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Apmex Is On Hiatus Until Asia Open, Or Why You Better Already Have All Your Physical By Now...
As of yesterday, anyone wishing to pad their holdings of precious metals in response to what is about to be a perfect storm in risk, using one of the biggest vendors of gold and silver has to wait until Asia open, as the firm's checkout counter has just decided to enter suspended animation until 8pm today. "*Attention – Due to the uncertainty in the global precious metals markets, we will not be able to accept any additional orders until the global markets re-open in Asia. We expect to be accepting orders around 6:15 pm EST. Sunday August 7th, 2011, following the market open." Implication: the opening print in gold will not be the closing print from Friday. That much we can guarantee you.
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Spot on kid!!!
I hope you are right.
haha - got my purchase in on friday night
Bought 200 oz of silver on Friday afternoon. It's already shipped and on its way. That was my first silver purchase as all my previous purchases were gold. Hopefully, I get more opportunities in the future.
JPMorgan finally gonna crash? Or Comex, LBMA, anyone?
I suspect Blythe Masters may be contemplating suicide at this very moment.
Are you joking Blythe is going to make so much money tomorrow , they know they are fucked so you might as will go big time and sell as much paper as you can , happy days are here , my question has always been ,who buys all this paper that they flood the market with, would you ?
Somehow I doubt it.
Check out what she's been up to.
http://blythemasters.blogspot.com/
Eewww, I feel a little dirty having just gone there.
Looks real.
Someone had to let the world know, and since Yours Is Bigger, well, thanks!
Spot + $200 GOLD Bitchez!
I don't know much myself. If you think life will be better gold will trend down, if you think the worst is yet to come then BTFD using your fiat. Who really knows? Most long time readers of ZH do. (ahem)
The average lifespan of a fiat currency is 27 years
Every fiat ever made has eventually gone to zero
The people who know what is going on are stacking gold in their vaults
They are also lying about gold, saying they possess it out of tradition
It isn't hard to figure out.
1664.60 Gold
38.49 Silver
1731.10 Platinum
Current as of 5mins ago
Actually the Ask/Bid right now on Apmex for gold is showing $1679 and $1684.
Where did you hear 27 years. I heard 60 years.
Either way, it's been 40 years since the end of Bretton Woods, and even Bretton Woods wasn't a true gold standard. We are getting near the 60 year level anyway.
60 years is the LONGEST IN HISTORY, not the average. This was in Mongol China, which had three bouts of hyperinflation during their oh-so-short 120 dynasty.
And the MEAN length of fiat currencies is more like 10-15 years, FYI.
The 40th anniversary of the closing of the Gold window by Nixon making the US Dollar a Fiat Currency will be this month on 15-AUG-2011.
And he had to close it because of France. They may be cheese eating surrender monkeys but they knew the value of gold as opposed to paper money. They were really the primary ones calling LBJ's inflation bluff and continuing to do it against Nixon.
Vive La France!
From what I understood, APMEX was supposed to be hedged against this sort of thing. Gross price swings in either direction were supposed to be met with their paper positions. Either the physical market has become a lot tighter than we've realized, or APMEX has been blowing a lot of smoke over the last few years.
I guess we'll have to wait till the Asian market starts trading to SEE what this fuss is about. I'll wager it's going to get more ugly from this point forward.
as much as it makes sense that they would suspend orders until the price jumps at the asia open to make more on sales, it also makes sense they would do so if the cost of these paper hedges can be had for cheaper, to make fewer losses on insurance.
it could still go either way.
They are hedged, but weekend buying was probably wiping out their inventory. I bought less than an hour after the downgrade, but my first choice, which had more than a thousand oz in stock a few hours before, was GONE. Had to go with junk.
APMEX has had a flurry of email sent out this week. "BUY GOLD" and other editorial emails.
I guess it paid off. Maybe they were doing their best to dump their inventory. APMEX may know more than any of the amateurs on this site who think they know the PM markets.
Didn't they buy back silver they had just sold last silver rocket a few months ago?
Tulving just quoted $1673 + $38 markup (& a $2 sale price at that) on AU...
I'm expecting intervention of one form or another...... or A.M. margin dump tomorrow
I don't think so. How can they hedge when the futures market is closed...that is the key here.
