A Silver Investment Problem: No Silver
Creating and building your silver investment used to be as easy as driving to your local coin shop and buying some coins or bars. You could usually count on them having a dozens if not hundreds of ounces on hand.
But times are changing. Investment demand has risen sharply with the economy in turmoil and with silver prices under $10/ounce.
Sean Brodrick at Money and Markets writes about his recent experience trying to secure silver:
At the first one, I was told that silver bullion coins (I asked for silver Eagles) were unavailable. At the second one, I was told they were available, but “not at any price you’ll want to pay.”
How much was that? Oh, about 60% more than I expected to pay.
“That’s outrageous!” I sputtered.
“Call me next week,” the dealer told me. “Maybe we’ll have more then.”
And…
A 12-to-16 week lead time for delivery? Un - freaking - real. And while that may sound crazy, it pales compared to the lunacy of not being able to get American Eagles and Canadian Maple Leaf coins until March of next year!
There’s always ebay.
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And the merchants of the earth weep and mourn over her, for no man buyeth their merchandise any more; merchandise of gold and silver; oil and coal and steel; credits and deposits; stocks and obligations and pseudo-educations; contracts and options and other derivatives; biotechnology and nanotechnology and every engineering - and any other charms - as well as of chariots and slaves; and souls of men. (Rev 18:11-13)
Did merchants of these goods feel already the smell of smoke?
The smoke of her burning - a sweet savor unto Lord.
http://harmagedon.blox.pl/html