Thursday, October 23, 2008

The real story of gold and silver availability


Well, here’s a dose of reality folks: In a conversation I had with one ofCanada’s largest physical, retail bullion dealers last Friday – here’s a summary of what he told me:

- As a long time and valued customer of the Royal Canadian Mint, he has been told that the Mint is not accepting ANY orders for gold or silver coin for at least 3 months – and no guarantees then either.

Gold:

- There are zero one ounce gold bars in North America at wholesale – period.

- Same thing for 10 oz gold bars.

- Some kilo gold bars are available at wholesale but in highly limited supply at prices start at 5 % over spot [COMEX price].

- He is currently receiving a couple of hundred calls per day for small gold [one ounce denominations] and has no product to sell.

Silver:

- He told me there are ZERO one thousand ounce bars available at wholesale in the U.S.A and `supply of the same in Canada is HIGHLY limited.

- He laughed when I mentioned that there was supply at COMEX and he told me COMEX was a JOKE. He told me he doesn’t price silver using COMEX [silver futures prices] any more – he looks at prices being paid on E-Bay instead.

- He is currently getting 50 calls a day for silver and has no product to sell.


and this...


Room for rent - 60 "one ounce Silver Eagle coins" a month (san jose north)
Reply to: hous-889292171@craigslist.org [?]
Date: 2008-10-22, 11:42AM PDT

Furnished room for rent for 60 one ounce Silver Eagle coins a month.
Sorry, I do not accept cash nor checks. I only accept 60 of the "one ounce Silver Eagle" coins" or 6 of the "one ounce Canadian gold maple leaf" coins.

Deposit: Ten of the "one ounce Silver Eagle" coins.

DSL internet access, microwave, washer and dryer, close to shopping malls, San Jose airport, major freeways.

Looking for a non-smoker, non-alcoholic drinker, no pets, no drugs, working professional who is clean, neat and tidy.

More…


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