Firing Pin -- shooting blanks. You think they only have a one or two day view of the market? Maybe you -- but not them. As I pointed out above, they have been setting this up for the last 7-10 days.
These modern day clever globalist banksters and politicians have been crafting the silver scam for around 100 years, conditioning the sheeple to forget about what the rest of the world and history has deemed an acceptable form of payment for the sale of, or the services rendered for the past 6000 years. Once the lid blows off the silver pressure vessel, it may be referred to in the future as Fukasilver 2011.
Run to the coin shops bitches!!!
So, debt downgrade means higher interest rates/yields?
And we all know how higher interest rates are good for gold...
So is it the deflation or the inflation that is in the works?
Does it matter?
If money leaves treasuries, where will it go? Gold? Cash?
Can the fear in markets get any worse in the short run?
Remember, everyone is a contrarian these days!!
http://ghickeyblog.blogspot.com
gh
Rules of thumb might not work in a hurricane.
If everyone believes the currency is about to crash, interst rates will be irrelevant.
Panic follows its own rules.
Prepare for the nothingburger...
Bullish!
DoctorGold,
It means this is, as Gibbon may put it, a watershed. You are about to witness gresham's principal in play, bitchez!
so, who is wise among you, make your play wherever you may, this is but one of a few remaining days.
this is the dawning of the age of argentinium.
janus
Gresham's dynamic Bitchez! Guaranteed financial collapse...
<-- Big up on PMs being last resort
<-- Big down as everyone liquidates to buy food and ammo
BTW Bullion By Post in the UK not opening until 9:30AM Monday.
Too bad no button for how the hell would I know...
Score so far at TJ00:
Green up: +4
Red down: -2
Bearing who knows?: 1
We will have to wait for Asia to set the tone.
Thanks for the news in the UK that some of there gold sellers are waiting...
Wow, Vaseline for all Citizens of the USA. Nevermind they have no clue. Now tell them Desperate Hosuewives is cancelled, they will fucking flip.
Wow, Vaseline for all Citizens of the USA. Nevermind they have no clue. Now tell them Desperate Hosuewives is cancelled, they will fucking flip.
Owning gold is just tradition. It is not money. The greatest single secret in the world, aside from where Jimmy Hoffa is buried, is what all of our central bankers are doing with gold and gold swaps. I would dearly love to know the number of claims on what gold we have. I am sure claims outnumber supply.
Oh yea, and the next time some moron says it only costs 5 bucks an ounce to dig silver out of the ground- hand em a c note and tell em you'll take 20 ounces.
Someone linked an interview with Jim Rickards higher up in this thread in which the poster says that Rickards believes every unallocated ounce of gold in bullion banks has 20 claims on it.
How many claims does "allocated" gold have on it, 10?
I view this as a more bearish sign on PMs, at least from an intermediate standpoint. From my experience, APMEX is a good company to do business with, but on April 25, I received an e-mail from them, part of which is below:
"Due to the recent incredible demand for Gold and Silver bullion products, APMEX would like to offer you an exclusive opportunity to LOCK IN YOUR PRICES and sell us some of your U.S. Mint collection. This is a limited time offer and it is first come, first served until we have secured enough U.S. Mint bullion products to meet our current demand!
...We will pay you $38.00 over the current spot price of Gold for your Gold American Eagles. ANY year, ANY quantity!
We will pay you $3.00 over the current spot price of Silver for your Silver American Eagles. ANY year, ANY quantity! "
I took the e-mail as a sign that it was time to sell my paper/mining holdings (I wouldn't sell my physical as it is part of a worst case insurance policy that I hope never has to be drawn on). Could be wrong, but don't think this is the time to go hog wild bullish.
I received the same email from APMEX. Same here, holding physical as the apocalypse reserve.
Lowest sell order in New York on Bullionvault, who store $1bn in client gold is over $1772. Silver is trading at $40.75, still a lot of sell orders for silver if you want to buy some over the weekend. In terms of gold, it's pretty much dried up. A bit to buy around $1700, but looks like no one wants to sell.
For the lols, here's Ben saying gold isn't money. Gonna have to watch this one more time. http://www.youtube.com/watch?v=2Dj9v9s9buk
Go to Apmex yourself, and try it. People can still place order at the moment.
http://www.apmex.com/
Add it to your cart and then try to check out.
