Goldmart email today: Having trouble filling silver orders
Weiss
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"We are writing to inform you that currently we are experiencing some delays in processing most silver bullion orders due to the recent surge of volume and production issues from the top-down.
Right now there is a major production and supply problem for silver bullion at the U.S. and Royal Canadian mints as well as many of the private mints we distribute silver products for. These delays have created inventory gaps which have led us to adjust the status of many silver bullion products as being delayed or out of stock."
They indicate they're not having problems with gold, at least not with product. But they're experiencing shipping delays because of volume.
Right now there is a major production and supply problem for silver bullion at the U.S. and Royal Canadian mints as well as many of the private mints we distribute silver products for. These delays have created inventory gaps which have led us to adjust the status of many silver bullion products as being delayed or out of stock."
They indicate they're not having problems with gold, at least not with product. But they're experiencing shipping delays because of volume.
We are like children who look at print and see a serpent in the last letter but one, and a sword in the last.
--Severian the Lame
--Severian the Lame
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Provident is shipping late, Goldmart stated it, Gainesville has problems filling their orders too.
In God We Trust.... all others pay in Gold and Silver!
For example with 100 oz bars: Two years ago it was over 1,000 bars immediately available, no problem. A year ago, ranged from 400-800 bars. By December, 200-400 bars. After a sudden pop in January (SLV silver release I think) it's been in real decline. Now, today, twenty nine (29) bars in stock. Nothing listed as coming soon.
Only a large price increase will solve this.
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We are witnessing the decoupling of the physical price from the paper price.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
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<< <i>Premiums are up to $7.50 on ASE's and the only sound in the 99.5% empty APMEX warehouse are crickets. >>
...and APMEX is buying at almost $4.00 over spot!
Kuggies were $1469, 90% was 20x.
Problem wasn't gold availability....it was silver.
I'm lucky that I do not have to do mail order, hope and pray mail order.
<< <i>Do you really believe that they are out of stock? Maybe they are holding back for a price rebound. >>
These guys buy and take delivery of Silver weekly, there is no incentive to 'hold back' silver, rather the incentive is to increase the premium and sell as many as you can to meet the demand.
If I had a choice of running through 20,000 units a week X $4.00 vs. 20,000 x $1.25 (before), which would you be selling as fast as you could get it in and out the door?
I wouldn't be thinking, hey, I'll jus carry 20,000 units (20K x $23 = $460,000) in the warehouse on the speculation the price will rise 20% by next week (to beat the $4.00 spread per coin)
<< <i>I've been tracking online silver supplies at APMEX for 2+ years - basically since 1000 OZ bars stopped being immediately available - and the number of items in stock has been steadily shrinking.
For example with 100 oz bars: Two years ago it was over 1,000 bars immediately available, no problem. A year ago, ranged from 400-800 bars. By December, 200-400 bars. After a sudden pop in January (SLV silver release I think) it's been in real decline. Now, today, twenty nine (29) bars in stock. Nothing listed as coming soon.
Only a large price increase will solve this. >>
But I thought TPTB driving the price of silver futures into the basement would free up a lot of supply? What about all those tonnes of silver that SLV was supposed to have and
should have sold into the market?
It doesn't matter what the future's market says. These coin and bullion shop orders buy and sell on real supply and demand....not on wishes generated by high frequency trading
computers. The premium on 90% silver has been growing long before this recent smackdown. Seems the peeps prefer to keep the real thing. The HFT's can keep their digi-silver.
<< <i>Almost everything is out of stock and prices have gone up. 2013 1 oz. Austrian Silver Philharmonic $2.69 over spot a couple of days ago, $3.19 now and its out of stock. >>
Beats $3 under spot and indefinite backorder!