Silver/Gold Shortage! 19 Dealers Low or Out

Is this it? Is this how the moonshot starts?Apmex Out of Silver

The recent plunge in silver and gold prices has triggered a massive tsunami of public buying. Silver and gold are hard to get right now!

Apmex just sent me a notice saying they have shut down their web site and are accepting phone orders ONLY with a $5,000 minimum. Click the picture to read the notice they sent me.

Jason Hommel (one of our heros) says there are 18 other dealers reporting shortages.  [Check out Jason's web site here. Good stuff!]

Among them are:
> Amark (big supplier in US, including ColoradoGold)
> Perth Mint (big supplier in Australia)
> GoldDealer.com
> Scotia Bank
> Tulving
> CNI Numismatics

Don at ColoradoGold.com is closing early today.Oh, this is going to get interesting!UhaveNoidea
◊◊◊◊ Now: Gold @ $920.10, Silver @ $17.19, USDX @ 72.77 ◊◊◊◊

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3 Responses

  1. Update: Don Stott (ColoradoGold.com) says Amark does NOT have a silver shortage. He says they have a 10-day delay in delivering 10oz bars and they have no Englehard 100oz bars. He claims all other forms of silver are available, and characterizes the “shortage” as really just a temporary disruption of the ordering process.

  2. James, you could be on to something there! That would also fit in with teh NW Territorial Mint delivery delay lawsuit!

  3. I found this very interesting! I received this splash screen (the same screen you have pictured from your email) last night while I was contemplating buying some more precious metals. I assume Apmex is thinking everyone in the general public is going to buy the fact that they are going to “suddenly” put together a new website. Ha! For those of us who work in the IT field, we know you can’t just put a website together over night.

    The real skinny, in my opinion, is they were buying precious metals from everyone as the wave grew bigger and bigger. They were turning around and selling the same precious metals to other buyers as the wave grew bigger and bigger, assuring Apmex of making a little bit from commissions off each of those buy and sells.

    Now, the wave has crashed and Apmex is stuck holding $21 silver and $1000 gold. Do you really think they want to sell it for $17 and $920 respectively? I think not!! Instead, they “are having website issues”. Come on Apmex, just come clean and say you don’t want to loose money so you are suspending the sell of “old” silver and gold. It is ok, you can still continue to sell “new” silver and gold that you just paid someone “strong numbers” for!!!

    Holding current physicl and looking to buy more.

    Giddy Up

    James

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