PERTH MINT HAS NO 100oz or 1kg BARS AND WILL NOT TAKE A BACKORDER

Discussion in 'Silver' started by silversurfer2010, Feb 1, 2011.

  1. Slam

    Slam Active Member Silver Stacker

    Joined:
    Sep 27, 2010
    Messages:
    1,289
    Likes Received:
    17
    Trophy Points:
    38
    Location:
    Au
    It seems that the Perth Mint is stocked properly, but this still begs the question how much silver is produced annually?

    If there is such an abundance of silver, couldn't JPM cover for its shorts just ordering direct from Perth Mint?

    Why couldn't Eric Sprott just buy direct from Perth Mint to setup his Silver trust? Instead of taking 10 weeks to source 1.5million oz or something.

    As much as I would like to believe what I read, sometimes these news come out to calm a frenzy market. Only time will tell.

    Slam
     
  2. goldpelican

    goldpelican Administrator Staff Member

    Joined:
    Jun 29, 2009
    Messages:
    17,942
    Likes Received:
    439
    Trophy Points:
    83
    Good work hobo-jo, and kudos to the mint for the responses.
     
  3. bron suchecki

    bron suchecki Active Member Silver Stacker

    Joined:
    Jul 10, 2009
    Messages:
    1,269
    Likes Received:
    2
    Trophy Points:
    36
    Location:
    Perth, Western Australia
    "Why couldn't Eric Sprott just buy direct from Perth Mint to setup his Silver trust?"

    We only refine 140t of silver a year, he was looking for 700t, but it still would of been nice to be asked :(
     
  4. Slam

    Slam Active Member Silver Stacker

    Joined:
    Sep 27, 2010
    Messages:
    1,289
    Likes Received:
    17
    Trophy Points:
    38
    Location:
    Au
    140t = 4.5 million oz.

    This is not alot of silver, considering 6.5 million eagles sold in 1 month. Maybe there isn't a shortage of raw silver, but there are production capacity constraints at the mint.

    Slam
     
  5. goldpelican

    goldpelican Administrator Staff Member

    Joined:
    Jun 29, 2009
    Messages:
    17,942
    Likes Received:
    439
    Trophy Points:
    83
    That's basically what everyone had been saying ;)
     
  6. Trichter

    Trichter Member

    Joined:
    Dec 15, 2010
    Messages:
    945
    Likes Received:
    7
    Trophy Points:
    18
    Location:
    Australia
    Yeah Perthmint have had 1kg bars again since Wednesday and they have 100oz again now too.
     
  7. bron suchecki

    bron suchecki Active Member Silver Stacker

    Joined:
    Jul 10, 2009
    Messages:
    1,269
    Likes Received:
    2
    Trophy Points:
    36
    Location:
    Perth, Western Australia
    Should have mentioned that we make more silver than we refine so we bring in 1000oz silver bars to top up. As per 2010 annual report: "Coin, bar and medallion sales added value to 10.13 tonnes of gold, 218.5 tonnes of silver and 9.86kg of platinum"
     
  8. Matthew 26:14

    Matthew 26:14 New Member

    Joined:
    Sep 3, 2010
    Messages:
    3,354
    Likes Received:
    1
    Trophy Points:
    0
    Location:
    Victoria
    Perth Mint says they have bought 2 new printing presses, one for larger coins and one for the 1oz size. Will take them 3 months to get them up and running.
     
  9. thatguy

    thatguy Active Member

    Joined:
    Jan 18, 2011
    Messages:
    5,974
    Likes Received:
    1
    Trophy Points:
    36
    Location:
    Brisbane
    Strange BB has shipping delay until march on 100oz ag on their website and is selling 2 on ebay?!
     
  10. goldpelican

    goldpelican Administrator Staff Member

    Joined:
    Jun 29, 2009
    Messages:
    17,942
    Likes Received:
    439
    Trophy Points:
    83
    Makes sense - cash in on the shortage!
     
