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Silver coin demand is absolutely through the roof” – Perth Mint
If the continuing depression in precious metal prices has a silver lining, it is the enormous surge in demand world-wide for silver. With most mints & brokers experiencing higher than expected demand for silver coins, many are having to set weekly sales quotas after record coin sales.
According to Nicholson, Ananthalakshmi and Harvey, reporting for Reuters yesterday, this rapid surge in demand for silver is due to unprecedented interest in coins from ‘mom & pop’ buyers in the US. “Dealers and mints trace the supply squeeze to a burst of buying by mom-and-pop investors in the United States, who scrambled to scoop up coins they considered to be at bargain levels after spot silver prices in early July sank to six-year lows.”
In addition, there is a perceived shortage in the market of silver coin supply which, according to a Perth Mint spokesperson, “is in fact a (crunch in) manufacturing capacity.”
With North American mints overwhelmed by orders, investors and collectors were forced to look overseas for increasingly scarce supplies, triggering a domino effect in Europe and Asia.
Read more on the Goldcore.com blog
See also our recent blog on “Premiums Rise and Delivery Delays Increase on Silver Bullion Coins” for further analysis.
DAILY PRICES
Today’s Gold Prices: USD 1106.30, EUR 990.86 and GBP 730.21 per ounce.
Yesterday’s Gold Prices: USD 1145.50, EUR 1027.63 and GBP 752.18 per ounce.
(LBMA AM)
Gold closed at $1114.30 down again by $1.70 on the day. Silver slipped to as low as $14.476 but ultimately gained $0.02 overall, closing at $14.56.
As reported previously, the Perth Mint sold a record amount of silver coins in September – more than 3.53 million ounces – according to Reuters. This is about five times higher than the mint’s August sales.
IMPORTANT NEWS
Gold struggles near two-week low after strong U.S. data – Reuters
Platinum’s Premium to Palladium at 13-Year Low on Diesel Concern – Bloomberg
Palladium hits near 3-month high on strong auto sales; gold flat – Reuters
Gold futures settle with a loss after a volatile day – MarketWatch
Commodities Bust: Metals Are Getting Massacred – Bloomberg
IMPORTANT ANALYSIS
“Silver coin demand is absolutely through the roof “- Perth Mint – Reuters
Does 1 October mark the beginning of the end for the debt bubble? – MoneyWeek
Fears of a Chinese ‘hard landing’ trigger mass exodus from emerging markets – The Telegraph
Panic Is Spreading, Part 1: Surge in Junk Bond Defaults Imminent – DollarCollapse.com
Charging into Yukon’s new gold rush – The Vancouver Sun
Read more News & Commentary on Goldcore.com
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I save my silver quarters for the Washing machines at the lundramat. Its the only place that actually eats your silver.
I save my silver quarters for the Washing machines at the lundramat. Its the only place that actually eats your silver.
You are a fucking liar. None available asshole.
To those who think that because you can order a bar of silver/gold today online everything will be OK tommorrow. How come we couldnt return Germany's Gold? Because we just have so much of the worthless junk laying around?
Those Gold Bars are in China.
The bullion banks just have a list of 24 owners of each gold bar. A lot of people are going to get Germanied.
24 claims/bar? That is a relativly honest bank. As of last week the Comex was up to 258 claims/bar and climbing.
Those still wanting in are better off buying junior mining stock or Sprott equities (they do good diligence when picking junior miners).
Avoid the big "mature" miners. They have become part of the rigging.
Yeah, yeah, yeah. If everyone wants it so bad, why is my stash worth less yellenbux than what it was five years ago?
It is worth less in Yellenbux not because the metal has gone down in "value". It is because the Yellenbux valuation is rigged. Wait for QE4 and then we will see the real rush into metal. It will be too late for many. The bid will be $20, and there will be crickets. $30, crickets, $50 maybe a few offers, until we get true price discovery. Remember price discovery?
Fck Perth Mint and their disingenous shill Bron Sucheki (or howeve the hell u spell it) after their hit job on Bill Holter....trying to slander old Bill cause he called out the Comex and other bullshit physical / paper ponzi exchanges.
Pfft pfft.
When silver is $3.oo in REAL and 2015 dollars (conservatively) I will buy again. My monster 42lbs (food weight) getting tarneshed. TP is a better buy and hold across reset. Read and weep. http://fofoa.blogspot.com/2015_06_01_archive.html.
Even then i wont be buying silver with my Au, more like ramen or apt buildings depending on how bad it gets.
Wake up and READ!
FOFOA is a statist shill. Fuck off and die.
mmmm, the url might as well be "SomeBufoonsBlog.com"
I didn't get past "I'm talking about .50 cent silver." before I started uncontrollably pissing my pants with laughter. I think I'll read something else.
