Silver Shortages Misunderstood

[webmaster]

Subject:Silver Shortages Misunderstood
By: Jason Hommel, Silver Stock Report

Overview: The biggest proofs of the silver shortage are the position limits at the NYMEX. These are 7.5 million ounces in the spot delivery month. Another usually unenforced limit is that the exchange can arbitrarily limit all physical deliveries to all market participants to as little as 1.5 million ounces, in their discretion, if they want to.

Link: http://news.silverseek.com/GoldIsMoney/1211991685.php

[Silvercaper]

Re: "2. On 100 oz. bars, there is a delay of 6-8 weeks from the major manufacturers, Johnson Matthey and NWT Mint."

As far as Northwest Territorial Mint's delivery schedule, from my experience, they do not have a set schedule as I have been waiting ten weeks for the delivery of 100 oz. Pan American bars and they have not been shipped yet. Although, it is NWTM's policy, and I quote from their invoice, "It is our company policy to ship all orders within ten (10) business days after receipt of good funds. However, depending on current market activity or product availability, it may take up to 30 days to ship your order.", I was told that it would take six weeks for delivery by my original sales person. I have called NWTM every week since the week (April 28 through May 2) that the order was supposed to have shipped and get the same response every time that the order is supposed to ship this week. When I ask my salesperson why the order hasn't shipped, I am told that they are still filling orders that were ahead on mine. This is from a company that produces the Pan American bars and yet they can't give you an accurate date when the product will be shipped. I'm wondering if in fact they even have the silver to make into bars? Although, according to my salesperson, they do have the silver in stock and they'll even melt down Johnson Matthey bars to make the Pan American bars. I guess you can read a lot of things into that last statement. Anyway, NWTM has had wired funds for ten weeks and counting and I'm still waiting for them to ship my order.

[Erniescar]

I recently recieved my 100oz bars from NWTMint, order placed on March 17th. They told me it would likely be over 60 days for delivery when I ordered. So they were 60 days plus a week or so. NWTMint has always been slow, but they have always delivered eventually. I've called for updates a few times, but as you said it's generally a waste of time. You would think they would know how many 100 oz bars they produce every week and how many orders are pending and be able to give you a better status. I've got a few more orders outstanding, probably get them just in time for Christmas The Pan American is a nice bar though.

[Silvercaper]

I finally received the delivery of my 100 oz. Pan American bars from NWTM. I'm pleased with the quality of the product. It's a shame that they hurt themselves with such long deliver times. They had cleared funds for eleven weeks and one day before the product was received.

[My Pants Are Cold]

Is TAT any better for their 1s,5s,or 10s?