At 'what' price will all of the online silver dealers (who are now currently out/holding) begin to sell silver at again. >>
There's no incentive to sell until there is a viable market and this may no be possible if there are only buyers and no sellers. If you have a supply of silver and no where to replenish it then why sell?
This situation could persist indefinitely if it weren't for two things; human nature and the users will need silver in the not so distant future. They might be able to hold out for a long time with 1000 oz bars and new mine production with some curtailment of usage but they will panic if this situation lasts very long. They also know that the producers will start selling into the physical market to in- crease their profits since physical prices are higher. Even before their supplies begin shrinking they'll start buying too. Remember that industry keeps very lean supplies in modern times.
This might be an exceedingly explosive combination of events. This has been visible for two and a half generations and the users have taken almost every imaginable step to exascerbate it in a sorry at- tempt to fool mother nature.
It's not impossible that enough big longs can be frightened into sell- ing silver to put this off a little longer. A recession could intercede in the meantime to delay it yet more. As always there's no sure thing except that we are running a deficit in silver that will grow over the long term. This will be true until there is a structural change in the way we obtain the metal. ie- at some point in the unforeseeable future.
At 'what' price will all of the online silver dealers (who are now currently out/holding) begin to sell silver at again. >>
I've heard $19.50 and up. Still, there won't be that much available.
"Lenin is certainly right. There is no subtler or more severe means of overturning the existing basis of society(destroy capitalism) than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and it does it in a manner which not one man in a million is able to diagnose." John Marnard Keynes, The Economic Consequences of the Peace, 1920, page 235ff
Just called Gaithersburg Coin Exchange in Maryland. They have Eagles in stock. The dude who answered the phone didn't seem to friendly though, he hung up the phone in my face after he gave me a quote.
It's good to see at least Izzy has finally gotten bullish on silver. >>
Not sure if I buy his Silver Eagle theory. Silver Eagles are just bullion after all. >>
Eagles are nothing except an overpriced way to buy and sell an extremely high grade and quality of silver. It's possible they'll take on a mystique in the future if large numbers are melted and they probably will be.
It was his reflection on high gold prices being good for silver since they provide a higher target for silver prices that prompted my comment on his being bullish finally.
<< <i>
Eagles are nothing except an overpriced way to buy and sell an extremely high grade and quality of silver. It's possible they'll take on a mystique in the future if large numbers are melted and they probably will be.
>>
But one thing is for sure-- they are very popular among the hoarders.
<< <i> Eagles are nothing except an overpriced way to buy and sell an extremely high grade and quality of silver. It's possible they'll take on a mystique in the future if large numbers are melted and they probably will be. >>
But one thing is for sure-- they are very popular among the hoarders. >>
Not all of us. I don't care for them at all as far as silver goes.
Sure, I've got a large load of them but I only paid spot or less when I bought them, usually in batches of various types of silver.
I don't seek them out, just pick them off as they show up as regular ounces of silver. Sometimes I pay a small premium, but that's rare.
"Lenin is certainly right. There is no subtler or more severe means of overturning the existing basis of society(destroy capitalism) than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and it does it in a manner which not one man in a million is able to diagnose." John Marnard Keynes, The Economic Consequences of the Peace, 1920, page 235ff
As someone who has new to this, what is the best way for myself to purchase silver? the bay seems overprices to me and from what i ve been reading everyone is out? What should i do?? A few bars, coins, junk coins?
<< <i>As someone who has new to this, what is the best way for myself to purchase silver? the bay seems overprices to me and from what i ve been reading everyone is out? What should i do??
A few bars, coins, junk coins? >>
Try Gaithersburg Coin Exchange, they have stock, I called 'em earlier. They quoted me $19.50 for silver eagles-- 50 oz. minimum order.
<< <i>As someone who has new to this, what is the best way for myself to purchase silver? the bay seems overprices to me and from what i ve been reading everyone is out? What should i do?? A few bars, coins, junk coins? >>
Go down to your local coin shop, in person with cash. Ask to see 1 ounce pieces. Pay. Leave.
<< <i>Well thats the problem, i dont have a local coin shop >>
My current theory on the situation is that these coin dealers maybe sick of answering phone calls to people who may or may not come into to buy. It's wasting their time. Take gaithersburg coin in the above post. I've been in that shop. He always has lots of metal. I would bet that if you went into his store, the 50oz minimum would NOT apply. Just go in and ask to buy a roll of eagles. I bet he has it and you would pay and be out in a minute or two.
I think that alot of the newbies are getting the dealers upset, including the big on-line dealers
<< <i>
I think that alot of the newbies are getting the dealers upset, including the big on-line dealers >>
I'm not a newbie silver buyer, but I suspect you're correct by the way he abruptly hung up in my face. Nice customer service!
They do have stock though (for now), that has been confirmed.