  11. smokey

    smokey New Member

    Joined:
    Dec 31, 2010
    Messages:
    129
    Likes Received:
    0
    Trophy Points:
    0
    Location:
    Vancouver Island, B.C., Canada
    North American shortage of 100 oz bars.
    Sunshine mint-not anytime soon
    RCM- two week out
    Apex-spotty but out
    Academy Corp`s- two months out
    JM-month out
    Apex-out
    Gainsville- out[ just generic-maybe]
    www.resourceinvestor.com/News/2011/1/Pages/100oz-silver-bar-shortage-developing.aspx
    Please post links to silver stories. Thank you.
    Shortage or my imagination getting the best of me. Grab on and enjoy the ride. Away we go.
     
  12. Holdfast

    Holdfast Well-Known Member Silver Stacker

    Joined:
    Oct 15, 2009
    Messages:
    9,823
    Likes Received:
    1,106
    Trophy Points:
    113
    Location:
    Australia
    Worse this time!
    No 10 oz, no 100 oz silver bars.
    No 5oz or 10oz silver coins.
     
  13. Millennial Engineer

    Millennial Engineer Member

    Joined:
    Apr 19, 2020
    Messages:
    86
    Likes Received:
    41
    Trophy Points:
    18
    I went to Perth Mint last month.

    The only "spot" Silver they had for sale was the 1/2 Ox Coin. And i think Back orders on the 1kg Bar (no 100 oz or 10 oz bar available for back order iirc). This was worse stocks then what was available during the March 2020 11 USD spot silver.

    They had about half of their gold products ready to sell at the time.
     
    Holdfast, tDawg, adze67 and 1 other person like this.
  14. tDawg

    tDawg New Member

    Joined:
    Jan 7, 2020
    Messages:
    22
    Likes Received:
    17
    Trophy Points:
    3
    I was at the mint 2 weeks ago and have never seen it so “empty“. Very little silver available for sale and yet the line to the bullion room was nearly out the door.
     
    Shlomo Goldberg and Holdfast like this.
  15. Millennial Engineer

    Millennial Engineer Member

    Joined:
    Apr 19, 2020
    Messages:
    86
    Likes Received:
    41
    Trophy Points:
    18
    That's scary as My thoughts would be no silver means no line, as the people buying silver could at least see there is nothing for sale. In times like these I can see people getting emotional because they lined up yet can buy nothing.

    I guess Physical is becoming "Unobtainable" Here in Perth, I'm hoping that waiting a while longer and this will spread to the rest of the world, pushing premiums and spot price up.
     
    tDawg likes this.
  16. tDawg

    tDawg New Member

    Joined:
    Jan 7, 2020
    Messages:
    22
    Likes Received:
    17
    Trophy Points:
    3
    That's my thoughts also. Actual physical silver is getting harder to come buy and the premium is going up accordingly.

    There were some 1kg bars and 2 or 5oz coins available. So many people waiting they were selling kilo bars over the counter, not from the bullion room. Saw a number of people buying kilo's of silver at a time.

    I managed to get myself a few ounces
     
    Holdfast likes this.
  17. Millennial Engineer

    Millennial Engineer Member

    Joined:
    Apr 19, 2020
    Messages:
    86
    Likes Received:
    41
    Trophy Points:
    18
    Cool that you got your silver, and that there was still some available.

    I am aiming to go to Perth mint in a week.
     
  18. alor

    alor Well-Known Member Silver Stacker

    Joined:
    Jun 16, 2011
    Messages:
    9,735
    Likes Received:
    2,447
    Trophy Points:
    113
    Location:
    Pulau Alor ;)
    ^ if you are allowed to take pictures at the shop, please do and share them here TY
     
  19. Golden ChipMunk

    Golden ChipMunk Well-Known Member

    Joined:
    Dec 12, 2012
    Messages:
    7,225
    Likes Received:
    514
    Trophy Points:
    113
    Location:
    Perth, Jupiter, Venus, Mars
    Plenty :)

    Yesterday... All Sizes after Loaded up The Truck. :D
     
    adze67 and 66rounds like this.
  20. tDawg

    tDawg New Member

    Joined:
    Jan 7, 2020
    Messages:
    22
    Likes Received:
    17
    Trophy Points:
    3
    I see they have the 10oz cast bars back up online.
     

Share This Page