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25% Of Scotia Mocatta's Silver Transferred From "Registered" To "Eligible" Status: A 45% Reduction In "Physical"
Something interesting appeared in the daily NYMEX report of its silver warehouse stockpile data: Canada's largest bullion depository (and one of five total) reclassified a whopping 5.2 million ounces of silver from Registered to Eligible status. In order to get a sense of how big this amount is, which amounts to just under $238 million at today's fixing price, it represents just over 25% of the total silver stored at Scotia Mocatta, and about 5% of the total silver held across all depositories. The reason for this substantial shift is given as follows: "due to a reporting reclassification, 5,287,142 t oz was moved from Registered to Eligible." That's a pretty substantial reporting reclassification. Of course it could well be nothing but that, although one would imagine that a fat finger is somewhat unlikely when it comes to such a material amount. On the other hand, as those who follow the NYMEX data know too well, registered silver is actual physical Comex silver. Eligible on the other hand is sometimes called "someone else's silver" as it does not go through assays on exit/selling events. In other words, this is silver that can not be used to make delivery under a futures contract. As a result of this reclass, total registered silver dropped by 13% from 41.0 million ounces to 35.8 million. Assuming one does not have full faith in the simple error story, does this mean that deliverable silver just dropped by 13% overnight (this event occurred yesterday, but was reported as usual with a 24 hour delay)? And if so, is this effective transformation of physical to semi-paper silver indicative of what we may expect from other depositories in the next few days as the delivery notices start coming in?
Snapshot of silver holdings (link):
For those who are confused about the distinction between the two categories, SilverAxis has done a good analysis:
For those who aren’t familiar with the terminology, the registered category of COMEX warehouse bullion stocks generally refers to gold and silver bars against which COMEX warehouse receipts are outstanding. The COMEX publishes these stocks on a daily basis and they can be found here: Silver | Gold. The registered category is the total pool of gold and silver available at any time to meet delivery requirements under expiring futures contracts or to establish initial futures contract positions through a transaction called exchange-for-physicals (I’ll explain this another time). It is important to realize, however, that many parties holding COMEX gold and silver in registered form have no intention of making their holdings available for delivery. By this I mean that such parties are neither (1) holding a short futures position against the warehouse receipt nor (2) willing to sell their registered metal (warehouse receipts) to a party with a short futures position. Indeed, a substantial portion of those holding registered metal would have acquired the COMEX warehouse receipts by holding long futures positions for delivery. In other words, these registered stocks are held for investment and not for commercial purposes.
In comparison, the eligible category of COMEX warehouse bullion stocks generally refers to bullion held in the warehouses that meets the specifications of an acceptable COMEX bar (proper weight, size, purity and refiner) but does not have a COMEX warehouse receipt issued against it. For example, an investor might purchase several 1,000 oz. bars of silver from a dealer and then deliver the bars for allocated storage at a COMEX warehouse. This is a private arrangement and has nothing to do with the COMEX. Unless these bars are officially registered (the easiest way to do this is through the aforementioned exchange-for-physicals), they will remain in the eligible category until withdrawn from the warehouse by the investor. Thus, the appropriate way to treat eligible COMEX warehouse bullion stocks is that they represent metal that could potentially be registered at some point in the future but cannot presently be used to make delivery under a short futures contract.
We will follow this curious development which had not occured prior to silver entering its "parabolic" phase.
P.S. For those curious, Scotia Mocatta had a comparable "glitch" affecting its gold stocks, where 13% of its registered gold mozzied off to eligible status.
h/t DrDerivative
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+LOL
;-)
Well we did learn today that GS is having a tough time "borrowing" SLV.
Such a big strain on such little men...LOL.
+1...lol
Where is the trust?
Doesn't anyone trust the maggots anymore?
Oh the huge manatee!
Good post.
