Silver Auctions And Silver News

[webmaster]

Subject:Silver Auctions And Silver News
By: Jason Hommel, Silver Stock Report

Overview: With all the talk of impending defaults of both the COMEX, and the ETF's, and with the price dip now from $20 to $10, there just couldn't be a better time to buy physical metals. This weekend, I read the annual report of my major silver wholesaler supplier of 1000 oz. silver bars. They have half a billion worth of physical metal on hand, with only a million or two worth of financial paper assets prone to default, so their potential to default on me is close to zero.

Link: http://news.silverseek.com/GoldIsMoney/1229465062.php

[valerb@bellsouth.net]

Originally Posted by webmaster

This weekend, I read the annual report of my major silver wholesaler supplier of 1000 oz. silver bars. They have half a billion worth of physical metal on hand

So here we have one of how many wholesalers that has approximately 45 million ounces of 1,000 bars available.

The shorts are not going to default anytime soon with this much inventory waiting to be bought at wholesale prices.

It sure would be nice to know how much silver these wholesalers have on hand in total.

[Richard]

Originally Posted by valerb@bellsouth.net

So here we have one of how many wholesalers that has approximately 45 million ounces of 1,000 bars available.

The shorts are not going to default anytime soon with this much inventory waiting to be bought at wholesale prices.

Forigve me for correcting, but isn't 1/2 a billion 500 million oz, not 45 million? Although you might be refering to something else in the article. I don't recall, as the 1/2 a billion is what stood to me. Anyway, yep... that's alotta shiny! Which is why I think that Mr Hommel is doing what he is; in meeting the demand for small silver he's increasing his own supply. And since, as you said, the Comex won't be breaking any time soon... Well, he's pretty much set for the rest of his life.

[JesterJay]

Half a billion WORTH of silver. The key word is "worth".
Divide that by $12/oz.
The answer is:
What is $41 2/3 billion OUNCES. Which is only 41,666.666 of those big ol' shiny 1000 oz. bars.
Thanks for allowing me the honor of being...me!
JesterJay

Originally Posted by Richard

Forigve me for correcting, but isn't 1/2 a billion 500 million oz, not 45 million? Although you might be refering to something else in the article. I don't recall, as the 1/2 a billion is what stood to me. Anyway, yep... that's alotta shiny! Which is why I think that Mr Hommel is doing what he is; in meeting the demand for small silver he's increasing his own supply. And since, as you said, the Comex won't be breaking any time soon... Well, he's pretty much set for the rest of his life.

[Argentum]

And what are they using for "worth". The current spot?? In any case it's a pile o' silver

[Richard]

Originally Posted by JesterJay

Half a billion WORTH of silver. The key word is "worth".
Divide that by $12/oz.
The answer is:
What is $41 2/3 billion OUNCES. Which is only 41,666.666 of those big ol' shiny 1000 oz. bars.
Thanks for allowing me the honor of being...me!
JesterJay

Ooops, my bad... er, I mean... I was just testing to see if anyone reads my posts. Thank you for restorng my confidence TesterJay!

But isn't 41 2/3 billion OUNCES mis-spelled?

To heck with it, we're both right. That's ALOTTA SHINY BARS!!!

[valerb@bellsouth.net]

The actual quote from Jason's message was:

They have half a billion worth of physical metal on hand.

Now I don't know how anyone could take that to mean anything other than $500 million worth of Silver.

At the time, Silver was a little over $11 an ounce and when I divided that amount into $500 million, it came up to 45,000,000 ounces. As the price increased during the day, the amount of silver would not decrease, it would still be 45 million ounces, but worth more than a half billion.

[Richard]

Originally Posted by valerb@bellsouth.net

The actual quote from Jason's message was: They have half a billion worth of physical metal on hand. Now I don't know how anyone could take that to mean anything other than $500 million worth of Silver.

Uh... lol... Look, here's where I made my mistake. A growing part of my subconscious is apparently not recognizing dollars as anything, so 1/2 billion of worth of phyiscal on hand I took to mean... 1/2 billion oz of physical metal on hand. This subconscious (I'm not kidding... I really did read it that way) disconnection is so ingrained that I even repeated the mistake in my response to JesterJay. Yes, I feel stupid, but that's what happened. The other part of my error was in not realizing that that is larger than Comex, and thus highly unlikely to be even remotely true.

But that's a human mind for ya... it makes mistakes, as I thought at the time your's had. I wasn't trying to put you down or anything. It was my bad! Okay?! Fair enough?!

GAWD! lol

[silvermaybe]

After visitng the various auction sites, it is plain to see people are paying far too much for silver at them. You can go to may other established wholesalers or producers and pay less without all the song and dance, plus deal with a known dealer.

[Argentum]

Please share these dealers