EVERYBODY knows 1000 ounce bars are available, so what? No one wants them because you cannot send them to a mint or refiner to have them reduced/converted unless you have very large quantities so what is the point to owning them? Who are you going to sell them to? When silver hits 100 dollars next year who is going to make change for them? "Oh hi, I'd like to buy a tent to live in from your shop but the price I noticed is 1 ounce of silver. Are you sure you can't break this 1,000 ounce bar for me kind sirs? Hell IT'S ONLY WORTH 100,000.00 so what's your prob?"
"I much prefer to buy silver at $9.47 than buy it at a 50-100% premium like you do. Eventually, the premium on these small size items will come back down to the traditional 5-10%."
Stop making ignorant comments like RR does unless you can back your assertions up with facts. I don't buy my silver bars at a 50% premium and I'm not telling you what I pay for them. I sell them for .....sit down CC, next batch arrives next week, 1575.00 CAD and I'm back ordered about 7000 ounces at the moment.
Turk hasn't a clue what he is talking about. You should read Hommel and Butler as they are experts on silver. Turk doesn't live in Canada as we do but operates a funny paper gold internet site which is subject to crashing, if there is a insurrection which I hope happens in the USA, and this is not a recommended way to buy gold....in troubled times of financial collapses it is best to have it in your sticky little fingers, no? So how is he supposed to know what goes on around here? I know of one downtown bullion dealer who is offering (today's price) 100 ounce bars for 1560.00 BUT when I asked him if he had any he said "NO, haven't seen any silver for months and if you want some you will need to wait for 4 to 6 months" !!!!! So if you think that retail silver is going to go down to near spot, I beg to differ because these unethical dealers are taking deposits on 6 month delivery
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silverstockreport.com
Report on Mints
(The Good and Bad)
Silver Stock Report
by Jason Hommel, November 21, 2008
My readers are many, and have been known to swamp a place. I have 85,000 readers on this email list, and about 15,000 of you, at a minimum, will catch this email.
Therefore, may I make a simple request? Don't contact the mints unless you have about 10,000 to 20,000 ounces of silver in the form of 1000 oz. bars, ready to mint. Please. They may turn away your business, as being too busy, anyway, even if you did have that amount, as they ARE ALREADY TURNING AWAY CUSTOMERS.
(If you have less money, I have another business opportunity for you, a $2400 givaway by Microsoft & Paypal, scroll to the bottom of this email to read about it.)
Most private mints are undercapitalized. They barely got by, surviving the bear market in metals, when people were selling more 1 oz. rounds than people wanted to buy (which is like "dumping" which crushes businesses.) To survive, many of them ended up making custom brass medallions for various groups.
Now, they are cautious about entering the silver market again. They want to work with people who will give repeat business, such as retail bullion dealers only. Some are willing to work with smaller customers, as they don't want to be dependant on one large supplier who may go out of business. But staying in business in this market is not so much a function of size, as timing, and overall market trends.
Think hard before you decide to enter the business of being a "bullion dealer". Be prepared to wait 4-8 weeks for the minting time. And to deal only 1/4 or 1/8th of your silver capital each week, while you wait.
If you deal in large volumes, you will need the following:
1. A way to market your end products; bars or coins. (We have help from family. See my Mom's eBay Silver Shop)
2. A secure space to package your products.
3. Vaults to hold material when not being packaged.
4. A shipping department and/or operation, with several employees.
5. An accounting department.
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The U.S. Mint.
usmint.gov
You can't send material to the U.S. Mint. To buy silver Eagles from the U.S. Mint in quantity, you need to be an "authorized dealer". To be an "authorized dealer", you have to have a net worth of about $5 million, and be a proven "market maker" for Eagles for at least 3 years. Minimum purchase is 25,000 coins.
The Mint is rationing these coins to these dealers, so they are upset, and currently charging extra for the coins, as a result. There are about 16 authorized dealers.
usmint.gov
The United States Mint currently sells American Eagle Silver Bullion Coins to 11 Authorized Purchasers worldwide.