So this reduces physical silver for delivery.... I'm surprised they didn't wait for a Friday dump. Does this not make the spot market tighter and the shorts (JPM) in more peril? Is Scottia Macatta now on the side of the Banana Republic? What gives? Curious indeed.
Maybe another whale, ala U of Texas style, was thinking of taking physical delivery, and this was a defensive action. If it's eligible, can it still be leveraged? Where's that sneak, Warren Buffet?
All I know is everybody seems to want silver and having some physical silver is a good place to be.
This is a montrous drop. Perhaps Jp Morgan needed it?
http://silverliberationarmy.blogspot.com/
It's hard to attribute dollar weakness to strong silver.
Silver is in a bubble.
It's NOT hard to attribute silver strength to a weak dollar, however.
Bro, silver is in a bubble.
Look at it however you want. I'm giving you my perception of it.
What was silver trading at in March 07? Where was the dollar trading @ in the same time period? Yea, that's what I thought, because the dollar was WEAKER than it is right now.
Pre QE1,QELight,QE2 2007? Are you kidding me?
Pre an insolvent eurozone; tsunami/nuclear ridden Japan?
Like I said, I'm not short silver...just have my money in other commodities.
Since when were condoms a commodity?
Good for you, Bob. I appreciate you coming on here and speaking your mind, not fearing what others might say. It is good to see a man with conviction. That doesn't mean I don't think you are completely fucking wrong. It is not silver that is in a bubble. It is the dollar that was in a massive fucking bubble against oil, silver, gold, hell tampons for the sake of it. The dollar bubble has blown sky fucking high, along with the ridiculous fucking real estate bubble that we had.
The Age of Paper lasted for 35 years. It is gone. It is history. It is relegated to Lenin's "dustbin". Good luck with anybody that still worships paper. It is as dead as Richard Milhouse Nixon. The next era has begun. You are fighting against an army of steel with a brass sword. Good luck.
hmmm.
Maybe it's time to buy some dollars....
If the real bubble is unpayable US and worldwide sovereign and corporate debt, and if silver is inversely discounting the decline in real value of that debt to 10-20-30% of face, silver may have just taken the first step in a journey of 1000 miles.
Great observation.
Edit: Seriously.
I'm curious if Hendry has now signed on to PMs.
Only 0.03% of US households can lay claim to any amount of physcial silver in their possession and you call this a bubble?
Hilarious. But please...do continue.
You're just a complete failure in thinking. What the hell does 2007 have to do with today? Have you been in a coma since mid-2007 and are just waking up?
Your head is in a bubble.
Probably so, but so is oil, cotton, unleaded gas, rice...
That's the trouble w/creating lots of cash...you can create it easy enough, but you cant control where it flows.
So, we're in a series of bubbles. The $64K question is when does/do the bubble(s) burst? Typically bubbles end following a parabolic blow off. Not always, but typically. Any guesses?
I posted this yesterday and Robo posted a derivative of it below.
http://www.kitco.com/charts/historicalsilver.html
-Go to the bottom right of the page.
-Click on 1985-2011 (multi-year silver tab)
I'm not shorting silver but definately something I felt safe selling out of considering the ride I had.
Sell now. Really. It's HUGE bubble.
Then, come back here and piss and moan when it is at $60., then $75., and then $200.
And then cry us a river why you were so wrong.
Yes, please . . . do that for us . . . for our entertainment.
Yea...good luck with that.
(anyone else see the mania?) or is it just me?
I have some tulip bulbs going for a sweet 100 Federal Reserve Notes.
I can't go lower than 95.
It only seems like it's a mania because you're on ZeroHedge. Seriously I try to talk to my friends, coworkers, and family about silver and they have absolutely no idea or interest.
And if they had it...what would they do with it?
Would they "treat" it as a currency? a store of wealth? or would they put it towards industrial use?
What are you going to do with it?
If I gave you 20 pounds of silver right now...what would you do with it (other than store it)
?
