#silversqueeze

[SilverStacker]

I placed 3 separate orders for American Silver Eagles (ASEs) around the start of the month with a fairly well known online bullion dealer. I mailed 3 separate checks one for each order over the span of about a week.

The dealer received and cashed the first two checks and sent me emails saying that shipments would be delayed. Apparently they don't have inventory and need to source the ASEs on the wholesale market.

I've gotten another email from them claiming that they have not received the 3rd check. I suppose it's possible the US Post Office mishandled the mail, but I am suspecting they have received the check and realized they can't fulfill the order, so they are trying to weasel out of delivery by not cashing it.

I found BU ASE's but had to pay thru the nose for them so I kept the order small. Its almost like conditions are changing by the hour. Now I can't find Kangaroos because the Perth mint has closed them up. The only advice I have is to hold tight, still buy but buy smart and wait out until the market adjusts. I think one thing is obvious and that is the days of cheap silver are way over.

I have some 90%, some rounds/slabs and a few ASE's, in play. But I'm not over extending even tho I think silver is going for a moon shot. $60 ASE's leave me weak in the knees. I just wish I clicked those Kangaroos a few weeks ago when I had them loaded. 20 of them.

 

[pmbug]

I placed 3 separate orders for American Silver Eagles (ASEs) around the start of the month with a fairly well known online bullion dealer. ...

Update:

I got emails notifying me that the first two orders were shipped this morning.

I called the dealer to alert them that I had mailed the check for order #3 the same day it was placed. Agent on the phone said if they don't receive it by Monday, they will contact me and give me the opportunity to effect payment via ACH (electronic check). So if the agent was honest, they are not going to stealth cancel the order.