Physical delivery delays - what price delivery?

Discussion in 'Silver' started by goldpelican, May 5, 2011.

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  1. thatguy

    thatguy Active Member

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    I am always nervous waiting on PMs as it is usually a large amount of money (for me anyway), I would not buy with a wait time (well apart from the usual 2+ weeks :p ), would just source alternate stock i.e. if I wanted 1oz kooks would settle for 1oz buffalos or hummers or whatever was available
     
    thatguy, May 5, 2011
    #21
  2. goldpelican

    goldpelican Administrator Staff Member

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    There was a dealer failure in Sydney in the 90s. Name escapes me at the moment. Made the news.
     
    goldpelican, May 5, 2011
    #22
  3. Yippe-Ki-Ya

    Yippe-Ki-Ya New Member

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    You can say that again! That's spot + 15% ...

    Anybody else here prepared to pay that much ???
     
    Yippe-Ki-Ya, May 5, 2011
    #23
  4. unfunkable

    unfunkable Active Member

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    i'm not in a rush to sell...supply and demand yky...
     
    unfunkable, May 5, 2011
    #24
  5. Yippe-Ki-Ya

    Yippe-Ki-Ya New Member

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    I'd be interested to hear how you go ...
    I'm sitting on a few myself and would be interested to see how high PAMPs can go for.
    They certainly are (by far) the best tin around...
     
    Yippe-Ki-Ya, May 5, 2011
    #25
  6. Nationalist

    Nationalist New Member

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    This is something that worries me a little. I have all my physical stored with my dealer. I don't hold the silver and just have a certificate saying how much silver they are storing for me. So, I guess if they went down I might lose all my silver? I would like to take possession of my silver but i just sont know where to store it, besides the reserve vault which is not cheap. Does anyone have any storage suggestions for silver that are not too expensive?
     
    Nationalist, May 5, 2011
    #26
  7. Blockhead

    Blockhead Active Member

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    unless you're talking an absolutely incredible amount it shouldn't be too difficult to creatively store/conceal your silver, and if it IS an incredible amount the the costs for reserve vault would surely be worth it?

    sorry, i know that's not really the answer you were looking for.. :/
     
    Blockhead, May 5, 2011
    #27
  8. goldpelican

    goldpelican Administrator Staff Member

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    Nationalist, I'm not a lawyer, but that sounds like you have clear title to the silver, rather than being an unsecured creditor who is awaiting delivery of a purchase.
     
    goldpelican, May 5, 2011
    #28
  9. Blockhead

    Blockhead Active Member

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    Harvey Pelicanman, Attorney at Law..
     
    Blockhead, May 5, 2011
    #29
  10. RetardedMonkey

    RetardedMonkey Active Member Silver Stacker

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    In your ceiling.
    Under some floorboards.
    Dig a hole in your backyard.
    Submerge in a body of water.
    Feed it to your dog (warning: retrieval might be... messy).
     
    RetardedMonkey, May 5, 2011
    #30
  11. Yippe-Ki-Ya

    Yippe-Ki-Ya New Member

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    If you dont hold it you are subject to third party risk...

    Get it!
     
    Yippe-Ki-Ya, May 5, 2011
    #31
  12. goldpelican

    goldpelican Administrator Staff Member

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    Holding at home is not always practical or desirable. Using a vault service still has third party risk, just a different type.

    Every single possible technique for owning silver has some degree of risk associated.
     
    goldpelican, May 5, 2011
    #32
  13. goldpelican

    goldpelican Administrator Staff Member

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    Found it - "Perth Bullion Exchange".

    Went bankrupt in November 1996, and was providing storage services for bullion purchased by customers. On bankruptcy, trustees took possession of the assets, and there was no bullion. "Owners" of the bullion became creditors, and got back 50c in the dollar.
     
    goldpelican, May 5, 2011
    #33
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