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Perth Mint Crisis Update


OldCoin

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19 minutes ago, NewCoins said:

Does anyone think there is actually a silver shortage and it would be beneficial to start buying heavy bars and bullion coins I'm the short or medium term ?

Don't think there is a shortage. Everyone does this lean manufacturing now. It works well until one segment in the chain breaks.

All depends how quickly it's sorted out. If you want to take this angle short term maybe paper silver is the better option.

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I think I will avoid paper silver. Part of it for me is holding it. I appreciate that might not achieve my original question.

The only silver bullion I have is 3 x 10oz una bars. I buy proof coins mainly. I like picking them and feeling the weight :)

I have been eyeing up some kg bars, but have been on the fence. If there was a strong chance in short or medium gain, I may have indulged.

Edited by NewCoins
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27 minutes ago, NewCoins said:

I think I will avoid paper silver. Part of it for me is holding it. I appreciate that might not achieve my original question.

The only silver bullion I have is 3 x 10oz una bars. I buy proof coins mainly. I like picking them and feeling the weight :)

I have been eyeing up some kg bars, but have been on the fence. If there was a strong chance in short or medium gain, I may have indulged.

Me too, really like the old coins, a bit of history with them.

I am more pro stacking and physical, good solid assets. But I also don't have all my eggs in one basket. You can put money on shares for ten minutes if you like, I have a little in bp oil, just going to keep it there whilst the boat is stuck.

 

 

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9 hours ago, dwreck said:

There's more than enough digital currency floating around to buy every cheap ounce of silver not bolted down and some. Elon needs it to build cars/space ships and nvidia needs it to make more graphics cards so kids can mine buttcoins.

It's the future and we don't need silver as currency anymore because it's worthless and gold is a relic of the past. So stop buying it so the banks and ultra rich can have more for themselves to produce and sell electronics that need to be updated every couple years. They sell you electronic junk to distract you from reality.  

In reality there is a physical shortage and you all have to be lied to because it would become a huge issue for the companies building the spy devices... I mean cell phones...or run out of silver that they need to use for guidance systems in their cruise missiles to bomb countries into submission into only accepting the US dollar in exchange for oil. 

Don't be surprised if this ends up being my last post and last day on earth for speaking the truth. God bless you stackers and i hope you all have a healthy long life.

I hope it's not your last post brother. I think I got the jist of your message however the first paragraphs are a bit confusing, assuming sarcasm though. Keep speaking what you see as the truth for the greater good I will always listen and aim to do same. What is life worth if you cant. If you read a few of my posts you might know that I'm no lover of fake money whether it's Crypto or fiat, their inherent problems and ability to be manipulated and even disappear or lose all their perceived value is too vast, they have left a trail of false hope and misery over the times, and they will run out soon. Crypto was made and is beta testing to be it's replacement is my informed opinion.. What does that leave left of any intrinsic value and security. Problem is the powers that be don't want any population secure or in possession or control of their money.

10 hours ago, Bigmarc said:

I'm no expert but I wouldn't have thought dies were used to stamp micro holographic.

I would have thought the laser would put the security feature on the coin and this would be run on a separate machine. The die design may have changed but surely this would have been done in advance. To actually change a die would take minutes. They wouldn't have one machine per coin design. So they would swap dies daily. 

I think it is a long process to create a die as the artist designs it in a much larger scale. Then that size is reduced over a number of processes. 

So it's my guess that the two don't go together and the dies have to be redesigned. 

 

Well that would be logical and my guess too without being any expert, I have a good idea about general logic though and it doesnt add up but nothing does anymore in the "world"

6 hours ago, kimchi said:

Absolutely.

Absolutely, Positively Absolutely ! Based on reality !

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John Adams delivered a subscriber email this morning, here is a copy.

 

WARNING: Silver Trouble at the Perth Mint

Dear all,

 

I write to you with an urgent warning after receiving several e-mails and phone calls from Australians across the country who particularly have “synthetic” silver holdings with the Perth Mint.

 

Over the past few weeks, rumours have been circulating around the Perth Mint that they have been running short of physical silver and the evidence continues to mount by the day.

