Anybody else waiting for silver from a mint/dealer?

[silenceissilver]

36 minutes ago, LawrenceChard said:

It is my guess that Baird do not want to accept website orders over a long weekend for a few possible reasons:

1) In case of large bullion price changes over the weekend.

2) So they do not oversell any particular product (although I would have thought they would have set stock threshold limits).

It would be pure speculation to assign any other general meaning or inferences to any action by a single dealer.

The CEO of Degussa, Markus Krall, said, they don't short sell any gold or silver at this point, so they only sell what they have in stock. He said in the past, this was not necessary, so if they knew they were about to get a delivery from a mint in e.g. two hours, they could sell it already as they could rely on the supply chain but under the current circumstances they have stopped doing this and thus you can place orders there but there are interruptions - when they are sold out on an item and are awaiting their next delivery.

I'm wondering, if this reflects the general approach in the whole PM retailer sector. What's your thought on this?

Btw, I convinced a friend to buy gold for  20.000£ and after his first test order (he is a first time buyer and still sceptical whether he can trust Chards, I told him sure he can) of a one ounce Britannia - at your company - which he says he expects next week after he got (a pretty fast) email response, he wants to place the order for the rest. Do you grant commissions? 😀

[Pete]

I've got substantial orders with both the European Mint and GS.be waiting stock.
Likely to be a while but willing to wait only hoping both will remain in business and deliver.
Cancelling is not an option unless they are prepared to pay current prices especially with my platinum coins.

[ittle5huggy]

@LawrenceChard, thanks for helping me with my thinking, I thought it was a bit skewed on that area many thanks.

1 hour ago, LawrenceChard said:

Deals on recognised Commodity Exchanges are different from "normal" deals, and Commodity Exchanges all have their own sets of rules and standard contracts. Your thoughts about "in market terms goes from a physical sale and becomes a futures contract" are not correct.

 

[Russell]

Thanks for all the ansers guys I am reassured now.  I am new to silver stacking and still finding my feet.  I am paying the price for shopping on Ebay and this bar from Baird averages my price per ounce  down.  I am convinced silver is going to explode and it has probably already started.  J P Morgan has closed a lot of short positions (last Tuesday) and soon the others will close theirs but they are risking a short squeeze.  If that happens silver spot price will explode.  Comex is having major problems etc. and gold will also lift the silver price from a ridiculous low.  So I am panic buying at the moment to get up to my first 200 ounces 😁😁

[Spectre77]

2 minutes ago, Russell said:

Thanks for all the ansers guys I am reassured now.  I am new to silver stacking and still finding my feet.  I am paying the price for shopping on Ebay and this bar from Baird averages my price per ounce  down.  I am convinced silver is going to explode and it has probably already started.  J P Morgan has closed a lot of short positions (last Tuesday) and soon the others will close theirs but they are risking a short squeeze.  If that happens silver spot price will explode.  Comex is having major problems etc. and gold will also lift the silver price from a ridiculous low.  So I am panic buying at the moment to get up to my first 200 ounces 😁😁

nice, make sure you consider the 100 oz bars from Baird-I ordered a couple myself, can't wait to arrive (apparently you can do weight lifting exercises with them)

[Russell]

1 minute ago, Emanuel said:

nice, make sure you consider the 100 oz bars from Baird-I ordered a couple myself, can't wait to arrive (apparently you can do weight lifting exercises with them)

So its 2 X 100oz bars to use as dumbells then 😉😁

[Spectre77]

Just now, Russell said:

So its 2 X 100oz bars to use as dumbells then 😉😁

pretty much

[LawrenceChard]

1 hour ago, silenceissilver said:

The CEO of Degussa, Markus Krall, said, they don't short sell any gold or silver at this point, so they only sell what they have in stock. He said in the past, this was not necessary, so if they knew they were about to get a delivery from a mint in e.g. two hours, they could sell it already as they could rely on the supply chain but under the current circumstances they have stopped doing this and thus you can place orders there but there are interruptions - when they are sold out on an item and are awaiting their next delivery.

I'm wondering, if this reflects the general approach in the whole PM retailer sector. What's your thought on this?

Btw, I convinced a friend to buy gold for  20.000£ and after his first test order (he is a first time buyer and still sceptical whether he can trust Chards, I told him sure he can) of a one ounce Britannia - at your company - which he says he expects next week after he got (a pretty fast) email response, he wants to place the order for the rest. Do you grant commissions? 😀

Have you got a link to Markus Krall's statement. I looked for it, but could not find it quickly.

