5000 Buffalo Rounds at seekbullion.com

(While supplies last.)

Silver Stock Report

by Jason Hommel, January 23, 2009

Auction, Saturday Night at www.seekbullion.com

Due to popular demand, and to appease the critics, half of the auctions have a fixed reserve price.

Due to my preferred way of doing things, to set the most accurate and thus lowest reserve price possible, I have listed the other half of the auctions as a "variable reserve", with a note that I will bid "around the last hour", at spot, plus $2/oz.

But since silver prices are now fixed for the weekend, the variable reserve bids are now set at $1405 for 100 oz. and $7025 for 500 oz. Note, the fixed reserve prices are higher (and I can't change them) at $14.21/oz.

Proxy bidding: My bids of $1405 and $7025 on the "variable reserve" auctions are proxy bids, like all bids. This means that the computer program at www.seekbullion.com shows the lowest possible bid needed to win, and does not reveal my bids of $1405 and $7025, which is why I'm telling you both here, and in the listings as "spot plus $2/oz.).

All of my main competitors are SOLD OUT of all rounds, or they have never had them in months. Or, they are back ordered, or they have less than 100 available.

I suggest that you pre-register, and set up your account at www.seekbullion.com if you have not already done so, for the auctions that end this Saturday. Premiums are very low now, and we've actually had a few auctions this week that were not bid by anyone.

Yet, the silver price just jumped 60 cents/oz. today, and may be ready to take off, having closed for the weekend at $12.05/oz. Sincerely,

Jason Hommel