<< <i>Well thats the problem, i dont have a local coin shop >>
My current theory on the situation is that these coin dealers maybe sick of answering phone calls to people who may or may not come into to buy. It's wasting their time. Take gaithersburg coin in the above post. I've been in that shop. He always has lots of metal. I would bet that if you went into his store, the 50oz minimum would NOT apply. Just go in and ask to buy a roll of eagles. I bet he has it and you would pay and be out in a minute or two.
I think that alot of the newbies are getting the dealers upset, including the big on-line dealers >>
<< <i> I think that alot of the newbies are getting the dealers upset, including the big on-line dealers >>
I'm not a newbie silver buyer, but I suspect you're correct by the way he abruptly hung up in my face. Nice customer service! They do have stock though (for now), that has been confirmed. >>
I think I've found the problem at Gaithersburg coin they were posted as having silver:
<< <i>
I think that alot of the newbies are getting the dealers upset, including the big on-line dealers >>
I'm not a newbie silver buyer, but I suspect you're correct by the way he abruptly hung up in my face. Nice customer service!
They do have stock though (for now), that has been confirmed. >>
I think I've found the problem at Gaithersburg coin they were posted as having silver:
Silver shortage story >>
Yeah I read that earlier and posted it in the Pan American silver thread. Those comments about NWTM are disturbing if true.
It appears to me that Northwest Territorial Mint is bankrupt. Based on Ross Hansen's letter to me last week, a reader did some calculations based on the admissions in that letter. Ross sells 20,000 oz. of silver per day. And Ross has 300,000 oz. of silver "in the pipeline", and deliveries are about 60 days, at best. There are about 43 business days in 60 days. (5/7). 43 days worth of silver, for Ross, at 20,000 oz./day, should be about 860,000 ounces, creating a deficit of about 560,000 ounces of silver that they are short, and have taken orders for, and have not yet bought that silver in this rising market from $13 to $20/oz.
I received 20 more compaints about the Northwest Territorial Mint since Friday, some readers waited 5 months to get silver, others have orderd silver in November 2007, and have not received it yet.
On Friday, one man reported to me that he walked in to the Northwest Territorial Mint and tried to get 100 oz. bars, and could only get 6 bars.
I can also say that NWTM did a very poor job for me a couple of years ago on some 1/2 oz. gold eagles. They "didn't have them in stock" and it took about 45 days after my wire transfer to get my order, which was a pretty good sized order. I will never order from them again.
Q: Are You Printing Money? Bernanke: Not Literally
Comments
<< <i>Ted Butler: "All in" >>
It's good to see at least Izzy has finally gotten bullish on silver.
At 'what' price will all of the online silver dealers (who are now currently out/holding) begin to sell silver at again.
<< <i>So, my question is this:
At 'what' price will all of the online silver dealers (who are now currently out/holding) begin to sell silver at again. >>
kitco was BUYING 90% at spot and out of bricks last time i checked.
<< <i>So, my question is this:
At 'what' price will all of the online silver dealers (who are now currently out/holding) begin to sell silver at again. >>
There's no incentive to sell until there is a viable market and this
may no be possible if there are only buyers and no sellers. If you
have a supply of silver and no where to replenish it then why sell?
This situation could persist indefinitely if it weren't for two things;
human nature and the users will need silver in the not so distant
future. They might be able to hold out for a long time with 1000
oz bars and new mine production with some curtailment of usage
but they will panic if this situation lasts very long. They also know
that the producers will start selling into the physical market to in-
crease their profits since physical prices are higher. Even before
their supplies begin shrinking they'll start buying too. Remember
that industry keeps very lean supplies in modern times.
This might be an exceedingly explosive combination of events. This
has been visible for two and a half generations and the users have
taken almost every imaginable step to exascerbate it in a sorry at-
tempt to fool mother nature.
It's not impossible that enough big longs can be frightened into sell-
ing silver to put this off a little longer. A recession could intercede in
the meantime to delay it yet more. As always there's no sure thing
except that we are running a deficit in silver that will grow over the
long term. This will be true until there is a structural change in the way
we obtain the metal. ie- at some point in the unforeseeable future.
<< <i>So, my question is this:
At 'what' price will all of the online silver dealers (who are now currently out/holding) begin to sell silver at again. >>
I've heard $19.50 and up. Still, there won't be that much available.
John Marnard Keynes, The Economic Consequences of the Peace, 1920, page 235ff
<< <i>
<< <i>Ted Butler: "All in" >>
It's good to see at least Izzy has finally gotten bullish on silver.
Not sure if I buy his Silver Eagle theory. Silver Eagles are just bullion after all.
<< <i>
<< <i>
<< <i>Ted Butler: "All in" >>
It's good to see at least Izzy has finally gotten bullish on silver.
Not sure if I buy his Silver Eagle theory. Silver Eagles are just bullion after all. >>
Eagles are nothing except an overpriced way to buy and sell an extremely high grade and quality of silver. It's possible they'll take on a mystique in the future if large numbers are melted and they probably will be.
It was his reflection on high gold prices being good for silver since they provide a higher target for silver prices that prompted my comment on his being bullish finally.
