Straight talk from my dealer

[JesterJay]

My semi-local dealer, an hour's drive from me, told me today that he can't order Sivler American Eagles. Yet.
Last week his distributors told him "this week". Now, "next week" is the answer. John is a real straight shooter and told me he has only 2-300 ounces left. That is zero compared to what he usually has on hand. Thousands, in other words.
The Mint still doesn't have silver blanks to mint the Eagles. Can't do much silver coin minting without the silver blanks now can we? I am planning on buying a bunch of silver that he will get in tomorrow and exchange for Eagles later and pay the $1.90 upcharge then. Hope he has a 1000 ounce bar. I've always wanted to own one of those.
For a little while anyway!
JesterJay

[prahudka]

The Mint still doesn't have silver blanks to mint the Eagles. Can't do much silver coin minting without the silver blanks now can we?

How can they not have blanks? The 2008's are already out?

[JesterJay]

The biggest demand for Silver Eagles in history is how they ran out of blanks.
Thanks to Izzy for that!
It doesn't matter what year is "out". If they run out of the blank or planchet that they STAMP the Eagle design into, then they ain't got it!
And neither do we,
JesterJay


How can they not have blanks? The 2008's are already out?

[Irons]

The biggest demand for Silver Eagles in history is how they ran out of blanks.
Thanks to Izzy for that!
It doesn't matter what year is "out". If they run out of the blank or planchet that they STAMP the Eagle design into, then they ain't got it!
And neither do we,
JesterJay

Good point, and the other thing to remember is the US has NO silver in stock, they have to buy it on the open market just like you and I do.
Bizzare huh? Last I heard they bought thier blanks from Sunshine.

[rycon]

I don't believe there is a shortage of silver. I think many dealers are not willing to part with the silver they have for the price that silver is at now

[JesterJay]

Today John told me he HAD TO buy some silver for some customers who NEEDED it. They paid $19.90 per ounce. I don't need it that much. At least not yet.
He seemed confident that in a week or two I would be able to get the boxes of Eagles I am looking for. He said there is still going to be cheap silver to be had. We shouldn't have to pay almost $3 over spot just for generic bullion.
I hope he is right- glad to have him in MY corner,
JesterJay
I am not so sure that there is just a Profit shortage right now.


I don't believe there is a shortage of silver. I think many dealers are not willing to part with the silver they have for the price that silver is at now

[SilverFreak]

Man I wish I could get the prices here in Canada that you guys pay. The local dealers here really like to hit hard. It is tough to find anyone that will sell less then 2 - 2.50 over spot. Most are $3 over spot.



Today John told me he HAD TO buy some silver for some customers who NEEDED it. They paid $19.90 per ounce. I don't need it that much. At least not yet.
He seemed confident that in a week or two I would be able to get the boxes of Eagles I am looking for. He said there is still going to be cheap silver to be had. We shouldn't have to pay almost $3 over spot just for generic bullion.
I hope he is right- glad to have him in MY corner,
JesterJay
I am not so sure that there is just a Profit shortage right now.

[prahudka]

The biggest demand for Silver Eagles in history is how they ran out of blanks.
Thanks to Izzy for that!
It doesn't matter what year is "out". If they run out of the blank or planchet that they STAMP the Eagle design into, then they ain't got it!
And neither do we,
JesterJay

Do they wear out or what?

[JesterJay]

They use all the silver planchets that they STAMP the design into.
The Silver is gone! None to form into the pretty birdies...:sad:
I bought it all!
Bwah ha ha!
JesterJay


Do they wear out or what?

[silver_surfer]

when do the 09s come out

[PSUDave]

when do the 09s come out

1/1/09 ;)

[silver_surfer]

good deal..I wonder if there will be any delays on them.

[valerb@bellsouth.net]

I don't believe there is a shortage of silver. I think many dealers are not willing to part with the silver they have for the price that silver is at now

That's not really the case. Your dealer can sell at any price and still make a profit. The only problem is the lack of their ability to purchase wholesale. They could have paid $15 an ounce when they purchased their silver. If they could order wholesale silver today, they could sell what they have on hand for whatever their normal premium is and still make a profit.