The Silver Eagle Authorized Purchasers in the United States are:
Coins ‘N Things, Inc., of Bridgewater, Massachusetts
A-Mark Precious Metals in Los Angeles,
SCB/Mocatta Bullion in New York,
Jack Hunt Coin Brokers in New York,
Salomon Smith Barney in New York,
Prudential Securities, Inc. (New York),
The Gold Center (Illinois) and
HSBC Bank in New York, with sales domestically and abroad.
The international Silver Eagle Authorized Purchasers are Commerzbank International (Luxembourg), Deutsche Bank A.G. (Germany), Union Bank of Switzerland (Zurich) and Hang Seng Bank (Hong Kong).
So, essentially, you purchase from the authorized purchasers, not the US Mint, but that's the problem, the rationing, which is causing the $5-6/oz. premiums, which is our opportunity, so we need to find a more reliable private mint.
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The Royal Canadian Mint:
I don't have much info. In their annual report, they do have a short position of a few million dollars.
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Private Mints
Golden State Mint
Prospector 1 oz. rounds.
714 879 6595
info@gsmcoins.com
1101 East Ash Ave, Ste C
Fullerton, CA 92831
As of Oct. 13: 4 weeks out manufacturing time!
For 15,000 to 20,000 oz., the minting price is $1.25 each.
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silvertownemint.com
silvertownemint.com
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coinable.com
Below $1.77/coin for over 1000.
1 - 866 - 469 - 6468
20783 N 83rd Ave
Suite 103-484
Peoria, AZ 85382
challengecoinminting.net
$1.21/coin for over 5000
allaboutchallengecoins.com
$2.45 for 1000+
coinsforanything.com
$2.20 ea. for 1000+
osbornecoin.com
America's Oldest
Private Mint
The Osborne Coinage Co.
2851 Massachusetts Avenue
Cincinnati, Ohio 45225
Tel: 800-488-2646 / 513-681-5424
time: 4-5 weeks, reorders 5-10 days.
Price: $4.33/oz. for over 2500!
antiquanova.com
European Mint
bexengraving.com
Call or Fax for a Quote
1-800-330-0003
tokens.com
Nevada Coin Minting is the largest private mint in the United States serving customers worldwide.
We manufacture custom coins, tokens, medallions, and commemoratives for all applications.
(702) 369-0500 Fax (702) 366-0626
P.O. Box 46110, Las Vegas, NV 89114
hoffmanmint.com
coloradomint.com
(303) 279-8181
alaskamint.com
Horizontal coin minting presses!
schulergroup.com
Contact - North America
Schuler Incorporated Sales
Tel.: 734-207-7200
I'm guessing these guys know who their own customers are.
==============
100 oz. bar makers:
Ohio Precious Metals -- Makes a 100 oz. bar. Backlogged 4-5 weeks?
opm-llc.com
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If you find other mints that are better than these, please let me know. Thank you.
Just reply to this email, or email me at j@silverstockreport.com
I have decided to list these mints, because I'm NOT using these mints. I cannot divulge my source. They are turning away business, and asked me to not reveal their name. So, it would not do you any good even if you did know their name.
============================
1000 oz. bar suppliers:
I do not recommend that you get bars from the COMEX. The reason is the extra time, and risk of a COMEX default. Avoid Kitco, as well.
apmex.com
tulving.com
golddealer.com
I just ordered another 14 COMEX bars from Tulving today. They are GREAT!
If you find other 1000 oz. bar suppliers that are better than these, please let me know. Thank you.
Just reply to this email, or email me at j@silverstockreport.com
============================
============================
Mints to Avoid
The Perth Mint -- $1.5 billion precious metals liability? Insane. Avoid.
Where's the Abundance of Perth Mint Rounds?! September 6, 2008
Nadler, Kitco, Perth, Matthey; Sold Out! September 3, 2008
Perth Mint Crisis Watch 5 June 6, 2008
Perth Mint Crisis Watch May 23, 2008
Perth Mint Crisis: Solutions and Ramifications May 23, 2008
To the largest newspapers in Australia May 22, 2008
To the government of Western Australia May 21, 2008
Poor Prospects for Kitco/Perth/Matthey May 19, 2008
Kitco / Perth Mint / AGR Matthey / Bullion Bank Connections May 17, 2008
Will Kitco Sue me?! May 16, 2008
Silver Shortage Drives Men Nuts March 31, 2008
Perth Mint and Kitco Scheme Exposed March 26, 2008
NWT Mint: 2 month turn around times, to 4 months. I'd avoid.