If I gave you a bagfull of gem-quality ten carat diamonds, what the Hell would you do with them, except maybe sell them? I mean, what possible practical use could you put them to? That means they're all but worthless, right?
The precious, energy, food, fresh water because of energy, phytoplankton be not in bubbles but slipping down the back of peak.
Actually, the dollar and US bonds are in a bubble. In fact, most fiat currencies are in a bubble in terms of their relative valuation because the debt simply is not repayable and the major counter party, the Fed, has only more freshly printed FRNs to offset the risk.
There is far less above ground physical bullion in available inventory than there was when the Hunt brothers were profiting in the market. Something like less than 1/8th as much and silver still hasn't matched that nominal high.
Silver is money as well being an incredibly useful technological, medial and industrial metal.
You see, a few years ago, most people didn't give silver the time of day. Compared to other currencies, silver is a nanoparticle of real money in terms of who owns it and how much.
On the hand, lots and lots of people are holding more and more dollar. Somewhere along the way people started realizing that silver is real money and the thought came "dam this stuff is real money" and they started talking to their friends about, let them hold a silver dollar, feel that is real, and before you know it, its not just 1 person per square mile that wants to have some real silver money in the bank, but two, and little later 5. So, as more and more people realize the intrinsic value of silver as money and as far more rare than it used to be, it naturally gains in value relative to the printed money backed by loans and other IOUs, which are essentially non-repayable.
Silver could go to $1,000 and still be undervalued in my opinion. If there is overhead resistance, I don't know where it would be coming from. How many shorts want to step in front of this freight train just now?
Government may try again through their proxies (we all know who they are) but they are likely to wiped out.
It really isn't silver that is in a bubble, its the dollar and treasuries that are in a bubble in my opinion.
Duffminster
That's enough Duff: it's scary even for the regulars.
well put duff.
inflation only affects the FIAT !
inflation only affects the FIAT !
Not to unnecessarily shit on your declaration but can you explain the california economy post 1849?
http://www.iisg.nl/hpw/data.php#unitedstates : Historical prices for the world in silver.
Here's a link: check prices from 1848-1849. That can be directly attributable to the gold rush. Which was not fiat.
Source: Some fucking google genius who posted it earlier today.
Low single digit Au:Ag differential a reasonable possibility.
Well said Duff
I hope this bubble doesn't burst for a long time.
I hope this bubble doesn't burst for a long time.
Three times is a charm.
Good thing you weren't saying Betelgeuse.
US Dollar is a bubble. Some morning you'll awaken to that harsh fact.
This is getting interesting. And still, only 3 investors that I know have any physical. Most still not even know how to buy it. Just because most of us here are on the same page, does not mean it is popular. Long way to go. But remember, this is a bubble, and gold is a worthless relic. And they just use silver in camera's right?
jk
Am so glad I came on board years ago. And Zero Hedge has just enforced my boldness.
Thanks Mr. D.
It's a "barbarous" relic.
I just wonder what will happen when the NWO declares PM's a national - er, global security issue, zero’s out the dollar, revalues the metals in new currency then moves to confiscate them.
Did Scotia just lock out the COMEX from their supply?
No scotia just fixed up its books a tad before the intrusive auditing folks come knocking.
Wow.
Who would have figured that SLV would be the next "Pets.com".....
Image #1:
Man, we finally agree on an investment. SLV is paper and going to crash when realization sets in. Buy Physical.
Yes because people buying up alternative currencies is just like momo chasers buying up stock on the basis that people would rather buy online than drive down the street.
LOL
Umm . . you know I was going to write something but your comment left me speechless . . so considered and insightful.
+
Making people speechless is my forte.
Shill -- whatever you are getting paid for these posts isn't worth the remains fragments of your soul.
I love your absolute bias against PMs. You always talk them down, every single day posting multiple chart boners showing how a supertrader might have beaten silver. Those companies beat silver so you should invest in them. Now that you can't find any charts that beat silver, it's a bubble, and you shouldn't invest in it.
