Physical gold and silver inventory watch 2013

pmbug

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Continued from last year's thread...

It's been 3 days since the last report.

The following report details changes from 12/30 @ ~9am to 1/2 @ ~9am:
  • 10 ozt gold bars - from 69 to 54. Pamp (-10), JM (-4), JM "bache" (-1 sold out)
  • 1 ozt gold bars - from 2498 to 2196. Apmex (-59), Pamp (-142), Pamp YotD (-25), Credit Suisse (-24), Perth (-47), Heraeus (-1), generic with assay (+16), Sunshine V2 (-12), RCM (-8)
  • 100 ozt silver bars - from 413 to 372. Apmex (-23), RCM (+12), JM "new" (-22), JM secondary market (-3 sold out), Englehard secondary market (-1 sold out), generic secondary market (-2), Sunshine (-1 sold out)
 

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mike

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Where do you see the inventory amounts?
Also, just curious, why do you choose Apmex for your index? Are they the biggest dealer?
 

pmbug

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The following report details changes from 1/2 @ ~9am to 1/3 @ ~9am:
  • 10 ozt gold bars - from 54 to 50. Pamp (-4)
  • 1 ozt gold bars - from 2196 to 2075. Apmex (-6), Pamp (-55), Pamp YotD (+27), Credit Suisse (-39), Perth (-14), Heraeus (-2), generic with assay (-11), Sunshine V2 (-9), RCM (-12)
  • 100 ozt silver bars - from 372 to 311. Apmex (-10), RCM (-32), JM "new" (-22), generic secondary market (+3)
Looks like some fairly strong sales volume.
 

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The following report details changes from 1/3 @ ~9am to 1/4 @ ~9am:
  • 10 ozt gold bars - from 50 to 42. Pamp (-5), Perth (-2), generic no assay (-1)
  • 1 ozt gold bars - from 2075 to 1535. Apmex (-27), Pamp (-219), Pamp YotD (-16), Credit Suisse (-244), Perth (-22), generic with assay (-7 sold out), Sunshine V2 (-1), RCM (-4)
  • 100 ozt silver bars - from 311 to 317. Apmex (-9), RCM (+6), JM "new" (+12), generic secondary market (-1), Englehard "first generation" (-1 sold out), Heraeus "poured" (-1 sold out), RCM "old style" (-1 sold out), JM "matching serial #s" (+1)
Monster sales volume for gold. Roughly 1/4 of their 1ozt gold bar inventory disappeared in the last 24 hours.

They also raised the premium on "generic secondary market" 100ozt silver bars to be in line with the other major brands.
 

swissaustrian

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the london pm gold fix (10 am ET) was intraday high today. That's when the huge physical transactions are taking place. Right after 10 am, we fell by $10.
This means: Heavy physical buying into the fix, paper selling thereafter.

 

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It's been 3 days since the last update.

The following report details changes from 1/4 @ ~9am to 1/7 @ ~8am:
  • 10 ozt gold bars - from 42 to 30. Pamp (-2), Perth (-4), JM (-6)
  • 1 ozt gold bars - from 1535 to 1597. Apmex (-18), Pamp (-75), Pamp YotD (-8), Credit Suisse (+216), Perth (-42), Argor-Heraeus (-2), generic without assay (+10), Sunshine V2 (-3), RCM (-16)
  • 100 ozt silver bars - from 317 to 297. Apmex (-21), RCM (-5), JM "new" (+8), generic secondary market (-1), JM "matching serial #s" (-1 sold out)
Sales volume over the weekend is usually pretty muted, but there seems to have been some pretty healthy sales activity - especially in 10ozt gold. Deep pockets are buying gold right now. Silver is also seeing some healthy sales volume.
 

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The following report details changes from 1/7 @ ~8am to 1/8 @ ~8am:
  • 10 ozt gold bars - from 30 to 86. Pamp (+53), Perth (-2), JM (+7), generic no assay (-2)
  • 1 ozt gold bars - from 1597 to 1406. Apmex (-1), Pamp (-37), Pamp YotD (-4), Credit Suisse (-166), Perth (-35), Heraeus( -3), Argor-Heraeus (-6), generic without assay (-10 sold out), Sunshine V2 (+100), RCM (-29)
  • 100 ozt silver bars - from 297 to 259. Apmex (-13), RCM (-11), JM "new" (-19), generic secondary market (-1), JM secondary market (+5), JM & Mallory (+1)
Sales volume still looks strong even though Apmex restocked a bit so the overall inventory numbers didn't dip too much.
 

