We Have Over 80,000 oz. of Silver, IN STOCK!
(Many other dealers are
Silver Stock Report
by Jason Hommel, March 2nd, 2009
Our auctions are live, again tonight at 7pm at
Tonight is the last night of a low $2.50/oz. over spot price reserve
price for the 1 oz. rounds. Tomorrow, we will be back up at $2.75
over spot. We see no need to offer silver lower, given two
things. 1. No significantly increased volume at the lower
price. 2. Most of our competitors remain sold out. So,
why should we give away the store? Besides, many of our rounds are
re-sold at ebay.com for up to $20/oz.!
We have 5 new
designs, starting in tomorrow night's auctions:
CFTC "appreciation medallion" of prior
2. A "Do
you Love God?" round, an extremly overt Christian Themed round.
3. A 3rd
Pirate design that is offset, like the privately
minted pirate coins of old.
4. A 4th Pirate design of a ship
on one side, and a compass on the other.
Blanks. No design at all. Stamp your own, or keep them
Tomorrow, our TV
commercial starts at Bloomberg national
Some people remain intimidated by the
auction process. It's very easy. Simply sign up with
your U.S. shipping address, and place your bid! It's very easy to
figure out. Just don't get caught in a massive bidding war, as there
is now not yet any need. If you get an email notice that you are out
bid, try to bid on another item. On Saturday, all but four of our
auctions had bids over the reserve price, so since the auctions are still
not yet oversubscribed, it's the best time to buy.
But we can get
cleaned out very quickly, and now is the best time to buy, on a price dip,
when it's quiet. Mondays are usually the slowest days, too.
Here are two radio links from the Phoenix
show, these were a large panel hosted by Al Korelin:
Here is an excellent article I
Risks of Investing in GLD ETF
it says applies to the silver ETF.
So, there might be said to be a
growing debate on the internet about the validity of the ETFs. In
this debate, it's not up to us to prove they don't have the gold or
silver. It's up to the custodians to prove that they have it.
I think they fail the basic litmus test.
Part of the problem as
pointed out by the author of that article is that you cannot redeem ETF
shares for any real gold. The other big question is that the ETFs
have so much gold, that there is a big question as to where it came
from. A third problem is that these funds can be sold short, both
covered and naked, which destroys the arbitrage opportunity that is
supposed to exist which allows the funds to grow and accumulate
Interesting how things come together.
While at the Phoenix show, a man gave me his book. "Financial
Foghorn's Guide to Gold". I quickly asked him what he thought of
the ETFs, and I found the page in the book as I was asking. Sure
enough, he said he did not trust the ETFs. And this is
IN A BOOK!
I actually used that
question as a litmus test of my own, and said, that's good enough for me
to recommend your book. And so, I think I just
Many people continue to be amazed at our super
fast shipping, where we ship the SAME DAY as wires come in. One man
said, "How can it be done any better?"
But that's not our
only competitive advanage. No other source on the internet has as
many design choices as us when it comes to 1 oz. rounds.
Plus, we will soon be shipping your order to you before you
place your bids! No. Not really. I was just
getting excited there. Just checking to see if you are still
reading. Just being a funny man. We really can't do it any
I suppose we could come down on price, and sell below cost,
until our capital was completely drained away, but that's not going to
happen if we can help it. That's almost as crazy as shipping before
you order! As it is, our prices are so low, we do take losses from
time to time, as the silver price can rise over 25-50 cents in the
day that it takes us to get the money, and re-order silver!
is, we are PRODUCING before the order comes in, which is somewhat crazy,
and revolutionary in itself. But we are not producing "non fungible"
designs like the Franklin Mint did, or other mints did with oddly weighed
or oddly shaped pieces! When the market heats up, we expect we will
sell out of everything again.
But if you have any suggestions for
designs, please continue to send them to firstname.lastname@example.org
We have at
least 5 or more designs in the works. Upcoming themes are the
snake from "Don't Tread on Me", a Peace Dove, a Lady Liberty, Shakespeare
and DaVinci, and maybe I'm forgetting a thing or two.
your business, and for your referrals. At this "dead" time, we could
really use a referral. And now is the best time to refer us, as
silver prices are on a dip! Please tell your friends about