. People are considering opening up new mints to meet market demand. The market will break the back of the manipulations. The low price is temporary, and it is ending through higher prices for real silver. Eagles are selling for $4.00 to $4.50 over spot at the major wholesalers now, and up to $20-24/oz. at ebay for tubes and individual Silver Eagles!
Shockingly, some people still deny that there is a shortage. They don't see the evidence because they have not seen it on their news, because they have not been to their coin dealer, because they don't know the statistics of the silver market, and because they don't understand the economic implications.
Here, then, are reports of the worldwide shortage of silver that is here now, worse than ever.
Before I list them, there was one report in particular that I was looking for, and I apologize that I cannot share it with you now. It talked of a coin show of 65 dealers. Before the show, they were all trying to buy silver from each other, but nobody had any. The man who attended the show left without any silver. 65 dealers! All sold out of silver!
9/15/2008 2:31 AM
Over the past few weeks I have been reading your articles on the shortage of silver. I really did not expect a shortage to show up in India - but was in for a surprise over the weekend. In the past I have purchased silver bullion from a well-reputed jeweller in my city - PNG. Never faced any problems earlier. When I visited them on 13-Sep - I was told that there was a shortage and I would have to place an order. I was asked to pay in full upfront and order would be fulfilled in 8-10 days. I asked them why there was a shortage. They said that lot of the silver they sell is recycled scrap. And for some reason the refiner (based in Bombay) was not able to ensure supply to meet demand. I couldnt probe deeper as the shop was packed with customers - all of them buying silver items given the low price and the fact that we are in a period of some auspicious Hindu festivals. The rate quoted for silver was Rs 19,400 per Kg.
Jason notes: 46.5750 Rs per $1. 19400 / 46.57 = $416.53/kilo. 1 kilogram = 32.1507466 troy ounce. $416.53/. = $12.96/oz. On 9/15/2008 2:31 AM
I started buying silver bullion and coins about three years ago (when, ironically, it was also in the $10.00 range), and today experienced for the first time since then what so many of your other subscribers have recently reported. I went to a coins and collectibles dealer in my area for my weekly silver buy, and was promptly informed that they were completely out of .999 bars and rounds. They did have plenty of 2008 Silver Eagles--not surprising, since they're asking $20.00 each for them, nearly double the current spot price. Only one other customer came in while I was there and (like me) bought some 90% coins instead, their prices for which were about the same as another local competitor of theirs where I normally buy, and who, on my last visit also seemed to not have the usual large selection of pure silver bullion products (and that was BEFORE the recent correction).
So it would indeed appear that at the moment retailers aren't selling to us because private holders aren't selling to them, and probably won't be, especially while the price is on the floor. Presumably this won't change until the oft-predicted Next Big Leg Up in the silver price begins in earnest, and, with the numerous small bank failures (nearly a dozen this year so far) and bailouts/buyouts of other big lenders and securities houses, plus the worsening economic collateral damage from the housing market bubble burst (inflation, unemployment, stagnant consumer spending, super-tight credit, etc.), the hysterical flight of the debt-ridden masses back to Real Money may happen sooner than we fortunate (literally) Silver Bulls expected.
My compliments to you on your insightful, well-researched, faith-based guidance.
L. Clements Chicago
Just thought I'd fill you in on the shortages in my area. I live in Northern San Diego County.
I couldn't make it to the local coin shop on TWOs-Day, so I ended up going on Wed. They were out of generic silver bullion. One of the employees said they hadn't been able to get any silver from their "wholesaler," which I imagine meant the general public is not selling, as most of their generic bullion has looked like it's had a rough life.
One man came in and had apparently called ahead and had some silver eagles reserved for him. He bought 25 of them for $400. That equals $16/Eagle. Silver was right around $14/ounce. So on 9/3 the premium on eagles at this coin shop was $2 over spot.
Today, 9/13, I stoped back in to see if they had gotten any more silver bullion in. I was told "no, things are really tight now. But, I do have some Silver Eagles for $18 each." The employee then commented something to the effect that they are "at a premium, but that's how it is now." Today, silver is under $11/ounce. The premium is now over $7 over spot.
