I hope Perth Mint have their supply problem sorted out next week , i intend to take a drive and do some purchasing. Would be a terrible waste all the time i spent convincing the wife to let me buy more silver only to be told they have none. Save me a few bars please.
Anyone else has the feeling that all world larger government run mints capacity is kept on a certain limited level? We frequently hear shortages from all of them in different times. Looks to me if the US Canadian Austrian and Perth Mint capacity would all be doubled and investors could get their metal instantly all the time from all of them that would cause supply shortage problems from the miners time to time. After all why cannot I even order some of the items if pay now and they can hedge all orders? All I want is lock in the price now, delivery time not important.
Isn't the point there that'd you'd turn to paper trading? I haven't been in the game long, but I feel that there's certain tradeoff's you have to accept when buying physical.
Yes, that's why they bought Matthey out (or AGR back to be precise) - do you not remember? At the time the deal was (so PM say) intended to prevent exactly this situation - that's extra capacity of anything up to 400 tones per year mi'laddo... Are they telling us that this year's output is 400 tonnes up on last year's? I doubt it - but whatever the case this kind of cock-up is (or should be I hope) bloody embarrassing to PM... Anyhow Newmont used to get all their refining done thru the Matthey facility as was - Because this is a national interest situation why on earth can't PM sub-out to Melbourne on silver or gold? http://goldchat.blogspot.com/2010/02/perth-mint-to-acquire-full-ownership-of.html VRS x
I'm guessing that it doesn't take too long to pour some liquid into a mold. If the PM had people working 24/7 pouring bars they'd easily be able to supply all of their Australian customers 100% of the time. Plus it would be profitable for them and create some new night shift jobs for people.
Is the story any different with mints around the world? (serious question) How are they coping with the orders? Anyone know?
I love the way we're all second guessing how a facility that no-one on this board (with the exception of maybe 2 or 3 lurking mint employees) have ever stepped foot inside of should be run properly. Lack of bar availability is frustrating though.
By the way... Oldie but a goodie given current focus on shorters and this apparent shortfall in production/supply... Makes ya think eh lol?!? http://goldchat.blogspot.com/2010/02/perth-mint-to-acquire-full-ownership-of.html VRS x
Yes mate - that's right - I also haven't stepped inside Fort Knox, but I don't need to do that to know that a. They don't have the pm's they say they have or b. That even Congress can't get a look-in... so what makes you or me so special to deserve such an insight? Nothing. Nish. Nada mate, that's what... We're told only what they want us to know - and if you think otherwise I'll have some of what you're smokin' lol! VRS x
Did they, how would anybody know that demand would increase 40 fold How easy is it to find people to do the work at the mint You dont just increase production overnight
Yes we are Pelican - the piece was only an historical one which illustrates the shuffling of inventory required to maintain production - the unallocated info is just that - we're talking about inventory not unallocated so physical rather than any cutting out the middle man at times of a squeeze & buying ounce-for-ounce at spot to refill - However I do take your point - it's just odd that rebarring's quoted as the problem, not the supply of metal... which if that's the case we have nothing to worry about do we (in light of Bron's statement that 'we have all these 400oz bars' etc)? Great for me lol! VRS x
Hey boss i dont think it has anything to do with the refinery brons earlier post said they had plenty of 1000 oz bars so its just the pouring of them thats the problem :/
I think the simple solution is just to give people night shift work and keep the factory working 24/7.
Refinery is where the bar fabrication operations are - to my knowledge anyway. Picture a giant pizza oven with bar molds full of measured shot being melted as they pass through.
