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Gold And Silver Bullion Coin And Bar Shortages Continue
Today’s AM fix was USD 1,476.50, EUR 1,124.95 and GBP 949.34 per ounce.
Yesterday’s AM fix was USD 1,456.00, EUR 1,106.22 and GBP 935.07 per ounce.
Cross Currency Table – (Bloomberg)
Gold rose $8.10 or 0.56% yesterday to $1,466.80/oz and silver finished + 0.68%.
Physical demand for coins and bars internationally continues and is
the strongest since the immediate aftermath of the Lehman Brothers
collapse on September 15, 2008, and the consequent global financial
crisis.
Government mints, refiners and bullion dealers internationally are
reporting demand as high as in the aftermath of the Lehman crisis.
Brokerages are seeing nearly all buyers and little or no sellers
which is making for a tight market with rising premiums. At GoldCore,
sellers have been people liquidating unallocated positions and opting
for taking physical possession or the increased safety of allocated
accounts.
Higher prices will be needed by bullion owners in order to
incentivise them to sell – prices that will likely be significantly
higher.
Most physical owners are buying for the long term and will not sell
in the coming months even when prices recover. If prices rise to back
above $1,600/oz, some physical gold might come back into the market and
alleviate the supply issues.
Gold in USD, 1 Year – (Bloomberg)
However, we believe that this may be a long term structural supply
demand issue in what is a very small physical bullion market, that will
only be alleviated by much higher prices and indeed higher premiums.
It is difficult to generalise regarding premiums as there are so many
products and so many regions but in general terms, prices on nearly all
small coins and bars are rising and on average there have been 1% to 2%
rises in the premiums on popular one ounce gold coins and bars. This
means that one ounce coins and bars can cost some $14 to $28 more than
they did prior to the price falls.
The percentage increase in premiums in the silver market is even
higher and there are more delays and unavailability of silver coins and
bars with popular formats such as Eagles and Maples now almost difficult
to secure. We acquired a large number of Silver Eagle Monster Boxes
yesterday which we expect to have sold by the close today.
Today, return of capital is of far more importance than return on capital.
Gold in Euros, 1 Year – (Bloomberg)
Gold and silver bullion coins and bars are important in this regard
as they are not about making a capital gain per se rather they are about
wealth preservation.
Given we are in an era of competitive currency devaluations, there is
also the real possibility of making significant capital gains.
Of fundamental importance is the fact that gold and silver coins are
not 'investments' rather they are a safe form of money and an important
form of financial insurance that everybody should own.
With the risk of a global depression remaining very real, people need
to own the financial insurance that bullion coins represent. Bullion
coins are like health insurance in that you should own them but hope you
never have to use them.
The biggest benefit of owning gold coins either in your personal
possession or allocated in secure vaults internationally is that they
will always retain a value unlike paper assets and currencies which have
considerable counter party risk today - as was seen in the deposit
confiscation in Cyprus.
NEWS
Gold ticks up, heads for second straight weekly gain – Reuters
60 killed as gold mine collapses – Irish Independent
Asian Stocks Rise With Metals; Dollar Weakens Before Jobs Data - Bloomberg
Arizona governor vetoes bill making gold, silver legal tender – Reuters
COMMENTARY
Italy should use its gold reserves to force a change in EMU policy – The Telegraph
Gresham's Law Proves Gold And Silver Are Remarkably Undervalued – Seeking Alpha
Comprehensive Guide To Investing In Gold - GoldCore
For breaking news and commentary on financial markets and gold, follow us on Twitter.
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2 pre '64 dimes will buy a gallon of gas the same in 1942.
Gas be cheap but thats a wartime price.
Look, it doesn't take the brains of a rocket scientist to work out that retailers that bought silver last month and took delivery this month bought it at $28/ounce. They aren't going to sell it to you at $23 just because the spot price plunged last week. This increased demand is testament to the stupidity of the public who clearly have no knowledge whatsoever of precious metals markets and still think they can buy pm's on the cheap. Fucking idiocy.
The 'premium due to high demand' exists because bankruptcy is the result of selling product below cost. Simple really eh...