Just thought you might be interested, Aaron
Went Hunting for Silver at my Local Coin shop. ."Accent On Coins", in So Everett, Wa.. they had ZERO Silver.. The store owner said the only silver he is seeing is silver someone is brings in to sell, and that lasts for 2 minutes as the next person to enter the store buys it.. The Owner said he is Trying to Buy Silver and is in contact with ALL of his "Suppliers" He Wnt On To Say "No One Has Any Silver To Sell".......... Mean While Silver Sits At 10.84$.. Something Is Going On.. You Know It - We All Know It... Keep Writing your Reports They are the only light out there among the darkness..
Refiner out of $1000 oz bars begging for bars to keep doors opened.
no silver to be found in any coin shop in sioux city ia. jim peck
You're absolutely right about the silver shortage. My 2 local coin shops I normally buy from are on empty, and see no prospect of getting some anytime soon. They haven't put in any orders for at least 2 weeks. One said that she stopped putting in orders because all her suppliers can't say when they'd be able to deliver. So she hasn't put in any more orders for weeks. The other one said that he hasn't been able to get any for 2 weeks. It appears that Ted Butler's predictions are finally coming true. This is the final phase--the physical shortage which will lead to the short squeeze in the paper markets.
Dear Jason, I just confirmed from my local dealer (LaGrande Gold and Silver) that he is out of silver and is frantically trying to find some. I'm always pleased to read your reports for their content, but also because you are still around to make them. It takes faith to oppose the powers that can bring down international prices. What might they do to any individual who is exposing them with God's truth?
I don't want to support the fraud by selling my silver into the current fraudulent market. Is there a place to sell that would capture at least some of the true value of the commodity? I would appreciate your reflection on this dilemma as I suspect would many small-scale silver investors facing real financial obligations.
Yours in Christ, Bob P.
Jason answers: ebay is the best for now. they take up to 15%, depending on order size. Or others say as little as 5% for 1000 oz. bars. (I don't use ebay, I'm just reporting.)
Hi Jason... hope your having a great day today!! )
Just wanted you to know I( went to my local coin dealer to see if he got any junk silver coins in... & to ask him what silver he did have. Since I buy alot of coins from him over the years... he did sell me $125.00 face... I ask him what he had left & he said NOT much as he sold it to his resource (smelters)... He told me he has not sold any silver at all for the last month... he says he has about another $200 face but paid much more then what he could sell it for so he is going to hold on to it till silver rises. (I hear the same thing from others) BUT they all say they DO NOT have alot available.
I like coins as it give a good hedge... if silver rises... I got the silver value... after it rises & falls back I have the coin value... as so much 90% silver is being melted once silver goes way up, then even the common coins will become more scarce... I also buy silver eagles when I can....
Many are looking for silver to buy but they (the dealers) can't find any & customers are not bringing in any silver to sell... so everything you been saying is TRUE... here again this proves there is shortages... I tried to get more silver from a few other of local dealers I know but again they don't have any or are sitting on it till silver prices go up past what they had to pay for it earlier...
Just thought I'd let you know...
Hey Jason, Im a subscriber to your newsletter and always enjoy reading what you have to say. I just got my dad to start reading you too and he loves it. I live in the Salt Lake valley and thought I'd share whats happening in the local silver market with you. I just called the two coin shops that I regularly buy silver from. The first one is located in downtown Salt Lake City and they are completely out of silver. No 40% or 90% bags, no rounds, no 10 oz. or 100 oz. bars....nothing. The other one is located in Ogden which is about 40 minutes north of Salt Lake. They just got a shipment in today of 300 rounds and already sold 50 of them. They are selling them at 15.50 an oz. which is about 5 dollars over the current spot price of 10.65. The highest premium I ever paid them in the past was 1.50 over spot. Neither shop has ever had any shortages. Amazing. I believe you are 100% correct that prices are artificially low, perhaps being kept there by big players in the financial and government sectors in order to prop up the dollar and prevent the paper silver market from huge defaults. In any event its quite interesting to watch it. Keep up the good work and God bless you.