<< <i> Eagles are nothing except an overpriced way to buy and sell an extremely high grade and quality of silver. It's possible they'll take on a mystique in the future if large numbers are melted and they probably will be. >>
But one thing is for sure-- they are very popular among the hoarders.
<< <i>
<< <i>
Eagles are nothing except an overpriced way to buy and sell an extremely high grade and quality of silver. It's possible they'll take on a mystique in the future if large numbers are melted and they probably will be.
>>
But one thing is for sure-- they are very popular among the hoarders. >>
Not all of us. I don't care for them at all as far as silver goes.
Sure, I've got a large load of them but I only paid spot or less when I bought them, usually in batches of various types of silver.
I don't seek them out, just pick them off as they show up as regular ounces of silver. Sometimes I pay a small premium, but that's rare.
John Marnard Keynes, The Economic Consequences of the Peace, 1920, page 235ff
A few bars, coins, junk coins?
<< <i>As someone who has new to this, what is the best way for myself to purchase silver? the bay seems overprices to me and from what i ve been reading everyone is out? What should i do?? A few bars, coins, junk coins?
Try Gaithersburg Coin Exchange, they have stock, I called 'em earlier. They quoted me $19.50 for silver eagles-- 50 oz. minimum order.
<< <i>As someone who has new to this, what is the best way for myself to purchase silver? the bay seems overprices to me and from what i ve been reading everyone is out? What should i do??
A few bars, coins, junk coins?
Go down to your local coin shop, in person with cash. Ask to see 1 ounce pieces. Pay. Leave.
coinpage.com
<< <i>Well thats the problem, i dont have a local coin shop >>
My current theory on the situation is that these coin dealers maybe sick of answering phone calls to people who may or may not come into to buy. It's wasting their time. Take gaithersburg coin in the above post. I've been in that shop. He always has lots of metal. I would bet that if you went into his store, the 50oz minimum would NOT apply. Just go in and ask to buy a roll of eagles. I bet he has it and you would pay and be out in a minute or two.
I think that alot of the newbies are getting the dealers upset, including the big on-line dealers
coinpage.com
<< <i> I think that alot of the newbies are getting the dealers upset, including the big on-line dealers >>
I'm not a newbie silver buyer, but I suspect you're correct by the way he abruptly hung up in my face. Nice customer service! They do have stock though (for now), that has been confirmed.
<< <i>
<< <i>Well thats the problem, i dont have a local coin shop >>
My current theory on the situation is that these coin dealers maybe sick of answering phone calls to people who may or may not come into to buy. It's wasting their time. Take gaithersburg coin in the above post. I've been in that shop. He always has lots of metal. I would bet that if you went into his store, the 50oz minimum would NOT apply. Just go in and ask to buy a roll of eagles. I bet he has it and you would pay and be out in a minute or two.
I think that alot of the newbies are getting the dealers upset, including the big on-line dealers >>
Ok that still doesnt answer my question
<< <i>
<< <i>
I think that alot of the newbies are getting the dealers upset, including the big on-line dealers >>
I'm not a newbie silver buyer, but I suspect you're correct by the way he abruptly hung up in my face. Nice customer service!
They do have stock though (for now), that has been confirmed. >>
I think I've found the problem at Gaithersburg coin they were posted as having silver:
Silver shortage story
coinpage.com
<< <i>
<< <i>
<< <i> I think that alot of the newbies are getting the dealers upset, including the big on-line dealers >>
I'm not a newbie silver buyer, but I suspect you're correct by the way he abruptly hung up in my face. Nice customer service! They do have stock though (for now), that has been confirmed. >>
I think I've found the problem at Gaithersburg coin they were posted as having silver: Silver shortage story >>
Yeah I read that earlier and posted it in the Pan American silver thread. Those comments about NWTM are disturbing if true.
<< <i>Ok that still doesnt answer my question >>
What area of the country are u in? I'll try and find a shop for u.
coinpage.com
It appears to me that Northwest Territorial Mint is bankrupt. Based on Ross Hansen's letter to me last week, a reader did some calculations based on the admissions in that letter. Ross sells 20,000 oz. of silver per day. And Ross has 300,000 oz. of silver "in the pipeline", and deliveries are about 60 days, at best. There are about 43 business days in 60 days. (5/7). 43 days worth of silver, for Ross, at 20,000 oz./day, should be about 860,000 ounces, creating a deficit of about 560,000 ounces of silver that they are short, and have taken orders for, and have not yet bought that silver in this rising market from $13 to $20/oz.
I received 20 more compaints about the Northwest Territorial Mint since Friday, some readers waited 5 months to get silver, others have orderd silver in November 2007, and have not received it yet.
On Friday, one man reported to me that he walked in to the Northwest Territorial Mint and tried to get 100 oz. bars, and could only get 6 bars.
I can also say that NWTM did a very poor job for me a couple of years ago on some 1/2 oz. gold eagles. They "didn't have them in stock" and it took about 45 days after my wire transfer to get my order, which was a pretty good sized order. I will never order from them again.
I knew it would happen.