Yeah must be either for selling in shop (not internet/phone) or backordered stock, I'm a little bit jelly that you got some bars today to be honest
Who did you call - online or the walk in shop - two different departments, two different computer systems and two difference stock holdings. There is stock showing in the shop's system, but maybe they haven't got around to entering back orders. Phoning up and walking in also two different things.
There were a few office types, two Indian guys & about 5-6 people in queue behind me. Maby not all for silver... Maby gaz
Called up, pressed 1 to order some bullion, asked what silver was available, told only 100oz bars. Spoke to a female. If there are some there then put me down for 5 10oz bars or 3 20oz bars, whicher is available! This number "PLEASE CALL OUR BULLION LINE ON 1300 201 112 FOR ORDERING DETAILS" Is there another number I shoulda tried?
His reasoning is Murphys law I dont think he intends for you to make financial decisions based off this post!
I always make decision on my own. Just curios if collapse happens, how deep the silver will drop. Saw some people posting in other thread saying it is near the time point to sell. Wondering what they gonna do if silver back to $30 range, buy back again or just watching and assuming silver will do free fall back to $10?
Like i said matrix, I gotta get my head around the gemstone market. What you say is exactly what I've been reading in searches on the net. In fact I just started drafting a PM to you and it mentions the same things, but in relation to info I read about opals. I understand now. It's when you wrote "Keep in mind this does not apply to set stones in jewellery" that threw me a bit. This is the bit I haven't yet determined. I think it's unlikely given the level of organisation in the PM market, yet, you could hardly argue the diamond market is not well organised either. Synthetic diamond alternatives exist, and may meet industrial requirements, as do natural gem alternatives such as rubies and sapphires, but I'm unaware of a synthetic silver product that meets industrial needs. Anyway, thanks mate, it has clarified for me your reasoning. I look forward to part 2 of your story.
MatrixOpals Silver and gold are different from diamonds and opals. They are MONEY. Silver shortage in one place felt on the entire world market. Silver gold and money are very closely related, not some sort of family business. They can cause bank runs.
A breakdown of the delivery mechanism for a non-monetary commodity is no big deal. It is a local affair barely noticed even by other exchanges trading the same commodity in default. But for a monetary commodity, it is a different story. A breakdown cannot be localized. It triggers a domino-effect. Trading of the monetary commodity at all other exchanges will also come to a screeching halt. Banks go into cash-and-carry mode without delay. No statistics are available showing the volume of credit instruments in use involving a monetary metal but, in view of the derivatives, it must be enormous. All this credit freezes up at the same time, with incalculable consequences as far as world finance is concerned. It is true that derivatives directly linked to gold and silver form but a minor part of the total. Nevertheless, the entire derivatives Tower of Babel is in danger of toppling. Why? Because gold and silver, whether demonetizing governments like it or not, are still part of the foundation of credit. If the credit financing gold derivatives goes, so will soon the credit financing interest-rate derivatives. The domino-effect will knock down all the other pillars supporting the credit structure.
Hey guys, I too have just been in to Perth Mint, got some 10 oz bars no probs, was the only person there the whole time I ordered...was 4.00 in the arvo though... Gotta feel for the staff in there, having to deal with crazed peeps and as we go along, just gonna get worse..(mania phase?..sheesh!!)..the woman who served me was so sour...kinda ruined the experience a bit, not to mention these days, when the price is shooting up and yr trying to get as must as you can with the fiat youve got, the pricing system kinda irks me a bit...seems like its premium on the spot, plus a premium on top of that...but thats just me getting my head around it.. hate buying as much as I did at these prices, feel like the boat is sailing away...and because I just bought up quite a bit, the price is bound to drop.. Bron, I know i should maybe just find this out myself but, how does a mint operate? probably not like this with silver, but with gold, do you just stock pile for 30 yrs or whatever, in the down cycle in preparation for when it turns?....no probs if you couldnt be bothered answering that.. Hope that makes sense,....
The retail walk in shop is a different number but they don't do telephone sales to interstate customers. Shop's stock is unfortunately only available to WAers.
There would only be two ways to "stockpile" gold or silver - 1) borrow/lease it in or 2) buy it for cash. We don't/never have done option 2 as that exposes us and the Govt (and thus WA taxpayer) to a drop in metal prices. We don't have the authority to take that sort of punt. With option 1, even at current low lease rates, the lease cost would start to add up so is not really viable. If the physical market dries up and no one wants to supply physical metal to us, then we will just have to shut down.
Thanks Bron, but i was thinking more along the lines of - after 1980 peak, price drops, slides along at half that for like 20yrs, whats the mint doing in that 20 yrs of low prices?..mines are shut down, not viable, etc.......again dont worry answering if it'll take all night for you, I can get orf me butt and find out for myself, just interesting cause Im talking to a real live mint-worker...
yeah, I am aware of that thought... and the simplistic answer....Im asking to get the ins n outs of that process from an insider..can you think of many operations that do business according to cycles?...foreign concept to the absolute majority except those in the know..