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The following report details changes from 1/8 @ ~8am to 1/9 @ ~8am:
  • 10 ozt gold bars - from 86 to 84. Pamp (-6), Perth (-6), JM (-2)
  • 1 ozt gold bars - from 1406 to 1816. Apmex (-30), Pamp (-41), Pamp YotD (-4), Credit Suisse (+425), Perth (+72), Argor-Heraeus (-3), Sunshine V2 (-7), RCM (-2)
  • 100 ozt silver bars - from 259 to 255. Apmex (-35), RCM (+21), JM "new" (-21), generic secondary market (+27), JM secondary market (-1), Englehard secondary market (+4)
 

pmbug

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The following report details changes from 1/9 @ ~8am to 1/10 @ ~8am:
  • 10 ozt gold bars - from 84 to 89. Pamp (-1), Credit Suisse (+6 [new])
  • 1 ozt gold bars - from 1816 to 2249. Apmex (-28), Pamp (-43), Pamp YotD (-7), Credit Suisse (+366), Perth (-6), Heraeus (-5), Argor-Heraeus (-16), generic with assay (+172), Sunshine V2 (-2), RCM (-8), Englehard (+10 [new])
  • 100 ozt silver bars - from 255 to 338. Apmex (-7), RCM (-8), JM "new" (+104), JM secondary market (-3), Englehard secondary market (-4 sold out)
Generally strong sales volume continues for 1ozt gold and 100ozt silver. Massive restocking of Credit Suisse brand 1ozt gold over the last couple of days. The Credit Suisse brand now accounts for roughly half of their total inventory.

Apmex raised premiums on most of their major brand 100ozt silver by about $.20 each. They also have a note by the Englehard secondary market offeing that it is on pre-order and expecting to ship by Jan 15. But they aren't taking orders for it like they normally do.
 

Unobtanium

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Tulving only has 14 different silver products for sale right now, and is sold out of many of his silver products, including 90% junk (sold out products are now listed in a separate table on the lower half of the page).

I noticed that he is BUYING 90% silver at anywhere from 30-60 cents ABOVE spot, whereas for most to 2012 he was selling at below spot and buying at even further below spot.
 

pmbug

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From Jan 7:
Patrick A. Heller said:
Since the last time I reported the occurrence of slower deliveries of some bullion-priced gold and silver coins and ingots, supplies have gotten even tighter. As a result, even more premiums are inching upward.

On Monday morning, here is what one major wholesaler was reporting for delayed availability: In gold coins and bars: Half-ounce and tenth-ounce American Eagles, 1-ounce Buffaloes, Canadian Maple Leaves, South African 1 ounce Krugerrands, kilogram-sized gold bars, British sovereigns, Swiss and French 20 francs, Austrian 100 coronas, Mexican 50 pesos and Australian Kangaroos.

In silver coins and bars: U.S. silver American Eagles of all dates, Canadian silver Maple Leaves, 1 ounce Engelhard rounds and rectangles, 10-ounce Engelhard or Johnson Matthey bars, 100- ounce bars of any manufacturer and U.S. 90 percent silver coins.

If you look at the list of what is no longer available for immediate or short-delay delivery against the products that can still be acquired fast, there is one general rule: Products for sale at lower premiums above metal value tend to be in the shortest supply. Higher premium gold coins such as the U.S. gold American Eagles, Austrian Philharmonics and 2013-dated Chinese Pandas are still obtainable with no or minimal delays.

This past week we finally received a multi-hundred coin order of Austrian 100 coronas after a four-week delay. Future orders of this low-premium gold coin will take even longer for delivery.

Perhaps the most notable premium increase is in earlier-dated U.S. silver American Eagles The 1996-dated coins, the lowest mintage year, were already trading at premium prices. Now other dates such as 1986 and 1994-dated coins have developed significant premiums. The primary distributors have apparently already sold out this week’s first release of silver Eagles. Those now wanting to make a purchase may have to wait until the next release to take delivery.

In the first three trading days of 2013, Jan. 2-4, my company’s bullion sales exceeded the company’s total sales for the year 1982. Since gold and silver prices are only three to four times what they were back in 1982, obviously we are selling a far greater quantity of ounces of precious metals. I have heard similar stories of unusually high trading volume from other major bullion retailers.

The last time we saw such a strong surge in demand for physical precious metals was in late 2008. At that time, premiums rose significantly. At the peak, customers were paying 35-45 percent above melt for slightly delayed U.S. 90 percent silver coin because delivery of bars was two to four months delayed. Supplies of bullion-priced gold coins and bars were so tight that buyers jumped to purchase circulated common-date U.S. $10 and $20 gold pieces. It is not out of the question that we could see a return of such frenzied buying within the next few months.
http://numismaster.com/ta/numis/Article.jsp?ad=article&ArticleId=26340
 

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The following report details changes from 1/10 @ ~8am to 1/11 @ ~8am:
  • 10 ozt gold bars - from 89 to 88. Credit Suisse (-1)
  • 1 ozt gold bars - from 2249 to 2119. Apmex (-12), Pamp (-11), Pamp YotD (-7), Credit Suisse (-46), Perth (-23), Argor-Heraeus (-12), generic with assay (-7), Sunshine V2 (-6), RCM (-6)
  • 100 ozt silver bars - from 338 to 375. Apmex (-4), RCM (+12), JM "new" (-3), JM secondary market (+17), Englehard secondary market (+15), generic secondary market (-3)
Sales volume appears to have dropped over the last 24 hours.