Sunshine Mint: makes the blanks for the U.S. mint. 5 month turn around time. Avoid
KITCO: AVOID LIKE THE PLAGUE.
Here's a letter about Kitco I received today:
Subject: Kitco is absolutely worthless
Hi Jason,
I just thought I would report my most recent experiences with Kitco. First, I ordered 300 ounces of silver maple leafs and paid for them on August 21. They were shipped September 9th and I received them September 15th. While this was a long wait, I did not complain too much since it was my first order. On September 21, I ordered and paid for 50 Krugerrands and received them November 10th - Not happy at all. Meanwhile, on October 16, I ordered (2) 1000 oz bars and paid for them same day just as always. It took Kitco a full month to reply to me only to ask for more money for the ounces over 1000 per bar before they would complete the order. I paid them the extra $959 and received an email 2 days later stating that the bars would be here in another 2-3 weeks! That is nearly 2 months wait for bars paid for in full. What really pisses me off is the fact that their website along with Jon Nadler's absolute assurance that Kitco had a "healthy" supply of 1000 oz bars was the only reason I decided to buy more from them. How hard is it to call the depository and tell them to ship 2 bars?
I will tell you what I think... I believe Kitco is out of cash and is scrambling to fill orders. They are sitting on my cash for nearly two months to fill an order for a measly 2 bars. If gold and silver doubles shortly Kitco will be screwed along with anyone that sent them money.
Now for Tulving... Ordered (2) 1000oz bars 5 days before I ordered the bars from Kitco. Received the bars 10 days later with a note asking for the balance due over 1000oz. Sent him a check and all is well.
Conclusion - Tulving has bars in stock and will have them to you within 10 days. He will bill you for any ounces over 1000 after he ships with perfect service. Kitco will sit on your money for 1 month and then send you an invoice for any ounces over 1000 before fully processing your order. They then will take another 2-3 weeks to ship products they supposedly have in stock.
It is funny to hear Nadler tell me that their bullion is readily available again with low premiums. Yes, they are taking orders for gold maple leafs, 400oz bars, gold phils, and 1000oz silver bars, but you better be happy waiting 2 months with no response.
TS in Auburn, IN
Yes, look at that default risk. If Kitco is already close to being bankrupt, what will happen to your order in the event of a COMEX default?
=============
There remains "NO SILVER IN CANADA" which has been the case for months now.
One reader just reported to me:
FYI Thinking it's time to start buying silver again I called my local
coin shop here in Calgary to check availability and price and yes, they
have silver Maple leafs available at $17.80 cdn. each or with a .50
discount if I want to wait 12 weeks for delivery. Incredible.
RC
==========
Oh yes, one more small business opportunity in the metals: limit $2400.
Jason,
Don't know if you are aware of the microsoft money giveaway.
I just bought 12 1 oz gold coins off ebay using the microsoft live search engine 25% promo. After the immediate rebate of $2400 from microsoft deposited into my paypal account today I paid only $751.36 per 1 oz coin. Spot is currently $801!! Thanks to microsoft I just bought 12 oz. of gold coin-eagles, buffalos, etc at $50 under spot. Thank you Microsoft!!!!
Go here: live.com
Type in 1 oz gold and go into ebay. Buy 1 coin,
Paying the Buy now price and then get immediate $200 rebate when you pay now with paypal. Go back to main live search page and do it again up to 12 times. Max rebate is $2400.
Greg
I've never used the microsoft/paypal thing, but I've heard about it from several sources, so it's legit. I'm not sure how it works, but you might be able to use that money givaway at my mom's ebay store!
Mom's eBay Silver Shop
This Microsoft / Paypal thing reminds me of the $100 rebate checks that AT&T was offering back in my college days, for switching back to AT&T. I switched "back" to AT&T three times in 6 months in one period. At the time, it was certainly worth $300 to me.
Sincerely,
Jason Hommel
www.find-your-local-coin-shop.com
www.silverstockreport.com
www.miningpedia.com
www.bibleprophesy.org |