Yeah, that will be right, 1 oz of silver costing less than a packet of chewing gum!
If someone fails to deliver a large quantity it will be the straw that breaks the camels back and the financial system will go under.
Silver has long been used as money and still accounts as an asset on a balance sheet. If it becomes hard to get a hold of its value will once again be that of money.
I remember it said they use a lot of silver in cruise missles.
My LCS would concur. Supply lines breaking down?
I Blame ISIS for any Silver Shortage
I'm going for platinum. Now that's in some serious short supply.
Be careful. The world economy is heading down the tube fast, and the demand for platinum and palladium is mostly for automobile catalytic converters. Yes, platinum is extremely cheap now, but quite possibly will fall much further, unlike silver and gold.
The demand for silver is moderately industrial too. However, the demand for silver as "cheap money" lately has been off the charts. Therefore, many of us believe silver may well rise more than gold in the next few years, even though gold is more a "pure play" on monetary disaster (which is certain, and coming soon).
I refer you to this:
http://www.platinum.matthey.com/documents/market-data-tables/platinum/pd...
Jewelry and investment demand exceed auto catalyst demand. Now go look for it for sale online and tell me what you find. I called up my lcs yesterday which has 4 branch stores and they had zero, as in nothing at all for sale. Then go look at S. Africa where 80% of world production comes from. They are in extreme stress due to the high cost of production. Then another 10% of production comes from Russia.
Then I refer you to these
http://www.thenational.ae/business/markets/volkswagen-diesel-engine-scan...
http://www.platinuminvestment.com/supply-and-demand/platinum-quarterly
In the article it says that the VW scandal may actually increase demand for platinum. VW is the largest auto consumer of platinum due to the high use in diesel engines.
Don't worry i'm not going all in on platinum but since I should be careful with platinum I should be downright bearish on physical silver.
Yes, the stories about platinum producers definitely make the calculation more... interesting (to put it mildly).
Personally I love platinum given its current 20x price/rarity advantage over gold. However, I do suggest care, because the platinum story is much more complex than gold (or even silver, which is already a bit complex). I hadn't thought about the possible VW issue yet... good catch.
-----
One (of many) thoughts about evaluating silver. When depression strikes, mining for many metals slows enormously. When you realize that most silver mined is a result of mining for other cheaper industrial metals (iron, copper, zinc, tin, etc), you have to realize that much silver production is likely to go offline as the world economy goes into depression.
The takeaway is this. While the demand for silver for industrial purposes will fall, will the production of silver fall even faster due to this "inconvenient fact" about the nature of most silver production? I'm not 100% sure, and it very likely may be a function of time (sometimes yes, sometimes no), but the question is relevant.
I'm done stacking silver, moved on to green tips ~ 5.56 anyone?
enough to matter? apparently not - if there was a supply shortage then shit would be happening - and it aint - so this is just all bullshit until the fireworks start
http://www.comparegoldandsilverprices.com/compare-silver-coin-prices/
Yeah, they're available. I notice a buck higher than 2 months ago last time I bought. I just don't know how long the wait is.
They dont say its in stock. When you go to check out they tell you how long you will wait, They will tie up your money for weeks and you will lose sleep waiting for your delivery. Good luck with that. My local coin store is OUT of stock and back ordered 6 weeks. Premiums are $5.50 each for Eagles. Everyone is talking about supply of silver being low and late. TPTB will continue to push the price down until a big player wants a big delivery and the COMEX fails to deliver and the fraud is exposed. There are too many people who simply will not or cannot see the truth. We are living in a zombie era. Its really weird.
"There are too many people who simply will not or cannot see the truth. We are living in a zombie era. Its really weird."
Now thats the truth.
It is a symptom of cognitive dissonance thanks to our mass programming:
the state of having inconsistent thoughts, beliefs, or attitudes, especially as relating to behavioral decisions and attitude change.
Goldcore... you are fucking shills... PROVIDEMTMETALS has plenty in stock.
Of course, I peruse their site daily and they havent had them in about a month. On top of their 6-7 cheapest rounds being sold out too. But then as a fucking hack, you prolly knew that.
That wasn't a troll, it was an advertisement.
It's spam.
Good thing they have Bron Suchecki at the Perth Mint drumming up some business.
Want silver? I just checked JM Bullion. Plenty of Silver Eagles. Want junk coins? Plenty on Amazon and eBay. Don't want to pay the premium on eBay and Amazon (you know they charge the seller a 15% cut)? You really can't complain can you? You've been waiting for the prices of silver to rise for years and now you are seeing it in the premiums.
I just checked two other silver websites. No waiting. In stock.
Wake me when silver actually gets over $24.00.
Mark of Zorro - why do you lie ????
