Perth Mint 10oz and 1kg bars not available?

BBQ said:
bron suchecki said:
The price fall, demand up we recently experienced is actually an anomaly and the first time I've seen it. It could signal a shift into a new phase in the market because before people were discouraged by price falls. Now we may have stronger hands in the market.
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I've heard this from several others in interviews too. Exciting times.
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The Canadian Mint is smaller than the Peth Mint, but if you think investment in a coin press is a waist of money than explains this!!


Silver - Canadian Maple Leaf - 2001 - 1 oz BU Mintage: 398,563
Silver - Canadian Maple Leaf - 2002 - 1 oz BU Mintage: 576,196
Silver - Canadian Maple Leaf - 2003 - 1 oz BU Mintage: 684,750
Silver - Canadian Maple Leaf - 2004 - 1 oz BU Mintage: 680,925
Silver - Canadian Maple Leaf - 2005 - 1 oz BU Mintage: 955,694
Silver - Canadian Maple Leaf - 2006 - 1 oz BU Mintage: 2,464,727
Silver - Canadian Maple Leaf - 2007 - 1 oz BU Mintage: 3,526,052
Silver - Canadian Maple Leaf - 2008 - 1 oz BU Mintage: 7,909,161
Silver - Canadian Maple Leaf - 2009 - 1 oz BU Mintage: 9,727,592
Silver - Canadian Maple Leaf - 2010 - 1 oz BU Mintage: 17,799,992
 
Buys today, will respond, but just want to cover this issue quickly:

Slam said:
goldpanner said:
If this is how difficult it is to get silver now just imagine what would happen in panic buying?
If there is still so much silver available a buyer should be able to lock in a silver price today for bars if he is willing to wait the weeks/months for delivery.
I reckon the truth is that they do not want to sell the silver at such a low price so they are limiting supply!
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They will keep the supply chain moving only if they can source silver at current prices from their suppliers. Maybe the current supplies are sourced at the $35-40 range. They wouldn't want to be selling at $30 now, unless they are certain suppliers can resupply silver for fabrication at its current prices.

I am eagerly waiting for the whole supply chain to implode on itself, the paper price can only hold up for so long until total supply is bought out and mines refuse to supply at current prices. Keep on loading up if stock is available.
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Where the price is has no effect on us. We never take exposure to the price. As to sourcing raw (wholesale) silver, we have never to-date had any problems with this - neither miners nor bullion banks have refused to supply at any price. If this was the case we would not be selling pool allocated silver as we wouldn't have bars to list on this report http://www.perthmint.com.au/pool_allocated_bar_listing.aspx
 
Southerner said:
Seems to be a lot of entitlement mentality going on around here.
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Absolutely bloody right Chum - I mean to think all these disgruntled customers expect that they should actually DESERVE something in terms of consistency of supply or logical explanation after supporting this rickety enterprise over the years, like little Wal-E's at that shiny WA nipple - sometimes over three generations... or more.

The sheer temerity of 'em...

Just who DO they think they are?!?!?!?

SHEESH!

VRS ;)x
 
As the Perth mint representative said; the mint is responsibly by the WA government. As such its top priority is keeping the WA government happy. If you don't like it stop supporting them through buying products(when available). Buy elsewhere.
 
Southerner said:
Seems to be a lot of entitlement mentality going on around here.
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its not entitlement in my opinion but rather people just saying "lets call a spade a spade".

that is me done on this issue.
 
One question I have - what is the variation level (or you could say margin for error) when buying 1000oz bars - is it pretty spot on or does it deviate + or - a few ounces?
The 12-16kg bars are the example I have run into, was wondering if there were any example I dont know about.
 
joshrichy said:
One question I have - what is the variation level (or you could say margin for error) when buying 1000oz bars - is it pretty spot on or does it deviate + or - a few ounces?
The 12-16kg bars are the example I have run into, was wondering if there were any example I dont know about.
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They are allways over by at least 2-3gms
 
~1000oz bars are industrial/bulk - they're not nicely machined 1000.0oz bars. They're 950 to 1150oz. They're genuinely cast - so they pour "about" 1000oz of silver into a mold.

Smaller bars are either cast from measured shot (hence exact 1kg bars) or shaved to correct weight (the old Perth Mint kilo bars can be seen to have shaving marks around the edges).

Re the Canadian Mint - my understanding is that silver maples are minted on the same presses that circulating Canadian currency is struck on, whereas the Perth Mint is a dedicated precious metals mint. Bit like comparing a boutique baker to Tip Top that supplies Coles & Woolworths. Ask yourself this - why isn't the Royal Australian Mint replicating the Royal Canadian Mint practice of striking bullion coins during non-peak production times for our regular 5c to $2 coins? We have a massive minting facility on the eastern seaboard that is only producing a single limited edition carded 1oz silver coin that's sold to collectors - not an iota of bullion coin production.
 
1915_10k_ozs_bars.jpg


the big bars
 
goldpelican said:
Ask yourself this - why isn't the Royal Australian Mint replicating the Royal Canadian Mint practice of striking bullion coins during non-peak production times for our regular 5c to $2 coins? We have a massive minting facility on the eastern seaboard that is only producing a single limited edition carded 1oz silver coin that's sold to collectors - not an iota of bullion coin production.
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Its because they are too busy striking 100 different types of $1 commemoratives :lol:
 
HeavyMetal said:
One further comment that I would like to make, hopefully to be received as a constructive suggestion rather than a destructive criticism, is that demand management need not be limited to production capacity alone.

The Perth Mint is not just a manufacturer. It is also a trader, and it has other corporate policy options that are not currently being used.

Future demand can be "locked in" and therefore made more predictable (and bankable). As already mentioned above, the PM could accept orders subject to delayed delivery when inventory is down and production capacity is limited.

It's not the ideal situation, and some customers won't like it, but at least it would be one way for them to lock in a price and for PM to reduce demand uncertainty.

The PM could also reduce delivery delays by using alternate, non-production methods to increase inventory. Like increasing product buy back prices. Maybe even to above the nominal paper-based spot level, if the demand is high enough.

Selling margins could still be maintained, and should not need to be as high anyway given that the manufacturing process was not required for bought-back silver.

There are actions that the Perth Mint could take to alleviate unexpected high demand situations. There is no need to throw hands up in the air and say it's all too hard, and close off all sales. Risks can almost always be hedged or otherwise mitigated, to reduce the fear of adverse consequences.
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The more I think about it, the more that I am surprised that the Perth Mint does not already offer higher buy back prices for its own products. Apart from the savings resulting from the ability to send such buy backs directly back into to the sales inventory, it also encourages the association of a higher value with Perth Mint silver throughout the precious metals marketplace.

Maybe we need to translate this concept into corporate-speak language, which Bron can forward to Perth Mint executive management to help them understand:

Bottom line profit enhancement will occur via increased margins if the product is de-commoditised and the brand is leveraged, while the cost of sales is right-sized going forward.

Apologies to all plain speaking people out there, but in my experience if you don't translate common sense into corporate management gobbledegook, then the senior managers usually have no idea about what is being proposed. :|

And Bron, if you get a staff suggestion monetary award, don't forget to give me a cut. :D

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