I'm interested to know if anyone has backed up the truck. Product is still available on backorder for now. Most second tier dealers are flooded and aren't taking new orders. I've personally spoken to ABC about their position. They state they have heaps of silver in their refineries and they're working 24/7 to produce more bars and coins to meet demand. Current wait time is between 10th of April to the 30th. I have been unsuccessful with contacting Perth Mint - I've tried calling 15 times and the call gets disconnected after several miniutes on hold. They have updated their terms and conditions to include: Delivery information Subject to the COVID-19 Delivery Updates published on our website at: www.perthmint.com/COVID19 If this trend continues, ABC and Perth Mint may no longer offer back ordering on their website... COVID19 Could cause further delays with delivery. Perth Mint appears to be the only ones cautioning this (that I've seen)... It is possible that the mint could even be closed down in the near future due to COVID19 fears and tie up a lot of investor capital. I put the truck in reverse on Sunday and bought Bullion Now's last available kilo bars. Last night I bought: 20kgs of 1kg bars from ABC backorder. 14kgs of allocated from ABC. I've never bought allocated before now. This environment made sense to position yourself in allocated with the intention to reposition yourself in physical at another time, whether it be gold or silver. All I know is I feel safer back ordering Bullion from ABC or Perth mint than I do holding cash in the bank. I have confidence that ABC has the Bullion in their refinery for me to take delivery in the future - but I'm not sure they'll be offering back orders for much longer if everything continues the way it is or gets worse.
Oh they've got stock. They're just not willing to sell whilst the paper spot price is $20. You watch, as soon as silver bounces they will suddenly have stock to sell.
No purchases yet. Holding cash for now. We have just seen a huge shift in the AUD/USD exchange rate today. Both down and back up. I think while there is still huge unknowns the possibility for more downward movements in price is still quite high imho.
Nope. I've got enough silver. Spare cash has been going into gold for quite some time now, it will be the best performer for the foreseeable future.
^This Actually bought a small amount of Gold today. Will be purchasing small amounts regularly. Was talking to Michael from Bullion Now on the phone today. Sounded like a trading floor in the background.... Lol
Not backing up the truck on physical. Wifey watching me aside , the premiums are horrendous, 20-40%. After factoring in the premiums, it's not a lot cheaper than late 2019, so really no point. Bought 200 SLV 2 days ago. Looking at the AUD, I will buy more tonite in case the SGD goes the same way. Anyone here also buys SLV?
If you are doing an Aussie purchase, why would you? It hasn't hit bottom on the chart and with a falling dollar its not time. Besides that, what silver is their to buy? Last time I saw the Perth Mint was out of stock, so is Bullion List. Buy when the AUD in its downward trend has a spike up and the metal price is down. (Yes I know, "you wish") The real price of physical silver is not in relation to paper. The coins have huge premiums and you'll soon see the bars go through the premium roof.
That's the thing, you can still lock in the price via pre-sale/back order....for now. Don't forget that $12 USD is $3 below the cost of the primary mines to produce silver. By clicking a button you can obtain physical cheaper than those who mine it...Chart or no chart, buying now makes sense to me. Many miners won't be selling silver onto the market at these prices unless necessary - adding fuel to the situation. Bullion dealers that arent hedged effectively would care about the price. Majority of dealers want to make a sale to profit from the spread. I know the second tier dealers are being careful about what they're offering on backorder because they cannot guarantee supply or timeframes. My LCS is scrambling to find some supply just to meet a FRACTION of the demand they're seeing. This is not a locally isolated instance - this is global.
Bought 450 AG and 260 PAAS last night. Buying more tonight if prices haven't gone too far up. For physical, I bought 2 kilobars on Sat and 5 x 10 oz on Sunday. Unfortunately, I moved too slowly on Monday to get anything with reasonable premium. I guess I'll be only silver miners or SLV from now onwards.
There was a few 1oz coins available at the Perth Mint today. I've posted this fact a few times today so this will be the last. If you think the AUD will drop to 40 (I do) it "may" be an opportunity to get a bit of metal if you need a tube or two. Last time I checked they had limits for 250 coins. Price atm is about $25.82 AUD per tube of 25 delivery is however expensive. H http://www.perthmintbullion.com/au/Buy-Silver-Coins/1oz.aspx?size=18
Thanks, I tried to register and it asked for certified document. Actually, I just wanted to see the shipping costs.
Hard to back up the truck when the truck is gonna idle for a few months waiting for the back load Platinum is favourable. But still I think wait for the big nasty and then send in the truck. There is a balancing point to consider. It is still situation normal for most. It is rapidly changing though. Mine failure due to infected employees might come up. This includes everyone. Senior staff may be more at risk, with a commensurate effect on business. That leads to supply failure. It may be that things become a bit chaotic. Rare things become sought after at certain times. It might be medicine in the near future or the hope of salvation in herbals. Right now, since this is coming close to home maybe in as little as four weeks (allowing a week for incubation), there are a few other things to think about. I’d be more worried about having enough in your residence to supply yourself and those in your residence if you are ordered to self-isolate. The next thing to worry about is that cruel point in this illness where you think it’s licked and then a few days later it kicks your ass. Last thing I will be thinking about is metals at that point other than last will and testament. What I am seeing on the ground now is preparation. Get ready for the lockdown.
For Australia, expect some serious shutdowns the likes of which are happening overseas. Get the things you may need to ride it out as best you can, if you have not already done so. There is still a bit of time left before it goes boonta, but it isn’t much. I think some states will fully lockdown and most partially do it, with some regions within states closing their regional airports.