Now can we get back to reality and a little common sense?
A few comments....first, there seems to be a real issue with shopping around for prices here. Here are a couple of resources that should make it easier:
http://comparegoldprices.com/
https://comparesilverprices.com/
Those just scratch the surface. Look around and you can find better pricing on some products. I hear a lot of talk here about Tulving and Gainesville. Their pricing is OK but isn't all that great.
Silver prices suck right now: very high premiums. You're essentially paying the same for the popular coins as you were before the price drop. Why you would want to waste the FRNs to do so is beyond me. Financial apocalypse most likely isn't coming in the next week or month. Looks a lot like the pet rock phenomenon to me.
Finally, while there is some merit to holding durable commodities especially during inflation, most of what we're seeing in the economic stats points to deflation. Commodity prices typically drop during deflation. But this time is different, right?
good links. I have only bought from Tulving and Gainesville. Tulving is very fast delivery, Gainesville takes a few weeks - but small amounts can be ordered.
Obvious dealers are demanding $29.50 - 30.00 range for coins or 90%, if spot drops they raise premium.
Well, fwiw, Tulving took almost two weeks to deliver to my friend in April. Used to be 24-48 hours to ship out. He called after 8 days and they hadnt even shipped it yet.
I know somebody who ordered from Tulving back in February, and it took SEVEN WEEKS for them to receive their order! It was their very first order with Tulving, and I can tell you that they were VERY nervous and anxious over it.
ApMex ASE @ 25% premium?
Gaaakkkk.
I just checked Goldcore's web site. They have 8 Monster Boxes of ASE's that they will let go for the suprisingly affordable price of $6.50 over spot.
You forgot the sarcasm tag, I hope. That's only $1.25 more than you can get it for elsewhere right now and probably $3.00 more than you could get it for if you cooled your jets and waited 2 months.
I've posted this before but it bears repeating:
Company I deal with re Ag Eagles got in 25,000. They sold out (in lots of 500) in 8 minutes.
EDIT: In their words "We sell metal, not promises". No 6-8 week backorder.
AP<EX bank wire 2013 eagles
1 - 9
$1,557.992013 american silver eagle, apmex has
Qty Check or Wire Credit Card 1 - 19 $31.17 $32.11 20 - 99 $30.67 $31.59 100 - 499 $30.17 $31.08500 or more
$27.58 buy back!
the buy back price is 15% higher than the silver spot price!
this disconnect between physical and paper is the greatest i've ever seen!
$29.67
$30.56
all the information we need to make the correct moves is plainly in sight:
- German, effectively, has been told there is no gold.
- The EU is taking secured customer deposits to bail-in insolvent banks. By the way - the UK & US have law, regulation & process in place to do the same thing, if needs be.
- Some EU nations gold reserves at jeopardy for bail out funds.
- ZIRP in place everywhere
- Nominal GDP targetting
- Massive naked shorting to on COMEX to defend $ as reserve currency & allow physical gold harvest to bullion banks & TBTF entities.
- MSM gold denunciation meme propogated.
- True inflation rate obscured.
Polishing my stack today was satisfying , priceless :)
Ok everyone, put on your ruby slippers, click your heals and repeat after me, " there is no place like home....there is no place like home"...
Sorry to get serious on ya all on a Friday night, but who TF wrote this article? As of 2 minutes ago, APMEX has in stock:
7,059 1-ounce Gold Eagles
5,460 1-ounce Gold Maples
91 Monster Boxes of Silver Eagles
Um.....there is no shortage...that is...of articles claiming there is a shortage. What would be more helpful than blowing gold and silver shortage hopium up people's arses is some real articles on how this is going to play out for those who have stacked the little bit they have in hopes of preserving it.
The "other side" of this trade has an infinite amount of "ammunition" and an almost limitless amount of influence in the media and can create any law they want. Articles like this one fall very short of actually helping anyone begin to comprehend the myriad of obstacles that lay ahead on the yellow brick road.
I am not saying not to follow Dorothey, just that weak articles like this actually work against the momentum the author supposedly intends to support. Then again, maybe I am wrong, the lion was cowardly, the scarecrow had no brain, the curtain was pulled back and Dorothy wokeup ok in Kansas b/c they followed the yellow brick road...... follow... follow... follow... follow.........