Go fuck yourself, loser.
What's the matter, Lobot(omized)Trader, did you misplace the Lululemon prospectus that you were going to jerk off to this evening?
Robo and math man tonight, all we need is dangerstoned, or whatever his name is, to have a hat trick.
This is too coincidental to be a mistake. Could this be the Sprotts of the world putting the squeeze on knowing that JPM is flailing around the world for answers? I mean, we know they're trying to drive down the price. We know they have to meet deliveries as an important immediate step to do it. I posted earlier that, although we like to think so, our investments/holdings on ZH are not likely driving silver (although they do help.) Sprott (and his ilk) on the other hand . . .
How much silver are the Chinese buying, and through how many false fronts?
I think they are buying more than anyone knows of physical, while simultaneously meeting any large deluges of naked shorts with corrective buying pressure in paper markets.
I think Chinese are buying silver mines in other countries where they can get the metal at much lower prices. I don't they are active buying the same way people here do (our exchanges.) But they do effect worldwide supply which has direct impact on the price.
Good point.
What's the Mandarin for "I liked it so much, I bought the company!"
But they will still answer naked shorting with purchases and then delivery demands because (1) they have the money to do what they want, and (2) they have decided that the Anglosphere Hedgemony of Bullshit has lived long enough.
In pace requiescat.
mick, I've learned more (and more interesting) Latin from you than in my two years of classes in prep school...
Wo xihuan ta le, wo maile zhe jia gongsi ba!
(I'm not sure about the 'ba' part.)
It sounds tough.
Baloney! The Chinese have been buying into paper etfs and taking delivery of physical in gold and silver. They are hedging their three trillion of US paper.
Silver is pouring into China and small investors are waiting three months for delivery of small quantities.
correct mick. plus consider all silver they mine they are keeping - at a well reduced cost. it is funny how the chinese gov encourages peeps to buy physical, it shows they are more honest with their people than the usgov is!
rEvoLt BitcHeZ!
Given the Chinese governments lack of respect for property rights, it is presumptive to state they are being more honest than the US government. Confiscation is always only one executive order away.
Are you saying the the US Gov respects the property rights of the US Citizen? If so, explain why the dollar is being debased to confetti. The dollar, THE PROPERTY of US Citizens. Let's hear it?
Hardly. The US Government demonstrated its respect for the property rights of its citizens in 1933. China, however, has a funny history of confiscating property while moving masses of people from the city to the farms and back, or when building huge dams, or whenever the sun comes up for that matter. They also have a penchant copying other peoples' plans. So what is the central committee going to do if the IMF/BIS rolls out a new currency that has some sort of PM weighting component, and at some point in the future, the central committee feels that a stronger currency is the national interest? If I lived in China I would not keep the bulk of my PM holding in-country, just as I don't keep the bulk of my PM holdings in the USA.
The Chinese are the modern day Hunt Brothers and the government can't screw them.
maybe the chinese are getting the last laugh after bill clinton and robert rubin and jpm borrowed silver from them and never paid it back...
I think they can buy SLV and take stealth delivery as big players. Same with gold.
I would guess that you're right. It serves a wonderful dual purpose for them. Having actual silver protects them against the deterioration of the dollar and they get to further that deterioration by doing so, sort of a self fulfilling prophecy of investment.
While the chinese do hold tons of treasuries and dollars that they don't want to lose value they also see that the conspicuous rise in value of precious metals further erodes the dollar's reserve currency status and they want to erode that status.
That's what I call "Opium wars: China's Revenge"
We like to say we learn from history, but it isn't true. History learns from us.
Accidental duplicate post.
Exactly. The Hunt Brothers were one group. If you have many groups doing the same thing how do you stop them? The demand is coming from many fronts. Not just one.
I think there is a message being sent, yes. What is it? 1 billion to clean out the COMEX? Sprott has said numerous times that he has had trouble getting silver bullion for his PSLV physical silver trust.
