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Discussion in 'Commercial Trading (Public)' started by Bullion Now, Aug 22, 2019.

  1. shinymetal

    shinymetal Well-Known Member

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    In your opinion, if ONE person with an inner suburban house in Melbourne or Sydney sold up and wanted to put that money, say an even million into silver. (about 38,500 ounces at current price.. Do you think there's enough silver in Australia in the retail market for someone to buy that much in low premium or even perthmint bars?
    I've noticed there hasn't been much coming into the big dealers from the private US mints for quite a while now.
     
  2. SilverDJ

    SilverDJ Well-Known Member

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    https://www.perthmint.com/documents/Brochures/2192 Perth Mint AR 2018.V4.no.sig.pdf

    Perth Mint has produced 818M ounces of silver since 1987. That's an average of 25M ounces a year, so 38,500 ounces would be only 0.15% of Perth Mints output, let alone the other producers like ABC bullion.
     
  3. alor

    alor Well-Known Member Silver Stacker

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    most likely he has to come back to collect them
    its just 38 bars :cool:
     
  4. shinymetal

    shinymetal Well-Known Member

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    Fair point, But I imagine a fair bit of that 25 million ounces goes to industrial uses or sold internationally, they also produce blanks for different mints all around the world. I wonder how much or it ends up in the Australian retail market?
     
  5. SilverDJ

    SilverDJ Well-Known Member

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    That's just bullion and numismatic coins, but yes, includes international.
    I doubt you could buy 38,500 ounces off the shelf retail, but I'm sure Perth Mint would take your order and start the presses for you right away.
    I wonder if there any rich bastards who put in physical orders like this?
    If you had a few hundred mil you'd do it just for kicks

    [​IMG]
     
  6. Bullion Now

    Bullion Now Well-Known Member Commercial Member

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    JOHNLGALT and 66rounds like this.

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