 

For example, new orders have extraordinary wait times (e.g. 20kg requiring 4 months delivery) and long standing clients who own the Perth Mint's synthetic products (unallocated or pool allocated) being denied the ability to either convert this holding to allocated or for this holding to be collected (i.e. standing for physical delivery).

 

Multiple reasons have been put forward for the observed behaviour of the Perth Mint which have yet to be confirmed.

 

Perth Mint on the other hand have provided multiple reasons why they are having issues supplying silver to the market, but global industry experts such as David Morgan (aka the silver guru) find the Perth Mint’s justifications not holding much credibility.

 

There appears to be more to this story than they are letting on.

 

What I can for certain confirm that even today, a friend of mine who didn’t believe the stories about the Perth Mint being in short supply, contacted the Perth Mint directly about his 200kg unallocated holding only to find that there is no silver available to convert his unallocated holding to allocated.

 

See the following tweet:

https://twitter.com/adamseconomics/status/1373824331717824518?s=20

 

Synthetic Gold and Silver Warning from 2020

With respect to the provision of synthetic gold and silver products, I have been publicly warning about the risks of these products for more than 9 months in a similar fashion to how I have been warning the about the bail-in (or forced confiscation) of retail deposit bank accounts.

 

These products which are offered by major bullion dealerships in Australia and around the world are little understood by retail customers and investors, especially for new entrants into the market over the past 1 to 2 years.

 

For those who have not read my June 2020 column about the dangers of synthetic gold and silver products, I would encourage you to read my column via the following link:

 

https://www.adamseconomics.com/post/beware-of-synthetic-gold-and-silver-products

 

In the Interests of the People – Exposing the Synthetic Silver Scam

Beyond my 2020 article I would strongly recommend those who have an interest in the gold and silver market to watch the latest episode of “In the Interests of the People” which was released last Friday.

 

In this show Martin North and I exposed the scam of synthetic gold and silver products which have sucked in Australians to the tune of millions of dollars. We highlight the risks of these products and the circumstances of when these risks may be realised.

 

The timing of this show couldn’t have been more relevant given what is happening in the Perth Mint.

 

To watch my latest video with Martin North, please click on the following

link:

 

https://www.youtube.com/watch?v=LcVhCWmIkZk&t=2043s

 

For those who received my newsletter from two weeks ago would have seen that I stressed the point that it is critical for those interested in acquiring physical gold and silver bullion to do appropriate research before significant funds are committed.

 

I would place understanding the risks and implications of synthetic gold and silver products at the top of the list.

 

The Tweet heard around the world!

In typical fashion, it would appear that controversy follows me where ever I go.

 

This weekend I issued a tweet about the Perth Mint situation which went viral with over 310,000 impressions on twitter. It was one of the key talking points of the silver world across the globe.

 

The tweet I issued was retweeted by Walk Street Silver as well as industry experts such as Craig Hemke, David Morgan, David Brady, Alasdair Macleod and Willem Middlekoop. The tweet can be viewed here:

 

https://twitter.com/adamseconomics/status/1373169812394844160?s=20

 

Are you concerned with your synthetic gold and silver holdings?

In the past week I have had a range of Australians (as well as some international investors) reached out to me concerned about their synthetic holdings held at the Perth Mint as well as with other bullion dealerships.

 

If you have any questions or concerns about your synthetic holdings (or synthetic products in general) and you wish to discuss your situation, please feel free to e-mail me at john@adamseconomics.com and I would be happy to contact you and discuss your questions and concerns.  

 

As Good As Gold Australia

As you would know that I am the Chief Economist for As Good As Gold Australia, South Australia’s largest bullion dealership. As a matter of principle, we have never offered synthetic products to our Australian or international clients.

 

The company’s philosophy which comes down from the company’s ownership to myself is “if you don’t hold it, you don’t own it.”

 

We believe that physical ownership of gold and silver with clearly established direct legal title is of the most critical importance to protecting your wealth.

 

After speaking with Darryl and Brian Panes this weekend, I have been assured that we have adequate supplies of physical silver (as well as gold) ready to supply the market.

 

If anyone is seeking to obtain physical gold or silver as a means of protecting their wealth against the madness of governments and central banks, please let me know. I would be happy to help.