I was actually shocked today for the first time. I have been buying silver from a coin shop in Lakeland Florida for the past year and a half. You could get basically anything a small timer could want. You could buy monster boxes of silver eageles and a sale of 100 gold eagles was not unusual for 25 to 35 over spot The man has two shops, one in Lakeland and one in Clearwater and has been in business for 40 years. He has no silver other than nusimatic coins. None. He wants 100 dollars over spot for gold eagles which he has plenty meaning several hundred. The other coin shop in Lakeland that I frequent usualy has some art bars and a few bags. They mostly make their money on diamonds. He had 200 silver eagles and wanted 3 dollars over spot. There is now a shortage in Lakeland!
Just let you know that Canadian Scotia bank is no longer accepting order for 100 oz silver bars. You can order 1000 oz or coins only now. RBC is still selling 100 oz but waiting time will be 4 to 6 weeks. They said the siver bar is sold out in several cities and they have to get from Bank of Canada. It seems very tight. However, I did not notice there is long lines though. Strange, did someone withdraw the available silver before engineered this sell off? Is this lawful?
What will happen if cartels make the silver not available to public. They can claim the price to be whatever it is if people can not buy. It is bad fro investors and manuafacturers too.
Lawrence Jason Notes: Others have reported that Scotia Mocatta is completely out earlier today, and others said they just got some silver in today.
NO SILVER IN CANADA: In Toronto for example at Scotia Bank you can,t buy any silver for few months now.Two months ago i bought 400 ounce because that silver was kept for another person and he did not came to take the silver.I guess i was lucky,because the price is so low now my wife is angry with me,she think that we lost the money and the price will go much lower.I know that the z-----t criminals manipulate the market.I have no fear about the price going up soon.I invested about 80000$ in silver.For few weeks i call the Scotia Bank every day to check for silver,i want to buy some more,but there is no silver and i have a very god friend that work at the precious metals department.He told me the same thing,there is no silver for so long and the price still went down.People are going crazy,they want to buy,but there is not even 1000 ounce bars.Today i call the bank again,i call them almost every day and told me that they don,t have any kind of silver,nothing,zero,everything is empty.They told me that they have gold but not silver,i ask,when do you expect any silver?The lady told me that this month i cant buy any,maybe in october if an investor is low on cash and needs money.Here is the address and the the phone number if you dont believe me.Foreign Exchange&Precious Metals Scotia Plaza 44 King Street West,Toronto,Ontario M5H 1H1 TEL (416)866-4900 If you dont believe me call them and see that is true.God bless you.
Jason, I went to Greenville's only silver coin store in town. They are out of all pre 2008 silver eagles, but have a small supply of 2008 silver eagles. I bought a few rolls at $16/oz, which is about $5.00 over spot. He had 1 100 oz bar offered at 4.75 over. 2008 coins are allocated and he is waiting for more. He doesnt expect any older eagles until paper spot gets back to 17-20 range. He said it is very hard to find silver to buy now. Everyone is buying silver and no one is selling except at very high markups. Craig
I enjoyed your article this morning. I called Apmex to buy some silver this afternoon. They are out of 90%, rounds, and all bars. They are going to call me when they get some in. Tulving has only 1000 oz bars. I also called CNI and they also had 1000 oz bars.
When CNI gave me their spead on 1000 oz bars, I told them that they were $0.25 higher than Tulving. (content deleted)
I also called 5 coin shops in Madison, WI today. All are out. All wanted to sell me some even though they didn't have any. I told them to call me when they got any in stock - we'll see.
Keep up the great work!
I enjoy you emails on the silver. I tried to go to my coin shop (Lakewood Coins) in Lakewwod, Colorado today. The were 3 other people waiting for the store to open when I got there. The first Customer in wanted to buy silver and was told they had no bars of any weight, no rounds, no maple leafs, no silver eagles. It would be 4 to 6 weeks before they would have any. The only thing they had was 1 Bag of silver for $11,000.00 and other odd silver coins. I was really shocked even though I read your emails. I bought a 1/10th oz. gold eagle for $100.00. Just though I would let you know how things are in Denver.