Comon' Z-hedge, stop with the metal propaganda and stick with articles that just might actually help us navigate this cluster fu*k of a mess we are all in.
my supplier had 46 silver products 2 months ago, now they have 6.........
yep, no shortages !
Well, lots of these outfits in the US are saying they have this "in stock" yet people are waiting weeks for delivery. So what is it, delays, shortages, or both? Internationally its much worse. Buying is outstripping any selling by a wide, wide margin. I would assume most people understand that kind of "simple math" here @ the Hedge.
And I would agree with you that GoldCore articles are poorly written and missing the mark at times.
This is bugging me for days. While there are real shortages in Asia and Mid East, there is no shortage of physical gold here in the US.
Sucker!
99.3% of the gold in the US coughed up(COMEX) for delivery in the last 3mos came from JP Morgan's stockpile. BTW, Goldman, who told us the price of gold was going to tank, hasn't parted with one ounce of theirs. Better get the real thing..if you still can. This applies to silver. Don't say you weren't warned.
7059 isn't exactly a confidence inspiring number, even if it's true. It basically means one single millionaire could wipe out their ENTIRE inventory of coins in one second.
Some millionares have more than one million ...Like me...I mean them I mean someone with 11 million could do it and still just be a millionare....oh yea it's been tried. Hmmm who owns Microsoft and who is that great investor that left the USA ?
Gekko
Your math is wrong, it would take 10 "millionaires" to go "all-in" to wipe out 7059 gold eagles at Apmex, not 1 "millionaire" as stated in your post.
7,059 x $1,513 = $10,680,267.
Yet you received 4 "thumbs up" on your post....so that is 5 more ZHs who can not do simple math. Your post supports my point exactly, there is no intellegience in this article, only hope and inference and a desire to influence.
Furthermore, to go with your premise that 7,059 is not confidence inspiring. It is a heck of a lot more than a "shortage" and although I want to agree with the intent of your post - which is that it would not take much to wipe out inventories at APMEX - consider this: rather than taking 10 millionaires to go all in, it would simply take 7,059 people to buy 1 gold eagle - and that is not happening - that is the scary part.
It would only take .00235% of the US adult population to wipe out APMEX, and I will estimate .02% of the US adult population to wipe out all dealers and yet it is NOT happening.....yet your comment received 4 green up arrows on ZH.....too much hoppium and not enough intelligence.
I say stack if you can, and hopefully, one day, with enough articles like this one, .05% of the adult US pop will wake up and clean out the dealers....but then we just assume supply and demand and a free market will exist and the price will rise to its fair market value...sounds like hopium.
If gold and silver are of real value, then those who have access to limitless influence and power will structure a way for it all to come to them. This is the eventuallity that we should all be aware of and prepapred for because we will have to pull a Neo ninja move on that track of inevitability.
On the bright side of saturday morning, anyone have a good link to suceessfully leveraging put options on gold and silver as the price falls? Accumulate on the way down with profits made on puts?
Not if that millionaire had $11 million to spend...ever thought about that?
10 mil to wipe out the gold eagles, but only 1 mil to wipe out the 91 boxes of silver eagles...
I stopped by my coin dealer today. No junk silver, and if he had it, it'd be with a 20% premium. A few Eagles at $5/ spot, a few rounds $2.50/spot. Says he expects more inventory in a week or two. Buyers outnumber sellers way over 10:1 he says.
Sounds like Boris b digging up local telephone lines or something.
shit I cant belive I didn't get that till yousaid it.
I must be reeeeeaaly slow
First come is first to be serve... Many Russian is use mobile phone so telephone line is to recovered, no?
Boris is do little research, gauge is too thick for telephonic transmission purpose, maybe is power...?
Boris - be doing it the Chinese method - throw ore in 55 gallon drum, add gasoline, throw in match. Beautiful fireworks, plastic burns off of ore. Win, win situation. Now, go find squirrel, bar b q on fire. Tastes like chicken, nyet ?