 

Getting mentioned on Sprott Money

For those who are keeping a close eye on the precious metals market, you may be interested to know that I was mentioned by David Morgan this week on the Sprott Money Weekly Wrap-up in his discussion with Craig Hemke on the topic of silver being drained from the COMEX.

 

For those who are interested to listen to the Hemke-Morgan discussion, you can listen via the following link:

 

https://www.youtube.com/watch?v=U34Rp3n8HqQ

 

It was definitely an honour to be mentioned in dispatches between two giants of the silver world.

 

Appearing on YouTube interviews

Given the buzz in the silver world generated by the rumours circulating about the Perth Mint, I have been invited to appear on a number of YouTube shows in the coming days. So for those interested, keep a look out for me on:

 

  • Maneco64 – with Mario Innecco
  • Liberty and Finance – Dunagun Kaiser
  • Arcadia Economics – Chris Marcus

 

Meet-up in Adelaide – Wednesday, 31 March 2021?

On Wednesday, 31 March 2021 I will be in Adelaide available to meet supporters in a series of 30-minute blocks from 8am through 5pm. This is an opportunity for people to connect with me to talk everything from the Australian economy, politics, financial risk and precious metals.

 

If anyone would like to connect with me during this day, please let me know and I will see what availability I have. My schedule is filling up fast.

 

Moreover, at this stage, I am planning to return in the 3rd week of April 2021 to connect with people in Adelaide in some additional small sessions. More detail to come soon.

 

How to Follow Me?

If you haven’t yet, please feel free to follow my work either through subscribing to the ‘In the Interests of the People’ channel on YouTube or by following me on Twitter, LinkedIn or Facebook (I have a dedicated Adams Economics Facebook page).

 

I often post on social media multiple times a day where I post key updates or my thoughts on breaking events.

 

With regards to YouTube, if you wish to receive notifications of when Martin and I post a new show, make sure you following two step process:

  1. click on the bell which can be found near the notification button
  2. ensure that your YouTube settings have been enabled so that you can receive notifications.

so that your smart phone will alert you to when a new post has been published.

 

Also, given the intense level of censorship which is now taking place on social media, I have a dedicated “Adamseconomics” group on telegram which has attracted more than 1000 followers so far. If you are currently on Telegram and would like to join, feel free to join up on the group through the following link: https://t.me/AdamsEconomics

 

Goodbye for Now

This is all from me for now. If you would like to reach out and ask any questions free feel to e-mail me at john@adamseconomics.com.

 

Keep well and stay safe. I look forward to connecting with you soon.

 

Cheers,

 

John Adams

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9 hours ago, NewCoins said:

Does anyone think there is actually a silver shortage and it would be beneficial to start buying heavy bars and bullion coins I'm the short or medium term ?

It's probably a mistake to buy anything right now. Buy low, sell high. Don't buy high.

Also, the premiums for retail silver bullion are terrible, making the "high" even higher. Silver isn't usually a good investment compared to other investments. If you thought silver was going to climb soon, it would make more sense to buy allocated or paper, since you can actually realize any profits from such a climb if it happens. If you buy retail bullion, the current premiums will destroy any potential profit unless silver climbs a lot, like more than 40%. I made money last year with OneGold, anticipating the climb we saw. Lucky I guess. I wouldn't have made nearly as much on retail bullion. As an individual seller I'd also have to account for shipping unless I found a local buyer.

There isn't a shortage in the sense of less silver bullion production. The US Mint doubled its production of Silver Eagles in 2020 compared to 2019. And they're producing a ton of them this year. I'm surprised they had enough silver stock, but apparently that wasn't the constraint. There's a shortage in the sense of retail demand exceeding supply, or at least moving the curve with increased prices/premiums.

Edited by Bimetallic
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On 27/03/2021 at 14:55, Bigmarc said:

Hello 

I'm trying to find a solid source of info on what is happening in the mints. I hear rumours about Perth, Mexico and now the USA mints. Is there any trusted news outlets that can keep me updated.

 

CoinWeek and Coin World are good sources for US and Canadian mints, production, new releases, etc.

There isn't much mystery for the US Mint. They've been producing Silver Eagles like mad, 30 million ounces in 2020, double what they did in 2019. They'll probably exceed 40 million in 2021.

