Perth Mint 10oz and 1kg bars not available?
- Thread starter armenikumz
- Start date
Silverthorn
Well-Known Member
renovator said:
The mint has done though its just silver went on sale and they got overwhelmed on their bar capacity which is supposed to have doubled. They are supplying a retail product for something that is in a huge bull market. Get use to it.
Silverthorn
Well-Known Member
Why does owning the metal matter, they have more silver than they can poke a stick at. That's their business model. Free unallocated storage which the mint can access for their production needs. The only problem they have over the years is production capacity in relation to demand.
x
renovator said:
Yes ... I'm getting tired too ... mostly from some of the inane conjecture in this thread....
They are a business, they have no obligation to you.
You aren't entitled to a consistent supply. And if you think it's hard now, check back in this thread in 12 months time. The people are waking up, and demand will continue to outstrip supply.
Running a business is hard.... Any other bullion business can simply go off-shore for additional capacity. Perth Mint aren't even allowed to re-sell bars that come in with other manufacturers stamps on them.
I'm sure they could appease demand by outsourcing excess orders to be produced in China. But I think that would be a little short-sighted. For the moment.... I await my orders... (For ounces of course)
Correct. Since April every single time I go to the dealer I get stuck in a queue. Sometimes it take me 1-1.5hours to get served, just for a pick up.
Not only did those people not exist last year as customers, but the people that were around seemed like they knew what they were doing. Since April I have been talking to the other customers and have noticed a few things:
- Only once have I seen another regular buyer.
- Only once did I see a seller (and older couple selling some fairly old 1kg ABC bars)
- Caucasians account for maybe 10% of the customers, the buyers are often Asian and Indian.
- The buyers are almost exclusively -first time buyers-. If I'm in a queue of 10 people, 8-9 of them are opening accounts and expecting to walk with metal that same day.
- Transaction size is often small 1-5k on average.
- Almost nobody knows exactly -why- they are buying metal. Normally someone they trust told them to do it. A few think 'its going to go up', but most of the first timers seem to think its a 'good idea' or that in their culture it's normal.
- I also see a few people who look like they stepped of a plane from India (often the whole family 4-8 people). I presume we just have better stocks than they do back home.
Honestly though, the average guys don't stand a chance. We're pretty much clearing the shelves as is. Not much more demand is needed until back-orders will be all you can manage. One back orders get out to a few months most people won't risk it, and will just sit on the cash I'd say. (At least that's what happened to me during the GFC.)
PM, ABC, PAMP, etc... doesn't matter how they operate. So long as you can get it, thats all that matters.
Not only did those people not exist last year as customers, but the people that were around seemed like they knew what they were doing. Since April I have been talking to the other customers and have noticed a few things:
- Only once have I seen another regular buyer.
- Only once did I see a seller (and older couple selling some fairly old 1kg ABC bars)
- Caucasians account for maybe 10% of the customers, the buyers are often Asian and Indian.
- The buyers are almost exclusively -first time buyers-. If I'm in a queue of 10 people, 8-9 of them are opening accounts and expecting to walk with metal that same day.
- Transaction size is often small 1-5k on average.
- Almost nobody knows exactly -why- they are buying metal. Normally someone they trust told them to do it. A few think 'its going to go up', but most of the first timers seem to think its a 'good idea' or that in their culture it's normal.
- I also see a few people who look like they stepped of a plane from India (often the whole family 4-8 people). I presume we just have better stocks than they do back home.
Honestly though, the average guys don't stand a chance. We're pretty much clearing the shelves as is. Not much more demand is needed until back-orders will be all you can manage. One back orders get out to a few months most people won't risk it, and will just sit on the cash I'd say. (At least that's what happened to me during the GFC.)
PM, ABC, PAMP, etc... doesn't matter how they operate. So long as you can get it, thats all that matters.
silverman47
Active Member
armenikumz said:
why would you buy 1kg bars?
i started on bars etc. but the 1 oz coins attract the best premiums when prices rise, i only buy 1 oz coins now. I want to swap some bars for coins if anybody wants any, i have 10 oz bars, 1kg, 20 oz etc. think i have some 5 oz bars there.
:lol: whats wrong got your knickers twisted around your beak ? We have an opinion just like you so we should not come forward with it because you & a couple of others say so? Internet = free speech . Its all opinions good & bad .Should we all just agree & hold hands .Bron & the PM are adults if he doesnt like it he shouldnt post .Its like me in the RE threads i post something & others ridicule it .Its all part of the game.No big deal .I think that he should get the same treatment as anybody else including you.Captain Kookaburra said:
When dealers & general customers all complain there is a problem that shouldnt be just swept under the carpet because a selected few dont like what they read . Its a discussion forum where things like this SHOULD be discussed or is it a selective discussion forum where only some things can be discussed & other things taboo in the fear of upsetting someone.
Im sure your a good bloke like bron but you both have a vested interest that is blindingly obvious from your posts. I say let free speech reign & nature take its course not selectively discuss certain topics.
renovator said:
Unrelated to this topic, but a common misconception.
Silverthorn
Well-Known Member
renovator said:
The thread is about the lack of availability of bar yes? They have tons of silver available for production but demand keeps outstripping their production capacity even after forking out significant sums. Ownership of the metal has nothing to do with it.
G
Guest
Guest
~
The only way to create silver shortage if mints around the world produce more investment silver as available on the market, but the mints do not need to expend their capacity beyond available silver because no economic incentive to do that.
Catch 22 really, because no shortage but no silver available to order either.
Catch 22 really, because no shortage but no silver available to order either.
armenikumz
New Member
silverman47 said:
I will be selling my silver when it is high in demand as a currency. During that time, numismatic value would not be taken into consideration.If I was to buy a house with 400 oz of silver, the bank or owner wouldn't distinguish a koala from a lunar dragon - an ounce is an ounce for the seller.
At least, that's how I see it. I could be wrong.
-A
renovator said:
I'm a Kookaburra .... I don't wear pants (or knickers)
renovator said:
Good discussion is always good. Targeting individuals with personal comments just because you don't have a persuasive argument is not good discussion.
renovator said:
I'm a Kookaburra .... I don't wear a vest.
Silverthorn
Well-Known Member
I suspect their sales are fairly small in relation to their unallocated pool. Least ways they canned the free unallocated because it was costing them money. As to not wanting to sell, their business model is such they only make money if they are selling. They don't own it so there is no need to hold back until prices rises again, the price of silver is taken out as a factor for them.