I just wanted you to know that I went to the bank today at 3:30PM after seeing the price of silver drop to $10.75, after debating if I should wait for further price drops, I am glad I did. When I went into the bank to place an order for any kind of silver remaining, Nickolas the bank teller made a phone call to order my silver. The person on the other end of the phone line said they only had 300 Canadian maple leaf coins at $15 even! They had no 1000 ounce bars, no 100 ounce bars, no bars what so ever!! I told Nickolas that there is a world wide shortage of silver and he said "Maybe I should buy some?". I joked "Sorry I just purchased the last few ounces."
The economic con game of paper currency created out of nothing and paper promises of silver, gold, stocks and bonds is coming to an end and as a newly awakened individual since February I am glad I purchased on the way down and did not wait for the contraction before the explosion. Why? Because silver and gold is money and I got it at a discount when there were some supply left.
Hi, Have been following your emails here in UK - and buying silver as and when it is available in my local coin shop.
Before the silver price dropped, I was paying £10 - £11 for 1oz Britannias.
Yesterday I was quoted £14 for older coins and £18 for new 2008 Britannias - equivalent to nearly $32 !!!
That's what you call a hefty premium! - and people are buying.
Keep up the good work, Regards, Roger
HELLO AGAIN JASON I went to our local coin shop yesterday and was able to buy 2 Swiss 1 oz. gold bars for $840 each and a bag of $100 face value old coins for $960. He had no silver eagles, maples or any rounds or any other gold in stock. During our chat he mentioned his great concern at being unable to buy any 2008 silver eagles for his long time Christmas customers, and that very few people are bringing coins into sell. The availablity picture for gold and silver is indeed very bleak. Again I thank you for giving us a heads up on this story over the last 18 months. Don
“Just have a comment on the state of the silver market, at least in my local market,Victoria, British Columbia,” writes a reader. “I went to cash in on the recent increase of the gold/silver ratio -- to trade my gold for silver and then reverse the trade when the ratio (hopefully) drops -- at the largest coin dealer in the area. To my surprise, they were sold out of silver -- SOLD OUT!
“The dealer said the recent drop in silver had people lining up out the door to buy silver. They said in 30 years of business, they have never sold out of stock. Just from a purely social commentary, I would say the ‘gold rush’ is far from over.
“Alas, I went home still holding my gold -- not altogether a bad thing in today's market conditions.”
The NW Mint in Auburn, WA, told me today that it is a 4-6 MONTH wait for silver now. Another coin shop in Victoria also confirmed they are out and have "no idea" when they will get any. The last batch went it one day. He said, "I've been doing this for 30 years and have never seen anything like it". He sounded very frustrated to me. He does have some gold, which sounded more encouraging.
Who would have believed spot silver at 11-12 bucks when you can't find any? It is tragic yet somehow comical. Absurdity reigns!
Ted Butler and you guys are 100% correct. The proof is right in front of us now. Rather obvious, wouldn't you say?
Love reading your articles, great work!
Just wanted to let you know that I called Nortwest Territorial Mint today to order some silver; which they promise to deliver withing 10 weeks, but they would not take my order. They said they are too busy and the only thing they could do is take my number and call me back. Yeah. So, I gave them my number but it's one of those "don't call us, we'll call you" type of situations.
I was able to order some silver (Pan Am) from them before. Not today.
In any case, what in the world is happening to the spot price of silver???
Look forward to your articles.
In Belgium we don't know something like coin shops, after a long surch , I found a dealer in Ostend who's advertising on the internet and he is asking 20 euro for one ounce silver Eagle excl. taxes VAT 6 percent. 1 Euro is 1.4160 dollar. so one eagle cost you 30 dollar. delivery time 2 weeks , 210 in stock
that's 18.5 dollar over spot 6 percent VAT Included
I don't think he's sold a lot.
Dirk B. BELGIUM Jason Notes: Thank God we don't have it as bad as those in Europe.
Just to let you know that the shortage of retail silver has now arrived over this side of the Pond-- just checked availability with one of our main bullion dealers/fabricators Baird & Co (see www.goldline.co.uk)-- even at the prices they charge (UK £176 for a 500g bar !!!!) they are now sold out and offering 3 week lead times-- and these guys make their own bars !
As an aside, I have a fairly hefty investment in the ETF securities physical ETF-- given the difficulty (and crazy prices including VAT tax here in the UK) of owning physical metal oneself, would you recommend James Turks goldmoney.com physical storage programme as a safe alternative?
