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What's up with 1,000 oz. bars?

CaptHenwayCaptHenway Posts: 32,128 ✭✭✭✭✭
in Precious Metals
Two weeks ago we bought in two 1,000 oz. silver bars, from different people.
Friday one of the Montana dealers on our d2d network said he had two coming in and was looking for anybody interested in them.
This morning a Colorado dealer on the same network said he had one or two coming in and was looking for anybody interested in them.

Are a lot of people taking delivery on silver contracts?
Who had the COMEX warehouse figures?

TD
Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.

Comments

  • AboutAgAboutAg Posts: 201 ✭✭
    The COMEX contracts are for 5 1,000oz bars (there are mini contracts, but those are cash settled). So I doubt it is people taking delivery on silver contracts (I'm sure people doing that would either keep them, or sell the whole lot).

    Back when there was a shortage of 'retail silver' in 1998, the 1,000oz bars were being sold as an alternative to the high premiums. But I can't see why people would be selling them at the same time now.

  • BigEBigE Posts: 6,949 ✭✭✭
    The mini's don't have to be cash settled ag, I got one a little while back off my contract---------BigE
    I'm glad I am a Tree
  • AboutAgAboutAg Posts: 201 ✭✭


    << <i>The mini's don't have to be cash settled ag, I got one a little while back off my contract---------BigE >>



    Which exchange was this on? The COMEX minis are cash settled -- see http://www.cmegroup.com/trading/metals/precious/e-mini-silver_contract_specifications.html .

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