And for a more sensationalist view on it all: [youtube]http://www.youtube.com/watch?v=TH_VHkpXRsE[/youtube]
Just called them. The sales representative said she is waiting on management to allow them to take orders but they are out of stock and don't know when they will be back with more bars. To all the sensationalists, please relax your pants, there is still years before the shit really hits the fan. -A
Many people will now be registering at other bullion dealers that they'll buy from and continue to buy from. I think that the Perth Mint doesn't really have too much concern for getting silver into the hands of the the public, most of their metal goes overseas in big business moves I bet. lol, i still buy from them though, they make a nice product and the people are nice on the phone.
All the silver we sell goes direct to public or to distributors who sell to public. Trust me this is killing us right now, we've got all these 1000oz silver bars but limited re-barring capacity means we are leaving money on the table as we could sell far more than we are.
I thought your new bars line was meant to increase output & keep up with the demand ? There was all the hype about the new setup would meet demand blah blah . It all sounds like white noise to me .Sorry Bron you seem like a nice guy but you seldom say anything that isnt expected by a loyal employee. Have you thought about becoming a politician ?
Did anyone other than me notice that there was an almost 40-fold increase in demand from some dealers last month. If you double capacity, but demand triples .... what happens? The Hamsters at the Perth Mint are peddling as fast as they can...
40 fold increase in what dragons? i doubt there was a forty fold increase in bars .If there was where did you get that number? hearsay? Im not buying it theres always another excuse.
the last update on bar production was here http://www.perthmintbullion.com/blog/blog/11-06-30/Silver_Bullion_Bar_Production_–_Update.aspx The original blog post suggested it would be finished and up and running by july and was supposed to double production but then silver went on sale. http://www.perthmintbullion.com/blo...ng_Our_Silver_Bar_Manufacturing_Capacity.aspx
What is so complicated to melting down silver to make smaller 10 oz, 100 oz, 1 kilo pieces? US Ford could make 10,000 cars a day in the 30s from 1000s of component each plus assembled ready to roll out. What is the daily maximum capacity of the Perth Mint? Probably if the kilo silver bar would be one of the 1000s of component of the US Ford car in the 30s they could not even supply enough cars to one lager US state.
Lol yeah its complicated ...melt ....pour ....stamp ....stack . its medieval technology that the 21st century cant manage hahaha hilarious
Hmmm production capability diverted to gold bars perhaps? 40 fold increase isn't far off from what we experienced last month on a couple of days - there were some daily spikes that just blew away previous trading records.
Bron, why don't you start a Trade-In/Trade-Up program to recover the smaller bars? ie. swap 3x10oz for a 1kg, or 3x1kg bars per 100 oz bar. It costs you a few ounces on the swap, but thats the incentive to give up all my lovely shiny kilo bars to you :lol:. You get the smaller bars back which you can sell into the retail chain to meet demand (and with a better $ premium than the bigger bars). PM would have to cover freight, or organise an authorised drop-off point in each city. maybe some of your bigger dealers who have the vault space? mistered
Bron - I don't believe for a minute that PM does not have alternative contingency for rebarring. VRS x
"Alternate contingency"? They run a refinery, what are you expecting, they have a second one? I think people simply underestimate the demand for silver since the price fell in late September. Having a foot on the dealer side of the fence really shows the massive upswings in demand that the fall in spot prices produced.
Hehe.. Second refinery. Bluescope might be closing a blast furnace, but Perth mint need to build a second refinery to keep up with silver/ gold demand!
Dont know about second refinery . I dont think theyve heard of overtime or putting on another shift to meet demand employing more australians win win situation.