Those are some of the silver shortage reports from September 9th to the 15th.
I have about another 40 emails that I saved that report silver shortages from September 3rd to the 9th, but that's all for now.
Oh, here's one.
My webmaster, Greg Kyle, who writes an excellent FAQ on silver at www.silveriswealth.com who handles my billing for the website, has been trying to convince a friend of ours from our college days to buy silver. Our friend always buys at the top. Finally, he's now saying he might buy some now. But he says, "I'll wait for it to go up a bit, and then I'll buy only 100 oz. bars!"
The guy is so willfully clueless, it's just amazing. There are no 100 oz. bars for sale in this market; all the wholesalers of the bars are sold out! Boy is he in for a shock! He acts as if his paper money is worth something, like the "customer is king" or some such nonsense, as if his paper money can instantly conjure up what he desires, whenever he desires it. Fat chance.
More likely, he'll find one of the online stores offering bars, place an order, wait 5 months, and maybe get nothing at all as the companies go bankrupt as the price heads back up.
Food for thought: If silver was abundant, and if all the refineries took orders at $15-$20/oz. for silver several months ago, then why can't they all buy silver now at $10, and instantly catch up on all orders? Oh, I suppose you know the reason for that. I'm sure you've heard about the shortage of silver by now?
My offer: For the price of just a few ounces of silver per month, you can look at my silver stock portfolio. Once a month, at the end/beginning of the month, around the 31st or 1st, for paying subscribers, I update the stocks I own and the percent of each stock or position in my portfolio. It's very simple. Very revealing. Very useful. It's not trading advice. It's not a model portfolio. It's my portfolio. Sign up here: http://silverstockreport.com/customerservice.htm Paying subscribers also get access to the member's forum where some very, very smart people discuss silver, stocks, economic issues, growth rates, why peak oil & global warming are frauds, and many other things.
Je sors cet extrait car il me semble être très fondé. La question étant combien de temps cette déconnexion peut-elle être maintenue????
it is now almost impossible to get silver and gold at anywhere near the prices given by the paper market, in order to protect onesself from the turmoil in the paper markets. I can't think of a circumstance more desireable for a tyrannical government to achieve, in pulling out all the stops to protect a fiat currency regime. It is better than outlawing ownership of precious metals, because such a move is very visible and basically broadcasts the failure of the government's financial managers.
Mints, refiners cut off gold, silver supplies, Irish dealer says
Submitted by cpowell on 04:33PM ET Sunday, September 28, 2008. Section: Daily Dispatches Gold and Silver Dealer Reports 'Unprecedented' Shortage of Metals By David Clerkin The Sunday Business Post, Dublin, Ireland Sunday, September 28, 2008 http://www.thepost.ie/post/pages/p/story.aspx-qqqt=MARKETS-qqqm=nav-qqqi... A surge for demand in gold and silver has resulted in an unprecedented shortage of the metals for retail investors in recent days, according to Gold and Silver Investments, a Dublin-based firm that allows retail investors to speculate on movements in the value of precious metals. Gold and Silver Investments director Mark O'Byrne said the supply of gold and silver available for small retail investors suffered a dramatic deterioration within hours on Friday, as wholesalers reported that government mints and refiners, the primary suppliers of the metals, had stopped offering new supplies. "It's absolutely unprecedented," said O'Byrne, who said the shortages were likely to drive up the costs of gold and silver in the secondary market. "This did not happen even in the 1930s and the 1970s, and will result in markedly higher prices in the coming months." According to O'Byrne, gold and silver were now easily accessible only in the primary market, which consisted of central banks and other major traders of the precious metals. However, he said that minimum transaction sizes in this market were out of reach for most retail investors -- at approximately $350,000 for gold and $135,000 for silver. * * * Join GATA here: Toronto Resource Investment Conference Saturday-Sunday, October 4-5 Metro Toronto Convention Centre, Toronto, Canada http://goldshow.ca/ch_tor2008.html New Orleans Investment Conference Thursday-Monday, November 13-18, 2008 New Orleans Marriott Hotel http://www.NewOrleansConference.com * * * Help Keep GATA Going GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at http://www.gata.org/.