No workie.
Apmex not the only online dealer on "holiday."
http://www.bullionbypost.co.uk/silver-bars/100-gram-silver-bar/umicore-1...
A friend tried to buy gold sovereign coins from coininvestdirect.com in Germany yesterday. A substantial dealer. Site took the order, but he received an email later apologising that they could not actually take the order as they're totally sold out. Their policy is never to list anything for sale that they do not have in stock. This hints that they too made a snap decision not to sell anything over the weekend despite having stock.
APMEX inventory is already on the books at their cost. The only reason to stop taking orders is that they believe prices will spike and they can sell it for more.
bastiat @ 12:06,
Explain to an idiot, Already on their books at their cost?.
Yeah, so is every other buisiness on the planet.............screw their COST, it's what they sell at, that's the issue...........and it damn sure ain't their COST.
It's the replacement cost of what they are selling now they are looking at I believe.
Uncle Remus,
I disagree, they have forward purchase options at set prices, as much as they purchase.
Bottom line, they are just like the Fkrs in D.C.
.
You always make good sense, Bastiat.
Tell that to my wife!!
meh
I have 20 ounces physical since late 2008 after reading Crash Proof - by Peter Schiff. Since then I have had one eye on the markets while trying to maintain my sanity. Now it's time for everyone else to lose theirs.
There is Crash Proof 2.0 for those that are interested. I browsed through the book but have been heeding his advice as well as other Austrian school economists (Mises, Hayek) and they have been spot on with their calls (. It's still amazing to me that for all the times he's been right, and proven the other "analysts" who laughed in his face and were complete PHAIL wrong on their calls, especially in housing most recently, the financial media still doesn't bring him on more and politicians don't take his advice.
For those interested in the Austrian School here is a good starting resource Mises.org:
What is Austrian Economics?
http://mises.org/etexts/austrian.asp
i can think of a couple of reasons he's not on tv more...
1) the financial media (owned and operated by tptb) wants people in the markets - not PMs.
2) i like the guy, but i'm sure he comes across as pompous and arrogant to most, especially with his "i told you so" schtick.
and for your viewing pleasure...
http://www.youtube.com/results?search_query=peter+schiff+was+right&aq=f
http://www.youtube.com/results?search_query=peter+schiff+gets+laughed+at...
I know the reasons but it amazes me because his "schtick" was the same when he first appeared; i.e. being an abrasive truth teller and dogmatic believer in the underlying fundamentals and macro economic implications. He was always having to explain to people the reality. I've seen both those videos as well before and will certainly watch them again for the laughs.
Incidentally people like Robo who want to point out the General Jim has been wrong about mining shares also say that about Schiff, who has made great calls on some things like like SVM which went from $5.28 to $16.
They also don't like him because he doesn't willingly give the "analysts" and commentators stock picks and specifics.
Do you the sheeple have any idea what might happen on Monday?
This weekend i drove trrough some of the trendy shoping areas in Richmond VA; like any otherday, the public was out in force spending on useless trinkets.
They were out in force because it's a tax-free shopping weekend in Virginia.
Yes
The people of Zerohedge will make money
(those that have been paying attention)
Tyler Durden and Zerohedge were mentioned on the Rush Limbaugh show friday.Thought that might have taken down the ZH site this morning or perhaps my mention of the vatican and satan in the same sentence,when i went click the site was lost to me for hours.
Looks like Tyler & Zerohedge are in an upward channel breaking the resistance at the top........Congrats
Cheers to all
Rush is GARBAGE!
No, Pus Lowbrow is the slimy, stinking, fetid fluid that oozes from garbage.
He used to be a Pittsburgh disk jockey named Jeff Christy. Worked for 13Q AM. They called folks live and if you answered your phone by saying "I listen to the new sound of 13Q!" you'd win FRNs.
I think it's going to rain.
I have been had my physical! God Bless Precious Metals!
Apmex has always been too high priced.
Gainesville coin has no problem,online store open 24 hrs
Cha Ching !
Order placed ,yes
24 hours may well be too late.
Hope you already have your PMs.
