No Silver Eagles??

ancona

Praying Mantis
Messages
3,370
Reaction score
1
Points
0
Location
Waaay south
In addition, he is out of 100 oz., 10 oz., and Maples. All he has are some Phillies and generics. Now this guy, who I buy from a lot, always calls em when he has a deal or a "pass through" where he charges a small fee to legitimize a deal, and he always gives me the skinny. Yesterday evening I saw him at Five Guys and sat down with him to eat my hamburger sandwich and bullshit. He told me that he is having an extremely hard time getting new silver and that lately he has been relying on incoming sales to maintain some semblance of stock. He went on to say that he just placed a fair sized order through Tulving just because it was his only source for Eagles, 100$ bags face junk and a few other things. He couldn't define a specific choke point, but made it clear he isn't the only dealer in our state having problems sourcing silver with a very near term delivery date. I asked him about Apmex and whether or not they gave dealer discounts, because they always have metals, and he responded that no, they do not. He expounded further and said there is a lot of chatter in the marketplace about a couple of huge buyers demanding silver from a major exchange that are getting stonewalled. The exchange apparently is refusing to deliver that amount of silver, requiring them instead to settle out in fiat.

Strange indeed.
 

pmbug

Your Host
Administrator
Messages
7,500
Reaction score
38
Points
203
Location
Texas
... He expounded further and said there is a lot of chatter in the marketplace about a couple of huge buyers demanding silver from a major exchange that are getting stonewalled. The exchange apparently is refusing to deliver that amount of silver, requiring them instead to settle out in fiat. ...
Likely the same rumor that Ned mentioned on the Keiser report.
 

Jetstream

Big Eyed Bug
Messages
318
Reaction score
0
Points
0
No problem with the coin dealer that I talk with. Maybe it is a looming situation but not yet a full-blown issue?
I am still of the opinion that the future economic disintegration will not be an overnight thing, but a rapidly escalating crisis over a period of weeks. They cannot have a population enraged all at once without the draconian steps necessary to control said uprisings from an economic collapse.
That process would include the (lack of) supply of PMs.
 
Last edited:

ancona

Praying Mantis
Messages
3,370
Reaction score
1
Points
0
Location
Waaay south
Jetstream,
While I agree with the part about a gradual disintegration, II think that when metals begin their unstoppable rise, and all those smurfs who bought sovereign debt want to bail in to something more sound at the same time, we will se that no one has any metal for sale at any price. We have seen that during the meltdown already, and I believe the next evolution of this crash will be exponentially worse. At that point, whoever has metals will have them, and with a collapsed economy and trust in fiat completely lost, miners will not be able to concentrate ore nearly fast enough to supply demand for hard money, let alone supply metal to industry or ETF's for stockpiling. At that point, metal will all be sold before it is even mined.
 

vox

Predaceous Stink Bug
Messages
126
Reaction score
0
Points
0
Just placed an order with Tulving...no indication of supply issues.
 

mmerlinn

Ground Beetle
Messages
633
Reaction score
0
Points
136
Location
Here, There, and Everywhere
Strange indeed.
Does not seem all that strange to me. Same thing happens in any market when it finally breaks out to the upside after months/years of going sideways. This breakout run up has been too much too fast. There should be a significant pull back shortly and when that happens supply tightness should TEMPORARILY ease. Time to consider loading up more PMs on every pull back.

Unfortunately, I won't be raiding the LCSs like most of you will. I am in the middle of a long term and costly move which is soaking up all spare cash as well as a lots of time.
 

benjamen

Yellow Jacket
Messages
1,620
Reaction score
0
Points
0
Location
Migratory
In addition, he is out of 100 oz., 10 oz., and Maples. All he has are some Phillies and generics. Now this guy, who I buy from a lot, always calls em when he has a deal or a "pass through" where he charges a small fee to legitimize a deal, and he always gives me the skinny. Yesterday evening I saw him at Five Guys and sat down with him to eat my hamburger sandwich and bullshit. He told me that he is having an extremely hard time getting new silver and that lately he has been relying on incoming sales to maintain some semblance of stock. He went on to say that he just placed a fair sized order through Tulving just because it was his only source for Eagles, 100$ bags face junk and a few other things. He couldn't define a specific choke point, but made it clear he isn't the only dealer in our state having problems sourcing silver with a very near term delivery date. I asked him about Apmex and whether or not they gave dealer discounts, because they always have metals, and he responded that no, they do not. He expounded further and said there is a lot of chatter in the marketplace about a couple of huge buyers demanding silver from a major exchange that are getting stonewalled. The exchange apparently is refusing to deliver that amount of silver, requiring them instead to settle out in fiat.

Strange indeed.
I have seen a similar run on my LCS. As of last month, my LCS had zero palladium and only a couple of proof platinum coins. For gold the guy only had a few AGE and bars left. He basically told me to call him prior to my next visit to make sure he has anything I would want!
 

Jay

Yellow Jacket
Messages
1,511
Reaction score
0
Points
0
I noticed looking at Provident Metals online that they are more out of everything than seems usual, but I'm just daydreaming as I've stopped purchasing pms for a while in order to get other stuff....
 
Top