"throw ore in 55 gallon drum, add gasoline, throw in match."
WTF? You want Boris to become Blow-ris, as in blown-up-ris?
No gasoline. Just wood and lighter fluid will do...
Bar-b-q a rat, it tastes like lamb. And not the rat bankers, but the really furry rat that hangs out in sewers and garbage dumps.
Remember, SHAVE RAT FIRST!
Talk about false flag! Speak gold up then tell us it's no investment and could be kept in an unsafe house. With friends like you. . .
Sell,Take profit.
This is just another shill you make rich while you lose.
The biggest benefit of owning gold coins either in your personal
possession or allocated in" secure vaults"(LMAO) internationally
shagarific baby yeah! Great idea! Keep it somewhere you have NO fucking clue whether or not it even exists. yeah I know, receipts are still good fer cash y'all! Fished in!
Waiting for the other shoe to drop in gold. (Buying puts) hopfully I can cash out and buy some more if it goes lower. MOAR!!!!
If another shoe drrops any time soon it will be the strongest evidence to date that the futures markets are about gambling and influence, not about price discovery. To retain a shred of 'their' virtually non-existent credibility they'll have to wait for stocks to drop first, to give them an excuse to hammer the metals. With the recent physical demand, stocks up/gold down would be a bridge too far.
I agree with you 100%. The bankers are just flaunting thier manipulation in our faces now. I am long term mega bullish but I would like to load up on more if I can.
"If" is the operative word there- before I say this, I want to be clear that Gainseville and Aydin Jewelers are still my most trusted sources for ASEs- but that being said, I bought one silver philharmonic at the bottom- and it took over over eighteen days to get from Gainesville to my front door, and that was with me needling the fuck out of them to try and force an admission that they didn't have even a single coin to send.
That one little Phil arrived today- 15 days later than usual. They did honor the transaction in the end, but the increase in delivery times sure said a lot to me.
I don't know if it's great or if it sucks, but ordering PMs online may be becoming too risky. I helped start a local market here, but these things tend to take on a life of their own, and I can't even buy back the metal I put into it for less than $45/oz.
As a side note- that Philharmonic was rushed. They tend to be beautiful coins, but this one had a burr on the edge and the remnants of a sprue. It's although they were in some kind of hurry to fill orders....
Prometheus; more likely you got a dinged one dealt to you. That's another problem buying sight unseen.
Try the LCS for Au, my friend, especially little 1/10 oz ones. Silver is VERY HARD to get here too.
Does the central bank of Peru have physical silver reserves, Peru being one of the world's major silver producers?
that's right.
Waiting for Bron "Nadler" Suchecki from the ('paper gold' certificate-peddling) Perth Mint to come in and tell us how we are all mistaken, shortages and rising premiums are nothing but a goldbug "conspiracy theory", all is well, there is nothing to see here, move along, move along .....
"While the mainstream media focuses on the paper gold price, savvy investors around the world are now buying all of the physical gold that is available. In country after country we hear about how sales of gold are absolutely booming and everyone is running out of stock. Gold dealers and jewelers can’t keep up with demand, to the point that some of them have empty shelves."
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/5/3_Swi...
Boris is late to party for gold, but what about COPPER!? Boris is dig a bit and is find copper vein in local geographic area. So far is extract 250 kg! Now to find inexpensive process for how to remove plastic from Copper Ore.
Boris, be sure there is no voltage in the copper ore vein. This is a very common occurence in such deposits and many a 'prospector' has ended up permanently unable to enjoy the pot of meth at the end of the rainbow because he failed to check on this.
From your mining suppy store
http://www.emedco.com/voltage-tester-idl21.html?keycode=WB0074&kw={keyword}&gclid=CLrI4ILP_LYCFQef4AodH1QAAQ
Why is electric? Hmmm, maybe Boris have house pet canine dig first once find copper vein. Or mother-in-law, who is now live in Boris apartment with family. Mother-in-law is lazy and is not work, maybe this is make feel of self-worth...?
And to be avoiding the officials for the law enforcing. They are to be jealous of finding copper vein.
Boris is already share ore with police man, but now is "protected".