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NO silver except 1000oz bars and no gold save for 400 oz bars at kitco.
Bullion direct, No Silver, No Platinum, No Palladium, Still some 1 oz coins.
Wow!
Bullion direct, No Silver, No Platinum, No Palladium, Still some 1 oz coins.
Wow!
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Re: IT's ALL GONE! (All of the bullion is Gone!)
Perth Mint doubles Gold output
http://www.bloomberg.com/apps/news?p...er=commodities -
Re: IT's ALL GONE! (All of the bullion is Gone!)
Originally posted by amitsaluja View Post
Hmmm.... From the same Bloomberg piece
Do you see, what I see ? ;)``I see this demand continuing while there's this uncertainty,'' Suchecki said. ``But I don't think we're at the point where the average person who's never bought gold before is suddenly trying to buy physical gold. There's not that mass-market demand as yet.''Comment
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Re: IT's ALL GONE! (All of the bullion is Gone!)
I am able to get my hands on physical.
Specifically $20 Libs and Saints (1875-1933 US currency).
When I started buying about a year and a half ago, premiums were about $30 over gold spot. Now its about $250-300 over spot, and rising.
The dealer I am working with is still able to get his hands on quantity Numismatic and standard US Gold Eagles.
Eric put a recommendation out on this fine gentleman and his Lex Coin (MA) back on the original "America's Bubble Economy" website, to which I have not returned in quite some time.
Eric has told me stories about getting coins (bullion speciifcally) requiring 2-3 weeks advanced payment prior to delivery.
It has worked out well for me and I will forever thank Eric for the recommendation. Thanks Eric!Comment
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Re: IT's ALL GONE! (All of the bullion is Gone!)
Anyone want to go in on a 400-oz gold bar with me? If you chip in, I promise to keep it safe for you!Originally posted by jtabeb View Post
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Re: IT's ALL GONE! (All of the bullion is Gone!)
Tulving has 32.15 oz (1 kilo) gold bars in stock. I just ordered one. If what you're saying is true, maybe I should have ordered two :eek:
He just so happened to raise the premium from $20/oz over spot to $40/oz over spot while I was trying to call in to place my order too. That's an unfortunate way to lose an extra $650 or so.
Also, he just got some 1 oz eagles in and he's charging $99/oz over spot! I just ordered some last week for $40/oz over spot. Something big is happening and I'm not quite sure what it is but I would hate to be short gold right now :confused:
Pinhead, would you mind naming your dealer?Comment
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Re: IT's ALL GONE! (All of the bullion is Gone!)
Dang. I wish I had enough cash to buy a kilo of gold...Comment
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Re: IT's ALL GONE! (All of the bullion is Gone!)
Ha ha, maybe if I could afford half right now! :p Tell you what though, I will sell you a nice call option for a hefty premium. That way you will get all the benefits of rising prices without so much downside risk....What do you think??Anyone want to go in on a 400-oz gold bar with me? If you chip in, I promise to keep it safe for you!Comment
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Re: IT's ALL GONE! (All of the bullion is Gone!)
I didn't really want to do it that way but my only other option was to pay $99/oz over spot for gold eagles. I just couldn't do it! I normally don't buy this much at one time.Dang. I wish I had enough cash to buy a kilo of gold...
I'll probably make one more purchase at some point to get my portfolio allocation to 50% PM/50% cash and then wait to see what EJ predicts next...Comment
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YO Pinhead
YO Pinhead, did you see the request in this thread for a reference to your coin dealer (why am I asking for a reference from a pinhead? I'm losing it. But it is empirical evidence of exogenous demand).Originally posted by pinhead View PostComment
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Re: IT's ALL GONE! (All of the bullion is Gone!)
Gold dropt to $849 per troy oz to-day. DROPT. Like fell. Like went to the crapper. And Platinum is below $1000 per troy oz. Oil is in the upper $70s.Originally posted by pinhead View Post
I keep telling you guys, this is a DE-flation. Like prices fall. Like crash city. Like: "Buddy, can you spare a dime?"
Anyone telling you about hyper-inflation is spinning, or else he is promoting for the gold mines, or promoting gold stoxx, or else trying to hang you with so-called rare coins.
And speaking of so-called rare coins: Be on the watch for anyone trying to sell you rare coins as a gold investment or as an inflation hedge.
