Recently I quoted an email from reader "P" who earlier reported in from the DFW area that there was little physical gold there.
He just now sent me an interesting idea. That some of us, he suggest 12 would be enough, prepare a standardized set of a few questions that we would ask our local PM dealers. This could be done domestically AND internationally. I always am looking at the Stats area of my blog, and I have readers from all kinds of interesting countries. Reports from overseas would provide good context (hey, look, it was "Jonny Bahrain" who FIRST mentioned non-investment gold was UNAVAILABLE in Bahrain).
I will just pop-off a "Prototype Questionnaire" for reader comments and improvements:
1) On a scale of 1 - 10 (10 being nice and heavily stocked), how well are you stocked with American 1 oz Gold Eagles (overseas: whatever the local "flagship" form of gold).
2) Same scale, how well are you stocked up re other forms of gold?
3) What is the $ premium of AGEs to spot (or %, but we could calculate that)
4), 5) and 6) Same for silver
We could also get similar info from APMEX, Tulving and Gainesville as well as look at the 24hgold / eBay widget.
Any shortages would likely show up very quickly after a survey is sent out...
We could do this every month or two, but perhaps we should do such a survey VERY SOON, to establish a baseline, meaning that we presume that things are now pretty normal. Then if supplies start to get squeezed (or premiums go up), well that would be useful information for us all.
This kind of information could go onto an Excel spreadsheet very easily... Easy to share...
PLEASE send me your feedback! Especially if you would like to do the survey in your city. I do not need names, etc. Just what city you would monitor. And what a simple but good survey should include. Hey, I just winged all of the above! Nothing is set in stone. Anyone who has SURVEY EXPERIENCE is even more welcome to make suggestions.
---
Games, frontiers... Suggests the below video:
http://youtu.be/LKb9XQ39-zc
Showing posts with label shortage. Show all posts
Showing posts with label shortage. Show all posts
Sunday, October 9, 2011
Wednesday, October 5, 2011
Breaking News: No Silver! (Or At Least Much)
Reader Cyndi reports on silver:
Hey guys,
I just tried to buy some junk and regular silver from the coin shop
near my parents house. He's completely sold out! No silver
whatsoever! Also, he said he'll let me have the junk for spot!!!
Talk about increased premiums! Last time I bought from him (April) he
gave me $10 UNDER spot!!!! Shit! I'm a bit stuck as Gainesville
Coins won't ship out here, and Apmex has a high premium, and once I'm
done paying that AND shipping, and then postage back to my mom, well,
you get the idea...sheeesh. That said, Apmex has some really cool
Striding Liberty half dollars I want SOOOOO badly( (for myself) I just
might have to whip out the old JPM credit card, lol. The Onza should
ship in a few days. I like buying shiny stuff.
:o)
End Cyndi's email to me.
OK we now have three boots on the ground reports (and yes, DCFusor, you may very well be right about sellers NOT wanting to sell below cost):
*** Jonny Bahrain noted no investment gold in Bahrain
*** Reader "P" reported no gold at an important coin shop in Dallas
*** Reader and "Virtual Friend" Cyndi reports on silver above.
eBay/24hgold widget shows premium of 23.6% for gold and 83.5% for silver.
Update!
All around smart guy DCFusor was able to make this image available to me in a format that would fit in my blog! Thanks DC! This may be a record... From Clive Maund to Rocky Racooc to DCFusor to my blog!
Oh, and baa-ah! Baaah-aaahh-baaah!
Bah! The picture below worked for a while anyway. Such is the life of a Junior Blogger, there's always something...
Hey guys,
I just tried to buy some junk and regular silver from the coin shop
near my parents house. He's completely sold out! No silver
whatsoever! Also, he said he'll let me have the junk for spot!!!
Talk about increased premiums! Last time I bought from him (April) he
gave me $10 UNDER spot!!!! Shit! I'm a bit stuck as Gainesville
Coins won't ship out here, and Apmex has a high premium, and once I'm
done paying that AND shipping, and then postage back to my mom, well,
you get the idea...sheeesh. That said, Apmex has some really cool
Striding Liberty half dollars I want SOOOOO badly( (for myself) I just
might have to whip out the old JPM credit card, lol. The Onza should
ship in a few days. I like buying shiny stuff.
:o)
End Cyndi's email to me.
OK we now have three boots on the ground reports (and yes, DCFusor, you may very well be right about sellers NOT wanting to sell below cost):
*** Jonny Bahrain noted no investment gold in Bahrain
*** Reader "P" reported no gold at an important coin shop in Dallas
*** Reader and "Virtual Friend" Cyndi reports on silver above.
eBay/24hgold widget shows premium of 23.6% for gold and 83.5% for silver.
Update!
All around smart guy DCFusor was able to make this image available to me in a format that would fit in my blog! Thanks DC! This may be a record... From Clive Maund to Rocky Racooc to DCFusor to my blog!
Oh, and baa-ah! Baaah-aaahh-baaah!
Bah! The picture below worked for a while anyway. Such is the life of a Junior Blogger, there's always something...
Breaking News: No Gold!
Reader P sent me this email:
Robert,
I stopped by my usual dealer today in the Dallas Fort Worth area. He was out of everything. I've been a big buyer in the past so he's willing to spend quite a bit of time to describe market conditions. First, he can secure gold eagles, but it would take a few weeks to deliver more than ten. Platinum has been gone for a long time and he'll lock in the price, but needs 90 days to deliver. Silver was nearly the same story. I asked if he's seen bars and he told me, "not in a few weeks". Now this is a guy who could routinely fill $100K orders in 24 hours. I asked about the clients - many more 'big-fish' - people coming in to buy 10, 20 or a hundred Gold Eagles in one purchase. Any newbies? He said yes, and added that most of the people who buy now are new to Gold and Silver and really use up his retail time to explain how things work. His margins are higher than in the past - $1.50 oz for 90% bullion and up to $2.50/oz for silver bars (depends on the type). Gold Eagles are sold at $95 over spot. Since the latest price declines he has had any sellers. He offered that the price of silver shouldn't have declined by $12 in the past few weeks - it should have gone up by that much. He's optimistic that prices will start moving up again soon, but supply will continue to be a problem.
Best regards,
P
---
Thanks P!
Robert,
I stopped by my usual dealer today in the Dallas Fort Worth area. He was out of everything. I've been a big buyer in the past so he's willing to spend quite a bit of time to describe market conditions. First, he can secure gold eagles, but it would take a few weeks to deliver more than ten. Platinum has been gone for a long time and he'll lock in the price, but needs 90 days to deliver. Silver was nearly the same story. I asked if he's seen bars and he told me, "not in a few weeks". Now this is a guy who could routinely fill $100K orders in 24 hours. I asked about the clients - many more 'big-fish' - people coming in to buy 10, 20 or a hundred Gold Eagles in one purchase. Any newbies? He said yes, and added that most of the people who buy now are new to Gold and Silver and really use up his retail time to explain how things work. His margins are higher than in the past - $1.50 oz for 90% bullion and up to $2.50/oz for silver bars (depends on the type). Gold Eagles are sold at $95 over spot. Since the latest price declines he has had any sellers. He offered that the price of silver shouldn't have declined by $12 in the past few weeks - it should have gone up by that much. He's optimistic that prices will start moving up again soon, but supply will continue to be a problem.
Best regards,
P
---
Thanks P!
Subscribe to:
Posts (Atom)