I'm surprised that they had enough silver to ramp up that much, even with the brief shutdown. They're legally required to source only American silver I think, like from Sunshine Minting in Idaho, one of their major suppliers of silver blanks.

So there's not a supply shortage for them. I don't understand conspiracies about silver mining or wholesale supply. There's hardly any money in silver, so all these goofy theories never made much sense to me. In a huge year, the US Mint earned maybe $660 million in revenue last year on Silver Eagles, if we assume an average silver spot price of $20. They charge their Approved Purchasers $2.00 per coin over spot for Silver Eagles, so I'm spitballing $22.00 per coin. Their entire annual revenue was less than Apple made in one week last quarter. Companies like Apple could buy and sell the entire silver bullion industry and not even know about it...

As far as their brief shutdown last year early in the pandemic, I've never seen that reported as anything but pandemic related. It definitely wasn't for changing dies or equipment to produce 2021 Eagles – they would never commence 2021 Eagle production in February or March of 2020... Bullion isn't like cars – they don't introduce a "Year X" product early in Year X-1. We don't normally get a given year's Eagles until January of the marked year.

In any case, they dramatically increased production, so there's no apparent shortage in their supply of raw silver from Sunshine Minting and whomever else. I expected them to run out of silver, but they didn't. CoinWeek has a good insider scoop here, where they report on the US Mint's conference call with its Authorized Purchasers: https://coinweek.com/bullion-report/us-mint-making-changes-to-meet-exploding-demand-for-american-gold-silver-eagles/

Other good sources are dealers, especially the ones that publish blogs or chime in on forums like this one or Reddit's Silverbugs. JM Bullion is one I remember chiming in when the retail shortages first dug in. And BOLD Precious Metals too. And SD Bullion has a very active YouTube channel. Stansberry Research too, the company Daniela Cambone left Kitco for – they have a big YouTube channel.

Edited by Bimetallic
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1 hour ago, Bimetallic said:

It's probably a mistake to buy anything right now. Buy low, sell high. Don't buy high.

Also, the premiums for retail silver bullion are terrible, making the "high" even higher. Silver isn't usually a good investment compared to other investments. If you thought silver was going to climb soon, it would make more sense to buy allocated or paper, since you can actually realize any profits from such a climb if it happens. If you buy retail bullion, the current premiums will destroy any potential profit unless silver climbs a lot, like more than 40%. I made money last year with OneGold, anticipating the climb we saw. Lucky I guess. I wouldn't have made nearly as much on retail bullion. As an individual seller I'd also have to account for shipping unless I found a local buyer.

There isn't a shortage in the sense of less silver bullion production. The US Mint doubled its production of Silver Eagles in 2020 compared to 2019. And they're producing a ton of them this year. I'm surprised they had enough silver stock, but apparently that wasn't the constraint. There's a shortage in the sense of retail demand exceeding supply, or at least moving the curve with increased prices/premiums.

 

1 hour ago, Bimetallic said:

CoinWeek and Coin World are good sources for US and Canadian mints, production, new releases, etc.

There isn't much mystery for the US Mint. They've been producing Silver Eagles like mad, 30 million ounces in 2020, double what they did in 2019. They'll probably exceed 40 million in 2021.

I'm surprised that they had enough silver to ramp up that much, even with the brief shutdown. They're legally required to source only American silver I think, like from Sunshine Minting in Idaho, one of their major suppliers of silver blanks.

So there's not a supply shortage for them. I don't understand conspiracies about silver mining or wholesale supply. There's hardly any money in silver, so all these goofy theories never made much sense to me. In a huge year, the US Mint earned maybe $660 million in revenue last year on Silver Eagles, if we assume an average silver spot price of $20. They charge their Approved Purchasers $2.00 per coin over spot for Silver Eagles, so I'm spitballing $22.00 per coin. Their entire annual revenue was less than Apple made in one week last quarter. Companies like Apple could buy and sell the entire silver bullion industry and not even know about it...

