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DesertTumbleweed402
Penny Pincher Member
USA
196 Posts |
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daviscfad
1000+ Penny Miser Member
USA
1664 Posts |
Posted - 10/16/2008 : 21:34:43
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you beat me to it i was about to post that
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Inquiring minds want to know |
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natsb88
Administrator
USA
1850 Posts |
 Posted - 10/16/2008 : 21:40:56
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Do a search for 'bull' or 'minutemen' and you might find some even cheaper 
EDIT: Actually, looks like those are sold out already. That didn't last long  |
Nate
The Copper Cave
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Edited by - natsb88 on 10/16/2008 21:41:54 |
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n/a
deleted
85 Posts |
Posted - 10/16/2008 : 21:45:27
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| The more silver tanks the more those who have it will jump to get that extra $4.00 + out of theirs while they can sell the "shortage" story. |
"The key to building wealth is to not lose money." - Warren Buffet |
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fb101
Administrator
USA
2856 Posts |
Posted - 10/20/2008 : 19:06:09
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I ordered 10 Saturday, then had second thoughts and tried to get another 10 this morning.
SOLD OUT.
The surprising thing was they were warning about waiting until Nov for shipping and I got the
shipment notice this morning. |
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dmccarty
New Member
USA
22 Posts |
Posted - 10/22/2008 : 10:19:30
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Hi Guys.. . I know this is a long read (sorry for that). I want to address the root issue that CopperBar brings up about the market right now.. I think that the Real Cent Forum members have a pretty good grasp on what is happening – but some visitors may not understand what is going on in the financial world – and so they are looking for honest, straight-forward answers that make sense without the Wall Street Mumbo Jumbo and Double Speak from the government.
NOTE: This basic answer was posted on a different forum, where it was picked up on by a writer for Motley Fool – who is doing an article about this very topic…which goes to show that the truth is beginning to come out in more main stream press. On these forums, we have known the truth for some time; now this truth is going more and more main stream.
Honestly, CopperBar, I do understand how you would feel that this is a "shortage story" designed to increase premiums and sell out... this would hold some water in many cases, except that it is really happening with every other PM dealer in the US and worldwide.
This isn’t the case of Mattel Toys over marketing the “Tickle Me Elmo” doll right before Christmas and under producing the toy to artificially create a huge demand. Google this marketing technique and see how the Toy companies in particular do this on a very regular basis – in fact, watch for it this Christmas season to see which toy parents are fighting over in long lines to see what I mean. It works so well for the toy companies it has become a staple tactic.
At APMEX, we have been hearing this kind of question and seeing it posted around different forums and blogs. Quite a few people misunderstand the market and the difference between spot and final price of precious metals. I would like to offer you some answers and industry insight if I may.
There’s really no point in sugarcoating it—these are volatile economic times. The Markets are highly unstable and behaving in ways that are, honestly, baffling at times. The current disconnect between the “paper market” and the “physical market” has never been more apparent as they are today. This is plain to see in the difference between spot prices and physical product.
There is a very obvious disconnect between the physical product and the "market". The market is overwhelmingly controlled (price controlled that is) by paper contracts for silver / gold. As more and more companies around the globe get tighter and tighter financial conditions - they have to raise capital. They have to raise this capital to either 1.) pay their expenses & payrolls OR 2.) to apply for additional loans under tighter lending scrutiny.
To raise capital, they sell off paper assets like silver and gold contracts at fire sale prices, since in a tightening economy many companies are seeing their product sales plummet. This lowers the overall spot prices for the market. If you calculate the number of ounces of silver for example that are on paper contracts you will see there are thousands of more "paper" ounces than there are "physical ounces".
As many people are aware, the mints and distributors are rationing quantities of all precious metals and THEY (the Distributors) are asking US (the Dealer Network) to bid for products we want. APMEX is continually finding itself in “bid wars” with other dealers, as we continue to locate product for you, our customers.
Right now, the Dealer Network is simply trying to find product to provide customers who desperately want an escape from the volatile stock markets. Also, many new customers have started to flood into the market. These newcomers, along with seasoned veterans, are looking for physical product in effort to protect themselves from the insecurity of the stock markets. This is becoming a global issue – we are hearing that major Dealers and Distributors across Europe, Asia and around the World are seeing massive physical shortages as well – so this is not just limited to the US.
As an example of this—recently APMEX paid up to $5 over spot for 17,000 Silver American Eagles just so we would have something to offer. Within 24 Hrs of making those SAEs available online, they sold out at $6 over spot! We have been seeing this happen almost on a daily basis for the past two months. Two weeks ago in fact, our servers almost buckled as a result of all the orders being placed at the same time.
The market’s volatile behavior is a continuing disturbance for us all. We know the unnatural behavior of the markets is alarming. We understand your frustration. After all, we want nothing more than to see the renewed stability of the market and a steady flow of products to be available at reasonable prices. Until that happens, we will do our best to assist you in getting the products you want at the best prices we can negotiate with our extensive relationships.
Obviously, right now, your best bet is to go with live products.
These are items that dealers like APMEX have in stock and ready to ship. As you can well imagine, premiums for live products are higher. This is because very few dealers actually have products in physical possession right now.
Be wary of delayed products. Certainly the lower premiums are tempting, but prices are low because dealers do not have those products in stock. For this reason you should be careful, there are many consumers who wait indefinitely for product to be delivered from unscrupulous dealers. At APMEX, we do have a few products on a delayed delivery. However, please be assured that these are with mints and distributors with whom we have long standing and deep relationships. These quantities are committed to us. When we sell out of our position, we quit selling. That is not the case with every dealer.
We will do our best to keep you advised of what is happening from our unique perspective in the market. For right now, the best thing we can do is locate product and negotiate the lowest possible premiums we can and ensure that those products are delivered to you as ordered.
Fb101 – you are correct. It seems that as soon as we load product on our site, it sells out. My marketing team and I spent yesterday unloading and packaging 1300 – new 100oz JM silver bars… (Yes that’s over 4 tons of silver and yes, my back is KILLING ME!!!).
We got these bars in earlier that we expected and are doing everything we can to ship them out (they sold out super fast even on delayed delivery) earlier than we anticipated.
When we can deliver early we always will...it really doesn’t make sense for us to sit on product – it simply takes up space in our depositories. That is one of the unique things about APMEX compared to other dealers. I am seeing many people who are having a heckuva hard time getting what they ordered from other dealers… so be careful who you order from – stay with reputable companies who will stand on their word!
Sorry again for the long post  .. just had to clear the air and get the truth out there, ya know.
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Dave McCarty
http://www.APMEX.com |
Edited by - dmccarty on 10/22/2008 12:53:46 |
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rodzm
Penny Pincher Member
USA
143 Posts |
Posted - 10/22/2008 : 10:39:56
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quote:
Originally posted by fb101
I ordered 10 Saturday, then had second thoughts and tried to get another 10 this morning.
SOLD OUT.
The surprising thing was they were warning about waiting until Nov for shipping and I got the
shipment notice this morning.
They had over 6,000 of them over the weekend and sold out earlier this week. Im amazed how fast these rounds are going for. In this market you cant think twice, you have to act very fast when you see a good deal. I bought 100 of them before they sold out earlier this week at an average of $14.57/ oz and that includes the higher charges for using a credit card. Is that a good deal??? I wanna say so, since you really cant find them anywhere but Ebay. I also bought one 10 oz Silvertowne bar from APMEX...those sold out withing the hour of them placing them online. 1 bar at $15.71
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Apmex has silver rounds for $13.78!!!
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