There has been alot of talk on Silver Stackers lately on difficulty/delays in buying physical silver in Australia and I've noticed the prices on ebay for physical are well above bullion dealer prices. As I mentioned in a previous post, the physical prices vs the paper price is becoming more disjointed, this is exciting and perhaps indicative of a big 1st quarter of 2011. Many silver experts are predicting some big moves possibly arising late feb into march. anyway here is the article link: http://www.zerohedge.com/article/us-mint-reports-unprecedented-buying-spree-physical-silver
We've seen physical shortages/delays before so it's not a new development & there are still places you can buy your silver online and in person if you look around. I will start to be concerned when the delays from the mint are stretched out indefinitely - that's the trigger for my mind. Right at the moment a 'we'll get it to you in a few weeks' is more a processing issue rather than real supply issue. The US however looks like it might be one of the first to dry up... I saw a recent discussion on YouTube about local coinfair dealers even running low on stock! [youtube]http://www.youtube.com/watch?v=j7_7IYukg04[/youtube] Fast Forward to 4:00 to see what I'm talking about.
Was just about to post a thread on this same subject... Worth reading this line a couple times so it sinks in: In just the first 12 days of the month we have already surpassed the total monthly sales of 9 separate months of 2010.
Today is only 14/1/2011. In the first 12 days of January 2011 3.4 million silver eagles have been sold.Is this some kind of misreport?? Last year January around this period 3,225,000 has been sold.......... The funny thing is that the price is declining... Indeed there is a jisjoint between the paper and physical. It is very interesting to see what is happening up ahead.
Just bear in mind this does *not* mean the "sum of all 9 months". http://www.usmint.gov/mint_programs/american_eagles/index.cfm?action=sales&year=2010 http://www.usmint.gov/mint_programs/american_eagles/index.cfm?action=sales&year=2011
I believe the record January sales are partially due to the limited sales in December. I believe the mint was busy minting 2011 ASE that were not available for sale in December. Therefor, the mint did not have much inventory to sell at the end of the year.
I don't know the U.S. mint's opening times, but if you assume they had a week or so off over Christmas then you have to tack and extra 7-10 days worth of backlog into the January sales figures. Seems something similar to that happened with the Perth Mint, hence the drought of physical metal available at the moment.
That was a great prediction, spot on. Does anyone know when the CFTC thing will happen? Wasn't it postponed?
Yep.. but only 'till October...last year! You're not playing along... we were all supposed to forget about that!
