$35 - $50/ oz AUD Ag?

Discussion in 'Silver Coins' started by Krakked789, May 19, 2020.

  1. Krakked789

    Krakked789 Active Member

    Joined:
    Apr 12, 2016
    Messages:
    276
    Likes Received:
    216
    Trophy Points:
    43
    Location:
    Melbourne
    I just had a look around and several Aussie sites are selling silver for over $40 an ounce. Some games going on?
     
  2. Jason1

    Jason1 Well-Known Member

    Joined:
    Aug 9, 2019
    Messages:
    552
    Likes Received:
    560
    Trophy Points:
    93
    Location:
    Qld
    just taking advantage of lack of supply due to covid. I guess there are some idiots out there paying it, lol
     
    wrcmad, Holdfast and Krakked789 like this.
  3. Krakked789

    Krakked789 Active Member

    Joined:
    Apr 12, 2016
    Messages:
    276
    Likes Received:
    216
    Trophy Points:
    43
    Location:
    Melbourne
    Someone else suggested the lack of supply was artificial and that the dealers were just waiting to spring high prices on the public.
     
    STKR likes this.
  4. Aurora et luna

    Aurora et luna Well-Known Member Silver Stacker

    Joined:
    Jul 1, 2009
    Messages:
    6,640
    Likes Received:
    2,494
    Trophy Points:
    113
    Location:
    Sydney
    You were misinformed!
    I would very much doubt the average dealer has more than a few hundred Kooks, Koalas, ASE and Maples in their inventory.
    With the huge demand for bars, coin production has been curtailed as its too labour intensive.
    Even with the high prices that dealers are currently charging, very few members here are taking advantage of the situation. There really isn't a lot of product for sale on this forum!
    I think $36 is the sweet spot for 1 oz coins. A member sold his Kooks for $36 each and they were snapped up very quickly.
     
    hiho, Krakked789 and Holdfast like this.
  5. Holdfast

    Holdfast Well-Known Member Silver Stacker

    Joined:
    Oct 15, 2009
    Messages:
    9,486
    Likes Received:
    714
    Trophy Points:
    113
    Location:
    Australia
    Everyone has limits on their accounts. Very low limits.
     
  6. heartastack

    heartastack Well-Known Member Silver Stacker

    Joined:
    Sep 2, 2010
    Messages:
    1,002
    Likes Received:
    424
    Trophy Points:
    83
    Location:
    Idaho


    did not expect a plug for silver from these guys. Things are definitely heating up. There will be more ears to the ground this bull run.
     
    66rounds, Krakked789, STKR and 3 others like this.
  7. Aurora et luna

    Aurora et luna Well-Known Member Silver Stacker

    Joined:
    Jul 1, 2009
    Messages:
    6,640
    Likes Received:
    2,494
    Trophy Points:
    113
    Location:
    Sydney
    I was shocked to learn from a dealer, his entire monthly allocation was a monster box of kangaroos
     
  8. Holdfast

    Holdfast Well-Known Member Silver Stacker

    Joined:
    Oct 15, 2009
    Messages:
    9,486
    Likes Received:
    714
    Trophy Points:
    113
    Location:
    Australia
    He was lucky because they locked it at 250 not long after March 20
     
    66rounds, STKR, Jason1 and 1 other person like this.
  9. Holdfast

    Holdfast Well-Known Member Silver Stacker

    Joined:
    Oct 15, 2009
    Messages:
    9,486
    Likes Received:
    714
    Trophy Points:
    113
    Location:
    Australia
    Unfortunately, with low allocations for dealers, we could find some business in trouble, perhaps this is the cause of additional premiums as well as the lack of supply.
    Some folk are paying over 40> on ebay but who is going to sell cheaper when eBay and PayPal fees are 13% of the sell price and then the free postage which isn't free and then getting the
    coins sent from Western Australia to the East coast, the postage is $17.50 per kilo or part of then insurance; then wait for the order to be processed and delivered.
    Then there's the added cost of sitting on a computer all day, or sitting on a phone all day just to be lucky if the stock a bloke wants becomes available.
    The 2oz Kookaburra Mother And Baby coin has limits; there's no 2oz tubes available and single coins are down to only 10 coins as an example. 250 coin max for silver roos but no more etc etc.
    And of course we've seen the price of silver jump madly since March, so...................

    But, things will improve, COVID will disappear, planes will fly, demand will drop, and silver will bottom to $8USD and the Aussie dollar will rebound to be on par with the USD.:eek::D
     
  10. Aurora et luna

    Aurora et luna Well-Known Member Silver Stacker

    Joined:
    Jul 1, 2009
    Messages:
    6,640
    Likes Received:
    2,494
    Trophy Points:
    113
    Location:
    Sydney
    But, things will improve, COVID will disappear, planes will fly, demand will drop, and silver will bottom to $8USD and the Aussie dollar will rebound to be on par with the USD

    ∆∆
    Sounds credible to me!:p
     
  11. Aurora et luna

    Aurora et luna Well-Known Member Silver Stacker

    Joined:
    Jul 1, 2009
    Messages:
    6,640
    Likes Received:
    2,494
    Trophy Points:
    113
    Location:
    Sydney
    My bad, you are right!
    Just spoke to the dealer and his actual allocation is 250 coins not 500!
    Buyers galore with no product to sell; that is the lot of a bullion dealer nowadays.
     