Plenty of Silver Eagles.
And a week ago? two weeks ago? three weeks ago when they were "delayed". IOW, they just got a backlogged shipment of what's going to be the last of the 2015s. Hey, I hear if you cover your eyes, you cant see anything at all..
Don't want to pay the premium on eBay and Amazon (you know they charge the seller a 15% cut)?
What's that you say, even the volume dealers on ebay, where you claim everything is plentiful, are charging large premiums!? Ummm, ok. Way to have self awareness.
I just checked two other silver websites. No waiting. In stock.
Again, wasn't the case a week or two ago... Last time provident got in a shipment of Incuse Indian's, they were sold out before the day was out. That was when all 6-7 issues of their cheapest rounds were all....sold out.
Yeah, okay. I just checked APMEX and they want to buy your ASE's for $18 and they have them to sell from $20 to $25. So what's your point on $24 silver?
http://www.apmex.com/category/22111/silver-eagles
Point taken. Let's double my last comment to: $48.00
now you're talking. do i hear $96?
APMEX is for dummies and/or pikers
less name-calling, more facts to back up what you say.
apmex premiums have gone up in recent years but you can still find deals if you look.
on wednesday i received 1oz valcambi bars which i bought from apmex on ebay, at *spot* price, zero premium, see ebay 121580551976. think about that, no premium - where else have you ever seen that? they had this special last week, 12,000 oz sold, that's almost 1000 lbs of gold sold in this one ebay item alone.
and silver, you can regularly buy 1000 oz bars at only .49 above spot on apmex's site.
if you know of a place with lower premiums, by all means, post it, but i doubt you do.
"APMEX is for dummies and/or pikers"
I disagree... When you go through ebay and check out their "daily deals", every once in a while you will see someone offering gold or silver coins at or near spot price and that includes free shipping. When you click on the offer, you will often see that it is APMEX that is offering the deal. They also let you pay through paypal with your credit card, so if you have a good rewards card, you can rack up lots of points too. Been there, done that...
If you go straight to their website, they are just like most other dealers... Jus' sayin'...
Apmex runs a good sale once in a while. IMO - it is the site for the collector coin (coin geek) types. They have stuff there that maybe difficult to find easily otherwise. They generally charge more though.
I'm a busy guy. I just need to know when stuff stops being awesome....give me a jingle if that happens oK?
Turd Buttlaw, the world's greatest expert on silver after Jeffery Christian, has been predicting the imminent disappearance of physical silver supply since 2009.
Like who call's their son Turd anyhow?
Subject: Silver coin demand is absolutely through the roof
Answer: Good - you don't need anyone here buying any then because you're already fat on through the roof sales
It's a classic.
When dealers pay spot, or above, you’ll know demand is through the roof.
Manufacturing bottlenecks? Ok.
The heavy demand is illustrating the need for more silver, more coin presses, more hard money. No arguments here.
The stupid bankers tried to make it look like a bonehead play, to buy some silver. They drive the prices lower and lower expecting everyone to back away from it, since fiat-grubbing trash like themselves would do just that.
Americans love a sale, and silver's in the bargain basement. If these wizened luminaries (gangsters) had let it rise to some reasonable level, then flatline there stagnating, the demand would be much less.
No, they stuffed it down the toilet at God knows how much expense, only to see Americans raking it in as fast as they can on sinking wages and income. The rest of the world, too. They're cornered, let's finish them.
Buy Moar.
The idea that they cannot manufacture the coins fast enough sounds like BS to me. 12 coins a second for gold and silver minting is capacity. Thats 42,200 minted coins an hour. That's one machine.
http://research.perthmint.com.au/2015/08/12/coin-shortage-faqs-telling-a...
Assume they have more then one machine.
So one machine can make 864,000 in 20 hours assuming 4 hours a day for maintenence and inspection. Thats 25,920,000 in 30 days. Thats one machine.
So then blanks are too slow in coming? That process is based on the availability of 1000 oz bars which there are supposed to be plenty of. So WTF? Someone is bull shitting.
Minting is not the same as blank manufacturing which is where the shortage is supposed to be. How fast/many can they make of those?
The point I was making was that the numbers are way out of wack. The blank pressing isn't that much slower. The smelting, tempering and processing of the meta; itself is way more time consuming but that is done in huge quantities and done my several vendors. So WTF? `1000 oz bars are supposed to be in good supply. Maybe those bars are being hoarded. These banks are well known for doing that. I remember a few years ago Goldman Sacks was hoarding aluminum and jacking the price as a result. Where are the leaders? Where are the REAL leaders?
Yeah. Who knows what's really going on. It's all so hidden except for unrelenting Asian demand for all PMs. That's where the rubber meets the road.
Someone is bull shitting.
Someone is bullion shitting.