My thoughts exactly at this point. You can order it, pay for it.... but when (if ever) will you receive it? I think it's way to dicey right now to place another order, I just don't trust on delivery any time soon given the current situation...
"Bought 200 oz of silver on Friday afternoon. It's already shipped and on its way"
Who do you know at APMEX that ships an order placed on Friday afternoon and ships the same day? I've placed several orders from them over the years (via credit card, personal check and bank wire respectively) and NEVER had it ship the same day.
A wire transfer from a large, repeat customer, perhaps. I've noticed that since I have become a major customer of theirs that the wait times have become significantly less than average. I don't even have to give them a credit card number any more to hold the purchase until my payment gets there.
Three days is best I've ever seen from 'em. Usually more like 4 or 5.
That has usually been my experience as well. I still have to guarantee orders prior to payment receipt but my account has $10 shipping status on all orders, regardless of weight. The last batch I bought (quite a while ago) was 60 AE and that was a bargain given the price ($23/Toz) and $10 for shipping. I have never been a large purchaser in the big scheme of things as I only purchase when I can pay for it. If by CC then a transfer within my CU to pay for it prior to the billing statement being issued. If I can't pay for it, I don't buy it. That's worked out pretty well for me up to this point.
Cult of Criminality , <-------------- the name fits for Ganiesville Coin
Apmex has always been too high priced.
Gainesville coin has no problem,online store open 24 hrs
Cha Ching !
Order placed ,yes
*******************************************************************************
Dear Mr. Castellano,
As you know from the below email, our office has the honor and responsibility of representing XXX. XXXXXXXXXXX. We would appreciate confirmation as soon as refunded our client in full. I am at a loss to understand why you required wire instructions when a credit will suffice.
In any regard, please refund the amount in full promptly and be sure to reply to me that same has been completed.
Thank you for your assistance.
Rusty Huseman
William R. Huseman, P.A.
3733 University Blvd. West, Suite 305A
Jacksonville, Florida 32217
(904) 448-5552
Fax (904) 448-5653
I told everyone here time and time again! but NO ONE wanted to hear it! NO One wanted to know the truth! Everyone wanted to listen to the Salesman Plants!
Now ya Fucking Know!
Not sure im reading your post correctly .I have had no problems
perhaps you could connect the dots for me. By the way I am no salesman
I am a medical gas technician and installer among other things. Have i inhaled to much N2O ?
You're fine. The guy just has something against Gainesville, but who can guess what it is. Some cryptic e-mail about wire transfers and a refund is supposed to be self-explanatory I guess.
XenoFrog
lol no doubt. seems he does have some axe or(sword to grind)
thank you for the response
I called Gainesville Coin after hearing about them here.
Gainesville Coin is Not! Direct to the Mint.. which means you are paying the Middle man.
http://www.usmint.gov/mint_programs/american_eagles/?action=lookup
I am not the only one who has had problems with them here at zerohedge..
But your one line of drivel is always welcome, I love a spring board.
he's attempting to sue me for boarding his ship, stealing his booty, and plundering his harlots.
i kept the booty and sold the harlots to barbary pirates -- they pay in bullion.
well, he won't get any of it back -- all my lawyers were circumcized...and they had no choice in the matter.
Yea but Gainsville never sends Christmas popcorn like Apmex.
What's coming in AG: on one day soon, then will be a divergence of spot prices; ASIA (HKME) will be up $20 over previous NY spot and then hell will break loose, first at LBMA and then at CRIMEX.
My prediction: PM prices will fall tomorrow. The Feds will drop billions in shorts everywhere. For over ten years now there has been no correlation between events and PM prices. TPTB make sure of it. In the long haul, of course the manipulators will fail. Buy physical.
You are 50% correct. Anytime I ask attorneys about chances of winning cases, they always say 50/50 right out of second year law school standard CYA answer.
Best bet for paper Friday afternoon would have been to buy 10 gold calls to every 7 silver puts of similarly priced options. You figure out the math on Monday at 11:30 am.
my two cents...charts say EGC looks poised for a pullback...gap up on 8/3, gap fill on 8/4, flattish settle on 8/5...i think most would agree equities are going to take a hit to put it mildly...so imho this sets things up nicely for a margin call induced selloff in Au...transitory, of course...but what do i know...
http://www.youtube.com/watch?v=vWz9VN40nCA
Lets get Physical. This Rocks Hard. Play it loud.