I have said a few times here that it is like a DDOS attack on a server. Except that it is coming from everywhere. It can't be stopped without a server reboot.
Semi log, parabolic blow off. Silver at infinite and I will buy in hope of selling at infinity and beyond.....
u guys watching the dollar here. Falling out of bed, again.
http://www.marketwatch.com/investing/index/DXY
Not good
Holy Shitz Batman, not good. I need a drink , a stiff tall drink. Ben must be having Taco's and wondering how he is going to present this at the FOMC meeting.
Whoa. It just ticked down to 73.99. It felt like watching the EKG of a morphine-numbed country slowly dying of cancer.
I prefer "shit the bed".
"depends on the dollar" has a new meaning!
lol
bring it you worthless banker man-whores!
"depends on the dollar" has a new meaning!
Very good!
+ $45.00
.
the dollar called, can't find a parachute!
Another Aspect : Destroyed Records
If you've done some research you know that on 9/11 a huge number of records were destroyed in the WTC Buildings, especially Bldg 7, which is were the quote "Just Pull It" came from, by none other than Larry Silverstein, who should be hung in the "pit" where the building was for his complicity in the murder of 3,000 Americans, along with the co-conspirators.
In addition to all the ENRON and several other scandal's records DESTRUCTION, there has been a lot of speculating on AMEX Gold and Silver, that disappeared.
In the Pentagon meanwhile, Rumsfeld reported on $ 2.3 Trillion missing on Sept 10th, 2001 , all sort of records along with the murder of many auditors occurred; When ? Sept 11th, 2001
These are the people you are dealing with, so any records of your or anyone or any institution, can easily disappear.
Remember the expression, "Possession is 90% of the law" ?....WELL IT APPLIES HERE X 100000
I agree that if you trust the animals who run the COMEX or the great banks to honor their committments and pay out proper winnings -- then the best you can expect is to get an expensive education in seeing which way the wind is blowing.
The death star is nearly complete. We are quickly coming up on spot prices that will trigger the run on the comex.
We will soon see who has the loss; the morgue or the tax payer.
Grab a bottle, hunker down and pray for daylight!
Closer months on COMEX are falling 'back' into backwardation, it could well be permanent this time.
COMEX gold is still well in contango but will follow silver.
Scotia Mocatta has been singled out for years by Ted Butler as a manipulator in COMEX silver.
I bet is has something to do with this.
ScotiaMocatta acquires approximately US$900 million in precious metals
loans from Bank of America
TORONTO, October 11, 2006 – Scotiabank’s precious metals division,
ScotiaMocatta, today announced that it has completed the acquisition of
approximately US$900 million in precious metals loans from Bank of America,
further strengthening ScotiaMocatta’s position as a global bullion leader. The
transaction closed on October 10, 2006.
“This agreement fits well with Scotiabank’s strategy to seek growth opportunities
in selected areas where we have recognized global strength, expertise and
product capabilities,” said Rick Waugh, President and CEO, Scotiabank. “It will
further enhance our position as a market leader in dealing with industrial
manufacturers that have precious metal requirements. It also enables us to
expand our bullion relationships in the North American market, complementing
our existing leadership position in Europe, Hong Kong, India and the Middle
East.”
“We are very pleased to welcome these clients to ScotiaMocatta, a name that
has been synonymous with bullion for over three centuries,” said Barry
Wainstein, Vice-Chairman of Scotia Capital and Global Head of Foreign
Exchange and ScotiaMocatta. “As one of the world’s top bullion dealers, our
clients can access a full range of precious metals trading, financing and physical products and services.”
Found here in 2006: http://www.scotiacapital.com/AboutScotiaCapital/WhatsNew/Mocatta_ann_oct...
Looks like Scotia may have got stiffed on what they thought was physical loans.
Bank of america fucked them in 2006.
good research eco. like i say....
follow the money.
