No silver left in town!

Discussion in 'Commodity Futures' started by peilthetraveler, May 9, 2011.

  1. I went out today hoping to pick up some silver and there was very little silver to be bought. One shop I went to had only 15 1-oz rounds and 1 100-oz bar.

    Another shop, only 10 to 15 oz of silver. They said alot of people came in buying last week. One guy said he ordered last week and hoped to get more on friday. Another said it was a 2 to 4 week wait to get 500 ounces.

    Anyone else having problems getting silver in their town?
  2. Just called sunshine minting. They are so backlogged that they are not even taking new orders. I asked when they might take new orders and they said SEPTEMBER! Thats just to ORDER, not even receive it!
  3. indicator lag?
  4. zdreg


    lagging indicator?
  5. ==============

    Sort of , actually several towns........;
    meaning @ a good bid ask/price.

    murray tt

    Good buying area;
    not as great as 2008/,
    or 2009/fine but acceptable uptrend.

    Good long term uptrend resumed:cool: :)
  6. So the retail crowd believe it's a dip to buy. When the retail crowd and the market action diverge so much, I'll go with the market action.
  7. That old adage works pretty well, but you are forgetting one thing. Where do you think the retail crowd is at right now? They are all at home buying & selling SLV with no clue of what demand really is for silver.

    Look at University of texas that just took delivery of $1 billion dollars worth of physical silver. Look at all the central banks around the world buying physical. Look at all the hedge funds buying physical. They are not buying SLV. The RETAIL investor is messing around in SLV. The smart money is buying physical.

    So yeah...its good to stay away from where the retail investors are going, just make sure you know 100% where those retail investors are.
  8. jprad


    Dunno, these guys seem to have silver bars and rounds in stock or will over the next few weeks.

    Let me guess, you're going to bitch about their prices, right?
  9. Syprik


    Why are these hearsay coin shortage anecdotes to be used as evidence for overwhelming physical demand? Sounds like run of the mill ignorance from the ZeroHedge conspiracy crowd.

    Is it possible that refiners simply allocate "x" % of high-grade 0.999+ for coin production at the beginning of each quarter and they simply underestimated the strength of an investor segment that consumes a measly ~7.5% (74.5MM ounce) of total supply?

    Coin tightness also stems from the fact refiners would rather produce silver shot (sponge, flake, grain etc) vs 1,000 ounce bars (or formats preferred by coin minters) because of the larger % industrial demand...a demand relationship that has historically been low-risk/reliable for refiners. They do not waste time, money, and energy casting bars as most of their clients prefer sponge due to increased electronic/solar panel demand.

    "Coin demand surged in 2010, and silver used in coins is estimated to have reached 74.5 million ounces, the highest level since 1967."

    I wouldn't get long-term bullish silver until the ratio with gold retraces to 50-60, and that's only if the Fed has kept policy loose at that juncture in time. Strongest world currencies and careful gold exposure are IMO the safer play to hedge a depreciating USD.
    #10     May 9, 2011