Is the Perth Mint out of silver?

Discussion in 'Silver' started by mskfie, Dec 3, 2010.

  1. mskfie

    mskfie New Member

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  2. Forge

    Forge Member

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    Big difference between 'out of silver' and being out of 1kg and 10oz bars...

    And.. the world's oldest mint is the Mexican one. Australia wasn't even discovered when that was set up in the 1500's..
     
  3. goldpelican

    goldpelican Administrator Staff Member

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    How many times does this have to be rehashed?

    Perth Mint retail store stock levels are exactly that - the stock levels of the RETAIL STORE. Not the stock levels of the online bullion store, not the stock levels of Depository, not the stock levels for the phone orders, not the stock levels of the Mint.

    It's like walking into a corner store Saturday afternoon and there's no bread left - doesn't mean Tip Top is out of bread. They can't just "run out the back" and grab more off a pallet in a warehouse.
     
  4. zurnaik

    zurnaik Member

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    What about the pub with no beer? :D
     
  5. goldpelican

    goldpelican Administrator Staff Member

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    We're out of beer?!? :eek:
     
  6. zurnaik

    zurnaik Member

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    Well they could go to the warehouse but you would be waiting a long time for your bread, and you'll probably starve.

    Just like you can place an order with the mint at the current price and then wait for them to manufacture it and send it to you. The difference is you're not going to starve just because your silver is delivered 2 weeks from now.

    The mint has a certain production line capacity so when demand spikes there's going to be a backlog.
     
  7. zurnaik

    zurnaik Member

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    One could say that the "Feds" printing press and the Perth Mint "printing" press are both running hot :)
     
  8. Silver is Money

    Silver is Money Member Silver Stacker

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    Exact same thing happened back in 2008 when there was a min 3 week delay in receiving your silver order due to a huge run on physical silver. This was attributed to a 50%+ price crash on paper prices over a few months period and it was considered undervalued by astute investors.

    The difference today is that prices have actually increased 50%+ over the past few months and the run on silver is now being attributed to a supply shortage or a possible Comex default. Only time will tell I suppose :)
     
  9. Matthew 26:14

    Matthew 26:14 New Member

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    No its not, jeepers. What a beat up. You can still front up and buy whatever you want over the counter.
     
  10. Nugget

    Nugget Active Member Silver Stacker

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    I bet you that I can't. I'd elaborate but there's a no **n talk on Silver Stackers :p
     
  11. Devise

    Devise New Member

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    I believe it. My bullion dealer has a 4 week back order on PAMP bars caused by a boost in demand.
     
  12. goldpelican

    goldpelican Administrator Staff Member

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    There's a big difference though between saying "Perth Mint is out of silver" and "Perth Mint can't offer new retail stock for x weeks because their production is going towards backlogged orders" etc.

    In 2008 we had people claiming the mint was effectively a ponzi scheme with no silver AT ALL because of the same "out of stock" message being twisted.

    I know Steve from Aurora et luna had to wait ~3 weeks for a shipment of 10oz bars - the supply of new bars seems a bit problematic.

    I'm led to believe that bar production and coin production are two separate areas at the mint - one is refining, one is minting. Haven't heard of coin shortages - was it 40,000 1kg coins sold in the last few months? That's over a million ounces of production right there in a single coin size.
     
  13. Dynoman

    Dynoman Active Member

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    "Ponzi" What a cool frikken word !
     
  14. boneyard

    boneyard Well-Known Member Silver Stacker

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    Important Note to All Customers:
    Customers please note that due to high market demand for the PAMP 1 Kilo silver bars, there is currently a wait time of 4 to 7 weeks for this product.

    From another website...............:)
     
  15. bron suchecki

    bron suchecki Active Member Silver Stacker

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    We are working on boosting bar capacity. With small bars you can run out if you get your estimate of what stock you need to carry wrong, eg suddenly everyone wants 10oz, not Kg.

    Funny, no one every seems to say we've run out of 1000oz bars, which are the standard wholesale form which we melt down to make the small ones. When we start to see shortages of those across the industry then you really know there is a short squeeze.
     
  16. dccpa

    dccpa Active Member

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    Bron, any guess as to when the mintages for the 2010 coins will be released? I am mainly curious as to the mintage for the 2010 1oz silver lunar tiger.
     
  17. bron suchecki

    bron suchecki Active Member Silver Stacker

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    No idea, leave that question at the Mint's bullion blog and that should make sure it gets followed up.
     

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