Robot, I am so sorry. But, you are a complete idiot for that comparison. Too much LA smog.
But ya know guys, as long as there are Robots, and many just shaking there heads and advising how stupid we are for investing the way we do. Well, that's ok with me.
:)
Yeah, where's Robots Mom when we need her/him to staighten out the dumbf**k?
Nacho silver!
this guy was driving along in a pickup when a giant ball of cheese came rolling down the hill and stopped in front of his truck. he jumped out, grabbed it and tossed it in the back, then drove home.
on arriving home he proudly announced to his wife that he had found a huge wheel of nacho cheese. upon inspecting it she inquired how he knew it was nacho cheese.
he smiled smugly and announced, "as i was driving away a crazy guy was chasing me shouting 'that's nacho cheese'".
True story:
My godmother was born, raised and living in Greece when the Germans invaded that country in 1941, taking her and her family to Germany as essentially slave labor, where her father worked in a cheese factory in Munich. One day in the spring of 1945, she was going to school when she saw her father, who had left home an hour or two earlier that morning, coming down the street rolling a giant 30 kg wheel alongside him with a big grin on his face ---- at that moment, she realized that World War II had ended.
It ain't slowing it down...45.39...so Houston, they have a problem...bummer, for them ;-)
be careful. these boys are slicker than snail shit......i think there will be a nasty dollar correction somewhere soon and then the appropriate PM correction, but it will be just a outlier for things to come.......so no worries.....
Yes they are some slimy bastards.
Continuing with my "moon shot" theme of the evening...45.76...in fiat ;-)
If one believes that the levee has been breached and it cannot be controlled, as I do, by money grubbing, power seeking statists, the price in fiat means absolutely nothing...I don't trade...I accumulate...they can't win in this, they know it.
My exchange for what I desire will come later, at my time & valuation...they're screwed...LOL.
Me as well. And...well said, that really is it in a nutshell.
Excellent!
Another who believes in truth & value.
USd index 74.11. Let the slide begin. Reset this 4 day weekend.
It's definately a nasty ass slide. I've been watching it tonight.
Yep. Not sure what to make of it yet.
I got a little worried past 74.260. It's seeming to find some ranges -- however at 74.17 @ 21:12 EST it's got me concerned.. or is that excited?
<slap>
Concerned.
...when do we get to say, "i told you so!" to those that we told this to?
pretty damn soon from what i see......
The most meaningful way to say that is........
Not saying it at all !!!
deleted
The most meaningful way to say that is........
Not saying it at all !!!
The most meaningful way to say that is........
Not saying it at all !!!
sorry about the multiple posts something is wrong with my browser ???????????????????
Dollar meltdown in progress...so I guess Lulu will rock tomorrow? Nothing more important than the self- importance of a self-involved American yoga queen and her favorite $200 stretch cotton.
Good grief [and by that I mean I wish old Ben Bernanke desired more family time]
So JP Morgan has no silver for expiring futures contracts?
and they haven't for some time now.
yes, the little green curtain has fallen.
problem now for the banking cartel or cabal is that as they tried to put the curtain back up, it caught fire.
time to eliminate the curtain altogether !
Not what they claim no. Strongly suspected to be OUT
Where will the price of silver converge with the USDX? My Jan guestimate was 64.5. Looking good so far.
.
OOOoooh! That's cruel, but a good pool to start.
Another one is when it will converge. I think June when gas is $6.50/gal.
I think you are close, i think 68
as they said in 1986, "We're going to full throttle up"
For all ZHers who are waiting to BTFD in Ag, I recommend that you rotate the Kitco chart about 30 degrees clockwise - and then buy whenever it looks like it's dipping.
Fed delenda est.
funny but almost maybe a good idea.
Semper ubi sub ubi.
When they stop putting silver in underwear, I'll stop buying it.
Disposable underwear no less
Si Non Oscillas, Noli Tintinnare.
I wonder if that has a trading connotation?
