Gold at $730, Kitco Out Of Everything

[metalman]

Re: Gold at $730, Kitco Out Of Everything

As an aside, I spent 25 minutes on hold with Kitco this AM (10/23) and they are in fact out of everything except 400 oz bars.

My interest was in the 100 oz bar, but am considering the 400 oz bar as well.

Some beginner notes I learned from Kitco.

The bars (100 oz and above if I recall) are serial numbered and have "chain of custody" documentation when vaulted. Once they are removed fromt the vault, to say a safety deposit box, the chain of custody is broken and to resell the bullion it must be assayed. Kitco says 2-3% of value assessed for assay cost. Yikes!

Bars can only be moved with armored truck, thus from Kitco to my location NW US estimated freight is US 500. Another Yikes.

That coupled with the 28% collectables tax, can anyone here tell me that is faster on a calculator than me at what price/oz given above fee increments and taxes that a bullion bar would make sense? Assuming annulized inflation of 10%, would gold not have to clear approx. 1,100 oz to even work as insurance?

Appreciate any input and please excuse my ingorance.

RP

back when i was buying in 2001 there were these goldbugs ranting about how some day all the gold would be gone in a panic and blah, blah, blah.

well... here we are. no gold. but prices are falling not rising.

what if the 'sane' bankers and fed and pr hacks in the press were wrong and the 'crazed' goldbugs were right, but they got the paper/physical thing wrong?

[sutro]

Re: Gold at $730, Kitco Out Of Everything

The West Coast USA price for plastic soda bottles has dropped over 1000% in the last two weeks with dealers stockpiling while they wait for mills to accept delivery. We are talking $420 a ton two weeks ago versus $40 today!

Deflation Mania Baby!

[pwcmba]

Re: Gold at $730, Kitco Out Of Everything

found some Eagles at Apmex

http://www.apmex.com/Category/290/Go...08__Prior.aspx

[erw698]

Re: Gold at $730, Kitco Out Of Everything

Guys, people are buying gold because they CANT GET DOLLARS INSTEAD.

THAT'S WHY THERE'S A GLOBAL GOLD SHORTAGE... BECAUSE THERE'S A DOLLAR SHORTAGE!

IT HAS 0 TO DO WITH "INFLATION", which, btw, IS GONE.

hmmm, so just what are people buying the gold with? Monopoly Money?

:confused:

[tk55]

Re: Gold at $730, Kitco Out Of Everything

From what I've read and from direct observation, there appears to be a RETAIL squeeze, but not a BULK shortage. Dealers are taking advantage (rightfully so given the dearth of 1oz coins!) of orders <$100k, but seem to still be charging a not-unreasonable (but *noticeably* higher I might add) spread on bulk.

Disclaimer: I believe there to be a disconnect between paper and physical, just not to the extent (on average) others may think.

[mooncliff]

Re: Gold at $730, Kitco Out Of Everything

Many outside Japan have been saying for months that they were having difficulty taking physical delivery of precious metal coins. The Perth Mint, US Mint, and other mints have suspended issuing coins, etc.

There has been no problem in Japan buying 1, 1/2, 1/4, and 1/10 oz gold Maple Leaf coins and other precious metal coins.

Until now.

Tanaka Kikinzoku Kogyo, a major precious metals retailer in Japan, recently announced to customers that it had no platinum coins left. Shortly thereafter, sales representatives were saying that they had essentially no gold coins left, and that they had no idea when platinum and gold coins would be available.

December 10, 2008

[pwcmba]

Re: Gold at $730, Kitco Out Of Everything

Kitco has some items again-

https://online.kitco.com/bullion/completelist.html

[pwcmba]

Re: Gold at $730, Kitco Out Of Everything

1 oz Austrian Philharmonic Gold Coins are basically gone!

http://www.apmex.com/APMEXTop40/Default.aspx

http://www.bulliondirect.com/nucleo/...(1.00_oz).html

if you believe 'em kitco does still show it though

https://online.kitco.com/bullion/completelist.html