As far as their brief shutdown last year early in the pandemic, I've never seen that reported as anything but pandemic related. It definitely wasn't for changing dies or equipment to produce 2021 Eagles – they would never commence 2021 Eagle production in February or March of 2020... Bullion isn't like cars – they don't introduce a "Year X" product early in Year X-1. We don't normally get a given year's Eagles until January of the marked year.

In any case, they dramatically increased production, so there's no apparent shortage in their supply of raw silver from Sunshine Minting and whomever else. I expected them to run out of silver, but they didn't. CoinWeek has a good insider scoop here, where they report on the US Mint's conference call with its Authorized Purchasers: https://coinweek.com/bullion-report/us-mint-making-changes-to-meet-exploding-demand-for-american-gold-silver-eagles/

Other good sources are dealers, especially the ones that publish blogs or chime in on forums like this one or Reddit's Silverbugs. JM Bullion is one I remember chiming in when the retail shortages first dug in. And BOLD Precious Metals too. And SD Bullion has a very active YouTube channel. Stansberry Research too, the company Daniela Cambone left Kitco for – they have a big YouTube channel.

"It's probably a mistake to buy anything right now. Buy low, sell high. Don't buy high."

Yes in theory buy low sell high, not everybody can get the dips like we saw 12 months ago. 

There's 2 schools of thought wait and HOPE for a pull back, or BUY in before the run, while things are sideways, set a window of entry.

Now as the market is experiencing cracks and the price is strong sideways support, that bottom may be in, but without the crystal ball it's a case of - If you want to buy buy as best as you can, I'm still buying for a long position, I was buying all the way from the recent run over the last 12 months, and I would even consider a wager that it will not dump without a black swan, and without that in the near term I don't think it will do anything other than gain, of course this all depends of sentiment in the market.

You see if you go into the ETF's you do nothing to help the price grow, that's just the problem that has made this commodity a so called bad investment, which is way more than a commodity and has most uses of any other commodity. Investing in physical is nothing like the ETF investing which I assume you refer to, but hey 35-50 percent in 2020 is not a bad investment if you executed the trade to perfection, and that move to me is just a earth tremor to the big move to come, a sign if you will.

You shouldn't buy silver physical for the short term anyway it's not an investment for the anxious or the weak handed people who cant wait, but of the other investments out there it would have less long term risk and considering the market manipulation is still in tact it's a cracking good buy of the century for the long term.

Yes the premiums are a bother but this represents the current price considering the supply issues, the spread of the premium is a good thing to consider if your not thinking long, the answer is not paper silver, in that case the answer may be gold as premiums are lower, or buy from Australia or Canada or somewhere where the premiums are not too bad, if your order is big enough to make it worthwhile. Buys can be found privately closer to spot, some people will still be selling to buy Crypto's, which they may regret one day as I have.

We won't know the amount of Silver Eagles made in 2021 till this time next year maybe, I'd ask then can you confirm they are up and running and their issues at the US Mint are sorted.

And what price would you call the bottom in the next 12 months for Silver, what price spot is your signal. I think we are there and while I don't call being realistic and trying to join the dots of what is and may be afoot as a conspiracy theory, whilst conspiracy facts abound and get blown off as conspiracy theories is so common now, so it will take more than that to convince me otherwise as everything I see and a strong sense of intuition, and a long time waiting for this time, I think something is happening and time will tell, all I can say is there's some concerning things happening for a good while that are strong indicators. And of course I hope we all make the wise decisions that give us maximum benefit of what may be about to happen.

The second train of thought is, get in while you can cause when it breaks the manipulation and takes off and the every man and his dog want on the moonshot rocket ride, there wont be an oz of silver to be had at any sane prices, the sanest price you may ever see is today's prices and premiums, or maybe things settle a bit for a while but I don't think you will see a sell off of physical and I think you will see a lot more demand on supply.

Bear in mind 50% world supply goes to industry, and the remaining jewelry and bullion, with the short manipulation scam becoming more exposed more and more demand will be placed onto physical bullion supply, and I'll be very surprised if that doesn't make price break eventuality

If and when it does break the suppression of the short selling on Comex, and there is a huge migration into all metals which there already is growth in, and hedge fund managers get onboard, we are likely to see the growth it deserves.