If you want gold, buy GOLD--- the uglier, the better. Buy as near to gold content value (instrinsic worth) as possible. And if you want silver, buy as near to silver worth as possible.
And if Kitco is only too willing to ship you 1000 troy oz. bars of silver or kilo bars of gold, there is certainly NO shortage of precious metals at all------- which explains why precious metals are dropping.
For those of you sitting in the peanut gallery observing: gold dropt $62 per oz. to-day, October 10th, alone. Everything is dropping; this is DE-flation, not inflation.
Hopefully with this crash now, the "bubble days" in America are over for good. And hopefully this November, we get rid of the neo-cons in Washington who gave us this bubble economy and crash now.Last edited by Starving Steve; October 10, 2008, 10:12 PM.Comment
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Re: IT's ALL GONE! (All of the bullion is Gone!)
Given current events I thought I'd check in yesterday on the unallocated gold I have via certificate at Perth Mint. I've held it since June06 and am now enjoying some nice gains as the AUD has plummeted 26% in the last few months. I live in Sydney, so AUD-relative performance matters most to me.
Anyway, had a chat with their manager of orders and generally they are as busy as a one-armed bricklayer in Baghdad. Here's what he answered to my questions:
- Big orders from EU banks have come through and that has taken a lot of their time. I'm led to believe this was for at least allocated gold that required physical bars and coin, don't know about shipping ex Perth.
- Generally, the big orders took a chunk of the physical inventory of manufactured gold products (as opposed to unallocated reserves) and mean that they have a small delay for fabrication of some products when ordered. Days, rather than weeks.
- Coins have been most popular and they are essentially sold as soon as they have been fabricated.
- They have plenty of fabricated bullion in stock from 1/20 oz up to 1000oz bars.
- Essentially, if I wanted to convert to allocated/take delivery, the main delay is the day or two for my order to get the top of the queue.
- Anyone been to Perth? Sydney is our busiest city which is s l o w compared to London, HK, NY, LA, etc. Perth is even more laid back.
- The point was, Perth Mint doesn't normally have a huge day-to-day order load and while the physical gold is there, any bottleneck is at the order processing end of the system and subsequent fabrication to order.
- About half the enquiries they are getting are investigating opening accounts (investigating rather than actually going through the motions of opening one). The rest are from people like me checking in and enquiring about the cost/time for conversion from unallocated to allocated to delivery.
- As for the response time for me... i got through on the phone first call, waited for 2 mins on hold to speak to someone. Pretty normal. Then sent an email to an address they gave me and had a response from a human with details within 2 hours. Then got through to that person on the phone first try.
- If I went to Perth tomorrow I could probably take delivery in person within 24 hours.
- Converting from unallocated to allocated means sending in your certificate and then receiving a new one with the allocation details on it (numbered bars, etc).
- Given the huge demand for certificates, they've run out of the watermarked paper and are getting more in, but it's security paper (watermarked, etc) so that isn't a matter of dropping into Kinkos and asking for a few reams...
Not sure if I'm going to convert to allocated just yet, it costs 1.5% of the value of my holding for a year in advance.
Anyway, that was my experience, FWIW.Comment
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Re: IT's ALL GONE! (All of the bullion is Gone!)
That bubble economy in your nation seems to have done exceptionally well under Bill Clinton, who as far as I can recall has never been accused of being an neo-con.Originally posted by Starving Steve View PostComment
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Re: IT's ALL GONE! (All of the bullion is Gone!)
Steve,
Phirang and $#* notwithstanding, the present deflation is despite the Fed literally throwing in the kitchen sink of credit creation.
You must have noticed the pattern: each week is seeing yet another new government intervention:
Fannie/Freddie nationalization
Lehman collapse, AIG nationalization
ABCP accepted by government
Fed loaning to corporations
This week it is the Fed buying directly into banks
Next up:
major bank nationalizations
industry nationalizations : auto, airline, etc
And at the end: dollar revaluations
I may be wrong, but it is definitely much too early to be definitively say it will be a Great Depression or a Weimar hyperinflation, or something different.Comment
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Re: IT's ALL GONE! (All of the bullion is Gone!)
wrong...Originally posted by Starving Steve View Post
No Deflation! Disinflation then Lots of Inflation
Still no deflation: Disinflation then lots of inflationComment
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