How about "It don't mean a thing if it ain't got that (silver) ring!"
And ... Fed delenda est.
take delivery bitches.........its on........ha ha ha ha ha
by the way tyler, would such information perhaps, cause silver to go,...... as little jimmie bowtie man rogers might say............parabolic.......? oh my..........
Not sure where Tyler gets this amazing info, but thanks for passing it on!
Silver. Bitchez.
rEvoLt BitcHeZ!
and what jpdg said...
Info is published daily by COMEX.
Select Silver Stocks and download to open the Spreadsheet:
http://www.cmegroup.com/trading/energy/nymex-daily-reports.html#warehouse
Harvey Organ also provides excellent, A+, commentary each day on Gold and Silver:
http://harveyorgan.blogspot.com/
Updates about 6pm EST each night and then Saturday morning.
...the truth is not a choice, the judgment of the fool(s) is upon them every time the they provide labor in this market, ....thinking to escape the emptiness of their account as a result of the wrath of the Bare's silver ''De'V(f)ault line'' of Bull's shit''. http://www.youtube.com/watch?v=34ag4nkSh7Q
Scotia has been sourcing they're retail silver offerings from the Valcambi refinery in Switzerland for a few years. They have had almost no stock for months now. Stock from europe may be in very short supply so Scotia may be forwarding physical to the Royal Canadian Mint in order to get a supply for retail 100 oz, 10oz, 5oz and 1oz bars.
I have also noticed that the only constant product available was silver maple leafs and grizzlies but that supply is now gone as well.
The RCM is backlogged 6-8 weeks. Dealers are not even receiving their complete orders. I went to a coin dealer today who ordered 100 of the new 10oz bars and they only sent him 30 with the rest on back-order!
I am watching /si
ew
Central banks around the world are ready to intervene.
if you buy online, is it better to do a bank wire or credit card? or no difference?
best to buy at a local coin shop for paper with no banking cartel trail.
check swap meets. you need to create personal relationships with coin peeps. they are nice folk. don't be shy. remember, the local level matters the most. we all share many common problems, but local levels have specific issues as well.
as people we need to comprehend our true power for change.
insanity is defined as doing the same thing over and over expecting a different result.
perfect example: ANY election.
jus sayin...
Yes, and if 90% pre 64's will suit your needs, there are no taxes involved. As my local guy says, "We're just trading money for MONIE".
^^^^ local is good, face to face always good. They are your friends and neighbors.
Yup ... Leave no trail.
I walk in with a wad of cash and leave with a small bar or a handful of rounds or wafers.
.
Depends upon the seller, not the venue. As Tony points out above, buying local is good, but not in States that have a sales tax on bullion or PM coins. You are just adding an unnecessary premium. Whatever deal you make with an out of State dealer is fine, but you'll pay more for credit card purchases since the seller has to pay the merchant account vig. He'll pass it thru to you. I usually just send USPS money orders. Very clean and accepted by any dealer.
I don't know where else to drop this bomb, but the bank of canada is reporting 3.3 CPI for march up from 2.3 and 1.7 core CPi up from .07.
this appears significant.
I am starting to get really scared.
In the past ten years i have several times bought more silver in fear at times like this. I was always wrong Every time i bought in fear i bought physical right at intermediate tops.
The only thing that saved me was a big bull market And the fact i had completed the bulk my purchases between 99 and 04. My additional DISCIPLINED purchases as part of a 20 percent investment allocation averaged out at close to trend.
Yeah that makes me a precious metal nut to be overweighted like that. I am getting worried and wanting to buy back in. A sure sign of an intermediate top. Fear of losses and fear of missing out on gains is a big killer of portfolios.
Eat shit and die,troll.
It is tempting but i will pass on your kind suggestion!
Perhaps this time there is a clear and present danger that might be a perfectly justifiable source for your fear?
Only the paranoid survive. And yes, they're out to get you.
BUY SILVER. Don't worry, just buy.