Your posts also make me question why we invest. To back and stack something you believe in because it's sound and based on principal, not necessarily for profit but as a hedge against the scam of fiat debt based money inflation, and to be exposed to the opportunity of a lifetime if silver revalues, is my reason.

Gold should not be overlooked in this case too, and when SHTF all the elite are in Gold, property and less cash as liquidity. This stimulus c**p is the reason everyone wants to dump their $ and treasury bonds, it's not sound it's increasing the tension on the rubber band being stretched too far, and it will snap sooner too the more money they print. The main point is it will snap and nobody will know what hit them, then being well positioned will mean everything, and it will be too late to do anything.

The terms good and bad in terms of silver investment don't tell the whole story. Maybe seemingly bad if you base your logic on today, but it's sensible to think of tomorrow, next year, 5 years, 10 and so on. Physical PM's are a sensible place to secure your savings today, an investment for the future, and a solid one at that.

So lastly, if silvers not the best investment, then what is?

Interesting discussion, some of my thought's anyway.

Edited by OldCoin
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What's all this talk about the US Mint being shut down? Did I miss a news story? I'm not aware of any shutdown. They shut down West Point briefly last year, but they ended up making twice as many Eagles as they did in 2019 anyway. Why are people saying the US Mint is shut down right now?

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12 minutes ago, Bimetallic said:

What's all this talk about the US Mint being shut down? Did I miss a news story? I'm not aware of any shutdown. They shut down West Point briefly last year, but they ended up making twice as many Eagles as they did in 2019 anyway. Why are people saying the US Mint is shut down right now?

OK I'm listening. I'm forming my analysis based on whatever info I can get from market analysts and those involved in the physical bullion market, and sure with a grain of salt but I follow the best info I can get. The rumor about US Mint came from Miles Franklin CEO Andy Schectman, in a few interviews this is one. Anyway I looked for more info on based on your comment, and I can't see any articles/reports officially however I haven't spent much time or gone to US Mint site, even if it's only a rumor it's in the same trend as other more conformable info coming out about supply and strange closures etc. I'll be watching closely.
 

This was around 3 weeks ago.

 

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5 hours ago, Bimetallic said:

CoinWeek and Coin World are good sources for US and Canadian mints, production, new releases, etc.

There isn't much mystery for the US Mint. They've been producing Silver Eagles like mad, 30 million ounces in 2020, double what they did in 2019. They'll probably exceed 40 million in 2021.

I'm surprised that they had enough silver to ramp up that much, even with the brief shutdown. They're legally required to source only American silver I think, like from Sunshine Minting in Idaho, one of their major suppliers of silver blanks.

So there's not a supply shortage for them. I don't understand conspiracies about silver mining or wholesale supply. There's hardly any money in silver, so all these goofy theories never made much sense to me. In a huge year, the US Mint earned maybe $660 million in revenue last year on Silver Eagles, if we assume an average silver spot price of $20. They charge their Approved Purchasers $2.00 per coin over spot for Silver Eagles, so I'm spitballing $22.00 per coin. Their entire annual revenue was less than Apple made in one week last quarter. Companies like Apple could buy and sell the entire silver bullion industry and not even know about it...

As far as their brief shutdown last year early in the pandemic, I've never seen that reported as anything but pandemic related. It definitely wasn't for changing dies or equipment to produce 2021 Eagles – they would never commence 2021 Eagle production in February or March of 2020... Bullion isn't like cars – they don't introduce a "Year X" product early in Year X-1. We don't normally get a given year's Eagles until January of the marked year.

In any case, they dramatically increased production, so there's no apparent shortage in their supply of raw silver from Sunshine Minting and whomever else. I expected them to run out of silver, but they didn't. CoinWeek has a good insider scoop here, where they report on the US Mint's conference call with its Authorized Purchasers: https://coinweek.com/bullion-report/us-mint-making-changes-to-meet-exploding-demand-for-american-gold-silver-eagles/

Other good sources are dealers, especially the ones that publish blogs or chime in on forums like this one or Reddit's Silverbugs. JM Bullion is one I remember chiming in when the retail shortages first dug in. And BOLD Precious Metals too. And SD Bullion has a very active YouTube channel. Stansberry Research too, the company Daniela Cambone left Kitco for – they have a big YouTube channel.

Great content, thank you.