Apmex is now taking orders for the 100ozt silver Englehard secondary market offering (that is on pre-order and expecting to ship by Jan 15), but they have a huge premium on it (ranging from $1.49 to $1.59 depending on quantity).
 

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It's been 3 days since the last report.

The following report details changes from 1/11 @ ~8am to 1/14 @ ~8am:
  • 10 ozt gold bars - from 88 to 82. Pamp (-3), Perth (-1), Credit Suisse (-2)
  • 1 ozt gold bars - from 2119 to 2046. Apmex (-2), Pamp (-38), Pamp YotD (-7), Credit Suisse (-138), Perth (+133), Argor-Heraeus (-1), generic with assay (-14), Sunshine V2 (-1), RCM (-5)
  • 100 ozt silver bars - from 375 to 333. Apmex (-6 sold out), RCM (23), JM "new" (-8), JM secondary market (-2), Englehard secondary market (-2), generic secondary market (-1)
Fairly strong sale volume for a weekend - especially in 100ozt silver.

Both 1ozt and 10ozt Pamp gold bars are listed as available Jan 23 and Jan 30 respectively. Assuming this means the inventory being offered for sale is not actually in stock, the total in stock inventory for 10ozt gold is actually 36 bars and for 1ozt gold is 1,985. Perhaps this lends credence to Egon's claim reported in post #13 above.
 

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The following report details changes from 1/14 @ ~8am to 1/15 @ ~7am:
  • 10 ozt gold bars - from 82 to 78. Pamp (-2), Credit Suisse (-2)
  • 1 ozt gold bars - from 2046 to 4865. Apmex (-3), Pamp (+734), Pamp YotD (-1), Credit Suisse (+2116), Perth (-24), Argor-Heraeus (-1), generic with assay (-1), generic without assay (+1), Sunshine V2 (-1), Englehard (-1)
  • 100 ozt silver bars - from 333 to 330. RCM (-6), JM "new" (-3), JM secondary market (-3), Englehard "struck" (+8), generic secondary market (-2), JM "Canada" (+2)
Very weak sales volume except for 10ozt gold. Huge inventory additions for 1ozt gold. Pamp Suisse gold still listed with a future availability date. Credit Suisse listed as available now.

This is the largest inventory of 1ozt gold I've seen since I started tracking in December 2011. The previous largest I saw was 3,859 bars on Aug. 28, 2012.
 

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The following report details changes from 1/15 @ ~7am to 1/16 @ ~7am:
  • 10 ozt gold bars - from 78 to 70. Pamp (-11), JM "poured" (-2), JM "pressed" (+5)
  • 1 ozt gold bars - from 4865 to 4789. Apmex (-16), Pamp (-40), Pamp YotD (+3), Credit Suisse (-74), Perth (+85), Heraeus (+5), Argor-Heraeus (-1), generic with assay (-33), generic without assay (-1 sold out), Englehard (-4)
  • 100 ozt silver bars - from 330 to 345. RCM (+35), JM "new" (-3), JM secondary market (-13 sold out), Englehard "struck" (-5)
Sales volume continues to be strong for 10ozt gold.
 

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The following report details changes from 1/16 @ ~7am to 1/17 @ ~8am:
  • 10 ozt gold bars - from 70 to 70.
  • 1 ozt gold bars - from 4789 to 4814. Apmex (-5), Pamp (-27), Pamp YotD (-12), Credit Suisse (-22), Perth (-4), Heraeus (-2), Argor-Heraeus (-1), generic with assay (-3), generic without assay (+4), RCM (+97)
  • 100 ozt silver bars - from 345 to 587. Apmex (+244), RCM (+4), JM "new" (-4), JM secondary market (+4), generic secondary market (-5)
 

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The following report details changes from 1/17 @ ~8am to 1/18 @ ~8am:
  • 10 ozt gold bars - from 70 to 58. Pamp (-8), JM "poured" (-4)
  • 1 ozt gold bars - from 4814 to 4599. Apmex (-10), Pamp (-28), Pamp YotD (-7), Credit Suisse (-110), Perth (-8), generic with assay (-23), RCM (-29)
  • 100 ozt silver bars - from 587 to 528. RCM (-5), JM "new" (-58), JM secondary market (+6), Englehard secondary market (-3), Englehard "struck" (+2), generic secondary market (-2)
Sales volume looks fairly strong. Apmex also lowered the premiums for many of their 100ozt silver offerings by $.10-.20.
 
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