Degussa are primarily a "producer" and refiner. As such, it is almost certain that will take production orders.

I think each participant in the market will have different trading policies. I would expect most refiners, mints, distributors and dealers aim to balance their "books", and therefore most will "cover" their positions frequently.

There are also speculators who specialise on doing exactly that, taking long or short positions depending on their analyses or the market. These may include hedge funds, private individuals, and major international banks.

Thank you for recommending your friend, but we have negative stocks of gold bullion Britannias, and like most other dealers, do not have any firm delivery dates. I have been doing some work on this today, and yesterday. The only gold Britannias we are likely to have will be a few earlier or special dates, which will be at higher premiums.

We don't pay any commissions, and we do not run any affiliate programmes, unlike some of our competitors. While they are good in theory, they are open to abuse in practice. Also, if you looked at some of the margins we work on, you would know why.

[RacerCool]

Part of the delay is that they're prioritizing essentials, so non-essentials will take much longer to ship.

As for me I'm still buying rolls of BU silver dimes off ebay. They're still reasonable.

[LawrenceChard]

1 hour ago, Russell said:

Thanks for all the ansers guys I am reassured now.  I am new to silver stacking and still finding my feet.  I am paying the price for shopping on Ebay and this bar from Baird averages my price per ounce  down.  I am convinced silver is going to explode and it has probably already started.  J P Morgan has closed a lot of short positions (last Tuesday) and soon the others will close theirs but they are risking a short squeeze.  If that happens silver spot price will explode.  Comex is having major problems etc. and gold will also lift the silver price from a ridiculous low.  So I am panic buying at the moment to get up to my first 200 ounces 😁😁

It is best to avoid panic, or doing anything in panic.

"People who know how to swim assume that means they can't drown, ... For the victim, Benjamin said, panic is the first stage of drowning."

[silenceissilver]

30 minutes ago, LawrenceChard said:

Have you got a link to Markus Krall's statement. I looked for it, but could not find it quickly.

He said it in this video but it's in German. I can't remember at what minute he said it.

30 minutes ago, LawrenceChard said:

Degussa are primarily a "producer" and refiner. As such, it is almost certain that will take production orders.

I mean the Degussa Sonne/Mond Goldhandel GmbH, the PM retailer, not the Evonik Degussa GmbH which is the refinery and now part of Umicore.

In 2010 Degussa the retailer bought the name (otherwise they are not connected apart from the fact that Degussa the retailer bought a lot of old Degussa bars) and in the same interview Markus Kralls said they are one of the biggest PM retailers in Europe.

https://de.wikipedia.org/wiki/Degussa_Sonne/Mond_Goldhandel

This company:

https://www.degussa-goldhandel.de/

30 minutes ago, LawrenceChard said:

We don't pay any commissions, and we do not run any affiliate programmes, unlike some of our competitors. While they are good in theory, they are open to abuse in practice. Also, if you looked at some of the margins we work on, you would know why.

I did'nt expect that,  it was a joke. 20.000 sounds nice but with what you earn on it, there is obviously no space for a meaningful commission.

[silverdocket]

Fill you boots if you have the spare cash I say.... If it doesn't work out you still have the metal

[LawrenceChard]

8 minutes ago, silenceissilver said:

He said it in this video but it's in German. I can't remember at what minute he said it.

I mean the Degussa Sonne/Mond Goldhandel GmbH, the PM retailer, not the Evonik Degussa GmbH which is the refinery and now part of Umicore.

In 2010 Degussa the retailer bought the name (otherwise they are not connected apart from the fact that Degussa the retailer bought a lot of old Degussa bars) and in the same interview Markus Kralls said they are one of the biggest PM retailers in Europe.

https://de.wikipedia.org/wiki/Degussa_Sonne/Mond_Goldhandel

This company:

https://www.degussa-goldhandel.de/

I did'nt expect that,  it was a joke. 20.000 sounds nice but with what you earn on it, there is obviously no space for a meaningful commission.

It seems I had never heard of one of the biggest PM retailers in Europe! you correctly worked out I was referring to "The" Degussa, the refiner.

We do quite a lot of £20K deals, but €20K deals are more unusual for us.