I have read the article from coin week. The fact that companies are making it safer for employees makes sense as I can see it happening in all industries. Unless you can get it spot on it is almost impossible to run at full capacity. 

Pretty much as I expected, they can't manufacture gold and silver at the same time so they are probably prioritizing what has the largest demand.

I have had some experience with working with American companies and yes they have a list a mile long of county's they are not allowed to deal with. This is why they buy up European companies and sell their product through them. So if there was a silver shortage I think it would only come from the supplier making it covid safe like the rest of us. 

The problem we have there seems to be a vicious circle where various industries in this sector are using fear to pedal their product. People are scared of the pandemic and hyper inflation, people are buying it all (at a hefty premium) and not selling. "Some dealers" are feeding off this. 

If you look at the balance sheet after this is all over, I bet that the shortfall from silver in the industrial industries would have been made up in the bullion market. Just to keep things nice and even.

 

 

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1 hour ago, Bigmarc said:

Great content, thank you.

I have read the article from coin week. The fact that companies are making it safer for employees makes sense as I can see it happening in all industries. Unless you can get it spot on it is almost impossible to run at full capacity. 

Pretty much as I expected, they can't manufacture gold and silver at the same time so they are probably prioritizing what has the largest demand.

I have had some experience with working with American companies and yes they have a list a mile long of county's they are not allowed to deal with. This is why they buy up European companies and sell their product through them. So if there was a silver shortage I think it would only come from the supplier making it covid safe like the rest of us. 

The problem we have there seems to be a vicious circle where various industries in this sector are using fear to pedal their product. People are scared of the pandemic and hyper inflation, people are buying it all (at a hefty premium) and not selling. "Some dealers" are feeding off this. 

If you look at the balance sheet after this is all over, I bet that the shortfall from silver in the industrial industries would have been made up in the bullion market. Just to keep things nice and even.

 

 

Maybe the dealers are capitalizing on the current market somewhat but there is also the fact that product has been tight and it can be difficult running a business where the product demand exceeds supply. So the question is why are people not selling, well price and most the weak hands are already out or bought at the top over the last year.

A bet hey, well we will have to see how things pan out. I agree the financial system implosion through stimulus has everyone scared and so it should, there's no future in the $. Is there?

So if were all being played and silver has no future then were all doomed LOL What better investments are there with the moral value Silver/Gold have, they are monetary stores of value for 5000 years, so people say Silver is not the best investment what is? And how does it's risk compare, and what is the intention in the investor, get rich quick or to diversify portfolio and hedge hyper inflation over the long term. 

Silvers time will come if we're not on the cusp of it? I think there's more to this current market developments than some would like to admit, but that's OK we will see what happens.

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10 minutes ago, OldCoin said:

Maybe the dealers are capitalizing on the current market somewhat but there is also the fact that product has been tight and it can be difficult running a business where the product demand exceeds supply. So the question is why are people not selling, well price and most the weak hands are already out or bought at the top over the last year.

A bet hey, well we will have to see how things pan out. I agree the financial system implosion through stimulus has everyone scared and so it should, there's no future in the $. Is there?

So if were all being played and silver has no future then were all doomed LOL What better investments are there with the moral value Silver/Gold have, they are monetary stores of value for 5000 years, so people say Silver is not the best investment what is? And how does it's risk compare, and what is the intention in the investor, get rich quick or to diversify portfolio and hedge hyper inflation over the long term. 

Silvers time will come if we're not on the cusp of it? I think there's more to this current market developments than some would like to admit, but that's OK we will see what happens.

Everyone is trying to capitalise in this market. I hold silver because it is a easy solid asset to have. I hold it because it has been around 5000 years. It's a good saving mechanism that's not fiat. I can't exactly walk in to a kebab shop and spend my silver.

I just don't like meeting trouble head on. I like to see all views from every angle. Helps us gain the bigger picture.

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2 minutes ago, Bigmarc said:

Everyone is trying to capitalise in this market. I hold silver because it is a easy solid asset to have. I hold it because it has been around 5000 years. It's a good saving mechanism that's not fiat. I can't exactly walk in to a kebab shop and spend my silver.

