You can now find silver at auction 5 days a
week at www.seekbullion.com. (but
maybe not during Christmas, we'll see.)
I don't know how long it will last.
You will find over 19,000 oz. of silver available in current
We hope to be able to double our weekly production capacity in about
another week or two.
We are offering 1 oz. rounds, in lots of 500, and 100 oz. bars, in lots
of 10 or 20.
I'm particularly pleased to be able to offer so much silver just as the
price appears to be moving up out of the bottom, and into a new price
Many people continue to express confusion about how I'm able to do
this, and why, when it's the time to buy silver. Again, I buy more
silver than I sell. After I make a sale, I buy in bulk, about 10 of
the 1000 oz. bars at a time, and I send it off to be minted. As long
as the auction price continues to be higher than my total production
costs, I may make money. If not, I'll be put out of business by the
market, and I'll have to either pull listings, or list with a minimum
"spot plus" price format. Right now, it's very close.
That means you can get silver very close to cost, or even under!
The lower premiums of about $1.50 to $2.00 over spot offer a great
chance to buy silver now, at a great price.
Our production costs are about $1.45 over spot, not including shipping,
which adds about $.20/oz. to the cost!
I've lost a few pennies per ounce on a few auctions, but that's the way
it goes. Hopefully, I'll earn more than I lose, to be able to
continue. That's life, that's business, it's a risk I'm willing to
We already lost a bit selling some 100 oz. bars as low
as $1.35 over spot, hopefully to make into rounds that are in shorter
supply, and selling for higher premiums.
Again, we pre-package everything! So we ship the same day your
wires come in. As far as I know, nobody else in the entire industry
is faster (unless you visit your local shop and pick it up the instant you
pay for it!)
We are tired of the excuses of other dealers, who claim that their 2-4
month delays are a result of being "too busy". It is impossible for
us to ever get too busy. We don't think that is a valid excuse for
delayed delivery. We have purposefully designed our auction process
so that we will always have only one buyer for every listing. Our
product availability and customer demand will always match!
You can try to buy silver below cost from the other dealers who offer
delays. I can imagine that they only way they can stay in business
is to float on customer money! What a risk to take!
Or, you can pay what it really costs, in a real market, and get real
silver, immediately, with no excuses.
Our policy of immediate
shipping means that it is IMPOSSIBLE for us to float on your money!
Several people have suggested that the availability of 1000 oz. bars,
by my wholesaler must prove that silver is not in short supply.
Funny. I wonder if they think that I have the capacity to provide
enough silver for all of world commerce? Not even my main supplier
who has about $1/2 billion in various forms of bulk bullion has so much
World commerce needs trillions!
Silver can't do the job! Not at today's prices!
Silver 1000 oz. bars are in short supply, as is proved by the position
limits in the futures markets. If they really want a free market,
they should let people bid as high as they want for the limited silver
available. But they don't, not at the COMEX market. Why
not? Because if that happened, it would reveal the fraud of the
Thus, to protect the value of the dollar, they create excessive futures
contracts (there's that delayed delivery excuse again), unbacked by
silver, and they discourage taking deliveries as much as possible.
Silver has been in short supply ever since 1964, when silver cost more
than the value of the coinage it was being made into. Above
$1.39/oz. it was no longer cost effective to turn 1 troy oz. of silver
into $1.40 worth of U.S. dimes, quarters, and half dollars.
It is important to note, that during the depression, silver prices were
$.25/oz.! That was not a result of the depression or
deflation. It was a result of a glut of world silver being dumped as
India left the silver standard.
At that time, silver premiums, or the seniorage (government minting
profits), or the value of the silver in coin form over spot, were about
500% over spot! $1.40/$.25 = 5.6 or 460% over spot!
Imagine if you had to pay $46 to acquire a silver Eagle, or a 1 oz.
coin, when silver was $10!
I'm glad we are not on a "silver standard" of government price fixing,
and a fixed price of seniorage added to the coinage. Thank God for
Back during the depression, a silver quarter was also like a day's
wage! Imagine, you can now get real value of over 5 days' wages in
an ounce of silver for under $15/oz.! There is no better way to
protect your money, than with silver.
They can't demonetize silver again, to depress prices, since no nation
uses silver as money today. Monetary demand can only go up.
Using silver as a store of value will only increase!
Today, you can get silver for much less over spot than in the
1930's! Take advantage of the freedom we have today to get silver so
cheap. Really! I mean back up the truck and load the
boat! This opportunity does not come along very often in world