    Krakked789 and Holdfast like this.
  12. Krakked789

    Krakked789 Active Member

    Joined:
    Apr 12, 2016
    Messages:
    276
    Likes Received:
    216
    Trophy Points:
    43
    Location:
    Melbourne
    Will Santa bring me a Ferrari too?
     
  13. sammysilver

    sammysilver Well-Known Member Silver Stacker

    Joined:
    Apr 7, 2011
    Messages:
    6,416
    Likes Received:
    1,303
    Trophy Points:
    113
    Location:
    Sydney
    Guys, a monster box of Roos is 250!
     
    Aurora et luna likes this.
  14. STKR

    STKR Well-Known Member Silver Stacker

    Joined:
    Aug 19, 2019
    Messages:
    656
    Likes Received:
    1,012
    Trophy Points:
    93
    ABC now have their Krugerrands listed as BUY NOW.

    Screenshot_2020-05-20-09-58-32-12.png
     
  15. Aurora et luna

    Aurora et luna Well-Known Member Silver Stacker

    Joined:
    Jul 1, 2009
    Messages:
    6,640
    Likes Received:
    2,494
    Trophy Points:
    113
    Location:
    Sydney
    Won't last long at those prices.
     
    Krakked789, Holdfast and STKR like this.
  16. Krakked789

    Krakked789 Active Member

    Joined:
    Apr 12, 2016
    Messages:
    276
    Likes Received:
    216
    Trophy Points:
    43
    Location:
    Melbourne
    Get ready for the "second wave". Was it Nixon who said that people won't believe it unless they see it on TV...?
     
    Holdfast likes this.
  17. mongrelmaple

    mongrelmaple Well-Known Member Silver Stacker

    Joined:
    May 19, 2018
    Messages:
    510
    Likes Received:
    583
    Trophy Points:
    93
    Location:
    Brisbane
    Thats all good, but ABC have indefinite delivery delays at the moment, even on stock that’s available in store. So unless you can pick it up, your waiting a fair while for it. I’ve been waiting 3 weeks for a gold maple that was in stock and have no date set for delivery due to the issues with their courier.
     
  18. Oddjob

    Oddjob Well-Known Member Silver Stacker

    Joined:
    Aug 19, 2018
    Messages:
    3,504
    Likes Received:
    3,955
    Trophy Points:
    113
    Location:
    Oz
    From the ABC web site.
    -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

    Secure Delivery To Your Door
    We have clients all over the world, so we understand the importance of a delivery service which can get your investments to you quickly and securely.

    We send all parcels within a few business days after your payment clears. In most cases, your parcel will be received within 2 business days after being dispatched. If paying by credit card for your first purchase with ABC Bullion, the parcel will be held for up to 5 business days before shipping, then moving forward you will have normal dispatch times.

    Parcels are delivered straight to your door by secure courier, and any person who is available at the nominated delivery address will be able to sign for it. If no one is available to sign for the parcel, the courier will leave a note and the package will be taken to the nearest post office or depot for you to collect in your own time.

    Please note that for security reasons, ABC Bullion does not deliver to postal service parcel lockers or virtual office suites.
    ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

    There's no mention about delivery delays on their web site, thus I smell BS coming from ABC. Given Maples are a pre-sale item on the ABC web site now with a mid June 2020 delivery date, I suspect they either sold it to someone else who walked in or didn't have any in the first place. Regardless they don't any now, thus me thinks you'll be waiting until their next shipment arrives.

    Piss poor form from ABC. I'd be sending ABC a formal letter of demand for the Maple to handed over in 24 hours given you have already paid for it and ABC never said there would be a delay when you purchased it (I assume that's correct?). If they can't arrange for secure courier, doesn't say much for their mgmt either let alone customer service.
     
    Aurora et luna likes this.
  19. mongrelmaple

    mongrelmaple Well-Known Member Silver Stacker

    Joined:
    May 19, 2018
    Messages:
    510
    Likes Received:
    583
    Trophy Points:
    93
    Location:
    Brisbane
    @Oddjob I spoke with Janie Simpson, their client services manager last week about it.

    According to ABC, the reason for the delay is because Australia Post can’t do secure Signature on Delivery at the moment because of Covid, so they initially switched couriers to Toll Priority. The Toll systems were hacked over a week ago for a BTC ransom, and the matter is still unresolved there. So they now can’t use Toll, and have no other options available that meet the requirements for their insurance.
    Until those matters are resolved, ABC won’t be sending any bullion via post. Those comments regarding Toll suffering a cyber attack are also confirmed by Janie herself in a post in another Australian stacking group.
    Whilst I understand the importance of having secure, insured delivery, what upset me is that none of this was communicated to me from them, and I had to make more than one enquiry to get the information from them.

    Edit: removed the name of the group. Send me a DM if you’d like to know what this group is/relevant screenshots.
     
    Last edited: May 20, 2020
    66rounds likes this.
  20. Aurora et luna

    Aurora et luna Well-Known Member Silver Stacker

    Joined:
    Jul 1, 2009
    Messages:
    6,640
    Likes Received:
    2,494
    Trophy Points:
    113
    Location:
    Sydney
    There are a lot of new buyers who assume that if they had the cash, they can just walk in and take instant delivery.
    A guy I know wanted to make a decent size purchase and he thought that all he had to do was to give the dealer a deposit and pay the balance when he picked up the bullion. He was shocked to discover it doesn't work that way and that he had to fork over the full payment. When you give someone hundreds of thousands of dollars without a firm date for delivery, expect to have a few sleepless nights.
     
    heartastack likes this.

Share This Page