As far as I can tell all of the domestic guys are out of COMEX (1,000 oz) bars....
This may be the beginning or greater realization of the need for substitutes for the dollar as larry, Timmy and Ben keep their promise to weaken it to stimulate imports. When insurance companies and UT Pension Fund bought Billions of gold everyone should have been on alert.
just my guess that PMs will rise sharply....GL!
Whoa. When did Apex start charging $20 above spot in addition to their usual premiums on all their gold items? Looks like they also hiked the premiums on their Eagles and Buffalos by $10 in the last 48 hours.
This is what happens with hyperinflation, which hits precious metals first. Holders are afraid to sell out of fear the price is going to continue to gap up. Then it spreads to everything people need. Prices for food and basic necessities go thru the roof.
I hope this event will push silver past the 50 buck mark once and for good.
Doctor Benky and mister Tim
When I'm pilled you don't notice him,
He only comes out when I drink my gin.
Gold v Silver Above Ground Reserves
http://www.silverinstitute.org/supply_demand.php
http://www.gold.org/government_affairs/gold_reserves/
Now one of these is FAR! More Scarce than the other.. but yet the other is FAR more expensive.. One of these will turn dirty water into drinkable water and one will not.. one will heal the most dreadful of wounds and yet the other still will not.
People at some point are going to wake up to these facts.
I own Gold and I own Silver.. which one is worth more to me? Without the Sheep BAAAAAing in unison over the paper (fiat) Price??
Silver.
There has been a lot of chatter about the danger of paper gold and silver at zerohedge and elsewhere. Be aware that ETF's of any kind are nothing more than derivatives.
Therefore, just like CDO's and other similar vehicles, ETF's will eventually blow up. Just pick several individual companies in the sectors you want to gamble and buy physical when it comes to PM's.
Do you feel lucky?
http://blogs.barrons.com/focusonfunds/2011/08/04/investors-pile-into-gold-etfs-in-july-tech-japan-moo-popular/
Investors Pile Into Gold ETFs In July; Tech, Japan & MOO PopularThey are stooooopid!
If you do not have it in your safe? or in your pocket? or in your house(s).. then YOU! dont own it!
this includes fiat!
Take your bank statement to the store and try to buy something? OOPS!!
I think you just answered your own question.
Will Apmex be sending out those wonderful pop-corn tins this christmas? I really enjoy my yearly apmex popcorn.
I buy 2" thick steaks with some of the money I saved by no longer purchasing from AMPEX.
Popcorn I pop fresh.
The physical gold market is open right now.
This is all you need to know about what is going to happen at tonight's Asian opening:
http://www.bulliondirect.com/nucleo/lp/American_Eagle_Gold_Coin_(1.00_oz).html
Hint: UP...
Another major market correction on Monday will bring a different kind of buyer to precious metals. The small investor will now be panicking to find a safe investment. The small investor will be buying silver. He will be looking for it in the coin shops and buying silver eagles. Those that can handle a larger investment may actually buy the paper silver (they generally don't know the compromised value of paper silver).
Look for silver to rise by a greater percentage than gold this week.
There is still plenty of PM for sale on eBay. Just sayin...
"Back in 2001, just as gold was recording a multidecade low beneath $300 per ounce, and the ancient monetary metal had been thoroughly outcast from the consciousness of financial markets, Jim Sinclair made an incredibly bold prediction. He forecast a powerful bull market for gold that would bring the price to at least $1,650 per ounce, implying about a six-fold increase from its price at the time."
http://www.msnbc.msn.com/id/44018616/
And why $1764? Released today from GoldMoney.com
Jim Sinclair interviewed by James Turkhttp://www.youtube.com/watch?v=IF24atvNkSo&feature=player_embedded
I picked up some Mexican Silver 100 pesos 1977-1979 from Provident Metals for melt plus shipping. Best deal I could find, and I don't have any Mexican so this will diversify me. Cheaper than bullion can't beat that.
I have no business interest in Provident except they have done me right. I pay with check and shipping is light.
Gold and silver heading lower in euros. What crisis?
Can i buy calls on a gold volatility index anywhere???
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