I just don't like meeting trouble head on. I like to see all views from every angle. Helps us gain the bigger picture.

Absolutely, couldn't agree more. It's painful but it could be worse if price wasn't holding up as it is. I'm buying whatever I can and even putting other things off to secure what I can afford, hope I don't regret but I know what the worst can be watching and owning silver for 18 years and watching the market daily. Hey what commodity is trading at a fraction of it's 1980's high, only Silver everything else is trading many times higher.

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Highly unlikely there's any material silver "crisis" in Australia, imo. The Mint and dealers are happy with people eagerly paying the premiums, though. 

There's nothing of this sort of "disaster" mentality on Aussie stacker forums - which essentially should be the ones with front row seats.

The whole aim of practical politics is to keep the populace alarmed (and hence clamorous to be led to safety) by menacing it with an endless series of hobgoblins, all of them imaginary. - H.L. Mencken

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Bix Weirs take on it.

For all his seemingly wildish price predictions, he does put up some rationale for the way things happen.

What I don’t get is why people store with the mint anyway, other than security, in which case there’s got to be other safe forms of storage?

 

Edited by ZigZag
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From my point of view, I don't think there is a silver shortage. Now I'm not knocking silver or stacking in any way. I love silver as much as the next person on here but I am looking at it from a different perspective perhaps.

To me a shortage should be 'global' (which could be inferred as worldwide, but also as just everywhere in general - this will hopefully make more sense below).

Think back to the toilet roll shortage back in 2020, couldn't find them for love nor money, everyone fighting over the same things, it wasn't one brand or one type, or one shop's stock, it was just everywhere, even online.

To me this kind of scenario would be indicative of a real silver shortage. So sure maybe certain mints/retailers or items are short. But I can go on eBay any day of any week and purchase silver, be that bullion coins, bars or antiques. Sure the prices for some items have gone up, maybe beyond what they are really worth, but the silver is still available. So it's not rare.

Now when you find sites like eBay have little or no silver available, and all the coin shops are out of stock and there's little to nothing in jewellers, then you know you have a real shortage. Once the secondary markets run out, that's the real barometer.

Just my two cents.

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Good way of looking at it Sids. 

I also think people are holding on to there silver more. This time last year there seemed to be more of it about. I would have a vast choice of pre 1920s currently bits a bit slim pickings.

 

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4 hours ago, SidS said:

From my point of view, I don't think there is a silver shortage. Now I'm not knocking silver or stacking in any way. I love silver as much as the next person on here but I am looking at it from a different perspective perhaps.

To me a shortage should be 'global' (which could be inferred as worldwide, but also as just everywhere in general - this will hopefully make more sense below).

Think back to the toilet roll shortage back in 2020, couldn't find them for love nor money, everyone fighting over the same things, it wasn't one brand or one type, or one shop's stock, it was just everywhere, even online.

To me this kind of scenario would be indicative of a real silver shortage. So sure maybe certain mints/retailers or items are short. But I can go on eBay any day of any week and purchase silver, be that bullion coins, bars or antiques. Sure the prices for some items have gone up, maybe beyond what they are really worth, but the silver is still available. So it's not rare.

Now when you find sites like eBay have little or no silver available, and all the coin shops are out of stock and there's little to nothing in jewellers, then you know you have a real shortage. Once the secondary markets run out, that's the real barometer.

Just my two cents.

I was thinking the exact same thing in relation to bog roll earlier just couldn't make it make sense 

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10 hours ago, dicker said:

that's such a flippant response by the Perth mint, referring to our fellow stackers as 'Keyboard Warriors".

the same thing happened at the mint in 2011.

Their business model is foolish - it involves using customers unallocated metal for their daily production. Given the increased demand over the past month (from keyboard warriors or otherwise), all that metal has been sold, and they have to replace it at cost. Last summer they made a big deal about flying metal over to the Comex - now they will have to try and get that back. 

In the photo supplied by the mint itself, the amount of silver looks sparse, and at least one of the keyboard warriors over at WSB has raised doubts over the authenticity of the photo.

Whether or not there is a silver shortage, or whether Perth has it in whatever form, there have been multiple reports of it failing to meet the promised 10 day delivery timeframe for unallocated silver. That looks like a default to me.

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